HONG KONG: HKR International, the developer of Discovery Bay, is turning its attention to the redevelopment of old buildings as it cannot afford to bid for large allotments in government auctions.

The medium-sized developer, claiming it is being forced out by heavyweight players in land auctions, is exploring different opportunities to keep the company growing.

KUALA LUMPUR: Malaysia's first astronaut wants to build an aerospace research centre in Negeri Sembilan. Datuk Dr Sheikh Muszaphar Shukor Sheikh Mustapha said he has found a 20-acre land in the state, not far from Sepang in Selangor, and is currently in the process of meeting potential investors.

PUTRAJAYA: The cabinet committee on broadband chaired by Deputy Prime Minister Tan Sri Muhyiddin Yassin is mulling a move to ensure all new buildings are equipped with broadband infrastructure.

LONDON: Tune Hotels.com has entered into a strategic partnership with London-based Queensway Group Limited to invest in, develop and operate 15 Tune Hotels.com hotels across Greater London by 2017.

KUALA LUMPUR: Amanah Harta Tanah PNB (AHP) has disposed off three parcels of land totaling 467.64 sq m (0.12 acres) in Pahang, Perlis and Kedah, together with the shopoffice units erected on the parcels to Permodalan Nasional Bhd (PNB) for a total RM2.01 million.

KUALA LUMPUR: The New Straits Times Press (Malaysia) Bhd (NSTP) is selling a 5-acre freehold industrial plot in Bukit Jelutong, Selangor for RM15.9 million to Megah Selesa Development Sdn Bhd.

In a filing to Bursa Malaysia on March 4, the publishing house said it has entered into a sale and purchase agreement with Megah Selesa Development on March 3 for the vacant land.

KUALA LUMPUR: Bank Negara Malaysia (BNM) has raised the Overnight Policy Rate (OPR) by 25 basis points to 2.25% at its monetary policy committee (MPC) meeting on Thursday, March 4 as the economic recovery is firmly established.

KUALA LUMPUR: Pasdec Holdings Bhd has formed a 51:49 joint venture company with Perundingan ZNA (M) Sdn Bhd to provide value engineering design services.

KUALA LUMPUR: Sunway SPK Homes is in the midst of obtaining the Malaysian Green Building Index (GBI) certification for its residential project Sunway SPK 3 Harmoni in Bandar Manjalara, Kepong.

HONG KONG: Hong Kong's banking watchdog has acted to head off a damaging mortgage price war by setting guidance floors on mortgage rates, and warning lenders of default risks in a property market correction.