SYDNEY: Australia raised its benchmark interest rate by a quarter percentage point for a second month, becoming the first nation to increase borrowing costs twice this year as the global economy recovers.

KUALA LUMPUR: Property developer Sunrise Bhd and financial services provider CIMB Group have launched a joint customer loyalty scheme that leverages on each other’s branding prowess to secure recurring business from existing clients.

KUALA LUMPUR: Housing loan rates are expected to trend upwards in the not-so-distant future as the banking industry moves towards risk-based pricing in determining interest rates that are more sustainable for the industry.

KUALA LUMPUR: Land and General Bhd (L&G) has entered into a joint-venture (JV) agreement with Mayland Parkview Sdn Bhd, a company linked to its major shareholder, to develop a piece of land in Ampang that the JV will acquire from a firm controlled by former minister Tan Sri Abdul Kadir Sheikh Fadzir.

KUALA LUMPUR: The proposed development of the Icon@Mont Kiara project, which would have been undertaken by Mah Sing Group Bhd's unit, has been terminated following the non-fulfillment of conditions with the purchaser Prompt Symphony Sdn Bhd.Mah Sing on Tuesday, Nov 3 that its unit Maxim Heights Sdn Bhd had received written notice from Prompt Symphony about "non-fu

KUALA LUMPUR: The proposed development of the Icon@Mont’Kiara commercial project, which would have been undertaken by Mah Sing Group Bhd’s unit, has been terminated following the non-fulfillment of conditions with the purchaser Prompt Symphony Sdn Bhd.

KUALA LUMPUR: Developer Paramount Corp Bhd (Paramount Group) has entered into a conditional Sale Agreement for the acquisition of a 21.7-acre freehold vacant tract close to the Bukit Jelutong/Shah Alam interchange of the New Klang Valley Expressway (NKVE) in Selangor with The Titular Superior of the Brothers of Saint Gabriel, founder of The Monfort Boys Town in Shah Alam, for RM62.4 million, or

KUALA LUMPUR: Faber Group Bhd (Faber) announced its 3Q23009 results year-to-date Sept 20, 2009, with RM509.2 million in revenue and profit before tax (PBT) of RM74.6 million.

KUALA LUMPUR: Construction-related Bina Puri Holdings Bhd has accepted the letter of award to construct a 7-storey apartment in Kota Kinabalu, Sabah, for a contract sum of RM19.7 million from Arkitek Oma Sdn Bhd.

LONDON: Lloyds Banking Group Plc, the UK’s largest real estate lender, said that the current increase in UK property prices is unsustainable, as it announced plans for a £21 billion (RM117.75 billion) rights offering.

Values of UK homes, shops, offices and warehouses will stagnate next year, the bank forecast, as it predicted its own provisions would be “significantly lower” in 2010.