Latest

Indian property IPOs face perfect storm

MUMBAI: High prices and rising mortgage rates are hurting demand in India's once-booming housing market, jeopardising a pipeline of about US$6 billion (RM18.54 billion) in initial public offerings (IPOs) from Indian property companies.

23 September, 2010
Stricter regulations for development on slopes in FT

KUALA LUMPUR: Stricter and more comprehensive regulations will be imposed on developers and the appointment of certified independent inspectors will be included in a guideline for development on high-risk slopes in the Federal Territory.

23 September, 2010
Al-Aqar KPJ REIT to acquire Australian property for RM134.9m

KUALA LUMPUR: Al-Aqar KPJ REIT plans to acquire Jeta Gardens Aged Care Facility and Jeta Gardens Retirement Village (“Properties”) from Jeta Gardens Waterford Trust for a total purchase price of Australian dollar equivalent to RM134.9 million. The REIT announced this in its filing on Wednesday, Sept 22.

22 September, 2010
Selayang Spring to launch 2nd phase in October

KUALA LUMPUR: The second phase of Selayang Spring in Selayang, Selangor comprising apartments and a lifestyle mall will be launched mid-October. 

The development's marketing agent, REI Properties Sdn Bhd's CEO, Dr Daniele Gambero, said Phase 2, also known as 'Cedar' has a gross development value (GDV) of RM115 million.

22 September, 2010
TA Global records net profit of RM7.4m in 2Q

KUALA LUMPUR: TA Global Bhd recorded a net profit of RM7.41 million compared with RM5.51 million a year ago for its 2Q financial results ended July 31, 2010.

The company announced to Bursa Malaysia on Wednesday, September 22 that revenue earned during the quarter was RM83.11 million compared with RM86.64 million a year ago.

22 September, 2010
Change in revenue recognition sees Mutiara Goodyear record 1Q loss of RM3.3mil

KUALA LUMPUR: Mutiara Goodyear Development Bhd recorded a net loss of RM3.26 million for its first quarter (1Q) financial results ended July 31, 2010 compared with a net profit of RM1.42 million a year ago.

The Group, in its filing with Bursa Malaysia on Wednesday, Sept 22, attributed this to the adoption of IC Interpretation 15 of revenue recognition.

22 September, 2010
Tourism Malaysia makes strong pitch in Frankfurt for MM2H programme

FRANKFURT: Tourism Malaysia, which is making a big push for its Malaysia My Second Home (MM2H) Programme to Europeans, made a strong pitch at a seminar in Frankfurt Monday night for the MM2H programme before a large German audience that included not only retired pensioners but also business entrepreneurs, government officials, professionals and others under 50, some of whom had come from as far

22 September, 2010