Tower REIT said the revaluation done by independent valuers, Raine & Horne International Zaki and Partners Sdn Bhd, will raise the unaudited net asset value by 2.71 sen per unit.

Earnings growth to be driven by its construction and power business segments.

Ipoh Barat MP M Kula Segaran said this following the High Court's postponement of the trustees' appeal to quash the decision to gazette the area a heritage site, pending a meeting with Tourism and Culture Minister Datuk Seri Nazri Aziz to ask him to reconsider the gazette decision.

Chief minister Lim Guan Eng said this in relation to 1MDB president and group chief executive officer Arul Kanda Kandasamy's recent admission that the 234 acres of land it purchased in Air Itam here for RM1.38 billion by the group's property arm, 1MDB Real Estate (Ayer Itam) Sdn Bhd, was not 100%-owned.

The yet-to-be-named joint venture (JV) company will see UEMSET holding a 70% stake, and TMS the remaining 30%, and will offer integrated facilities management, estate management and security management services for both the southern region townships.

Among the ongoing construction projects, include the construction of two main control buildings and four labs and civil work in Petronas complex in Pengerang, Johor (RM234.12 million), civil works at Rapid Steam Cracker Complex in Pengerang, Johor (RM94.94 million), Kompleks LKlM in Kuching (RM247.8 million), Bunus Regional Sewage Treatment Plant in Kuala Lumpur (RM291.1 million), Movenpick Spa Resort in Kuala Terengganu (RM1,285 million), and Medini Twin Towers in lskandar, Johor (RM195 million).

High-rise residential market to remain slow for next two years

The official launch of the Taman Desaru Utama affordable homes, RMMJ, and the township’s clubhouse is the first step in actualising the Johor government’s aim of building 60,000 units of affordable homes by 2019.

Chief Minister Lim Guan Eng said this was because the development was not a special project.

Tan Sri Dr Abd Wahab Maskan also vacated his managing director post in Sime Darby’s property division, Sime Darby Property Bhd, on Dec 31.