KUALA LUMPUR: Gula Perak Bhd (GPB) entered into a Sales & Purchase agreement to sell The Dynasty Hotel in Kuala Lumpur, and The Empress in Sepang, Selangor for a sum of RM193.9 million to Time Glory Investment Ltd, it announced in a filing with Bursa Malaysia on Monday, June 28.

KUALA LUMPUR: Allegations that Malaysia sold away its railway land in Tanjung Pagar to Singapore are not true, the Dewan Rakyat was told on Monday, June 28.

Deputy Foreign Minister Datuk Richard Riot Jaem said KTM Berhad's (KTMB) land there was leased to the Federated Malay States by the Straits Settlement government for the purpose of rail services on Oct 25, 1918.

KUALA LUMPUR: Several property and real-estate development-based companies engaged in share buy-back exercises on Monday, June 28, according to separate filings to Bursa Malaysia.

Eastern & Oriental Bhd bought back one million ordinary stock units of RM1 each for RM 926,948.21, while Glomac Bhd bought back 23,700 ordinary shares of RM1.00 each for RM30,080.13.

KUALA LUMPUR: Property developer WCT Land Sdn Bhd, a wholly owned subsidiary of WCT Berhad, is scheduled to open its first hotel in Bandar Bukit Tinggi, Klang.

KUALA LUMPUR: A proposed disposal of freehold property by Ho Hup Construction Company Bhd was not carried out following a decision based on a poll carried out by shareholders at an extraordinary general meeting held on Monday, 28 June, 2010, according to a filing on Bursa Malaysia on the same day.

HONG KONG: New mortgage loans approved in Hong Kong in May rose by 34.3% from a year earlier and increased 0.1% in value terms from April, figures from the Hong Kong Monetary Authority (HKMA) showed.

New loans approved in May totalled HK$37.8 billion (RM15.6 billion), the HKMA said on Monday, June 28.

Gamuda

9M10 below expectations

SINGAPORE: Singapore welcomed 30.3% more visitors in May than the same month a year ago as the city-state's two new casinos helped draw in tourists.

The Singapore Tourism Board said on Monday that 946,000 people visited the city-state last month, up from 939,000 in April and 726,000 in May 2009.

BEIJING: Mainland authorities scrambled on Sunday to repair water defences shattered by relentless rain, state media said, after flood-related disasters claimed the lives of 235 people this month.

KUALA LUMPUR: With spacious rooms, the availability of round the clock hours services and a similarity to the modern home lifestyle, it is no surprise that serviced apartments will be one of the fastest growth markets in Malaysia.

Frasers Hospitality Pte Ltd chief executive officer Choe Peng Sum said many players including hotel owners see the opportunities offered in this market.