1MDB has no cash after all
Earlier in March this year, in response to a query by DAP lawmaker Tony Pua, Prime Minister Najib had said that the US$1.103 billion investments 1MDB redeemed from the funds in the Cayman Islands had been deposited in a Singapore bank in the form of cash. However, Najib revealed yesterday that there was no cash after all in Singapore bank account, amending his earlier statement by explaining that the redeemed investments were in the form of assets. (The Edge Markets)

Prime Minister Najib's reply to DAP lawmaker Tony Pua's query back in March 2015 (Source: The Edge Markets)

Prime Minister Najib’s reply to DAP lawmaker Tony Pua’s query back in March 2015 (Source: The Edge Markets)

Suria Capital expected to launch more properties this year
Suria Capital Bhd is prepared to launch more development projects in Sabah this year along with the announcement of its 1QFY15 results next week. The state-owned investment holding company has already obtained the development order (DO) for the Jesselton Quay project, and is currently revising its building plan and subdivision application for submission. (The Borneo Post Online)

UMLand to focus on affordable, landed homes in Iskandar
United Malaysian Land Bhd (UMLand) will focus on building landed properties and affordable homes in Iskandar Malaysia, targeting first-time home owners and Iskandar residents. UMLand CEO Datuk Charlie Chia said that landed properties were in demand, and that they were focusing on landed properties as there was already an abundant supply of high-rise residential properties in that area. (The Star Online)

Bukit Gambang driving profit for Sentoria
Property developer Sentoria Group’s affordable housing projects in Taman Bukit Rangin 2 and Taman Bukit Gambang are reported to be making good progress. The group is also anticipating the launch of “East Coast Bazaar”, a wholesale market shopping concept within its Bukit Gambang Resort City in Kuantan, Pahang, which is gaining popularity among local holidaymakers. Its revenue for 1Q15 increased 2.8%, while pretax profit soared to RM6.1 million (64.7%) compared to last year. (The Rakyat Post)

MEPS interbank transfer fee now only 50 cents
Malaysian Electronic Payment System Sdn Bhd (MEPS) has set the maximum fee for its real-time Interbank Funds Transfer (IBFT) service at 50 sen (RM 0.50), a reduction from the current fee ranging from RM1 to RM4. The new fee will be implemented from June 1 onwards. The current transfer limit of RM5,000 will also be increased to RM10,000 by June 30. (Bernama)

Malaysian embassy in Nepal relocated
The Malaysian embassy in Kathmandu has been relocated from Pulchok to Sanepa after the building was badly damaged in the earthquake on April 25. Some limited services provided since the relocation include collecting applications for and issuing social visas, while procedures for employment visas will re-start soon. (The Rakyat Post)

(Source: The Rakyat Post)

(Source: The Rakyat Post)