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Sector Update - Construction: Jobs Flow Tracker – 1Q 2010

Today, we introduce our “Construction: Jobs Flow Tracker”, which seeks to measure the momentum of contract awards. Over the 1Q10 period, some RM2.85bn worth of jobs was awarded. Domestic contracts showed a healthy 16% y-o-y increase but contracted by 38% q-o-q due to the high base effect.

Holy bubble! Churches struck down by foreclosures

UNITED STATES (U.S.): Churches emerged from previous economic downturns relatively unscathed, lenders noted. But the recent recession was preceded by an unusual boom in church building.

Hong Kong housing prices climb 7.5pc in first 3 months

HONG KONG: Hong Kong housing prices hit a 12-year high in the first quarter after increasing 7.5 per cent from the end of 2009.

The surge was powered by a combination of low interest rates, limited supply and growing confidence in Hong Kong's economic recovery, according to a housing index compiled by Centaline Property Agency.

HDBSVR: Buy Sunway Holdings at RM1.49, TP RM1.95

KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) has a Buy call on Sunway Holdings with a sum-of-parts target price of RM1.95

Sunway had on Thursday, April 1 accepted the letter of award for a RM88 million contract from KLCC Holding Sdn Bhd to build Phase 2 of Impiana KLCC Development.

Hua Yang earmarks Senawang Link as industrial hotspot

Kuala Lumpur: Hua Yang Bhd is undertaking a RM45 million commercial cum industrial development in Seremban, Negeri Sembilan, a project earmarked as an industrial hotspot for business owners seeking a strategic address and investors scouting for viable investments.

EPF must not take unnecessary risks, warns Pua

KUALA LUMPUR: DAP National Publicity Secretary Tony Pua on Thursday, April 1 urged the Employees Provident Fund (EPF) to refrain from taking unnecessary investment risks and "over-stretching" the limits of its role under the government's New Economic Model (NEM).

Brem Holdings acquires 49% stake in Topaz Teguh

KUALA LUMPUR: Brem Holdings Bhd has acquired a 49% stake in Topaz Teguh Sdn Bhd for RM1.2 million.

The 49% stake, which represents 1.9 million shares, was acquired by Brem Holdings’ unit Naga Istimewa Sdn Bhd from Hong Wey Sports Business Co Ltd, the company said in a filing to Bursa Malaysia on Thursday April 1. The acquisition will be financed through internal funds.