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“This will in turn pave the way for new business opportunities, including the provision of permanent carbon dioxide (CO2) capture and storage services.

REHDA stated that Minister of Housing and Local Government Nga Kor Ming clearly signified the “government’s willingness and readiness to focus on the rakyat’s needs and to take all industry stakeholders’ opinions into consideration, to ensure the property industry remains robust and healthy”.

Nga said he accepts all feedback regarding his remarks during the programme and withdraws any statements that may have caused confusion or upset among members of the media.

The property, comprising a double-storey factory and single-storey office, is being sold by its wholly owned subsidiary Berjayapak Sdn Bhd to General Point Asset Sdn Bhd.

The property developer has agreed to become an anchor investor in TrustCapital Australian Office Fund No 3.

The pharmaceutical group said the purchases will be funded by proceeds raised through its regularisation plan, which is part of the group’s strategy to strengthen its logistics infrastructure and expand distribution capacity across the east coast of Peninsular Malaysia as well as Sabah and Sarawak.

Nurul said many local issues stem from top-down planning methods that overlook on-the-ground realities.

One reason the government has not mandated the BTS model is that, based on the National Housing Department’s assessment, the industry chain is not yet fully ready, while mandatory implementation could also favour large corporations at the expense of SMEs, which play a critical role in developing small towns and rural areas, said Minister of Housing and Local Government Nga Kor Ming.

“Mobility, emissions, and population data exist, but they’re scattered and not easily accessible.

“PBTs that demonstrate 'green' and consistent performance will receive additional allocations, those with '’yellow' performance will have their allocations reviewed, while PBTs that receive a 'red' status will see their allocations reduced or even cancelled.