KUALA LUMPUR: Faber Group Bhd (Faber) has lost contracts worth about RM184 million in Abu Dhabi after the Department of Municipal Affairs, Western Region Municipality (WRM), Emirate of Abu Dhabi opted not to renew the contracts.

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

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.

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.

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.

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%.

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.

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.

KOTA KINABALU: The Karambunai Econature Integrated Resort is expected to create 15,000-20,000 jobs in Sabah, said Chief Minister Datuk Seri Musa Aman on Wednesday, Jan 12.

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.