KUALA LUMPUR: Tan Sri Syed Mokhtar Al-Bukhary and UAE-based Mohamed Ali Rashed Alabbar have teamed up to develop the RM6 billion Tradewinds Centre project in Kuala Lumpur.

It is learnt that Mohamed Ali, or better known as Alabbar, has set up a company called Tradewinds International Sdn Bhd to undertake the property venture with Syed Mokhtar.

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB), which is wholly-owned by the Federal government, is seeking investors to jointly develop a large portion of the 70-acre (28.3ha) Tun Razak Exchange (TRX) project in Jalan Tun Razak, Kuala Lumpur.

PETALING JAYA: Asian Congress of Architects Malaysia (ACA16) is expected to bring in 5,000 regional delegates to Kuala Lumpur and generate RM34.8 million for the economy.ACA16 is hosted by the Malaysian Institute of Architects (PAM) and will be held from June 23 to 29, 2014.

PETALING JAYA: Selangor Dredging Bhd (SDB) has sealed a RM110 million investment partnership agreement with GMA Group, an enterprise specialising in wealth management through property marketing and risk management. Under the agreement, GMA Group will invest in 100 units of Signature Suites at The Hub in SS2 in Petaling Jaya. This is about 36% of the Signature Suites at the development.

KUALA LUMPUR: Boustead Holdings Bhd will issue a junior Islamic medium term note programme of up to RM1.2 billion in nominal value with no pre-determined maturity following its approval by Securities Commission Malaysia (SC) on Nov 15.

KUALA LUMPUR: The completion of the new theme park and hotels in as early as 2016 under the RM5 billion-Genting Integrated Tourism Plan (GITP) is expected to stimulate growth at Genting Malaysia Bhd (GenM), said analysts.

KUALA LUMPUR: Bank Negara Malaysia (BNM) will formulate a new interest rate framework as the base lending rate (BLR) has become “less relevant”.

KUALA LUMPUR: Kuala Lumpur City Hall (DBKL) has received only 80,000 objection letters on the assessment hike, the federal territories minister said yesterday.

KUALA LUMPUR: Asian Pac Holdings Bhd has pre-leased 65% of the 800,000 sq ft of net retail space in its lifestyle luxury Imago Mall in Kota Kinabalu (KK), Sabah.

Its management said the mall is scheduled for completion in the fourth quarter of 2014, and has attracted both international and local labels, some of which are making their entry into the KK market.

KUALA LUMPUR: Sunway Bhd has acquired four parcels of land totalling 24.46 acres (9.82ha) in Penang island with its winning bid of RM267.4 million or RM251 per sq ft.