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DBKL REVISITS “INCREASED” PLOT RATIOS FOR DEVELOPMENTS IN KULA LUMPUR Property projects that were previously granted “Approval in Principle” with a higher plot ratio than what was permitted under the newly gazetted Kuala Lumpur City Plan 2020 (KLCP 2020), are required to seek fresh approvals from Kuala Lumpur City Hall (Dewan Bandaraya Kuala Lumpur, DBKL)….

CREST BUILDER CHANGES PROJECT PLAN Construction and engineering group, Crest Builder Holdings Bhd, is converting 17 floors of office space in its transport-oriented development (TOD) to mainly small offices, home offices (SoHos). The company will also reduce the size of a handful of larger-sized units of about 2,000 sq. ft. to overcome issues of affordability…

500,000 AFFORDABLE HOMES FOR PERAK STATE A total of 50,000 affordable homes will be constructed over the next five years in Perak. The Perak State Government has identified several areas in need of such housing projects, which include the Kinta Valley, Manjung, Kerian and Muallim districts. The government has currently signed a memorandum of understanding…

FEDERAL GOVERNMENT, KELANTAN TO WORK ON AFFORDABLE HOUSING AND SOLID WASTE DISPOSAL The Federal Government, via the Ministry of Housing and Local Government, will work with the Kelantan State Government to build affordable housing projects and manage the solid waste disposal system within the state. Regarding the issue of abandoned houses, there are 12 abandoned…

NOVEMBER IPI HIGHER BY 2.5% Malaysia’s manufacturing and electricity sectors recorded higher output in November 2018, raising the country’s Industrial Production Index (IPI) by 2.5% year-on-year (y-o-y). However, it was lower than the 4.2% y-o-y growth recorded in October 2018. According to the Statistics Department, the manufacturing sector output expanded by 3.6% in November 2018…

MALAYSIAN ECONOMY NOT HEADING TOWARDS A RECESSION Malaysia is not expected to enter a recession in 2019, despite weaker economic growth expected to adversely impact the economy on a minor scale. The Malaysian Deputy International Trade and Industry Minister denoted that the government will introduce measures to mitigate the effects of a forecast economic slowdown….

STAMP DUTY INCREASE FOR PROPERTIES EXCEEDING RM1 MILLION DEFERRED SIX MONTHS TO JULY 1, 2019 The increase from 3% to 4% in stamp duty for the instrument of transfer for property exceeding RM1 million is now effective July 1, 2019 to encourage the sustainability of activities in the real estate sector. As announced in the…

MRT CORP IS FIRST IN ASIA TO ACHIEVE BIM LEVEL 2 ACCREDITATION Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) has become the “first infrastructure developer in Asia” to achieve Level 2 accreditation in the use of Building Information Modelling (BIM) for the MRT Sungai Buloh-Serdang-Putrajaya (SSP) line, in accordance with British standards. BIM is…

ALIBABA OPENS FIRST STORE IN MALAYSIA Alibaba Group’s unit, Lumahgo Sdn Bhd is collaborating with Tmall World (a spinoff of Chinese online shopping website, Taobao) and Lorenzo (a lifestyle furniture retailer) to set up its first retail store in Malaysia. Occupying 500 sq. ft. of retail space, the Lumahgo X Taobao Selection Store is located…

GAMUDA CLAIMS PREVIOUS GOVERNMENT DID NOT ACCEPT NEW DESIGN PROPOSAL The previous government’s decision not to consider an alternative design proposal for the 51km Sungai Buloh-Serdang-Putrajaya (SSP) Mass Rapid Transit (MRT) project has led to heightened costs. As the project development partner (PDP), Gamuda was obligated to complete the project as per the agreements made….

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