KUALA LUMPUR: Mahajaya Bhd reported an increase in net profit by 54% to RM1.789 million from RM1.161 million a year ago for its first quarter (1Q) financial results ended Sept 30, 2010, the group announced on Monday, Nov 29.

Revenue earned during the same period fell by 24% to RM34.964 million from RM45.771 the previous year.

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) recorded a drop of 56% in net profit to RM5.085 million from RM11.511 million a year ago for its second quarter (2Q) financial results ended Sept 30, 2010, the group announced on Monday Nov 29.

Revenue for the same period dropped by 43% to RM65.814 million from RM114.759 million a year ago.

KUALA LUMPUR: Bina Goodyear Bhd achieved net profit of RM291,000 from a net loss of RM6.067 million a year ago for its first quarter (1Q) financial results ended Sept 30, 2010, the group announced on Monday, Nov 29. Revenue dropped by 37% to RM62.746 million from RM99.592 million the previous year.

KUALA LUMPUR: Ekovest Bhd recorded a drop in net profit for its first quarter (1Q) financial results ended Sept 30, 2010 of 52% to RM1.005 million from RM2.094 million a year ago, the group announced to Bursa Malaysia on Monday Nov 29.

Revenue earned during this same period dropped by 60% to RM21.255 million from RM52.918 million the previous year.

KUALA LUMPUR: Mah Sing Group Bhd recorded a 26% year-on-year increase in profit after tax and minority interest (PATMI) for 3Q2010 with nearly RM30 million, the Groups said in a press release on Monday, Nov 29. Revenue earned in the same quarter was about RM283 million.

KUALA LUMPUR: UBG Bhd achieved a net profit hike of 88.7% to RM13.831 million from RM7.329 million a year ago for its third quarter (3Q) results ended Sept 30, 2010, the group announced on Monday Nov 29. Revenue earned during the same period increased by 1.92% to RM257.657 million from RM252.794 million a year ago.

LONDON: Despite the gloomy prognosis on the prospects ahead for the UK residential market, there is a growing acknowledgement that prime London real estate bears little correlation with the rest of the UK. Rather, these are two markets subject to different forces and any idea of a "ripple effect" is outmoded.

LONDON: Guoson Centre, the flagship project of GuocoLand (China) Limited (GLC) has won "Best International Mixed-use Development" at the International Property Awards in association with Bloomberg Television 2010.

SYDNEY: Lower sales of new homes in Australia over the last three months to October, combined with other important housing indicators, are foreshadowing a housebuilding downturn next year, said the Housing Industry Association (HIA) on a statement on Monday, Nov 29.

1) Market capitalisation
Winner: UEM Land-Sunrise
Market size is important to attract investor interest, particularly given Malaysia's two-tier market where institutional funds are heavily drawn to larger stocks and the FBM KLCI is currently bereft of property representation.