KUALA LUMPUR: Unfavourable macro dynamics such as high crude oil prices may weigh on construction companies in the second half of this year as players contend with costlier operating expenses. This could reverse the trend in the first quarter of 2011, as well as the preceding third and fourth quarters of 2010 where local contract margins had actually improved.

KUALA LUMPUR: Hua Yang Bhd's wholly-owned unit Prop Park Sdn Bhd has won an auction bid to acquire a 1.5ha tract in Shah Alam for RM13 million cash. The purchase price translates into slightly less than RM80 per sq feet for the leasehold land.

PETALING JAYA: UEM Land Holdings Bhd has set up a wholly-owned subsidiary in Singapore, which is perceived as a move for the property group to undertake development projects across the causeway.

In an announcement to Bursa Malaysia, UEM Land said the new subsidiary called Sunrise MS Pte Ltd, will be a wholly-owned unit of Sunrise Bhd. The latter is a subsidiary of UEM Land.

KUALA LUMPUR: The High Court has ordered the application for stay of execution on the earlier judgment on the joint development agreement (JDA) on the 60-acre tract owned by Ho Hup Construction Co Bhd to be dimissed.

KUALA LUMPUR: Amcorp Properties Bhd is selling London-based real estate investment firm for RM134 million — a divestment that would put the company in net cash position.

Gamuda Bhd (June 20, RM3.74)

ALOR SETAR: The Rural and Regional Development Ministry has allocated RM7.8 million to Lembaga Kemajuan Wilayah Kedah (KEDA) to build houses under the Program Bantuan Rumah (PBR) in Kedah.

Keda chairman Datuk Paduka Ahmad Bashah Md Hanipah said through the allocation, 173 affordable houses at RM33,000 each would be build while 228 houses would be upgraded at a cost of RM11,000 each.

BEIJING: China will neither step up or relax current property tightening measures unless home prices suddenly surge or fall sharply, the official Financial News said in a commentary piece on Monday, June 20.

HONG KONG: Hong Kong's property market is "unusually strong", with the government ready to introduce more drastic measures if necessary, Financial Secretary John Tsang said on Monday, June 20, pushing real estate shares to the lowest in almost a year.

KUALA LUMPUR: The Real Estate and Housing Developers' Association of Malaysia (Rehda) has called for the implementation of the International Financial Reporting Interpretations Committee 15 (IFRIC 15) to be postponed further, citing a need to resolve issues affecting its application on property developers here.