KUALA LUMPUR: Shareholders of Tambun Indah Land Bhd approved the proposed acquisitions of minority interests in Tambun Indah Development Sdn Bhd (TIDSB) and Palmington Sdn Bhd (PSB) for RM88.2 million at the EGM held yesterday in Penang.  

KUALA LUMPUR: Property-related outbound capital from Malaysia amounted to just under US$5 billion (RM15.8 billion) in 2012 compared with US$1.15 billion in 2007 with the UK, Singapore, Australia and the US as the main recipients of the funds, according to real estate agent and global property consultancy, Knight Frank.

KUALA LUMPUR: Bonia Corp Bhd has acquired a prime property worth RM20 million located strategically in the heart of Kuala Lumpur to further increase its source of revenue and income stream from its property investment segment.

KUALA LUMPUR: CapitaMalls Malaysia Trust (CMMT) has aborted its proposed acquisition of Tropicana Corp Bhd’s assets — Tropicana City Mall and Tropicana City Office Tower.

In a filing with Bursa Malaysia yesterday, CapitaMalls REIT Management Sdn Bhd, manager of CMMT, said “both parties are unable to mutually agree on the terms of the sale and purchase agreement”.

KUALA LUMPUR: KLCC Property Holdings Bhd’s (KLCCP) pre-tax profit for the third quarter ended Sept 30 of  2013 financial year (3QFY13) fell to RM223.85 million from RM1.56 billion in the same quarter last year.

Revenue rose to RM321.58 million from RM282.87 million in the same period a year ago.

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) said yesterday that its subsidiary Jana Kapital Sdn Bhd’s proposed RM4 billion 16-year sukuk murabahah programme has been set up merely for the purpose of facilitating MBSB’s proposed RM3 billion 15-year structured covered sukuk murabahah programme.

PUTRAJAYA: While a slowdown in the property market is to be expected in the near term following the cooling measures announced under Budget 2014 last Friday, IOI Corp Bhd group executive chairman Tan Sri Lee Shin Cheng said he remains optimistic about its longer-term outlook as consumers digest the changes in due time.

KUALA LUMPUR: Only World Group Holdings Bhd (OWG) intends to revitalise the KomtarTower in Penang using  56% of the proceeds from its IPO.

HONG KONG: Barclays plc joined UBS AG and Bank of America Corp in forecasting a Hong Kong property slump, predicting home prices will fall at least 30% by the end of 2015 as income growth stalls and supply increases.

THE almost impenetrable crowds of shoppers at Causeway Point might be intimidating and frustrating for visitors to the mall, but it has been a cause for celebration for investors in Frasers Centrepoint Trust (FCT).