Day: June 9, 2021

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Price of RON97 up 2 sen per litre, RON95 and diesel unchanged

The retail price of RON97 petrol will increase by 2 sen per litre from RM2.63 per litre to RM2.65 per litre, while the prices of RON95 petrol and diesel remain unchanged at RM2.05 and RM2.15 per litre from tomorrow until June 16.

The Ministry of Finance in a statement today said the prices were fixed based on the weekly retail pricing of petroleum products using the Automatic Pricing Mechanism (APM) formula.

“To protect the consumers from global oil price increases, the government will maintain the ceiling price of RON95 at RM2.05 per litre and diesel at RM2.15 per litre, even though the market price APM for RON95 and diesel has increased beyond the current ceiling price.

“The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people,” it said.

Source: BERNAMA News Agency

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Sarawak receives 380,000 doses of Sinovac vaccine – Uggah

Sarawak is on the path to carry a more comprehensive COVID-19 immunisation programme with the arrival of 380,000 doses of Sinovac vaccine today, said Deputy Chief Minister Datuk Amar Douglas Uggah Embas.

He said the plane carrying the vaccine arrived at the Kuching International Airport at about 12.20 pm today.

Uggah said the state government had done extensive planning in the last few months to fully utilise the upsurge in supplies.

He said the plans include establishing more vaccination centre at government facilities, private clinics and private hospitals as well as setting up mobile teams to reach out into interior areas.

“On the part of the government facilities, we have identified 130 government clinics and hospitals where the total daily vaccination capacity is expected at 24,300 dosses.

“We are also going to set up public vaccination centres in 102 stadiums, community halls, offices and longhouses. The target is (to dispense) 42,500 doses daily,” he said in a statement today.

Meanwhile, on private sector engagement, Uggah said the government had roped in 42 private clinics of which 40 had already started giving the vaccinations with more are in the process of registration.

“For private hospitals, we will engage six more to add to the five which have started giving the vaccination. They will have a combined total capacity of between 5,000 to 7,000 doses per day,” he added.

Source: BERNAMA News Agency

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MCO: Postpone AGM except if conducted virtually – ROS

All registered organisations should postpone their annual general meeting (AGM), in line with the total lockdown enforced under the Movement Control Order (MCO) since June 1, said the Registrar of Societies (ROS).

However, in a statement, ROS said exemption is given if the AGM could be held virtually in accordance with the MCO standard operating procedure and if fulfilling the basic conditions of holding an AGM as contained in the respective organisations’ constitution.

ROS also stated that an AGM could be held during the Conditional Movement Control Order (CMCO) and Recovery Movement Control Order (RMCO) period with strict adherence to the SOP set by the National Security Council (MKN) and ROS.

“Hence, all registered organisations should make a written application to ROS to postpone their AGM with a proposed new date to hold it and the additional SOP once the MCO period ends.

“The organisations also need to submit their annual statements to ROS within 60 days after the holding of their AGM, in line with Section 14(1) of the Societies Act 1966 (Act 335),” it further said in the statement.

ROS stressed that registered organisations must hold their AGM to ensure good management of the organisations, in line with their constitution and the Societies Act.

Source: BERNAMA News Agency

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Negeri Sembilan govt assisting residents impacted by COVID-19 with RM6 allocation

The Negeri Sembilan government has allocated RM6 million to assist groups adversely affected by the COVID-19 pandemic.

Menteri Besar Datuk Seri Aminuddin Harun said RM5 million was allocated for aid such as food baskets for 50,000 recipients, RM500,000 in rental payment exemption for stalls and another RM500,000 for the Health Ministry to obtain oxygen supply for hospitals in the state.

“The food baskets will be distributed by the respective state assemblymen and their service centres while the rental payment exemption this June are for stalls under the jurisdiction of the City Council, Municipal Councils and District Councils,” he said in an online media conference after chairing the weekly State Executive Council meeting, here, today.

Aminuddin said the RM6 million was from the RM10 million allocation announced last week while the remaining RM4 million would be given out later during the total lockdown period.

