The Setiawangsa-Pantai Expressway (SPE), spanning 20.7km, will be officially accessible to motorists in its entirety at 11.59pm on Friday. This significant development includes the opening of the previously unaccessible 16.3km stretch comprising Sections 1 to 3, extending from Kerinchi to Setiawangsa. Section 4, covering 4.4km and connecting Setiawangsa to Taman Melawati, has been operational since...
An alarming trend of renovation scams is emerging as victims come forward to reveal contractors who have been defrauding unsuspecting individuals. The typical modus operandi involves contractors showcasing enticing renovation projects on their social media profiles, attracting victims seeking quotations to realize their home improvement dreams. However, problems arise after payments are made and work...
The Ministry of Transport (MOT) plans to initiate negotiations to continue the current Keretapi Tanah Melayu Bhd (KTMB) Tebrau Shuttle service between Johor Bahru and Singapore, even after the Rapid Transit Service (RTS) commences its operations. Transport Minister Anthony Loke noted that the bilateral agreement between Malaysia and Singapore for the RTS project includes a condition for terminating the...
Pavilion Real Estate Investment Trust (Pavilion REIT) reported a 34.5% increase in net property income (NPI) for the third quarter ending September 30, 2023, reaching RM121.35 million, compared to RM90.22 million the previous year. The boost in NPI was attributed to income generated from the newly-acquired Pavilion Bukit Jalil. Quarterly revenue also surged by 43.4% to RM199.21 million, up from RM138.94...
EcoFirst Consolidated Bhd has clarified that it still achieved a net gain despite selling eight out of 15 retail units at a lower-than-market price in a recent related party transaction. According to the property developer, the total gain from selling these 15 units exceeded the total original investment cost by approximately RM9.20 million. The disposal price for these units was appraised in a valuation...
Bank Negara Malaysia (BNM) has chosen to maintain its overnight policy rate (OPR) at 3% during its most recent Monetary Policy Committee (MPC) meeting, marking the third consecutive session where the OPR remains unchanged. Despite some calls for a rate hike to stabilize the ringgit, which has reached a 25-year low against the US dollar, BNM has opted to maintain the status quo since its last rate hike in...
Design and development work for the open payment system serving Malaysia's rapid rail network, managed by Prasarana Malaysia Bhd, is set to commence in March 2024, according to Transport Minister Anthony Loke. The infrastructure construction will be completed within 11 months, by February 2025, with 50% of the gantries at each station prepared for open payment. By August 2025, all gantries will be ready...
The recent discussion at the RAM Forum 2023 centered on whether raising the Overnight Policy Rate (OPR) is an effective tool for bolstering the Malaysian ringgit. Panellists at the forum expressed skepticism about the efficacy of this approach, particularly in light of the continued tightening of monetary policy in the United States. Maybank Investment Bank's Head of Fixed Income Research, Winson Phoon,...
Prime Minister Datuk Seri Anwar Ibrahim has underscored the importance of accelerating development and infrastructure projects while streamlining processes between the federal government and states, particularly concerning land transfers. This emphasis on expediency and efficiency was voiced after a meeting with representatives from the Northern Corridor Implementation Authority, the Iskandar Regional...
As we commemorate World Cities Day, it's essential to spotlight the role of purposeful urban design in creating sustainable cities. One shining example of this commitment to sustainability and inclusivity is Kuala Lumpur's Tun Razak Exchange (TRX). TRX represents a paradigm shift in urban planning, emphasizing the well-being of its residents and visitors. It's a place where thoughtful design prioritizes...
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