KUALA LUMPUR: Ho Hup Construction Co Bhd has sought an extension of four more months until Aug 4 to submit its regularisation plan.

The company said it had on Tuesday, March 30 applied to Bursa Malaysia Securities for the further extension to submit the plan under the provision of Practice Note 17 of Bursa Securities’ Listing Requirements

ABU DHABI: Chairman of Abu Dhabi National Hotels (ADNH) H.E. Saif Mohammed Al Hajri has announced the opening of the newest and largest water hotel in Abu Dhabi by the end of this year, Emirates news agency said on March 30.

KUALA LUMPUR: Crescendo Corp Bhd saw its net profit for the fourth quarter ended Jan 31, 2010 (4QFY2010) drop 47.4% to RM3.43 million, from RM6.5 million on lower revenue.

Meanwhile, its revenue for the quarter fell 20.3% to RM43.23 million, from RM53 million due to lower sales of industrial properties and concrete products.

KUALA LUMPUR: GCH Retail (Malaysia) Sdn Bhd will be spending RM12 million to set up its first Giant hypermarket in Miri, Sarawak within Permy Mall in Bandar Baru Permyjaya.

Its chief operating officer Tom Herriott said the hypermarket is expected to open in 3Q2010 when the mall opens.

KUALA LUMPUR: The prowess of real estate markets in China has not gone unnoticed as the major emerging economy continues gaining momentum against a backdrop of a gradually improving global landscape.

HONG KONG: The housing market here seldom sleeps, as Louis Leung and his wife know all too well.

It was not until 11.55pm on Friday (March 26), nearly 11 hours after they began, that they signed a preliminary agreement to buy a 980 sq ft flat for HK$9.6 million at Festival City, a joint venture of Cheung Kong (Holdings) and MTR Corp in Tai Wai near Sha Tin.

HANOI: The Lion Group plans to open more Parkson shopping centres in Vietnam, to maintain the chain's development as well as expand their retail network, according to Vietnam news agency on March 30.

The group currently manages 82 Parkson stores, with five in Vietnam, 42 in China and 35 stores in Malaysia.

IGB Corp: Lack of new launches a disappointment

We have downgraded IGB Corp Bhd (IGB) from BUY to HOLD and cut our fair value to RM2.20/share from RM2.80/share based on a 45% (previously 30%) discount to our NAV estimate at RM4.00/share. Historically, IGB has traded at 50% discount to its NAV.

S P Setia: Venturing “Down Under”

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