HONG KONG: Shares of Chinese property developer Evergrande fell by as much as 18% on Friday, Sept 30 in its biggest plunge ever, hit by fears that its September sales could come in worse than expected and continued worries about high debt levels.

PETALING JAYA: Apart from substantial shareholder Tan Sri Liew Kee Sin, S P Setia Bhd's minority shareholders are probably also thinking hard whether to accept Permodalan Nasional Bhd's (PNB) takeover offer of RM3.90 per share.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) defended its conditional takeover offer for S P Setia Bhd at RM3.90 per share  as "fair and reasonable".

KUALA LUMPUR: Gamuda Bhd registered a 45.5% rise in net profit to RM126.2 million for its 4QFY11 ended July 31 from RM86.7 million in FY10. Revenue grew 13.4% to RM810.6 million in the same period.

PETALING JAYA: Malaysia's largest sugar refiner MSM Malaysia Holdings Bhd on Thursday, Sept 29 announced it has executed the lease agreement between the group and Perbadanan Aset Keretapi (PAK) over the lease of plots of freehold land in Bandar Prai, Seberang Prai Tengah, Penang.

KUALA LUMPUR: Selangor Properties Bhd (Selprop) posted RM31.6 million in net profit for 3QFY11 ended July 31, 319% higher than RM7.5 million in the same period last year, due to the recognition profit on the sale of stage two apartments in Australia amounting to RM11.2 million and a foreign exchange gain of RM6 million.

HONG KONG: Hong Kong is the most expensive city in the world when it comes to billionaire trophy homes, according to a report by Savills, the international property consultant.

"Billionaire properties in Hong Kong average £6,700 (RM33,444) per sq ft," said the report, which calculates a price index of homes for the super rich in 10 top cities around the world.

KUALA LUMPUR: Kenanga Wholesale City (KWC), touted as Malaysia’s first fashion wholesale mall, will commence business come mid-October. The 22-storey KWC is developed on a 3.2-acre (1.3ha) site along Jalan Kenanga in the Pudu area in Kuala Lumpur.KWC has a net lettable area of 500,000 sq ft and a gross development value of RM1 billion.

KUALA LUMPUR: Leading players in the property industry gathered last night to honour the country’s top developers at The Edge Property Excellence Awards 2011.

At the ceremony held annually, the awards are The Edge Top Property Developers Awards (TPDA), The Edge-PEPS Value Creation Excellence Award and The Edge-PAM Green Excellence Award.

KUALA LUMPUR: Acting on the advice of the Fire and Rescue Services Department and in the interest of public safety, the management of Empire Shopping Gallery has taken the decision to halt all operations following a gas explosion early Wednesday morning, Sept 28, that caused extensive damage to the mall's lower floors and injuring four people.