KUALA LUMPUR: Plenitude Bhd has proposed a bonus issue of 135 million fully paid-up new shares of RM1 each on the basis of one bonus share for every existing share held in Plenitude, it announced on Bursa Malaysia on Tuesday, Sept 7.

The exercise will effectively double its share capital and lower its net assets per share to RM2.42.

KUALA LUMPUR: Zephyr Point, an upscale boutique development in Lorong Basong, Damansara Heights by Urban Hallmark Properties (UHP) is expected to be launched next month, said UHP's director Datuk Jeffrey Ng.

Ng added that Zephyr Point is almost complete and is now awaiting the issuance of its certificate of fitness (CF).

Sales volumes picking up
Keeping sector a NEUTRAL. Last week, housing sales saw improvements in most major cities with sales volume in 19 cities rising 6.9% wow or 46% as compared with the trough in May. Judging from developers’ presales schedules, we believe that sales will stay at high levels in the coming months.

SHANGHAI: The momentum of home buying has continued to rebound in Shanghai last week amidst diminishing effects from the central government's tightening policies.

BEIJING: China has unveiled plans to encourage low-end industries to relocate from coastal areas to inland provinces in an effort to accelerate industrial restructuring and the transformation of the nation's economic growth model towards industrialisation and urbanisation.

SEOUL: Moody's Investors Service said on Tuesday, Sept 7, that an expected surge in credit losses from a sluggish domestic housing market was unlikely to have material rating implications for most South Korean banks.

KUALA LUMPUR: The proposal to impose a 80% loan-to-value ratio (LVR) for mortgages will not dampen the property market in the long run, said Minister of Housing and Local Government Datuk Wira Chor Chee Heung.

Nevertheless, Chor said, there was a need for a certain structure to ensure it would not be a burden for the lower-income group to own a house.  

KUALA LUMPUR: MTD Capital Bhd stands to gain RM34.02 million for its 67.18 acres in Melaka which has been compulsorily acquired by the state government.

Under the acquisition, MTD will receive RM38.64 million for the land in which its original investment cost was RM4.62, based on RM1.58 per sq ft.

SINGAPORE: Wing Tai Holdings Ltd has introduced a 5-storey freehold luxury condominium, Belle Vue Residences, in the Orchard-Oaxley neighbourhood in District 9. The 176-unit development sits on a 248,000 sq ft site.

KUALA LUMPUR: The Klang Valley retail market has improved from the last two years with more positive and faster leasing rate, according to C B Richard Ellis' (CBRE) second quarter (2Q) Kuala Lumpur Retail Market View released this month.