KUALA LUMPUR: A Chinese businesswoman on April 14 filed a RM1 million civil suit against prominent businessman Tan Sri Ngan Ching Wen for breach of contract of a development project in Xi'an Qujiang, China.

Wang Yunzhen, 49, filed the suit at the High Court registrar's office through Messrs Halim Hong & Quek.

KUALA LUMPUR: IJM Corp Bhd has secured two construction contracts in Sarawak valued at RM246.7 million.

It said on Wednesday, April 14 its unit IJM Construction Sdn Bhd had received two letters of acceptance of tender for the Sarawak Public Works Department.

KUALA LUMPUR: Ariantec Sdn Bhd entered into a conditional Sales and Purchase Agreement with Jelita Marketing Sdn Bhd to acquire a 4-storey shopoffice with parking bay at Sunsuria Avenue, Kota Damansara for RM5.3million. The approximate gross built-up of the building is 10,660 sq ft.

KUALA LUMPUR: Ajiya Bhd has acquired industrial land in Kota Kinabalu Industrial Park measuring 2.84 acres for RM3.5 million.

SHAH ALAM: Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim on April 14 clarified that DPZ Asia Sdn Bhd was not directly involved in rehabilitation and cleaning up of the Klang River project.

GEORGE TOWN: Taiyo Resort (KL) Bhd, which also manages the Kajang Hill Golf Club, has been awarded a 20-year contract with a value exceeding RM80 million to manage the state-owned Bukit Jambul Country Club (BJCC).

HONG KONG: The secondary housing market here has shown a patchy recovery from the collapse of prices that followed the 1997 Asian financial crisis.

On Hong Kong Island, prices in Taikoo Shing in Quarry Bay and City Garden in North Point are now close to the peak levels reached before the crisis saw prices collapsing by up to 67% across the market.

BEIJING: China's property sector continued to gather strength in March, and strong sales and market sentiment suggest the upswing enjoys solid momentum.

Investment in real estate rose 35.1% in 1Q from a year earlier, faster than the 31.1% growth rate of the first two months, the National Bureau of Statistics said on Wednesday (April 14).

BEIJING: China is preparing to issue relatively restrictive rules governing insurance companies' investment in real estate, the official China Securities Journal reported on Wednesday (April 14).

The rules will not allow Chinese insurers to invest in residential housing or to invest directly in commercial property, the newspaper quoted an unnamed source as saying.

DUBAI: Dubai house prices and rents are set to fall 10% more in 2010 and not recover until 2012, as the resumption of some projects and completion of others weigh on an already-oversupplied market, according to a Reuters poll.

Dubai sent shockwaves through global markets late last year when it said it would request a standstill on billions of dollars of debt linked to Dubai World.