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.

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.

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.

KUALA TERNGGANU: The people of Terengganu staying in the town area, but still do not own a house, are encouraged to apply for one, while those residing in the rural areas are encouraged to apply for land to build their house.

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.

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.

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.

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.

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.

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.