Latest news with #assetdisposal
Bloomberg
17 hours ago
- Business
- Bloomberg
Stanhope, Cheyne Near Deal to Buy LandSec's Prime London Project
Land Securities Group Plc is in discussions to sell Red Lion Court, a prime London commercial development, as part of its plan to dispose of £2 billion ($2.7 billion) worth of office assets and redeploy those funds into retail and housing instead. Alternative asset manager Cheyne Capital Management and developer Stanhope are expected to team up to buy the Southwark property overlooking the City of London, people familiar with the matter said, asking not to be identified discussing non-public information.
Malay Mail
31-05-2025
- Business
- Malay Mail
JPJ clamps down on officers failing to declare asset disposals, warns disciplinary action
KANGAR, May 31 — The Road Transport Department (JPJ) will take action against officers who fail to declare disposal of assets in its human resource management information system (HRMIS), if non-compliance is confirmed. Its director-general Datuk Aedy Fadly Ramli said the issue of non-compliance will be brought before the disciplinary committee once it is proven that such an element exists, based on findings from the Enforcement Agency Integrity Commission's (EAIC) investigation. 'We will review the investigation report and take the necessary action. If our review confirms non-compliance with civil service regulations, we will refer the matter to the disciplinary committee,' he told a press conference after launching the MyLesen B2 programme here yesterday. Earlier yesterday, the media reported that the EAIC had found JPJ officers to have failed to update and declare asset disposals in the HRMIS. The report also stated that EAIC had received a complaint against the Kuala Lumpur JPJ involving several vehicle registration numbers. On the MyLesen B2 programme in Perlis, Aedy Fadly said a total of 800 individuals from the B40 group successfully obtained motorcycle licences for free through the programme, with more than 80 per cent being school students. 'We received 1,200 applications in Perlis and 800 of them have passed the test,' he said. — Bernama
Malay Mail
30-05-2025
- General
- Malay Mail
EAIC finds some JPJ officers failed to declare disposed assets, recommends disciplinary action
PUTRAJAYA, May 30 — An investigation by the Enforcement Agency Integrity Commission (EAIC) found that there are Road Transport Department (JPJ) officers who failed to update and declare the disposal of assets in the Human Resource Management Information System (HRMIS). In a statement today, EAIC said the investigation was conducted under section 27(4) of the EAIC Act 2009 [Act 700] following a complaint against the Kuala Lumpur Federal Territory Road Transport Department (JPJ KL) involving several vehicle registration numbers. 'Following the investigation, it was found that several vehicles in the names of JPJ KL officers have not yet been declared obsolete through the HRMIS system, even though the vehicles have not been in their possession for a long time. 'This violates regulation 10(2) of the Public Servants (Conduct and Discipline) Regulations 1993 (P.U. (A) 395/1993),' it said. In this regard, EAIC decided to refer the results of the investigation to the JPJ Disciplinary Board with the recommendation that a warning letter be issued to the JPJ officers involved. — Bernama
BBC News
28-05-2025
- Business
- BBC News
Peterborough City Council sells £50m worth of assets to pay debts
A football stadium, shopping centre and farmland were among a council's most lucrative sales as it tried to repay its City Council made £50m from asset sales over the past decade, according to a Freedom of Information (FOI) authority has more than £500m of debt, which it said was the result of funding new roads, schools and regeneration sold Weston Homes Stadium back to Peterborough United in 2021 and sold land at the Hereward Cross Shopping Centre in 2023. The stadium and surrounding land was bought by the authority for £8.4m in 2010. The council sold it back to Posh for just over £ club said it was given a £1.25m discount in recognition of its "economic and social benefit to the city" and £2.8m investment into the Allia Business Centre which formed part of the leasehold at Hereward Cross, which housed Poundland and the Sir Henry Royce pub, was sold for a "mutually acceptable price", the council said. The council's most recent documents said it faced a £23m budget gap for said asset disposals cannot be used to fund day-to-day services and were instead used to "repay its debt balances, therefore reducing the cost of borrowing (interest)".It said the cost of servicing external borrowing was about £38m per to the Local Democracy Reporting Service, the other assets which fetched the best prices were: Newborough Rural EstateAvenue Farm in NewboroughTurves Farm in Newborough Land at NorthminsterEardley Grange Farm and Hill FarmLand at Bishops RoadFletton Mills (lots seven and eight) at Fletton QuaysWhitworth Mill The council's budget document said its "debt levels compare high to other unitary authorities, whilst at the same time our reserves levels compare low".It said it could be left with as little as £5m at the end of 2024/25 in its general reserve fund and just more than £14m overall in its savings. Follow Peterborough news on BBC Sounds, Facebook, Instagram and X.
