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Ikhmas Jaya Group Bhd Bags RM166.4 Mil Suite Service Apartment Project

By Kim Wong / 3 years ago

KUALA LUMPUR, Jan 4 — Ikhmas Jaya Group Bhd’s unit, Ikhmas Jaya Sdn Bhd, has bagged an award worth RM166.4 million from Star Effort Sdn Bhd to develop two blocks of suite service apartments in Kuala Lumpur. In a filing to Bursa Malaysia today, the group said the development of the 375 units would be carried […]

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1MDB Stake Sale Price ‘Reasonable’

By Kim Wong / 3 years ago

PETALING JAYA: The whopping RM7.41bil price tag for the sale of 1Malaysia Development Bhd’s (1MDB) 60% stake in Bandar Malaysia is considered reasonable, based on the valuation of surrounding plots of land within the vicinity. In a research report, UOB Kay Hian Malaysia Research said the price paid by the purchasing consortium was “fair” given […]

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1MDB Assets To Be Standalone Entities

By Kim Wong / 3 years ago

KUALA LUMPUR: With the conclusion of its debt rationalisation plan, 1Malaysia Development Bhd (1MDB) can now heave a sigh of relief as it waits for the measures to take effect. With an initial debt amounting to RM42 billion, 1MDB began its six-month debt rationalisation plan in June last year which was expected to conclude by […]

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Bandar Malaysia Stake Buy To Generate Returns To People Of Johor

By Kim Wong / 3 years ago

JOHOR BAHARU, Jan 3 — The move by the state government to acquire a stake in Bandar Malaysia Sdn Bhd is expected to generate profits that will be used towards enhancing the well-being of the rakyat. Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said entering the shares acquisition tender as a bidder and subsequently […]

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Tatt Giap Group Bhd To Sell Land For RM41 Million

By Kim Wong / 3 years ago

PETALING JAYA, Jan 1: Tatt Giap Group Bhd has agreed to dispose of a 42,376.3 sq m piece of leasehold industrial land in Prai, Penang, to CSC Steel Sdn Bhd for RM41 million as part of the group’s debt reducing exercise. In a stock exchange filing yesterday, Tatt Giap said it had created legal charges over […]

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1MDB Rationalisation Plan Completed, Says Arul Kanda

By Kim Wong / 3 years ago

1Malaysia Development Bhd (1MDB) president and group executive director Arul Kanda Kandasamy said today‎ the debt-laden firm has achieved its target of completing its rationalisation plan within six months. The final step of the plan was completed with the execution of the sales and purchase agreement for 1MDB’s 60% stake i‎n Bandar Malaysia Sdn Bhd […]

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Development Plan Is For Adjoining Land, Ashram Unaffected, Say Trustees

By Kim Wong / 3 years ago

KUALA LUMPUR (Dce 31): Our intention have never to demolish or build over the Vivekananda Ashram, but to develop the adjoining land, says trustee R Sri Skanda Rajah. He said the trustees were also not asking the government not to gazette the building as a heritage site, only the land. “We are not suing the […]

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Penang Gerakan: Investigate Rising Cost of Undersea Tunnel

By Kim Wong / 3 years ago

The Malaysian Anti-Corruption Commission (MACC) should probe the ballooning cost of the proposed undersea tunnel and the related road projects under the Penang Transportation Master Plan (PTMP), according to Gerakan state liaison committee member H’ng Khoon Leng. In a report by The Star, he said the MACC should look into the RM305 million cost of […]

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No Choice But To Reclaim Land To Fund Transport Plans In Penang, Says Guan Eng

By Kim Wong / 3 years ago

GEORGE TOWN (Dec 30): Over the past seven years, the DAP-led Penang government has had to endure criticism from various quarters over many of the changes introduced in the state. Among them are the proposed undersea tunnel and highway projects and more recently, the proposal to reclaim more than 1,200ha fortwo man-made islands off the […]

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