KUALA LUMPUR: PLB Engineering Bhd’s wholly-owned subsidiary, PLB Land Sdn Bhd, has signed a sale and purchase agreement with Perfect Crystal Sdn Bhd to buy five parcels of land, totalling 611 square metres in north-east district in Penang, for RM5.5 million. The purchase will be financed from internally generated funds, it ... Read More

A REQUEST For Proposal (RFP) for another affordable housing project in George Town has been announced, this time on a 1.7ha plot in Jalan C.Y. Choy. Penang Local Government and Traffic Management Committee chairman Chow Kon Yeow expected 200 to 300 units of affordable housing and low medium-cost (LMC) units ... Read More

GEORGE TOWN: A RM75bil mixed development project proposed in Balik Pulau is too expensive and not viable, says the Malaysian Nature Society (MNS). MNS Penang branch adviser D. Kanda Kumar said it would be cheaper and more viable for a project of such scale to be developed on the mainland ... Read More

KUALA LUMPUR: The income limit of individual borrowers for My First Home Scheme (SRP) will be increased from RM3,000 to RM5,000 per month effective January 2013. This enhancement was one of the SRP’s eligibility criteria slated for improvement under Budget 2013’s announcement last year, Cagamas SRP Bhd said yesterday. For joint borrowers, ... Read More

THE standardised template that all commercial banks in Malaysia have been made to adopt for housing loan agreements will make it easier for customers to understand contract terms and shop around for loans, says the banking association. Chuah Mei Lin, executive director of the Association of Banks in Malaysia (ABM), ... Read More

PROPERTY developer Tambun Indah Land Bhd targets to launch at least five new projects in the first half of this year, with a total gross development value (GDV) of RM252.9 million. All of the projects will be in Penang, where the company has been active in recent years and will continue ... Read More

Value & Worth By Elvin Fernandez IN 2012, Malaysia’s economy continued its steady growth in the order of 5% to 6% a year, a range that it has settled into since the Asian financial crisis of the mid 1990s. The property market is correlated to economic growth. The residential subsector ... Read More

PETALING JAYA: From Jan 1, all commercial banks will be required to adopt standardised documents for housing loans and home financing agreements involving a principal sum of RM500,000 and below. Bank Negara said the move was to enhance borrowers’ understanding of the key terms and conditions of the loan agreements, including ... Read More

A SEMINAR on the Strata Management Bill 2012 as well as the Strata Titles (Amendment) Act 2012 will be held at Auditorium C and F, Level 5, Komtar, from 10am to 4pm on Jan 13. Komtar assemblyman Ng Wei Aik said many people were unaware of the new bill’s contents, ... Read More

PETALING JAYA: Kumpulan Jetson Bhd has announced that the heads of agreement between its unit Jetson Development Sdn Bhd and Fortress Effect Sdn Bhd for the joint development of a luxury residential development project in Penang, to be known as “The Macalister,” had been mutually terminated. “Upon the mutual termination, ... Read More