Kuwait Finance House to sell Menara Prestige
Kuwait Finance House is offering Menara Prestige, located at a stone’s throw from the Petronas Twin Towers in Kuala Lumpur, for sale. It is seeking RM700 million to RM750 million for the Grade A office building, sources say. Savills has been hired as the exclusive marketing agent for Menara Prestige. The 36-storey Menara Prestige has a NLA of 550,000 sq ft and over 800 parking bays. Recent notable office building transactions in the Golden Triangle include Wisma Selangor Dredging, and both Vista Tower and Integra Tower at The Intermark. (The Edge)

Mah Sing launches ‘MY Mah Sing’ mobile app
Mah Sing Group Bhd has introduced its mobile application “MY Mah Sing” with the aim of enhancing the lives of its customers as property technology (proptech) is rapidly changing the industry’s conventional way. As Mah Sing is focusing on affordable housing, especially for first-time home buyers this year, Leong expects most of the buyers to be tech-savvy millennials. Mah Sing’s clients who are collecting their keys will be able to utilise a number of the app’s features, including the integrated vacant possession (VP) scheduler, which allows customers to set a time with Mah Sing’s customer service team for the VP process. The app also provides information on the surrounding area for new residents to find nearby hotspots, including eateries and entertainment places. The app also entitles new homeowners to special rewards such as regular promo codes from appointed merchants and priority invitation to Mah Sing’s events and launches. (The Malaysian Reserve)

East Coast to see economic boost from ECRL
East coast states have much to gain upon the implementation of the East Coast Railway Link (ECRL) project with household incomes, tourism and transport expected to improve. According to MIDF Research, the controversial rail project could improve household income in Terengganu, Kelantan and Pahang. ‘Slow travellers’ could afford to take the train to shop for speciality products in the region, therefore reinforcing the tourism industry there. Meanwhile, improvement in industrial and external trade activities will eventually generate jobs, uplift household income and reduce the inequality gap. (MalaysiaKini)

RTS Link is fast taking shape
The Rapid Transit System (RTS) Link, a major cross-border project between Singapore and Malaysia, is fast taking shape, said Singapore Transport Minister, Khaw Boon Wan. “We are bullish about the upcoming RTS, linking Woodlands North Station to Bukit Chagar Station in Johor Bahru,” he posted in Facebook. Khaw said when completed in 2024, the RTS should be the preferred mode of transport for commuters crossing the Johor Straits. The trip between Woodlands North and Bukit Chagar on the RTS Link would be “a mere five minutes”. Last mile connection to the station via local buses and the bus rapid transit (BRT) will ensure a seamless connection. The RTS Link will cross the Johor Straits via a 25 metre high bridge. (The Borneo Post)

Inta Bina bags RM98mil housing contract
Inta Bina Group Bhd has been awarded a RM97.8 million contract by Medan Prestasi Sdn Bhd to develop two blocks of apartment in Damansara Damai, Selangor. Its wholly-owned subsidiary, Inta Bina Sdn Bhd, will be the main contractor for the proposed construction of two apartment blocks and a basement carpark. The scope of work for a period of 23 months includes the execution, construction and completion of the superstructure, architectural works and Tenaga Nasional Bhd’s substation. (The Malaysian Reserve)

UTC, 500 low-cost homes and stadium floodlights approved for Teluk Intan
Perak will get its second Urban Transformation Centre (UTC) in Teluk Intan. The new one-stop centre was one of the government’s initiatives to further improve the lives of Teluk Intan residents. Prime Minister Datuk Seri Najib Razak also announced the launch of a new People’s Housing project (PPR) in Teluk Intan, comprising 500 units in two phases of 250 houses each. Another was the installation of floodlights at the local SMK Seri Kandi stadium. (Malay Mail Online)

Customs Dept: GST compliance in Malaysia at healthy levels
The goods and services tax (GST) compliance in Malaysia is good even though there is still a need to continue to promote tax education. There were about 470,000 GST-registered entities, including individuals, companies, partnerships and joint ventures. A proposal has been made for a merger between the Royal Malaysian Customs Department and Inland Revenue Board (IRB), to promote audit efficiency and interaction between the two authorities in line with the practice adopted by other countries. (Malay Mail Online)