Malaysia is sixth best country for Americans to retire
Malaysia has been ranked the sixth best country in the world for Americans to retire, thanks to its low cost of living and high quality healthcare. According to International Living‘s Annual Global Retirement Index for 2017, Malaysia is one of the top 10 destinations, and the only Asian country on the list. It was cited as a “nexus for world cultures” due to its multicultural background, making it easy for expats to fit in, as well as popular for its idyllic islands, stunning beaches, untouched rainforests and “world class” food and shopping. Mexico topped the list, followed by Panama, Ecuador, and Costa Rica. Malaysia ranked number four last year in the index. (The Sun Daily)
Muted debut for KIP REIT on Bursa Malaysia
Shares of KIP REIT debuted on the Bursa Malaysia main market today at RM1.04, or 4 sen above its offer price, yesterday. It is the first REIT to be listed this year, raising RM234.2 million during its initial public offering (IPO) for the acquisitions of its six assets in Johor, Melaka and Selangor. The REIT’s IPO exercise saw the 10.2 million units offered to the Malaysian public oversubscribed by more than five times. The REIT has seen steady growth in its gross rental income for the past three financial years. (The Edge Markets)
Upgrading works for National Sports Complex to be completed in July
Work to upgrade the National Sports Complex in Bukit Jalil is expected to be completed in July, one month ahead of the 2017 Kuala Lumpur SEA Games, which will be held from 19 – 31 August. Athletes will only be allowed to train in the venues after obtaining the approval of the authorities, as there are a lot of heavy equipment in the construction area. The first phase scheduled for completion in July involve the National Stadium, the Putra Stadium, the National Aquatic Centre and the National Hockey Stadium, costing some RM500 million. The second phase involving the KL Sports City project costing RM1.1 billion will begin in early 2018. (Astro Awani)
First phase of Penang Sentral to be ready this year
The first phase of the Penang Sentral transportation hub is expected to be completed this year, almost a decade after the ground-breaking ceremony. MRCB, the developer for the project, said a 10-storey building is coming up on the former Butterworth bus station site. It will have shops, ticketing counters, prayer rooms, a food court, a nursery and 900 parking spaces to accommodate the needs of travellers. The entire project is divided into 8 phases, comprising a shopping complex, three 36-storey office blocks and a 35-storey hotel. Construction only began in 2015 due to land ownership issues. (The Sun Daily)
Artist’s impression of Penang Sentral
Gadang buys PJ land for RM55.7mil
Gadang Holdings Bhd’s indirect unit, Gadang Construction Sdn Bhd, is acquiring a leasehold commercial land in Damansara Perdana, Petaling Jaya for RM55.7 million cash. The construction and property development group said it bought the 2.66-acre land for investment due to its strategic location within Damansara Perdana and the likelihood of appreciating value. The proposed acquisition is slated for completion within nine months. (The Star Online)
Screenshot of the myPBA app
Penang launches ‘myPBA’ app for water supply services
The Penang Water Supply Corporation (PBAPP) has launched a “myPBA” app for Penang consumers to access the latest information on water supply services. The app also allow consumers to make payment for water bills and lodge reports directly to PBAPP. The mobile app has five key functions: access to online water supply accounts, mobile payment of water bills, reporting of burst pipes or other water supply issues, access to PBAPP public notices and also access to all information and news on water supply services in Penang. (Malay Mail Online)
Malaysian owners included in orders to sell Australian properties
Australia has ordered the sale of 15 properties illegally acquired by overseas buyers as part of the government’s crackdown on breaches of its foreign investment laws. The properties are located in Victoria and Queensland and have a combined purchase price of more than A$14 million (US$11 million). The foreign owners came from countries including China, India, Indonesia, Iran, Malaysia, the United Kingdom and Germany. Monday’s announcement brings the total of forced sales since the crackdown started two years ago to 61. (The Star Online)
The disused bauxite mining pond which had claimed the lives of three children on Saturday. – BERNAMApic
All disused bauxite mining ponds ordered to be filled after drowning tragedy
The Natural Resources and Environment Ministry has ordered all bauxite operators in Pahang to fill in and fence up disused bauxite mining ponds, as well as install warning signboards around the areas. The move is being taken following the drowning of three children in an abandoned bauxite mining pond near Kuantan on Saturday. Checks will be conducted on all disused mines in Kuantan to ensure the necessary actions are immediately taken. (New Straits Times Online)
