Hunza Properties

Well Above Expectation
Hunza’s FY10 earnings came in 11% above our expectation and street’s estimates. FY10 y-o-y turnover and net profit soared 172% (26% q-o-q) and 85% (23% q-o-q) respectively.

BEIJING: China's banking regulator has told banks in Beijing to test for the impact of a plunge in property values below what is owed on mortgages, a local newspaper reported on Wednesday, Aug 18.

The order to examine any potential damage from negative equity in the real estate market is the latest effort to probe for banks' vulnerability to a crash in housing prices.

KUALA LUMPUR: MUI Properties Bhd recorded a net loss of RM180,000 for its second quarter ended June 30, 2010, dropping from a net profit of RM857,000 recorded in the same period a year ago.

The loss comes despite the company recording a higher revenue of RM6.7 million, up 21% from RM5.6 million recorded in the same period last year. 

KUALA LUMPUR: Putrajaya Perdana Bhd (PPB) posted a net profit of RM 12.47 million for its second quarter ended June 30, 2010, up 70% from RM7.28 million a year ago on the back of improved profit margins for current construction projects and road maintenance works.

KUALA LUMPUR: Penang-based Hunza Properties Bhd recorded a profit before tax (PBT) of RM18.5 million for its third quarter ended June 30, 2010, up 41% from RM12.93 million recorded in the same period last year.

The group’s revenue for the quarter rose 219% to RM73.6 million compared with RM23.05 million recorded in the same period a year ago.

KUALA LUMPUR: The long-awaited SStwo Mall in the SS2 neighbourhood of Petaling Jaya, Selangor will commence operations in the fourth quarter of 2010 instead of the third quarter, said the deputy-managing director of DTZ Tie Leung Property Consultants Sr. Adzman Shah Mohd Ariffin.

KUALA LUMPUR: Malaysian Institute of Architects (PAM) and Malaysian Chinese Muslim Association (MACMA) on Aug 16 launched the Masjid MACMA Architecture Competition, a design competition to build a mosque that is open to all corporate members of PAM.

The ceremony was officiated by Datin Seri Rosmah Mansor, wife of the Prime Minister Datuk Seri Najib Tun Razak.

HONG KONG: Shares of the city's big developers slumped yesterday after the government's tough new measures to cool speculation in the property market sparked a 50% drop in home sales over the weekend.

GEORGE TOWN: A ride in a bubble lift up to the 65th floor of Komtar to view the scenery from one of Southeast Asia's highest buildings will soon be among the attractions the 35-year-old tower will offer visitors as the state government attempts to revive one of Penang's most prominent landmarks.

KUALA LUMPUR: The Al-Hidayah Group is planning to offer 1,000 sq ft-wide office spaces in its Olive 108 mixed development, said Al-Hidayah group chief executive Ismail Mustaffa.