News by Ahmad Naqib Idris

It will definitely boost the land value of the areas along the line, says industry analyst

1MDB is selling 60% of Bandar Malaysia Sdn Bhd to a consortium comprising Iskandar Waterfront Holdings Sdn Bhd and China Railway Engineering Corp (M) Sdn Bhd for RM7.41 billion.

Konsortium Transnasional Bhd (KTB) is disposing of a 0.63ha piece of industrial land in Larkin, Johor Bahru, to MHSB Development Sdn Bhd for RM2.1 million.

He has more than 26 years of experience in the property development and construction industries, starting out his career as a senior architect in BEP Arkitek Sdn Bhd, in charge of high-end property developments in 1994.

Its executive director Datuk Anderson Thor Poh Seng said contribution from its joint venture (JV) property development project dubbed 368 Residences in Jalan Segambut here will also only be coming in towards end of FY16.

FCW executive director Datuk Anderson Thor said the RM1.5 billion gross development value (GDV) development will comprise three phases, with phase 1 to account for RM500 million of the total GDV.

Gamuda said the lower profit was mainly due to the completion of the electrified-double tracking railway project in November and the dampened local property market.

The company said its wholly-owned subsidiary, Tebrau Bay Sdn Bhd, had accepted the offer for the two land parcels in Plentong, Johor, measuring a combined 92.83 acres.

MK Land group chief executive officer Lau Shu Chuan said the group will be focusing on its northern developments, namely its Klebang Putra and Meru Perdana projects in Perak.