IT has been a little over a year since United Malayan Land Bhd (UMLand) was taken private. According to group CEO Charlie Chia Lui Meng, “We have progressed by leaps and bounds since then. In fact, the Johor market is so hot that we are trying to get more products into the market as soon as possible.”

BANGKOK: Shares in Thailand’s property firms rallied on Wednesday after the central bank unexpectedly cut rates, lifting the laggard sector gripped by political woes and a weak economic backdrop.

The property sub-index jumped 3.2%, the best performing sector on the Thai bourse. It had fallen around 11% this month to Tuesday, underperforming the 5.8% loss of the broader market.

PETALING JAYA: Four out of six towers in the first phase of Tropicana Corp Bhd’s joint venture project with Ivory Properties Group Bhd, Penang Worldcity in Penang have sold 85% since the preview in Febuary. Named Tropicana Bay Residences, the first phase of the waterfront integrated development has a gross development value (GDV) in excess of RM835 million.

PETALING JAYA: Mainland Chinese investors are the most influential buyers in the world’s prime new-build sector, favouring properties in Hong Kong, New York and London, according to Knight Frank’s Global Development Insight 3Q13.Investors from Singapore and Russia come in second and third place respectively, said Nicholas Holt, head of research for Asia-Pacific.

SEPANG: TH Properties Sdn Bhd’s latest two-storey semi-detached and bungalow residence, Pearl@Enstek has achieved 40% take-up since its launch on Nov 23.“Pearl@Enstek, a gated and guarded development offers an exclusive freehold and close-knit neighbourhood as it only has 35 units.

KUALA LUMPUR: Mixed development malls such as Sunway Pyramid may be better for the economy than single or stand-alone malls, according to the Malaysia Shopping Malls Association (PPK Malaysia).“With increasing land costs, we want to have more activities.

Eastern & Oriental Bhd
(Nov 27, RM1.92)

KUALA LUMPUR: The proposed hike in assessment rates in the city will be deferred indefinitely and the period for obtaining public feedback extended to March next year, Deputy Federal Territories Minister Datuk J Loga Bala Mohan announced yesterday.

The deadline for objections was earlier set for Dec 17 as the new assessment rates were due to come into effect on Jan 1.

KUALA LUMPUR: Opposition MPs questioned yesterday if there were elements of favouritism tinged with political consideration in approving allocations for 1Malaysia Maintenance Fund (TP1M) for low- and medium-cost flats.

Sim Tze Tzin (PKR-Bayan Baru) said there was a “disproportion” in the allocations of funds in favour of the Federal Territories.

KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB), the independent adviser appointed by Mudajaya Group Bhd in relation to the proposed joint venture (JV) between Mulpha Land Bhd and MJC Development Sdn Bhd (MJC), said the JV is “fair” and “reasonable” and not detrimental to the interest of the minority shareholders.