MSM sells Perlis land to F&N at 18% discount as it generates negligible revenues, saps finances
KUALA LUMPUR (Oct 9): Refined sugar producer MSM Malaysia Holdings Bhd, a 51% subsidiary of FGV Holdings Bhd, is selling a 4,453.
China's 'golden week': Property sales plunge in major cities, says report
KUALA LUMPUR (Oct 8): There has been nothing glittering in China's property market as sales in major cities of the Middle Kingdom experienced "one of their worst 'golden week' holidays in years", reported the South China Morning Post (SCMP) today.
FIC gets RM100m advance from Felda for Kuching hotel purchase
KUALA LUMPUR (Oct 8): Felda Investment Corp Sdn Bhd (FIC) sought to borrow RM100 million from parent Federal Land Development Authority (Felda) in late 2014 to finance the purchase of the Merdeka Palace Hotel and Suites in Kuching, says former Felda finance director Mohd Shahrin Mohd Ali.
Isa Samad trial: Kuching hotel later valued at half the purchase price, says FIC officer
KUALA LUMPUR (Oct 8): The Merdeka Palace Hotel and Suites in Kuching, which was bought for RM160 million by Felda Investment Corporation Sdn Bhd (FIC) between late 2014 and early 2015, was subsequently valued at only RM80 million, a witness testified today in the graft trial of former Felda chairman Tan Sri Mohd Isa Samad.
Gerakan: Penang can build its own PPR homes
GEORGE TOWN (Oct 8): The Penang government should go ahead with building People’s Housing Project (PPR) in the state without the need for the Federal government “to initiate” it, said state Gerakan chairman Oh Tong Keong.
DPM: Govt mulling sinking fund for industries to reduce impact of disasters
PUCHONG (Oct 8): The government is considering the creation of a “sinking fund” to increase industry player's responsibility in managing and restoring disasters in the country, according to a Malay Mail article today.
Gardens Mall: Pedestrian bridge to Abdullah Hukum LRT-KTMB station ready by this month
KUALA LUMPUR (Oct 8): The pedestrian bridge linking Abdullah Hukum LRT-KTMB station to The Gardens Mall “is expected to be opened by this month,” reported The Star recently.
PRG ventures into timber logging to diversify revenue
KUALA LUMPUR (Oct 8): PRG Holdings Bhd, which is mainly involved in the manufacturing of webbings, furniture components, other fabric items, as well as the property sector, is now venturing into the timber export business as a means to diversify its revenue stream amidst an economic slowdown.
Phase 1 of M Oscar fully taken-up at launch
KUALA LUMPUR (Oct 8): Some 200 units from Phase 1 of M Oscar, Mah Sing Group Bhd’s new high-rise residential project were fully sold out over its launch weekend on Oct 5 and 6.
Dr Mahathir on GST: Not appropriate to change tax system too frequently
KUALA LUMPUR (Oct 8): Prime Minister Tun Dr Mahathir Mohamad said today the government will continue to improve Malaysia's Sales and Services Tax (SST) instead of reviving the Goods and Services Tax (GST), because it is not appropriate for the country to change its tax system too frequently.
