Economic update (AmResearch)
1Q GDP on high growth track for 2010
Investment Highlights
Latest
City Developments Ltd (AmFraser); maintain buy; fair value: S$12.72
Sibu’s flood of wealth
Pan Pacific Hotels aims to expand in China
KUALA LUMPUR: Pan Pacific Hotels Group, a Singapore-listed hotel subsidiary of UOL Group Ltd, wants to expand to more than 10 Chinese cities over the next five years. It currently has a presence three cities but expects demand from travellers to grow rapidly, reports the ShanghaiDaily.Com.
Sunrise Bhd (AmResearch); maintain buy; fair value: RM3.06
Stronger unbilled sales of RM907mil
Sunrise Bhd (OSK Research); neutral; target price RM2.27
Below Expectation
Sunrise Bhd (ECM Libra); maintain buy, target price RM3.58
3QFY10 : A slower quarter
OSK RESEARCH: ECONS-Short-lived Growth Euphoria?
Malaysia: Short-lived Growth Euphoria?
Japan Properst says filed for bankruptcy protection
TOKYO: Japanese real estate developer Properst Co said on Friday, May 14, it had filed for bankruptcy protection with ¥55.4 billion (RM1.9 billion) in debt after a drastic restructuring failed to offset weak condominium sales.
The announcement came as Japan's property market starts to recover after a prolonged slump in prices and demand in the wake of the global financial crisis.
Shanghai steps up land sale to curb property prices
SHANGHAI: The Shanghai municipal government is putting up nearly 40 lots of land for sale in a week, the city's most extensive land sale ever, as it moves to curb housing prices by increasing available supply, the China Securities Journal said on Friday, May 14.
