AmInvest wins Best Pension Fund Manager and Institutional House for 3 years straight
AmInvest has been named Malaysia’s “Best Pension Fund Manager” and “Best Institutional House” at Asia Asset Management‘s Best of the Best Awards held recently, making it the third consecutive year AmInvest has received both accolades. Asia Asset Management is a leading Asian financial publication based in Hong Kong, and has acknowledged the most outstanding players in fund management business in Asia over the last 13 years. The “Best Pension Fund Manager” award recognises its capabilities and expertise in managing domestic pension mandates including private retirement scheme (PRS), while the “Best Institutional House” award evaluates and acknowledges asset managers. With approximately RM36 billion assets under management currently, AmInvest is one of the leading fund management houses in Malaysia. (The Edge Markets)
Desa Kudalari condominium draws 12 bidders
The en bloc sale of the 7.35-acre freehold Desa Kudalari condominium in the heart of Kuala Lumpur has drawn 12 local and foreign companies in the bidding process. All of the bidders are said to be “very strong parties… the who’s who of the industry”, according to deputy managing director of property consultancy WTW, Danny Yeo. He declined to name the interested bidders, only saying that they were both local and international firms, and some of them owned properties and land near Desa Kudalari. To be able to attract such strong interest amid the cautious market environment shows that industry players recognise the long-term value of the Desa Kudalari condominium land. (The Edge Markets)
Floods, haze from next month until October
According to prediction by Singapore-based Asean Specialized Meteorological Center (ASMC), Malaysia will experience transboundary haze from June to October, with some areas also suffering from floods. The transboundary haze is expected to travel from Sumatra and Kalimantan to Malaysia, but it is hoped that the La Niña phenomenon would bring more rain to end the dry spell and haze situation in the country. (My Sin Chew)
Iris Corp sells 29.8% of Versatile Creative for RM21mil
Iris Corp Bhd is disposing 29.83% of Versatile Creative Bhd for RM21 million to unlock the value of assets which are not part of its core business. Iris, which core activites range from digital identity, business, farming and environmental solutions, had signed a SPA to dispose of the stake comprising 35 million shares of 50 sen each. The move is part of the group’s exercise to realign its focus on its core business which includes education and property development. Its current projects are the Sentuhan Kasih and Rimbunan Kasih projects in Peninsular Malaysia, construction of schools in Sarawak and the housing development projects in Papua New Guinea. (The Star Online)
Potential parking woes in Subang Jaya when LRT extension opens
The opening of the LRT Kelana Jaya Line extension in Subang Jaya next month has raised concerns on potential parking problems due to the absence of its planned park-and-ride facility there. Prasarana had submitted plans to MPSJ for park-and-ride facilities at the stations near Subang Parade (Station 4) with 1,384 lots and Summit USJ (Station 7) with 1,475 lots. Representatives from Prasarana and Sime Darby had commented about land acquisition issues between both companies. Potential LRT riders should be mindful of where they park, as residents associations in nearby areas had called for action to be taken against those who parked their vehicles in housing estates. (The Star Online)
Tawau residents stop demolition of illegal houses
The Tawau Municipal Council (TMC) has postponed the demolition of about 30 illegal structures at the Old Air Port area following objections and obstruction from the residents there. The protestors claimed that they did not receive any notice from TMC and their plight was ignored by representatives in the area. According to TMC president Alijus Sipil, TMC does not need to get a court order to demolish the illegal houses and squatters in the district because it has special powers to dismantle illegal housing. He also pointed out that the residents had been given several notices not to rebuild their houses that were destroyed in a fire on Jan 29, and were offered houses at the People’s Housing Project (PPR) in Semarak. With the operation temporarily stopped, Tawau police chief ACP Fadil Marsus told residents they should no longer build new structures there. (The Borneo Post)
