News by Adam Aziz

Approvals to restructure loans and reduce interest on loans for buyers of “sick and abandoned” housing projects are subject to the discretion of the financier, said the Minister of Local Government Development Nga Kor Ming.

The government is looking into raising the floor for paid-up capital and accumulated capital for new property developers, and to blacklist directors of sick and abandoned projects in an effort to ensure the sustainability of the housing sector.

Chow stated the board of directors of PDC said the change in majority shareholders of Umech Land’s equity structure which was done without informing PDC and without PDC’s approval “is a serious issue and cannot be accepted by the board of PDC”.

The PVIP saw 57 applications processed, where 28 have been approved while the remaining 29 have been recommended for approval

The government is developing a rooftop solar buyback programme and will extend the current net energy metering (NEM) programme to Dec 31, 2024, in a bid to incentivise rooftop solar installation, said Prime Minister Datuk Seri Anwar Ibrahim.

The 12 parties were alleged to have conducted a series of conspiracies to defraud SPNB Aspirasi in relation to affordable housing projects involving 469 terrace units in Kuantan, Pahang between 2014 and 2019.

Fiamma Holdings Bhd said it has paid RM109.65 million for an alienation land approval to develop a 1.88-acre land along Jalan Yap Kwan Seng.

The sale consideration is at a 4% premium to its valuation of RM50 million at end-July. 

KIP REIT is purchasing the land piece together with the one-and-a-half storey commercial centre from Cahaya Serijaya Sdn Bhd.

The Selangor state government has rejected the application for the Petaling Jaya Dispersal Link (PJD Link) project, said its caretaker Menteri Besar Datuk Seri Amirudin Shari.