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Naim Holdings appoints new EDs

KUALA LUMPUR: Main board-listed Naim Holdings Bhd appointed new executive directors (ED) to lead the company on Feb 2 after one of its EDs and another deputy managing director (MD) resigned, according to a statement to Bursa Malaysia.

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Morgan Stanley to sell China property to Singapore's Alpha

HONG KONG/SHANGHAI: The property investment arm of Morgan Stanley is in final talks to sell an apartment complex in China to a unit of Singapore's Keppel Land, sources close to the deal said on Feb 2.

The overall value of the property is estimated at about 900 million yuan (RM444.32 million).

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China tells banks to check loans being used properly

SHANGHAI: China's banking regulator has ordered banks to conduct checks to see whether any of their loans have illegally gone into the stock or property markets, a banking source told Reuters on Monday Feb 1, the latest move in a clampdown on excessive bank lending and rising asset prices.

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HK mortgage loans in negative equity fall in Q4 2009

HONG KONG: The estimated number of residential mortgage loans (RMLs) in negative equity in Hong Kong fell 44 percent to 466 cases at the end of December from 835 cases at the end of September as property prices rose, data from the Hong Kong Monetary Authority showed.

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BNM may hike OPR in March

KUALA LUMPUR: In its latest monetary policy statement on Jan 26, Bank Negara Malaysia (BNM) kept the Overnight Policy Rate (OPR) unchanged at 2%, as widely expected, and reiterated the “appropriateness” of the current monetary policy stance against the backdrop of re-emerging inflation, Standard Chartered Global Research said on Feb 1.

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RM12 mil agro-resort at Laguna Gong Batu

SETIU, (Terengganu): Peladang Setiu Agro Resort (PSAR) Sdn Bhd, a wholly owned subsidiary of Pertubuhan Peladang Setiu will invest RM12 million to develop six resorts at Laguna Gong Batu in Setiu this year.

PSAR managing director Mohamad Saipuddin Abas said the company had applied to the state government for a 12 hectare site for the resort project which includes aquaculture farms.

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Yayasan Melaka pays Yayasan Basmi Kemiskinan Selangor's quit rent

SHAH ALAM: Yayasan Melaka has helped Yayasan Basmi Kemiskinan (YBK) Selangor to settle its quit rent arrears amounting to RM5.7 million to the Selangor government on Monday Feb 1 afternoon, YBK Selangor chairman Datuk Zainal Abidin Sakom said.

The payment was made online to the account of the state treasury by Yayasan Melaka at 3pm, he told Bernama when contacted here.  

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