JPA: BIPK costs govt over RM1b, no longer relevant

PETALING JAYA (Dec 27): Following backlash over the announcement that the Critical Services Incentive Payment (BIPK) would be abolished, the Public Service Department (JPA) released a statement yesterday, saying that the BIPK or critical allowance was implemented as a temporary measure that could be abolished if it was determined to no longer be relevant, or to no longer fulfil particular criteria.

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Axis REIT to buy Bukit Raja property for RM37m

KUALA LUMPUR (Dec 25): Axis Real Estate Investment Trust (Axis REIT) is acquiring a piece of land siting two blocks of factory and a double-storey office building at the Bukit Raja Industrial Area, Selangor from Lion Steelworks Sdn Bhd for RM37 million – about 5% lower than its market value.

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ASM Development countersues Econpile for almost RM346m

KUALA LUMPUR (Dec 23): Property developer ASM Development (KL) Sdn Bhd (ASMDKL), a unit of Maju Holdings Sdn Bhd, has countersued Econpile Sdn Bhd, a subsidiary of Econpile Holdings Bhd, for almost RM346 million for its failure to carry out work at its Maju Kuala Lumpur project, in response to a suit filed by the construction contractor in March this year.

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