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KL flood retention pond capacity down to 30%, says FT minister

KL flood retention pond capacity down to 30%, says FT minister

news

Updated:
  • Kuala Lumpur's flood retention pond capacity has dropped to 30% due to development on 17 land lots.
  • Minister Hannah Yeoh stated that further developments could worsen the situation and increase flood risks.
  • A special task force has been established to coordinate flood mitigation efforts and protect the ponds.
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Bank of America opens new office at Merdeka 118, reinforcing commitment to Malaysia

Bank of America opens new office at Merdeka 118, reinforcing commitment to Malaysia

news

Updated:
  • Bank of America has opened a new office at Merdeka 118 in Kuala Lumpur, showing commitment to Malaysia.
  • The inauguration was attended by key executives, highlighting the bank's focus on responsible growth.
  • Its Malaysian office will offer various services, marking a new phase since entering the market in 1959.
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The Wyn Residences hits 66% take-up as completion timeline accelerated to June 2027

The Wyn Residences hits 66% take-up as completion timeline accelerated to June 2027

news

Updated:
  • Land & General Bhd has advanced The Wyn Residences completion to June 2027, a year earlier than planned.
  • The project has a 66% take-up rate and recently celebrated structural completion at a topping-up ceremony.
  • This development features 1,546 units across three towers, with prices starting at RM480,000.
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Trinity Group marks topping out of RM395 mil Trinity Rainfora as Phase One hits full sell-out

Trinity Group marks topping out of RM395 mil Trinity Rainfora as Phase One hits full sell-out

news

Updated:
  • Trinity Group Sdn Bhd celebrated the topping-out of Trinity Rainfora in Bandar Kinrara on May 12.
  • Phase One sold out completely, prompting the launch of Block B with units starting at RM568,000.
  • The project features two towers, 535 units, and extensive amenities, targeting completion in 3Q2027.
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IWG expands Spaces coworking footprint in TTDI amid rising demand for flexible workspaces

IWG expands Spaces coworking footprint in TTDI amid rising demand for flexible workspaces

news

Updated:
  • IWG is launching a new Spaces coworking centre in TTDI, Kuala Lumpur, to meet rising demand.
  • The 24,700 sq ft facility offers flexible workspaces and is strategically located near major transport links.
  • This expansion reflects IWG's commitment to providing high-quality work environments.
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Economy minister urges local authorities, state govts to slash rental rates of premises

Economy minister urges local authorities, state govts to slash rental rates of premises

news

Updated:
  • The National Economic Action Council urges local authorities to reduce rental rates for shops and premises.
  • This initiative aims to support petty traders facing rising costs and potential business closures.
  • There are signs of shifting consumer behaviour towards more cost-effective choices amid rising prices.
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BKIP2 to go for another round of bidding after second RFP fails

BKIP2 to go for another round of bidding after second RFP fails

news

Updated:
  • The Penang Development Corp will reopen bidding for the Batu Kawan Industrial Park 2 project.
  • The second request for proposal failed after the winning bidder's partner withdrew, prompting a new round.
  • If no suitable partner is found, PDC will reassess the project's viability and market conditions.
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Penang assemblyman proposes 3% levy on out-of-state property buyers

Penang assemblyman proposes 3% levy on out-of-state property buyers

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Updated:
  • A Penang assemblyman proposed a 3% property transfer premium for non-residents to curb speculation.
  • The funds would support affordable housing initiatives for locals, addressing a housing market mismatch.
  • Defining "non-Penangite" and implementing the levy may require federal cooperation and legal adjustments.
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Bursa reprimands Ireka, fines directors RM425,000 over Pan Borneo Sabah project disclosure breaches

Bursa reprimands Ireka, fines directors RM425,000 over Pan Borneo Sabah project disclosure breaches

news

Updated:
  • Bursa Malaysia reprimanded Ireka Corporation and fined seven directors RM425,000 for disclosure breaches.
  • The violations involved failures related to the RM1.07 billion Pan Borneo Highway project in Sabah.
  • Ireka's inadequate disclosures led to significant market volatility, impacting investor confidence.
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Rehda backs Option to Purchase clause under proposed new housing law

Rehda backs Option to Purchase clause under proposed new housing law

news

Updated:
  • Rehda Malaysia supports the proposed "Option to Purchase" clause in the new Real Property Development Act.
  • This mechanism allows buyers and developers to withdraw from transactions before signing agreements.
  • Rehda emphasises the need for clear and equitable guidelines to protect homebuyers and address challenges.
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KL flood retention pond capacity down to 30%, says FT minister