PUTRAJAYA:  The real property gains tax will now only be applicable to properties that are sold within five years of their purchase, Prime Minister Datuk Seri Najib Tun Razak announced Dec 23.

DUBAI: The Malaysia External Trade Development Corporation (Matrade) is taking steps to help some Malaysian companies overcome problems of late payments from Dubai developers and clients.

KUALA LUMPUR: Sunway Developments Pte Ltd, a unit of Sunway Holdings Bhd, has entered into a joint-venture agreement with Hoi Hup Realty Pte Ltd to set up Hoi Hup Sunway Property Pte Ltd.

The proposed joint venture would undertake a residential property development project on a parcel of freehold land in Singapore.

PASIR PUTEH: Contractors are unable to complete the construction of 16 new school buildings in Kelantan before the start of the 2010 school session on Jan 3, Deputy Education Minister Dr Mohd Puad Zarkashi said Dec 23.

KUALA LUMPUR: Zecon Bhd has inked a sale and purchase agreement with Effiway Corporation Sdn Bhd to acquire a parcel of 2,340 sq m freehold land together with a nine-storey building in Section 5 KTLD, Jalan Satok, Kuching for RM13.2 million.

KOTA BARU: A Universiti Malaysia Kelantan principal fellow today pointed out that the "cut and paste" method was being used to portray the arts in buildings in Kelantan.

JAKARTA: Two people were killed and scores feared buried under the rubble when an extension building to a shopping mall in Tanah Abang collapsed Dec 23.
The Malaysian embassy here was closely monitoring search and rescue work at Tanah Abang, a popular shopping area for Malaysians visiting the Indonesian capital.

BEIJING: China's steel industry association lauded the achievements of the sector after a year spent berating its members for ignoring market signals and "blindly expanding capacity".

KUCHING: The Sarawak Tourism and Heritage Ministry will assist shop owners in Gambier Street here, whose pre-war premises were gutted by last night's fire, to renovate the buildings as part of the Kuching Waterfront
expansion project.

PETALING JAYA: Island & Peninsular Group Sdn Bhd (I&P Group), the master developer of Bandar Kinrara Puchong, Selangor has launched an exclusive 8-unit semidee project (pictured) dubbed Awana8 at Phase 5A3 of the township.