KUALA LUMPUR: The Court of Appeal has ruled that Sunway Real Estate Investment Trust (SunREIT) is the rightful owner of Putra Place building and dismissed the appeal by Metroplex Holdings Sdn Bhd.

Sunway group in a statement on Tuesday, Sept 27 said the Court of Appeal had dismissed Metroplex's appeal against the High Court's orders granted on June 28.

KUALA LUMPUR: The Malaysian Chinese Association's (MCA) acquisition of Menara Multi-Purpose is a long-term investment for the party, said president Datuk Seri Dr Chua Soi Lek.

On Monday, Sept 26, Multi-Purpose Holdings Bhd (MPHB) announced that it had disposed of the 43-storey Menara Multi-Purpose together with 414 car park bays free from encumbrances to MCA for RM375 million.

KUALA LUMPUR: Malaysian-owned InterContinental Sydney, located just next to Sydney's famous Opera House, has been voted as one of the top city hotels in Australasia, as part of this year's Travel+Leisure World's Best Awards, according to Mulpha International Bhd on Tuesday, Sept 27.

PETALING JAYA: In a win for minority shareholders, the proposed asset disposal exercise by Bandar Raya Development Bhd (BRDB) to its major shareholder Ambang Sehati Sdn Bhd has been now scrapped and will be undertaken by an open tender system, after analysts and the media pointed out that minority shareholders could be on the losing end should the deal go through without opening it to other com

KULIM: Tune Hotels aims to have a network of 100 hotels in Malaysia and overseas by 2015, says its chief executive officer Mark Lankester.

He said the company would invest between US$5 million and US$15 million (RM15.73 million and RM47.19 million) in a hotel with 150 rooms and above.

HANGZHOU/HONG KONG: China is moving to choke off funding avenues to developers across the country, tightening or eliminating credit options in a bid to slow the rampant property market and bring down prices without sending the broader economy into a crash.

KUALA LUMPUR: RHB Research Institute said many property stocks are still trading at above their seven-year historical mean price-to-book and price-to-earnings.

It said on Tuesday, Sept 27 that it expects the sector to continue underperforming the broad market.

KUALA LUMPUR: The Malaysian Chinese Association (MCA) has closed the deal on the Menara Multi Purpose for RM375 million, just in time to celebrate the purchase with its delegates at its AGM this weekend.

S P Setia Bhd (Sept 26, RM3.10)

WASHINGTON: Sales of new homes in the US fell 2.3% in August. According to the National Association of Home Builders (NAHB), entry-level homes are driving the new-home market.

"The price data shows entry-level homes are generally driving the new-home market right now, and that's because first-time buyers don't have another home they have to sell," said NAHB chairman Bob Nielsen.