“W Kuala Lumpur, which opened its doors to the public in August 2018 has, in fact, demonstrated strong occupancy rates and has contributed positively to the group’s property investment portfolio in 2018,” the group said in a statement.
In 2011, the Finance Ministry special purpose vehicle ATNB bought the land from the rubber board, which was then sold on to the ultimate buyer, instead of the land being sold directly.
Currently owned by developer Tropicana Corp Bhd, the same report stated that “the price the owner is seeking may be acceptable to foreign investors, especially those from China, who may view its proximity to the Petronas Twin Towers as a key determining factor”.
“DOSH is the authority on worksite safety. We will wait for the final report by DOSH and then make the appropriate decisions based on its findings.”
“This year, the world economy will probably be very complicated. Everyone should be cautious.”
The spotlight was cast on the company early last week when it was revealed that ATN had pocketed RM780 million from selling land owned by the Malaysian Rubber Board (MRB) to the Employees Provident Fund (EPF).
According to Mastery Academy of Chinese Metaphysics founder Datuk Joey Yap, although the Earth element symbolises sluggishness, it also means it is a good time to be prudent and analytical as well as to seize opportunities to accumulate wealth through investments.
The land, located 4km from the turn-off to Genting Highlands and 11km from the peak, will house private villas, high-rise homes that feature one-bedroom, two-bedroom and three-bedroom apartments as well as dual-key types, retail elements and a hotel.
“We are really hard-pressed in the current situation. How are we going to continue with the work if we are not paid? Some of the smaller subcontractors are saying that they are on the brink of bankruptcy as they don't have enough cash to roll over,” said another source.
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