An attractive yield play. AAREIT’s 9M10 RM31.3m realised net profit (+38% YoY) was as we expected, but above consensus. We continue to like AAREIT for its attractive 8.9% 2011 yield (vs.

• Naim Holdings Bhd announced on Bursa Malaysia yesterday evening that the group has received an award from the Kuching Works Department for an infrastructure contract at Bengoh Dam in Kuching, Sarawak.

• The contract is worth about RM168mil, involving the designing and building of a resettlement scheme following the near completion of the dam.

• Sunway City Bhd (SunCity) announced yesterday that it had signed a deal with Sino-Singapore Tianjin Eco City Investment and Development Co Ltd (SSTEC) for the joint development of several plots of land in Tianjin, China measu

KUALA LUMPUR: In a historic moment, Prime Minister Datuk Seri Najib Tun Razak and his visiting Indian counterpart, Dr Manmohan Singh, Wednesday launched Little India, Kuala Lumpur's Indian enclave in Brickfields.

Both leaders unveiled a fountain, symbolising the launch of the event which strengthened their close government-to-government and people-to-people relations.

KUALA LUMPUR: Property developer Plenitude Bhd planned to launch seven projects — valued at about RM400 million in total — in its financial year ending June 30, 2011 (FY2011).

HONG KONG: Secondary-market sales were up last week as buyer confidence continued to improve in the wake of Chief Executive Donald Tsang Yam-kuen's policy address on Oct 13.

Property agents said buyers were back in the market because the policy address did not contain any tough new measures aimed at curbing property demand or price growth.

HONG KONG: A growing number of homebuyers in China are defaulting on purchase agreements and forfeiting deposits because they fear tougher policy settings will trigger a sharp fall in property prices, estate agents say.

SHANGHAI: With supply of grade A office space in Shanghai surging and rentals under downward pressure, some tenants are moving into more prestigious addresses from office buildings on the fringes of the core business district.