KUALA LUMPUR: The Memorandum of Understanding (MoU) for a proposed joint venture (JV) agreement between Sycal Properties Sdn Bhd and Global Net Communications Sdn Bhd has been extended to Jan 31, 2010.

The MoU was initially announced by Sycal on June 16, 2008 and its latest extension was announced today (Nov 25, 2009) on Bursa Malaysia

KUALA LUMPUR: Dijaya Corp Bhd announced on Nov 25 that its subsidiary Dijaya Development Sdn Bhd had on Nov 24 entered into a Sales and Purchase Agreement with Mercury Property Management Sdn Bhd for a plot of vacant freehold commercial land on Jalan Ampang.

SHAH ALAM: The Selangor State government has directed the Ampang Jaya Municipal Council (MPAJ) today (Nov 25) to write to the Works Ministry for permission to release the contents of the Bukit Antarabangsa landslide investigations report.

KUALA LUMPUR: The first tower out of four of the Verve Suites development, Viva, was handed over to homeowners recently. Developed by Bukit Kiara Properties (BKP), it is touted to be the first completed fully furnished designer suites of its kind in Mont’Kiara, Kuala Lumpur -- and possibly Malaysia.

KUALA LUMPUR: Malaysia has a need for exhibition space and Naza TTDI Sdn Bhd’s proposal was too good to turn down.

KUALA LUMPUR: The commercial component of the mixed Subang Central 1 development in Subang, Selangor, has achieved a 90% take-up rate, according to developer Gaya Irama Development Sdn Bhd.

KUALA LUMPUR: More merger and acquisition (M&A) activities by several major pharmaceutical companies are anticipated following a slew of property asset consolidation and cost-cutting measures, according to a commercial real estate services firm.

SYDNEY: Australia’s economy has entered a “new upswing” that will last for several years, helping the nation’s households fund mortgage costs, said Ric Battellino, deputy governor of the central bank.

TOKYO: Japan property shares fell to a six- month low after developer Anabuki Construction Inc filed for bankruptcy with ¥140 billion (RM5.34 billion) in debt, the nation’s fifth-largest corporate failure this year.

EDINBURGH: First it was corporate bonds, then stocks. Now it’s time to buy commercial real estate in the UK, according to strategists in Edinburgh advising on about £400 billion (RM2.24 billion) of assets.