KUALA LUMPUR: Paramount Corp Bhd, via its subsidiary Omni Assets Sdn Bhd (OASB), has entered into a sale and purchase agreement with Cyberview Sdn Bhd and Setia Haruman Sdn Bhd for the purchase of a 50.01-acre (20.2ha) parcel of land in Cyberjaya for RM78.42 million cash.

KUALA LUMPUR: Khind Holdings Bhd has proposed to acquire a parcel of freehold land measuring 65,340 sq ft in Setia City, Precint 1, a commercial development in Shah Alam, from S P Setia Bhd's unit Bandar Setia Alam Sdn Bhd for a total of RM7.84 million or RM120 per sq ft.

KUALA LUMPUR: Bursa Securities has approved the admission of the official list and the listing and quotation of the entire 2,680,112,300 units of Sunway Real Estate Investment Trust (REIT) on the REIT sector on the Main Market.

Sunway REIT is set to become Malaysia’s largest when it is listed in 3Q2010.

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak announced that MCA's secretary-general Datuk Seri Kong Cho Ha will be replacing former MCA president Datuk Seri Ong Tee Keat as the Transport Minister in a cabinet reshuffle on Tuesday, June 1.

Kong's post as the Housing and Local Government Minister will be taken over by Datuk Wira Chor Chee Heung.

SHANGHAI: China's introduction of the recent real estate control regulations and policies, will not affect Malaysian conglomerate, Hong Leong Group's property investment projects in China.

KUALA LUMPUR: The long overdue opening of a ramp road leading to the Penchala Link near Mont’Kiara and Desa Sri Hartamas in Kuala Lumpur will finally open this Thursday June 3.

SHANGHAI: China's soaring house prices are like an "enemy within", the spokesman for the country's small businesses said, calling for Beijing to intensify its crackdown on the "evil housing industry".

BEIJING: China is preparing to levy a general tax on commercial property on a trial basis in two central provinces, the official China Securities Journal reported on Tuesday, June 1.

KUALA LUMPUR: In mid-May, Bank Negara Malaysia (BNM) revised its key Overnight Policy Rate (OPR) by another 25 basis points, following a rate hike by the same quantum earlier this year.

Another Win
THE BUZZ

Yesterday Sunway announced on Bursa that it has been awarded a RM209.6m contract from SunCity (NR). The job involves the earthworks, pilling and main building works for a  proposed mixed development by SunCity in Kuala Lumpur.