Anwar released from prison, granted royal pardon
Malaysia’s former deputy prime minister Anwar Ibhrahim, jailed for sodomy four years ago, has walked free from prison after receiving a royal pardon. Anwar’s release is the first big success of the newly elected government. At 11.30am today, a frail but jubilant Anwar emerged from Cheras rehabilitation hospital in Kuala Lumpur where he has recently been serving his sentence after an operation on his shoulder. He will be heading to Istana Negara to meet the Yang di-Pertuan Agong. Anwar is scheduled to hold a press conference at his home in Segambut this evening. (The Guardian)
Mahathir: FDI welcomed, but ‘built-for-foreigners cities’ are not FDI
Tun Dr Mahathir Mohamad says he regards China as a friend of Malaysia but differed on what constitutes foreign direct investment (FDI) from the Asian giant, in an interview with the Wall Street Journal. He said FDI was about bringing in capital, technology, setting up plants, employing Malaysians up to the level of executives and producing goods for the local and export markets. “We do not consider coming into Malaysia, buying up huge pieces of land and developing towns and cities and then bringing in foreigners into this country as FDI. That is the difference,” he said. (The Star Online)
Ewein Land acquires a further 16% stake in CZC
Property developer Ewein Bhd’s wholly-owned subsidiary, Ewein Land Sdn Bhd (Ewein Land) inked share sale agreement (SSA) with Consortium Zenith Construction Sdn Bhd (CZC) to acquire a further 16% equity interest, comprising 160,000 ordinary shares in Ewein Zenith Sdn Bhd (Ewein Zenith). upon completion of the acquisition, Ewein Land’s equity interest in Ewein Zenith will increase from 73% to 89% and Ewein Zenith will become an 89%-owned subsidiary of Ewein. Ewein Zenith is currently constructing its maiden property development project in Penang, a luxury sea-front development known as ‘City of Dreams’ in Bandar Tanjong Pinang, overlooking Gurney Drive. The project is expected to be completed by end 2019, and has a GDV of RM800 million. (NST Online)
Enra sells 70% stake in property development firm for RM5.6mil
Enra Group Bhd has disposed of its 70% stake in property development firm Landmark Zone Sdn Bhd (LZSB) for RM5.6 million. LZSB completed its sole mixed development project, Shamelin Star, in Taman Shamelin Perkasa, Kuala Lumpur in December 2016. Enra said proceeds from the disposal will be used for investment or development of new viable businesses or assets and working capital. The group said there will be a net loss on disposal of about RM820,000. (The Edge Markets)
Phase 2 of Maybank’s HouzKEY to focus on secondary market
Maybank Islamic Bhd’s HouzKEY, Malaysia’s first bank-initiated rent-to-own (RTO) scheme, will launch its second phase which will see the scheme being expanded to cover properties on the secondary market. Real estate agents who are interested to participate in the scheme can submit the relevant documents related to the property to Maybank Islamic which will then assess the property ownership status and valuation. When approved, Maybank Islamic will publish the property listing on the Maybank2Own HouzKEY web portal. Interested buyers can request to view the property and submit applications online to enter into an RTO scheme for the property if they intend to own it. Successful applicants may move into the home after paying three months’ rental deposit, while the property is considered sold to Maybank Islamic under the HouzKEY scheme. (The Edge Markets)
