DUBAI: Dubai World unveiled details of a restructuring plan on Monday that would include its main property firms but leave other companies untouched in a move covering $26 billion (RM93.3 billion) in debt that could include asset sales.

SYDNEY: Australian home-building approvals unexpectedly fell in October for the first time in five months after the government reduced grants to first-time buyers and the central bank raised interest rates.

Singapore is an island city-state located at the southern tip of Peninsula Malaysia; it is a microstate and the smallest nation in Southeast Asia. It is connected to Malaysia with the Johor-Singapore Causeway in the north (opened on June 28, 1924) and Tuas Second Link in the west (opened to traffic on Jan 2, 1998).

PETALING JAYA: Malaysian architects have not been adversely affected by the current debt crisis affecting Dubai, the past president of Pertubuhan Akitek Malaysia (PAM) Dr Tan Loke Mun said.

SHAH ALAM: The Selangor state executive council (EXCO) will take full responsibility over its actions to declassify the Bukit Antarabangsa landslide report. Other state officials are not responsible as they were not part of the decision-making process and therefore should not be made legally liable, said Menteri Besar Tan Sri Abdul Khalid Ibrahim.

PETALING JAYA: YTL Corporation Bhd (YTL) does not have aspirations of “gentrifying” the Sentul area, but plans to make it a mixed-income neighbourhood that is desirable to live in, according to architect Lena Ng.

HONG KONG: Hong Kong’s weekend home sales fell 16% at major developments as concerns about Dubai World’s debt prompted buyers to slow purchases, Centaline Property Agency Ltd said.

KUALA LUMPUR: CIMB Equities Research sees the downside as fairly limited for WCT and Gamuda following the fallout from the developments in Vietnam and Dubai last week, though WCT is involved in Abu Dhabi only.
The research house said although the developments there were negative surprises, their implications for WCT and Gamuda were unlikely to be substantial.

Dijaya acquired adjacent Bok House land

Last week, Dijaya Corporation announced the acquisition of the 1.3-acre Bok House land, which is adjacent to Wisma Angkasaraya, for RM123 million or RM2,200 per sq ft (psf). Dijaya intends to develop the site into an integrated commercial development comprising of an international hotel, serviced suites and/or office suites.

ABU DHABI: Abu Dhabi, wealthy capital of the United Arab Emirates (UAE), will "pick and choose" how to assist debt-laden neighbour Dubai, a senior official said on Nov 28, after fears of a Dubai default sent global markets reeling.