KUALA LUMPUR: OilCorp Bhd has disposed of 343.53-acre worth of leasehold land in Klang, Selangor, for RM4 million.

Its subsidiary, Anjur Vista Sdn Bhd, has entered into a sale and purchase agreement with Logiston Sdn Bhd for the disposal of the land, in which part of the property covering an area of 107.21 acres has been approved for a commercial and resort development.

KUALA LUMPUR: Mutiara Goodyear Development Bhd posted lower net profit of RM3.33 million in its second quarter ended Oct 31, 2009 (2QFY2010), from RM5.5 million a year earlier, despite higher revenue.

KUALA LUMPUR: Berjaya Land Bhd posted net profit of RM15.16 million in its second quarter ended Oct 31, 2009 (2QFY2010), compared with a net loss of RM48.5 million the previous year despite lower revenue.

KLANG: The Sultan Suleiman building here has been declared a national heritage, making it the first heritage building in Selangor to be given the status.

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, attended the ceremony held in the compound of the building here on Dec 15.

KUALA LUMPUR: Crest Worldwide Resources Sdn Bhd entered into a strategic partnership with Asian Finance Bank Bhd (AFB) on Dec 15 to promote Crest Sultan Ismail.
This partnership between the project developer and the bank will see AFB acting as the global marketing  representative for Crest Worldwide, promoting the mixed development 

HONG KONG: The improvements made by eight major Chinese property developers to their capital bases and liquidity positions during September – December 2009 with a total raising of HK$38.5 billion (US$4.9 billion) through IPOs on the Hong Kong Stock Exchange may be short-lived, says Moody’s Investor Services.

SINGAPORE: ARA Asset Management and Qatar's Regency Group plan to launch the first real estate investment trust (REIT) in Singapore that will comply with Islamic principles, as investor interest returns to the REIT sector.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB), Malaysia’s biggest state asset manager, said it is seeking ways to “maximise” returns on its newly merged property unit, including a possible initial share sale.

“We will have to look at what’s the best for us,” PNB CEO Tan Sri Hamad Kama Piah Che Othman told reporters here on Dec 14. “It’s a matter of opportunity,” he said.

HONG KONG: The property market in China has “strong fundamentals”, reducing the risks of an asset bubble building up in the world’s third-largest economy, a representative of the International Monetary Fund (IMF) said.

Real estate prices are “rising after a long slump”, Vivek Arora, the fund’s senior resident representative in China, said in an interview in Hong Kong on Dec 14.

KUALA LUMPUR: A state Real Estate and Housing Developers’ Association Malaysia (Rehda) meeting will be called before the Christmas holidays to discuss the indefinite suspension of Kedah’s land swapping policy by the state government, says a spokesperson of Rehda Kedah/Perlis branch.