KUALA LUMPUR: The One Tower commercial building along Sheikh Zayed Road in Dubai is inching past the 22nd floor as it climbs its way to the 47th floor. This iconic building is being built by Al Yasat Holdings LLC, one of the region’s leading real-estate developers.

KUALA LUMPUR: The fate of Petaling Jaya City Council (MBPJ) staff members who reportedly own low-cost housing units remains in limbo pending the completion of investigations into the matter and a final decision on the issue.

WASHINGTON: Sales of new US homes scaled their highest level in nearly two years in April, while orders for long-lasting manufactured goods surged, giving the economy a firmer foundation to resist possible contagion from Europe's debt crisis.

Below Expection
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•  Valuation: We are recommending Outperform with our target price at RM2.00 pegged to forward PER of 16X and EPS of 12.6sen.

Sustainable revenue growth
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•  Outperform: IJM Land currently sits on a well diversified landbank of 7446 acres with a gross development value (GDV) of RM24.0bn. We are recommending Outperform with target price of RM pegged by EPS of 17.7sen and forward PER of 16X.

Mah Sing Group
Spot-on 1Q10

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SINGAPORE: The Government of Singapore Investment Corp (GIC) may list its logistics business in the city-state in an IPO valued at up to US$1 billion, sources with knowledge of the deal told Reuters.

IJM Land
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KUALA LUMPUR: A combination of a stronger ringgit and the depressed economy in some regions have prompted IGB Corp Bhd to go on an acquisition trail.

IGB is planning on expanding its hospitality division by acquiring distressed hotels overseas, said its group managing director Robert Tan.