Hang Lung to focus on building in China, not on ‘sexy’ sprees

HONG KONG: Hang Lung Properties Ltd, the Hong Kong developer spending US$5.2 billion (RM17.62 billion) building offices and malls in China, will focus on land already bought and refrain from further “sexy” acquisitions, chairman Ronnie Chan said.

Commercial property prices to fall up to 55%

NEW YORK: Commercial real estate prices may fall as much as 55% from October 2007’s peak and the recovery will be slow amid rising unemployment and tepid consumer spending, Moody’s Investors Service said.

DNP Holdings subsidiary to acquire land for RM56 million

PETALING JAYA: Angkasa Indah Sdn Bhd has entered into a conditional Sale and Purchase Agreement with Perniagaan Sanjung Sdn Bhd for a piece of leasehold land.

The over nine-acre piece of land, situated in Pekan Penaga, Selangor, was sold at an agreed price of RM56 million, said the Bursa Malaysia announcement on Nov 23.

Mid Valley Megamall revalued

PETALING JAYA: KrisAssets Holdings Bhd has revalued Mid Valley Megamall, which carries a market value of RM1.77 billion as of Sept 30, 2009, according to a Bursa Malaysia announcement on Nov 23.

TA Global down 5% at close

KUALA LUMPUR: Shares of newly-listed TA Global Bhd closed at 47.5 sen on the stock's initial trading day on Nov 23, down 2.5 sen or 5% from its issue price of 50 sen.

Boustead 3Q net profit down 47.5% y-o-y

KUALA LUMPUR: Boustead Holdings Bhd's third quarter (3Q) net profit fell 47.5% year-on-year, dragged down by lower income from its plantation, heavy industries, real estate and hotel operations.

KL to host international conference on construction industry

KUALA LUMPUR: The Chartered Institute of Building (CIOB), together with the Master Builders Association Malaysia (MBAM) and four institutions of higher learning, are jointly organising the International Construction Conference 2009 (ICC 2009) at the Putra World Trade Centre here on Dec 2.

The institutions of higher learning are Universiti Technology Mara

Dr Teng: Lim playing ‘twist and blame game’ again

PENANG: Chief Minister Lim Guan Eng was again taken to task for playing a fact-twisting and blame-shifting game on the conversion of a 1.4ha plot adjacent to the Eastern and Oriental (E&O) Hotel in Lebuh Farquhar, here from leasehold to freehold.

AkzoNobel Colour Futures 2010 launched in Malaysia

KUALA LUMPUR: The Colour of the Year 2010 is Airy Marina Blue, according to AkzoNobel, the world’s largest paint and coating company and supplier of leading brands like Dulux. It described the colour as an optimistic hue that symbolises infinite horizons, new beginnings, renewed energy and a positive dynamic.