PETALING JAYA: The Kota Damansara forest, covering 321.7ha, has been re-gazetted as a permanent forest reserve from Feb 18 by the Selangor state government after eight years of advocacy by the Friends of Kota Damansara (FOKD).

Originally known as the Sungai Buloh Forest Reserve, the forest was first gazetted in 1898 with an area of 6,590ha.

KUALA LUMPUR: Faber Group Bhd, a subsidiary of UEM Group Bhd, plans to launch some phases of its ongoing developments this year, said managing director Adnan Mohammad (pictured).

SHAH ALAM: Property developer SP Setia Bhd has increased its sales target to RM2 billion for FY10 from RM1.65 billion previously on the back of strong sales of RM608 million for the first quarter of FY10, said president and CEO Tan Sri Liew Kee Sin.

HONG KONG: Policy measures introduced last week to raise the cost of buying homes in Hong Kong's booming luxury market have so far had little impact on buying demand, agents say.

SHAH ALAM: Sime Darby Property Bhd is awaiting the approval from the state and federal governments on its plans for its proposed 10,861-acre (4,395ha) Selangor Vision City (SVC) development, said its managing director Tunku Datuk Putra Badlishah Tunku Annuar.

IPOH: Perak Public Accounts Committee chairman Datuk Seri Raja Ahmad Zainuddin Raja Omar on March 2 called on government agencies in the state to make full use of their idle land to prevent them from being occupied by squatters.

He said the agencies could get advice and information from the district and land office on how to utilise the land.

LONDON: British households will be able to take out soft loans to improve the efficiency of their homes from 2013, repaying these from energy savings made, the government said on March 2.

The "Warner homes, greener homes" initiative aimed to cut carbon emissions from homes by 29% by 2020.

Part of the exhibits at MIFF2010

KUALA LUMPUR:  Furniture makers have been urged to develop environment-friendly products in line with rising consumer demand for such products.

KUALA LUMPUR: Property developer Naim Holdings Bhd acquired a 15% equity interest in its sibling Plus Viable Sdn Bhd for RM585,000.

In a filing to Bursa Malaysia on March 2, the developer said the acquisition was done by its wholly owned sub-subsidiary NCSB Engineering Sdn Bhd from construction contractor Chiew Kee Engineering Sdn Bhd on March 1.

The Malaysian Accounting Standards Board (MASB) has decided to adopt what is called IFRIC 15 — agreements for the construction of real estate.

Under the new rules, which will become applicable for the accounting period commencing July 1, property developers are to recognise revenue based on the completion method instead of the percentage-of-completion method in current practice.