Five Newsbytes to Start The Day – 31 May 2019

Mahathir says Malaysia will use Huawei ‘as much as possible’
Malaysia will continue using Huawei products “as much as possible,” bucking a global trend prompted by security concerns and a US ban on the Chinese firm. Prime Minister Tun Dr Mahathir Mohamad, speaking at a conference in Tokyo, acknowledged the security concerns but said they would not deter Malaysia. Mahathir said Huawei had access to research “far bigger than the whole of Malaysia’s research equivalent.” “So we try to make use of their technology as much as possible,” he added. His comment came after a wave of controversy over the Chinese telecommunications firm, which has been hit by allegations of espionage and faces a US ban. A number of countries have blocked Huawei from working on their mobile networks and companies have stepped back from the firm after the US ban, citing legal requirements. (NST Online)

MPKK to seize property of errant tax payers
The Kuala Kangsar Municipal Council (MPKK) will take stern actions including seizing the property of those who fail to pay their assessment tax this year. MPKK president Zulqarnain Mohamad said such action was necessary to ensure property owners paid their assessment tax within the prescribed period as the total arrears had reached RM2 million. A special task force was set to carry out enforcement and property owners could negotiate to pay in installments if they have financial problems. The tax collections earned would be used to carry out development in the area and Sungai Siput. (The Sun Daily)

Sunway Property sees strong take-up for first Sunway Avila tower
Sunway Property recorded a take-up rate of 80% for the first tower at its RM590 million integrated development Sunway Avila, the developer’s maiden foray into Wangsa Maju, Kuala Lumpur. The project is a good choice for those working in Kuala Lumpur City Centre that commute via the light rail transit (LRT), given its close proximity to the Sri Rampai LRT station. The development is located in close proximity to five retail centres, besides being near education institutions and healthcare facilities. The project, which will comprise 810 residential units with 30 retail shops, is targeted for completion in 2023. (The Edge)

Kerjaya Prospek targets RM1.2bil orderbook for 2019
Kerjaya Prospek Group Bhd is expected to secure a 20%t increase in orderbook to RM1.2 billion for the year ending December 31, 2019 (FY19). Group executive chairman Datuk Tee Eng Ho said the company was able to built a good reputation for the construction sector mainly for the high rise and high-end property development and infrastructure projects. The company’s outstanding orderbook stood at RM3.4 billion, which will give earnings visibility in the next three years. He said it was also tendering about RM1.6 billion jobs this year in light of the recovery of the infrastructure and property markets in Malaysia. Kerjaya Prospek would undertake two new properties projects with a combined GDV of about RM700 million this year. (NST Online)

Jho Low’s two New York condos to go on sale in US 1MDB forfeiture lawsuit
Two high-end condominiums in New York City allegedly bought with money stolen from 1Malaysia Development Berhad (1MDB) by Penang-born fugitive Low Taek Jho are now for sale, according to Bloomberg. It was reported that both lawyers for the Malaysian fugitive businessman and the US government had asked a federal court in Los Angeles to let them list the two properties for sale as part of the US forfeiture lawsuits over 1MDB. The two New York properties were reported to be a Time Warner penthouse at 80 Columbus Circle (US$31 million) and another condo unit on 118 Greene Street (US$14 million). Bloomberg said the proceeds from the sale of the two condo units have not been settled as Low continues to fight the forfeiture lawsuits. Low’s super-yacht The Equanimity was sold to Genting Malaysia Berhad on April 3 for US$126 million, and has since been taken to Singapore and renamed The Tranquility. Jho Low is expected to be detained soon, according to Inspector-General of Police Datuk Seri Abdul Hamid Bador who said that the police have new leads on his whereabouts. (Malay Mail)

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