MRCB tipped for Bukit Jalil stadium refurbishment job
Malaysian Resources Corp Bhd (MRCB) is tipped to receive a project for the refurbishment of various sports facilities at the National Sports Complex (NSC) in Bukit Jalil, including the 17-year-old main Bukit Jalil Stadium. It will also involve building a sports museum and hall of fame to commemorate sporting greats. The project could cost up to RM1 billion, and in return MRCB would get land in the vicinity of NSC for development if the proposal is approved.(Malaysia Chronicle)

UEM Sunrise unveils RM7bil ‘Estuari’ project in Puteri Harbour
UEM Sunrise Bhd has unveiled it’s latest 159.6-hectare ‘Estuari’ residential project in Johor’s Puteri Harbour area, with a gross development value (GDV) of RM7 billion. Its main selling point would be its mixture of different concepts of residential projects, constructed in nine or 10 phases over a span of 7-10 years. The first phase, Estuari Garden, is the company’s first landed residential property in Johor consisting of 350 double-storey superlink houses, and will be open for sale from July 5. The construction started last year and is currently 30% complete, expected to be completed in mid-2017. (Bernama)

Country Heights has funds to settle RPGT claim
Country Heights Holdings Bhd (CHHB) has a tax retention amount of RM11.214 million, which it will use to settle a claim filed by the government for real property gains tax (RPGT) if the appeal to the High Court is determined in favour of the Inland Revenue Board. The total sum of the claim is RM22.617 million together with 8% interest, which means that CHHB will have to pay the remaining amount after deducting the tax retention sum. (The Sun Daily)

Negri Sembilan to have Central Park
Seremban will have its very own 400ha Central Park – reminiscent of the famous public parks in top cities such as London, New York and Paris – a green lung where people would be able to mingle, exercise and enjoy recreational activities. The park will be an integral part of the multi-billion ringgit Malaysian Vision Valley (MVV) project, which will be carried out over the next 30 years. However, there is no confirmation yet as to where the Central Park would be located. (The Star Online)

New York's famous Central Park covers 843 acres of land in Manhattan, New York (Photo from Flavorpill)

New York’s famous Central Park covers 843 acres of land in Manhattan, New York (Photo from Flavorpill)

Gromutual calls off RM19mil land deal
Property developer Gromutual Bhd has announced it is calling off a RM19.03 million land acquisition from Berjaya Land Development Bhd. Its wholly-owned subsidiary Rainbow Entity Sdn Bhd (RESB) is entering into a “Deed of Mutual Revocation and Rescission on Sale and Purchase Agreement” with Berjaya Land Development. In March this year, RESB had entered a deal to acquire 21.51 acres of freehold land in Mukim, Plenting (Johor) from Berjaya to replenish its land bank. (The Edge Markets)

Negeri new housing policy to stabilise house prices
Negeri Sembilan’s new housing policy, which was implemented last month, is expected to stabilise housing prices and curtail real estate speculation in the state. The policy will help contain the prices of affordable houses, stabilise prices in the short, medium and long term, avoid speculation, and ensure only eligible buyers could buy them. Local residents will not need to rush into buying houses for fear of prices going up if they bought later. (Bernama)

Putrajaya avoided credit downgrade at expense of rakyat
A PKR lawmaker said today that Malaysia avoided a credit downgrade by Fitch Ratings at a RM15 billion cost to the public, pointing out that one of the reasons cited for maintaining the country’s rating was the Goods and Services Tax (GST), as well as the fuel subsidy system reforms. The government expects to collect about RM15 billion annually from the GST. (The Malay Mail Online)