KUALA LUMPUR: Mudajaya Group Bhd will jointly undertake and complete the Boulevard Plaza in Putrajaya, with Bina Rezeki Sdn Bhd.

In a filing to Bursa Malaysia on Dec 15, the construction firm said the joint venture has on Dec 15 received a letter of intent from Boulevard Plaza Sdn Bhd for the design and construction of the Project for a total consideration of RM241.3 million.

KUALA LUMPUR: Kuwait Finance House (Malaysia) Bhd has called off the deal to purchase 50% of Menara YNH enbloc from YNH Property Bhd.

In a filing to Bursa Malaysia on Dec 15, YNH said it had been notified in writing by Kuwait Finance House on Dec 15 that the latter will no longer be proceeding with the formalisation of the sale and purchase agreement dated Jan 11 last year.

KUALA LUMPUR: Mah Sing Group Bhd sold the 7-storey Apex Tower in Southgate development, Sungai Besi to Taiwanese Chen Ho-Yuan for RM63.1 million.

KUALA LUMPUR: OilCorp Bhd has disposed of 343.53-acre worth of leasehold land in Klang, Selangor, for RM4 million.

Its subsidiary, Anjur Vista Sdn Bhd, has entered into a sale and purchase agreement with Logiston Sdn Bhd for the disposal of the land, in which part of the property covering an area of 107.21 acres has been approved for a commercial and resort development.

KUALA LUMPUR: Mutiara Goodyear Development Bhd posted lower net profit of RM3.33 million in its second quarter ended Oct 31, 2009 (2QFY2010), from RM5.5 million a year earlier, despite higher revenue.

KUALA LUMPUR: Berjaya Land Bhd posted net profit of RM15.16 million in its second quarter ended Oct 31, 2009 (2QFY2010), compared with a net loss of RM48.5 million the previous year despite lower revenue.

KLANG: The Sultan Suleiman building here has been declared a national heritage, making it the first heritage building in Selangor to be given the status.

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, attended the ceremony held in the compound of the building here on Dec 15.

KUALA LUMPUR: Crest Worldwide Resources Sdn Bhd entered into a strategic partnership with Asian Finance Bank Bhd (AFB) on Dec 15 to promote Crest Sultan Ismail.
This partnership between the project developer and the bank will see AFB acting as the global marketing  representative for Crest Worldwide, promoting the mixed development 

HONG KONG: The improvements made by eight major Chinese property developers to their capital bases and liquidity positions during September – December 2009 with a total raising of HK$38.5 billion (US$4.9 billion) through IPOs on the Hong Kong Stock Exchange may be short-lived, says Moody’s Investor Services.

SINGAPORE: ARA Asset Management and Qatar's Regency Group plan to launch the first real estate investment trust (REIT) in Singapore that will comply with Islamic principles, as investor interest returns to the REIT sector.