PROPERTY SECTOR
My First Home Scheme launched

• It was reported in the media today that a scheme ‘My First Home Scheme’ has been launched officially by the Prime Minister. Recall that this scheme was announced during the
Budget 2011 in October.

KUALA LUMPUR: Datuk Seri Najib Razak launched the My First House Scheme here on Tuesday, Mar 8, and urged the financial institutions involved to make procedures as simple as possible for buyers.

KUALA LUMPUR: WCT Bhd has sold 70% of its 103 double-storey semi-detached houses called Gardia in its Bandar Parklands Bukit Tinggi 3 township in Klang. The houses were launched at the end of February, and sit on 98 out of 427 acres that the Bandar Parklands Bukit Tinggi 3 township is made up of.

TOKYO: Niseko Village, the winter resort in Hokkaido, northern Japan which YTL Corp Bhd acquired last April, will be turned into a sophisticated and vibrant all-year-round tourist destination under a 10-year master plan, said managing director Tan Sri Francis Yeoh.

KUALA LUMPUR: A 15 year-old company can be considered quite young but for GuocoLand China Ltd (GLC), the property arm of the Hong Leong Group in China, it can boast of tremendous success during that short span of time.

KUALA LUMPUR: Ark Resources Bhd registered a net loss of RM51,000 for the fourth quarter ended Dec 31, 2010 (4QFY2010), compared to net profit of RM953,000 the previous year, on the completion and final account of a project it undertaken during the period.

KUALA LUMPUR: i-City in Shah Alam, famed for its LED light displays, has partnered with Nickelodeon SEA, a leading family entertainment brand to provide on-air, online and on-the-ground activities over the next 12-months, it announced on Monday, Mar 7.

HONG KONG: Chiu Mung-ngor and her husband paid US$3.3 million (RM10 million) for their Hong Kong flat in a luxury apartment block in 2009, lured into buying it partly by its view of the harbour.

Sunway Holdings
Taking On Legoland

THE BUZZ

Last Friday, Sunway announced that it had won a RM258m job for the construction of the Legoland Theme Park (Package 4) in Iskandar, Johor. The project is scheduled for completion on 2 June 2012.

OUR TAKE

TAIPEI: Taiwan stocks closed 0.8% lower on Monday, Mar 7, pressured by construction and transport shares on a planned new property tax and high oil prices.

Fund managers said the main share index would continue to face resistance at the 8,900-point level this week on concerns over high oil prices.