<div class=newsTextDataWrapInner><p>(Aug 9): Singapore’s&nbsp;Golden Mile Tower&nbsp;is on block for at least a third time in three years with a reduced asking price, the <em>Business Times </em>reported on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>The commercial building is priced at S$556 million (US$420 million or RM1.86 billion), about 7% lower than the S$600 million price tag in April last year, according to the local newspaper. That translates into S$1,117 psf, before in land-betterment charges and a premium to upgrade the lease to a new 99-year period, the report said.</p></div>

<div class=newsTextDataWrapInner><p>The deal reflects growing cracks in the city state’s commercial property sector with buyers seeking lower prices, due to high interest rates and changing work patterns. The last 10 retail and office transactions in Golden Mile Tower over the past five years have been above S$1,200 psf,&nbsp;data&nbsp;from Singapore’s Urban Redevelopment Authority showed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The owners of Golden Mile Tower plan to redevelop the site into two towers, including retail, offices and hotel spaces, the report said, citing Anna Tan, the business development director of Tag Realty, the sales agent. Tender for the tower will likely be launched later this month and close in October, Tan added.</p></div>

<div class=newsTextDataWrapInner><p>The 24-storey building was first up for sale in November 2022, with an asking price of S$650 million.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Tham Yek Lee</em></p></div>


Singapore’s Golden Mile Tower is on block for at least a third time in three years with a reduced asking price, the Business Times reported on Thursday.

The commercial building is priced at S$556 million (US$420 million or RM1.86 billion), about 7% lower than the S$600 million price tag in April last year, according to the local newspaper. That translates into S$1,117 psf, before in land-betterment charges and a premium to upgrade the lease to a new 99-year period, the report said.

Singapore’s Golden Mile Tower on sale again with lower price, Business Times reports

Southeast Asian countries such as Vietnam and Philippines are expected to boost coal trade and consumption this decade, industry officials say, even as demand from top consumer China approaches its peak.

Southeast Asia expected to boost coal trade as China approaches peak

China hawks in the US House overcame a last-ditch lobbying effort and passed legislation on Monday night that would blacklist Chinese biotech companies and their US subsidiaries.

The bill, approved by a vote of 306 to 81, now goes to the Senate.

US House passes bill to blacklist some Chinese biotech firms

UBS Group AG is exploring various partnership options for wealth management in India to tackle the intensely competitive environment, according to people with knowledge of the matter.

UBS weighing wealth tie-up to compete in cut-throat Indian market, Bloomberg reports

THE total net earnings of the FBM KLCI’s 30 component stocks in the second quarter (2Q) of the year amounted to RM18.7 billion, representing 22.3% growth compared with the same quarter a year ago.

All in, 23 companies reported better earnings year on year (y-o-y), led by IOI Corp Bhd (K...

Better 2Q corporate earnings could fuel rally on stock market

While some of our historical buildings are well preserved, others have been lost to modernisation.

For instance, Stadium Merdeka was close to being demolished to make way for an office complex in the 1990s. Due to its significance as an important and iconic landmark that symbolises Mala...

Cover Story: Preserving a piece of history for future generations

Malaysia’s Industrial Production Index (IPI) expanded by 5.3% in July 2024, following 5% growth in the previous month driven by a surge in manufacturing output, said the Department of Statistics (DOSM).

Malaysia's IPI expands 5.3% in July, driven by strong manufacturing output — DOSM

KUALA LUMPUR (Sept 10): The 17th World Chinese Entrepreneurs Convention (WCEC) is anticipated to boost trade and investment activities, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul: World Chinese Entrepreneurs Convention expected to boost trade, investments

Shares of Globetronics Technology Bhd (KL:GTRONIC) fell as much as 21.5 sen or 26.88% on Tuesday, resulting in the suspension of intraday short-selling on the counter.

Globetronics down 27%, intraday short-selling suspended

The Communications and Multimedia Commission (MCMC) welcomes the cooperation of the public to report social media content misusing images or videos of children.

Report social media content misusing images, videos of children to MCMC — deputy minister

KUALA LUMPUR (Sept 10): The government has always recognised the contribution of the Malaysian Chinese community in the country’s socioeconomic developments, as well as in economic, cultural, educational and industrial sectors, said Prime Minister Datuk Seri Anwar Ibrahim.

PM acknowledges Malaysian Chinese community’s role in country’s socioeconomic developments

<p>KUALA LUMPUR (Sept 10): A consortium comprising private equity (PE) firm KV Asia Capital Pte Ltd, Kumpulan Wang Persaraan (KWAP), and Indonesia’s Kapal Api Group has invested RM250 million into ZUS Coffee’s operator to support its global expansion.</p>


KWAP, Kapal Api, KV Asia Capital invest RM250m in ZUS Coffee, confirms The Edge report

<p>KUALA LUMPUR (Sept 10): Blogger Raja Petra Kamarudin died on Monday night in the United Kingdom&nbsp;at the age of 74.</p>


Blogger Raja Petra, who ran Malaysia Today website, passes away at 74 in UK

<p>Malaysia’s resilient economy and contained price pressures should allow it to keep interest rates unchanged for the rest of the year, even as global central banks pivot towards easing, according to Bank Negara Malaysia’s (BNM) deputy governor.</p>


