News about Penang

KUALA LUMPUR (Dec 29): Penang property magnate Tan Sri Ooi Kee Liang has emerged as the third-largest shareholder of steelmaker Tatt Giap Group Bhd after acquiring a 7.

PETALING JAYA (Dec 26): High property-related taxes and other rates imposed by the Selangor government have driven up the cost of living in the state, said political economist Isham Jalil.

KUALA LUMPUR (Dec 20): Mah Sing Group Bhd is targeting to increase its landbank in Klang Valley to 75% of its total landbank, from the current level of 66%.

PETALING JAYA (Dec 15): The government will not bail out property developers, especially those who fail to sell their high-end projects and get into financial problems, said Finance Minister II Datuk Seri Johari Abdul Ghani.

PETALING JAYA (Dec 15): Johor Bahru in Johor and George Town in Penang were identified as some of the cheapest locations for expatriates in Asia, according to research by ECA International.

KUALA LUMPUR (Dec 12): Ivory Properties Group Bhd is once again seeking more time to fulfill the conditions precedent for the proposed sale of a piece of freehold land in Jesselton, Penang, for RM150 million — the third extension it has announced in relation to the disposal.

KUALA LUMPUR (Dec 4): Al-Salam Real Estate Investment Trust (Al-Salam REIT) is acquiring 22 properties located across Malaysia for a combined RM115 million in a related party transaction.

KUALA LUMPUR (Nov 22): Builder-cum-property developer Seal Incorporated Bhd is monetising 28 pieces of land in Penang to raise RM27 million for the group's working capital.

KUALA LUMPUR (Nov 22): Kerjaya Prospek Group Bhd posted a record profit of RM34.

KUALA LUMPUR (Nov 21): Apparel retailer Voir Holdings Bhd, which is turning to construction to diversify its earnings by taking up a stake in Consortium Zenith Construction Sdn Bhd, the special purpose vehicle (SPV) that is executing the RM6.