News by Choy Nyen Yiau

Hextar Global Bhd (KL:HEXTAR) said on Wednesday its indirect unit, PHG Ever Fresh Plantation Sdn Bhd, is selling three adjacent parcels of durian plantation land in Raub, Pahang, for RM13.75 million.

The government will raise the consent threshold for urban renewal projects to 80% across the board, Housing and Local Government Minister Nga Kor Ming said on Thursday.

Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that the government is prepared to refine and amend the proposed Urban Renewal Bill 2025 (URA Bill), ahead of its second reading in the Dewan Rakyat.

The debate session on the Urban Renewal Bill 2025 (URA Bill) has been pushed back by a day, as Housing and Local Government Minister Nga Kor Ming confirmed it will not be withdrawn amid continued criticism.

The call comes after the PAC urged the government to overhaul Kuala Lumpur’s land development system, citing serious issues including unchecked approvals, ignored public objections, and the sale of public land below market value.

Such a move would dampen the capital city’s gross domestic product heavily dependent on the construction and property-related services sectors, she said.

The parliamentary Public Accounts Committee (PAC) found that an outdated formula to calculate land prices led to the government losing about RM136.8 million in revenue in the case of the Kampung Bohol flood retention pond project.

The Public Accounts Committee (PAC) has called for the government to overhaul Kuala Lumpur’s land development system after uncovering serious issues, including unchecked approvals, ignored public objections, and the sale of public land below market value.

Property group Ideal Capital Bhd (KL:IDEAL) saw its net profit for the second quarter fall 14%, dragged down by a jump in cost of sales despite higher revenue.

Lawmakers from both sides of the political divide want the Housing and Local Government Ministry to defer the second reading of the Urban Renewal Bill 2025 (URA Bill) and have it referred to relevant parliamentary special select committees for further scrutiny.