Malaysia-Singapore reach compromise over HSR postponement
Malaysia and Singapore appear to have reached a compromise over the implementation of the Kuala Lumpur-Singapore High-Speed Rail (HSR) project. According to The Edge, the move will see Malaysia being spared a RM500 million penalty for a two-year deferral of the project, which will be in effect until May 31, 2020. Citing sources, it said the agreement was reached “in a spirit of good neighbourliness”. The report also said that the original agreement to build the HSR, which was signed in 2016, did not contain provisions for a postponement. Malaysia would have faced up to RM500 million in penalties, had it decided to drop the project. (NST Online)

New lease of life for SStwo Mall
AsiaMalls Sdn Bhd, which has been seeking a buyer for SStwo Mall in Petaling Jaya for about three years, is understood to have finally found one. According to sources, the suburban shopping centre has been bought by Puchong-based DK Group of Companies for an estimated RM180 million. Sources said the mall was sold at below what the owner had sought at between RM200 million and RM250 million, but at par with its construction cost. SStwo Mall was permanently closed in March 2015 due to poor performance, just four-and-a-half years after it opened for business in 2010. (The Edge Markets)

Vertice-Vizione JV wins RM815mil Penang mega infrastructure job
A joint venture between Vertice Bhd and Vizione Holdings Bhd has won a RM815 million contract from Consortium Zenith Construction Sdn Bhd to undertake construction work for a package in the Penang mega infrastructure project. The contract entails the construction work for a 5.7km by-pass from Bandar Baru Ayer Itam connecting to Lebuhraya Tun Dr Lim Chong Eu. The construction period is estimated to take 36 months. (The Edge Markets)

New leaders to decide fate of Wisma MCA after party polls
MCA’S proposal to demolish its national headquarters in Kuala Lumpur to make way for a 70-storey skyscraper is stalled until after the party elections. A party insider said the matter will be “clearer” when new leaders take over after the elections in November. It was earlier reported that the project would involve “an eight-storey basement carpark, a 328-room hotel that will occupy 24 floors and a two-storey sky lounge and restaurant on the 68th and 69th floors”. The plans were approved by DBKL on Aug 2. (The Malaysian Insight)

(Photo by Fariz Iswadi Ismail/NSTP)

No discounts or exemptions for AES compounds starting September
No discounts or exemptions will be given for compounds issued for offences under the Automated Enforcement System (AES), starting Sept 1. Transport Minister Anthony Loke said those issued AES compounds are given a 60-day period to pay their RM300 fine. That traffic offenders under the AES would also be imposed demerit points. A traffic offender who reaches his first 20 demerit points would be issued a warning and for the next 20 points, one’s licence may be suspended or even revoked. Loke’s statement follows as JPJ takes over the Automated Awareness Safety System (AWAS) starting this month. AWAS is a combination of the AES and the demerit point system (Kejara). (The Edge Markets)