The expansion brings KL1’s total capacity to 900 cabinets (Image: Equinix)
Data centre giant Equinix finishes construction of a facility in Malaysia’s Cyberjaya, with that story leading today’s headline roundup. Also in the news, the US central bank leaves a key interest rate unchanged and Chinese actress Zhao Wei’s former Hong Kong home fails to sell.
Equinix Completes Second Phase of Malaysian Data Centre
NASDAQ-listed digital infrastructure firm Equinix has completed the second phase of its KL1 International Business Exchange data centre in Malaysia’s Cyberjaya tech hub.
The latest expansion adds 450 cabinets to the KL1 facility, bringing its total capacity to 900 cabinets once operational, with a power load of 2.4 megavolt-amperes, according to Equinix Malaysia managing director Cheam Tat Inn. “We have seen an encouraging momentum over the past year, with both our Kuala Lumpur and Johor facilities gaining traction among local and international businesses,” Cheam said during a media tour at the KL1 facility. Read more>>
US Fed Holds Rates Steady as Uncertainty Reigns
The Federal Reserve held interest rates steady Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the US economic outlook as its policymakers grapple with the impact of President Donald Trump’s tariffs.
At this point, Fed chairman Jerome Powell said, it isn’t clear whether the economy will continue its steady pace of growth or wilt under mounting uncertainty and a possible coming spike in inflation. Read more>>
Chinese Actress Zhao Wei’s Former Hong Kong Home Fails to Sell
A luxury duplex flat once owned by Chinese actress Zhao Wei and her ex-husband, Huang Youlong, did not find a buyer at a Wednesday auction, even after the current owner priced the property significantly below what the couple paid 13 years ago.
The reserve price for the property was set at HK$49 million ($6.3 million), a 32 percent discount to the HK$72 million paid by Zhao and Huang in 2012, according to Land Registry filings. Read more>>
China Cuts Rates Amid Moves to Boost Liquidity
China’s central bank and financial regulators announced sweeping policy steps Wednesday, including interest rate cuts, as Beijing ramps up efforts to bolster growth amid mounting trade worries.
China will cut the seven-day reverse repurchase rates by 10 basis points to 1.4 percent, People’s Bank of China governor Pan Gongsheng said at a press briefing. That will bring down the loan prime rate, the main policy rate, by around 10 basis points, the governor said. Read more>>
Gaw, Blue Mountain Raising Cash for Private Credit as Hong Kong Market Slides
As valuations fall and banks pare exposure, some private credit firms are stepping in to invest in large commercial properties and developers in Hong Kong with plans for new fund launches for one of the world’s most expensive real estate markets.
Gaw Capital Partners and Blue Mountain Bridge Capital are among those looking to launch new funds for the Asia Pacific region, including Hong Kong, despite the heightened market volatility induced by US President Donald Trump’s trade wars. Read more>>
Country Garden Borrowing $138M From Property Management Unit
The property management unit of defaulted Chinese developer Country Garden Holdings agreed to loan RMB 1 billion ($138 million) to entities controlled by chairwoman Yang Huiyan, which will then lend to the homebuilder to fund housing deliveries, according to an exchange filing on Wednesday.
Country Garden Services signed an agreement to provide Concrete Win and Fortune Warrior with a five-year revolving loan facility at 5 percent interest, secured against 543 million shares in the property management unit, the filing said. The shares represented a 16.3 percent stake worth HK$3.61 billion ($465 million) on Wednesday. Yang, once Asia’s richest woman in the Bloomberg rankings, controls both Hong Kong-listed entities. Read more>>
Hong Kong Loosens Rules for Harbour Reclamation
Hong Kong passed a law on Wednesday that made it easier for the government to create new land through reclamation in the city’s famed Victoria Harbour, despite objections from environmental activists.
Land reclamation was central to the Chinese city’s economic growth for decades, but shifting public opinion since the 1990s led to stringent legal rules that required projects to establish an “overriding public need”. Read more>>
SGX-Listed Amara Appoints Financial Advisor on Privatisation Offer
Amara Holdings has appointed W Capital Markets as the independent financial advisor overseeing the voluntary conditional cash offer by DRC Investments for $514.6 million.
On 28 April, DRC Investments, which is an entity backed by several parties including the Teo family controlling Amara Holdings, offered 89.5 cents per share to take the property and hospitality firm private. DRC Investments has already secured 90.58% of all Amara Holdings shares. Read more>>
Tune in again soon for more real estate news and be sure to follow @Mingtiandi on Twitter, or bookmark Mingtiandi’s LinkedIn page for headlines as they happen.
Leave a Reply