HONG KONG: Hong Kong on Tuesday, June 8, auctioned a piece of land for HK$10.9 billion ($4.66 billion), beating expectations and fuelling concern that the island's property market could still face overheating despite government measures.

SANDAKAN: Two hundred and eighteen families in Sungai Batang, here, who do not own any land and are living on government land reserve will have their own home following the opening up of a new settlement in the area.

KUALA LUMPUR: Sunway City Bhd (SunCity), through its subsidiary Sunway Damansara Sdn Bhd, has launched a gated and guarded project, Sunway Rymba Hills in Sunway Damansara.

The low-density residential development project has a gross development value (GDV) of RM270 million.

KUALA LUMPUR: Builder Mudajaya Group Bhd is looking for more new profitable projects both locally and overseas, and has set a target to add at least RM1 billion a year to its order book.

HONG KONG: Hong Kong received on Tuesday, June 8 an opening bid of HK$6.8 billion (US$871.4 million) in its third land auction this year, after the selling prices of the previous two fell short of expectations.

Construction sector
Maintain overweight: The award of the Semantan intake and pumping station works is a positive indication that works are rolling in, albeit after a long wait of 13 months. We believe the award for other upstream packages will follow.

KUALA LUMPUR: Dijaya Corporation Bhd has aborted its plan to acquire the remaining 75% of a Mongolian property development holding company, Transglobal Ltd (TGL), and instead is selling a 25% stake it already owned in the latter.

KUALA LUMPUR: Sime Darby Property Bhd has been selected as the inaugural recipient of Frost & Sullivan's 2010 Malaysia Green Builder of the Year Award for its best practices in the industry.

KUALA LUMPUR: One of Datuk Wira Chor Chee Heung’s top priority as the new Housing & Local Government (KPKT) Minister is to reduce public complaints against the Ministry and agencies under its purview.

KUALA LUMPUR: RAM Ratings has reaffirmed the enhanced AAA(bg)/P1(bg) ratings of E&O Property (Penang) Sdn Bhd (EOPP)'s RM350 million Bank-Guaranteed Commercial Papers/Medium-Term Notes Programme (CP/MTN).

"The long-term rating has a stable outlook," the rating agency said in a statement on June 7.