Local investors back in the market for big deals
HONG KONG: Local investors have replaced foreign investment funds to become the most active players in Hong Kong's large lump-sum property investment market.
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KL office market to remain soft for rest of the year
KUALA LUMPUR: The Kuala Lumpur office market is expected to remain soft for the next six months, according to a research report by YY Property Solutions in association with Cushman & Wakefield.
Rental rates are facing downward pressure even for some of the prime office buildings, stated the KL Office MarketBeat report for 2Q2010 on Tuesday, July 27.
BNM gives go ahead for SHB to issue warrants
KUALA LUMPUR: Bank Negara Malaysia (BNM) has given the green light for property and construction outfit Seloga Holdings Bhd (SHB) to issue warrants under its proposed rights issue to entitled shareholder of the group, who may be non-residents.
The company said on Tuesday, June 27, that the central bank had given the nod in a letter dated July 23, which it had received today.
HK June mortgage loan approvals fall 7.8% y-o-y
HONG KONG: New mortgage loans approved in Hong Kong in June fell 7.8% from a year earlier and decreased 6.2% in value terms from May, figures from the Hong Kong Monetary Authority (HKMA) showed.
New loans approved in June totalled HK$35.4 billion (RM14.5 billion), the HKMA said on Tuesday, July 27.
Month-on-month figures are not seasonally adjusted.
RHB IB acquires more SunREIT units, brings total to 42m
KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB) has purchased another 59,000 units in Sunway Real Estate Investment Trust (SunREIT) on Monday, July 26 for 90 sen each, it announced on Bursa Malaysia on Tuesday.
In total, it had acquired 41.81 million SunREIT units since July 8, according to Bursa filings.
REIT growth is key to capital gains
KUALA LUMPUR: The Edge Financial Daily on Monday, July 26 wrote on the weak price performance of the two newly listed Real Estate Investment Trusts (REITs) — Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT).
Milux's unit sells land for RM11m
KUALA LUMPUR: Milux Corp Bhd's wholly owned subsidiary TH Hin Sdn Bhd entered into a sale and purchase agreement (SPA) with Albert Wines & Spirits (M) Sdn Bhd on Monday, July 26 to dispose of a piece of vacant land in Kota Damansara, Petaling Jaya, for RM10.98 million.
Bina Darulaman 2Q profit up 4%
KUALA LUMPUR: Bina Darulaman Bhd's net profit for the second quarter ended June 30, 2010 (2QFY10) rose 4% to RM3.25 million from RM3.12 million a year earlier while revenue fell 32% to RM33.81 million from RM49.98 million.
PLB optimistic it will be back in the black for FY10
BUTTERWORTH: PLB Engineering Bhd expects to be back in the black in the current financial year ending Aug 31, 2010 as it focuses more on property development, said group executive chairman Datuk Ong Choo.
He said the company would be launching several new property deprojects with a total gross development value (GDV) of RM400 million over the next four years in Penang.
Shimao Property says plans to sell dollar bond
HONG KONG: Chinese developer Shimao Property Holdings said on Tuesday, July 27 it hired banks to help arrange a series of meetings with investors ahead of a planned dollar bond issue.
HSBC, Morgan Stanley and Standard Chartered Bank were hired for the proposed bond sale, the company said in a statement to the Hong Kong stock exchange.
