News about Malaysia

JOHOR BAHRU (July 1): Demand for medium, affordable and low-cost housing in Johor’s Iskandar region remains strong, says Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim.

KUALA LUMPUR (June 30): Tadmax Resources Bhd clarified today that the valuation of its Pulau Indah land for sale to 1Malaysia Development Bhd (1MDB) was not subject to approval by the Securities Commission Malaysia (SC).

KUALA LUMPUR (June 30): The scale of 1Malaysia Development Bhd's (1MDB) Bandar Malaysia mixed-use development here may require the combined expertise and financial strength of consortiums to ensure its success.

SINGAPORE (June 29): CapitaLand said last Friday that its consortium has fulfilled the conditions required to acquire several land parcels in Danga Bay in Johor, The Straits Times reported.

KUALA LUMPUR (June 23): Johor-based property developer KSL Holdings Bhd plans to start the construction of KSL City Mall 2, expected to be one of the largest shopping malls in Klang, by the end of 2015.

KUALA LUMPUR (June 22): Axis REIT Managers Bhd (ARMB), the manager of Axis Real Estate Investment Trust (Axis-REIT), is acquiring an industrial facility in Port Klang, Selangor from Haisan Resources Bhd for RM46 million cash on an acquisition and leaseback arrangement.

KUALA LUMPUR (June 22): 1Malaysia Development Bhd (1MDB) said the request for proposal (RFP) process for its Bandar Malaysia development here has begun, with its wholly-owned subsidiary 1MDB Real Estate Sdn Bhd (1MDB RE) calling for development partners.

KUALA LUMPUR (June 22): Three outfits — a joint venture between Naza TTDI Sdn Bhd and China’s CSR Zhuzhou Electric Locomotive Co Ltd (Naza TTDI- CSR Zhuzhou JV), a partnership involving Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd (MRCB-George Kent JV), and UEM Group Bhd — are understood to be the front runners for the role of project development partner (PDP) in the proposed RM9 billion third light rail transit line (LRT3).

KUALA LUMPUR (June 19): Malaysia Pacific Corp Bhd (MPCB) has appointed UHY to conduct a special audit on the property developer following queries from shareholders and regulators on the company.

PETALING JAYA (June 19): Property tycoon Tan Sri Danny Tan, who founded Tropicana Corp Bhd in 1992, had retired as group executive vice chairman, the developer said in a press statement yesterday.