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TA Global forms JV on A$600m Sydney residential project

KUALA LUMPUR: TA Global Bhd is partnering with Sydney-based property funds management and development company Charter Hall Group to develop Little Bay, a A$600 million (RM1.84 billion) residential project in Sydney, New South Wales in Australia.

MRCB (AmResearch) re-initiating Hold; fair value RM2.13

Investment Highlights

• We are re-initiating coverage on Malaysian Resources Corp Bhd (MRCB) with a HOLD rating and fair value of RM2.13/share based on 15% discount to our sum-of-parts valuation (SOP) of RM2.50/share.

Developers eyeing Wesley Methodist school land in George Town

GEORGE TOWN: Another prime piece of land in George Town, located in Pykett Avenue, belonging to the Wesley Methodist Church is being keenly pursued by property developers.

The four-acre plot now houses the SK (Sekolah Kebangsaan) Pykett Methodist, which has been in existence since 1955.

US House panel sets hearing on foreclosure problems

WASHINGTON: A US House of Representatives subcommittee on housing issues will hold a hearing on home foreclosures when lawmakers return from recess after the November elections, the panel announced on Monday, Oct 18.

Home Depot looks for US growth

ATLANTA: Home Depot Inc thinks home is the best place to improve sales in the near-term, the retailer's chief executive said on Monday, Oct 18.

Green township framework to be ready by year end

KUALA LUMPUR: A framework on developing green townships will be ready by end of the year, Energy, Green Technology and Water Ministry's senior undersecretary for green technology sector Mohd Rosli Abdullah said.

Mecca mega projects to be completed by 2012

MECCA: The Mayor of Mecca, Dr Osama Al-Bar, who is also a member of the Central Haj Committee and Chairman and Chief Excecutive of the Mecca Development Authority, has promised that a number of large projects currently underway in the city will be completed by 2012.

Mitraland to launch apartments at The Cascades @ Kota Damansara by end 2010

PETALING JAYA: Mitraland Group plans to launch the second phase of The Cascades @ Kota Damansara in Petaling Jaya, Selangor within the next two months.

The developer said that indicative prices for the second phase, which comprises apartment units, are between RM550 psf and RM600 psf.

Gerakan urges Kedah govt to stop increase of Bumiputera housing quota

KUALA LUMPUR: Kedah Gerakan Youth urged the state government to fulfill its pledge to stop the increase of the Bumiputra quota for housing development.

In a media statement on Monday, Oct 18, the youth division said the state government made its pledge in Decemeber last year to stop the increase of the Bumiputra quota from 30% to 50% for housing developments.