KUALA LUMPUR: The proposed acquisition of Sunrise Bhd by UEM Land Holdings Bhd will enable Sunrise to realise its value over a shorter period of time while allowing it to be part of a potential regional player, said Sunrise executive chairman Datuk Tong Kooi Ong.

KUALA LUMPUR: UEM Land Holdings Bhd, the master developer of Nusajaya in Johor is wooing investors from countries other than the Middle East.

Its managing director and chief executive Datuk Wan Abdullah Wan Ibrahim said it will send a team to the US next week to present its flagship Nusajaya project to an investor.

KUALA LUMPUR: Bank Negara Malaysia's (BNM) move to place a limit on the loan-to-value ratio (LVR) for people taking out third mortgages will not have a drastic impact on demand for mortgage loans, said research houses.

BNM yesterday imposed a maximum LVR of 70% for a third and subsequent housing financing facility taken by a borrower.

KOTA KINABALU: Come next year, civil servants can expect speedy approval for housing loan applications.

According to Sabah Treasury housing loan division secretary, Datuk Shuib Md Yusop, reduced approval time was possible through full implementation of the housing loan e-Form early next year.

Averting The Risk Of Mania

THE BUZZ

KUALA LUMPUR: UEM Land Bhd has proposed a conditional takeover for all of Sunrise Bhd shares at RM2.80 per offer share via a share swap or an alternative offer by the issuance of redeemable convertible preference shares.

UEM Land announced on Thursday, Nov 4 the merger would result in the enlarged group benefiting from the stronger combined asset base of over RM5 billion.

Acquire 2 pieces of land with RM1.2bn GDV

Highlights:

New projects in Jalan Ampang and Cyberjaya

News

KUALA LUMPUR: The 70% cap on home loans announced by Bank Negara Malaysia (BNM) for purchases of third homes effective Wednesday, Nov 3 is welcomed by housing developers, but a nationwide application of the measure would affect genuine house buyers, cautioned the Real Estate and Housing Developers Association (Rehda) president Datuk Michael Yam.

HONG KONG: New rules on floor area resulted in a lacklustre land auction yesterday as a luxury residential site in Kowloon Tong sold for HK$2.17 billion (RM861.14 billion) — at the bottom of the forecast range.