KUALA LUMPUR (Dec 30): Property developer LBS Bina Group Bhd has received the first tranche of deferred cash payments amounting to HK$250 million (RM112.9 million) for the disposal of its stake in Lamdeal Consolidated Development Ltd (Lamdeal Development) and Lamdeal Golf & Country Club Ltd (Lamdeal Golf).

THE Penang secondary property market continues to perform well as developers hold back launches due to new and unbudgeted infrastructure charges, says Raine & Horne International Zaki + Partners Sdn Bhd director Michael Geh in presenting the Penang Housing Property Monitor for 3Q2014.

KUALA LUMPUR (Dec 29): Selangor Properties Bhd (SPB) posted a net profit of RM30.7 million in its fourth quarter ended Oct 31, 2014, down 10% from RM34.3 million in the same quarter a year earlier.

The fall in net profit translated to lower earnings per share of 8.92 sen for the quarter, compared to 9.99 sen in the year before.

KUALA LUMPUR (Dec 29): Tower REIT has entered into a sale and purchase agreement (SPA) with Goldstone Kuala Lumpur Sdn Bhd to divest 19 office parcels and 190 car park bays within Menara ING for RM132.34 million cash, a filing to Bursa Malaysia revealed this evening.
 

KUALA LUMPUR (Dec 24): Two unauthorised remittance issuers were charged in court today over two separate counts of cheating Indonesians to make remittances.  

Faizal Mohamed Hanifa, 34 and Asrul bin Zamri, 28 were charged for cheating two separate Indonesians of RM 8,600 when they were not licensed by Bank Negara Malaysia (BNM) to be remitters. 

KUALA LUMPUR: YFG Bhd’s order book target of RM500 million has suffered a huge setback after the recent loss of a RM256 million contract in Kota Kinabalu, Sabah.

It had initially met the target when it was awarded the Jesselton Residences Waterfront project in 2013.

However, Palikota Sdn Bhd terminated the contract last month, slashing YFG’s order book to RM200 million.

KUALA LUMPUR (Dec 19): Local real estate investment trusts (REIT) edged up in tandem with the broader  market in the morning session on Friday with 10 out of the 16 REIT stocks making gains between 1-3% on the back of improved earnings outlook in 2015 for REIT.

The YTL Hospitality REIT, the top gainer among the REIT stocks, went up 2.08% to 98 sen from 96 sen, with 59,100 units done.

KUALA LUMPUR: Setiatiwi Group, is launching the final phase of its 16 acre (6.5ha) Taman Adenium project located in Bukit Beruntung, Selangor tomorrow. The group is an associate company of Sunshine City Development Sdn Bhd.

KUALA LUMPUR: Tan & Tan Developments Bhd has launched the 7.88 acre (3.2ha) Park Manor in its Sierramas residential enclave in Sungai Buloh, Selangor on Dec 15.

KUALA LUMPUR: Fairmont Hotels & Resorts announced last Friday that 249 units of its Fairmont Marina Residences in Abu Dhabi, United Arab Emirates (UAE), are now being offered for sale exclusively to UAE nationals.

Fairmont is owned by FRHI Hotels & Resorts (FRHI), a global hotel company with over 110 hotels under the Fairmont, Raffles and Swissôtel brands.