Penang returns Love Lane shophouse for RM10
The dispute between the Penang government and a Chinese clan group over a heritage shophouse appeared to be settled today, with Penang Chief Minister Chow Kon Yeow offering the Penang Chinese Clan Council the 50 Love Lane shophouse it had seized in 2013 at a nominal fee of RM10. The clan was also required to pay RM23,132.56 in land tax arrears. The shophouse in question was once owned by the Ghee Hin Society, and was seized by the Penang government in 2013 after the society defaulted on the assessment. Chow said there were several conditions attached to the offer, including that the building not be used for any purpose other than a museum and an “early Chinese settlement interpretation centre”. The council was also barred from mortgaging, letting, subletting or transferring the ownership of the building in any way. It must also restore the building within five years in accordance with heritage building guidelines. (Free Malaysia Today)

Malaysia and Japan to revive Look East policy
Malaysia and Japan will rejuvenate and upgrade the Look East Policy to deepen collaboration and strengthen business competitiveness for both countries. Prime Minister Tun Dr Mahathir Mohamad pointed to education, training and investment as among the areas that Malaysia and Japan could benefit from working closely with each other. He also hoped that Japanese universities would set up their branches in Malaysia. Japanese Prime Minister Shinzo Abe said that Japan would continue to support Malaysia’s growth going forward, particularly in enhancing the bilateral relationship to a new level. He said the new policy would also promote investment and expand opportunities and space to many able Malaysian people to be active in both Malaysia and Japan. The Look East Policy was first introduced by Dr Mahathir in 1982 to help drive industrialisation in Malaysia. (The Star Online)

M101 Group emerges as substantial shareholder in Meda Inc
The founder and CEO of M101 Group of Companies Datuk Seth Yap Ting Hau has emerged as a major shareholder with 25.5% equity interest in Meda Inc Bhd. Meda Inc is primarily involved in property development of commercial and residential projects, with some notable projects being the exclusive Scott Garden townhouses and Scott Towers condominiums in Johor Bahru, as well as the luxury country township of Westlake View in Sungai Siput, Perak. The company is also involved in property investment, hotel operations, oil palm cultivation and the provision of project management services. Yap said that the acquisition fits well with M101’s strategy to enhance its position as a property developer by championing the property tourism business. (The Edge Markets)

Aspen associate buys 28.7ha Shah Alam land for logistics, e-commerce hub
Aspen Group Holdings Ltd, via its 30% associate company Global Vision Logistics Sdn Bhd (GVL), has acquired 71 acres (28.7ha) of leasehold industrial land in Section 16, Shah Alam, Selangor, from Chemical Company of Malaysia Bhd for RM190 million. GVL intends to develop the area into a sustainable integrated logistics, warehousing and e-commerce hub. According to the Penang-based, Singapore-listed developer, the proposed development will consist of warehouses, storage areas, distribution centres, offices, e-commerce services, transportation hub and packaging facilities that will have direct access to railway lines and major highways. The gross development value of the proposed development will be determined once a master development plan is finalised in the near future. (The Edge Markets)

(Photo from The Star)

Free parking on weekends in Melaka, including tourist areas
Melaka will no longer impose parking fee on weekends and public holidays, including at tourist hotspots, said Melaka Housing, Local Government and Environment Committee chairman Tey Kok Kiew. The collection of parking fees at gazetted parking lots within the historic city centre on weekends would stop on June 15, the first day of Hari Raya. Free parking covers tourism belts including Taman Melaka Raya, Bandar Hilir and Jonker Walk. It is hoped that the move will draw more tourists to the state and put an end to the menace of touts collecting parking fees, he said. Tey also said parking hours during weekdays have also been changed from 9am to 5pm, compared to 8am to 6pm now. However, the parking fee exclusion is not applicable to private parking areas or the 12 privatised companies commissioned by MBMB. Users can pay for parking via coupons of the “Smart Parking Melaka” mobile app. (The Star Online)