SINGAPORE: A consortium that includes Singapore tycoon Ong Beng Seng and Wheelock Properties (Singapore) Ltd has increased its offer price for a stake in Hotel Properties Ltd to S$4 (RM10.33) per share, valuing the company at around S$2.07 billion.

LONDON: British Land Co plc, developer of London’s “Cheesegrater” skyscraper, said it was starting to benefit from a long-awaited recovery in Britain’s commercial property markets, as it posted a 15% jump in full-year net asset value (NAV).

MANILA: Khazanah Nasional Bhd and global private investment firm TPG have agreed to buy US$132 million (RM428 million) worth of shares in 8990 Holdings Inc, the Philippine mass housing developer said yesterday.

KUALA LUMPUR: Malaysia Aica Bhd (Maica) expects “exponential” growth in both revenue and earnings over the next three to five years, driven by expansion in its property development, said executive chairman Datuk Ter Leong Yap.

KUALA LUMPUR: Glomac Bhd is foreseeing a challenging year ahead as the impact of Bank Negara Malaysia’s cooling measures sinks in curbing speculative demand.

KLCCP Stapled Group
(May 12, RM6.47)

Eco World Development Group Bhd
(May 12, RM4.68)
Initiating coverage with add call and target price of RM8.00: We initiate coverage on Eco World with an “add” call and implied target price of RM8  (ex-rights and warrants target basis of parity with revised net asset value). This provides investors 72% upside.

JOHOR BARU: Tebrau Teguh Bhd is currently in discussions with local and international property players to jointly develop strategic waterfront tracts sprawled across 400ha of the Tebrau-Plentong river basin here.

KUALA LUMPUR: Led by the property sector, the value of construction works done in the first quarter of the year grew a sharp 21.2% to RM25 billion —the fastest year-on-year (y-o-y) pace since Q42012 and the highest level since data collection began in 2008. Value of works done grew by a slower 11.3% y-o-y last quarter in contrast.

KUALA LUMPUR: Eupe Corp Bhd plans to roll out at least four projects, two projects each in Selangor and Kedah, with a combined gross development value (GDV) of RM960 million in the current financial year ending Feb 28, 2015 (FY15).