Meda Inc seeks RM108.76m damages from PR1MA
KUALA LUMPUR (May 17): Meda Inc Bhd said its wholly-owned subsidiary Maju Puncakbumi Sdn Bhd had launched legal action against Perbadanan PR1MA Malaysia (PR1MA), claiming RM108.
Funding for TRX Lifestyle Quarter on the line
KUALA LUMPUR (May 17): Although previously close to securing between RM2 billion and RM3 billion worth of financing for its Lifestyle Quarter in the Tun Razak Exchange (TRX) development, TRX City Sdn Bhd and its joint-venture (JV) partner Lendlease Corp Ltd appear to be having difficulties locking down funding.
Hillcrest Gardens reduces Hillcrest Heights condo price by 3% immediately
PETALING JAYA (May 17): Hillcrest Gardens Sdn Bhd today announced that with immediate effect, selling prices of its latest development, Hillcrest Heights @ Taman Puchong Utama, will be adjusted downwards by 3% to reflect the savings from the zero-rated Goods and Services Tax (GST) announced yesterday by the new government.
Aspen sees 2.5 times jump in 1Q profit, driven by progress of ongoing projects
KUALA LUMPUR: Singapore-listed Aspen (Group) Holdings Ltd's net profit grew about 2.
Kepong MP lodges MACC report over RM4.28b DBKL land sale
KUALA LUMPUR (May 16): Kepong MP Lim Lip Eng has lodged a report with the Malaysian Anti-Corruption Commission (MACC) today to investigate 64 parcels of land sold by Kuala Lumpur City Hall (DBKL) under the purview of the former Federal Territories minister Datuk Seri Tengku Adnan Tengku Mansor from 2013 to 2018.
Cahya Mata Sarawak rises as much as 4.68% following surge in 1Q earnings
KUALA LUMPUR (May 16): Shares of Sarawak state infrastructure facilitator Cahya Mata Sarawak Bhd (CMSB) rose as much as 4.
Ewein ups stake in Penang developer
KUALA LUMPUR (May 16): Ewein Bhd is increasing its stake in Ewein Zenith Sdn Bhd to 89% from 73%, as part of its plan to gain control in the Penang-based property developer, which is currently developing a luxury sea-front residential project worth RM800 million in gross development value.
Damansara Realty reports second straight quarterly profit
KUALA LUMPUR (May 16): Damansara Realty Bhd reported its second consecutive quarterly profit for the first quarter ended March 31, 2018 (1QFY18), with a net profit of RM1.
Construction may see postponement, cost reduction of projects
Construction sector Downgrade to neutral: The surprise election outcome with Pakatan Harapan (PH) winning the election led to a knee-jerk selldown in construction stocks.
Ideas: Property-related election pledges may hurt real estate market
PETALING JAYA (May 15): Election pledges made by the new Pakatan Harapan (Pakatan) government regarding affordable housing and the property market at large may hurt the industry as the new government seeks to further control the market which could potentially prevent its self-correction, said Institute for Democracy and Economic Affairs (Ideas) senior fellow Dr Carmelo Ferlito.
