The Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 2.50%. It said the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.75% and 2.25%, respectively. “The reduction in the OPR is ... Read More

The Penang government is calling all housing developers to work with the state to develop affordable housing projects. State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state government would continue to lend their support and assist developers who are keen on developing affordable ... Read More

Ideal United Bintang International Berhad and its subsidiaries announced a consistent revenue above RM500 million in its financial year period ending 31 December 2019, with a Total Comprehensive Profit of RM87.9 million for the period. Profit attributable to owners of the company stood at RM58.15 million in 2019, representing an ... Read More

Malaysia’s best-selling property magazine, Property Insight has revealed its inaugural ‘Malaysia’s Top 100 Property Developer Brand’ ranking in collaboration with Acorn Marketing & Research Consultants (M) Sdn Bhd (Acorn Marketing). Acorn Marketing is the leading market research company and the largest independent Asian Marketing research and consultancy group across the ... Read More

IJM Land Bhd’s construction subsidiary, Jurutama Sdn Bhd, is set to develop the stalled RM4.5bil The Light City project, which is located next to the Penang Bridge. According to IJM Perennial Development Sdn Bhd general manager Tan Hun Beng, the details of the contract for the project were now being ... Read More

PLB Engineering has signed a conditional joint development agreement (JDA) with the Penang state government and its development arm to undertake rehabilitation works for the Jelutong dumpsite along Lebuhraya Tun Dr Lim Chong Eu in Penang in exchange for three-fourths of the rehabilitated land. PLB said it will be undertaking ... Read More

Ideal United Bintang International Berhad (IUBIB) has achieved yet another proud accomplishment with the completion of its hillside development – Forest Ville, which consists of 991 units of semi-detached concept condominium embraced within a lush and natural surrounding. The project has a gross development value of RM519mil and recorded a ... Read More

Phase 2 of the billion ringgit Penang Sentral integrated mixed-development project in Butterworth is expected to go full swing next year. The second phase entails the development of an office tower and retail mall, said MRCB Land Sdn Bhd chief executive officer Raymond Cheah. Cheah said, the office tower and ... Read More

The Cooperative Commission of Malaysia (SKM) is set to build a new town in Sungai Ara, Penang. Executive chairman Datuk Nordin Salleh said the project would be developed by SKM’s subsidiary, Sungai Ara Bhd (Tunas Muda). He said the new town, which will comprise residential units and various other amenities, ... Read More

The Penang government expects the construction work on the light rail transit (LRT), Pan Island Link (PIL) and Penang South Islands (PSI) projects under the Penang Transport Master Plan (PTMP) to begin by the fourth quarter of this year. Chief Minister Chow Kon Yeow said the state government and the ... Read More