News by M

Prasarana Malaysia Bhd expects to start awarding tenders for the RM9 billion light rail transit Line 3 (LRT 3) project in the second half of the year (2H).

The implications of this leadership race may not be as far-reaching as the presidential elections across the pond in the United States later this year; nonetheless, London’s mayoral election does attract a fair amount of attention.

The exercise involves 39.81% of the issued and paid-up capital of Tanah Makmur, or 158.504 million shares, which will entail the capital repayment of RM285.13 million to the entitled shareholders, according to Tengku Abdullah’s letter to the company yesterday, which was filed with Bursa Malaysia.

Rental reversion rates are likely to be lower for upcoming expiring net lettable areas (NLAs) with slower year-on-year store sales growth.

Measuring a total of 350km with seven stops, the HSR line involves a double track on standard gauge to move trains that can run at speeds of more than 300kph. At least 60 four-car trains worth around RM5 billion are required to service this line.

Malaysian Resources Corp Bhd (MRCB) said the Employees Provident Fund (EPF) has offered to acquire an 80% interest in ‘exchange’ land that the company will be receiving under the National Sports Complex privatisation project, for RM421.5 million.

IQI Group Holdings chief economist/investment strategies Shan Saeed said Malaysia's property segment was growing in a structured manner and this would continue to attract investments from Europe, China, Japan and South Korea.

Compugates Holdings Bhd’s 70%-owned subsidiary, Compugates Development and Mining Sdn Bhd, plans to dispose of a piece of land in Dengkil, Selangor, to Bangsawan Bumimaju Sdn Bhd for RM62.12 million.

Alwi, who has been with UOA REIT in an independent and non-executive capacity, boasts a luminous career in the public sector.

The mixed commercial development will comprise retail, premium residences and offices, with a gross development value (GDV) of RM1.33 billion.