Daiman scaling back launcheS
By THE STARJOHOR BARU: Daiman Development Bhd is scaling back on new products and launches this year as the local property market cools down. General manager Siah Chin Leong expected most local developers to adopt a similar move as they were not willing to take any business risk. Hopefully, the unemployment rate in Malaysia would [...]
Hektar REIT a ‘buy’ on high dividend yield: S&P
By BUSINESS TIMESINVESTORS should buy Hektar Real Estate Investment Trust (5121) because of its high dividend yield and the share is now trading at a low price to net tangible asset of 0.7 times, Standard & Poor’s said.The 58 per cent fall in its share price from a high of RM1.74 to the recent low [...]
Dubai property slumps after banks cut lending
By BLOOMBERGDUBAI: Dubai property prices dropped 23 per cent last month from a record high in September after banks cut lending and sellers offered discounts as a result of the global economic slowdown, according to an HSBC Holdings plc survey.The average price of villas in Dubai fell 30 per cent and for apartments 20 per [...]
Sitt Tatt buys office space for RM70m
By BUSINESS TIMESSITT Tatt Bhd is buying 17 parcels of office space within Wisma Chase Perdana, Kuala Lumpur, measuring 15,064.2 sq m from Chase Perdana Sdn Bhd for RM70 million cash.It will now own nine floors of the 12-storey office building together with 380 car park bays. The deal will boost its rental income stream.The [...]
Ibraco to buy land in Kuching for RM23.9m
By BUSINESS TIMESPROPERTY developer Ibraco Bhd will buy 14 parcels of land in Kuching, Sarawak from its major shareholder for RM23.93 million, it told Bursa Malaysia.Ibraco said it entered into a memorandum of understanding with Ibraco Properties Sdn Bhd for 11 parcels of mixed-zone land spanning 11.07ha for RM18.82 million and three parcels of mixed-zone [...]
MK Land to use proceeds from land sale for devt projects
By THE STARKUALA LUMPUR: MK Land Bhd plans to use the proceeds from the disposal of 9.2ha of land in Sungai Buloh, Selangor for development projects. In reply to a query from Bursa Malaysia Securities on Thursday, MK Land said the market value of the land was RM157.8mil while the forced sale value was RM118.35mil. [...]
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