KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has reaffirmed its ratings on property developer Mega Palm Sdn Bhd's debt note totaling RM150 million.

It said on Wednesday, Oct 5 the ratings involved Mega Palm's bank guaranteed medium term notes (MTN) of up to RM70 million and bank guaranteed commercial papers (CP) of up to RM80 million respectively.

PETALING JAYA: Mah Sing Group Bhd is acquiring a 225.7 acre piece of freehold land in Rawang for RM57 million with plans to develop a RM948 million township.

PETALING JAYA: S P Setia Bhd will need to get the nod from shareholders for its recently proposed Semenyih land purchase in line with the current takeover and merger ruling, said a spokesman for the Minority Shareholder Watchdog Group (MSWG).

KUALA LUMPUR: The Federal Court heard and dismissed with costs of RM30,000 for the application by Metroplex Holdings Sdn Bhd as a result for the stay of execution of the orders of the High Court of Malaya granted on June 28, according to a statement issued by Sunway Group on Wednesday, Oct 4.

HONG KONG: The accelerating march of international retailers into Hong Kong is sparking strong demand for warehousing space, pushing occupancy rates at logistics centres to record levels, and rents almost back to the peaks of 2008.

HONG KONG: Internet service providers are on the prowl for space in which to house data centres, as demand among their customers for data storage rises.

HONG KONG: Leasing and sales of retail properties have slowed in the past two months as market turmoil and steep rises in rents and prices bite, agents say.

KUALA LUMPUR: Malaysian real estate investment trusts (REITs) have proven to be resilient in times of economic and financial uncertainty, said Axis REIT Managers Bhd CEO Stewart LaBrooy.

Speaking after the launch of the Malaysian chapter of the Asia Pacific Real Estate Association (Aprea), LaBrooy said in times of market turbulence, REITs have proven their resilience.

KUALA LUMPUR: In the midst of being the target of a takeover, property developer S P Setia Bhd has announced the proposed acquisition of a piece of land measuring 673.2 acres (272.4ha) in Semenyih, Ulu Langat, Selangor for RM381.25 million cash.

KUALA LUMPUR: VTI Vintage Bhd has been appointed project manager, turnkey contractor and marketing agent for 30 units of low-rise high-end apartments to be built in Taman U-Thant here.

It said on Tuesday, Oct 4, its unit Vintage Roofing & Construction Sdn Bhd had accepted a letter of award from Gou Yaoming of Shenzen, China to administer the project.