PETALING JAYA: Even as the market awaits an alternative bid for S P Setia Bhd, Permodalan Nasional Bhd (PNB) is absorbing more shares from the market and increasing its interest in the property developer.

PETALING JAYA: Certain parties have indicated interest in acquiring a project en bloc from Dijaya Corp Bhd, its managing director Datuk Tong Kien Onn told The Edge Financial Daily.

"We do not have any specifics, but interest has been expressed in buying an entire project from us," said Tong after the company EGM on Monday, Oct 3.

KUALA LUMPUR: Benalec Holdings Bhd, which made its debut earlier this year, has not been spared the market sell-off in the last two months. Having dropped to its IPO issue price, it is still favoured by analysts for its niche in the marine construction industry.

Construction sector
Maintain overweight: We have turned positive on the construction sector as there is now even more urgency for the government to expedite the rollout of various public projects to pump-prime the local economy to shield it against the increased risk of the global economy slipping into a double-dip recession.

SHAH ALAM: S P Setia Berhad Group is acquiring about 673.27 acres of freehold land in Semenyih, Selangor for RM381.3 million or RM13 per sq ft. The sale and purchase agreement was made between Setia Hicon Sdn Bhd (a wholly-owned subsidiary of the Group) with Spektrum Megah (M) Sdn Bhd.

SHANGHAI: The Chinese city of Wenzhou, an entrepreneurial city in the eastern province of Zhejiang, has set a legal threshold for interest rates on private loans, taking its first step to regulate the rampant underground loan market.

KUALA TERNGGANU: The people of Terengganu staying in the town area, but still do not own a house, are encouraged to apply for one, while those residing in the rural areas are encouraged to apply for land to build their house.

PETALING JAYA: After its takeover bid for S P Setia Bhd, speculation is rife that Permodalan Nasional Bhd (PNB) may be eyeing its other holdings, particularly against the backdrop of a softening equity market.

PNB said the move for S P Setia is to turn it into a strategic shareholding, as this would allow it to further strengthen its portfolio.

KUALA LUMPUR: To S P Setia Bhd president and CEO Tan Sri Liew Kee Sin, coming in first in The Edge Top Property Developers Awards 2011 is not so much about winning as it is about being able to benchmark itself against the top developers in Malaysia.

KUALA LUMPUR: S P Setia Bhd has been ranked the No 1 developer in Malaysia in The Edge Top Property Developers Awards (TPDA) 2011, marking its sixth appearance at the top. The developer was No 1 in the annual rankings from 2005 to 2008 and in 2010.