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Wheelock takes property arm private for US$889 mil

HONG KONG: Wheelock and Co Ltd said late on Tuesday, April 27, it plans to take its property arm, Wheelock Properties Ltd, private for HK$6.9 billion (RM2.85 billion).

The company said in a joint statement that it plans to offer HK$13 per share, or 143.9% premium over the previous close, for all outstanding shares it did not already own in Wheelock Properties.

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Senate panel says Goldman inflated housing bubble

WASHINGTON: The conduct of Goldman Sachs Group Inc during the financial meltdown was assailed on Tuesday, April 27, by a US Senate panel, which accused the Wall Street powerhouse of inflating the housing bubble earlier this decade and then profiting from its collapse in 2007.

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Ho Hup files suit over Bukit Jalil deal

KUALA LUMPUR: Ho Hup Construction Company Bhd has filed a suit over the joint development agreement between Bukit Jalil Development Sdn Bhd (BJDSB) and Pioneer Haven Sdn Bhd.

Ho Hup said on Tuesday, April 27 the March 16 agreement related to the 60 acres of freehold land in Bukit Jalil, held by BJDSB as registered owner.

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Atrium REIT 1Q net income up 27%

KUALA LUMPUR: Atrium Real Estate Investment Trust's (Atrium REIT) net income after tax rose by an annual pace of  27.1% to RM2.63 million in the first quarter ended March, from RM2.07 million, as revenue grew amid lower  property expenses, besides finance and administrative costs.

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Selangor Sultan launches Shah Alam Convention Centre

SHAH ALAM: The Shah Alam Convention Centre (SACC) was officially launched by the Sultan of Selangor, Sultan Sharafuddin Idris Shah today, Tuesday April 27.

Set on a 2.5-acre land, SACC was built in 2006 and completed in June 2009 at a total development cost of RM66 million.

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Mutiara Goodyear to launch 4 projects worth RM1.6 billion

KUALA LUMPUR:  Property developer Mutiara Goodyear Development Bhd will launch four residential projects with a  total gross development value (GDV) of RM1.6 billion within this year.

The development will take up about 40 hectares of its 404-hectare landbank, said its executive chairman Hamidon  Abdullah today.

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