BLand seals deal with Libyan parties

By BUSINESS TIMESBERJAYA Land Bhd has sealed an initial pact with two Libyan parties to jointly develop 345ha in Tripoli into an integrated golf resort cum residential and commercial development.The pact was signed with the Economic and Social Development Fund of Libya and OYIA Company For Development and Tourism Investment yesterday, BLand told Bursa Malaysia [...]


Sunrise pays RM179m for land near Petronas Twin Towers

By BUSINESS TIMESSUNRISE Bhd may carry out a mixed development project on a piece of prime land opposite the Petronas Twin Towers where Wisma Angkasa Raya now sits.This could include hotels, offices and service apartments, executive chairman Tong Kooi Ong said in a briefing in Kuala Lumpur yesterday.Plans will be finalised by the third quarter [...]


Glomac sees KL projects boosting 2009 earnings

By BUSINESS TIMESGLOMAC Bhd expects to improve its net profit in fiscal 2009, thanks to sales of its Glomac Tower and Suria Stonor projects in Kuala Lumpur.The property developer made net profit of RM35.1 million in the year ended April 30 2008, on revenue of RM324 million.However, sales of properties costing below RM300,000 are affected [...]


MRCB sees better results in fourth quarter

By THE STARKUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) expects a better fourth quarter on the back of moderating construction and building material prices, says group managing director Shahril Ridza Ridzuan. The group posted a net loss of RM5.2mil for the second quarter ended June 30 amidst soaring construction costs, which resulted in substantially reduced [...]


Taxation regime for REITs

By THE STARWOULD a tax regime in a country be able to promote the real estate investment trust (REIT) industry? Malaysia currently has 13 REITs in the market (compared with 19 in Singapore and seven in Hong Kong). The following are the overriding salient features of the tax regime in Malaysia for REITs. Tax transparency [...]


BLand signs pact to develop golf resort in Libya

By BERNAMAKUALA LUMPUR: Berjaya Land Bhd (BLand) has entered into a memorandum of agreement with Libya’s Economic and Social Development Fund (ESDF) and the OYIA company to develop an integrated golf resort cum residential and commercial development in Libya. The proposed project would be developed in phases with the Libyan government agreeing to bear the [...]