KUALA LUMPUR: Mah Sing Group Bhd yesterday announced that the sale and purchase agreement (SPA) has gone unconditional for its purchase of 1,352 acres (547ha) freehold land near Pasir Gudang, Johor intended for a township project called Bandar Meridin East.

SYDNEY: Singapore-listed Frasers Centrepoint Ltd made a surprise A$2.6 billion (US$2.4 billion or RM7.8 billion) cash takeover bid for Australia’s Australand Property Group, trumping an offer from Australian firm Stockland Corp Ltd.

KUALA LUMPUR: Tambun Indah Land Bhd, a leading property developer in mainland Penang, is expanding its landbank with the proposed acquisition of a 84.6ha piece of land in Seberang Perai for RM150 million.

KUALA LUMPUR: Former head honcho of property giant S P Setia Bhd, Tan Sri Liew Kee Sin, should not be regarded as a substantial shareholder of Eco World Development Group Bhd (Eco World) in which his son is currently the largest shareholder with a 35.05% stake.

KUALA LUMPUR: UBS Securities Malaysia Sdn Bhd has maintained its “buy” calls on Mah Sing Group Bhd and S P Setia Bhd, while downgrading UEM Sunrise Bhd to “neutral” from “buy” after assuming coverage of the Malaysia property sector recently. 

KUALA LUMPUR: Sectors that will lead the earnings outperformance this year will be plantation, banking, construction and property, said analysts, following a “disappointing” first-quarter 2014 earnings season.

KUALA LUMPUR: Malaysia has lost the bid to build the Padma bridge in Bangladesh to a Chinese construction company, which is believed to have offered to construct it at a lower cost.

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has come out to say that its debt totalling RM37 billion at the financial year ended March 31, 2013, does not pose any significant risk to the sovereign rating and stability of Malaysia.

“As a limited liability company, 1MDB poses limited liability risks to the government as its shareholder.

DUBAI: Banks in the United Arab Emirates are increasing exposure to the country’s booming real estate industry betting that, five years after property values slumped and non-performing loans soared, this time it will be different.

KUALA LUMPUR: Menara Worldwide, a 25-storey office block in Kuala Lumpur owned by the Selangor State Development Corp (PKNS), has secured an occupancy rate of about 70%.

In a statement yesterday, PKNS said Menara Worldwide functions as a corporate tower, whose tenants include a number of companies such as international insurance group AIG, Lazada and Zalora.