Muhyiddin is Malaysia’s new Prime Minister
Tan Sri Muhyiddin Yassin became Malaysia’s eighth prime minister yesterday after a tumultuous week which saw the nation plunge into a political crisis that needed the palace to intervene. Muhyiddin took his oath of office before Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah at Istana Negara yesterday. The president of Parti Pribumi Bersatu Malaysia (Bersatu) will now set out to choose his cabinet of ministers to run the government. The country will soon see another new cabinet line-up in less than two years after Pakatan Harapan took over Putrajaya. Against the backdrop of a gloomier global outlook plus the Covid-19 outbreak adding uncertainties to economic growth, amid the prolonged slowdown in the domestic property market, the business community will cast eyes on the candidates for finance, economic affairs, and housing development ministers, among others. Muhyiddin served as the former deputy prime minister under Datuk Seri Najib Razak’s government and was sacked from the post in 2015. The 72-year-old political stalwart from Muar, Johor formed Bersatu after he and Dr Mahathir were kicked out of Umno by Najib. (The Edge)
Mukhriz, Syed Saddiq to face disciplinary action; Dr M no longer Bersatu chair
Datuk Seri Mukhriz Mahathir and Syed Saddiq Syed Abdul Rahman will likely be facing Parti Pribumi Bersatu Malaysia’s (Bersatu) disciplinary committee, says its supreme council member Datuk Seri Mohd Redzuan Md Yusof. Redzuan said the party had its rules and would follow the required processes. Redzuan also noted that its secretary-general Datuk Marzuki Yahaya would also perhaps be replaced for violating party discipline. He added that as Tun Dr Mahathir Mohamed had resigned as the party’s chairman, thus, under the party’s constitution, he needed to be re-elected according to the party’s election process. Redzuan added that there were only three Bersatu members that were against Muhyiddin. He said they were Dr Mahathir, Syed Saddiq and Mukhriz. (The Star Online)
EXSIM geared up to launch projects outside of Klang Valley this year
EXSIM Development Sdn Bhd (EXSIM Group) is expanding outside of Klang Valley and has inked multiple agreements with landowners in Penang, Johor, and Perak. Its head of marketing and corporate communications, Michelle Siew said that the agreements were signed in the last few months and are part of the group’s strategy to venture out of Klang Valley for expansion. “We have secured the land, some via outright purchase and the rest we intend to develop jointly with the landowners. The signing stage is over. We are now planning the development and target to launch the projects starting this year,” said Siew. She said the projects will have a combination of residential and commercial properties and the ratio will depend on demand in the respective markets. The group expects its property sales to increase by at least 30 per cent this year, and it could surpass RM2 billion on the back of new launches in Klang Valley, and also in mainland Penang, Johor Bahru and Ipoh. Last year Exsim registered about RM1.5 billion in sales from its projects in Klang Valley. (NST Online)
Tropicana to launch township in Genting Highlands
Tropicana Corp Bhd’s key highlight in 2020 will be to introduce new developments and phases across its signature Tropicana townships with GDV exceeding RM2 billion. The developer is set to launch Tropicana Grandhill, the first township development in Genting Highlands, which sits 1,800m-high atop Mount Ulu Kali, on the border of Pahang and Selangor. The township has a potential gross development value (GDV) of up to RM15 billion. Tropicana said that based on the master plan, Tropicana Grandhill is expected to usher a new trend of holistic and health-centric resort living lifestyle in the highlands. Tropicana Grandhill will comprise residential, commercial, wellness, education and park. The first phase will be the TwinPines Serviced Suites with over 1,400 units of serviced apartments. (NST Online)
Genting Group seeks to halt proposed Genting Sky City project
The Genting Group has filed a suit against the proposed Genting Sky City development, claiming that the project does not meet development guidelines, given its location on a steep hillside which may destabilise land in the surrounding area and result in damage to the existing developments in its proximity. GM Aero Support is the developer of the project, while Sycal, a subsidiary of Main Market-listed Sycal Ventures Bhd, is the contractor. The Genting Group claims that the use of the “Genting” trade name for the project was done without any prior approval, licence and permission of the group. It said the development is in close proximity to the group’s First World Hotel and may result in the loss of proper or sufficient vertical or lateral support to the land, posing a risk of building collapse and landslide. Meanwhile, the defendants said that they had already obtained planning permission for Genting Sky City in July 2015, with the latest amendment granted on in Oct 2019. According to the Genting Sky City website, the development will comprise a 43-storey hotel and a 48-storey tower of fully-furnished commercial suites for sale, which can be leased out to tourists. (The Edge)
