KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) is allocating up to RM380 million to acquire more premium properties around Kuala Lumpur to add to its landbank following a rights issue earlier this year, said its CEO Mohamed Razeek Hussain yesterday.

HONG KONG: Li Ka-shing failed to answer the one question on everyone’s lips on Wednesday: Is it a good time to buy property?The property magnate was talkative and smiling at the results announcement for his flagship companies Cheung Kong (Holdings) and Hutchison Whampoa, but stayed guarded in his answers and warned of rising construction costs.

HONG KONG: Cheung Kong (Holdings) (SEHK: 0001) has cut prices and lowered the required down payment to lure buyers to Festival City in Tai Wai amid concerns the development is not selling as well as expected, property agents say.

HONG KONG: Singapore-listed Fortune Real Estate Investment Trust (Fortune Reit) has regulatory approval to list by introduction in Hong Kong after agreeing to adopt precautionary measures to maintain stable trading in two markets.

MELBOURNE (Australia): S P Setia Bhd's wholly-owned subsidiary, Setia International Ltd, is expected to build student apartments near the University of Melbourne and RMIT University, Australian Financial Review reported.

TIKRIT, IRAQ: Saddam Hussein made his palaces a desert paradise, but now his hometown is seeking foreign investors to turn the late dictator's playground into a tourist mecca.

Local officials see the 76 abandoned Saddam villas sprawled across hundreds of hectares (acres) as a potential gold mine for Tikrit's cash-strapped Salahuddin province.

KUALA LUMPUR: The Employees Provident Fund (EPF) will be appointing a master consultant to plan a suitable development programme for the 1,200ha of land set to be developed in Sungai Buloh, Selangor into a new hub in the Klang Valley.

From left: Liew, Ng and Leong at the launch of S P Setia’s new marketing
campaign with Firefly

KUALA LUMPUR: S P Setia Bhd believes that its new branding campaign with Firefly airlines will provide greater reach for its products.

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) is acquiring 95% of the issued and paid-up capital in PT Primabahagia Permai Sejati (PT PPS), which has the location permit for a plot of 14,000 ha (34,594 acres) land in East Kalimantan for oil palm plantation.

KUALA LUMPUR: KPJ Healthcare Bhd is buying a piece of leasehold land in Johor for RM7.07 million.

In a filing to Bursa Malaysia on March 31, its unit Pasir Gudang Specialist Hospital Sdn Bhd had on the same day entered a conditional sale and purchase agreement with Johor Land Bhd for the acquisition of the 3.25-acre land.