Plans to redevelop Highland Towers into recreational park
The Highland Towers redevelopment committee is now at the planning stage in terms of coming up with ideas to redevelop the site in Ampang. “I was made to understand that the Highland Towers site is not suitable for buildings or houses, so one idea is for it to be turned to a park or recreational space,” said Housing and Local Government Minister Zuraida Kamaruddin. According to Zuraida, the committee had met five times and identified the property owners, as well as sort out legal matters. The Highland Towers area was prime land, and was left abandoned after one of its three blocks of condominium units collapsed on Dec 11, 1993 in a major landslide that killed 48 people. (The Star Online)
Matrix Concepts plans RM1.6bil new launches in FY19
Property developer Matrix Concepts Holdings Bhd is targeting RM1.6bil worth of new property launches in FY19 on the back of resilient demand from homebuyers. It said the new launches would be situated mainly in its township developments, namely Bandar Sri Sendayan (BSS) in Negeri Sembilan and Bandar Seri Impian (BSI) in Johor. The group will also be launching its first high-rise serviced apartment in Kuala Lumpur – Chambers Kuala Lumpur – in the second half of 2018. It is confident of demand for homes in Bandar Sri Sendayan, which it attributed to the township’s appeal in terms of affordability, pricing, and locality, which are highly important qualities to a successful development. (The Star Online)
LBS Bina Group launches affordable homes in Alam Perdana
LBS Bina Group Berhad (LBS) has launched its much anticipated Rentak Perdana housing phase following overwhelming response from is affordable landed homes project at the Alam Perdana township. Rentak Perdana is the third phase of LBS Alam Perdana township’s affordable landed property development following the launch of Simfoni Perdana (Phase 1) and Irama Perdana (Phase 2) last year. Rentak Perdana landed properties comprises 856 units of double-storey terrace homes and 28 units of double-storey semi-detached homes. The housing development also includes some 40 facilities that caters to all lifestyle and age groups. (Malay Mail Online)
China firms propose RM41bil for Malaysia’s third national car project
Two companies from China have proposed to invest US$10bil (RM41bil) in Malaysia’s third national car project and build a regional automobile hub to cater for the region in southern Perak, according to official sources. Separately, Zhejiang Geely Holding Group has shown interest to participate in the national car project by upgrading its facilities in Malaysia. The investment of US$10bil by the two companies, said to be strong in global high-tech industry development, will spread over five years and the location chosen is near Proton City in Perak. “Geely has informed the government that it is keen to upgrade its operation in Malaysia and participate in the third national car project,” says an official. Last year, Geely acquired a 49.9% stake in Proton Holdings from DRB-Hicom Bhd. (The Star Online)
Jho Low is wanted by the Malaysian authorities to assist in 1MDB investigations
Jho Low says he will not surrender
Malaysian financier Jho Low, who is wanted for his role in the multi-billion-dollar scandal at state fund 1MDB, has said he does not expect to get a fair hearing anywhere and will not present himself to any country where his guilt has been predetermined. He has been identified by investigators in Malaysia and the United States as a key figure in the 1Malaysia Development Berhad (1MDB) case. Authorities in Malaysia and the United States are investigating how billions of dollars went missing from 1MDB. Malaysian authorities have issued an arrest warrant for Low, whose whereabouts are unknown. The financier, whose Malaysian passport has been revoked, has denied any wrongdoing. Last month, Malaysian police said they believed Low had left Macau for an unknown destination, evading arrest in Hong Kong. Malaysia has applied for an Interpol red notice to seek assistance from the United Arab Emirates, Indonesia, India, Myanmar, China and Hong Kong to detain Low. (NST Online)
