KUALA LUMPUR: Tambun Indah Land Bhd, a leading property developer in mainland Penang, is expanding its landbank with the proposed acquisition of a 84.6ha piece of land in Seberang Perai for RM150 million.

KUALA LUMPUR: Former head honcho of property giant S P Setia Bhd, Tan Sri Liew Kee Sin, should not be regarded as a substantial shareholder of Eco World Development Group Bhd (Eco World) in which his son is currently the largest shareholder with a 35.05% stake.

KUALA LUMPUR: UBS Securities Malaysia Sdn Bhd has maintained its “buy” calls on Mah Sing Group Bhd and S P Setia Bhd, while downgrading UEM Sunrise Bhd to “neutral” from “buy” after assuming coverage of the Malaysia property sector recently. 

KUALA LUMPUR: Sectors that will lead the earnings outperformance this year will be plantation, banking, construction and property, said analysts, following a “disappointing” first-quarter 2014 earnings season.

KUALA LUMPUR: Malaysia has lost the bid to build the Padma bridge in Bangladesh to a Chinese construction company, which is believed to have offered to construct it at a lower cost.

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) has come out to say that its debt totalling RM37 billion at the financial year ended March 31, 2013, does not pose any significant risk to the sovereign rating and stability of Malaysia.

“As a limited liability company, 1MDB poses limited liability risks to the government as its shareholder.

DUBAI: Banks in the United Arab Emirates are increasing exposure to the country’s booming real estate industry betting that, five years after property values slumped and non-performing loans soared, this time it will be different.

KUALA LUMPUR: Menara Worldwide, a 25-storey office block in Kuala Lumpur owned by the Selangor State Development Corp (PKNS), has secured an occupancy rate of about 70%.

In a statement yesterday, PKNS said Menara Worldwide functions as a corporate tower, whose tenants include a number of companies such as international insurance group AIG, Lazada and Zalora.

KUALA LUMPUR: Mah Sing Group Bhd has increased the gross development value (GDV) of its 428-acre (173.2ha)   Southville City@KL South project in Bangi, Selangor by 62% to RM8.3 billion from the initial RM5.13 billion after it secured the approval of the authorities for the township’s master plan, which now includes a 2km stretch of commercial development fronti

KUALA LUMPUR: Kwasa Land Sdn Bhd, the master developer for the Kwasa Damansara township sited on 2,330 acres (942.92ha) of prime land stretching from Sungai Buloh to Subang, has received six timely submissions for its inaugural development of ‘Project MX-1’.