News about Penang

KUALA LUMPUR (Aug 25): Even with 2,492 acres of land already in hand, Mah Sing Group Bhd has hinted at its desire to continue amassing land or seeking more joint venture initiatives to develop more homes in the future.

KUALA LUMPUR (Aug 25): Hua Yang Bhd, which expects flat earnings growth in the current financial year ending March 31, 2017 (FY17), said it aims to pay out 25% to 30% of its net profit as dividends while conserving cash for landbank replenishment.

DESPITE the slow property market, OSK Property Holdings Bhd believes there is still demand for properties targeted at end users.

KUALA LUMPUR (Aug 24): Telekom Malaysia Bhd (TM) is collaborating with Aspen Vision All Sdn Bhd, a subsidiary of Penang-based Aspen Vision Development Sdn Bhd (Aspen Group), to facilitate the deployment of Smart City services and converged IT and ICT services for the Aspen Vision City development in Bandar Cassia, Batu Kawan, Penang.

GOMBAK (Aug 24): Hua Yang Bhd is confident of achieving its property sales target of RM500 million, underpinned by two launches in the second half of this year.

PENANG (Aug 18): Tower B of Mah Sing Group Bhd’s Ferringhi Residence 2 in Penang recorded an 84% take-up rate over a weekend.

KUALA LUMPUR (Aug 18): Property developer and private education operator Paramount Corp Bhd, which announced a 70% increase in its latest quarterly earnings, is planning up to RM405 million new projects and additional phases of existing developments in the second half of the financial year ending Dec 31, 2016 (2HFY16).

ASIAN Retail Mall Fund II (ARMF), which owns the SStwo Mall in Petaling Jaya, is believed to be seeking a buyer for the retail asset as an earlier plan to redevelop the site has been shelved.

KUALA LUMPUR (Aug 17): Paramount Corp Bhd’s second quarter net profit soared 70% to RM23.

  PETALING JAYA: The state government is exploring a number of measures to bring down contribution costs imposed upon property developers, said Penang State Exco for Housing and Town & Country Planning Jagdeep Singh Deo.