GEORGE TOWN: The Penang state government has set into motion various initiatives to ensure efforts towards the heritage conservation of George Town as a UNESCO World Heritage site are on track.

KUALA LUMPUR: UOA Real Estate Investment Trust (UOA REIT)’s revaluation of its properties, UOA Centre, UOA II, UOA Damansara and UOA Pantai has resulted in a revaluation surplus of RM29,149,523, UOA REIT announced Jan 12.

HONG KONG: Beijing needs to tighten its monetary policy to avoid a property bubble and runaway inflation, or face an economy growing at a superheated 16 per cent this year, a top government research institute warns, according to the South China Morning Post.The assessment, by economists He Fan and Yao Zhizhong of the Chinese Academy of Social Sciences, comes in the face of a promise by Premier

KUALA LUMPUR: Over 400 buyers have registered themselves since IOI Properties Bhd opened its latest residential development 16 Sierra for registration this morning (Jan 12), an official of the company told theedgeproperty.com.

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.