KUALA LUMPUR: Pan Pacific Hotels Group, a Singapore-listed hotel subsidiary of UOL Group Ltd, wants to expand to more than 10 Chinese cities over the next five years. It currently has a presence three cities but expects demand from travellers to grow rapidly, reports the ShanghaiDaily.Com.

Stronger unbilled sales of RM907mil

Below Expectation

3QFY10 : A slower quarter

Malaysia: Short-lived Growth Euphoria?

TOKYO: Japanese real estate developer Properst Co said on Friday, May 14, it had filed for bankruptcy protection with ¥55.4 billion (RM1.9 billion) in debt after a drastic restructuring failed to offset weak condominium sales.

The announcement came as Japan's property market starts to recover after a prolonged slump in prices and demand in the wake of the global financial crisis.

SHANGHAI: The Shanghai municipal government is putting up nearly 40 lots of land for sale in a week, the city's most extensive land sale ever, as it moves to curb housing prices by increasing available supply, the China Securities Journal said on Friday, May 14.

SHANGHAI: China Merchants Property Development Co said on Thursday, May 13, it would scrap its four billion yuan (RM1.87 billion) share placement plan due to a slump in its stock price triggered by government tightening.

DUBAI: Dubai repaid a US$980 million (RM3.14 billion) Islamic bond issued by developer Nakheel while another state-owned firm said it was confident of refinancing an upcoming loan as it digs out from a massive debt burden.

KUALA LUMPUR: Bank Negara Malaysia decided to raise the Overnight Policy Rate (OPR) by 25 basis points to 2.50% at the Monetary Policy Committee (MPC) meeting on Thursday, May 13.

The central bank said the floor and ceiling rates of the corridor for the OPR are correspondingly raised to 2.25% and 2.75% respectively.