KUALA LUMPUR: MK Land Holdings Bhd has resolved to undertake a rights issue of equity linked instruments to raise gross proceeds of at least RM150 million.

The property developer said on Jan 14 the proceeds of the rights issue would be used to partly repay bank borrowings and/or working capital.

KUALA LUMPUR: Four Seasons Resort Langkawi (pictured) in Pulau Langkawi, Kedah, has been named Malaysia’s best resort for its “Excellence in Hotel Services” in the 5-star (resort) category at the 16^th Malaysia Tourism Awards 2008/09 during a gala awards dinner held on Jan 9, 2010.

HONG KONG/BEIJING: China is determined to curb sharp rises in property prices to prevent asset bubbles, deploying a combination of credit tightening measures, increasing supply of affordable housing and verbal suasion.

KUALA LUMPUR: Beijing’s increase of banks’ reserve ratio “will not likely impact immediately the real estate market though uncertainties in the sector are growing,” analysts told the Shanghai Daily.

MANILA: The head of the Asian Development Bank warned it was too early for Asian countries to end stimulus policies started during the financial crisis and said he saw no big risk of price bubbles in China, according to Reuters.

Haruhiko Kuroda said on Jan 14 that policymakers still needed to restore demand and stabilise financial systems to support the economic recovery.

NEW YORK: Stuyvesant Town and Peter Cooper Village debt holders demanded payment from Tishman Speyer Properties LP and BlackRock Inc within 10 days, a step toward foreclosing for New York’s largest apartment complex, said two people familiar with the matter.

KUALA LUMPUR: Minply Holdings (Malaysia) Bhd is undertaking a housing development project in Gemas, Negri Sembilan, with an estimated gross development value (GDV) of RM192 million, it announced on Bursa Malaysia on Jan 13.

KUALA LUMPUR: IOI Properties Bhd is targeting 80% sales in three months for its recently launched Skyville project (pictured) in Bandar Puchong Jaya, Selangor.

Skyville is a low-density gated and guarded development comprising only 60 units of 2½-storey semi-detached houses on a 10-acre site.