GEORGE TOWN: The Penang state government has set up a Class F contractors consultative council with participation from the various agencies and departments to help the 1,316 Class F bumiputra contractors in the state.The council, headed by state executive councillor Abdul Malik Abdul Kassim, consists of six representatives from the Penang Bumiputra Class F association and the heads of state-own

HONG KONG: Property investor and developer Chinachem Group yesterday (May 3) launched its third Hong Kong hotel, underlining its active return to business after winning a legal battle over the ownership of the estate of its former chairman, the late Nina Wang Kung Yu-sum.

JAKARTA: Indonesia's biggest cement producer, PT Semen Gresik, said on Tuesday, May 4, that it is in talks to acquire a Malaysia cement maker this year and has set aside more than 3.5 trillion rupiah (RM1.25 billion) for the deal.

MELBOURNE/SYDNEY: Australia's Westfield Group said on Tuesday, May 4 it would launch about A$1 billion ($2.98 billion) in development projects this year, including at home and in the US, as market conditions improve.

KUALA LUMPUR: The office rental market in Kuala Lumpur is expected to remain competitive, Cushman & Wakefield said in its 1Q2010 research report, as more landlords are willing to negotiate and offer leasing terms to maintain existing tenants while enticing new ones.

Stiff competition is also expected for the next six months with more buildings completed in 2010, it added.

KUALA LUMPUR: The Malaysian government has announced the implementation of the National Renewable Energy Policy and Action Plan, which will see the start of the electricity feed-in-tariff (FiT) mechanism by 2011.

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