‘No GST changes in near term’
There will be no changes to the Goods and Services Tax (GST) in the near term, as the government aims to implement the system into the entire consumer spending system, said Finance Minister II Datuk Johari Abdul Ghani. He said with the implementation of GST, the country is on track to meet its fiscal deficit target of 3.1% this year. Measures to address the welfare of the citizens include 1Malaysia People’s Aid (BR1M), push for regional economic corridors, construction projects to enhance the economy, and introduction of minimum wage policies. (New Straits Times Online)
SP Setia to launch affordable apartments in Semenyih
SP Setia Bhd will launch its D’Camellia affordable apartments at Setia EcoHill township in Semenyih tomorrow, Oct 1. The apartments will cost RM262,000 and each 860-sq ft unit will feature three bedrooms and two bathrooms, as well as include two parking bays. The launch of tower one comprises 317 units out of the 635 apartments to be built over two blocks of 18 storeys each. Facilities include landscaping, an Olympic length swimming pool, playground, gym, badminton court, multipurpose hall and is a gated and guarded development. The apartments are suitable for first time homebuyers, young couples, fresh grads and parents buying property for their children as investments. (The Star Online)
Artist’s impression of The Starling development in Damansara Uptown (Image from Astro Awani)
Starling Mall in Uptown Damansara to open by year-end
Property developer See Hoy Chan Sdn Bhd is set to open ‘The Starling’ community mall in Damansara Uptown by end-November this year, with an estimated GDV of RM600 million. The mall, also known as The Mall in a Park, is 90% completed and already has 85% occupancy rate. There are 95 tenants confirmed, which include Baskin Robbins, Starbucks Coffe, Sushi Zanmai & Shojikiya, The Teh Tarik Place, Sasa, Padini Concept Store, Daiso, Popular and MBO Cinema. The 42,000 sq metre Starling will feature a five-storey mall surrounded by green landscape. Despite stiff competition from nearby malls, the company is confident of doing well due to the daily working population of about 20,000 in the area. (Astro Awani)
Plans to demolish Ampang Park stalled
Strata owners and tenants of Ampang Park Shopping Centre have succeeded in halting the demolition of the iconic mall until Oct 20, which was set to make way for the construction of the MRT Line 2 project. The interim stay was extended from Aug 16 to Oct 20, whereby the land administrator cannot issue ‘form K’ to take possession of the Ampang Park and demolish it. Since January, the owners and tenants had objected to the plan to demolish the shopping centre, which had been operational since 1973 and has 253 business lots. MRT’s management had issued a notice asking them to vacate the building by April this year. (The Star Online)
Hunza taking on RM1bil worth of projects in Penang
Hunza Properties Bhd is undertaking RM1 billion worth of projects in strategic locations on Penang island and in Seberang Prai, where the value of properties has risen steadily for the past 5 to 6 years. The projects now under construction are the RM600mil Alila 2 in Tanjung Bungah, and the RM400mil Mekarsari landed property project in Bertam. For Alila 2, its selling points are the 1.2ha of untouched hill which is allocated as open space for recreational activities, and being a low-density project comprising 270 units in two blocks of condominiums. For Mekarsari, Hunza is introducing the single-storey zero-lot bungalows for spacious living, the first phase of which has 253 houses. Hunza is also working on its Penang International Commercial City (PICC) project in Bayan Baru. (The Star Online)
PRG Holdings plans to list manufacturing arm in Hong Kong
PRG Holdings Bhd is proposing to list its manufacturing business on the Growth Enterprise Market of the Hong Kong Stock Exchange, which would allow the group and its manufacturing segment to have separate fundraising platforms on the debt and equity capital markets. The group’s manufacturing division will continue to remain as a subsidiary of PRG upon the completion of the listing exercise. Besides manufacturing, PRG is also involved in property development and construction businesses. (The Sun Daily)
