The group has received a Letter of Award for a total contract value of RM188.6 million from BBCC Development Sdn Bhd for a construction project where the Pudu Prison was previously located.

Magna Prima Bhd is a niche high-end property developer with pure exposure in the Klang Valley with a total land size of 29.6 acres (11.98ha).

The government-linked company has set its sights on expanding its global footprint by designing townships and infrastructure projects.

The closure of Forest City sales galleries in China as well as the termination of the Bandar Malaysia agreement have cast doubts on Chinese investments here.

Location has always been a major factor when it comes to residential developments in all parts of the world. In the capital city of the UK, however, location is no longer the prime driver.

“Asians are different. Owning a property is part of the culture and those who don’t are somehow  stigmatised.”

Malaysian Resources Corp Bhd’s (MRCB) 85%-owned Rukun Juang Sdn Bhd (RJSB), Tanjung Wibawa Sdn Bhd (TWSB), a wholly-owned subsidiary of the Employees Provident Fund (EPF), and Bukit Jalil Sentral Property Sdn Bhd (Bukit Jalil Sentral) had on Wednesday entered into a subscription and shareholders’ agreement of which: i) RJSB and TWSB will co-invest in a special purpose company, namely Bukit Jalil Sentral, to jointly develop the land; and ii) the proposed disposal by RJSB of the land to the joint-venture company (JV Co) for an aggregated consideration of up to RM1.43 billion (RM430 per square foot).

Kimlun Corp Bhd’s first quarter of financial year 2017 (1QFY17) core net profit (CNP) of RM14.2 million is within our and consensus expectations at 20%. We derive our CNP after reversing out unrealised foreign exchange gains of around RM1.2 million. No dividends were declared, as expected.

Signs of life are beginning to return to the property market in Sentosa Cove.

Mah Sing Group Bhd has entered into an agreement with LTS Properties (M) Sdn Bhd, TS Law Corp Sdn Bhd and Law Wai Cheong to acquire 78% of the equity interest in Cosmowealth Housing Development Sdn Bhd for RM54.96 million (to be paid on deferred payment over 72 months).