HONG KONG: Hong Kong’s government says it needs to build billions of dollars’ worth of artificial islands to give the city’s glittering skyline room to grow, but critics say developers are hoarding unused land that could solve the problem. Hong Kong’s leader, Carrie Lam, estimates the 1,111-square-kilometre city needs another 1,200 hectares, or about 12 […]
SYDNEY (March 16): The Association of Southeast Asian Nations (ASEAN) and Australia reject protectionism and embrace free trade, Australian Prime Minister Malcolm Turnbull and his Singapore counterpart Lee Hsien Loong said on Friday. “You don’t grow stronger by closing the door to other markets. Protectionism is a dead end. It is not a ladder to get you out of the low growth trap, it is a shovel to dig it much deeper,” Turnbull told a special meeting of ASEAN in Sydney. “We must face the world, not turn from it. EmbraceRead More
BEIJING, Nov 4 ― China has unveiled a massive ship described as a “magic island maker” that is Asia’s largest dredging vessel, state media reported today. The ship, capable of building artificial islands of the sort the country has…
GELANG PATAH, Aug 4 — Forest City today forged strategic alliances with 21 local and international industry players to create more opportunities for the people of Johor to be involved in the state’s economic development. Held at the Phoenix…
KUALA LUMPUR, June 28 — The US$100 billion (RM428.6 billion) city rising from the sea next to Singapore has hit a roadblock: China’s capital controls. The dream of a Malaysian version of Shenzhen — largely funded by Chinese developers and…
MANILA (April 13): Philippines’ President Rodrigo Duterte has cancelled a planned visit to an island the Philippines claims in the disputed South China Sea, after Beijing warned him against the visit.
The brash Philippine leader last week announced his plan to raise the Philippine flag in the island of Thitu and fortify it with barracks, setting off alarm bells.
“Because of our friendship with China and because we value your friendship I will not go there to raise the Philippine flag,” Duterte said in a speech before the Filipino community in Riyadh late Wednesday.
MANILA (April 10): Philippine President Rodrigo Duterte said on Monday his order to the military to reinforce areas in the South China Sea controlled by Manila was to maintain the geopolitical balance, and assured China no “offensive weapons” would be placed there.
Duterte said the Philippines wanted peace and friendship with China but his country needed to bolster what territory it had in the Spratly archipelago because “everybody’s grabbing” islands and reefs in the disputed waterway.
KUALA LUMPUR: Property developer Country Garden Holdings Co Ltd has stopped providing free flights to bring in potential buyers from mainland China to its sales gallery in Iskandar Malaysia, Johor, which previously formed part of its marketing campaign to lure investors to buy properties in its Forest City development in the Strait of Johor.
PETALING JAYA (April 6): Hong Kong-listed Country Garden Holdings Co Ltd has received enquiries from 60 buyers in China who have expressed their intention to cancel their bookings for units at the Forest City development in Johor.
According to a press release by Country Garden today, it is now in discussions with the buyers who intend to exit from the project after being caught in China’s capital controls.
KUALA LUMPUR (April 5): Country Garden Holdings has announced it will refund money to mainland Chinese buyers of its mega Forest City development in Johor.
In a report by South China Morning Post (SCMP) today, Zhu Jianmin, vice-president of Country Garden said “they can cancel the transaction and there is no need to pay a forfeit fee”.
These buyers had been caught in a horrible limbo of being unable to finance their purchases in Forest City after putting their down payments owing to the Chinese government’s efforts to crackdown on capital outflows.