News about FIC

KUALA LUMPUR (Feb 21): A more than two-year delay in completing the Pacific Star Business Hub by JAKS Resources Bhd (pictured) has been cited as the reason for Star Media Group Bhd to call on a RM50 million bank guarantee for the project.

KUALA LUMPUR (Feb 12): The Penang government would not be liable for any loss that might be incurred by the RM4 billion undersea tunnel concessionaire if there is a drop in revenue, profit or traffic volume, according to the state government's works, utilities and committees chairman Lim Hock Seng.

KUALA LUMPUR (Feb 9): The Federal Land Development Authority (Felda) has set up an investigation committee to carry out a legal review on the forensic audit on the Kuala Lumpur Vertical City project.

KUALA LUMPUR (Feb 8): Felda (Federal Land Development Authority) has been instructed by the Prime Minister’s Department to take disciplinary and legal action against those who have been negligent about the agency’s interests.

PETALING JAYA (Jan 29): The outlook for Kuala Lumpur and beyond Kuala Lumpur (Selangor) office markets continues to be gloomy, Knight Frank Malaysia said in a report today.

PETALING JAYA (Jan 24): 1 Utama Shopping Centre has officially opened and launched the first phase of 1 Utama E, the newest extension to the mall which adds an additional 592,015 sq ft of gross built-up area (164,687 sq ft net lettable area) to the mall’s existing 5 million sq ft.

PETALING JAYA (Jan 22): The Kuala Lumpur office market is likely to remain subdued due to supply glut, with developments such as Tun Razak Exchange (TRX), Merdeka PNB 118 and Sapura Tower nearing completion, said property consultancies Edmund Tie & Co (SEA) Pte Ltd and Nawawi Tie Leung Property Consultants Sdn Bhd in their “Kuala Lumpur Q4 2017: Retail sector was undergoing stress test” report.

KUALA LUMPUR (Jan 11): Three board members of Federal Land Development Authority (Felda) Investment Corp Sdn Bhd (FIC) who were supposed to be in office at the time of the controversial Jalan Semarak land deal are also under probe by the Malaysian Anti-Corruption Commission (MACC) over the purchase of hotels in London and Sarawak, the English daily New Straits Times reported today.

PETALING JAYA (Jan 8): An external forensic audit into a suspicious land title transfer of Federal Land Development Authority (Felda)’s Jalan Semarak land earmarked for its Kuala Lumpur Vertical City (KLVC) project is expected to begin today.

KUALA LUMPUR (Jan 3) : Malaysia Pacific Corp Bhd (MPCorp) said it is negotiating with the 21st Metallurgical Development (M) Sdn Bhd (T21) for the redevelopment of Wisma MPL in Jalan Raja Chulan here.