BEIJING: China is speeding up the process of launching a property tax, a director of the Ministry of Land and Resources said on March 29.

The official, at a briefing for reporters, stopped short of saying that a tax would be introduced.

Debate on the merits of a tax, which would be levied annually on the value of a property, has intensified in recent months.

KUALA LUMPUR: Lembaga Tabung Haji expects to invest more in real estate in Mecca and Madinah in the next one to two years in its move to keep the cost of Hajj performance at affordable rates.

Its Group Managing Director and Chief Executive Officer, Datuk Ismee Ismail, said the group has been seriously looking at investment opportunities there since 2008.

PETALING JAYA: S P Setia Bhd has acquired a 46,715 sq ft piece of land in Melbourne’s Central Business District (CBD) for RM92.4 million on March 29.

WELLINGTON: Australia’s market for residential mortgage-backed securities is becoming a cheaper source of funding for institutions lending to the housing market, according to Treasurer Wayne Swan.

IJM Land Bhd
(March 26, RM2.30)

KUALA LUMPUR: Kumpulan Europlus Bhd (KEuro), which is 25%-owned by IJM Corp Bhd, has continued the disposal of its shares in Talam Corp Bhd.

According to its latest filings to Bursa Malaysia Securities, KEuro sold off 2.33 million shares on March 9 and 10, 2010, thereby reducing its stake in Talam to 26.52%.

KUALA LUMPUR: After a sluggish first quarter, a likely pick-up in large-scale projects in the second half (2H) and improving margins may invite earnings upgrades and better recommendations for construction counters.

The latest upgrade in the industry was perhaps that for IJM Corp Bhd, the nation’s largest builder in terms of market capitalisation.

Strong rebound

A more exciting future lies ahead

We visited Eastern & Oriental (EOB) recently and took away the following points;

KUALA LUMPUR: Malaysia Pacific Corp (MPC) and Beijing Construction Engineering Co.