Local Government Ministry successfully revives 256 private housing projects worth RM23.37b
“The ministry has also taken action to freeze 20 housing development accounts (HDA) for projects in the sick category.
“The ministry has also taken action to freeze 20 housing development accounts (HDA) for projects in the sick category.
Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir said the government is currently studying to amend the Advertising Permit and Developer’s License Act (Act 118).
It is important to note that Sunway had only emerged as a majority shareholder in Umech Land two days prior to the announcement of the agreement, by injecting RM23.
The construction firm said its wholly-owned subsidiary Propel Global Development Sdn Bhd has inked agreements with the vendor, Goldhill Deluxe Sdn Bhd, to purchase a 14,442 sq m parcel for RM13.
"It should investigate the land sale at RM26.
Lee has also resigned as the Penang CM's special investment adviser on Oct 2, Chow said, with a one-month notice given.
"The said meeting decided that Umech was to carry out a market survey to study the composition of land usage, [for] proof of Umech’s financial sustainability to be evaluated, and other related matters.
While there was no valuation made by independent registered valuer, Sunway said that based on market available information to them, the market price for undeveloped freehold industrial land in the Batu Kawan area ranged between RM21 and RM35 per square feet.
The industrial land in BKIP2 was made available on the open market in May for RM80 per square foot, with parcels as small as five acres each.