IN early November, UEM Land Holdings Bhd started the property merger ball rolling by proposing a conditional takeover of Sunrise Bhd at RM2.80 per share, which values the acquisition at RM1.39 billion. It will create Malaysia's largest property company with a market capitalisation of nearly RM10 billion and a 12,000-acre landbank.

KUALA LUMPUR: Sime Darby Property Bhd, the property arm of Sime Darby Bhd, is best known for its size as the property developer with the largest landbank in the country.

KUALA LUMPUR: A number of construction players stand to benefit from the proposal for a second 1,000MW coal-fired power plant as part of the ongoing plan to meet the country's growing power needs.

It was reported last week that the Energy Commission had requested for proposals from two power plant operators for an additional 1,000MW coal-fired plant.

KUALA LUMPUR: Size matters. This is the message that property developers have been sending out recently, as seen from the slew of tie-ups among the big names.

In the span of a month, three significant proposed mergers among property developers have emerged in the market, and all with the objective of building up size.

Major KL LRT extension work packages finally out

When Mah Sing Group Bhd previewed its M Suites in Jalan Ampang in September, the response was encouraging enough to get the company searching for another piece of land in the area.

Penang market moving sidewaysThe Penang residential property market is moving sideways, with prices expected to reach a plateau soon. The market may face an “interesting tipping point where prices may slip or hold steady” in 4Q2010, says Raine & Horne International Zaki + Partners director Michael Geh.

Mahabuilders Bhd, which is also known as the “white knight” of Johor for its track record in reviving abandoned housing developments in the state, is developing its own projects on undeveloped land now. In fact, it embarked on its first luxury residential development called Horizon Residence in Johor recently.

KUALA LUMPUR: LFE Corporation Bhd has posted net loss of RM2.07 million for its third quarter (3Q) ended Sept 30, 2010, from a net profit of RM659,000 a year ago on lower revenue.

Its turnover plunged 69.8% to RM13.35 million from RM44.27 million a year ago on lower contribution from its construction activities, it announced to Bursa Malaysia on Friday, Nov 26.

KUALA LUMPUR: Lebar Daun Bhd has posted a net loss of RM1.1 million for its third quarter (3Q) ended Sept 30, 2010, from net profit of RM359,000 a year ago on the back of impairment allowance for trade receivables not provided for a year ago.