BEIJING: Surging housing prices and a severe drought in southwest China may prompt the central bank to raise interest rates as early as this month, a senior government economist said on Friday.

KUALA LUMPUR: Selangor Properties Bhd (Selprop) is awaiting approvals from the authorities for its large-sized condominium project on Jalan Batai in Damansara Heights, one of the exclusive and matured addresses in the city.

The property is located along Jalan Datuk Sulaiman within the sought-after township of Taman Tun Dr Ismail

KUALA LUMPUR:  If you wish to sell your property in a hot market, how do you ensure that you get the best out of the deal?

• The Federal Government is studying a proposal to extend the new Light Rail Transit (LRT) line between Kota Damansara to Cheras to Sungai Buloh and Kajang, said Bernama news agency in a report yesterday. Additional routes are:

KUALA LUMPUR: Sunway City Bhd (SunCity) jumped six sen or 1.62% to close at RM3.76 yesterday on the company’s real estate investment trust (REIT) plan, which received positive response from analysts.

The counter rose to an intra-day high of RM3.82, its highest level in two years.

Price: RM0.845
Recommendation: Withheld

Sunway City

Unveiling hidden treasures. The injection of RM3.5b assets into the proposed Sunway REIT (SREIT) is expected to provide a one-off gain of 61sen/sh and upstream RM1.17b (RM2.49/sh) in net cash to SCity.

With expected net cash of RM1.00/sh post-SREIT listing, SCity may pay special net dividends of 30-35sen/sh and save the rest for growth.

KUALA LUMPUR: Ireka Corp Bhd’s unit has secured a RM36.23 million contract to build an interchange for the proposed Bandar Indahpura, Kulai-Second Link Expressway in Iskandar Malaysia. The news lifted Ireka’s share price to 84.5 sen, up 6.3% or five sen yesterday.

BEIJING: China's agency overseeing big state-owned businesses has received plans from 78 state companies spelling out how they intend to sell out of the nation's heady property market, a Chinese newspaper said on Friday.

HONG KONG: Shanghai may step up efforts to rein in surging property prices by taxing investors who own more than one flat.

The tax is likely to target investors who owned several luxury homes that they have either leased or left vacant to bet on capital appreciation, analysts say.