He also said that 10 per cent of the monthly salary of the Menteri Besar and state executive councillors was being contributed to the state Disaster Trust Account from this July until December.

The allowance of 1,716 civil servants in Grade 29 and above under the state government would also be deducted accordingly to go into the same account for three months from July to September, he added.

Source: BERNAMA News Agency

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Madison Realty Capital Originates $278.5 Million Construction Loan for Three Multifamily Projects and Luxury Condominium in Austin, Texas

Portfolio Includes 734 multifamily apartments, 1,264 planned multifamily units, and 117 luxury condominium residences

NEW YORK, June 08, 2021 (GLOBE NEWSWIRE) — Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has provided a $278.5 million construction loan for a portfolio of four assets located in Austin, Texas to Reger Holdings, LLC, a New York-based real estate investment and development company led by CEO Gordon Reger, a third-generation member of the Reger/Mader family who founded the company.

The portfolio is comprised of two mixed-use multifamily properties and 317 acres of entitled land with plans to develop 1,264 multifamily residential units, known as the EastVillage, located along the Parmer Lane tech corridor in northeast Austin and a luxury condominium in downtown Austin known as The Linden Residences. Reger Holdings contributed significant cash equity for the construction.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “This transaction highlights Madison Realty Capital’s solutions-oriented approach and unique ability to serve as a single source financing provider to a highly reputable borrower. Austin is a rapidly growing, vibrant city experiencing exceptional economic growth but faces high barriers to entry. The Parmer Lane tech corridor is home to some of the most prominent Austin employers and some of the nation’s most innovative companies, including Tesla, Apple, Samsung, Oracle, Dell, Facebook, and 3M. However, the city is facing an undersupply of the high-quality housing options that employees in the Parmer Lane tech corridor demand. We look forward to working with Reger, a best-in-class developer with a strong balance sheet, to complete future phases of development in Austin and continue to identify attractive opportunities for our investors and partners throughout Texas and the Southwest.”

“Madison Realty Capital’s senior financing for the EastVillage and the Linden marks an exciting milestone for both projects,” said Gordon Reger.  “We are pleased to work with a single capital source that has the flexibility to finance these diverse projects.”

The mixed-use residences are comprised of two development sites across 29 acres within the over 400-acre master site planned for the EastVillage. The first EastVillage development will offer 312 luxury apartment units across six garden-style apartment buildings with top-tier amenities, including a fitness center, courtyard, dog grooming station and swimming pool. The second EastVillage development will consist of an additional 422 one-, two- and three-bedroom apartment units with state-of-the-art finishes, fitness center, game room, yoga studio, and 143,000 square feet of commercial space. Future phases of development for EastVillage involve 317 acres of land approved for 1,264 multifamily units, 240 hotel keys and over one million square feet of commercial space. The EastVillage is adjacent to Samsung’s Semiconductor chipmaking plant, one of Austin’s largest employers, which recently announced plans to expand with a $17 billion chipmaking facility.

Located at 313 West 17th Street in downtown Austin near the State Capital and the University of Texas at Austin, The Linden Residences is a 28-story luxury condominium project that will offer 117 one- to three-bedroom units, 5,196 square feet of ground floor retail and 251 parking spaces. The amenity rich units have been substantially sold to date.

Newmark Executive Managing Director David Douvadjian, Senior Managing Director, Brian Butler, and Director, David Douvadjian, Jr., served as advisors to Madison Realty Capital in the deal.

About Madison Realty Capital

Madison Realty Capital is a New York City based real estate private equity firm focused on debt and equity investment strategies with regional offices in key markets including Los Angeles and Dallas. Founded in 2004, MRC has closed on approximately $14 billion of transactions in the multifamily, retail, office, industrial and hotel sectors nationwide. The firm manages investments in the United States on behalf of a global investor base. MRC is a fully integrated firm with over 60 employees across all real estate investment, development, and property management disciplines. Among other industry recognitions, MRC has been named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as one of the industry’s top construction lenders. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

Attachments

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com