KUALA LUMPUR: The Crest @ Jalan Sultan Ismail, a 26-storey Grade A office tower developed by SKN Land & Development, has recorded a block sale of 31 office units to a Singaporean investor.

The office tower, comprising 143 office units, were soft-launched early this year.

KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMSB) has proposed to acquire additional stakes in CMS Premix Sdn Bhd and CMS Premix (Miri) Sdn Bhd from Mintaro Sdn Bhd for a total of RM12 million cash, it announced on Bursa Malaysia on Monday, Sept 13.

KUALA LUMPUR: Since Sunway Real Estate Investment Trust’s (SunREIT’s) debut on July 8, which netted RM500 million in proceeds for Sunway City Bhd (SunCity), investors may be wondering what the property developer plans to do with the hefty amount of cash.

SHANGHAI: Shanghai's stock of individual mortgages fell by 1.06 billion yuan (RM487 million) in August, the first monthly fall this year, as government efforts to cool down the sector continued to hit home purchases.

KUALA LUMPUR: Daiman Development Bhd (DDB) has entered into a memorandum of understanding (MoU) with the People’s Government of Chaozhou Municipality (PGCM) to acquire and develop a 300-acre tract of land in Chaoan County, China.

A Bonus Surprise

THE BUZZ

On 7 Sept 2010, Plenitude proposed a 1-for-1 bonus issue (Bursa).

OUR TAKE

Announces 1-for-1 bonus issue. We had always wondered what Plenitude would do with the large reserves that the company has been building up since its listing in 2003.

An Expanding Presence in Johor

THE BUZZ

On 9 Sept 2010, SP Setia announced that it would be acquiring 259.1 acres of freehold land within the Tebrau Corridor in South Johor, Malaysia, from a private developer called Kelana Ventures SB. The acquisition is expected to be completed in late 2011. (Bursa)

OUR TAKE

DUBAI: State-owned conglomerate Dubai World reached a formal deal to restructure almost US$25 billion (RM77.6 billion) of liabilities, partly easing recently heightened concerns over the Gulf emirate's debt woes.

FRANKFURT: Bailed-out German bank Hypo Real Estate (HRE) will temporarily receive an additional 40 billion euros (RM159 billion) in guarantees to set up a bad bank, the national bailout fund Soffin said on Friday.

The total volume in guarantees will increase to 142 billion euros to avoid liquidity shortages at HRE, Soffin said.

Like most young couples, Betty and her husband were looking for an affordable landed property as their first home in 2008.