News by M

Berjaya Land Bhd plans to acquire 70% of Hotel Integrations Sdn Bhd (HISB), which specialises in the provision of consultation and related services in the hotel industry, for RM1.36 million.

According to the South China Morning Post (SCMP), Country Garden founder and chairman Yeung Kwok-keung refused to comment on what solutions might be available to the Chinese clients trapped in the grim situation.

Eco World Development Group Bhd’s wholly-owned subsidiary Eco World Capital (International) Sdn Bhd (EW Capital) would subscribe 648 million new shares with 259.2 million free warrants or 27% of the new Eco World International Bhd (EWI) shares and warrants, respectively.

“Singapore retains its title as the world’s most expensive city for a fourth consecutive year. Not only has Singapore stayed top but Hong Kong remains second, closely followed by Zurich. Meanwhile, the rise in the relative cost of living in Seoul has continued, it now occupies the sixth place,” the survey revealed.

Three out of the seven developers in our coverage (Eco World Development Group Bhd, LBS Bina Group Bhd and S P Setia Bhd) target 5% to 21% sales growth in 2017 while Mah Sing Group Bhd aims to at least maintain its FY2016 sales level.  

The contract is for the proposed turnkey design, approval, build and delivery with certificate of completion and compliance for phase two consisting of a 216-room hotel complete with interior fit-out and furnishing, associated infrastructure works and equipment installation.

It attributes the improved earnings to higher profit contributions from its property development and investment business, higher sales volume of certain car models from HR Owen and better earnings from its hotels and resorts business.

In a stock exchange filing yesterday, Metronic said the JV agreement, dated Nov 15, 2013, lapsed after the parties failed to procure the necessary approvals and consents from the relevant authorities within the period provided in the agreement. The slowdown in the property market was also cited as a factor.

Singapore’s Prime Minister Lee Hsien Loong was present together as guest-of-honour with Vietnam’s deputy PM, Trinh Dinh Dung, at the opening ceremony held this morning at the office development in HCMC.

According to a report on the New Straits Times daily, online applications for the homes on www.yayasansultanibrahim.org.my were made available from 5pm today.