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High Court says court auction buyers not automatically liable for previous owners' strata arrears

High Court says court auction buyers not automatically liable for previous owners' strata arrears

news

Updated:
  • A High Court ruled auction buyers are not automatically liable for prior owners' maintenance arrears.
  • The judge stated the law doesn't transfer financial burdens to innocent purchasers.
  • This decision protects auction integrity and prevents unfair liability.
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Sime Darby Property ordered to refund RM36.23 mil excess land acquisition compensation

Sime Darby Property ordered to refund RM36.23 mil excess land acquisition compensation

news

Updated:
  • The High Court ordered Sime Darby Property to refund RM36.23 million.
  • This refund is for excess land acquisition compensation to LLM.
  • The company is assessing legal options for this decision.
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BMSPA 2026: 12 developers inducted into Hall of Fame, 36 properties honoured

BMSPA 2026: 12 developers inducted into Hall of Fame, 36 properties honoured

news

Updated:
  • The 10th Edge Malaysia Property Awards inducted 12 developers into its Hall of Fame.
  • These awards recognise excellence in property management and sustainable development.
  • A new award honoured individuals for elevating property management standards.
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Lim Seong Hai Capital plans to transfer listing to Main Market

Lim Seong Hai Capital plans to transfer listing to Main Market

news

Updated:
  • Lim Seong Hai Capital Bhd (LSH) plans to move its listing to the Main Market.
  • LSH has met the profit and market capitalisation requirements for this transfer.
  • The company expects to complete the transfer by the end of 2026.
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IJM confirms exploration of potential construction business IPO

IJM confirms exploration of potential construction business IPO

news

Updated:
  • IJM Corp Bhd is exploring a potential listing of its construction business.
  • This move could value the unit up to RM5 billion.
  • The company emphasises this is still in the exploratory stage.
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ECM Libra secures up to RM130m banking facilities for Desaru beachfront hotel

ECM Libra secures up to RM130m banking facilities for Desaru beachfront hotel

news

Updated:
  • ECM Libra Group secured RM130 million from RHB Bank for a hotel development.
  • This funding will support a new beachfront hotel in Kota Tinggi, Johor.
  • The project aligns with ECM Libra's hospitality expansion strategy.
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PRG unit seeks to wind up Picasso Residence developer over RM64.24m debt, faces separate subcontractor petition

PRG unit seeks to wind up Picasso Residence developer over RM64.24m debt, faces separate subcontractor petition

news

Updated:
  • PRG Holdings' subsidiary, PCI, filed to wind up Picasso Residence developer PDM for RM64.24 million debt.
  • Separately, PCI faces a winding-up petition from a subcontractor for RM352,105.87.
  • PRG expects no major operational impact from either petition, as provisions were made.
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PwC to prepare white paper on Penang International Financial Centre, says CM

PwC to prepare white paper on Penang International Financial Centre, says CM

news

Updated:
  • Penang hired PwC to create a plan for its International Financial Centre.
  • PwC will deliver a white paper, blueprint, and action plan in 20 weeks.
  • This initiative aims to boost Penang's economy and tech-driven finance.
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MUI Properties to dispose of Springhill industrial land for RM18.73m

MUI Properties to dispose of Springhill industrial land for RM18.73m

news

Updated:
  • MUI Properties is selling industrial land for RM18.73 million, expecting a RM10.87 million net gain.
  • The sale supports their strategy to develop Bandar Springhill as a medical hub.
  • This transaction will boost net assets and earnings per share for the company.
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Marriott International, Iconic Group ink agreement to launch Courtyard by Marriott on Penang mainland

Marriott International, Iconic Group ink agreement to launch Courtyard by Marriott on Penang mainland

news

Updated:
  • Marriott and Iconic Group will open Courtyard by Marriott Penang Icon City.
  • The hotel, formerly Iconic Hotel, targets business and leisure travelers.
  • It will feature 196 rooms and various amenities.
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High Court says court auction buyers not automatically liable for previous owners' strata arrears