PETALING JAYA: San Soon Seng Food Industries Sdn. Bhd, a wholly owned subsidiary of Three-A Resources Bhd has entered into a Sale and Purchase Agreement with Excellent Chemicals Industrial Sdn Bhd to acquire a piece of land in Sungai Buloh, Selangor for RM1.6 million.

The land comprises an area of approximately 4,016 sq metres together with a building.

KUALA LUMPUR: Nearly 70% of the new homes supply in Shanghai, China next month will come from the suburbs, a Chinese daily reported. 

The Shanghai Daily reported that most of the new homes would be supplied by developments beyond the city’s Outer Ring Road according to data released by China Real Estate Information Corp (CRIC) on March 25. 

PETALING JAYA: Pembinaan SPK Sdn Bhd has been awarded a contract from Abu Dhabi based developer, Aldar Properties PJSC for the Main Contract Works of the Al Raha Gardens Community Retail Centre Development in Abu Dhabi.

The AED29.9 million (approximately RM27.062 million) - contract was received on March 23, 2010,

KUALA LUMPUR: The top 100 retail chains in China posted the slowest sales growth in a decade last year, as they were cautious in opening new stores amid the fallout from the global financial crisis, a Chinese daily reported. 

PETALING JAYA: BBN Development Sdn Bhd (BBND), a wholly owned subsidiary of Nilai Resources Group Bhd and GD Development Sdn Bhd will be jointly developing a 338.8acre site in Putra Nilai, Negeri Sembilan.

PETALING JAYA: Blackstone Seven Sdn Bhd’s Tarragon Kelana Commercial Centre in Kelana Jaya, Petaling Jaya in Selangor has recorded more than 60% sales following its launch last week.

The retail units and shop offices were completely sold while only a limited number of office suites are left.

HONG KONG: The biggest developers here are capping the number of flats an individual can buy in some projects to cool speculation, but some say the move is ineffective and derided it as a "sales gimmick".

KUALA LUMPUR: Hilton Worldwide has appointed Ian Barrow as General Manager and Leo Frankel as Director of Business Development of the new upcoming Doubletree by Hilton Kuala Lumpur.

Scheduled to open in the second quarter of 2010, the 540-room upscale hotel is strategically located at the intersection of Jalan Ampang and Jalan Tun Razak in Kuala Lumpur.

• Within expectations
6MFY10 results achieved 45% and 43% of house and consensus full-year estimates respectively. We deem the results to be broadly in line as we expect 2HFY10 to report stronger earnings. As expected, no dividends were declared.

BEIJING: The exposure of Chinese banks to land prices is not a matter of serious concern, Liu Mingkang, head of the China Banking Regulatory Commission (CBRC), said on Friday March 26.

Bank loans linked to land purchases account for only 1 percent of their total lending, Liu told a conference.