In another step towards full convergence with the International Financial Reporting Standards (IFRS) in 2012, the Malaysian Accounting Standards Board (MASB) last week announced the issuance of three revised Financial Reporting Standards (FRSs), amendments to five existing FRSs and four new interpretations.

BEIJING: China’s economy may grow as much as 16% this year with accelerating inflation and the risk of a property bubble unless the government reduces stimulus measures, government researchers said on Jan 11.

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GEORGE TOWN: The Real Estate Housing Developers Association (Rehda) is appealing to the Penang state government to relook the RM500,000 minimum price ruling for foreigners acquiring residential and commercial properties.

The ruling was announced in Budget 2010 and came into effect Jan 1.

KUALA LUMPUR: UEM Land Holdings Bhd has proposed to undertake a rights issue to raise up to RM970 million of which the bulk would be used to repay the UEM Group term loan of RM633 million and RM266.2 million for property development.

UEM Land said on Jan 11 the rights issue, while enabling it to repay the loan, would enable it to achieve a more robust capital structure.

PETALING JAYA: The Golden Palm Sea Villas in the beach locale of Bagan Lalang, Sepang, Selangor is nearing completion. The hand-over process to purchasers will be done in phases and should be completed, barring any delays, in April, said the developer.

* 1Malaysia Development Bhd (1MDB) yesterday signed a co-operation framework agreement with State Grid Corp of China (SGCC), said TheEdgeDaily on Jan 12.

KUALA LUMPUR: MK Land Holdings Bhd targets to achieve 70% sales within six months before commencing construction of its newly-launched condominium project, One Damansara in Damansara Damai in Petaling Jaya, Selangor, says an official from the company.

PETALING JAYA: Maymont Development Sdn Bhd is confident of a full take up of its Matahari Luxury Super Condo within six to eight months this year.

The construction of Matahari Luxury Super Condo, which is located at Desa Sri Hartamas, Kuala Lumpur began in 2007 and will be completed by end- 2011.

KUALA LUMPUR: Sunway Vivaldi of Sunway City Bhd has received the coveted green mark certification from Singapore's Building and Construction Authority (BCA).

The BCA green mark was introduced in January 2005 as a key strategic programme to raise the awareness of sustainable and enviromentally friendly buildings.