KUALA LUMPUR: Malaysian Resources Corp Bhd plans to undertake a renounceable rights issue to raise up to RM566 million, of which RM380 million would be used as capital expenditure for future expansion.The company said on Thursday, Nov 5 the issue price would be RM1.172 per rights share, a discount of about 9.8% to the theoretical ex-rights price of MRCB shares of RM1.30,based on the three-month

KUALA LUMPUR: The recently completed Pavilion Residences Tower 1 in Bukit Bintang, Kuala Lumpur has already been 50% sold months prior to its launch on Nov 5. Comprising 163 serviced apartment units, Tower 1 offers 43 floors of 6-star living.

CYBERJAYA: The landowner of Cyberjaya, Cyberview Sdn Bhd, plans to invest RM58 million over the next two years to expand its district cooling system, said managing director Datuk Redza Rafiq.

NEW YORK: Store rents in Manhattan fell in the third quarter in seven of 10 districts as unemployment and the recession cut spending.

PETALING JAYA: The Penang state government is looking to invite proposals for the development of five parcels of land on the island and on the mainland, according to a CIMB Research report on Nov 5.

NEW DELHI: DLF Ltd, India’s biggest developer, expects demand for offices to revive after growth in Asia’s third-largest economy accelerates to at least 7%, Executive Director Rajeev Talwar said.

HONG KONG: Jian Sihua is counting on the Hong Kong government to create an opening for him in a property market where prices have climbed 28% this year.

DUBLIN: International funds are seeking to buy offices and stores in Ireland, signalling that the commercial real estate market may be close to the bottom, according to the head of a group representing the country’s biggest investors.

SAN FRANCISCO: Global commercial real estate values may drop 50% from the historic highs reached in 2007, said Jeremy Newsum, former chief executive officer of the UK’s Grosvenor Group Ltd and chairman of the non-profit Urban Land Institute.

NEW YORK: Kimco Realty Corp, the largest US strip mall owner and developer, reported a 36% drop in quarterly funds from operations, hurt by lower occupancy and stores vacated by bankrupt retailers.