KUALA LUMPUR (Oct 1): Halex Holdings Bhd has proposed to acquire another 50% stake in property development outfit Kensington Development Sdn Bhd for RM32 million, bumping up its shareholdings in Kensington to 75%.

KUALA LUMPUR (Oct 1): Property developer Perduren (M) Bhd announced that its Deputy Chairman Datuk Lau Chin An has been redesignated at Chairman.

Lau is cousin of low-profile tycoon Tan Sri David Law Tien Seng — a major shareholder in Perduren through private vehicle TS Law Group Sdn Bhd, which hold 96.36 million shares or 71.42% of the developer.

KUALA LUMPUR (Oct 1): RAM Ratings said the overall asset quality of Malaysia Building Society Bhd (MBSB) is still weak, despite having written off a large proportion of its legacy property portfolio.

In a press release, the credit ratings agency said MBSB’s gross impaired financing ratio stood at 7.5% as at end-June 2014, while its credit-cost ratio for FY13 rose to 0.9%.

KUALA LUMPUR (Sept 30): With the upcoming Budget 2015 to be tabled in less than two weeks, Mah Sing Group Bhd’s Managing Director and Chief Executive Officer Tan Sri Leong Hoy Kum has asked the government to consider implementing certain measures to help first time home buyers.

PETALING JAYA (Sept 30): The Real Estate and Housing Developers’ Association Malaysia (Rehda) wants the government to forego the stamp duty on property, after the implementation of goods and services tax (GST). Rehda argued that the GST and stamp duty would tantamount to double taxation.

KUALA LUMPUR: Talam Transform Bhd (formerly Talam Corp Bhd), which was once debt-ridden when under the control of its founder, tycoon Tan Sri Chan Ah Chye, has pleaded to be given another chance, saying it has transformed and is on a much stronger footing now.

KUALA LUMPUR: 1MDB Real Estate Sdn Bhd (1MDB RE), the property arm of 1Malaysia Development Bhd (1MDB), has invited contractors to participate in the pre-qualification exercise for infrastructure and internal roadway works for the Tun Razak Exchange (TRX) development in Jalan Tun Razak.

KUALA LUMPUR: Aside from the continuous effort by Perbadanan PR1MA Malaysia to build affordable homes, the government is mulling over a new concept of public housing dubbed “Youth City” to supply more affordable houses to Malaysians.

KUALA LUMPUR: Marina One Residences, the first phase of M+S Pte Ltd’s integrated Marina One development at the centre of Singapore’s Marina Bay central business district (CBD), will be launched in early October.

SINGAPORE: Singapore property developer UOL Group Ltd has sold nearly 100 units of the total 120 units of Seventy Saint Patrick in Singapore. The 186-unit freehold condominium was launched last Saturday.