KUALA LUMPUR: Tan Boon Chuan, an executive director of OSK Property Holdings Bhd, has resigned from his post effective immediately, the group announced to Bursa Malaysia on Friday, Mar 11.

Tan, 50, had joined group subsidiary OSK Properties Sdn Bhd in 2004 as chief operating officer.

He was previously a business development director in Citraprop Sdn Bhd for two years.

KUALA LUMPUR: CB Richard Ellis (Malaysia) (CBRE) reported that the hospitality industry, especially 5-star hotels, have recovered in 2010 with full-year occupancy for 5-star hotels reaching 68%, up from 2009s 58%, it said in its 4Q Marketview Kuala Lumpur Hospitality report on Friday, Mar 11.

KUALA LUMPUR: CB Richard Ellis (Malaysia) (CBRE) reported that 2010 will see increase retail activity in its 4Q Marketview Kuala Lumpur Retail report released on Friday, Mar 11.

KUALA LUMPUR: CB Richard Ellis (Malaysia) (CBRE) reported growth in the residential property market for 2011 although it will not replicate 2010 levels in its 4Q Marketview Kuala Lumpur Residential report on Friday, Mar 11.

KUALA LUMPUR: CB Richard Ellis (Malaysia) (CBRE) notes that new office supply in the coming years will make it a tenants market, in its 4Q2010 Marketview Kuala Lumpur Office report released on Friday, Mar 11.

Additionally, CBRE expects occupancies and rents will remain flat or decline slightly during 2011 before undergoing even greater downward pressure in 2012-13.

NEW YORK: United States billionaire Donald Trump will build two 40-storey skyscrapers in Georgia worth US$300 million, according to an investment agreement signed on Thursday, Mar 10 on the sidelines of the visit of Georgian President Mikhail Saakashvili to the United States.

KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has withdrawn the MARC-1ID(bg)/AA-ID(bg) ratings on Mulpha International Bhd's RM75 million Bank Guaranteed MUNIF with immediate effect.

The rating withdrawal was following the cancellation of the programme as confirmed by the facility agent, AmInvestment Bank Bhd, it said in a statement on Friday, Mar 11.

KOTA KINABALU: A special task force will be set up to deal with abandoned housing projects nationwide, Deputy Housing and Local Government Minister Datuk Lajim Ukin said.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd (SPNB) said the costs for the extensions of the Kelana Jaya Light Rail Transit (LRT) line and the Ampang LRT line would not exceed the RM7 billion budget.

BEIJING: China's real estate investment rose 35.2% in the first two months from a year ago, up from a 33.2% pace for all of 2010, the National Bureau of Statistics (NBS) on Friday, Mar 11.