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More than 5,000 cases related to developers settled by tribunal

Urban Wellbeing, Housing and Local Government minister Datuk Seri Abdul Rahman Dahlan explained that the cases involved technical claims such as defects in the workmanship or the failure to comply with specifications and non-technical claims such as delays in handover to purchasers.

S P Setia to launch Maison Carnegie in August

Property developer S P Setia Bhd is set to launch its latest development in Melbourne, the Maison Carnegie apartments, on Aug 6. CEO of S P Setia’s Australian operations based in Melbourne, Australia Choong Kai Wai told TheEdgeProperty.com over email that a special preview will be held on July 2 for S P Setia purchasers and Malaysians who are looking to invest in Melbourne real estate.

TRX City’s net profit drops 55%

According to TRX City’s 2015 annual report, which was filed with the Companies Commission of Malaysia on April 1, the sharp drop in earnings was due to an almost tripling of “other expenses” to RM158.85 million, from RM55 million.