HONG KONG: New mortgage loans approved in Hong Kong in May rose by 34.3% from a year earlier and increased 0.1% in value terms from April, figures from the Hong Kong Monetary Authority (HKMA) showed.

New loans approved in May totalled HK$37.8 billion (RM15.6 billion), the HKMA said on Monday, June 28.

Gamuda

9M10 below expectations

SINGAPORE: Singapore welcomed 30.3% more visitors in May than the same month a year ago as the city-state's two new casinos helped draw in tourists.

The Singapore Tourism Board said on Monday that 946,000 people visited the city-state last month, up from 939,000 in April and 726,000 in May 2009.

BEIJING: Mainland authorities scrambled on Sunday to repair water defences shattered by relentless rain, state media said, after flood-related disasters claimed the lives of 235 people this month.

KUALA LUMPUR: With spacious rooms, the availability of round the clock hours services and a similarity to the modern home lifestyle, it is no surprise that serviced apartments will be one of the fastest growth markets in Malaysia.

Frasers Hospitality Pte Ltd chief executive officer Choe Peng Sum said many players including hotel owners see the opportunities offered in this market.

KUALA LUMPUR: CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM) plans to inject more properties into the soon-to-be-listed CapitaMalls Malaysia Trust (CMMT), CMRM's chief executive Sharon Lim said.

KUALA LUMPUR: All 147 units of terraced homes within Desa ParkCity in Kuala Lumpur, known as Casaman, were sold out within five hours on Saturday, June 26. Over 650 registrants turned up for the balloting, which started at 8.30am, some even as early as 5am.

The countdown to the adoption of IFRIC 15 has begun. From July 1, developers are to recognise revenue only upon the completion of a project instead of the current percentage-of-completion method. Can IFRIC 15 work for Malaysia where most properties are sold off the plan? Ironically, the Inland Revenue Board will continue to tax developers based on the current accounting method.

The crowds are back at Klang Valley shopping malls, which had been hit by the global financial crisis not too long ago.In anticipation of better times ahead, the managements of the more popular malls are raising rental rates.Rates levied on retailers ­— which are confidential going by industry practice — vary significantly, depending on factors such as the location and size of a store.Ultimatel

Malls in Kuala Lumpur city have recovered from a year ago with business picking up, especially in the last three months, for the likes of Suria KLCC, Pavilion Kuala Lumpur and Berjaya Time Square, says CB Richard Ellis (Malaysia) Sdn Bhd  (CBRE) managing director Allan Soo.Equally bullish about the retail outlook this year is managing director of Henry Butcher Retail Tan Hai Hsin who predicts t