KUALA LUMPUR: The re-imposition of the real property gains tax (RPGT) will not severely affect the property market, says Valuation and Property Services Department Director-General Datuk Abdullah Thalith Md Thani.

He says the local property market was still very much a "buyers' market" and the RPGT, to be reinstated on Jan 1, 2010, actually affected sellers.

JOHOR BARU: The Naza Talyya Hotel here is aiming for a 20% increase in occupancy rate in the coming new year following its completion of an upgrading exercise.

An estimated RM18 million has been invested by the Naza Hotels Management group on their rebranding exercise.

KUALA LUMPUR: Glomac Bhd posted net profit of RM9.3 million for its second quarter ended Oct 31, up 20.5% from the RM7.72 million a year ago.The property developer said on Tuesday, Dec 22 revenue fell 16.8% to RM75.63 million from RM91 million.

SHAH ALAM: Bukit Botak settlers must get a developer to pay back RM48 million incurred by the Selangor State Development Corporation (PKNS) to build roads in the area if they object to land acquisition by the
state government.

KUALA LUMPUR: Gamuda Bhd posted stronger set of earnings in the first quarter ended Oct 31, with net profit at RM63 million, up 14.5% from RM55.04 million a year ago, due to higher contributions from all divisions.

The infrastructure-based company said on Tuesday, Dec 22 that revenue was marginally higher by 1.63% at RM623.96 million from RM613.96 million.

KUALA LUMPUR: Kumpulan Jetson Bhd (KJB) and TTDI KL Metropolis Sdn Bhd (TKLM) have entered into a shareholders’ agreement to facilitate the joint venture agreement between them to carry out the planning, design, and construction including interior design work for the new Matrade Centre on Jalan Duta, Kuala Lumpur.

KUALA LUMPUR: The Malaysian property market will experience a slow and steady recovery in 2010 in line with the anticipated improvement of the country’s economy next year.

SEREMBAN: Eighteen of 86 infrastructure projects under the Health Ministry were not completed and regarded as "sick projects" said Health Minister Datuk Seri Liow Tiong Lai.

KUALA LUMPUR: Malaysia Pacific Corporation Bhd (MPCB) is eyeing more joint-ventures to fund its RM4 billion development project, namely the Asia Pacific Trade & Expo City (APTEC) and LakeHill Resort City.

Located within Iskandar Malaysia, Johor, the projects are due for construction next year, said President and Chief Executive Officer Bill C.P Ch'ng.

KUALA LUMPUR: Proceeds from the sale of public housing units under the National Economic Action Council (NEAC) will be used to develop the under-developed areas either in Kuala Lumpur or elsewhere, the Dewan Negara
was told on Dec 22, 2009.