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NEWLY-LAUNCHED property units are not flying off the booking boards in the showrooms this year, but sales are “at a healthy level”, according to Orando Holdings Sdn Bhd managing director Datuk Eng Wei Chun. Having entered the property development scene in 2005, Orando has witnessed the peak of the...
PETALING JAYA: Plenitude Bhd’s wholly-owned subsidiary Plenitude International Sdn Bhd has entered into a sale and purchase agreement with the Employees Provident Fund (EPF) for the proposed acquisition of a 259-suite hotel, known as the Gurney Resort Hotel Residences in Penang, for RM160mil. In a...
KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) is buying the 51 per cent stake held by Pelaburan Hartanah Bhd in Penang Sentral Sdn Bhd for RM50.75 million. Penang Sentral is a joint-venture company set up to implement the Penang Sentral project. After the payment, Penang Sentral will become a...
KUALA LUMPUR: UEM Sunrise Bhd has picked MMC Corporation Bhd's Anwar Syahrin Abdul Ajib as its new managing director and chief executive officer with effect from Sept 1, 2014. It said on Thursday Anwar, 41, was formerly group chief financial Officer and group head, ports logistics Division at MMC...
KUALA LUMPUR: Moody's Investors Service expects an uptick in non-performing loans (NPLs), particularly in the household segment, in the South-East Asian banking system. Moody's assistant vice president and analyst Simon Chen said on Thursday that in Asean, the Malaysian and Thai banking systems were the...
KUALA LUMPUR: UEM Sunrise Bhd has named Anwar Syahrin Abdul Ajib as its new managing director and chief executive officer (CEO), effective September 1. Anwar was formerly MMC Corp Bhd’s chief financial officer and group head of ports and logistics, a position he assumed in 2008. UEM Group Bhd managing...
PETALING JAYA: A new record for property prices in the heart of Kuala Lumpur is close to being set after two penthouses of the world-class Four Seasons Place were reserved at a whopping RM37mil each, sources said. This works out to a princely price of RM3,026 per sq ft based on the 11,900 per sq ft size of...
GEORGE TOWN: Eastern Oriental Bhd (EO) has completely sold all the 73 landed properties in the RM260.6mil Villas By-The-Sea project. The first batch of 40 two- to three-storey detached villas were sold and delivered to the purchasers in 2009, while the second batch of 33 units of three-storey...
SINGAPORE: A condominium development in Ipoh has been named Malaysia's Best Condominium at a property event here that gathered a host of high-flying professionals and companies from the luxury residential property sector from all over the region. The Haven Lakeside Residencies development was among four...
As stratified developments become a way a life, good maintenance and management have become an issue. EARLIER this year, a new set of property managers replaced the previous one in the condominium that Siti lives. Not having a current account, she paid her quarterly management fees in cash. She was told...
KUALA LUMPUR: Builder Zelan Bhd's share price fell by as much as 8.9 per cent a day after it said its contract in the UAE for a RM771 million property project was terminated. The shares, which sunk to an intra-day low of 30.5 sen, closed 2 sen or six per cent lower than the previous day to 31.5 sen. Zelan...
MALAYSIA Airports Holdings Bhd (MAHB) and Mitsui Fudosan Co Ltd will build the first upscale Japan factory outlet in Southeast Asia at the Kuala Lumpur International Airport in Sepang. To be known as Mitsui Outlet Park KLIA, it will be built on a 20.25ha site, complete with FB and entertainment...
PETALING JAYA: I-Bhd posted a turnaround in net profits in the third quarter ended Sept 30 of RM3.95mil from a net loss of RM1.28mil a year earlier. In its filing with Bursa Malaysia, the developer of iconic i-City said the vast improvement in profit was due to mainly a higher profit recognition from the...
SUBANG JAYA: Property developer Bolton Bhd aims to achieve RM1 billion in sales by 2014 from RM600 million currently, said executive chairman Tan Sri Azman Yahya. "Currently the company has RM619 million gross development value (GDV) of on-going projects and RM3.5 billion GDV of upcoming sales," he told...
KUALA LUMPUR: UMLand Bhd is confident that its soon-to-be-launched project in Medini Iskandar will be snapped up by foreign buyers. Its group chief executive officer, Charlie Chia, said 70 per cent of its boutique service residences known as Somerset Puteri Harbour apartments had been bought by foreigners...
It May be an end to a long wait for buyers of a low-cost housing project in Taman Sungai Yu Indah, Kampung Sungai Yu, Tanjong Karang, as the project will be revived and expected to be completed in March 2014. State Housing, Building Development and Squatters Committee chairman Iskandar Abdul Samad said...