KUALA LUMPUR: Shanghai’s new home sales fell 23% to 65,000 sq m in the week that ended June 20, 2010 compared to the previous week, said property consultant Shanghai UWin Real Estate Information Services Co in an email statement on Tuesday, June 22.

BEIJING: The Fu river in Jiangxi province burst through a protective embankment late on Monday, and officials scrambled to plug the breach and move residents living near the Changkai dyke, Xinhua news agency said, citing local officials.

BEIJING: China should launch a property tax to cool the housing market, which remains dangerously over-priced, a state think tank said in a report published on Tuesday, June 22.

KUALA LUMPUR: DFZ Capital Bhd posted a net profit of RM23.28 million in the first quarter ended May 31, 2010, a 152% increase from RM9.2 million a year earlier.

The profit was attributed to contributions from the newly acquired subsidiaries, Tenggara Senandung Sdn Bhd and Seruntun Maju Sdn Bhd.

KUALA LUMPUR: Bolton LYL Sdn Bhd, an indirect unit of Bolton Bhd, has terminated the proposal to acquire a 5.5-acre parcel of land in Kuala Lumpur for RM39 million from Intrapuri Sdn Bhd.

KUALA LUMPUR: Selangor Properties Bhd posted net loss of RM25.62 million in the second quarter ended April 30, 2010 due to a foreign exchange loss of RM38.8 million as the ringgit strengthened against the Singapore dollar, US dollar and Australian dollar.

MELBOURNE: Affordability will remain an issue for the residential market in Melbourne, as the average first-home buyers' loan peaked at over AU$279,000 (RM785,421) in the previous two months from AU$275,000 in February this year, according to CB Richard Ellis (CBRE)’s second quarter 2010 MarketView report on the residential sector.

KUALA LUMPUR: UDA Holdings Bhd would commence construction to redevelop the Pudu Jail site by the first quarter of 2011 (1Q2011) with the project to be built in stages over 10 years, Deputy Finance Minister Datuk Awang Adek Hussin told the Dewan Rakyat.

SINGAPORE: RiskMetrics, an independent advisory firm, on Monday, June 21, recommended that Parkway investors approve a proposal allowing a partial takeover bid by Malaysian sovereign wealth fund Khazanah.

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