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The Sun
27-05-2025
- Business
- The Sun
Gamuda Land acquires 336-acre plot for RM248.7m
PETALING JAYA: Gamuda Land has acquired a 336-acre land parcel at the southern tip of the 1,530-acre Gamuda Cove development. This expansion is a move to leverage the success of the adjacent Gamuda Cove, where substantial investments have already been made, resulting in a thriving community. The land was acquired for RM248.7 million, with an estimated GDV of RM2.2 billion. The newly acquired land, strategically positioned south of Gamuda Cove, serves as the southern gateway to the township. Nestled between the lush Paya Indah Discovery Wetlands and the Elite Highway, this acquisition allows Gamuda Land to maximise its placemaking initiatives while capitalising on existing infrastructure investments. The expansion will also provide alternative access routes via Jalan Dengkil–Banting/Bangi, further enhancing the township's accessibility and appeal to a broader market. With most of the planned landed residences in Gamuda Cove already launched, this acquisition is a timely move to replenish Gamuda Cove's residential offerings. The new land parcel will introduce a fresh range of residential products tailored to meet the growing demand for quality landed homes set amidst a master-planned township, ensuring the continued success of Gamuda Cove as a premier residential and commercial hub in the southern corridor of Klang Valley. Gamuda Land CEO Chu Wai Lune said, 'This strategic land acquisition is a continuation of the success we have achieved with Gamuda Cove. Our proven track record in creating sustainable, thriving communities has been demonstrated by the strong uptake of our landed properties, with an average of over 90% sold since 2019. This expansion not only reinforces our commitment to delivering quality homes but also allows us to enhance the overall vibrancy of the township, ensuring it remains a sought-after destination for both residents and investors.' By the end of 2026, Gamuda Cove will have delivered over 5,000 homes, establishing a substantial resident population that provides a strong foundation to support and drive its commercial activities. Gamuda Land's next focus is to deliver commercial vibrancy through strategic partnerships. Additionally, the company secured partnerships with various organ-isations to enhance placemaking in Gamuda Cove, including the introduction of eco-tourism activities at the 90-acre Wetlands Arboretum and Paya Indah Discovery Wetlands. These initiatives will complement existing attractions such as SplashMania Waterpark and Discovery Park, further enriching the township's appeal. These new offerings will create a dynamic, family-friendly destination that encourages visitors and tourists to support businesses in Townsquare and the upcoming Cove Centrum retail hub. Gamuda Cove is also ready to welcome ASAI Gamuda Cove hotel in 2026, a lifestyle hotel developed in partnership with Dusit International Group. Accessibility to Gamuda Cove will be further complemented via the Cyberjaya toll-free interchange which is targeted to be ready in August 2025. This new interchange will significantly improve con-nectivity, reducing travel times to and from Cyberjaya to under 15 minutes. Gamuda Land's masterplanning approach integrates sustainability and community-centric design, ensuring a well-balanced township that harmonises with nature. Future developments in the newly acquired land will incorporate biophilic design elements and sustainable construction methods, reinforcing Gamuda Land's commitment to reducing carbon footprints and enhancing liveability. To date, Gamuda Land has delivered over 60,000 homes, showcasing its strong track record in township development. This latest acquisition aligns with the company's balanced approach to township development, ensuring long-term growth while complementing its Quick Turnaround Project strategy. It also supports Gamuda Land's broader plan to invest RM10.5 billion over the next five years, with a total GDV of RM26 billion, focusing on growth corridors in Vietnam, Malaysia, and the UK.
