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RM200m to rejuvenate Sunway Putra Mall

PETALING JAYA (Mar 14): Sunway REIT Management Sdn Bhd (SunREIT) plans to invest an estimated RM200 million to rejuvenate Sunway Putra Mall, said CEO Datuk Jeffrey Ng.

The investment will go towards renovating the mall and improving accessibility, he told reporters at a press briefing on Wednesday.

Sales at highest level in a year

MACAU (Mar 14): New offerings are expected to release pent-up demand and help lift Macau home sales to their highest levels in nearly a year, estate agents say.

Shifting fortunes of Hibor and prime

HONG KONG (Mar 14): After making the biggest investment decision of her life to buy a flat in Hong Kong, Palanka Luk is now wrestling with another challenge — what type of mortgage should she choose?

"A prime-linked rate, or a loan linked to the Hong Kong interbank offered rate (Hibor)?" mused the single office worker in her mid-30s.

Return of record prices at top end

HONG KONG (Mar 14): A growing number of deals in major housing estates are being done at record prices as owners seek to cash in on a recovery in market sentiment, property agents say.

New projects support Magna Prima

We believe that Magna Prima Bhd’s (84 sen) earnings will continue to improve over the next few years, underpinned by the company’s roster of new property developments.
The company’s earnings results for 4QFY11 and full-year FY11 registered improvement over the previous year, albeit at a slower than expected pace.

IJM buys 20% of West Coast Expressway

KUALA LUMPUR (Mar 14): IJM Corp Bhd is buying a 20% equity interest in West Coast Expressway Sdn Bhd (WCE) for RM6.75 million.

In an announcement to Bursa Malaysia, IJM said its wholly-owned subsidiary Road Builder (M) Holdings Bhd has entered into a share sale and purchase agreement with Prominent Xtreme Sdn Bhd for the 20% in WCE, consisting of 5.8 million RM1 shares.

Golden Palm Growers to sell all plots by 2013

KUALA LUMPUR (Mar 13): Golden Palm Growers Bhd, a subsidiary of Australian Stock Exchange-listed Sterling Biofuels International Ltd, is confident of selling all the plots under its golden palm growers (GPG) scheme by the end of 2013, according to group executive chairman Andrew Phang.

Kimlun bags RM151.6m jobs

KUALA LUMPUR (Mar 13): Kimlun Corp Bhd has bagged two contracts worth RM151.6 million for real estate deals in Johor Bahru, which are expected to boost earnings until February 2014.

Paramount pays RM125m for industrial land

KUALA LUMPUR (Mar 13): Paramount Corp Bhd has acquired a 30-acre (12ha) freehold industrial tract in Selangor for RM125 million to develop semi-detached factories.