HONG KONG: Longfor Properties Co Ltd, which was red-flagged by Moody's last month, said on Monday, Aug 15 that it has replaced its chief executive officer effective immediately.

Wu Yajun had resigned as CEO of Longfor and the post had been taken over by Shao Mingxiao, who was deputy CEO and general manager of the company's commercial properties, Longfor said without elaborating.

KUALA LUMPUR: Last week's stock market selloff and volatility sparked by the downgrade of the US' credit rating and economic concerns have thrown into question the outlook for Malaysia's property sector. With investor confidence now shaken, the big question is whether that will also affect the property sector.

SP Setia
Semenyih land acquisition

KUALA LUMPUR: Sarawak-based property developer Naim Holdings Bhd is pursuing projects worth more than RM1 billion, according to senior director Ricky Kho.

There is no question that Malaysia’s residential property market had a great run between 2001 and 2011. But property stocks have had a chequered performance record.
A capitalisation-weighted sector index, the Bursa Malaysia Properties Index suggests property stocks exhibit a pattern of returning to the approximate base levels (starting points) after the index completes its rally.

KUALA LUMPUR: In light of last week's volatile market brought on by fears of a double-dip recession in the US and its impact on global economic growth, Tan Sri Leong Hoy Kum, Mah Sing Group Bhd managing director and CEO, shares his perspective with The Edge Financial Daily.

Mah Sing Group Bhd will reach an important milestone this month — the soft opening of its first retail mall at its recently completed Southgate development in Sungai Besi, Kuala Lumpur.

Occupancy, rents not keeping up with prices

The property development industry is not an easy one to enter. It takes plenty of foresight, the right location and the financial backing to see a project to its end.

KUALA LUMPUR: S P Setia Bhd plans to undertake a mixed residential township development project in Ulu Langat with an estimated gross development value of RM3.5 billion.

The company said on Friday, Aug 12, the project would be carried out on 1,010.5 acres of freehold land which it is purchasing from Ban Guan Hin Realty Sdn Bhd for RM330.13 million or RM7.50 per square foot.