HONG KONG: Blackstone Group LP is selling its stake in Shanghai's Channel 1 shopping mall to Hong Kong's New World Development Co for 1.46 billion yuan (RM726 million), marking its first exit from a real estate investment in China, a source familiar with the matter said.

KUALA LUMPUR: A majority of the developers expect property prices to rise by a further 20%. However, the price increment is not so much because of strong demand but the rising cost of building materials.

PETALING JAYA: When Sime Darby Bhd acquired a 30% stake in Penang-based Eastern & Oriental Bhd, it was just the latest in a series of acquisitions led by government-linked companies (GLCs) in private sector property developers.

KUALA LUMPUR: Bukit Kiara Properties Sdn Bhd (BKP) group chairman Datuk Alan Tong Kok Mau was conferred the National Real Estate Leadership Award from the Malaysian Institute of Estate Agents (MIEA) for his contribution to the local property scene.

KUALA LUMPUR: Property stocks have been among the hardest hit from the recent sell-off in equities, reflecting a waning optimism in the sector.

The KL Stock Exchange Property Index, which serves as a benchmark for the sector, fell to its lowest point since July 2010 last Friday. It closed at 833.8 points, a stunning week-on-week loss of 13%.

S P Setia Bhd (Sept 23, RM3.08)
Maintain buy at RM3.19 with fair value of RM5.41: We reaffirm our "buy" rating on S P Setia with our fair value unchanged at RM5.41, at par to its fully-diluted NAV estimate.

Eversendai Corp Bhd (Sept 23, RM1.55)
Maintain buy at RM1.58 with target price of RM2.17: Amid the global recession fears, Eversendai secured three new jobs, worth a total of RM371 million in India and the Middle East. No change to our earnings forecasts as we have imputed job win potential in our model.

WCT Bhd (Sept 23, RM2)

Drawing medical tourists

The Tiong Nam name is associated with logistics. After all, Tiong Nam Logistics Holdings Bhd (TNLH) has been in business since 1972 and steadily extending its operations into new locations and industries.