BEIJING: China has ordered 78 state companies whose core business is not property to submit plans to divest from the sector within 15 working days, state media reported on March 23.

The order, from the State-owned Assets Supervision and Administration Commission (SASAC), is part of a broader government campaign to rein in fast-rising housing and land prices.

Stunning views form The Bridge Bar

PETALING JAYA: Kuala Lumpur’s latest boutique business hotel, The G City Club, will open its doors to local and international business travellers on March 28, 2010.

Reiterate NEUTRAL

Maintain Target Price (TP): RM1.88 (ex-RM1.25)

GEORGE TOWN: The last of the four developers who were asked to scale down their projects to meet Unesco requirements has agreed in principle to reduce the height of its proposed project.

Sources told The Edge Financial Daily that Boustead Holdings Bhd had agreed to comply with the 18m/5-storey height ruling for its Royale Bintang Hotel in the core heritage zone of Weld Quay.

KUALA LUMPUR: Talam Corp Bhd, through its subsidiary Galian Juta Sdn Bhd, has agreed to sell two pieces of land measuring 41.69 acres and 8.1 acres to Malaysian Allied Health Sciences Academy Sdn Bhd (MAHSA) for RM35.41 million.

KUALA LUMPUR: Ho Hup Construction Company Bhd’s new board has found “no information available” on the basis and justification of the shared ratio for the joint-development agreement (JDA) announced last week between the company and Malton Bhd, nor for Ho Hup’s reported minimum entitlement of RM265 million.

PETALING JAYA: Berjaya Land Bhd recorded lower revenue of RM993.9 million in its third quarter ended Jan 31, 2010 (3Q2010), compared with RM1.16 billion in the previous corresponding quarter. This was mainly due to lower revenue reported by the Number Forecast Operator (NFO) business operated by Berjaya Sports Toto Bhd and the hotels and resorts division.

PETALING JAYA: Sunway City Bhd has appointed Ho Hon Sang (pictured) as its new Managing Director, Property Development, Malaysia, effective March 19, 2010.

KUALA LUMPUR: The issue price of UEM Land Bhd's rights shares has been fixed at 80 sen per rights share, which is 44.1% below its five-day volume-weighted average market price up to last Friday, March 19, of RM1.43

It said on Monday, March 22 the issue price was also 34.4% below the theoretical ex-rights price of UEM Land shares of RM1.22.

KUALA LUMPUR: Sepang Gold Coast Sdn Bhd (SGC) is optimistic of generating a revenue of between RM20 million and RM30 million from the operation of its Golden Palm Tree Resort.

The RM300 million resort, which will open for business in Bagan Lalang, Sepang, end-June, is 80% sold to European and Middle East buyers.