KUALA LUMPUR: Johor-based property developer KSL Holdings Bhd has proposed a one-for-one bonus issue of up to 487.1 million shares, on the basis of one bonus share for every one existing KSL share held.

KUALA LUMPUR: Tropicana Corp Bhd is disposing a piece of freehold land measuring 9,968 sq m at Bandar Subang Jaya to Mediaraya Sdn Bhd (MSB) for a total cash consideration of RM37.55 million.

KUALA LUMPUR: Tan Sri Syed Mohd Yusof Syed Nasir, who is known to be a close associate and a trusted business partner of Sultan Sharafuddin Idris Shah of Selangor, will join Titijaya Land Bhd’s board of directors soon, according to sources.

KUALA LUMPUR (Oct 3): JF Apex Securities Research has downgraded Crest Builder Holdings Bhd (CBHB) to Hold (from Buy) with a lower target price of RM1.33 (from RM1.81) and said it foresees a challenging outlook for the company, as it may face a tough transition from contractor to developer.

KUALA LUMPUR (Oct 1): Halex Holdings Bhd has proposed to acquire another 50% stake in property development outfit Kensington Development Sdn Bhd for RM32 million, bumping up its shareholdings in Kensington to 75%.

KUALA LUMPUR (Oct 1): Property developer Perduren (M) Bhd announced that its Deputy Chairman Datuk Lau Chin An has been redesignated at Chairman.

Lau is cousin of low-profile tycoon Tan Sri David Law Tien Seng — a major shareholder in Perduren through private vehicle TS Law Group Sdn Bhd, which hold 96.36 million shares or 71.42% of the developer.

KUALA LUMPUR (Oct 1): RAM Ratings said the overall asset quality of Malaysia Building Society Bhd (MBSB) is still weak, despite having written off a large proportion of its legacy property portfolio.

In a press release, the credit ratings agency said MBSB’s gross impaired financing ratio stood at 7.5% as at end-June 2014, while its credit-cost ratio for FY13 rose to 0.9%.

KUALA LUMPUR (Sept 30): With the upcoming Budget 2015 to be tabled in less than two weeks, Mah Sing Group Bhd’s Managing Director and Chief Executive Officer Tan Sri Leong Hoy Kum has asked the government to consider implementing certain measures to help first time home buyers.

PETALING JAYA (Sept 30): The Real Estate and Housing Developers’ Association Malaysia (Rehda) wants the government to forego the stamp duty on property, after the implementation of goods and services tax (GST). Rehda argued that the GST and stamp duty would tantamount to double taxation.

KUALA LUMPUR: Talam Transform Bhd (formerly Talam Corp Bhd), which was once debt-ridden when under the control of its founder, tycoon Tan Sri Chan Ah Chye, has pleaded to be given another chance, saying it has transformed and is on a much stronger footing now.