KUALA LUMPUR: Tradewinds Corp Bhd (TCB) has terminated an over seven-year-old joint venture agreement (JVA) with Oxbridge Height Sdn Bhd in relation to the development of about 704 acres of the former’s land in Tebrau, Johor after the latter had defaulted on its private debt securities (PDS) and non-settlement of a guaranteed payment.

KUALA LUMPUR: UEM Builders Bhd and Ministry of Finance-owned (MoF) Jambatan Kedua Sdn Bhd (JKSB) finally signed a RM1.55 billion agreement for the construction of part of the second Penang Bridge, officially ending a two-year disagreement on certain matters in relation to the project.

Consistent paid out

Highlights:

HONG KONG: Bank of China has tightened lending to buyers of second homes on the mainland, in line with the  central government's move to curb property speculation.

In new rules on property lending published on its website last Friday, the bank says buyers of second homes are  required to pay a deposit of at least 50%, up from 40%.

PETALING JAYA: S P Setia Bhd has announced the incorporation of Setia Australia Ltd Monday April 26. Setia Australia is a wholly owned subsidiary of Setia International Ltd  which in turn is a wholly-owned subsidiary of S P Setia Bhd.

KUALA LUMPUR: Property developer Malaysia Pacific Corporation Bhd (MPCorp) plans to start construction work of the Asia Pacific Trade and Expo City (APTEC) in Iskandar Malaysia, Johor this year.

HONG KONG: In the latest salvo aimed at the mainland property market, the country is getting ready to launch a real estate investment tool that will give investors an alternative to bricks and mortar, and move to cool a market where prices have risen at the fastest pace in five years.

PUTRAJAYA: The federal government has agreed to set up a special fund to implement all development projects in Sabah and Sarawak.