KUALA LUMPUR: Malaysia Aica Bhd (Maica) has inked two agreements with Cangkat Nusantara Sdn Bhd (CNSB), a related company of privately owned property developer, Sunsuria Development Sdn Bhd, for land and asset acquisitions, for a total consideration of RM56 million, to be settled with RM42 million in cash and the issuance of 28 million new Maica shares.

SHAH ALAM: The Selangor government supports the construction of the Kinrara-Damansara Expressway (Kidex) but issues regarding the alignment must be resolved with the planning departments involved.

Axis REIT
(Oct 22, RM3.44)

GEORGE TOWN: The demand for property, both commercial and residential, in Penang has been so high that there may be a shortage in the state, said Chief Minister Lim Guan Eng.

DUBAI: An international meeting in Paris next month may trigger billions of dollars of fresh investment in Dubai — and, if plans are not handled carefully, contribute to the kind of boom-and-bust cycle which nearly bankrupted the emirate four years ago.

KUALA LUMPUR: The Dewan Rakyat was told yesterday that the alleged loss of RM400 million by Ekuiti Nasional Bhd (Ekuinas) in the acquisition of land in Singapore was untrue.

Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar said Ekuinas had an external sourcing programme and the company picked to implement it had yet to make any investments.

Johor Baru: IGB Corp Bhd yesterday kick-started its first property project in Johor, the RM6 billion integrated Mid Valley Southkey Megamall project, which will be the state’s single biggest integrated retail and commercial development.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) reported a 90% rise in net profit for the third quarter ended Sept 30 of 2013 financial year (3QFY13) from a year ago, mainly due to property revaluation gains.