KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) saw its net profit shrink by 63% to RM3.6 million for its third quarter (3Q) ended Sept 30, 2010 from RM10.01 million a year ago, despite slightly higher revenue.

Its revenue increased by 5.3% to RM270.91 million from RM257.11 million, said in a filing to Bursa Malaysia on Monday, Nov 22.

KUALA LUMPUR: Plenitude Bhd's net profit surged 72.3% to RM20.24 million for its first quarter ended Sept 30, 2010, from RM11.74 million a year ago, underpinned by higher revenue.

The group had posted turnover of RM77.08 million, representing a 33% increase from RM57.95 million, according to a filing to Bursa Malaysia on Monday, Nov 22.

BEIJING: Some of China's top trust companies have halted property-related lending and investment following a regulatory order, four sources told Reuters on Monday, Nov 22.

HONG KONG: The government slapped additional stamp duty on property speculation last Friday, Nov 19 in a desperate move to rein in rampant home-price inflation. The monetary authority lowered the mortgage ratio for costlier flats.

HONG KONG: To nature lovers, Hong Kong's countryside is priceless. But to the government and the courts, its value seems to be much lower. Depending on the case, penalties for environmental offences can range from no fine at all to just a few hundred dollars.

HONG KONG: The head of an influential think tank says property sellers who engage in speculative activities should be made to pay hefty stamp duty.

Anthony Wu Ting-yuk, chairman of the Bauhinia Foundation Research Centre, said the government should impose a new stamp duty on apartments that are sold within six months to one year after they were last purchased.

SHANGHAI: Policy risk is driving both developers and foreign investment funds away from China's residential market and towards commercial property, say analysts.

And it is a trend that, once under way, could continue for several years.

Condominium launches at Eastern & Oriental Bhd’s (E&O) Seri Tanjung Pinang development in Penang have been setting benchmark prices for luxury condos on the island.

With the completion of CapSquare Tower in Kuala Lumpur, Union Investment Real Estate GmbH is looking to follow up on its maiden foray in property investment in Malaysia.

The Summit USJ is a 12-year-old landmark mixed development on the fringes of the mature USJ township in Subang Jaya. Following its injection into AmFIRST Real Estate Investment Trust (AmFIRST) two years ago, it has slowly been shedding its quiet, rundown image.