KUALA LUMPUR: Mah Sing Group Bhd said it has on Dec 23 obtained the approval of Bank Negara for shareholder’s advance to its wholly-owned subsidiary, Mah Sing International (HK) Limited, to subscribe shares in its newly- incorporated wholly-owned subsidiary Mah Sing Property Consulting (Changzhou) Pte. Ltd.

KUALA LUMPUR: Mah Sing Group Bhd, via its wholly owned subsidiary Star Residence Sdn Bhd entered into a sale and purchase agreement (SPA) with investment holding company T.S. Law Realty Sdn Bhd for the en bloc sale of the East Wing of The Icon@JalanTun Razak for RM226.5 million cash Dec 24.

KUALA LUMPUR: The property market will benefit from the real property gains tax (RPGT) amendment announced by the government yesterday, the Real Estate and Housing Developers' Association Malaysia (REHDA) said Dec 24.

SHANGHAI: A record price for housing land in mainland China transacted in Shanghai yesterday, Dec 23, according to Colliers International's Shanghai Market Beat quoting Shanghai Daily.

MOZAMBIQUE: Almost 310,000 square meters (31 hectares) of Mozambique land was cleared this year of landmines left during the 16 year old civil war using pouched rats, said Belgian demining company Apopo, which is heading the project.

Record prices being paid for development sites on the mainland have heightened concerns that Beijing will introduce new measures to cool the property market.A high-end residential site in Shanghai's Xin Jiang Wan Cheng district was sold to China State Construction Engineering Corp yesterday for 3.72 billion yuan (HK$4.22 billion), or 32,484 yuan per square metre, the highest unit price for a ma

KUALA LUMPUR: The revision of the real property gains tax (RPGT) from the sale of property  regardless of the year of acquisition is the perfect Christmas gift to the property market.

ECM Libra Investment Research said the toning down by the government from its earlier proposal would provide a much-needed relief to the sector.

PUTRAJAYA:  The real property gains tax will now only be applicable to properties that are sold within five years of their purchase, Prime Minister Datuk Seri Najib Tun Razak announced Dec 23.

DUBAI: The Malaysia External Trade Development Corporation (Matrade) is taking steps to help some Malaysian companies overcome problems of late payments from Dubai developers and clients.

KUALA LUMPUR: Sunway Developments Pte Ltd, a unit of Sunway Holdings Bhd, has entered into a joint-venture agreement with Hoi Hup Realty Pte Ltd to set up Hoi Hup Sunway Property Pte Ltd.

The proposed joint venture would undertake a residential property development project on a parcel of freehold land in Singapore.