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Property is main China urban household asset-survey

BEIJING: Property accounts for 73.4% of the assets held by urban Chinese, according to a survey released on Friday, Sept 17.

Beijing'a Tsinghua University questioned 5,200 households in 24 major Chinese cities.

They had average assets at the end of 2009 of 406,536 yuan ($188,000) and average income last year of 50,997 yuan.

17 September, 2010
Three trends identified to reshape UK’s real estate sector

KUALA LUMPUR: Three structural catalysts has been identified by a research firm in United Kingdom that could reshape both the residential development and investment markets over the longer term in the country’s real estate sector said Savills Research director Yolande Barnes.

17 September, 2010
CIMB: LVR cap a necessary evil

KUALA LUMPUR: Strong gains in the prices of selective residential properties are starting to raise fears of a bubble hence while a lowerl loan-to-value ratio (LVR) rate for banks would be negative for the property sector, CIMB Research viewed it as a “necessary evil”.

17 September, 2010
Bina Puri bags RM95.7 milllion construction project

KUALA LUMPUR: Bina Puri Holdings Bhd’s wholly owned subsidiary, Bina Puri Construction Sdn Bhd has been awarded a RM95.7 million project in Kuching, Sarawak.

The company said on Wednesday, Sept 15 that the project known as ‘Package 4’ is a construction and completion contract of the proposed 13-storey Plaza Merdeka Commercial Complex/Hotel at Pearl Street.

15 September, 2010
Developers high-yielding bonds may carry sting

HONG KONG: The good news first: people who invested in bonds issued by newly listed China developers are getting record high interest rates. But the bad news is that the risk of losses on these bonds is mounting as the housing market shows signs of slowing.

15 September, 2010
fahrenheit88 targets over RM250m in retail sales

KUALA LUMPUR: The newly opened fahrenheit88 is targeting over RM250 million in retail sales revenue a year from its tenants, said Kuala Lumpur Pavilion Sdn Bhd retail chief executive officer Joyce Yap.

15 September, 2010
AIM to gain RM1.6m from land disposal

KUALA LUMPUR: Advance Information Marketing Bhd (AIM) stands to recieve a net gain of RM1.6 million from the disposal of its property in Shah Alam for RM6.6 million cash.

14 September, 2010
Usaha Citra demands Seloga to hold EGM for appointment of new directors

KUALA LUMPUR: Usaha Citra Sdn Bhd, a substantial shareholder of Seloga Holdings Bhd, has demanded that the group hold an EGM to appoint five new directors chosen by the former.

In a Bursa Malaysia filing on Tuesday, Sept 14, the group said that it had received a letter dated Sept 8 from Usaha Citra, requesting for the EGM.

14 September, 2010
Global average price of hotel rooms up 2%

KUALA LUMPUR: The global average price of hotel rooms rose 2% in the second quarter (2Q) of 2010 compared with rates a year earlier, due to stronger demand from both leisure and business travellers, according to Hotels.com Hotel Price Index for 2Q2010.

14 September, 2010