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Wing Tai to acquire land for RM75m

KUALA LUMPUR: Wing Tai Malaysia Bhd (Wing Tai) is acquiring a freehold tract in Kuala Lumpur for RM75 million for future residential development.

13 January, 2011
KL 4Q2010 property market ended with mixed performance

KUALA LUMPUR: The outlook for the office sector in Kuala Lumpur is expected to remain soft in favour of tenants over the next few years, with 13.2 million sq ft of new office space in the pipeline between 2011 and 2013, according to real estate consultancy DTZ Nawawi Tie Leung Sdn Bhd.

13 January, 2011
US 2010 home foreclosures top one million for first time

WASHINGTON: Banks seized more than a million US homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, a leading firm said on Thursday, Jan 13.

13 January, 2011
Brisbane avoids worst in floods, sees years of rebuilding

BRISBANE: Flood water in Australia's third-biggest city peaked below feared catastrophic levels on Thursday, Jan 13 but Brisbane and other devastated regions faced years of rebuilding as a fresh flood threat loomed with a cyclonic storm building off the coast.

13 January, 2011
PNB ceases to be major shareholder in Mah Sing

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has ceased to be a substantial shareholder in property developer Mah Sing Group Bhd, after it disposed of 1.45 million shares in the company on Jan 6, thereby reducing its interest to less than 5%.

13 January, 2011
AP Land still lower than bidding price

KUALA LUMPUR: Shares in Asia Pacific Land Bhd (AP Land), a property to plantations group, settled at 42.5 sen on Wednesday, Jan 12 despite receiving an offer from Low Chuan Holdings Sdn Bhd to buy its entire business for the equivalent of 45 sen a share.

13 January, 2011
Low Yat group to buy AP Land assets for RM305m

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) has received an offer from major shareholder Low Chuan Holdings to buy its entire assets and liabilities for RM305.2 million or 45 sen per share.

Low Chuan Holdings, which is the investment vehicle of the Low Yat group, holds a 33.98% stake in AP Land, which is involved in plantation and property development.

13 January, 2011
M'sian firms urged to pull resources to win Qatar contracts

DUBAI: Malaysian construction companies and service providers should consider banding together, if they are keen on securing projects related to Qatar's winning bid to host the FIFA World Cup 2022.

Malaysia External Trade Development Corporation (Matrade) senior trade commissioner Datuk Dzulkifli Mahmud said Malaysians had to pool resources and go to Qatar as consortiums.

12 January, 2011
Perda builds 4,750 houses for low, middle income groups

BUTTERWORTH: The Penang Regional Development Authority (Perda) will build 4,750 houses for those in the low and middle income groups in the state under the 10th Malaysia Plan.

Chairman Datuk Azhar Ibrahim said the houses comprised 739 low-cost units, medium low cost (771) and medium cost (3,240).

12 January, 2011