Gamuda accepts govt’s offer to take over its toll concession companies
Gamuda Bhd said its board of directors has deliberated and voted today to accept the government’s offer to acquire four highway concession companies linked to the group. “The board of Gamuda will make the appropriate announcements in due course after the going through the relevant due process with its respective associated companies and joint venture company,” the company said. On June 21, the government announced a RM6.2bil offer to acquire four toll concessionaires – Lingkaran Trans Kota Holdings (Litrak), Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint), Kesas Sdn Bhd and Projek SMART Holdings Sdn Bhd. Gamuda owns a 44% stake in Litrak, a 52% stake in Sprint, a 70% stake in Kesas and a 50% stake in SMART. (The Star Online)

TA Global to launch two Klang Valley projects worth RM2.9b in 2H19
TA Global Bhd will be launching two projects in the Klang Valley — ALIX Residences in Dutamas, North Kiara and TA 3 & 4 in KLCC — in the second half of this year (2H19), with a combined GDV of RM2.9 billion. Its CEO Tiah Joo Kim said ALIX Residences, with an estimated GDV of RM507 million, will be launched on July 12, while the RM2.4 billion GDV TA 3 & 4 will be launched in the fourth quarter of this year. Tiah added that the company is still actively looking for potential land banks in Malaysia and overseas. Presently, TA Global has 286.87 hectares (708.88 acres) of land bank in Malaysia, with 241.91ha in the Klang Valley. A total of 58.4ha in the Klang Valley and Johor are under planning and development. (The Ege)

M101 plans to build 10 iconic towers in Klang Valley
M101 Holdings Sdn Bhd is targeting to build 10 towers in 10 different strategic locations in Klang Valley with estimated GDV of RM4 billion. Its CEO Datuk Seth Yap said M101 aims to elevate Malaysia’s property scene to the next level by building iconic landmarks in the heart of Kuala Lumpur that will redefine the tourism industry. He said this initiative is also in support of the government’s tourism goals to grow the local economy and increase tourist arrivals. M101 SkyWheel is a luxury freehold project with practically two 80-storey towers in Kampung Baru North on Jalan Tun Razak and is the biggest development for M101. It has a basement integrated with a MRT station. The project will command a total GDV of RM2.2 billion upon its full completion, which is expected in 2023. (NST Online)

95% of civil servants below 30 don’t own houses, says Cuepacs
Almost 95% of civil servants aged below 30 do not have their own houses, according to Cuepacs president Azih Muda. He said this was because house prices were too high and civil servants could not afford them, adding most of them earned RM4,000 and below per month. “Also, about 75% of civil servants aged 40 and below do not have houses,” he added. However, he was unable to give actual figures when asked, only giving the percentage. Azih said although there were reports of many unsold units, these were priced at RM300,000 and above and, therefore, out of reach of civil servants. He noted about 55% of the 1.6 million civil servants had taken loans from the Public Sector Housing Financing Board to buy houses. (Free Malaysia Today)

Departure levy to be gazetted next month
The departure levy for outbound air travellers, which has become a bone of contention between the government and airlines since it was proposed in Budget 2019, will be gazetted next month for implementation in September, sources said. The government had initially planned to impose the levy from June 1. The government is in consultation with key industry players on the rates, which will be segmented to passengers flying to Asean countries and those beyond. It is understood that the rates in these two segments will be further tiered into economy class, business class and first class. According to sources, the government intends to provide exemptions to the proposed departure levy for infants, transit passengers, crew on duty, pilgrimage travel, government agencies and those who buy tickets before the levy is enforced. It is worth noting that the proposed departure levy is in addition to the existing passenger service charges (PSC) of RM11, RM35 and RM73 for domestic, Asean and international destinations respectively. (The Edge)