Barnama
23-05-2025
- General
- Barnama
Penang Reviewing Land Issue Threatening Future Of 4PAWS Shelter
GENERAL GEORGE TOWN, May 23 (Bernama) -- The Penang government is reviewing concerns raised by the Persatuan Haiwan Terbiar Malaysia (SAFM) over land issues that threaten the future of the Penang Animal Welfare Society (4PAWS) shelter in Teluk Bahang. State Local Government and Town and Country Planning Committee chairman H'ng Mooi Lye said that while no decision has been made yet, the land currently occupied by 4PAWS is under lease until 2030. The organisation is currently working to raise funds to purchase the site. 'In February and March, 4PAWS, through its manager Yan Naung Thet, also known as Murugan, approached the state government and the Penang Island City Council (MBPP) to seek assistance in extending his stay in Malaysia, allowing him to continue volunteering at the shelter. 'At that time, the founder of 4PAWS, Barbara Janssen, was unwell, and discussions centred solely on ensuring continuity of shelter operations, not on the lease issue,' he told Bernama. H'ng was responding to SAFM's call for the state government to intervene and help resolve the land dispute affecting the shelter, which houses around 700 dogs. Earlier, SAFM president R. Kalaivanan said that over 700 dogs at the 4PAWS shelter are at risk of losing their home as the landowner intends to sell the property. The organisation has been given until the end of this month to decide whether it can purchase the land at the price of RM2.2 million. SAFM has appealed to Chief Minister Chow Kon Yeow to urgently allocate permanent land to ensure the shelter's continued operation. H'ng added that 4PAWS is a non-governmental organisation providing sanctuary to stray dogs in Teluk Bahang. The shelter has also contributed to MBPP's efforts to manage the stray dog population by caring for animals that have been vaccinated, neutered, and made available for adoption.
![[UPDATED] Bung Moktar, wife fail in final bid to challenge corruption charges [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
22-05-2025
- Politics
- New Straits Times
[UPDATED] Bung Moktar, wife fail in final bid to challenge corruption charges [WATCH]
PUTRAJAYA: Datuk Seri Bung Moktar Radin and his wife, Datin Seri Zizie Izette Abd Samad, failed in their final bid to challenge the Court of Appeal's decision ordering them to enter their defence on corruption charges amounting to RM2.8 million. This is after a three-judge Court of Appeal panel led by Datuk Che Mohd Ruzima Ghazali unanimously dismissed the couple's leave application to review the decision today. The court said the appellants failed to meet the threshold of proving any exceptional circumstances or miscarriage of justice that would warrant a review of the earlier decision. On Nov 18 last year, the Court of Appeal ordered Bung Moktar and Zizie Izette to enter their defence on three corruption charges after allowing the prosecution's appeal against the couple's acquittal by the Kuala Lumpur High Court on Sept 7, 2023. On Sept 2, 2022, Sessions Court judge Rozina Ayob ruled that a prima facie case had been established against the accused at the close of the prosecution's case and ordered them to enter their defence on all three charges. On May 3, 2019, the Kinabatangan member of Parliament was charged with two counts of accepting bribes amounting to RM2.2 million and RM262,500 as an inducement to secure Felcra's approval to invest RM150 million in Public Mutual unit trusts. He was alleged to have accepted the bribes from Madhi, an investment agent with Public Mutual Bhd, through Zizie Izette at Public Bank's Taman Melawati branch here between 12.30pm and 5pm on June 12, 2015. Zizie Izette was charged with three counts of abetting her husband at the same location, date, and time.
