SHANGHAI: China's banking regulator has told banks to control new lending to local governments, and closely monitor the health of property developers, the official Shanghai Securities News reported on Wednesday, Feb 16.

AMSTERDAM/NEW YORK: CB Richard Ellis Group (CBRE) struck a deal to buy most of the real estate investment management business of Dutch financial company ING Group NV for US$940 million (RM2.87 billion), making it the world's biggest real estate investment manager.

LONDON,: Real estate company British Land posted 25% growth in third-quarter net asset value (NAV) and expects future buying opportunities at more realistic prices as Britain experiences a muted economic rebound.

SINGAPORE: Former CapitaLand retail chief Pua Seck Guan and Singapore's Kum family are preparing to raise around S$1.5 billion (RM3.57 billion) via two property trusts, sources said on Tueday, Feb 15.

Investment Highlights

KUALA LUMPUR: Wawasan TKH Holding Bhd disposed of a freehold 5-acre tract, along with a building, to Divine Lotus Sdn Bhd for RM5.563 million, the group announced on Monday, Feb 14.

The tract is located on 13th Mile Kepong Road in Kuala Selangor. The group said that the sale will enable the potential value of the vacant land to realised for cash consideration.

KUALA LUMPUR: IGB Corporation Bhd entered into a Heads of Agreement (HOA) with its 75%-owned subsidiary KrisAssets Holdings Bhd for the disposal of 100,000 ordinary shares at RM1.00 each, representing the entire issued and paid-up ordinary share capital in Mid Valley City Gardens Sdn Bhd (MVCG) to KrisAssets for a cash consideration yet to be determined, it announced on Monday, Feb 14.

KUALA LUMPUR: IGB Corporation Bhd achieved an increase in net profit by 70.5% to RM53.09 million compared to RM31.13 million a year ago, the group revealed in its 4Q2010 financial statements released on Monday, Feb 14.

The group's revenue increased by 29.2% to RM214.9 million from RM166.3 million the previous year.

MRT Open Day Highlights

• We attended the MRT open day which was held in Mid Valley Convention Centre by Suruhanjaya Pengangkutan Awam Darat (SPAD). The open day was held to disseminate
more information on the MRT project and also to gather the public’s feedback on it.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd (Prasarana) is firming up its plans to develop property projects along the mass rail transit (MRT) alignments which would allow the government to directly benefit from the expected surge in property value. Prasarana is a government-owned company which owns assets and provides public transport services in the country.