Bina Puri to build RM195mil twin towers in Iskandar
Construction firm Bina Puri Holdings Bhd’s subsidiary Bina Puri Sdn Bhd has bagged a contract to build a 23-storey twin tower in Iskandar Malaysia’s Medini Central Business District. The project is worth RM195 million, and is expected to be completed within 29 months. (The Edge Property)



Meda Inc to build mixed developments worth RM882mil
Property developer Meda Inc Bhd has plans to build serviced apartments and commercial property on two adjacent parcels of freehold land it is buying from BCM Holdings Sdn Bhd for RM180mil. The project located in the industrial estate of Chan Sow Lin in Kuala Lumpur has an estimated GDV of RM881.9 million. The project is scheduled to start in the final quarter of 2015 and completed in 4 years. (The Star Online)

Gamuda wins bid for land in Singapore
In a filing with Bursa Malaysia yesterday, Gamuda Bhd revealed that its joint venture with Evia Real Estate (7) Pte Ltd and Maxdin Pte Ltd had obtained approval from the Singapore Housing Development Board to acquire a 12,154.6 sq m parcel of 99-year leasehold land in Toa Payoh, Singapore, for S$345.86 million (RM968.81 million). Condominium or flats, or a combination of flats and strata landed property are the current type of development allowed on the land. (The Edge Property)

Rajawali Indonesia to maintain 2.55% in Felda
Indonesia’s Rajawali Group says it has no immediate plans to increase its current 2.55% stake in Felda Global Ventures Holdings Bhd (FGV), even as FGV’s purchase of a 37% stake (worth US$680mil) in Rajawali’s PT Eagle High Plantations Tbk is set to complete by August. (The Star Online)

Salcon bids for RM2bil worth of contracts
Salcon Bhd, a leading water and wastewater engineering treatment specialist, is in bids for RM2 billion worth of water treatment plants projects, both locally and abroad. The company’s tenderbook consists of 8 local projects worth RM1.25 billion, and 5 foreign projects, mainly in Sri Lanka, worth RM750 million. The company also hopes to deliver its first property development project in Selayang, called Res280, by end of next year. (The Sun Daily)

Mount Kinabalu to reopen to climbers in September
Sabah authorities have announced that Mount Kinabalu is expected to reopen to climbers in September, but the number of people allowed on the mountain at any one time will be reduced from 192 to about 90 in the early stages of its reopening. The mountain was closed to climbers after a magnitude 5.9 earthquake on June 5 killed 18 people, injured many others and caused damage to property in the surrounding districts. (The Malaysian Insider)

A general view of Mount Kinabalu is taken a day after earthquake in the East Malaysian state of Sabah on June 6, 2015. The Malaysian Insider/Najjua Zulkefli

A general view of Mount Kinabalu is taken a day after earthquake in the East Malaysian state of Sabah on June 6, 2015. The Malaysian Insider/Najjua Zulkefli

Banks urged to ease affordable housing loans in Penang
Banks in Penang have been urged to relax their terms and conditions for low-cost, low medium-cost and affordable housing loan applications. Concerns that applicants fall under the risky category do not stand, as “the security is already in the housing unit itself”. Efforts of the state government and private sector to provide affordable homes will be in vain if the applicants’ loans are denied. (The Star Online)

Government to review 24-hour restaurants, entertainment centres
The government will be reviewing the locations where 24-hour restaurants and karaoke centres can operate, after receiving reports on social problems at these areas, especially near housing areas. Concerns include the cleanliness at 24-hour restaurants, which could attract rats; the wellbeing of overworked staff, and other social problems like crime. However, fast food chains like McDonald’s and KFC outlets will be allowed to operate 24 hours. (New Straits Times Online)