Ewein Bhd’s 60%-owned subsidiary Ewein Zenith Sdn Bhd (EZ) has been granted the right to acquire three parcels of land at Bandar Tanjong Pinang, Penang for a total of RM2.83 billion. In a filing today, Ewein said EZ had entered into a Memorandum of Agreement (MOA) with Consortium Zenith BUCG Sdn Bhd (CZBUCG) to grant…
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GEORGE TOWN (Jan 13): The State Land and Mines Office has been instructed not to authorise any land transactions involving 1Malaysia Development Bhd (1MDB) without the state’s prior approval. Chief Minister Lim Guan Eng (pictured) said this in relation to 1MDB president and group chief executive officer Arul Kanda Kandasamy’s recent admission that the 234…
Read MoreThe construction industry in Penang will likely remain flat this year, with a value of around RM6.8 billion, or almost similar to that posted in 2014, reported The Star. According to Penang Master Builders and Building Materials Dealers Association president Datuk Lim Kai Seng, the RM6.8 billion mark is “one of the highest in the…
Read MoreGEORGETOWN (Jan 5): Penang-based Aspen Group has set a sales target of RM1 billion this year after recording sales of RM900 million last year. Aspen Group CEO Datuk M Murly said the target will be achieved through four launches worth more than RM2 billion this year, including its maiden venture outside the island state. “This is…
Read MoreTHERE has been encouraging response for The Tamarind in Penang, the first executive apartments of Eastern and Oriental (E&O) Bhd. E&O marketing and sales general manager (Penang) Christina Lau said Tower A and Tower B of the project were 95% and 50% sold respectively. The project sits on 2.79ha of freehold land with an estimated…
Read MorePENANG (Dec 8): The National Heritage Department has been waiting for years for the Penang government to give its consent to gazette 18 buildings in the state as “national heritage”. Heritage commissioner Dr Zainah Ibrahim said since George Town was inscripted as a Unesco World Heritage Site, the department had identified the buildings to be gazetted. However,…
Read MorePENANG (Dec 7): Those who attended yesterday’s open session on the RM27 billion Penang Transport Master Plan were generally welcoming of the ambitious project. They were, however, also concerned about the impact it could have on the homes and the environment. The bulk of the questions raised were about the proposed master plan, which featured the…
Read MoreKUALA LUMPUR (Dec 7): Tanjung Pinang Development Sdn Bhd (TPD), a subsidiary of Eastern & Oriental Bhd (E&O), has secured RM1.084 billion worth of banking facilities for its Seri Tanjung Pinang Phase 2 (STP 2) reclamation project, according to E&O. “With the funding in place for STP2, one of the key aspects to operationalise the…
Read MoreDESPITE the property market slowing down in Penang, Mah Sing Group Bhd is still looking to the state to contribute about 10% to 12% to its 2015 fiscal year ending December 31. Last year’s contribution from Penang was around 10%. Mah Sing (North) senior general manager Law Wei Keong said that the group would launch…
Read MoreKUALA LUMPUR (Nov 24): Hotels, chalets, restaurants and houses are among the 11 illegal structures erected on the hills in the southwest district of Penang, according to the 2014 Auditor-General’s Report. The 11 illegal structures do not have a certificate of fitness (CF), which renders the Penang Island City Council (MBPP) unable to collect assessment…
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