KWAP has no commitment in TRX
Retirement Fund Incorporated (KWAP) has announced in a statement that there is no investment commitment made in the Tun Razak Exchange (TRX) development, saying that it will continue to look at investments that meet the fund’s minimum investment returns and risk parameters. Earlier on Monday, it was reported that KWAP had purchased land at TRX from 1MDB to house its new headquarters. (Astro Awani)
TNB in talks with 1MDB on Project 3B
Tenaga Nasional Berhad (TNB) is in talks with 1MDB over the acquisition of the biggest equity in Project 3B, a 2000MW coal-fired power plant. The Ministry of Energy, Green Technology and Water had previously approved the project equity and is aware of the discussion, but there has been no conclusion thus far. The ministry and Energy Commission will be informed if the deal is successful. (Bernama)
LRT3 to start work by 2016
Prasarana plans to start construction of the Light Rail Transit line three (LRT3) by the first quarter of 2016. The LRT3 tender will be announced by July this year, and the 35km line from Bandar Utama to Johan Setia, Klang is expected to be completed by 2020. (The Edge Markets)
(Source: Wikimedia Commons)
Trinity launches RM300mil condominium
Trinity Group Sdn Bhd has launched a freehold condominium at Sungai Besi. The water-themed residential high-rise, Trinity Aquata, comprises two 26-storey blocks, with prices starting from RM600 psf. Construction is expected to start in Q3 2016. (The Star Online)
Indonesian developer buys TRX land, develop Signature Tower
Leading Indonesian property developer Mulia Group has bought land at the Tun Razak Exchange (TRX) from 1MDB Real Estate Sdn Bhd to build its Signature Tower. The plot, valued at RM665 million, will house the landmark Signature Tower, which will be the tallest building in TRX. (New Straits Times Online)
ALI boosting stakes in Malaysian firm
Philippines property powerhouse Ayala Land Inc. (ALI) has signed a call option deal to increase its shareholdings in property developer MCT Bhd. ALI currently owns 9.16% of shares in MCT, and the deal will triple that amount up to 32.95%. (The Manila Times)
