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Nod for National Housing Policy

PETALING JAYA: The National Housing Policy has been approved by the Cabinet two weeks ago, said National Housing Department director-general N. Jayaselan, and its main thrust is the separation of public and private housing, with an emphasis on renting.

“So the issue today is more than just whether a buyer has the capability to pay the downpayment of a house. It is also whether he can finance the loan and whether he can pay for the house’s monthly maintenance,” Jayaselan(pic) said at Rehda Selangor Housing Convention.

Utusan selling KL land for RM18mil

PETALING JAYA: Utusan Melayu (M) Bhd has entered into a conditional sale and purchase agreement with Strong Skyhutch Sdn Bhd for the proposed disposal of an industrial leasehold land in Kuala Lumpur.

In a filing with Bursa Malaysia, Utusan said the property is located at Lot 648, Jalan Tiga Off Jalan Chan Sow Lin.

Malton reports drop in Q1 profit

KUALA LUMPUR: Malton Bhd, the property developer controlled by tycoon Tan Sri Desmond Lim Siew Choon, posted a steep drop in net profit in the first quarter ended Sept 30.

Utusan sells Jalan Tiga land for RM18mil

KUALA LUMPUR: Utusan Melayu (M) Bhd, the publisher of Utusan Malaysia, has proposed to sell a piece of industrial land in Kuala Lumpur for RM18mil to raise cash.

Maybank, CIMB lift KLCI at midday, Scientex top gainer

KUALA LUMPUR: Maybank and CIMB provided the much-needed boost to the FBM KLCI at the midday break on Thursday while Scientex advanced as investors were positive on its takeover of competitor Daibochi.

KLK posts lower net profit of RM753mil in FY18

KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) recorded a lower net profit of RM753.33mil in the financial year ended Sept 30, 2018 (FY18) against RM1.01bil chalked up in FY17.

KLK said on a year-on-year basis, the plantations segment's profit dropped 45.9% to RM698.4mil while the properties segment decreased 6.6 per cent to RM37.8mil.

India's Fortis to buy leased assets with Malaysia's IHH funds

NEW DELHI: India’s Fortis Healthcare Limited said a big chunk of the 40 billion rupees investment it has received from Malaysian hospital operator IHH Healthcare Bhd will be used to buy its leased properties in India.

There are about a dozen hospital facilities Fortis operates on leased property and their acquisition will save the company some 3.5 billion rupees per year in rental costs, Fortis chief executive officer Bhavdeep Singh told Bernama.