MRT2 to inject life into sleepy towns
The upcoming MRT2 line, which runs from Sungai Buloh through TRX, Cyberjaya, and ending in Putrajaya, is expected to bring up the value and improve economic activity of areas it passes through. The latest alignment will no longer include Pandan and Cheras, but will benefit residents of Serdang, Seri Kembangan, Sungai Besi and Salak South areas. The MRT2 line will have 36 stations along its 52.2km length, which includes a 13.5km segment underground. The journey time between stations at both ends of the line is estimated to take 84 minutes. Details of the MRT2 project will be on public display tomorrow at 23 locations in the Klang Valley. (The Edge Markets)
Submit building plans before 30 June, DBKL warns
Kuala Lumpur residents who have done renovations to their homes without approval should submit their building plans to DBKL before June 30. Plans according to the by-laws will be approved, whereas illegal structures will be ordered to be torn down. The move is to ensure that illegal structures do not compromise the safety of residents. Those who submit after the June 30 deadline will be penalized. (The Star Online)
IOI Properties report RM107m Q3 earnings
The third quarter ended March 31, 2015 saw IOI Properties Bhd’s earnings increase RM 107.76 mil, 20.9% higher than last year. It also reported positive revenue of RM370mil in the property development segment, and RM106.7mil in operating profit. (The Star Online)
Najib can waive tax for Tabung Haji’s sale of TRX land
Experts have said that Datuk Seri Najib Razak can use his ministerial powers to waive the Real Property Gains Tax (RPGT) from Tabung Haji’s sale of the TRX land, thus saving the fund up to RM1.5million. LTH cannot apply for a waiver as it is a definite sales and purchase transaction, but it could request for a exemption from the Finance Ministry, which Najib heads. (The Malay Mail Online)
9 Seputeh reaches 70% sales for Phase 1
Malaysian Resources Corp Bhd’s (MRCB) mixed development, 9 Seputeh, has achieved 70% sales in the first phase of its launch. Located along Old Klang Road, Phase 1 will include 4 office towers and a SoHo block. The development will be constructed in four phases, and is expected to take 10 years to complete. (The Edge Property)
