Thirty months after acquiring a 51% stake in the developer of  Nexus Residence in USJ Subang West, Majuperak Holdings Bhd has decided to sell back the stake after the vendor failed to achieve the required 50% sale of the units in the project.

AME Real Estate Investment Trust (REIT) is aiming for 100% renewal of its 12 leases expiring in the financial year ending March 31, 2024 (FY2024) to reinforce the industrial REIT’s future earnings.

Noteworthy:

• Freehold
• Built-up size: 2,400 sq ft
• Unfurnished
• Nearby amenities: Convenience stores, Metro Point Complex, Plaza Metro Kajang, MRT Kajang
• Accessibility: Kajang SILK highway, Kajang-Seremban highway, EKVE highway

When: May 2023

PN-17 status Perak Corporation Bhd is disposing of a piece of agricultural land in Perak to Kim Poh Sitt Tat Feedmill Sdn Bhd (KPSTF) for RM5.5 million cash as part of its regularisation plan.

The Construction Industry Development Board (CIDB) has launched two initiatives under the industralised building system (IBS), which are IBS Homes Catalogue and IBS Homes showhouses to encourage adoption of IBS in Malaysia in the affordable housing landscape.

Malaysia's construction activity in the second quarter of 2023 (2Q2023) expanded for the fifth straight quarter since 2Q2022, reporting an increase of 8.1% year-on-year (y-o-y) in value of work done to RM32.4 billion, new data from the Department of Statistics Malaysia (DOSM) revealed.

The real estate market has been on edge since Bank Negara Malaysia (BNM) announced an unexpected increase of 25 basis points on the overnight policy rate (OPR) on May 3.

Datuk Seri Sundarajoo Somu, who is making his election debut in the upcoming Aug 12 state polls, is so passionate and excited by the chance to stand as a candidate that the former deputy president and deputy CEO of Eco World Development Group Bhd said he would not be able to sleep — could not die peacefully even — if he had passed on the chance.

Noteworthy:

• Built-up size: 2,350sq ft
• Fully-furnished
• Nearby amenities: Convenience stores, clinics, banks, Hartamas Shopping Centre, 1 Mont’Kiara, MRT Semantan, MRT Bandar Utama
• Accessibility: DUKE highway, DASH highway

When: May 2023

Chinese property giant Country Garden Holdings Co’s failure to make payments on its two dollar bond coupons due Aug 6 (Sunday) totalling US$22.5 million (RM103 million) has raised concerns over a cross-default on its Islamic Medium-Term Notes (IMTN) Programme in Malaysia.