KUALA LUMPUR: Sanbumi Holding Bhd — via its wholly-owned subsidiary Sanbumi Sawmill Sdn Bhd — sold 39.98 acres of land in Kalabakan in the district of Tawau, along with the sawmill plant, equipment and machines to Dyna Istimewa Sdn Bhd for RM6.5 million, the group announced on Friday, Dec 3.

KUALA LUMPUR: Golden Frontier Bhd — via its wholly-owned subsidiary Golden Frontier Paper Industry Sdn Bhd — has acquired four pieces of freehold plantation land in Daerah Seberang Perai Selatan, Penang totaling 45.06 acres for RM10.79 million, the group announced on Friday, Dec 3.

KUALA LUMPUR: Box-Pak (Vietnam) — a wholly-owned subsidiary of Box-Pak (Malaysia), which in turn is a wholly-owned subsidiary of Kian Joo Can Factory Bhd (KJCF) — has acquired a 6-acre piece of leasehold land in VSIP Bac Ninh, Bac Ninh Provience, Vietnam for US$1.62 million (RM5.1 million) on Thursday, Dec 2, the group announced on Friday.

HONG KONG: China and Hong Kong need to implement more measures to rein in the threat of property bubbles forming in certain sectors of their markets, the International Monetary Fund (IMF) said in a working paper citing the views of economists.

MELAKA: Melaka already has a policy to allow land owners to renew their 99-year leasehold tenure much earlier without having to wait until the lease is expiring, Chief Minister Datuk Seri Mohd Ali Rustam said.

He said the policy, introduced seven years ago, enabled owners to extend their leasehold tenure although the remaining lease was still long.

KUALA LUMPUR: Mah Sing Bhd was voted the top company for Malaysia in the Asiamoney 2010 Corporate Governance Poll, the online finance information service provider stated in a press release on Friday, Dec 3.

The poll saw 146 senior executives and research analysts from 113 firms voted in this year's survey.

KUALA LUMPUR: Malaysians who have locked in their investments in central London’s prime residential properties recently can expect strong gains on the back of a recovery in the pound sterling over the next few years, said Savills director of international sales James Talbot.“I think the pound will recover faster than the dollar, which means that if the ringgit goes up to 5.80 against the pound,

Above expectation

Highlights:

IRVINE (California): About 25% of all homes transacted in the third quarter (3Q) are foreclosure homes, with prices of these properties which are at various stages of foreclosure 32% lower than average properties, according to online foreclosure properties marketplace RealtyTrac.

KUALA LUMPUR: The recent RM4.5 billion offer by Sunway Sdn Bhd for the assets and liabilities of Sunway City Bhd (SunCity) and Sunway Holdings Bhd has no immediate rating impact on the ratings and outlook of the two entities' debt issues, RAM Ratings says.