KUALA LUMPUR: Longfor Group announced that the firm has been brought into MSCI China Index, which will come into effect on May 26, the Sina daily announced on May 21.

The Longfor Group is the 8th property unit brought into the index. The other seven include China Resources, Sino-Ocean Land, Shimao Property, and SOHO China.

BEIJING: China may launch a property tax trial in some cities later this year to stop speculation in the housing market, a property industry group said on May 19.

HONG KONG: Driven by private investor and owner-occupiers, demand in sales and land led the Asia-Pacific industrial market over the period between October 2009 and March 2010, according to Colliers International's latest Asia-Pacific Industrial Market Overview.

HONG KONG: Industrial property markets in the region finally stabilised after the global financial crisis as keen investment demand drives notable growth in capital values, according to Colliers International's latest Asia-Pacific Industrial Market Overview.

Initiating Coverage - Sunway Holdings
Ripe for the Picking

KUALA LUMPUR: Several dromant subsidiaries of IGB Corporation will be undergoing a member’s voluntary iquidation exercise. 

The subsidiaries are Ipoh Garden Shopping Complex Sdn Bhd, K Parking Sdn Bhd, Mid Valley City Residences Sdn Bhd, Express Management Consultants Sdn Bhd, Pinex Sdn Bhd, T-Bond Construction Sdn Bhd and Teamwork M&E Sdn Bhd.

KUALA LUMPUR: Paramount Corporation Bhd (PCB) has recorded a net profit of RM15.69 million for 1Q 2010, an increase from the previous corresponding quarter of RM8.99 million. Revenue for 1Q2010 was RM102. 3 million compared with the preceding year’s corresponding quarter of RM83.4 million.

KUALA LUMPUR: Datuk Ng Tiong Lip, better known as Datuk Jeffrey Ng, 53, has resigned as an executive director  at Sunway City Bhd (SunCity) effective May 20, said a Bursa Malaysia announcement on the same day. 

The former Managing Director of Asia Pacific Land Berhad was appointed to the Board of SunCity on March 3, 2008. 

KUALA LUMPUR: LBI Capital Bhd (LBI), through its subsidiary Goldmount Resources Sdn Bhd (GRSB) has entered into a sales and purchase agreement on May 19 to acquire a 10.25-acre vacant leasehold land in Selangor from Sanjung Hemat Sdn Bhd and Permodalan Negeri Selangor Bhd for RM6.096 million.