Nexgram in talks with 1MDB on TRX land
Nexgram Holdings Bhd is currently discussing with 1MDB to acquire land in the Tun Razak Exchange (TRX). Nexgram has not determined the type of development yet but has announced that it is interested in the remaining land at TRX and to participate in the development of the project. (Bernama)
EcoWorld to launch second township in Kota Kemuning
Eco World Development Group Bhd will be launching a second township in Kota Kemuning, called Eco Sanctuary, with GDV of RM8 billion. The launch is slated for next month, and the first phase of the 308.7-acre development will include semi-detached units, bungalows, and terraced villas. (Malaysia Chronicle)
Mah Sing sees 18% rise in 1Q profits
Mah Sing Group Bhd saw an 18% increase to RM98.9 million in its 1Q15 net earnings, and an increase of 22.1% in its revenue. The group attributed its growth to higher work progress and sales from its ongoing development projects. (The Edge Markets)
Genting to house SEA’s first hilltop premium outlet
Construction of the RM200 million Genting Premium Outlets has started, and estimated to be completed by end of 2016. The project is a joint venture of Genting Group and Simon Property Group, and it will be Southeast Asia’s first hilltop Premium Outlet Centre. (The Sun Daily)
(Photo: The Edge Property)
OSK Property targeting 5 new malls in 5 years
OSK Property Holdings Bhd plans to complete five more shopping malls by 2020, after the grand re-opening of the Atria Shopping Gallery in Damansara Jaya yesterday. The company is planning to have its second mall in Cheras, third one in Sungai Petani, fourth in PJ’s Section 13, and a fifth one in Melbourne. (The Edge Property)
Singapore remains world’s 3rd most competitive economy
According to the World Competitiveness survey by business school IMD, Singapore remains the third most competitive economy, ranking only behind the United States (1st) and Hong Kong (2nd). It lost its top spot in the Asia Pacific ranking to Hong Kong, but overtook Switzerland (now 4th) in the 2015 world rankings. The report measures factors such as productivity, the labour market, sentiment, management practices, infrastructure, policy stability, among others. (AsiaOne)
