China’s property lifeline exposes banks to big losses, job cuts

(Nov 28): China’s escalating push to have its banking behemoths backstop struggling property firms is adding to a maelstrom of woes for the US$57 trillion (RM266.33 trillion) sector. Already stung by soaring bad loans and record low net interest margins, lenders such as Industrial and Commercial Bank of China Ltd (ICBC) may soon be asked...

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OTS Holdings to acquire factory, land in Johor for RM14.3 mil

OTS Holdings OTS has announced the proposed acquisition of a property in Johor, Malaysia through its wholly-owned subsidiary Ellaziq (Malaysia) at a purchase consideration of RM14.3 million ($4.1 million). The property, which consists of 1.66 hectares of freehold land and a factory unit for food processing, is currently owned by Yong Mei Foodstuffs Manufacturing (M)....

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Penang govt to consider undersea tunnel after finalising North Butterworth Container Terminal Expansion Plan

GEORGE TOWN (Nov 23): The State Legislative Assembly was on Thursday told that the implementation of the undersea tunnel will be considered by the state government after the North Butterworth Container Terminal (NBCT) Expansion Plan has been finalised by the Penang Port Commission (SPPP) in December 2023. State Infrastructure and Transportation Committee chairman Zairil Khir Johari (pictured) said based...

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Tropicana to unlock 800-acre landbank with GDV of RM43 bil in Johor

SINGAPORE (Nov 24): Bursa Malaysia-listed property developer Tropicana Corporation believes it is time to scale up its expansion in Johor, Malaysia. It intends to unlock 800 acres of “premium landbank” with a gross development value (GDV) of RM43 billion ($12.3 billion). Tropicana is no stranger to Johor. In 2010, it established a foothold in the state when...

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Crescendo sells third Pulai land for RM315 mil cash

KUALA LUMPUR (Nov 17): Crescendo Corp Bhd has announced its third land disposal in Pulai, Johor Bahru, this time three vacant pieces of land measuring 2.62 million sq ft for RM315.17 million cash to Microsoft Payments (M) Sdn Bhd. Crescendo, through its subsidiary Panoramic Industrial Development Sdn Bhd (PID), had earlier this month announced the disposal of...

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