KUALA LUMPUR: The Federal Government revenue — comprising tax revenue and non-tax revenue — is expected to increase 1.9% to RM186.906 billion in 2012 from RM183.375 billion in 2011 due to better prospects for the domestic economy.

KUALA LUMPUR: The RM230.833 billion Federal Government Budget 2012 proposals, unveiled on Friday, Oct 7, will focus on seven core areas including reducing the impact of inflation while focusing on the rakyat, especially the lower-income group and those in the rural areas.

KUALA LUMPUR: The government projects the economic growth to pick up in 2012, with gross domestic product (GDP) expanding between 5% and 6% with construction as one of the key drivers.

This is a more upbeat forecast compared with the 5% and 5.5% GDP growth expected in 2011 following headwinds from the US and Europe banking crisis.

KUALA LUMPUR: Shares in Malaysia Building Society Bhd (MBSB) surged on heavy volume on Thursday, Oct 6 amid expectations that Budget 2012 will provide a boon to civil servants.

Mah Sing Group Bhd (Oct 6, RM1.77)

KUALA LUMPUR: OSK Property Holdings Bhd will build its second Mirage series of upscale homes in Jalan Yap Kwan Seng near the Kuala Lumpur City Centre (KLCC).

PETALING JAYA: Demand for affordable new homes in the Middle East and North Africa (Mena) region far outstrips supply as the region’s population grows at double the world’s average growth rate.According to a report published by global real estate investment and advisory firm Jones Lang LaSalle, there is a combined shortage of more than 3.5 million affordable dwellings across the major markets w

BANGKOK: Hotellier Best Western International, for the fifth consecutive year, has been awarded the title of Best Mid-Range Hotel Brand during the 22nd Annual TTG Travel Awards 2011.

Since the introduction of the Best Mid-Range Hotel Brand award in 2007, Best Western has been the only company to clinch the title.

PETALING JAYA: Only a limited number of retail, office and serviced apartment units of mixed commercial development Jaya One’s new phase in Section 13, Petaling Jaya, will be available for sale during its launch on Oct 22.Developer Tetap Tiara Sdn Bhd will keep most of the retail units for recurring income while about 70% of the serviced  apartment units and offices as well as some retail lots

KUALA LUMPUR: London-based asset manager London Central Portfolio (LCP) has launched a syariah-compliant London residential property fund.The new fund called London Central Apartments (LCA) is the first syariah-compliant fund investing in the London residential property market. This is LCP’s third fund launched in four years.