Saudi investment summit set to start despite boycott over slain journalist

RIYADH, Oct 23 — Saudi Arabia brushed off a Western boycott over the killing of journalist Jamal Khashoggi as it prepared to launch an investment conference today that has been overshadowed by the withdrawal of dozens of top business and…

Saudi to host ‘Davos in desert’ despite outcry over slain journalist

RIYADH, Oct 21 — Saudi Arabia will host a key investment summit on Tuesday, overshadowed by the killing of critic Jamal Khashoggi that has prompted a wave of policymakers and corporate giants to withdraw. Just ahead of the three-day Future…

Indonesia raids home of Lippo Group's deputy chairman in bribery probe

JAKARTA, Oct 18 — Indonesia's anti-graft agency said today it had raided 10 locations, including the home of the deputy chairman of the Lippo Group, as part of a bribery investigation linked to the conglomerate's US$21 billion (RM87.1 billion)…

LBS Bina, MD bag honours at global BrandLaureate awards

KUALA LUMPUR, Oct 17 — Developer LBS Bina Group Bhd (LBS) has won The BrandLaureate Special Edition World Award 2018’s International Property Development Award. The award recognises the group for best practices in property development and…

Kerjaya Prospek wins deal to build Marriott hotel

PETALING JAYA: Kerjaya Prospek Bhd has bagged a contract to construct the new Courtyard by Marriott Kuala Lumpur South Hotel, located off Old Klang Road, Kuala Lumpur.

The hotel, sited on 5.2-acre freehold commercial land, is expected to be soft launched in the first quarter of 2019 and slated for completion by 2022.

Today, Kerjaya Prospek inked a memorandum of cooperation (MoC) to signify its collaboration with Marriott International in operating and managing the new 276-room hotel.

The hotel is part of Kerjaya Prospek’s RM1.1 billion proposed mixed development project which also includes three towers of serviced apartment.

With the signing of the MoC, Marriott International will be given a 10-year contract period to operate Courtyard by Marriott, while Kerjaya Prospek is tasked to design and construct the proposed mixed development project.

Aside from the 10-year contract period, Marriott International will also be providing technical consultation on the development, design, as well as develop marketing and branding strategies for the hotel.

England’s northern ports look to prosper from Brexit

IMMINGHAM, UNITED KINGDOM: Brexit has brought hope to the windswept docks of the Humber River, a key goods gateway in northeast England where tens of millions of pounds are being invested to prepare for a potential increase in shipping. In Immingham, a gritty town of around 11,000 inhabitants in the shadow of the sprawling port and […]

Sarawak-Indonesia trade sees 87 pct rise in 2017

KUCHING: Sarawak and Indonesia recorded an increase of 87 per cent in its total trade value to US$606 million last year compared with US$323 million in 2016. Between Sarawak and West Kalimantan Indonesia specifically, a total of US$120 million of trade value had been recorded in 2017 with Indonesia exporting US$83 million and importing US$36 […]

Vertice inks corporate supply agreement for smart hotel chain biz

PETALING JAYA: Vertice Bhd's wholly owned subsidiary Vertice Construction Sdn Bhd (VCSB) and Smuzcity Bhd's wholly owned subsidiary Smuzhotel Management Sdn Bhd (SMSB) have entered into a corporate supply agreement for the smart hotel chain business following a memorandum of understanding signed in July.

Vertice told Bursa Malaysia that the agreement has an initial term of one year, effective from Oct 12, 2018. After the initial term, the agreement will be automatically renewed for additional successive one-year period.

The agreement governs the supply relationship between VCSB and SMSB in respect of construction materials, hotel furnishing products and/or related services. In addition, SMSB may source the products or services from VCSB under the terms and conditions of the agreement.

“The rationale of the agreement is to further cement the relationship with Smuzcity and pave the way for Vertice to participate further in the construction activities in the development of building of smart hotel chain based on the concept of 'unmanned' and 'cashless' using technologies such as virtual reality, artificial intelligence and mobile apps which will be applied into various hotel services applications,” Vertice said.

Smuzcity has intention to expand its portfolio of unstaffed hotels to 100 in the next few years.

Raintree Square set to spearhead retail, leisure scene at The Isthmus

KUCHING: Raintree Square is set to spearhead the retail and leisure scene at The Isthmus, as it has been envisioned to be the centrepiece and catalyst for leisure and lifestyle in the area. Yesterday’s handing-over of 18 units of Raintree Square to UCSI Peterson Properties Sdn Bhd (UCSI), a member of UCSI Group, marked a […]

IMF chief defends rate hikes after Trump slams ‘crazy’ Fed

NUSA DUA, Oct 11 — IMF chief Christine Lagarde today defended central bank rate hikes in a veiled rebuke to Donald Trump after the US president blamed “crazy” Fed policies for contributing to financial market turmoil. Lagarde spoke as a global…