“We want to use this legislation to redevelop housing areas, so that Malays in Kuala Lumpur, for example, no longer have to live in the same cramped one-room flats even after 50 or 60 years.
A higher threshold of consensus should be required, such as 100% for buildings 60 years old and below, [and] 80% for buildings exceeding 60 years old.
Our concerns regarding the proposed URA are well founded and highlight critical legal and constitutional issues.
“Under the proposed Act, the government has no right to relocate any owners.
According to the draft, the consent threshold for participation is as follows: 80% for buildings of 30 years, 75% for buildings more than 30 years, and 51% for abandoned buildings.
Housing and Local Government Ministry’s Town and Country Planning Department (PLANMalaysia) director general Datuk Dr Alias Rameli said the lack of vacant land in major cities like Kuala Lumpur has pushed new developments to suburban areas, such as Nilai, Kajang and Seremban.
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The share capital reduction entails the cancellation of RM185 million of its RM272.
In a note on Thursday, CIMB Securities said that the company's earnings are expected to grow 2.
NPI for the quarter ended Dec 31, 2024 (3QFY2025) was RM11.
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