SHAH ALAM: Sime Darby Property Bhd is awaiting the approval from the state and federal governments on its plans for its proposed 10,861-acre (4,395ha) Selangor Vision City (SVC) development, said its managing director Tunku Datuk Putra Badlishah Tunku Annuar.

IPOH: Perak Public Accounts Committee chairman Datuk Seri Raja Ahmad Zainuddin Raja Omar on March 2 called on government agencies in the state to make full use of their idle land to prevent them from being occupied by squatters.

He said the agencies could get advice and information from the district and land office on how to utilise the land.

LONDON: British households will be able to take out soft loans to improve the efficiency of their homes from 2013, repaying these from energy savings made, the government said on March 2.

The "Warner homes, greener homes" initiative aimed to cut carbon emissions from homes by 29% by 2020.

Part of the exhibits at MIFF2010

KUALA LUMPUR:  Furniture makers have been urged to develop environment-friendly products in line with rising consumer demand for such products.

KUALA LUMPUR: Property developer Naim Holdings Bhd acquired a 15% equity interest in its sibling Plus Viable Sdn Bhd for RM585,000.

In a filing to Bursa Malaysia on March 2, the developer said the acquisition was done by its wholly owned sub-subsidiary NCSB Engineering Sdn Bhd from construction contractor Chiew Kee Engineering Sdn Bhd on March 1.

The Malaysian Accounting Standards Board (MASB) has decided to adopt what is called IFRIC 15 — agreements for the construction of real estate.

Under the new rules, which will become applicable for the accounting period commencing July 1, property developers are to recognise revenue based on the completion method instead of the percentage-of-completion method in current practice.

SYDNEY: Australia's central bank raised its cash rate by 25 basis points to 4% on March 2 and flagged further hikes ahead, saying a surprisingly strong recovery allowed it to move policy toward more normal settings.

(from left) Lim, Angela and Hijjas inspect one of the rooms

KUCHING: Prime Minister Datuk Seri Najib Tun Razak said on March 2 the power vested in Penang Chief Minister Lim Guan Eng to terminate any contract awarded by the Penang Development Corp (PDC) at any time without giving any reason can be regarded as tantamount to abuse of authority.

KUALA LUMPUR: Plug and PlayTech Centre Silicon Valley is considering investing in technopreneur companies under the i-City Plug and PlayTech Centre Incubator programme (i-City PnP Incubator).

The programme aims to nurture and grow local entrepreneurs in Information and Communication Technology.