SUBANG JAYA: The uncertainties over the world economic prospects have started to take a toll on the local property market. Transactions have been slowing down in the past three months compared with a year ago, in addition to stricter requirements for mortgage application.

Construction sector
We compare the sector now with during the 2008 credit crunch, looking at new orders, earnings visibility, geographical exposure, balance sheet strength and valuations. Overall, we feel this domestic-oriented sector fuelled by the Economic Transformation Programme (ETP) will be less affected by a US recession or Europe debt woes.

KUALA LUMPUR: Glomac Bhd has proposed to dispose of its entire 49 percent equity interest in WHA Glomac Alliance Co Ltd, a company incorporated in Thailand, for a total consideration of 286,913,696 baht (RM30,917,424.14).

The share sale and purchase agreement was signed between Glomac Thailand Sdn Bhd, a subsidiary of Glomac, with WHA Corporation Co Ltd on Wednesday, Sept 14.

MELBOURNE: The Real Estate Institute of Australia's (REIA) data for the second quarter (2Q) of 2011 shows an improvement in the Australian residential property market compared to the previous quarter.

KUALA LUMPUR: Malaysia's property industry is expected to remain buoyant next year in tandem with the likely strong growth in the palm oil and oil and gas sectors.

BANGKOK: Best Western International is expanding its presence in Vietnam with the Best Western Premier Indochine Palace due to open in the fourth quarter (4Q) of 2011 in Hue.

SINGAPORE: The Ascott Ltd, a subsidiary of CapitaLand Ltd, has opened its first Somerset serviced residence in India, the 187-unit Somerset Greenways Chennai.

KUALA LUMPUR: Asia, including Malaysia, offers bright prospects for real estate investment and development, say industry leaders at the 11th Forbes Global CEO Conference.

Chao Teng-Hsiung, chairman of leading Taiwan developer Farglory Group, said real estate players were now focusing on Asia following the economic problems in the US and debt crisis in Europe.

ALOR SETAR: The Kedah government requires owners of agricultural land misused for other purposes to obtain a temporary permit pending application for conversion of the category of land use, Menteri Besar Datuk Seri Azizan Abdul Razak said on Wednesday, Sept 14.

He said 76 such temporary permits had been issued up to last month since the requirement was gazetted on March 31 this year.

SHANGHAI: Ping An Insurance (Group) Co of China Ltd has obtained regulatory clearance to invest in private equity and real estate, the official Shanghai Securities News reported on Wednesday, Sept 14.

Total investment in the two areas by the world's No 2 insurer by market value could total 110 billion yuan (RM53.11 billion), the newspaper reported citing unidentified sources.