Johor Sultan Wants Property & Housing Bill Reviewed
A bill passed last year by the Johor government to establish a Johor Housing and Property Institution is called for review by the Sultan Ibrahim of Johor, which would give him authority over the accounts and a direct hand in Johor’s real estate development. The Johor Real Property and Housing Board Bill was passed with amendments that limited the sultan’s power in the proposed housing board. (The Malaysian Insider)
Rehda wants feedback in review of housing board bill
The Johor Housing Developers Association (Rehda) wants feedback from buyers, which include developers, buyers, and other stakeholders, to be considered if a review of the Johor Housing and Property Board Enactment is taken. Rehda charmain Hoe Mee Ling said it was important for stakeholders to have their say in the review to ensure the Johor Housing and Property Board met its objective. (New Straits Times)
Key clauses of the Johor Real Property and Housing Board Bill passed in 2014 (Source: NST)
Eco World launches $178.8mil share sale
Eco World Development Group Bhd has launched a $178.8 million primary placement share sale. Each share is priced at RM 1.62, with 394 million shares for offer. (The Edge Markets)
DAP MP: Tabung Haji RM188.5mil ‘discount’ land buy from 1MDB still ‘exorbitant’
The purchase of a 1MDB 1.56-acre plot of land for RM188.5 million by Lembaga Tabung Haji is an exorbitant price, said a DAP lawmaker, despite being given a ‘discount’. DAP’s Bukit Bendera MP Zairil Khir Johari pointed out that the selling price was 43 times the amount 1MDB had bought it for, and that the discount given was less than 3% of the recommended purchase price. (The Malay Mail Online)
Malaysian Investors Optimistic About Future Financial Situation
A survey by the Manulife Investor Sentiment Index shows that despite being unsatisfied with their present financial situation compared to other aspects of life, 52% of Malaysian investors are feeling optimistic about their future financial situation, believing that it will improve in the next 2 years. One third of investors predict cash to be the top asset class, while 20% expect it to be property, and 14% REITs. (Malaysia Chronicle)
Century Sells Land for RM20mil
Century Logistics Holdings Bhd has sold a 1.5-acre freehold commercial land to Top Glove Properties Sdn Bhd for RM 20.26mil. Century bought the land in 2011 for RM8.82mil, and expect to gain RM9.2mil from the deal after deduction of ancillary costs and real properties gain tax. (The Star Online)
