News about API

WHILE many continue to be cautious about the property market due to the weak market sentiment over the past two years and while lending guidelines remain tight, investors may be encouraged to know that there are some condominiums selling below RM500,000 that saw double-digit capital growth last year on the secondary market.

PROPERTY market cycles come and go, but with prolonged weakness, the current slowdown could point to a much larger economic issue.

KUALA LUMPUR (June 1): Investment and asset management company MFR Capital Sdn Bhd has purchased a whole floor in Hatten Group's Harbour City Resort Suites project in Melaka comprising 40 units for RM24 million, said Hatten Group head of marketing and sales division Cassandra Tio.

GABUNGAN AQRS Bhd’s partnership with state-linked companies, including Sabah’s Suria Capital Holdings Bhd and Tanah Makmur Bhd — whose major shareholders include Pahang’s crown prince Tengku Abdullah Sultan Ahmad Shah — puts it in a good position to bag future jobs.

SINGAPORE (May 23): CapitaLand Commercial Trust (CCT) has proposed to acquire the remainder 60% interest in Grade A office tower CapitaGreen for S$393 million.

PETALING JAYA (May 19): Property developer Juta Asia Corp and Singapore’s CapitaLand will hold a preview for the genKL condominium development, which comprises 332 units, in Kuchai Lama at Bangsar South this weekend, said CapitaLand Malaysia in a press release on behalf of both parties.

KUALA LUMPUR (May 17): Construction company Zelan Bhd is tendering for contracts worth RM4 billion this year, comprising local infrastructure projects, as the company winds down its overseas operations.

A DIVE into the recently-released National Property Information Centre’s (Napic) 2015 Property Market Report lends an interesting insight into the property buying trend last year.

KUALA LUMPUR (May 6): TSR Capital Bhd has bagged a RM90 million contract to undertake earthworks and other associated works for the Serdang depot, as part of the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (SSP) Line.

BINA Puri Holdings Bhd, in partnership with Prasarana Malaysia Bhd (formerly known as Syarikat Prasarana Negara Bhd), is likely to win the RM1 billion contract to build the bus rapid transit (BRT) system in Kota Kinabalu, sources say.