KUALA LUMPUR: PN 17 company Tracoma Holdings Bhd may have found a white knight in Yasmin group to rescue it from being delisted.

Tracoma announced on Wednesday, Mar 23 it had inked a memorandum of understanding with Yasmin Holdings Sdn Bhd as part of a revised scheme plan via a corporate exercise to be determined later.

S P Setia Bhd (Mar 23, RM6.18)
Maintain buy at RM6.15 with lower target price RM7.10 (from RM7.20): The recent selldown of S P Setia shares represents a golden opportunity to buy the stock given the company's excellent sales performance and earnings growth prospects.

GEORGE TOWN: The Penang government has decided to commence legal action against Tropical Island Resort (TIR), which operates a resort on Pulau Jerejak, to recover RM10.6 million in land premium owed for 80 acres (32ha) of land on the island.

WASHINGTON: New US single-family home sales unexpectedly fell in February to hit a record low and prices were the lowest since December 2003, a government report showed on Wednesday, Mar 23, suggesting the housing market slide was deepening.

SINGAPORE: Moody's Investors Service says in a new report that the expansion plans of the Singaporean industrial real-estate investment trusts (S-REITs) into China poses a number of business risks, particularly because of the legal and regulatory environment.

Investment Highlights

KUALA LUMPUR: GuocoLand (Malaysia) Bhd's wholly-owned subsidiary HLL Overseas Limited had on Wednesday, Mar 22 incorporated a wholly-owned subsidiary known as Positive Vision Labuan Ltd (PVL) as an investment holding company.

KUALA LUMPUR: Newly-listed Benalec Holdings Bhd is standing out from its construction peers and rapidly gaining investor attention.

BEIJING: China's government has dispatched eight "special" teams across the country to assess the impact of its property tightening measures, the official China Securities Journal reported on Wednesday, Mar 23.

The move followed measures announced by China's cabinet and a maiden property tax in January to prevent a housing bubble from forming and leading to social unrest.

TOKYO: Japan's office market recovery will be set back by the the 9.0-magnitude earthquake and subsequent tsunami, albeit only on a limited scale in the short-term according to early analyses by international real estate outfit DTZ.