KUALA LUMPUR: The tax relief on housing loan interest is restricted to a maximum of RM10,000, the Malaysian Inland Revenue Board (IRB) said.

In a statement on Friday April 9, the IRB said the amount was deductible for each basis year for a period of three consecutive years of assessment from the date when the interest was first expended.

BEIJING: Surging housing prices and a severe drought in southwest China may prompt the central bank to raise interest rates as early as this month, a senior government economist said on Friday.

KUALA LUMPUR: Selangor Properties Bhd (Selprop) is awaiting approvals from the authorities for its large-sized condominium project on Jalan Batai in Damansara Heights, one of the exclusive and matured addresses in the city.

The property is located along Jalan Datuk Sulaiman within the sought-after township of Taman Tun Dr Ismail

KUALA LUMPUR:  If you wish to sell your property in a hot market, how do you ensure that you get the best out of the deal?

• The Federal Government is studying a proposal to extend the new Light Rail Transit (LRT) line between Kota Damansara to Cheras to Sungai Buloh and Kajang, said Bernama news agency in a report yesterday. Additional routes are:

KUALA LUMPUR: Sunway City Bhd (SunCity) jumped six sen or 1.62% to close at RM3.76 yesterday on the company’s real estate investment trust (REIT) plan, which received positive response from analysts.

The counter rose to an intra-day high of RM3.82, its highest level in two years.

Price: RM0.845
Recommendation: Withheld

Sunway City

Unveiling hidden treasures. The injection of RM3.5b assets into the proposed Sunway REIT (SREIT) is expected to provide a one-off gain of 61sen/sh and upstream RM1.17b (RM2.49/sh) in net cash to SCity.

With expected net cash of RM1.00/sh post-SREIT listing, SCity may pay special net dividends of 30-35sen/sh and save the rest for growth.

KUALA LUMPUR: Ireka Corp Bhd’s unit has secured a RM36.23 million contract to build an interchange for the proposed Bandar Indahpura, Kulai-Second Link Expressway in Iskandar Malaysia. The news lifted Ireka’s share price to 84.5 sen, up 6.3% or five sen yesterday.

BEIJING: China's agency overseeing big state-owned businesses has received plans from 78 state companies spelling out how they intend to sell out of the nation's heady property market, a Chinese newspaper said on Friday.