KUALA LUMPUR: Analysts are upbeat on the oil and gas (O&G) and construction sectors, as they are sitting on huge tender books going into 2014 due to contracts to be dished out by the government and Petroliam Nasional Bhd (Petronas).

KUALA LUMPUR: IJM Land Bhd is likely to surpass its sales target of RM2 billion for the current financial year ending March 31, 2014 (FY14) after securing sales of RM1.2 billion in the first six months.

KUALA LUMPUR: Property developer Glomac Bhd has sold an office building in Melbourne, Australia, for A$43.8 million (RM132.3 million). The purchaser is Singapore-based Hiap Hoe Ltd.

In a statement to Bursa Malaysia, Glomac said its associate VIP & Glomac Pte Ltd had last Thursday (Oct 3) concluded the sale of the commercial real estate in Lonsdale Street.

Real estate sector
Maintain neutral: On July 5, we downgraded the real estate sector to “neutral” from “overweight”. Since then right up to August, the Kuala Lumpur property index had fallen 9% versus the FBM KLCI’s 3% drop over the same period.

SEPANG: A Malindo Air Boeing 737-900ER yesterday successfully landed on Runway 3 of the world’s largest purpose-built terminal for low-cost carriers, klia2, signalling that the terminal might be ready for its official opening on May 2 next year.  

GEORGE TOWN: It is all systems go for Penang’s RM6.3 billion integrated road transport project. The preliminary agreement for feasibility studies and detailed design (FSDD) works, which was signed yesterday, marks the beginning of a “long journey” for the state and concessionaire Consortium Zenith BUCG Sdn Bhd.

KUALA LUMPUR: The outlook for the local retail industry is still positive although retailers are becoming more cautious in terms of expansion, said Datuk Nelson Kwok, president of the Malaysian Retailer-Chains Association (MRCA) in an interview with The Edge Financial Daily.

KUALA LUMPUR: Harn Len Corp Bhd’s proposed disposal of its 2,409.8ha of mature palm oil estates in Lahad Datu, Sabah has attracted interest to the stock, which jumped from below 80 sen last month to RM1.06 last Friday.

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) will embark on a US$35 billion (RM111.3 billion) liquid natural gas (LNG) project in Canada following the reversal of Ottawa’s decision to block the national oil company’s purchase of Canadian gas producer Progress Energy Resources.

KUALA LUMPUR: Pelaburan Mara Bhd (PMB) is partnering Al Rajhi Group’s AEP Investment Management Ltd (AEPim) to set up a US$200 million (RM636 million) private equity fund for investing into global real estates, with an eventual goal of listing the assets as a real estate investment trust (REIT) in a major exchange.