News about Penang

“It was also RM179 million higher than a previously cancelled direct deal.

The development, to span seven years from end-2024, will see the construction of 338 affordable housing units, 1,680 residential units, service apartments, as well as retail shops and offices.

Facilities in the hotel include lounge areas, co-working spaces and event spaces for community gatherings, pop-up events and creative workshops.

Spanning 176 acres, the RM1.

The development presents an opportunity for Fajarbaru to expand its business activities in Penang, and not limited to the development of Medi-City.

This is the second foreign big name that has put the brakes on expanding production, after Osram Opto Semiconductors Sdn Bhd, a unit of Austrian-German leading intelligent sensor and emitter-maker ams Osram.

Some of these hotels include The Millen in Penang, which is slated to open later this year; Iconic Marjorie Hotel in Penang, via a franchise agreement with Iconic Penang Sdn Bhd, to open by year end; Sheraton Johor Bahru in Johor in 2025; and The Westin in Penang, via a collaboration with Westfield Global Sdn Bhd, in 2026.

The group expects a net pro forma gain of RM50.

The group achieved RM870.

This contract is deemed as a recurrent related party transaction, as Datuk Tee Eng Ho, the non-independent non-executive chairman and major shareholder of Kerjaya Prospek, also serves as the executive chairman and major shareholder of Eastern & Oriental Bhd.