Appellate court rules single JMB should manage mixed developments, residential and commercial properties allowed to have different rates

Appellate court rules single JMB should manage mixed developments, residential and commercial properties allowed to have different rates

news

Updated:
  • The Court of Appeal ruled that a single joint management body must oversee mixed developments in Penang.
  • It also stated that different rates can be imposed on residential and commercial properties.
  • The court declared previous resolutions for separate management as void, requiring a unified approach.
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Over 9,000 complete BIM training to boost construction digitalisation, says Nanta

Over 9,000 complete BIM training to boost construction digitalisation, says Nanta

news

Updated:
  • Over 9,375 participants have completed BIM training to support Malaysia's construction digitalisation.
  • The govt allocated RM430 billion for development, emphasising modern technologies like BIM for efficiency.
  • Collaboration among government, agencies, and industry is crucial for transforming the construction sector.
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Malaysia, Singapore to finalise RTS Link border laws by June 30—deputy minister

Malaysia, Singapore to finalise RTS Link border laws by June 30—deputy minister

news

Updated:
  • Malaysia and Singapore will finalise laws for the RTS Link by June 30.
  • The legislation aims for full enforcement by September 30.
  • The bill will ensure national sovereignty and protect Malaysian officers in Singapore.
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MRMA urges continuation of REIT tax framework to sustain sector growth

MRMA urges continuation of REIT tax framework to sustain sector growth

news

Updated:
  • The Malaysian REIT Managers Association urges the government to maintain the withholding tax framework.
  • They argue it supports a RM60 billion industry and enhances Malaysia's investment appeal.
  • The association also offered to provide relevant data or analysis to assist a review of the framework.
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MACC chief says in midst of exchanging info with UK SFO over IJM’s RM2.5b overseas investments

MACC chief says in midst of exchanging info with UK SFO over IJM’s RM2.5b overseas investments

news

Updated:
  • The Malaysian Anti-Corruption Commission is investigating IJM Corp Bhd with the UK's Serious Fraud Office.
  • They are gathering information on financial transactions and investments totaling RM2.5 billion.
  • The investigation may take time as they await the UK authorities' findings on potential violations.
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Sunsuria 1Q profit slips amid lower progressive property recognition

Sunsuria 1Q profit slips amid lower progressive property recognition

news

Updated:
  • Sunsuria Bhd reported a significant drop in 1Q net profit to RM1.69 million from RM8.87 million.
  • Revenue also fell to RM118.04 million, impacted by lower profit recognition from completed projects.
  • The group is expanding with a new residential project valued at RM492 million, set to launch in 3Q2026.
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PN17 TXCD gets RM119.1 mil in construction subcontracts from Vestland

PN17 TXCD gets RM119.1 mil in construction subcontracts from Vestland

news

Updated:
  • TXCD Bhd secured RM119.14 million in subcontracts for construction work in Kuala Lumpur.
  • The projects include a RM63.79 million job on Lorong Raja Uda 2 and a RM55.35 million job on Jalan Ampang.
  • TXCD, classified as PN17, has a market cap of RM57.9 million, with shares unchanged at 10 sen.
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Country Heights, eyeing action against liquidator, says EGM postponed to review circular, address regulatory clarification

Country Heights, eyeing action against liquidator, says EGM postponed to review circular, address regulatory clarification

news

Updated:
  • CHHB has postponed its EGM to review shareholder feedback on legal action against MWBP's liquidator.
  • The meeting will now include new regulatory information and address concerns about Baker Tilly's conduct.
  • Seeking shareholder approval for legal measures and a lease agreement with founder Tan Sri Lee Kim Yew.
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Axis REIT’s Wisma Kemajuan damaged by fire, says impact immaterial

Axis REIT’s Wisma Kemajuan damaged by fire, says impact immaterial

news

Updated:
  • Axis REIT's Wisma Kemajuan suffered partial fire damage from a nearby factory, but no injuries occurred.
  • The financial impact is expected to be minimal, as the property contributes only 1.4% to total revenue.
  • Axis REIT's revenue rose 13.77% in FY2025, with units closing at RM2.09, up 8.85% this year.
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High Court orders Suria Lake Town developer to facilitate issuance of strata titles to purchasers

High Court orders Suria Lake Town developer to facilitate issuance of strata titles to purchasers

news

Updated:
  • The High Court ordered Segi Objektif to issue strata titles for Suria Lake Town A and B within 12 months.
  • Justice Mahazan Mat Taib highlighted delays in forming the JMB, affecting purchasers' representation.
  • The court dismissed the developer's counterclaim for maintenance expenses, emphasising consumer protection.
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Appellate court rules single JMB should manage mixed developments, residential and commercial properties allowed to have different rates