KOTA KINABALU: Come next year, civil servants can expect speedy approval for housing loan applications.

According to Sabah Treasury housing loan division secretary, Datuk Shuib Md Yusop, reduced approval time was possible through full implementation of the housing loan e-Form early next year.

Averting The Risk Of Mania

THE BUZZ

KUALA LUMPUR: UEM Land Bhd has proposed a conditional takeover for all of Sunrise Bhd shares at RM2.80 per offer share via a share swap or an alternative offer by the issuance of redeemable convertible preference shares.

UEM Land announced on Thursday, Nov 4 the merger would result in the enlarged group benefiting from the stronger combined asset base of over RM5 billion.

Acquire 2 pieces of land with RM1.2bn GDV

Highlights:

New projects in Jalan Ampang and Cyberjaya

News

KUALA LUMPUR: The 70% cap on home loans announced by Bank Negara Malaysia (BNM) for purchases of third homes effective Wednesday, Nov 3 is welcomed by housing developers, but a nationwide application of the measure would affect genuine house buyers, cautioned the Real Estate and Housing Developers Association (Rehda) president Datuk Michael Yam.

HONG KONG: New rules on floor area resulted in a lacklustre land auction yesterday as a luxury residential site in Kowloon Tong sold for HK$2.17 billion (RM861.14 billion) — at the bottom of the forecast range.

LONDON: St George, one of London's leading developers, will launch its latest development Dickens Yard in the country this weekend.

KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST) recorded net property income of RM31.42 million for its six-month financial period ended Sept 30, up 2.1% from a year ago.

Its gross revenue dropped 2.1% to RM47.20 million while its income after taxation declined 1.6% to RM20.59 million, and property expenses were lower by 9.6%.

KUALA LUMPUR: Sunrise Bhd posted a pre-tax profit of RM52.2 million for its first quarter (1Q) ended Sept 30, 2010, up 4% from RM50.2 million posted a year ago.

Its revenue declined 10% to RM171.3 million from RM190.3 million a year ago.