DECEMBER 26 -- Country Garden Holdings (2007.HK) plans to spend an initial 110,000 yuan to set up a joint venture with Malaysian property developer, Mayland, to develop property in Malaysia, reports yicai.com, citing a company filing.

Country Garden will have a 55 percent stake in the joint venture, with the remainder to be held by Maryland.

Country Garden said it is optimistic about the real estate market in the South-east Asian country.