KUALA LUMPUR: Sapura Auto Sdn Bhd is proposing the disposal of a piece of land in Kuala Lumpur, which presently houses an automobile showroom, to Sime Darby Motor Division Sdn Bhd for RM49.054 million, cash.

KUALA LUMPUR: The planned listing of Sunway City's real estate investment trust (REIT) will raise about RM1.5 billion, more than was expected in the beginning of this year, sources with direct knowledge of the deal told Reuters on Monday, May 10.

KUALA LUMPUR: The Middle Kingdom’s economy is still expected to enjoy growth of 10.7% annually in 2Q, slowing from a surge of 11.9% in the first three months of 2010, according to a government report, said the ShanghaiDaily.com on May 10.

TAWAU: In an effort to beautify the town, the Tawau Municipal Council (MPT) is offering a 30% assessment rebate on old buildings to owners who repaint them.

Its president, Ismail Mayakob said the incentive was in line with the Tawau beautification programme which was launched recently.

Mah Sing Group: Exceeding expectations

Event

We reiterate our “outperform” recommendation on Mah Sing with a raised target price of RM1.95 (previously RM1.88, ex-bonus issue). Mah Sing continues to show strong property sales and land acquisitions.

Impact

PETALING JAYA: The Mahkota Parade shopping complex in Melaka was re-launched on May 1 after a facelift.

The makeover process began in July 2009 and was completed last month at a cost of RM30.4 million.

KUALA LUMPUR: Sunway City Bhd rose in morning trade Monday, May 10 after ECM Libra Investment Research maintained its “buy” call and raised its target price for the stock to RM5 (from RM4.33 previously).

The research house said Suncity was one of its top picks for the sector.

HONG KONG: The latest global credit turmoil and the Hong Kong government's stated intention to crack down on property speculation might put the brakes on bidding at tomorrow's (May 11) government land sale, say some analysts.

SHANGHAI: A general stronger-than-expected pace of economic recovery in Asia-Pacific has led to a noticeable revival in demand for office space in 1Q2010.

Nod For Sunway REIT Listing