KL-SG High Speed Rail terminus at Jurong Country Club site
The Singapore government announced yesterday that the Kuala Lumpur-Singapore High Speed Rail (HSR) terminus will be located at the current site of the Jurong Country Club. The 64ha land handover is expected to take place by November 2016, and the built up area will include the terminus, offices, hotels, retail and residences. (The Straits Times Singapore)
(Source: Wikipedia)
Sunway to launch RM1.8bil project in Kelana Jaya
Sunway Bhd has proposed a mixed development project in Kelana Jaya with an estimated gross development value of RM1.8 billion. Sunway has agreed to buy the 17-acre land for about RM289 million. The project will comprise serviced apartments and retail shops, and the first launch is slated for December 2016. (The Edge Markets)
MRCB targets RM900mil sales in 2015
Malaysian Resources Corp Bhd (MRCB) is targeting sales of approximately 70-80% of its RM1.2 billion gross development value worth of projects set to launch this year. MRCB acquired a net profit of RM153mil in 2014, a positive comeback from its net loss of RM110mil in 2013. (Malaysia Chronicle)
Tabung Haji invested RM920.8m in Bandar Malaysia sukuk
Lembaga Tabung Haji announced in a statement yesterday that it had invested RM920.8 million in a 1MDB sukuk issuance last February to finance the facilities replacement at Sg Besi Air Force Base. The investment will result in a RM626.5 million profit for LTH. PAS had requested an explanation for the purchase when documents leaked online had surfaced of LTH’s transactions with 1MDB. (The Edge Markets)
Putrajaya must stop all 1MDB land deals
After the recent issue of Tabung Haji and KWAP land deals with 1MDB, federal lawmakers have called for the government to stop all 1MDB property deals that involve public funds, and buy back land at the same price it was sold to 1MDB. Pandan MP Rafizi Ramli said all government-linked corporations and agencies must declare any transactions made with 1MDB, and called for the Prime Minister to order the mutual termination of all contracts. (The Malay Mail Online)
MB: Foreigners not buying up Johor property
Johor Menteri Besar Datuk Mohamed Khaled Nordin said that many are mistaken regarding the idea that foreigners are buying up property in Johor, as numbers show that only 0.72% of 1.3mil piece of property in Johor was owned by foreigners. The state government is planning to implement a property development zone where foreigners can only buy properties in the zone, and allowing only Malaysians to buy medium to low-cost houses. (The Star Online)
Singapore warns buyers of risks of buying Johor property
Data from a survey of real estate agencies show a drop in sales of Malaysian properties. The oversupply of properties in Johor, especially the concerns of a future hoursing glut in Iskandar, have caused Singaporean buyers to be wary of buying land across the Causeway. (The Malaysian Insider) (Singapore Business Times)
