IJM says MACC, IRB officials visited its office to gather info; Azam Baki confirms probe

IJM says MACC, IRB officials visited its office to gather info; Azam Baki confirms probe

news

Updated:
  • Sunway plans to acquire IJM, offering 31.5 sen per share and 501 Sunway shares for every 1,000 IJM shares.
  • IJM's shares fell 5.7% after MACC and IRB visited for an investigation, prompting short-selling suspensions.
  • Analysts suggest accepting Sunway's offer despite it being below target prices, as it provides long-term value.
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HBA welcomes retraction of Urban Redevelopment Bill

HBA welcomes retraction of Urban Redevelopment Bill

news

Updated:
  • The National House Buyers Association (HBA) praised the Cabinet for retracting the Urban Redevelopment Bill.
  • HBA emphasised the need for genuine reform and public trust in future legislation.
  • HBA supports urban renewal but insists homeowners must be treated as stakeholders.
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Cabinet scraps Urban Renewal Bill for improvements—Fahmi

Cabinet scraps Urban Renewal Bill for improvements—Fahmi

news

Updated:
  • The Cabinet has retracted the Urban Renewal Bill for improvements, as stated by Minister Fahmi Fadzil.
  • Concerns from MPs and Umno will be addressed in a new draft, which may take time to finalise.
  • The bill faced criticism over consent thresholds that opponents claimed could undermine homeowners' rights.
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Berjaya Hartanah’s OAKA Residences reaches structural completion with a topping-out ceremony

Berjaya Hartanah’s OAKA Residences reaches structural completion with a topping-out ceremony

news

Updated:
  • Berjaya Hartanah Bhd has topped out its OAKA Residences in Bukit Jalil, valued at RM373 million.
  • The development features two 30-storey towers with 350 units and various lifestyle amenities.
  • Key stakeholders attended the ceremony, highlighting strong market demand and confidence in the project.
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Phase four rental aid extended for 67 Putra Heights gas fire households

Phase four rental aid extended for 67 Putra Heights gas fire households

news

Updated:
  • Phase four of rental assistance will support 67 households affected by the Putra Heights gas pipeline fire.
  • The Selangor State Executive Council approved this extension after recent assessments revealed ongoing issues.
  • The government will not continue assistance for homes deemed safe and completed.
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Inactive malls close, overall occupancy edges up—Henry Butcher

Inactive malls close, overall occupancy edges up—Henry Butcher

news

Updated:
  • Malaysia's retail sector saw a slight decline in mall space in 2025 due to closures and refurbishments.
  • Klang Valley malls averaged 83.7% occupancy, while Penang's rate was 70.8%.
  • The government aims for 47 million tourist arrivals during VMY2026 through initiatives like visa-free entry.
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Mulpha International invests US$20m in Sun Hung Kai bonds, expects 9.2% effective yield

Mulpha International invests US$20m in Sun Hung Kai bonds, expects 9.2% effective yield

news

Updated:
  • Mulpha International Bhd has subscribed to US$20 million in bonds from Sun Hung Kai & Co (BVI) Ltd.
  • The bonds carry a 6.75% annual coupon and are part of a strategy to optimise cash returns.
  • This investment is expected to generate positive cash flows and mature on January 22, 2029.
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BWYS to sell Bukit Changgang land for RM67m, acquire Tanjong Duabelas site for RM94.5m

BWYS to sell Bukit Changgang land for RM67m, acquire Tanjong Duabelas site for RM94.5m

news

Updated:
  • BWYS Group Bhd will sell its Bukit Changgang land for RM67m and buy land in Tanjong Duabelas for RM94.5m.
  • This transaction aims to enhance financial stability and support future growth by reallocating resources.
  • The group’s managing director emphasied a disciplined approach to asset management and long-term planning.
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MACC chief confirms working with UK authorities in IJM probe

MACC chief confirms working with UK authorities in IJM probe

news

Updated:
  • The MACC is investigating allegations of a RM2.5 billion money laundering scheme involving IJM Corporation.
  • Cooperation with the UK's Serious Fraud Office has been established, but no new information has emerged yet.
  • The MACC emphasises the need for ongoing efforts to combat corruption and improve governance in Malaysia.
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Redevelopment of Penang Waterfront needs close coordination with all parties, says Loke

Redevelopment of Penang Waterfront needs close coordination with all parties, says Loke

news

Updated:
  • The Penang waterfront redevelopment plan needs coordination among stakeholders, including heritage management.
  • Transport Minister Anthony Loke emphasised the importance of public spaces and heritage preservation.
  • The project aims to create a pedestrian-friendly area with cafes and tourism facilities.
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IJM says MACC, IRB officials visited its office to gather info; Azam Baki confirms probe