KUALA LUMPUR: The Selangor government has asked Tropicana Corp Bhd to expedite the payment of RM844.2 million for a huge tract of land it sold to the latter just before last year’s general election.

KUALA LUMPUR: KSK Group Bhd has completed the acquisition of a land parcel located in Jalan Conlay in Kuala Lumpur with the finalisation of all due processes following the signing of the sale and purchase agreement (SPA) at the end of December 2013.

KUALA LUMPUR: Paramount Corp Bhd (PCB) inked a deal with Penang Development Corp (PDC) yesterday for the purchase of 30 acres (12.14ha) of freehold land in Batu Kawan for RM65.56 million.

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) is actively looking to acquire neighbourhood malls outside of main city areas that other larger REIT players or investors shy away from.

KUALA LUMPUR: Berjaya Land Bhd reported a net loss of RM19.72 million for its third quarter ended Jan 31 of financial year 2014 (3QFY14), a 14% increase from a net loss of RM17.29 million in the previous corresponding quarter despite higher revenue. Revenue was up 34.4% to RM1.39 billion.

KUALA LUMPUR: Malaysia Aica Bhd’s (Maica) new controlling shareholder, Datuk Ter Leong Yap, is expected to inject three major property developments into the company with an estimated gross development value (GDV) of RM10 billion.

KUALA LUMPUR: Earnings of property developers, though expected to still be intact this year backed by their respective unbilled sales, are however expected to slow down in the next two years, according to analysts.

KUALA LUMPUR: MMC-Gamuda KVMRT (PDP) Sdn Bhd, a 50:50 joint venture between MMC Corp Bhd and Gamuda Bhd, has denied it is one of the five bidders for the proposed RM340 million KL Sentral pedestrian linkway tunnel project.

KUALA LUMPUR: Household debt in Malaysia, which reached 86.8% of gross domestic product (GDP) at end-2013, may continue to rise in the near term.

Fitch Ratings, in its comment on Bank Negara Malaysia’s (BNM) latest figures on the country’s household debt, said the rising trend will increase risks on at least two fronts.

KUALA LUMPUR: Pacific and Orient Bhd (P&O) has entered into an agreement to purchase a tract of land in Miami, Florida for US$7.42 million (RM24.5 million).

In a filing with Bursa Malaysia yesterday, the company said the land, measuring 3.22 acres (1.3ha), will be purchased by its subsidiary P&O Global Technologies Inc from Bianca Investments LLC, which is based in Delaware.