CapitaMalls Malaysia Trust (June 15, RM1.19)
Maintain buy at RM1.17 with target price of RM1.27: We are positive on CMMT's latest RM310 million East Coast Mall acquisition given that it is yield accretive and attractive in pricing. More importantly, it would enhance our 2012-13 earnings forecasts by 10%-11%.

KUALA LUMPUR: Hyatt Hotels Corporation announced on Thursday, June 16 that a Hyatt affiliate has entered into an agreement with Bahagia Investment Corporation (Malaysia) Sdn Bhd to manage Grand Hyatt Kuala Lumpur. The hotel is under construction, and is expected to open in 2012.

KUALA LUMPUR: Shareholders of Sunway Holdings Bhd and Sunway City Bhd (SunCity) approved the proposed disposals of the two companies' asset and liabilities to Sunway Bhd at their EGMs on Wednesday, June 15.

The approvals would pave the way for the merger of the assets under a larger company which would be slated for listing in the third quarter of this year.

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) the master developer of Bandar Malaysia has signed several agreements on Wednesday, June 15, with various government authorities to turn the old Sungai Besi military airport into a massive mixed-development.

KUALA LUMPUR: Australand has acquired a 5.5ha site in Clemton Park in Sydney, 15km south of Sydney's CDB, which is slated for a joint-venture with LaSalle Asia Opportunity Fund III LP, a fund managed by LaSalle Investment Management. The site has a masterplan approval for the development of a mixed use medium density residential project called Clemton Park Village.

KUALA LUMPUR: Dijaya Corp Bhd's Tropicana Grande luxury condominium development recently picked up two accolades at the 2011 Asia Pacific Property Awards and is now in the running for the World's Best Title at the International Property Awards.

KUALA LUMPUR: Credit Suisse Research said 79% of the property stocks listed on Bursa Malaysia are below book value with Pasdec Holdings Bhd is trading at the steepest discount of 76% while S P Setia Bhd is trading at the highest at 235%.

KUALA LUMPUR: Sunway City Bhd (SunCity) cancelled its RM500 million Islamic debt notes (2007-2022) ahead of the scheduled maturity date of Oct 8, 2022.

RAM Rating Services Bhd said on Wednesday, June 15 it had received confirmation about SunCity's cancellation of the the Murabahah commercial papers/medium term notes programme (2007/2022) (CP/MTN).

WILMINGTON (Delaware): Hundreds of Florida homeowners suffering with tainted Chinese drywall will share US$55 million (RM166.65 million) in a deal that also accuses a global drywall maker of lying about the product's safety, according to court documents.

SHENZHEN: Transaction costs on sales of flats in Shenzhen could rise next month when the municipal government begins levying an alternative tax aimed at tackling sellers evading taxes on gains from their flat sales.