KUALA LUMPUR: The recent RM4.5 billion offer by Sunway Sdn Bhd for the assets and liabilities of Sunway City Bhd (SunCity) and Sunway Holdings Bhd has no immediate rating impact on the ratings and outlook of the two entities' debt issues, RAM Ratings says.

KUALA LUMPUR: The Housing and Local Government Ministry will amend the Housing Development (Control and Licensing) Act 1966 to tackle the problems of abandoned housing projects in the country.

KUALA LUMPUR: Konsortium Transnasional Bhd's wholly-owned subsidiary, Syarikat Kenderaan Melayu Kelantan Bhd (SKMK), has proposed to dispose off its properties in Kota Bharu, Kelantan for RM8.6 million.

The disposal will enable SKMK to utilise the proceeds for working capital purposes, Konsortium Transnasional said in a filing to Bursa Malaysia on Thursday, Dec 2.

KUALA LUMPUR: Glomac Bhd recorded a net profit increase of 70% to RM15.88 million compared to RM9.202 million a year ago in its 2Q financial statements, the group said on Thursday, Dec 2.

MELBOURNE: Victoria's residential market is poised to enjoy long-term, albeit slow, growth on strong economic fundamentals, said international real estate service provider CB Richard Ellis (CBRE).

KUALA LUMPUR: JAKS Resources Bhd, via its wholly-owned subsidiary JAKS Sdn Bhd, entered into a joint venture (JV) agreement with IJM Corporation Bhd, also via its wholly-owned subsidiary IJM Construction Sdn Bhd (IJMC), for a construction contract for the Pahang-Selangor Raw Water Transfer Project amounting to RM268.53 million, the group announced on Thursday, Dec 2.

HONG KONG/SINGAPORE: Asian governments have imposed a raft of measures aimed at preventing their property markets from taking off too quickly, but the region still offers investors some of the most prospective real estate globally.

SHANGHAI: InterContinental Hotels Group Plc (IHG) launched its first upscale boutique brand in Asia in Shanghai on Thursday, Dec 2, a nod to the city's rising prominence as a business and tourism hub.

HONG KONG: Sun Hung Kai, Asia's largest property developer by market value, is confident of achieving its sales target for the 2010/11 fiscal year, despite harsh tightening measures announced by Hong Kong last month.

BEIJING: Residential property prices in China's 100 key cities rose 0.82% in November from a month earlier, according to China Real Estate Index System (CREIS).

Shenzhen stood out as the city with the highest average price, at 24,601 yuan (RM11,627.75) per square meter, followed by Shanghai, Beijing, Hangzhou and Sanya, the private data provider said.