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MRT project to buoy sector

Construction sector
Maintain overweight:
We have turned positive on the construction sector as there is now even more urgency for the government to expedite the rollout of various public projects to pump-prime the local economy to shield it against the increased risk of the global economy slipping into a double-dip recession.

S P Setia acquires 673 acres of land in Semenyih for RM4billion project

SHAH ALAM: S P Setia Berhad Group is acquiring about 673.27 acres of freehold land in Semenyih, Selangor for RM381.3 million or RM13 per sq ft. The sale and purchase agreement was made between Setia Hicon Sdn Bhd (a wholly-owned subsidiary of the Group) with Spektrum Megah (M) Sdn Bhd.

Chinese city takes step toward regulating private loan market

SHANGHAI: The Chinese city of Wenzhou, an entrepreneurial city in the eastern province of Zhejiang, has set a legal threshold for interest rates on private loans, taking its first step to regulate the rampant underground loan market.

More M&As in PNB's stable?

PETALING JAYA: After its takeover bid for S P Setia Bhd, speculation is rife that Permodalan Nasional Bhd (PNB) may be eyeing its other holdings, particularly against the backdrop of a softening equity market.

PNB said the move for S P Setia is to turn it into a strategic shareholding, as this would allow it to further strengthen its portfolio.

S P Setia going the extra mile to excel

KUALA LUMPUR: To S P Setia Bhd president and CEO Tan Sri Liew Kee Sin, coming in first in The Edge Top Property Developers Awards 2011 is not so much about winning as it is about being able to benchmark itself against the top developers in Malaysia.

Celebrating top developers

KUALA LUMPUR: S P Setia Bhd has been ranked the No 1 developer in Malaysia in The Edge Top Property Developers Awards (TPDA) 2011, marking its sixth appearance at the top. The developer was No 1 in the annual rankings from 2005 to 2008 and in 2010.

Rehda hopes no changes to housing sector laws

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda) hopes the government will not make changes to the current laws regulating the housing industry in the upcoming budget.

E&O shareholders play safe

KUALA LUMPUR: Many minority shareholders of Eastern & Oriental Bhd (E&O) who attended the AGM last Friday, Sept 30 were seen coming out from the meeting with a sour face.

KWC to open doors next month

KUALA LUMPUR: Kenanga Wholesale City (KWC), touted as Malaysia's first fashion wholesale mall, will commence business come mid-October.

The 22-storey KWC is developed on a 3.2 acre (1.3ha) site along Jalan Kenanga in the Pudu area in Kuala Lumpur.