News by Kamarul Azhar

The Penang South Island (PSI) reclamation project, which has been scaled down from three islands to one following a request from the prime minister, will finally kick off with Gamuda Bhd starting Phase 1 of the reclamation works worth RM3.717 billion on July 1.

The association said this review is long overdue as the delivery of affordable housing has caused free-market middle-income housing to become unaffordable.

Industrial properties real estate investment trust (REIT) AME REIT has declared its second income distribution per unit since listing, of 1.82 sen per unit, for the fourth quarter ended March 31, 2023 (4Q23).

Sunway Construction Group Bhd has been awarded a contract for the construction of station and viaducts for the Johor Bahru–Singapore Rapid Transit System (RTS) for RM604.86 million.

Sunway REIT Management Sdn Bhd has announced the properties that it would acquire for Sunway Real Estate Investment Trust (Sunway REIT) from the Employees Provident Fund (EPF) worth RM520 million in total.

MRT Corp said the detailed and comprehensive study on the proposed alignment is being done for the purpose of minimising the social impact of the project on the public, especially land acquisition.

The government will also not increase the 3.7 sen per kWh surcharge on farmers and animal breeders as well as lower voltage (LV) non-domestic.

Robert will remain with the group in the role of a non-independent, non-executive director to facilitate the change in leadership during the transition.

Property developer and hospitality group Tropicana Corp Bhd remained in the red in the third quarter ended Sept 30, 2022 (3QFY2022), recording a net loss of RM26.27 million despite its revenue surging 88.7% to RM321.64 million.

IOI Properties Group Bhd (IOIPG) recorded a stellar performance for the first quarter ended Sept 30, 2022 (1QFY2023), recording net profit of RM640.29 million, which was three times higher than 1QFY2022's.