News
Matrade Mission Identifies RM102 Million In Vietnamese Construction Projects
KUALA LUMPUR, — The Malaysia External Trade Development Corporation (MATRADE)’s recent marketing mission to Vietnam has identified RM102 million in potential construction business. The mission identified potential business in the construction of resorts, residential, commercial buildings, highways, maintenance and repair services and, tiling works. »
MIEA unveils own
The Malaysian Institute of Estate Agents (MIEA) now has a place to call its own after operating from rented premises all those years. President K. Soma Sundram said the 2,213sq ft office space located on the fifth floor of a building at the 3 Two Square commercial hub in section 19 of Petaling Jaya,... »
Putera Capital bids for RM9b jobs despite financial troubles
Putera Capital Bhd (Putera Capital) has bid for construction jobs worth about RM9 billion in Malaysia despite having its first restructuring proposal rejected by the authorities. The group is curre ntly awaiting response to its second revamp plan. Chief executive officer Wan Azman Wan Salleh said: “If all goes well, we can embark on... »
Waterfront developments in Danga Bay unveiled
JOHOR BARU: Iskandar Investment Berhad (IIB) has unveiled a 2.4ha integrated multi-million ringgit waterfront development in Danga Bay to attract international property investors, expatriates and local professionals. The development, due for completion in 2012, comprises two 38-storey residential towers known as Iskandar Residences and a 28-storey serviced apartment known as Oakwood Residence Johor operated... »
Putrajaya Waterfront Development
Putrajaya is located on a stretch of Malaysia between Kuala Lumpur and Kuala Lumpur International Airport. It will eventually be the most accessible city in Malaysia, surrounded by expressways, urban highways and railways. Tagged “The Garden City” because of its preservation of existing eco features and plans to set aside a third of its... »
Magna City project to be downsized
PETALING JAYA: Magna Prima Bhd has downsized its Magna City project in Kuala Lumpur to RM600mil from RM1.1bil in gross development value (GDV) due to slowing growth, according to chief executive officer Lim Ching Choy. “In view of the slowing economy, we reposition our development to suit the market demands,” Lim told StarBiz. “We... »
Malaysian timber set to get easy access into EU
KOTA KINABALU: Malaysia is on track towards a trade deal that would see the country’s timber products getting unrestricted access into the European Union (EU) market. EU ambassador Vincent Piket said the Forest Law Enforcement Gover- nance and Trade Voluntary Part- nership Agreement (VPA) would essentially assure EU member countries that Malaysian timber products... »
Contractors allowed to revise project costs
MALACCA: A total of 1,311 contractors involved in government projects have been allowed to make variations with regard to their project costs following the recent price hike in building materials. Works Minister Datuk Mohd Zin Mohamed said his ministry had so far paid out RM44.2mil as part of the permitted variation of price (VOP)... »
Steel companies make provisions
PETALING JAYA: Local steel makers are making provisions for their inventories following the sharp decline in prices of raw materials and finished products. On Tuesday, Perwaja Holdings Bhd and Choo Bee Metal Industries Bhd announced they had provisions of RM120.2mil and RM22.3mil respectively in the third quarter for impairment in the value of their... »
Changing the face of PJ
A NEW generation of office buildings have mushroomed in several parts of Petaling Jaya over the past few years in tandem with growing demand for better office space outside the city centre. However, as the economy faces tough challenges in view of the current global financial crisis, the local property market has also experienced... »