KUALA LUMPUR: Malaysia will need to plant seven million trees to every one million of its city population in order to absorb at least 15% of the greenhouse gases released.

Deputy Tourism Minister Datuk Dr James Dawos Mamit said to date, on average a Malaysian city could only absorb up to 1.5% of the gases.

KUALA LUMPUR: Hap Seng Consolidated Bhd plans to spend RM460 million in capital expenditure (capex) for its six divisions this year, said its group managing director Datuk Edward Lee Ming Foo.

The divisions are plantations, property investment and development, credit financing, trading of fertilizers and automotive, as well as building materials and stone quarries.

BANGI: The government targets to build 5,692 new houses and restore another 3,454 for the poorest in the country under the Housing Assistance Programme before the year-end.

Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal said of the total figure, 1,618 of the new houses would be built in the peninsula, 2,345 in Sabah and 1,729 in Sarawak.

KUALA LUMPUR: OSK Research Sdn Bhd has maintained its "overweight" call on the property sector.

In a note on Tuesday, June 7, OSK said the biggest gainers from the current upcycle were the mid- to high-end developers, particularly those with focus on developing landed properties and also had significant exposure in high-growth areas.

KUALA LUMPUR: The warrants of Malaysia Building Society Bhd (MBSB) rose 22.5 sen to 72.5 sen in very active trade in the morning session on Tuesday, June 7.

MBSB's additional 506.42 million new ordinary shares of RM1 each issued pursuant to the rights issue with 506.42 million warrants were listed on Tuesday.

BEIJING: China should raise interest rates further to help rein in the property market, a top Chinese banker said in comments published on Tuesday, June 7, amid talk of an imminent rate rise.

KUALA LUMPUR: The attractiveness of Asian countries including China, India and Malaysia as global retail havens slipped this year as South American entities gained prominence as the top favourite markets in retail expansion.

Aeon Co (M) Bhd (June 6, RM6.43)

Construction sector

KUALA LUMPUR: Conglomerate UEM Group Bhd is still weighing options for its 45% stake in information and communications technology firm (ICT) Time Engineering Bhd.

According to UEM Group managing director and CEO Datuk Mohd Izzadin Idris, the company will "thoroughly and comprehensively" look into the matter. He said this amid market talk that UEM may dispose of its stake in Time.