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.

TAIPEI: Taiwan's Farglory Group will develop an estimated $1 billion (RM3.08 billion) hotel and residential project in Abu Dhabi's new financial district in partnership with the emirate's state fund, a source close to the situation said on Wednesday.

KUALA LUMPUR: Bank Negara Malaysia is imposing with immediate effect the maximum loan-to-value (LTV) ratio of 70% for the third house financing facility taken by a borrower as it seeks to curb "excessive investment and speculative activity in the residential property market".

KUALA LUMPUR: The Association of Banks in Malaysia (ABM) said Bank Negara Malaysia’s (BNM) move to impose a maximum loan-to-value (LTV) ratio of 70% for the third housing financing facility taken by a borrower as “timely and pre-emptive” in nature.

KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) posted net profit of RM9.73 million for its third quarter (3Q) ended Sept 30, 2010, marginally higher than its RM9.59 million profit posted a year ago.

The increase was attributed to the application of accounting standard FRS 117, which came into in effect January 1, 2010, said the trust on Wednesday, Nov 3.

HANOI: The Vietnam Architecture Association has launched a design competition challenging domestic and overseas Vietnamese architects to come up with an innovative idea for building houses in flood-prone areas, Vietnam News Agency reported.

In particular, the central and the Mekong Delta regions will be targeted.

KUALA LUMPUR: The property market in Dubai showed a drop rental and sale prices for apartments, villas and offices for the third quarter (3Q) from the previous quarter (2Q), a report said.

KUALA LUMPUR: Mah Sing Group Berhad has acquired two parcels of land in Ampang and Cyberjaya with a combined gross development value (GDV) of about RM1.2 billion.

PUCHONG: SP Setia Bhd, the developer of boutique lifestyle development SetiaWalk, is confident of leasing out at least 80% for the project's mall component in time for its launch in the first quarter of 2012, said its divisional general manager Wong Tuck Wai.

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