News by M

The group’s property development division reported an FY18 revenue of RM619.6 million (-31.8% y-o-y) and profit before tax (PBT) of RM158.6 million (-32.6%) mainly due to the adoption of the Malaysian Financial Reporting Standards (MFRS) 15 whereby profits of property development projects in Singapore and China can only be recognised upon completion.

The award-winning journalist, Mary Ann Jolley said it is “ridiculous” for Najib to call questions about the 1Malaysia Development Bhd (1MDB) scandal propaganda. 

“If the cheque was fake or if it was a false account, it would never have been cleared.”

The poorly maintained facilities will receive an upgrade, and a brand new jetty with comfortable facilities will also be added to Teluk Bahang. 

OCR said the letter of award it received from Damansara Realty (Johor) Sdn Bhd, a subsidiary of Damansara Realty Bhd, for the appointment of OCR as the turnkey contractor for the PPA1M project, which spans 11.9 acres, has been terminated.

Sources say that in return for shares in GSB, Tee will inject an as yet unnamed mixed-use development in Jalan Kelang Lama, Kuala Lumpur that is owned by KPP into GSB. 

Observers who say that the takeover will likely set a precedent for other cases of "expropriation" of assets in Malaysia. 

What happens if the developer is unable to find enough bumiputera buyers for the bumiputera units? 

The numbers on unsold residential units in Malaysia as at 3Q2018.

"Based on calculations using the automated pricing mechanism (APM) formula, the retail price of RON95 and diesel for the period of March 2 to March 8 was supposed to be RM2.13 per litre and RM2.38 per litre respectively."