We recently met Parkson Holdings Bhd (Parkson) management to get the latest update on the company. Below is the information we gathered from the meeting:

Strong SSS growth recorded
. Parkson recorded a strong SSS (same store sales) growth in FY06/10 with +11% recorded in Malaysia, +26.9% Vietnam, and 11.3% China.

HONG KONG: Chinese property developer CJ Land Holdings is set to raise up to US$619 million (RM1.92 billion) in an initial public offering (IPO) in Hong Kong, according to a term sheet obtained by Reuters on Monday, Oct 25.

HONG KONG: For most people in Hong Kong, a flat means a nest egg, refuge, family home — and usually all these things rolled into one.

But for many wealthy mainlanders who have splashed out on some of the city's priciest apartments, they mean something quite different.

Cities only grow or die, they don’t stand still,” said New South Wales premier Kristina Keneally at the recent Forbes Global CEO Conference 2010 in Sydney.
These words continue to resonate with Bukit Kiara Properties Sdn Bhd’s managing director N K Tong, who was at the conference.

In late 1997, when Puncakdana Sdn Bhd first moved into its sales office, built on a 43-acre tract it owns on the western side of Jalan Lapangan Terbang Subang in Petaling Jaya, its only neighbour was the Putra LRT depot.
“It was so quiet. Everyday, we would see only two or three cars passing by,” recalls Mah Siew Sian, managing director of Puncakdana.

Bangsar South in Kuala Lumpur, formerly known as Kampung Kerinchi, will soon see the development of the only serviced apartments in the township. The developer, UOA Holdings Sdn Bhd, is planning to bring in a serviced residence operator to manage half of the units while the remaining units will be sold.

The Malaysian Insulation Manufacturers Group’s (FMM-MIMG) efforts to raise awareness about the benefits of mineral wool insulation for Malaysian homes have seen some measure of success.

What housing crash? Early findings of an upcoming survey being published by the US-based non-profit education and research organisation the Urban Land Institute (ULI) suggest that the Echo Boomer generation, or Gen Y, holds the American Dream highly — despite the housing market collapse — with the majority of respondents expecting to own homes within five years.

When real estate entrepreneur Goodwin Gaw of Gaw Capital saw the derelict Capitol Theatre on the corner of Stamford and North Bridge Roads, which screened its last movie in December 1998, he had an “aha” moment.

Fitters Diversified Bhd, a fire protection specialist, has embarked on its maiden property development project ­—  ZetaPark — in Jalan Genting Klang in Setapak, Kuala Lumpur.