Zahid at court to face 45 criminal charges
Former deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi is at the Sessions Court today to face 45 charges of money laundering, corruption and criminal breach of trust. He will be the second top-level leader from Umno to face legal battle since the May 9 general election. Both Dr Ahmad Zahid and former prime minister Datuk Seri Najib had separately turned up at the MACC headquarters yesterday. However, while Dr Ahmad Zahid was arrested, Najib was only questioned and later left. Zahid is said to have used RM800,000 belonging to the Yayasan Akal Budi foundation to pay off credit card bills. The foundation was set up by his family to help eradicate poverty and to provide Islamic education. (The Star Online)
Government to build 200,000 affordable houses
A total of 200,000 affordable houses are targeted to be built in the remaining 11th Malaysia Plan period, said Prime Minister Tun Dr Mahathir Mohamad. This initiative is in line with the objective to improve the wellbeing of the rakyat; efforts will be intensified to provide quality and affordable housing and increase home ownership. The National Affordable Housing Council will be established to oversee the implementation of affordable houses nationwide. The various public affordable housing initiatives under several ministries and agencies will be rationalised under the Ministry of Housing and Local Government. (The Edge Markets)
Abandoned projects in Kuala Lumpur to be revived
Federal Territories Minister Khalid Samad is looking at plans to revive abandoned projects in Kuala Lumpur such as Plaza Rakyat. He said there were legal complications that had to be tackled but the government was giving emphasis to the issue because the projects were ‘sticking out like a sore thumb’. He added that there had been good progress on Plaza Rakyat as the developer had shown commitment to ensuring that the project would resume. The Kuala Lumpur City Plan 2020 to 2040 will include city planning and development and plot ratio as well as finding ways to resolve city congestion problems and improve the road system. (The Edge Markets)
Aerial view of the abandoned Plaza Rakyat project in Jalan Pudu (Photo from The Star Online)
Kerjaya Prospek to develop project worth RM1bil
Kerjaya Prospek Property Sdn Bhd is developing a mixed development project with a GDV of RM1.1bil at Old Klang Road, expected to be launched in the first quarter of 2019. Executive chairman Datuk Tee Eng Ho said the project, sprawled over 2.1 ha and slated for completion in 2022, would consist of the 276-room “Courtyard by Marriott”, two towers of 68-storey service apartments and offices. A Memorandum of Cooperation (MoC) was signed between Kerjaya Prospek and Marriott International, in which Marriott International would operate Courtyard by Marriott under a 10-year contract. Kerjaya Prospek will design and construct the proposed mixed development project. (The Star Online)
LBS Bina bags two BrandLaureate awards
LBS Bina Group Bhd recently picked up the International Property Development Award, while its group managing director Tan Sri Lim Hock San was conferred the Lifetime Achievement Award at the BrandLaureate Special Edition World Award 2018. The BestBrands in International Property Development Award recognised the group for exemplifying a number of key criteria associated with successful brands, including an effective brand strategy to address challenges and brand leadership highlighting a healthy and consistent performance. Meanwhile, the Lifetime Achievement Award 2018 was in recognition for Lim’s vision and excellence as a long-standing brand leader, adding the group managed to sustain a diverse portfolio and solid performance. (The Sun Daily)
