KUALA LUMPUR: Having just raised RM385.5 million in cash from selling its 88.5-acre (35.4ha) land in Subang to Dijaya Corp Bhd last month, Taiwanese-controlled Chunghwa Picture Tubes (M) Sdn Bhd is divesting another of its property investment here — a deal that will see the family of Tan Sri Lee Kim Yew consolidating their stake in Country Heights Holdings Bhd (CHHB).

LONDON: British housebuilders see signs that the housing market is proving more resilient than many feared due partly to pent-up demand from people who need to move house despite mortgages still being tough to obtain.

Malaysia Building Society Bhd (July 13, RM1.39)

KUALA LUMPUR: Hua Yang Bhd more than doubled its net profit to RM11.48 million for its first quarter (1Q) ended June 30, 2012 from RM4.91 million a year ago, it announced to Bursa Malaysia on Thursday, July 14.

KUALA LUMPUR: Berjaya Corporation Bhd (BCorp) and POSCO E&C Co Ltd signed a Memorandum of Understanding (MoU) for mutual cooperation on projects relating to engineering, construction and development.

The MoU was signed at the Berjaya Times Square Hotel in Kuala Lumpur on Wednesday, July 13.

KUALA LUMPUR: AM-EL Group Sdn Bhd is set to hold a preview for its condominium development called St John Woods Residence this weekend. The developer is confident in selling all the 48 units of the RM180 million development, located on Persiaran Raja Chulan in Kuala Lumpur, during its preview.

KUALA LUMPUR: Naza TTDI Sdn Bhd plans to launch its Semarak Avenue mixed-development at Jalan Semarak in 3Q2012, said group managing director SM Faliq SM Nasimuddin on Wednesday, July 13.

It was reported earlier that the project has a gross development value of RM1 billion and will comprise 1,625 housing and commercial units built over a 14-acre tract of land.

KUALA LUMPUR: RHB Research Institute says Malaysian REITS (MREITS) could be worth a look especially for investors who want to continue to have an exposure to the property sector that also offers sustainable yields.

KUALA LUMPUR: Nadayu Properties Bhd has formalised the acquisition of the 1.4ha tract of vacant freehold land in Jalan Sultan Ismail from UDA Holdings Bhd for RM215.5 million, a controversial deal UDA is banking on to revive its fortunes.

KUALA LUMPUR: Investors of real estate investment trusts (REITs) may see better returns this year in terms of dividends.