Malaysia may have less population than any province in China, but the Southeast Asian nation is set to have a major impact on the mainland’s biggest real estate developer, according to today’s headlines in the region. Also in the news, the billionaire owner of Hong Kong’s K Wah international is confident that his luck will hold out in his quest to build a Boracay casino and Vincent Lo may have found a successor at Shui On Land. Read on for all these stories and more.
Remarks by Malaysian Prime Minister Mahathir Mohamad that foreigners will be barred from buying residential units at the Forest City development in Johor has caused some confusion, with Malaysia’s Federal Housing Ministry saying it has been tasked with studying the residential agreements in the project.
Housing and Local Government Minister Zuraida Kamaruddin told reporters that what was said by Tun Dr Mahathir on Monday has not been formalised into policy. Read more>>
Guocoland Ltd has appointed Lim Yoke Tuan from Lafarge Malaysia Bhd as its new group CFO, effective yesterday.
In its filing to the Singapore Exchange Ltd, the property developer said Lim, 54, will be responsible for all financial matters, including financial reporting, taxation, risk management and treasury function of the group. Read more>>
“We all believe in the potential of Bangkok to be a global city within the next decade,” Soon Su Lin of Thai developer TCC Assets says, as the real estate company controlled by Thailand’s richest man makes progress on a 16.7 hectare mixed-use development across from downtown Bangkok’s Lumpini Park.
The One Bangkok project includes five office towers, including one of the city’s tallest, as well as shopping malls, hotels and apartments, with the first phase due to open in 2022, and the rest complete possibly around 2025 depending on demand. Read more>>
Lui Che Woo, founder and chairman of Hong Kong-based Galaxy Entertainment, is “very confident” that his company’s planned Boracay casino will be built, despite recent orders from the Philippine government.
Galaxy’s Boracay casino to push through, chairman saysIn a CNBC ‘Squawk Box’ interview with Emily Tan asking about the Boracay project, Lui said, “We are very confident. From the beginning until now, our plans have not changed.” Read more>>
Shui On Land (0272) has named Stephanie Lo Bo-yue, the daughter of Chairman Vincent Lo Hong-sui as an executive director, effective today.
Stephanie Lo, 35, is an executive director of Shui On Management Limited and the vice chairman of China Xintiandi Holding Company Limited, both subsidiaries. Read more>>