CHHB served with RM23m suit for RPGT

KUALA LUMPUR: Country Heights Holdings Bhd (CHHB) has been slapped with a RM22.6 million bill by the government for real property gains tax (RPGT) for assessment years 1993, 1998 and 1999.

Education Ministry to terminate contracts for 45 projects

GUA MUSANG: The Education Ministry will terminate the contracts for 45 projects under the Ninth Malaysia Plan which have not been completed on time, its deputy minister Dr Mohd Puad Zarkashi said.

He said that of the projects, 21 were school buildings while the rest were quarters, hostels, canteens and various types of buildings.

WCT awarded contract in Bahrain

KUALA LUMPUR: WCT Bhd has been awarded a contract on Feb 8 by MAF Investment Bahrain BSC (C) to undertake fit out works for Bahrain City Centre Hotels via its WTC's 50%-owned company, Cebarco-WCT W.L.L.

Grade A office rents in HK to rise 15% in 2010, says Knight Frank

HONG KONG: Knight Frank, an international property consultancy said the average rent of Grade A offices in the island state will rise 15% this year. This is due in part to the rise in the number of foreign companies being set up in Hong Kong and this uptrend is expected to continue in 2010, which will further fuel demand for office space.

1,345 housing developers blacklisted, says Kong

DENGKIL: Housing and Local Councils Minister Datuk Seri Kong Cho Ha said 1,345 developers and more than 5,000 directors of such companies involved in problematic projects have been blacklisted.

Kong said it did not only involve housing projects that were abandoned but also involved housing projects that were not completed on schedule.

OSK Research positive on Hunza's earnings outlook

KUALA LUMPUR: Hunza Properties Bhd's mid-term earnings outlook is now seen to be more positive, supported by improving property sales and better progress billings, according to OSK Research.

RWS to gain from early casino licence approval

KUALA LUMPUR: The early casino licence approval for Resorts World at Sentosa (RWS), is a positive development for the company.

The market only expected the Singapore casino to open by March 2010 due to potential delays.

ICBC says to tighten lending to property developers

BEIJING: Industrial and Commercial Bank of China (ICBC) said it will halt lending to property developers that are hoarding land and may even call back some loans, in a bid to guard against credit risks.