Daily Express
22-05-2025
- Politics
- Daily Express
Bung, wife denied leave to review decision ordering them to enter defence
Published on: Thursday, May 22, 2025 Published on: Thu, May 22, 2025 By: V Anbalagan, FMT Text Size: Bung Moktar Radin and Zizie Izette Abdul Samad were ordered to enter their defence last November on charges of corruption and abetment over a RM150 million Felcra investment. PUTRAJAYA: The Court of Appeal has dismissed a leave application by Kinabatangan MP Bung Moktar Radin and his wife, Zizie Izette Abdul Samad, for a review of another bench's ruling ordering them to enter their defence on charges of corruption. A three-member bench chaired by Justice Che Ruzima Ghazali said the threshold for a review of the earlier appeals court decision had not been met. 'The threshold for review is high, and as the apex court (for subordinate courts), we are cautious in exercising such power as it goes against the principle of finality. 'Such power can only be exercised in exceptional cases. Applicants must show there was injustice and that they have no alternative remedy,' he said. He said the applicants in this case had alternative remedies, as the points raised could be argued during an appeal in the High Court if the sessions court convicts them. Also hearing the application were Justices Azizul Azmi Adnan and Ahmad Kamal Shahid. Advertisement Sessions court judge Rosli Ahmad had fixed a nine-day hearing from Aug 18. The couple was ordered to enter their defence last November on charges of corruption and abetment over a RM150 million Felcra investment. A three-member Court of Appeal bench had overturned Bung and Zizie's acquittal by the High Court. Justice Zaini Mazlan, who delivered the decision, said the revision application the couple had filed in the High Court was improper as it was akin to an appeal. The couple filed an application in March seeking leave for review under Rule 105 of the Rules of the Court of Appeal 1994, contending that the previous bench lacked the jurisdiction to hear the prosecution's appeal. Bung, the non-executive chairman of Felcra at the time, is charged with two counts of receiving bribes of RM2.2 million and RM262,500 as an inducement to obtain Felcra's approval to invest RM150 million in Public Mutual unit trusts. He is alleged to have accepted the bribes from Norhaili Madhi, a Public Mutual investment agent, through Zizie at Public Bank's Taman Melawati branch between 12.30pm and 5pm on June 12, 2015. He is also charged with receiving a bribe of RM337,500 from Norhaili under Zizie's name at the same location on June 19, 2015. Zizie faces three charges of abetting Bung in the commission of the alleged offences. On Sept 2, 2022, the sessions court ordered the couple to enter their defence after ruling that the prosecution had established a prima facie case against them. On Sept 7, 2023, the High Court, which heard a revision application brought under Section 323 of the Criminal Procedure Code, acquitted the duo. However, that decision was set aside on appeal. Lawyer M Athimulan appeared for Bung and K Kumaraendran for Zizie, while deputy public prosecutors Law Chin How and Fadhly Zamry represented the prosecution. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
19-05-2025
- Business
- New Straits Times
Gamuda set for margin uplift with RM2.2bil Gamuda Cove expansion
KUALA LUMPUR: Gamuda Bhd's expansion of the Gamuda Cove development is expected to yield higher pre-tax margins than currently projected for the existing township, said CIMB Securities Sdn Bhd. This is thanks to the substantial placemaking efforts and surrounding infrastructure already established in the area. Last Friday, Gamuda announced that it has acquired 136-hectare land at the southern tip of Gamuda Cove township for RM249 million that will be developed into a mixed-use project comprising landed residential homes and commercial components. The proposed development on the 74-year leasehold land has an estimated gross development value (GDV) of RM2.2 billion that is spread out over 12 years. At RM17 per square foot (psf), CIMB Securities said the acquisition cost for the new land bank represents a 42 per cent premium over the original cost for the original Gamuda Cove land parcel, which was purchased for RM12 psf back in 2014. "Nevertheless, we deem the valuation for Gamuda's latest land purchase to be fair, given that the proposed development's potential can be unlocked earlier by leveraging on the robust growth prospects of the existing Gamuda Cove township. "It expands Gamuda's strategic presence in the growing South Klang Valley conurbation and expected to generate greater footfall for the enlarged Gamuda Cove's commercial offerings. "This also improves connectivity between Gamuda Cove and nearby townships in Dengkil and Bandar Rimbayu," the firm said. CIMB Securities added that the completion of a direct and toll-free, 2km link to Cyberjaya would enhance accessibility to Gamuda Cove. For financial year 2025 (FY25), the firm said Gamuda Cove is projected to contribute RM810 million, or about 14 per cent of the group's new property sales target of RM6 billion. This would lift Gamuda's remaining GDV by about 4 per cent to RM64 billion. The firm maintained its "Buy" rating on Gamuda and target price of RM5.50 pending completion of the new land bank acquisition by the second quarter of this year.
