SP Setia
Testing The Post-Asian Crisis High

SP Setia’s share price looks set to surpass our TP of RM6.58 and test the post-Asian crisis high of 3.1x P/NTA, an indication that investors concur with our robust sector outlook.

KUALA LUMPUR: Kobay Technology Bhd bought freehold land along with a 9-storey hotel called Butterworth Travel Lodge in Butterworth, Penang from Woo Brothers Development Sdn Bhd for RM4.5 million, it announced on Thursday, Jan 6.

HONG KONG: Hong Kong's 40 wealthiest tycoons are all billionaires again, according to the latest Forbes Asia Hong Kong 40 Richest List. The last time all on the list were billionaires was in 2008.

Their collective wealth this year is US$163 billion (RM500.41 billion), compared with US$135 billion last year, but below the 2008 peak of US$178 billion.

IPOH: Mydin Mohamed Holdings Berhad (Mydin) is to open an environment-friendly hypermarket in Bandar Meru Raya in March next year.

Managing director Datuk Ameer Ali Mydin said the RM150 million hypermarket will have solar panels and T5 energy-saving and consumer-friendly lights.

HONG KONG: Residential rents have remained firm despite a big increase in flats available for lease since the government introduced cooling measures to curb property speculation at the end of November.

MIAMI: Bernard Madoff's sister-in-law, whose husband was a top executive at his firm, has put up her luxury home in Palm Beach, Florida, for sale with an asking price of US$6.5 million.

SARAJEVO: Bosnia's international peace overseer suspended a disputed Serb Republic property law on Wednesday, Jan 5 until the top state court rules on whether a region and not the national government can take over state property.

Bosnia remains an international protectorate, divided largely along ethnic lines, 15 years after Europe's worst fighting since World War II ended.

KUALA LUMPUR: Pelangi Publishing Group Bhd acquired three plots of Johor land from Mahabuilders Bhd for RM3.98 million, it announced on Wednesday, Jan 5.

SINGAPORE: Indonesian congolemerate Lippo Group has hired Bank of America's Merrill Lynch to advise on the potential sale of First Media, its cable TV and internet business, sources with direct knowledge of the deal said.

KUALA LUMPUR: Tune Hotels has removed the administration fee it previously used to charge for room reservations across all its existing 12 hotels, effective Wednesday, Jan 5.

"Tune Hotels is removing the RM10.90 admin fee across our entire chain — for good," said its group chief executive officer Mark Lankester in a statement on Wednesday.