News by M

“It will only take RM25 million for the government to build town houses. The government has spent so much more that they can spend that [much].”

The 22-year-old hotel is located close to historical/tourist sites such as A’Famosa and The Stadthuys and was last spruced up back in 2008.

“...may be able to get as much as RM416 million” for the land.

“Given the unique and complex nature of the redevelopment, the project requires careful planning and detailed enhancements as well as improvements to the infrastructure.”

“For a turnaround to work, we need three ingredients — first, the need to have a vision; second, the people to realise it, and thirdly, the resources to be able to do so. Hence, we have to look at the recycling of our assets and divestments.”

With such schemes, retail and institutional investors can “crowdfund” first-time homebuyers for properties valued at RM500,000 and below.

According to a statement, chief executive officer Datuk Wira Boo Kuang Loon said that he is raising his stake in the group, which currently stands at 12%, via special purpose vehicle (SPV) Domain Capital Sdn Bhd (DCSB) which will subscribe to 100 million new shares in the group.

In December 2018, EcoFirst had proposed to subscribe for a 20% stake in Geo Valley for RM13,333.46, followed by an acquisition another 50% stake for RM44 million from Geo Valley shareholders.

In a statement today, Standard Chartered Malaysia said it has passed the entire benefit of the cut to all its existing home loan customers, who will receive the benefit with immediate effect.

The ministry said it is spending RM99.19 million to subsidise RON95 and diesel fuel during this period.