SINGAPORE: Singapore’s developers posted the worst performance on the benchmark Straits Times Index this year after recording the biggest gains in 2012 as property curbs drove home sales lower and slowed price gains.

KUALA LUMPUR: Johor-based property developer Daiman Development Bhd has acquired 100% stake in Sin Yue Holdings Sdn Bhd, a company that owns 128.8ha of agricultural land in the state, for RM33.1 million cash.

The acquisition is motivated by the group’s plans to increase its landbank in Johor.

KUALA LUMPUR: Ho Hup Construction Company Bhd will submit the proposal for its upliftment from PN17 status to Bursa Malaysia after the completion of its financial regularisation exercise today, said executive director Derek Wong Kit Leong.

KUALA LUMPUR: Selangor Properties Bhd’s pre-tax profit for the financial year ended Oct 31, 2013 (FY13), rose to RM132.17 million from RM122.13 million a year ago. Revenue rose to RM239.49 million from RM224.47 million previously. In a filing with Bursa Malaysia, the company said the higher pre-tax profit was contributed mainly by investment holdings and its Australian business.

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KUALA LUMPUR: Sunway City (Penang) Sdn Bhd (SCP), an indirect unit of Sunway Bhd, has signed a sale and purchase agreement with Luxor Precision Sdn Bhd to acquire four pieces of freehold land in Penang for RM267.41 million.

KUALA LUMPUR: Property investment company Perduren (M) Bhd’s majority shareholder TS Law Group Sdn Bhd’s bid to take over the company at RM1.10 per share was deemed as not fair but reasonable by independent adviser KAF Investment Bank Bhd.

ONE of the first emporiums in Petaling Jaya’s town centre was recently sold to an international ice-cream brand franchise holder for RM42 million.

We look at ourselves as a value developer rather than a property developer,” says Tan Gay Beng, general manager and director of BTHomestead Development Sdn Bhd (BTH).

JOHOR BARU’S residential market continued to grow in 3Q2013. The area where most homes experienced appreciation was Nusajaya/Skudai. Values of all of the 2-storey houses there, except in Nusa Idaman, grew by 4% (The Gateway at Horizon Hills, to RM780,000) to 11% (Taman Impian Emas, to RM500,000) on a quarterly basis.