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Sarawak builder Ibraco is now PN17 firm

KUALA LUMPUR: Ibraco Bhd has been categorised as Practice Note 17 (PN17) company as the property developer’s revenue is less than 5% of its paid-up capital of RM99.5 million.

The Sarawak-based company’s revenue for the financial year ended Dec 31, 2009 (FY2009) slid almost 95% to barely RM3.5 million from RM66.5 million in FY2008.

11 May, 2010
South Korea April mortgage loan growth accelerates

SEOUL: South Korean banks' mortgage lending to households in April grew slightly faster, while overall household loans rose at a slower pace than the previous month, central bank data showed on Tuesday, May 11.

11 May, 2010
CMS and Naim Cemdera signs MoU to develop land in Samalaju, Sarawak

KUALA LUMPUR: Cahya Mata Sarawak Bhd has entered into a memorandum of understanding  with Naim Cendera Sdn Bhd (NCSB) and the Bintulu Development Authority (BDA) to enter into a joint venture to undertake the development of a parcel of land at Samalaju New Township.

11 May, 2010
Sunway in MoU with China's XuanCheng municipal govt to develop integrated city

KUALA LUMPUR: Sunway Holdings Bhd is collaborating with China's XuanCheng municipal government to develop an integrated city in the city of XuanCheng, which is 260km east of Shanghai.Sunway said on Monday, May 10 it had entered into a memorandum of understanding (MoU) with the municipal government to develop the city which consists of an entertainment park, exhibition centre, hotels, shopping m

10 May, 2010
Mulpha Land proposes to cancel 90c of each RM1 share

KUALA LUMPUR: Mulpha Land Bhd has proposed to reduce its share capital by cancelling 90 sen of each RM1 share which will give rise to RM82.2 million to fully set-off its accumulated losses and the remaining balance to be credited to the company's capital reserves.The audited accumulated losses as at Dec 31, 2009 were only RM3.4 million at group level and RM4.8 million at company level."In addit

10 May, 2010