Foreign developers eyeing Malaysia

The global economic downturn and the spread of the Influenza A (H1N1) pandemic have put a dent in the global tourism industry. Malaysia’s hospitality sector has not been immune to such shocks.

KUALA LUMPUR: Amanah Harta Tanah PNB 2 (AHP2) has sold two of its properties in Kuala Lumpur (KL) and one in Ipoh, in line with its termination. The KL properties were sold above their reserve prices while the Ipoh, Perak property was sold below its reserve price, the property trust said in a Bursa Malaysia announcement on Nov 26.

KUALA LUMPUR: Recently-listed TA Global Bhd furthered its expansion into Canadian real estate with a new mixed-development project through a joint venture (JV) with a Canadian developer.

The C$170 million development named The Gardens will span over 22 acres in Richmond, British Columbia that was formerly occupied by an amusement park.

LONDON: Britain unveiled plans on Wednesday Nov 25,2009 for tougher regulation of the huge home loans market as fallout from the credit crunch highlights concerns about lax lending standards and fraud.

KUALA LUMPUR: The first national association of real estate investment trusts (REIT) managers has been endorsed by local REITs today.

The Malaysian REIT Managers Association (M-REITMA), set up to represent the M-REIT sector and promote inter-sector dialogue, received the endorsement of 11 REIT managers today, the association said in a statement on Nov 26.

KUALA LUMPUR: PJ Development Holdings Bhd (PJD) plans to launch two new property projects next year in Mont'Kiara and Cheras with a combined gross development value of RM2 billion

CYBERJAYA: An office premise to be built by Emkay Group via Joyful Getaway Sdn Bhd will be the first building in Malaysia to be accredited with the internationally recognized Leadership in Energy and Environment Design (LEED) GOLD certification.

KUALA LUMPUR: It is business as usual for promoters of the Malaysia My Second Home (MM2H) programme, post the government’s announcement recently that a 5% Real Property Gains Tax (RPGT) will be levied from Jan 1, 2010, irrespective of when the property was acquired.

KUALA LUMPUR: Metro Kajang Holdings Bhd’s revenue rose 8% to RM373.6 million for its financial year (FY) ended Sept 30, 2009, from RM346 million in FY2008, but profit before tax dropped by 18.4% to RM57.9 million from RM71 million in the previous corresponding period.