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Free holidays, rail passes as Hong Kong developers push sales

HONG KONG: Developers in Hong Kong are offering perks such as free rail tickets and early move-in dates in a further sign one of the world’s hottest property markets may finally be cooling.

Malaysia’s top 40 richest people

LAST year was dotted by the return of higher commodity prices and better economic growth. The world’s economies on average are back in business as growth rates and trade have started to improve once again after some period of uncertainty caused by a cooling China economy and also the slump in global crude oil prices.

Top 40 richest in Malaysia: 1-5

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HNA pays US$1.1bil for former Hong Kong airport site

HONG KONG: A unit of HNA Group Co outbid Hong Kong developers including Cheung Kong Property Holdings Ltd with an HK$8.84bil (US$1.1bil) offer for government land in the former Kai Tak airport area, the highest price tag in three-and-a-half years.

Kerry Properties to pay US$940mil for HK land

HONG KONG: Kerry Properties Ltd outbid Hong Kong giants Cheung Kong Property Holdings Ltd and Sun Hung Kai Properties Ltd with a HK$7.3bil (US$940mil) offer for government land in the territory’s Kowloon district, the highest price in 3½ years.

Goldman Sachs downgrades HK property, sees 20% drop in prices

HONG KONG: Hong Kong property stocks were downgraded by Goldman Sachs Group Inc, which predicts a 20% decline in home prices as borrowing costs rise.

The drop would be “driven chiefly” by a potential 150 basis points to 200 basis points increase in interest rates and the “limited prospect of any loosening of government cooling measures in the near term,” Goldman Sachs property analyst Justin Kwok said in a research note.

Kuok is Forbes’ richest

PETALING JAYA: Tycoon Tan Sri Robert Kuok continues to occupy the top spot on the Forbes’ Malaysia’s rich list for the 11th straight year with a net worth of US$10.3bil (RM43.3bil) amidst a difficult year for businesses.

Kuok’s US$380mil POSH deal to lift S'pore IPO market

SINGAPORE: PACC Offshore Services Holdings (POSH) has launched the bookrunning process for a Singapore IPO that could raise up to US$380mil – a boost to the city-state's stock market which has seen just one other major main board listing so far this year.

Kerry Logistics hopes to raise RM787mil in HK IPO, CIMB bookrunner

PETALING JAYA: CIMB Bank is one of the joint bookrunners for the upcoming Kerry Logistics Networks’ initial public offering (IPO) in Hong Kong, which is looking to raise between US$245mil (RM787mil) and US$284mil (RM913mil), according to a report in Finance Asia.

Robert Kuok still rooted to Malaysia despite spending 40 years in Hong Kong

THERE is a bit of a romantic streak in South-east Asia's richest man, it seems.

Tan Sri Robert Kuok.

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