PAC to look into MARA’s property investment policies
Following the Melbourne property controversy and alleged corruption by Majlic Amanah Rakyat (MARA), the parliamentary Public Accounts Committee (PAC) said that it will summon MARA leaders at the end of next month to look at their policies on overseas property investment. It was not specified who would be summoned. (The Malay Mail Online)
Ewein gets green light for Penang property project
Malaysian manufaturer Ewein Bhd, which manufactures products ranging from precision sheet metal fabricated parts to satellite antennas, is expanding into property development. On Friday, it announced that it had received local government approval for a mixed development project in Penang. The project consisting of residential and commercial property on 3.67 acres of land has a gross development value of RM800 million. (The Malaysian Insider)
Ewein: Property to contribute over 90% of FY16 profit
Ewein Zenith Sdn Bhd, a subsidiary of Ewein Bhd, expects its property segment to contribute over 90% to its net profit for the financial year 2016. On Friday, Ewein obtained the advertising permit and developer licence (APDL) for its City of Dreams mixed development project in Penang. The company is preparing the launch scheduled for the second half of this year. (The Sun Daily)
PR1MA targets approval for 250,000 affordable houses by year end
Perbadanan PR1MA Malaysia (PR1MA) has set a target for the approval of 250,000 units of affordable housing to be approved by the end of the year due to overwhelming demand. To date, 153,000 units have been approved nationwide except for Labuan. (The Malaysian Insider)
Eco World boosts London housing
Eco World Investment Co Ltd (EWI), a private vehicle controlled by majority shareholder of Eco World Bhd, Tan Sri Liew Kee Sin, is boosting London’s housing capacity with 3 new projects. The three projects – London City Island, Embassy Gardens and Wardian London – will be launched in the next two years with a total gross development value of £2.257bil (RM13.33bil) and will include 2,463 private housing and 310 affordable homes. (Malaysia Chronicle)
