News by M

The Summit Subang USJ Management Corp will to refurbish the Summit Hotel Subang USJ in order to maintain its four-star rating.

Hong Leong Bank Bhd and Hong Leong Islamic Bank Bhd will join other banks and lower its base rate (BR) and base lending rate (BLR) from tomorrow (July 29), following the reduction in Bank Negara Malaysia's overnight policy rate (OPR) by 25 basis points.

"The aim is to speed up any process related to land affairs, secondly is to become a mechanism to expedite land dealings between industry and investors and thirdly, to provide heavier penalties against those who violate the relevant laws."

Meanwhile, the Mid Valley Southkey Megamall in Johor is on track to meet its target completion by end-2018.

KKB’s 70% share of the contract amounts to approximately RM900 million.

Miami Herald, quoting Genting Malaysia subsidiary Resorts World Miami's consultant's letter to the Miami-Dade County, reported that Genting Malaysia had floated an "unusual proposal" to the regulator.

“This is in line with FIC’s goal to become another large investment company in Malaysia via highly viable diversified investments that could generate attractive returns in the long run.”

There are still many details of the KL-Singapore high-speed rail project that need ironing out before the bilateral agreement is signed at the end of the year. But the memorandum of understanding signed last week shows that both the Malaysian and Singapore governments are now on the same page and more committed than ever to the project.

DBS Vickers Securities is keeping its “hold” call on CapitaLand Mall Trust (CMT) with a higher target price of S$2.23 (RM6.69), from S$2.20 previously.

The pilgrimage fund sees long-term value in the piece of land.