SELANGOR: Mulpha Land Bhd’s (MLB) proposed par value reduction exercise by year-end will place the company on a better footing to raise funds for any expansion, said company officials.

KUALA LUMPUR: The Kampung Baru Malay Agricultural Settlement (MAS) Administrative Council is against the formation of the proposed Kampung Baru Development Corporation if none of the Council members sits in the
Corporation.

KUALA LUMPUR: The Cabinet is mulling a suggestion to acquire the Putrajaya International Convention Centre (PICC) as the site for the new Parliament complex but would only make a final decision after considering cost estimates for the move, Minister in the Prime Minister's Department Datuk Seri Mohamed Nazri Abdul Aziz said.

KUALA LUMPUR: Construction firm Sunway Holdings Bhd received the Certificate of Incorporation for PT Sunway Flowtech.

Sunway Marketing (S) Pte Ltd, a unit of Sunway Holdings, incorporated limited company PT Sunway Flowtech in Indonesia on April 30, 2010. The Certificate of Incorporation, which dated 10 June 2010, was received on June 15.

KUALA LUMPUR: BSL Corporation Bhd is disposing a piece of vacant land in Negeri Sembilan for RM3.3 million.

Its unit Ban Seng Lee Industries Sdn Bhd (BSLI) had on Thursday, June 16 entered a sale and purchase agreement with Soon Seng Truck & Parts Sdn Bhd for the disposal of the 5.4-acre land.

KUALA LUMPUR: Guocoland (Malaysia) Bhd has named Yeow Wai Siaw as its new managing director.

The 45-year-old Yeow was the head of group business development of Hap Seng Consolidated Bhd prior to joining Guocoland. He holds a Master of Business Administration (MBA) in Finance from the University of Hull, United Kingdom.

SIBU: Some 4,500 agricultural and 3,000 residential land owners here have yet to settle their land rents and premiums amounting to RM773,827.50, or 87.89% of the total of RM880,413.99, as at March 31. 

KUALA LUMPUR: Penang's latest shopping mall, 1st Avenue, situated on Jalan Magazine, Georgetown is slated to open in September 2010.

SYDNEY: Australian new homes starts hit a six-year high last quarter thanks to stimulus spending on public housing, while work in the pipeline suggested the sector would help underpin the economy as a whole going forward.The lift in home supply could also take some heat out of house prices, a comfort to the Reserve Bank of Australia (RBA) which has been warning against a speculative bubble.

HONG KONG: Fashion retailers are increasing the size of their outlets in larger flagship stores in Hong Kong's premier shopping district, Causeway Bay, as they seek springboards into the mainland market, analysts say.