KUALA LUMPUR: Kimlun Corporation Bhd shares advanced on Tuesday, Sept 20 after it secured a RM51 million contract from Nusajaya Lifestyle Sdn Bhd to build a retail mall and ancillary buildings in Medini Iskandar, Johor Bahru.

At 9.25am, Kimlun added three sen to RM1.20 with 80,000 shares traded.

KUALA LUMPUR: Bandar Raya Development Bhd (BRDB) has decided to part with four investment properties, including its crown jewel Bangsar Shopping Centre (BSC), for a preliminary cash consideration of RM430 million with net liabilities of RM484 million to be assumed by the buyer, valuing the entire transaction at RM914 million.

KUALA LUMPUR: More needs to be done to transform Kuala Lumpur into an ecological city, although initiatives towards this are already in place, Kuala Lumpur Mayor Tan Sri Ahmad Fuad Ismail said on Tuesday, Sept 20.

However, it is impossible for Kuala Lumpur City Hall, to undertake this process on its own and needs the community to be engaged in it, he said.

KUALA LUMPUR: The implementation of the legalisation process, the second component of the 6P programme for illegal foreign workers, will be known after it is discussed at the cabinet committee meeting on Oct 4.

KUALA LUMPUR: Cash-rich Oriental Holdings Bhd (OHB) is buying property in Bangkok to expand its hospitality business.

The group entered into a share sale and purchase agreement to buy into Pak Suanplu Holdings Co Ltd, which owns a serviced apartment block in Bangkok, for 1.5 billion baht (RM150 million), OHB said in an announcement to Bursa Malaysia.

Genting Malaysia Bhd (Sept 19, RM3.36)

KUALA LUMPUR/SINGAPORE: Worldwide mainstream house price inflation marginally avoided falling into negative territory, with global house prices rising on average by 0.1% in the three months to June 2011 contributing to an annual growth of 1.7% over a 12-month period, according to the Knight Frank Global House Price Index for the second quarter (2Q) of 2011.

TIANJIN: Tianjin, China's fastest-growing major city, wants to be among the first to use municipal bonds to finance its infrastructure as the country's banks scale back on lending for such projects, the city's vice mayor said.

SHENZHEN: China Vanke, the country's largest property developer, expects its sales growth to slow and margins to come under pressure this year as government efforts to cool the domestic housing market take effect, a top executive said.

BEIJING: China should refrain from boosting credit and fiscal spending again as stimulus measures to avoid fueling inflation and pushing up government debt, Wu Xiaoling, a former deputy central bank governor said in remarks published on Monday, Sept 19.