KUALA LUMPUR: Brem Holdings Bhd has acquired a 49% stake in Topaz Teguh Sdn Bhd for RM1.2 million.

The 49% stake, which represents 1.9 million shares, was acquired by Brem Holdings’ unit Naga Istimewa Sdn Bhd from Hong Wey Sports Business Co Ltd, the company said in a filing to Bursa Malaysia on Thursday April 1. The acquisition will be financed through internal funds.

HONG KONG: Prime industrial land prices in Hong Kong registered a 38% 6-month increase to become the world’s most expensive at US$1,063.59 per sq ft, according to Colliers International’s Global Industrial Highlights for the second half of 2009.

SEOUL: Housing prices across South Korea rose 0.2 percent in March from the previous month, marking a 12th consecutive monthly gain but slowing after a 0.3 percent gain in February, the country's top mortgage lender said on Thursday April 1.

SHANGHAI: Hang Lung Properties announced March 31 it achieved HK$2.222 billion and HK$1.833 billion in rental income and gross profit respectively in the second half last year, an increase of 9 per cent year-on-year.

SHANGHAI: Starwood Hotels and Resorts Worldwide Inc opened its 1,000th hotel around the globe along East China's Qiandao Lake on Wednesday, March 31. 

Sheraton Qiandao Lake Resort signals Starwood's ambitious expansion plan in the Chinese market.

Starwood now has 54 hotels operating in China with another 70 hotels under development or construction in the country.

KUALA LUMPUR: Ho Hup Construction Co Bhd may have to resort to bringing Malton Bhd to court if it is not able to renegotiate a fairer deal in their joint development agreement (JDA) involving a 60-acre plot of land in Bukit Jalil.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) is allocating up to RM380 million to acquire more premium properties around Kuala Lumpur to add to its landbank following a rights issue earlier this year, said its CEO Mohamed Razeek Hussain yesterday.

HONG KONG: Li Ka-shing failed to answer the one question on everyone’s lips on Wednesday: Is it a good time to buy property?The property magnate was talkative and smiling at the results announcement for his flagship companies Cheung Kong (Holdings) and Hutchison Whampoa, but stayed guarded in his answers and warned of rising construction costs.

HONG KONG: Cheung Kong (Holdings) (SEHK: 0001) has cut prices and lowered the required down payment to lure buyers to Festival City in Tai Wai amid concerns the development is not selling as well as expected, property agents say.

HONG KONG: Singapore-listed Fortune Real Estate Investment Trust (Fortune Reit) has regulatory approval to list by introduction in Hong Kong after agreeing to adopt precautionary measures to maintain stable trading in two markets.