News about Penang

TAN Sri Ong Leong Huat is the group managing director and CEO of OSK Holdings Bhd (OSK) and OSK Property Holdings Bhd (OSKP).

GEORGE TOWN (Aug 26): The commencement of land reclamation works for the RM10 billion Penang WorldCity project in Bayan Mutiara is expected to begin only in the middle of next year.

TAN Sri Liew Kee Sin, chairman of Eco World Development Group Bhd (EcoWorld), has been in the property industry since 1989.

KUALA LUMPUR (Aug 25): Eastern & Oriental Bhd, which plans to monetise its land bank to improve cash flow, will be launching close to RM1 billion worth of projects in the current financial year ending March 31, 2017 (FY17).

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.