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More MSC Malaysia Cybercentres expected by year-end

KUALA LUMPUR: Two more buildings are expected to be awarded with the Multimedia Super Corridor (MSC) Malaysia Cybercentre status by end-2010, according to Datuk Badlisham Ghazali, CEO of the Multimedia Development Corporation (MDeC).

Developer pounces as new law takes effect

HONG KONG: It may not be The Peak but for tenants of a run-down 57-year-old low-rise in North Point it's home. Now under a new rule on property acquisitions that is about to change.

Shanghai suspends loans for home decorations

SHANGHAI: Shanghai has temporarily suspended loans for home decorations under the city's housing fund programme to clean-up unscrupulous practices by some estate agencies, reported Wenhui Daily citing sources from the Shanghai Provident Management Centre.

China's July FDI increase to 29%

BEIJING: China saw its foreign direct investment (FDI) for July increased by 29% from the previous year to US$6.92 billion (RM21.69 billion), making it the fourth consecutive month that China has experienced an FDI increase of more than 20%, according to news portal Chinadaily.com.

S.Korea GNP leader urges housing market measures

SEOUL: South Korea's ruling party leader on Thursday, Aug 19 urged the government to quickly adopt measures aimed at reactivating housing transactions, which have slumped due to uncertain economic prospects and strict regulations.

Obama seeks new design for housing, Fannie/Freddie

WASHINGTON: The US government’s role in housing finance should undergo “fundamental change,” but it should still provide some guarantees in the mortgage market, Treasury Secretary Timothy Geithner said on Tuesday.

Property giant bets on soaring market

HONG KONG: The pause in the property market lasted for just one weekend.

Cheung Kong (Holdings) Ltd, the city’s second-biggest developer, bought two sites at auction on Tuesday, in Ho Man Tin and Hung Hom, for HK$7.61 billion (RM3.09 billion) — at least 20% higher than the market forecast.

KLK’s 9MFY10 earnings almost double to RM701m

KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) posted a net profit growth of 28% in its third quarter ended June 30, 2010 (3QFY10) to RM243.5 million from RM17.86 million a year earlier on the back of higher crude palm oil (CPO) and rubber prices, and improved performance from the manufacturing and retailing sectors.

Jetson’s termination of JV a sign of brewing tussle

KUALA LUMPUR: Kumpulan Jetson Bhd’s subsidiary Jetson Construction Sdn Bhd has terminated its joint venture agreement with China State Construction Engineering (Hong Kong) Ltd which was entered into to build Platinum Park here.