GEORGE TOWN: The RM2.7bil Penang Sentral project in Butterworth is expected to generate economic spill-over effects of about RM8bil when the entire project is completed 10 years from now.Malaysian Resources Corp Bhd (MRCB) executive director Datuk Ahmad Zaki Zahid said at a press conference that work on the first phase, ... Read More

THE entity that will emerge from the proposed merger between IJM Land Bhd and Malaysian Resources Corp Bhd (MRCB) will be a mega property owner and developer with an implied market value of RM7 billion.IJM Land chairman, Datuk Krishnan Tan Boon Seng, said the entity was also expected to expand ... Read More

KUALA LUMPUR: Mah Sing Group Bhd will undertake a gated-and-guarded resort-style development in Batu Feringghi, Penang, with a gross development value (GDV) of about RM800 million, it said in a statement on Tuesday, Nov 23.The project - Ferringhi Residence@Penang - will be developed on a 61.03-acre freehold tract to be ... Read More

KUALA LUMPUR: Atlan Holdings Bhd (AHB) has proposed to sell seven land parcels in Penang for RM145 million cash, resulting in a net gain on disposal of RM80 million or 33 sen per share for the financial year ending Feb 29, 2012, it announced to Bursa Malaysia on Friday, Nov ... Read More

PENANG Bridge will be closed to all traffic between 1am and 10am this Sunday in conjunction with the Penang Bridge International Marathon.The closure also includes the access road leading to Penang Bridge Sdn Bhd (PBSB) office from the North-South Expressway and routes leading to the toll plaza from Seberang Jaya ... Read More

GEORGE TOWN: Penang Gerakan plans to address the issue of affordable housing in Penang since the present prices are beyond the reach of many local residents.State chairman Datuk Dr Teng Hock Nan said yesterday most of the property prices in Penang were now beyond the means of many middle-income wage ... Read More

THE rising prices of houses is still one of the hot topics among average Malaysians as the threat of higher inflation is growing by the day.The fact that Bank Negara had early this month imposed a lower loan-to-value ratio (LVR) for those taking up their third and subsequent mortgage loan ... Read More

AmTrustee Bhd, a trustee of CapitaMalls Malaysia Trust (CMMT), has entered into a conditional sale and purchase agreement on behalf of it, to acquire Penang's Gurney Plaza Extension for RM223.3 million.CMMT is managed by CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM).CMRM chief executive officer Sharon Lim said the purchase is ... Read More

Malaysia’s central bank will probably keep interest rates unchanged for a second consecutive meeting to support its economy as global growth weakens and inflation eases.Bank Negara Malaysia will leave its benchmark overnight policy rate at 2.75 per cent tomorrow, according to all 16 economists surveyed by Bloomberg News. The central ... Read More

PENANG-based furniture exporter Creative Furnishing Sdn Bhd is set to sign several joint-venture arrangements with its suppliers in the region. Its managing director Stanley T.C Chew said the tie-ups are expected to be firmed up by early 2011 and that the move was to ensure that better quality control is ... Read More