KUALA LUMPUR: There is a 40% oversubscription to the 1.07 billion IOI Properties Group Bhd shares under the non-renounceable restricted offer by IOI Corp Bhd.

This is in conjunction with the planned listing of IOI Properties on Bursa Malaysia’s Main Market on Jan 15.

KUALA LUMPUR: Main Market-bound IOI Properties Group Bhd (IOIPG) is targeting to achieve sales of RM2.5 billion to RM3 billion for its financial year ending June 30, 2015 (FY15), said its newly appointed chief executive officer (CEO) Lee Yeow Seng.

KUALA LUMPUR: The Employees Provident Fund (EPF) has made its latest overseas acquisition by buying a 50% stake in UK-based Arena Trust, which owns three Tesco-anchored retail parks, for £156.5 million (RM842 million) from Aviva Investors.

HONG KONG: The number of properties sold in Hong Kong fell by more than a third last year to a 17-year low as a drastic increase in tax on home sales, introduced to tackle rising prices, easily outweighed discounts offered by the city’s property developers.

Real estate sector
Maintain Neutral: Notwithstanding the current undemanding valuations, the real estate sector still lacks positive catalysts over the near term that could lead to a sustainable rerating. Most of the regulatory measures have taken effect from Jan 1 and, as such, we believe investors will need time to monitor the severity of the combined measures.

KUALA LUMPUR: The Johor High Court has granted an order to validate the sale and purchase agreement (SPA) and supplemental agreement for Mah Sing Group Bhd’s Bandar Meridin East, a proposed RM5 billion township in Pasir Gudang, Johor.

KUALA LUMPUR: Paramount Properties Sdn Bhd, a wholly-owned subsidiary of UOA Development Bhd (UOA), has proposed to dispose of an office building in Kuala Lumpur to Marak Moden Sdn Bhd for RM72.5 million.

KUALA LUMPUR: Genting Hong Kong Ltd is stepping up the groundwork for a foothold in the world’s largest casino market with plans for a “Resorts World Macau”. Just months ago, Macau officials signalled the possibility of accepting new players, with existing Macau gaming concessions up for review in about seven years.

GEORGE TOWN: In a display of indignation on the morning of Jan 1, Teh Yee Cheu, the eccentric Penang legislator known for his environmental activism, had his head shaved bald in front of the now infamous Bukit Relau.

Early last year, the hill was illegally cleared and turned into a dusty scab by a developer.

KUALA LUMPUR: Eco World Development Group Bhd (EWD) is undertaking a review of its business plans, which includes possible injection of viable landbank or property development projects by its major shareholder, it said in a reply to Bursa Malaysia, which had queried the unusual market activity of its stock recently.