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KUALA LUMPUR (June 30): Tadmax Resources Bhd clarified today that the valuation of its Pulau Indah land for sale to 1Malaysia Development Bhd (1MDB) was not subject to approval by the Securities Commission Malaysia (SC).

KUALA LUMPUR (June 30): The scale of 1Malaysia Development Bhd's (1MDB) Bandar Malaysia mixed-use development here may require the combined expertise and financial strength of consortiums to ensure its success.

Government-linked corporation Sime Darby and the Penang Development Corporation (PDC) have signed a memorandum of understanding (MoU) to develop Changkat and Byram in Nibong Tebal, southern Seberang Prai, Penang.

Majlis Amanah Rakyat (Mara)'s investment arm, Mara Inc, spent a total of RM375.

PETALING JAYA: Matrix Concepts Holdings Bhd said the Negeri Sembilan government’s move to change its affordable housing policy and bumiputera quota will enable a project’s gross development value (GDV) to increase, in a report by The Edge Malaysia (June 29 – July 5 2015 issue), “The people will ultimately benefit as there will be more affordable housing, while developers can still make a profit,” Matrix Concepts founder and group managing director Datuk Lee Tian Hock told the weekly.

KLANG (JUNE 30): The construction of the much anticipated five-star hotel, Acmar Hotel and Residence in Klang, Selangor, has hit regulatory snags and its completion is expected to be delayed by at least three months to first quarter of next year, said Acmar International Group.

  With the advantage of being close to the city centre, Setapak has witnessed the development of many condominiums.

SHAH ALAM (June 29): Packaging manufacturer Scientex Bhd, which is also involved in property development, intends to buy 326 acres of freehold tract in Pulai, Johor Bahru, for RM219 million cash to expand its land bank.

PETALING JAYA (June 29): Sunway Construction Group Bhd (SCG) has set a dividend policy of paying out 35% of its annual core profit once it has been listed to enable its shareholders “to participate in the group’s profit”, according to its prospectus of its initial public offer.

PETALING JAYA (June 29): The Selangor government has agreed to include the Damansara-Shah Alam (DASH) elevated expressway alignment into the Petaling Jaya City Plan 2 (RTPG 2).