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.

KUALA LUMPUR: Mah Sing Group Bhd has increased the gross development value (GDV) of its 428-acre (173.2ha)   Southville City@KL South project in Bangi, Selangor by 62% to RM8.3 billion from the initial RM5.13 billion after it secured the approval of the authorities for the township’s master plan, which now includes a 2km stretch of commercial development fronti

KUALA LUMPUR: Kwasa Land Sdn Bhd, the master developer for the Kwasa Damansara township sited on 2,330 acres (942.92ha) of prime land stretching from Sungai Buloh to Subang, has received six timely submissions for its inaugural development of ‘Project MX-1’.

SHAH ALAM: The Selangor government has advised private landowners to ensure that their land is not encroached on, otherwise they may lose the property.  Menteri Besar Tan Sri Abdul Khalid Ibrahim said district offices had been given the green light to issue notices of seizure if private land was found to be encroached by sand thieves.  

KUALA LUMPUR: WCT Holdings Bhd’s property investment and management division is expected to get at least a RM10 million boost in net profit per year from the opening of Gateway@klia2, the retail section of the new low-cost carrier terminal in Sepang.

KUALA LUMPUR: Mah Sing Group Bhd recorded a 20.9% rise in net profit to RM84.03 million in the first quarter ended March 31 of financial year 2014 (1QFY14) from RM69.47 million a year ago, in line with market expectations. Revenue grew 51.8% to RM642.2 million from RM423.1 million in 1QFY13.

Mah Sing chalked up RM770 million in new property sales as at March 31 this year.