From what the Star tells us, this is the proposed design for the new Yau Tet Shin Bazaar (see picture below).
This new building will be called ‘The Octagon’, and construction of this landmark will be undertaken by One Octagon Sdn Bhd (a private company, which was formed by the Perak Chinese Chamber of Commerce and Industry). ‘The Octagon’ is said to contain 4 floors for parking as well as 14 floors of serviced apartments. More can be read at the Star Online.