MB World Group to launch maiden township in Kota Tinggi
MB World Group Bhd will be launching its first integrated township development called Taman Sri Penawar in Bandar Penawar, Kota Tinggi, Johor on Saturday. The company chose to develop the township in Kota Tinggi because of the strategic location, scarcity of houses and the lack of mature townships in the area, said executive director Ng Liang Khiang. The 470-acre township consists of 3,300 residential units and 380 commercial units. It has a GDV of RM1.9 billion and is expected to be completed in seven years. (The Edge Markets)

LBS Bina, YPJ Plantations to develop RM2.6bil township in Johor
LBS Bina Group Bhd and YPJ Plantations Sdn Bhd are jointly developing a mixed township in Kota Tinggi, Johor with estimated GDV of RM2.6 billion. The 219ha land is located near to townships like Kulai, Senai, Kota Tinggi and is opposite the Orchard Golf and Country Resort. The mixed township will comprise residential and commercial units including Perumahan Rakyat Johor, and will be built over eight to 10 years. (The Edge Markets)

MCCC to publish guide for China and Malaysia investors
Entrepreneurs in Malaysia and China will soon have a guide book. The first-ever Malaysia-China Trade and Investment Guide will be published in July, signifying flourishing trade between both countries. The 300-page guide will help entrepreneurs from China who want to do business with Malaysia, and include information on the relevant laws and regulations and the various opportunities available in trade and investments. Last year, bilateral trade with China totalled US$98bil (RM431.2bil). (The Star Online)

Country Garden closes all China sales centres
Hong Kong-listed Country Garden Holdings Co Ltd has closed all sales centres in China for its Forest City housing project in Johor, according to a South China Morning Post report, which said the move came amid Beijing’s crackdown on capital flight. However, a Country Garden spokesman was quoted as saying that the company had shut all the sales centres in China for renovation. The RM444 billion Forest City, which covers 14 sq km of land on four artificial islands in Johor, has been successful in attracting Chinese buyers by offering affordable prices and access to Malaysia’s visa programme for long-term stays. (The Edge Markets)

A notice at a Country Garden showroom in Shanghai stating it was closed for renovations. -SCMP/Daniel Ren

A notice at a Country Garden showroom in Shanghai stating it was closed for renovations. -SCMP/Daniel Ren

Developer only needs to give public a week’s notice in PJ
The objection period for proposed projects by private developers in Petaling Jaya is only seven days. At the end of the objection period, a public hearing will be held to address complaints from the public. MBPJ public relations director Haniza Abdul Hamid said apart from the immediate neighbour, any affected person, including motorists, could object to a project if it would cause them grievance. Complainants could write to mayor Datuk Mohd Azizi Mohd Zain to protest. (The Star Online)

LBS to raise RM165mil for projects
Property developer LBS Bina Group Bhd is planning to sell convertible preferance shares to raise up to RM165.66mil for projects in Selangor and Johor. The proposed rights issue entails the issuance of up to 150.59 million redeemable and convertible preference share (RCPS) units on a basis of one RCPS for every five existing LBS shares to the entitled shareholders. (The Star Online)

1,093 civil servants declared bankrupt in 2016
A total of 1,093 civil servants were declared bankrupt last year, as compared to 960 in the previous year. Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said said 3,276 civil servants were declared bankrupt between 2013 and 2016. Selangor recorded the highest number of cases, while Perlis recorded the lowest. The Bankruptcy (Amendment) Bill 2016, tabled for a first reading in Nov last year, will be tabled for a second reading and focus on the social guarantor, and those who became guarantors for education grants, rental and purchase of vehicles, as well as housing loans. (New Straits Times Online)

Penang’s Komtar to feature ‘world’s tallest mural’
Five Malaysian artists are set to make their way into the Guinness Book of Records by painting the world’s tallest mural along the entire side of Penang’s iconic Komtar tower. The World’s Tallest Mural project, which is sponsored by Only World Group (OWG), will see the artists attempting to paint a colossal homage to the state and its people on the iconic tower. The mural is expected to cost about RM300,000 and measure 230 metres high and 13.1 metres wide when completed. The mural project will start this month and is expected to be completed by October. The five artists chosen to undertake the project are Bibichun, The Sliz, Kangblabla, Sattama and IMMJN. (New Straits Times Online)

An artist's impression of the world's tallest mural on the iconic Komtar tower.

An artist’s impression of the world’s tallest mural on the iconic Komtar tower.