BANGKOK: Three Thai developers, Siam Piwat Co Ltd, Magnolia Quality Development Corp Co Ltd and Charoen Pokphand Group Co Ltd have launched the first phase of their joint venture mega mixed development project, Iconsiam. This project is said to be the largest integrated development when fully completed.

Genting Malaysia Bhd
(July 2, RM4.15)

KUALA LUMPUR: The Selangor government has not given the full approval for five other new expressways apart from the controversial Kinrara-Damansara Expressway (Kidex). This will depend on whether they fulfil certain conditions set out by the state.

Menteri Besar Tan Sri Abdul Khalid Ibrahim said the projects, such as Kidex, were only approved “in principle”.

JOHOR BARU: The sprawling Princess Cove project in Tanjung Puteri by China-based property developer R&F Properties Co Ltd is expected to become the latest landmark in Johor Baru.

The project is located opposite Singapore’s Woodlands immigration complex and next to the Johor Causeway.

KUALA LUMPUR: Axis REIT Managers Bhd (ARMB), the manager of Axis Real Estate Investment Trust (Axis-REIT), has dismissed as “speculative” recent news reports that Axis-REIT and ARMB are potential acquisition targets by Sime Darby Bhd.

KUALA LUMPUR: Eco World Development Group Bhd plans to develop a mixed residential township with a gross development value (GDV) of RM3.5 billion in Semenyih, Selangor, following the acquisition of a 492.66-acre (199.4ha) tract there.

The project will have a focus on affordable housing.

SINGAPORE: Singapore’s home prices slid for a third consecutive quarter, the longest losing streak in five years, as tighter mortgage measures cooled demand in Asia’s second-most expensive housing market.

KUALA LUMPUR: Malaysia Resources Corp Bhd’s (MRCB) share price climbed as high as to RM1.77 yesterday before easing to end three sen or 1.75% higher at RM1.74, boosted by news that it had clinched a RM7 billion contract from Kwasa Land Sdn Bhd to develop the MX-1 project.

KUALA LUMPUR: UEM Sunrise Bhd (UEMS), the master developer of Nusajaya in Iskandar Malaysia, Johor announced that it has entered into a joint venture (JV) and shareholders agreement with Telekom Malaysia Bhd (TM) and Iskandar Investment Bhd (IIB) to form a managed services operating company.

KUALA LUMPUR: Mah Sing Group Bhd has appointed Ng Chai Yong as its chief executive officer (CEO) and executive director effective yesterday. He will preside over the organisation’s day-to-day operations. In a statement, Mah Sing said Ng, 53, has close to 30 years of experience in civil engineering, banking and property.