Sunrise Bhd

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.

KUALA LUMPUR: The anticipated increase in demand for construction raw materials, with the rollout of major construction projects this year, will not lead to spiralling prices, said Master Builders Association of Malaysia (MBAM).

MBAM president Ng Kee Leen said the country’s liberalised cement and steel sectors would help improve supply to meet any demand surge.

KUALA LUMPUR: Property developer Talam Corp Bhd is on track to emerge from its PN17 status, even as its debt regularisation plan was being delayed by prolonged negotiations on assets disposal, said its executive director Chua Kim Lan.