KUALA LUMPUR: Land & General Bhd (L&G) recorded a net profit of RM1.39 million for its first quarter (1Q) ended June 30, 2010, down 83.7% from RM8.54 million posted for the same period a year ago.

Revenue for the quarter under review stood at RM6.01 million, which is marginally lower than revenue RM6.11 million posted for the same period a year ago.

KUALA LUMPUR: Bina Goodyear Bhd posted a net loss of RM8.83 million for its financial year ended June 30, 2010, (FYE 2010) on the back of revenue of RM311.6 million.

Comparatively, the company posted a net loss of RM24.2 million for FYE 2009, on the back of revenue RM333.7 million.

KUALA LUMPUR: Straits Quay retail mall, developed by Eastern & Oriental Bhd (E&O) in its Seri Tanjung Pinang development in Penang, is scheduled for opening by end-November, E&O executive director Eric Chan said.

BEIJING: Agricultural Bank of China will halt all lending to property developers for the remainder of the month, three sources familiar with the decision told Reuters on Wednesday.

The bank, China's third biggest by asset value, will resume lending to developers in September, the sources said

KUALA LUMPUR: Ho Hup Construction Company Bhd posted a pre-tax loss of RM8.3 million for its second quarter (2Q) ended June 30, 2010, on the back of revenue of RM8.8 million.

Comparatively, the company recorded a pre-tax loss of RM7.8 million on revenue of RM30.5 million in the corresponding quarter last year.

HONG KONG: Asian investors are expected to be the dominant cross-border investors in Asia Pacific in the second half (1H) of 2010, according to Jones Lang LaSalle's (JLL) latest Global Market Perspective.

HONG KONG: Asia-Pacific commercial property markets offer higher returns to investors than cities in Europe, though generally lower than those in the United States, property consultant DTZ said.

HONG KONG: For Hong Kong property developer Tony Yau Tang-tit, being the brother of a senior government official can have its drawbacks.

HONG KONG: Property transactions have dropped despite the better-than-expected sale of two residential sites at a government auction last Tuesday, Aug 17.

Only 40 flats in the primary market were sold at the weekend — a decline of 7% from the previous week — as sentiment was affected by the latest government measures to cool the market, analysts said.

HONG KONG: Residential rents are expected to rise because of the government's measures to cool the housing market.