GEORGE TOWN: Nusmetro Ventures (P) Sdn Bhd is forging ahead to rebrand itself from building only mass market housing projects to higher-end property development both in Penang and in the Klang Valley.

Nusmetro executive director Thomas Chan said aside from building mass market contemporary homes, the other two categories are signature and the art series boutique homes.

Villages the aged could retire to

Malaysia-based Amarin Group of Companies will be adding a hotel on the idyllic island of Bali, Indonesia, to its property development portfolio.

The hot spots for condominiums on the secondary market in the Klang Valley are the established areas of Petaling Jaya, say real estate agents polled by City & Country.

KUALA LUMPUR: Property developer S P Setia Bhd announced on Friday, Oct 14 that the Securities Commission has approved Permodalan Nasional Bhd's (PNB) conditional takeover offer of the company.

Maybank Investment Bank Bhd, which is acting for PNB, is required to inform the Securities Commission upon completion of the offer, said S P Setia in a filing to Bursa Malaysia on Friday.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) has clinched a RM46.7 million contract from the Department of Irrigation and Drainage to carry out phase two of the project to construct a breakwater in Kuala Sungai Pahang, Pahang.

The construction will be completed by March 2013, said MRCB in a filing to Bursa on Friday, Oct 14.

KUALA LUMPUR: Cash-rich Jerneh Asia Bhd's proposal to buy a Sabah-based developer is said to be out the window as definitive terms could not be agreed upon despite extensive discussions, a source said, opening up the possibility of a capital repayment to shareholders, if necessary approvals are granted.

KUALA LUMPUR: Rating agency RAM Rating Services Bhd opines that there is no immediate rating impact from Permodalan Nasional Bhd's (PNB) recent conditional offer for the remaining shares of S P Setia Bhd.

S P Setia's RM500 million Redeemable Serial Bonds are currently rated AA3/P1 by RAM Ratings; the long-term rating has a stable outlook.

KUALA LUMPUR: The Atmosphere Sdn Bhd, a joint venture between Tempo Properties Sdn Bhd and Eksons Corp Bhd, will be offering more retail units in the latest phase of its mixed commercial development The Atmosphere in Seri Kembangan, Selangor.

KUALA LUMPUR: The 5% increase in the real property gains tax (RPGT) for properties held for two years or less is a realistic percentage, according to Housing and Local Government Minister Datuk Wira Chor Chee Heung.