News by Supriya Surendran

Penang State executive councillor Chow Kon Yeow, who was the guest of honour at the event, said the implementation of the TMP will provide a modern and balanced transportation system for Penang which future generations can enjoy.

In a filing with Bursa Malaysia yesterday, Sunway REIT declared a distribution per unit (DPU) of 2.05 sen for 4QFY15 (payable on Sept 10), totalling 8.73 sen per unit for the full FY15, exceeding analysts’ consensus DPU of 8.7 sen

Another issue plaguing property developers concerns joint land development agreements (JLDA) and how to treat the GST that comes with such arrangements

Speaking at a roundtable session during the Fiabci-Penang International Property Conference (PIP) 2015 yesterday, Penang state executive councilor for Housing and Town and Country Planning Jagdeep Singh Deo said that the state government had decided on the move after taking into account the implications for first time home buyers

Penang Chief Minister Lim Guan Eng said that work has commenced for at least four out of the 12 projects in the pipeline

The REIT also proposed a distribution per unit (DPU) of 4.30 sen, down 1 sen or 18.87% from 5.3 sen in the previous corresponding period, according to its filing with Bursa Malaysia today

 Nexgram Holdings Bhd’s wholly-owned subsidiary Nexgram Land Sdn Bhd has obtained the development order from the Sepang Municipal Council with respect to the RM1.15 billion “Angkasa Icon City” project

Tadmax Resources Bhd has completed the disposal of a parcel of land in Pulau Indah, Selangor to 1Malaysia Development Bhd’s (1MDB) unit Ivory Merge Sdn Bhd for RM294.38 million.

The proposed acquisition of seven parcels of leasehold industrial land with buildings comes with a leaseback deal for 15 years with Haisan, with an option to renew for another 15 years

1MDB said although the price psf was lower than market rates, the deal was ultimately within the confine of the government's internal transactions