Latest news with #PLB
Scoop
6 days ago
- Politics
- Scoop
Locals Challenge Puketāpapa Local Board And Auckland Council's On-Leash Policy Change For Monte Cecilia Park
Dog Lovers of Monte Cecilia Incorporated (DLMC), an advocacy group representing over 500 dog owners and allies, has filed a judicial review in the High Court challenging Auckland Council (AC) and the Puketāpapa Local Board's (PLB) decision to change dog access rules at Monte Cecilia Park. DLMC is also seeking an interim order from the Court to restrain Auckland Council and the Puketāpapa Local Board from enforcing the On-Leash Policy until the judicial review is resolved. The group alleges that the PLB's decision to impose an on-leash rule for the park's popular off-leash 'Bowl' Area was made without sufficient evidence, failed to consider alternative solutions, and disregarded overwhelming public opposition. DLMC further contends that the decision was inconsistent with the Auckland Council Policy on Dogs 2019, predetermined by the PLB, and in breach of the Local Government Act 2002. Notably, 88% of public submissions opposed the change, and a petition with over 1,000 signatures was submitted to the Council in support of maintaining off-leash access. 'This decision unfairly penalises responsible dog owners and undermines the well-being of both dogs and the wider community,' DLMC said in a statement. 'We are committed to ensuring that Monte Cecilia Park remains a safe and welcoming shared space for all Aucklanders.' DLMC is seeking to overturn the on-leash decision and reinstate the previous off-leash rule. The group underscores the importance of evidence-based and community-driven decision-making, and remains hopeful that the Court will recognise the merits of the case and uphold the rights of dog owners in Monte Cecilia
New Straits Times
02-05-2025
- Business
- New Straits Times
PLB Engineering to dispose of land in Penang for RM48mil
KUALA LUMPUR: PLB Engineering Bhd's wholly owned subsidiary PLB Land Sdn Bhd has entered into a sale and purchase agreement with Telaga Raya Sdn Bhd to dispose of 80.72 hectares of land in Tasik Gelugor, Penang, for RM48 million. In a filing with Bursa Malaysia today, PLB said the disposal forms part of the group's strategy to monetise and crystallise the value of its landbank. The company said the proceeds from the proposed disposal will be used to repay bank borrowings, thereby reducing the group's gearing level, improving its financial position by enhancing the current ratio, and strengthening cash flow through lower interest expenses. "Based on the consideration of RM48 million, the proposed disposal is expected to result in a gain of approximately RM12.88 million," it said. PLB added that the proposed disposal will not have any effect on its issued share capital or substantial shareholders' shareholdings, as it will be fully satisfied in cash without involving the issuance of new ordinary shares. Barring any unforeseen circumstances and subject to all relevant approvals being obtained, the proposed disposal is expected to be completed by 2025.
The Star
02-05-2025
- Business
- The Star
PLB Engineering unit to dispose of Penang land for RM48mil
KUALA LUMPUR: PLB Engineering Bhd 's wholly-owned subsidiary, PLB Land Sdn Bhd, is disposing of five parcels of vacant freehold land at Jarak Atas, Tasik Gelugor, in Penang for RM48mil to repay bank debts and improve its cash flow. The group said it purchased the lands - which have a combined size of 807,157sqm - for RM25.48mil back in June 11, 2013. As at Aug 31, 2024, the lands held a net book value of RM30.38mil. PLB expects to gain about RM12.88mil from the disposal, after deducting the investment cost and land related cost for the six months ended Feb 28, 2025, as well as estimated expenses and taxation. PLB said in its bourse filing it plans to utilise the proceeds of the sale to repay bank borrowings of RM10mil and trade creditors and working capital of RM33.33mil. Of the remaining proceeds, RM606,000 will be used to cover the estimated expenses of the proposed disposal, and RM4.07mil go to taxes. The proposed disposal is expected to be completed in 2025.
Free Malaysia Today
27-04-2025
- Business
- Free Malaysia Today
Proposed landfill reclamation creates perception of ‘selling out' to China, says NGO
ProtectKarpal chairman AD Chandrasekaran said the four-year recycling, reclamation and 20-year development plan would choke local traffic, displace small businesses along Karpal Singh Drive and erode the area's appeal. (File pic) GEORGE TOWN : An NGO has urged Prime Minister Anwar Ibrahim to reject outright the proposed 70-acre reclamation project at the Jelutong landfill, arguing among others that it creates the perception of 'selling out' to China. In a meeting with residents of the Karpal Singh Drive area today, Protect Karpal Singh Drive action committee (ProtectKarpal) chairman AD Chandrasekaran called for the matter to be discussed in the state assembly. 'The DAP-led Penang government and its role in the (ruling) federal coalition risk severe backlash as this arrangement feeds directly into long-standing public concerns about foreign influence. 'If the project is approved, it would confirm critics' accusations against DAP's ethnic Chinese leadership of prioritising China's interests over Malaysian sovereignty, public health and environmental protection. 'Transferring this strategic location to a company directly controlled by the Chinese government raises serious national security implications that cannot be overlooked. 'The state and federal governments must demonstrate their commitment to protecting Malaysian interests,' the NGO also said in a statement. At the centre of the controversy is a land-for-works arrangement involving China Railway Engineering Corporation (M) Sdn Bhd (CRECM), a unit of the China Railway Group. PLB Engineering Bhd's joint development agreement with the Penang government and Penang Development Corporation grants PLB 75% of the 90-acre dumpsite and 70% of any additional reclaimed land in exchange for landfill rehabilitation. A memorandum of understanding between PLB and CRECM also allows the China entity to fund and execute RM1.01 billion of rehabilitation work in return for 90% of PLB's entitled land. Chandrasekaran said under the project, continuous construction and recycling machinery noise is projected to exceed the threshold of 65dB(A) during the day and 60dB(A) at night, thus disrupting sleep, impairing cognition and lowering the quality of life for thousands of residents in the area. He added that the four-year recycling, reclamation and subsequent 20-year development plan would choke local traffic, displace small businesses along Karpal Singh Drive and erode the area's appeal as a recreational and dining precinct. Jelutong MP RSN Rayer, who was present at the meeting, said he would bring the matter up with Penang chief minister Chow Kon Yeow and Sungai Pinang assemblyman Lim Siew Khim.
Reuters
25-02-2025
- Business
- Reuters
Swiss lawmakers want to push back public liquidity backstop
ZURICH, Feb 25 (Reuters) - Swiss lawmakers want to push back the introduction of a permanent public liquidity backstop (PLB) for big banks, linking the safety net to a forthcoming government proposal on capital requirements for lenders like UBS (UBSG.S), opens new tab. The unanimous decision by an upper house committee needs to be confirmed in parliament in its upcoming spring session and potentially delays the introduction of Switzerland's permanent PLB until after 2026. A PLB provides cash to lenders in serious trouble, and in 2023 Credit Suisse accessed one via an emergency law before the bank collapsed and was bought by UBS. The exact design of the permanent PLB can only be defined in the overall context of Switzerland's too-big-to-fail regulations, lawmakers found after consulting with the authors of a recent Bern University study and other academics. While the committee "supports the PLB in principle," substantive discussions should be suspended until the Swiss government has clarified how it wants to regulate systemically important banks, it said in a press release on Tuesday. In December, Swiss lawmakers called for stricter oversight of the financial sector after investigating the collapse of Credit Suisse and directed sweeping recommendations and requests at the government.