BNM deputy governor sees OPR at 3%, growth at 5% in 2024

<p>A renewed wave of dip buying spurred a rebound in stocks after a selloff triggered by economic concerns, with traders now looking to this week’s inflation data for clues on the size of Federal Reserve (Fed) rate cuts.</p>


Stocks rise as buyers scoop up bargains after rout

<p>KUALA LUMPUR (Sept 10): Press Metal Aluminium Holdings Bhd (KL:PMETAL) said a fire incident occurred at its phase 3 smelter in the Samalaju Industrial Park on Monday (Sept 9) night.&nbsp;</p>


Press Metal says 3% of smelting capacity affected by fire incident

<p>The Federal Court has denied leave for <em>Sarawak Report </em>editor Clare Rewcastle-Brown to appeal the verdict against her in Terengganu Sultanah Nur Zahirah's defamation action involving a book about the multibillion-dollar 1Malaysia Development Bhd (1MDB) scandal.</p>


S'wak Report editor denied leave to appeal, must pay Terengganu Sultanah RM300k for defamation in 1MDB book

<p>The biggest US banks would face a 9% increase in capital requirements — a dramatic retreat from the original plan — after regulators agreed to sweeping changes to a proposed package of rules, according to people familiar with the matter.&nbsp;</p>


Biggest US banks’ capital hike chopped in half in latest plan by regulators

<p>SHENZHEN, China/SEOUL (Sept 10): China's Huawei Technologies unveils a three-way foldable phone on Tuesday, as it seeks to widen its lead over Apple in the world's biggest smartphone market, with a new form factor that has gained popularity in the China market.</p>


Huawei teases tri-fold smartphone, raising competition with Apple in China

<p>KUALA LUMPUR (Sept 10): Consumer stocks are expected to post softer quarter-on-quarter (q-o-q) results in 3Q2024, as weak consumer sentiment seen in 2Q2024 is expected to persist, said CIMB Securities.</p>


Softer 3Q for consumer stocks as weak 2Q sentiment to persist, says CIMB Securities

<p>RHB Research downgraded the Malaysian transportation sector from ‘overweight’ to a ‘neutral’ call, as key players Malaysia Airports Holdings Bhd (KL:AIRPORT) and Westports Holdings Bhd (KL:WPRTS) hit fair valuations, signalling limited upside.</p>


RHB downgrades Malaysian transportation sector to 'neutral'

<p>KUALA LUMPUR (Sept 10): Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday that the Malaysian government is willing to learn and adapt from China to foster a conducive environment to strengthen investment in the country.</p>


Anwar: Malaysia open to learn from China on fostering investments

<p>Asian stocks reversed early losses to rise marginally on&nbsp;Tuesday, following Wall Street's overnight rally, though concerns about a still-struggling Chinese economy&nbsp;kept sentiment in check.</p>


Asian shares rise with focus on US inflation test, Fed meet

<p>Hong Kong-based airport lounge operator Plaza Premium Group (PPG), owned by its Malaysian founder and chief executive officer Song Hoi-See, has put in place the <span>next-generation of family </span>leaders on its path to continued expansion.</p>


Plaza Premium Group sets the stage for the next generation

<p>The manufacturing sector’s&nbsp;sales value reached RM157.1 billion in July 2024, registering a 9.1% jump year-on-year (y-o-y) and marking the highest growth since February 2023, said the Department of Statistics Malaysia (DOSM).</p>


Manufacturing sector's sales value hit RM157b in July, highest growth since February 2023 — DOSM

<p>The Malaysia Competition Commission (MyCC) has issued a proposed decision against three companies for alleged bid rigging in six tenders issued by Perbadanan Putrajaya (PPJ) for maintenance works, valued at approximately RM45 million.</p>


Three companies face fine for bid rigging in RM45m PPJ tenders — MyCC

<p>The prosecution in Toh Puan Na’imah Abdul Khalid’s asset non-declaration case has indicated at the Court of Appeal on Tuesday that it is objecting to her appeal asking for the court to release her passport unconditionally.</p>


Prosecution to object to appeal by Daim's wife to release her passport unconditionally

<p>The 1Malaysia Development Bhd (1MDB)-Tanore proceedings have been postponed for two days, as former prime minister Datuk Seri Najib Razak has been hospitalised due to acute knee inflammation.&nbsp;</p>


1MDB-Tanore trial vacated as Najib hospitalised over knee condition

<p>KUALA LUMPUR (Sept 10): Malaysia’s palm oil stocks at the end of August rose 7.34% from the previous month to 1.88 million metric tonnes, the highest level in six months, data from the industry regulator showed on Tuesday.</p>


Malaysia’s end-August palm oil stocks up 7.34% to six-month high — MPOB

<p>China’s exports unexpectedly accelerated in August, reaching their highest value in nearly two years and providing a rare boost to an economy weighed down by deflationary pressures.</p>


China’s exports jump to two-year high in rare boost for economy

<p>The Malaysian Anti-Corruption Commission (MACC) in&nbsp;Terengganu has remanded an executive officer of a government-linked company (GLC) on suspicion of abusing her&nbsp;position to support the appointment of her&nbsp;husband's company in obtaining a RM1.4 million labour supply contract.</p>
