Tanjong plc will be privatised by its major shareholder, Usaha Tegas, via a special purpose vehicle (SPV) that has made a conditional offer to acquire all the outstanding shares of Tanjong at a cash offer of RM21.80.

WASHINGTON: New US home building rose at a much weaker pace than expected in July and permits hit a 14-month low, though sturdy growth in industrial output implied the economy has enough strength to keep growing.

HONG KONG: Hong Kong's booming housing market has suddenly cooled after a range of government measures were announced last Friday, Aug 13. However, property analysts differ on whether the fall in sales will last for long.

HONG KONG: C L Kong says he is unfazed by the government's latest round of measures aimed at cooling down Hong Kong's red-hot property market.

The public relations executive signed a preliminary agreement to buy a two-bedroom flat in Tseung Kwan O in May with the formal contract due to be completed by the end of this month.

SHANGHAI: New home sales in China cities were mixed last month with Beijing and Tianjin recording a significant rise. But overall prices declined in July and a further drop is expected in the coming months, according to property consultant DTZ.

Beijing and Tianjin recorded month-on-month sales rises of 38.9% and 24.6%, respectively, the DTZ data showed.

LONDON: Dozens of British residential development schemes are launched in Hong Kong before being offered to buyers in Britain.

GEORGE TOWN: The Penang property market is expected to enter another boom cycle, following signs of a gradual rise in prices due to a limited supply of land in prime areas.
Hunza Properties Bhd (HPB) group executive chairman Datuk Khor Teng Tong said the local property industry was well on the road to recovery as the impact of the financial crisis faded.

Hunza Properties
FY10 sales doubles YoY

Hunza Properties

Well Above Expectation
Hunza’s FY10 earnings came in 11% above our expectation and street’s estimates. FY10 y-o-y turnover and net profit soared 172% (26% q-o-q) and 85% (23% q-o-q) respectively.

BEIJING: China's banking regulator has told banks in Beijing to test for the impact of a plunge in property values below what is owed on mortgages, a local newspaper reported on Wednesday, Aug 18.

The order to examine any potential damage from negative equity in the real estate market is the latest effort to probe for banks' vulnerability to a crash in housing prices.