KUALA LUMPUR: Fund manager Mark Mobius' Templeton Emerging Markets Group has acquired a 5% stake in property developer KSL Holdings Bhd.

The 5% stake was part of the 10% stake or 35.1 million new shares placed out by KSL. The private placement was completed following the listing of the new shares last Friday, March 12.

KUALA LUMPUR: Ho Hup Construction Co Bhd's subsidiary is teaming up with Malton Bhd's unit to develop a piece of freehold land, measuring 243,000 sq m into mixed commercial and residential development.

Under the agreement, Ho Hup said on Wednesday, March 17 the project would comprise of shopping complex, shopoffices, office tower, serviced apartments and hotel.

• Terminated Setia View joint venture

KUALA LUMPUR: Thailand's government has expressed interest in participating in Malaysia Pacific Corp Bhd's (MPC) LakeHill Resort development and the RM3 billion Asia Pacific Trade & Expo City (APTEC) in Johor's Iskandar Malaysia.

KUALA LUMPUR: Nam Fatt Corp Bhd shares skidded in active trade on March 16 after it was placed under Practice Note 17 of the Main Market listing requirements of Bursa Malaysia Securities Bhd.

KUALA LUMPUR: Housing construction fell in February as blizzards depressed activity in the Northeast and South of the US. The decline highlighted problems facing builders as they struggle to emerge from the worst housing slump in years.

BOSTON: The apartment market in the US will improve as vacancy rates decline, according to a report from CB Richard Ellis Group Inc’s Econometric Advisors (CBRE-EA, formerly CBRE Torto Wheaton).

Vacancy rates will drop to a 6.8% average this year, compared with 7.4% in 2009, constituting a 60 basis points (bps) improvement, CBRE-EA said in a statement released on March 11.

SHAH ALAM: The RM10 billion Klang River cleaning project, which is part of the river’s RM50 billion rehabilitation and development project, is expected to be funded via a private financing initiative (PFI).

Selangor Menteri Besar Tan Sri Khalid Ibrahim said yesterday (March 16) that a detailed briefing on the project would be held on March 29, 2010.

KUALA LUMPUR: Ho Hup Construction Company Bhd’s shareholders, including Low Chee & Sons Sdn Bhd, will have the chance to vote at its EGM today (March 17) to decide whether to replace its existing board or not.

KUALA LUMPUR: ECM Libra Investment Research is maintaining its Buy call and target price for SP Setia at RM4.05 based on upper-end P/E valuation of 20 times on CY10 EPS.
It said on Wednesday, March 17 it did not expect a material impact after the property company terminated the 50:50 joint venture for the Setia View project in Penang.