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Higher OPR won't strain borrowers' cash flow - ABM

KUALA LUMPUR: The Association of Banks in Malaysia (ABM) believes the overnight policy rate (OPR), which was raised 25 basis points to 2.25%, will continue to support economic growth in Malaysia and it is unlikely to be a strain on the borrowers' cash flow and repayment ability.

Space U8 to open in July 2010

PETALING JAYA: Space U8 in Bukit Jelutong, Shah Alam will open its doors to the public in July 2010. The 4-storey commercial project with a built-up of 700,000 sq ft is built on a hybrid concept of dual frontage, featuring shop offices on the outer frontage with an inner façade of retail outlets.

Settlers get 50% discount for Mardi land purchase

KLANG: The Agriculture and Agro-based Industry Ministry is offering a 50 per cent discount to 136 settlers of Kampung Sri Nadi, Johan Setia, here, to purchase land covering 48 hectares (118.6 acres) which they have been occupying for more than 40 years.

ABB Malaysia to gain from property market recovery

SEPANG: Power and automation technology group, ABB Malaysia Sdn Bhd, expects to achieve significant growth in line with the property market recovery this year.

ABB South Asia Region Manager and Country Manager Sim Boon Kiat said the property market is expected to improve with higher number of transactions involving new housing and more construction activities.

Heads of S P Setia and YTL Group among Forbes Asia Heroes of Philanthropy

PETALING JAYA: Malaysian property developers S P Setia Bhd president and chief executive Tan Sri Liew Kee Sin and YTL Group managing director Tan Sri Francis Yeoh have made the Forbes Asia Heroes of Philanthropy list.

Regional director of China Overseas Petroleum Corp Ruby Khong and media tycoon Ananda Krishnan made up the four Malaysians who were chosen.

Iskandar Investment invites tenders for Legoland Malaysia

KUALA LUMPUR: Iskandar Investment Group has invited tenders for the construction of the Legoland Malaysia Theme Park at Iskandar Malaysia, Johor.

Package two comprises primary infrastructure while package three is for the service and administration building, open car park and substation 33kV.

More OPR hikes ahead, says Kenanga Research

KUALA LUMPUR: Kenanga Investment Bank research believes the central bank's decision to raise the overnight policy rates by 25 bps to 2.25% (from 2.0%) could be a prelude to "further increases in the coming 12 months".

HKR eyes old buildings for redevelopment

HONG KONG: HKR International, the developer of Discovery Bay, is turning its attention to the redevelopment of old buildings as it cannot afford to bid for large allotments in government auctions.

The medium-sized developer, claiming it is being forced out by heavyweight players in land auctions, is exploring different opportunities to keep the company growing.

Malaysian astronaut wants to build aerospace research centre

KUALA LUMPUR: Malaysia's first astronaut wants to build an aerospace research centre in Negeri Sembilan. Datuk Dr Sheikh Muszaphar Shukor Sheikh Mustapha said he has found a 20-acre land in the state, not far from Sepang in Selangor, and is currently in the process of meeting potential investors.