Thean Lee Cheng

Recent and archived articles by Thean Lee Cheng

13 Jun 2018 | 7:00 AM

Affordable housing under one roof

PUTRAJAYA: While it is still early days, the Housing and Local Government Ministry has decided to put four agencies in its preliminary stage to organise the affordable housing segment under one roof, according to its minister Zuraida Kamaruddin.

At her weekly media briefing, Zuraida(filepic) said she would first like to organise and coordinate the affordable housing segment currently under Syarikat Perumahan Negara Bhd, 1Malaysia Civil Servants Housing Programme or PPA1M, RUMAWIP or Rumah Mampu Milik Wilayah Persekutuan, and 1Malaysia People’s Housing Scheme or PR1MA.
4 Jun 2018 | 7:00 AM

TRX project – Mulia seeks government guidance

PETALING JAYA: Indonesian commercial property developer Mulia Group is seeking guidance from Putrajaya so that the iconic 106-storey building in Tun Razak Exchange (TRX) will be aligned with the mandate of the current government.

2 Jun 2018 | 7:00 AM

Mulia Group: Don’t penalise us because we came in during Najib’s time

STABILITY is the holy grail of investors. So, when Indonesia’s Mulia Group and Australia’s Lendlease, among other local and foreign investors, accepted the previous regime’s invitation to play ball at the Tun Razak Exchange (TRX), they thought the match would go on until the final whistle. They did not expect the match to be cancelled at half time.

Ready soon: Workers milling at the entrance to the office space area of Exchange 106. The Mulia Group says it is committed to completing the project as it has invested a lot of money in it.
30 May 2018 | 7:00 AM

Bank Negara said to have overpaid for land bought from MoF

PETALING JAYA: Bank Negara is believed to have overpaid for the land it had bought from the Finance Ministry (MoF) when it forked out RM2.066bil for the 67.41 acres, proceeds which subsequently went to service 1Malaysia Development Bhd’s (1MDB) debt obligations.

Although the transaction was concluded at RM703.44 per sq ft (psf), a source said the special-purpose vehicle (SPV) created by the MoF to undertake the transaction had initially wanted “a four-figure on a psf basis”, but the price was eventually negotiated down.
28 May 2018 | 7:00 AM

Tun Razak Exchange investors seeking clarity

PETALING JAYA: Government-linked companies that are scheduled to occupy the buildings at the Tun Razak Exchange (TRX) have been silent on their move as construction of the signature tower and other buildings near completion.

Hot issue: An aerial view of the TRX with Menara Prudential on the left. Next to it is Lendlease’s land which is still work-in-progress.
22 May 2018 | 7:00 AM

EPF buys Polish retail mall for RM1.4bil

PETALING JAYA: The Employees Provident Fund (EPF) has bought a retail mall in Poland but declined to say for how much or the annual net yield for the investment.

Galeria Katowicka is located in Katowice, about 260km from the Polish capital of Warsaw, and 70km from Krakow, the second-largest city. Katowice metropolitan area has a population of between three and 3.5 million.  The EPF in an email said: “This investment is expected to generate an attractive long-term yield for the investors.”
21 May 2018 | 7:00 AM

Bond money never reached TRX City

Development’s prospects of TRX City is now cloudy due to 1MDB investigations

Tallest building: Part of Mulia Group’s Exchange 106, which will be Malaysia’s tallest skyscraper when completed. 1MDB investigations and the new Government’s review of the previous administration’s projects are casting a pall over the TRX project.
15 May 2018 | 7:00 AM

Housing issues complex and need time to resolve

PETALING JAYA: The housing issues, be it in the affordable segment, the large number of unsold units and the oversupply of certain categories, are extremely “complex” and “will take time to solve,” the Real Estate and Housing Developers’ Association Malaysia (Rehda) said.

12 May 2018 | 7:00 AM

Commercial, social aspects of property ownership

BUSINESSWOMAN Aimee bought her first property as a 20-something. She started with local high-rise apartments and condominiums.

Changing perspective: Ang says capitalism has shaped our cities and changed our homes into investment units.
10 May 2018 | 7:00 AM

Political changes to spook market

PETALING JAYA: Malaysian assets in the capital markets will come under pressure following the shocking results of the 14th General Election.