Amcorp Properties signs 21-year REPPA with TNB
Amcorp Properties Bhd announced yesterday that it has signed a 21-year renewable energy power purchase agreement (REPPA) with Tenaga Nasional Berhad (TNB). Two renewable energy mini-hydro power plants with a capacity of 10MW each will be located at Sg Liang, Raub, Pahang and construction will take 24 months. Under the REPPA’s terms, TNB will purchase electricity generated from the mini-hydro power plants for a concession period of 21 years. (The Edge Markets)

Malton awarded RM208 mil contract for Royale Pavilion Hotel
Domain Resources Sdn Bhd, a wholly-owned unit of property developer Malton Bhd, has been awarded a RM208 million contract to build one block of Royale Pavilion Hotel. (The Malaysian Insider)

Security concerns affect property desirability in Sabah
Sabah’s image as a safe haven for tourists and foreign investors has been put at risk by the recent kidnapping case in Sandakan. Locals are becoming increasingly worried about the influx of refugees and migrants from Southern Philippines, and businesses are considering hiring armed guards to restore public confidence in their safety. This situation will impact Sabah property prices, especially in the East Coast, as people shift their families to relatively safer areas on the West Coast. (Daily Express)

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Maybank sells Papua New Guinea operations for RM418 million
Malayan Banking Bhd (Maybank) is exiting Papua New Guinea (PNG) by selling its entire equity interest to Kina Ventures for RM418 million cash. The deal is an effort by the bank to re-focus its resources and expand into markets in the Asian and Greater China region. (The Star Online)

Perduren on lookout to acquire O&G property assets
Property investment company Perduren (M) Bhd has plans to venture into oil and gas-related real estate within a year. The company is optimistic that the recent downturn in oil prices will make it possible for them to get a foothold on O&G sites, thus adding to its primary involvement of investment properties rental, and car park, hotel and recreation centre operations. (The Sun Daily)

I-Bhd 1Q earnings up by 68%
Property developer I-Bhd’s first quarter earnings rose to RM10.23 million, 67.7% higher than last year. The increase was boosted by higher recognition and sales of its current and on-going development projects. I-Bhd is the master developer behind i-City, which include Leisure Park @i-City and 3-star hotel Best Western i-City. (The Star Online)

Pahang Orang Asli sue TNB for land rights violation
A group of orang asli villagers in Pahang have filed a lawsuit against Tenaga Nasional Berhad (TNB) after they were forced out of their ancestral home to make way for a hydroelectric project. Over 1,000 villagers from Pos Lanai, Pahang were moved to a nearby settlement in 2012 with reassurance that their rights to the land, which predated British colonial days, would be intact. They felt betrayed when the land was permitted for use to build the Telom Dam. (The Malay Mail Online)