Mah Sing Group Bhd
(Jan 20, RM1.90)
Maintain buy at RM1.90, target price raised to RM2.50: The company has just officially launched its Garden Residence, Cyberjaya (gross development value: RM690 million) and Perdana Residences 2, Selayang (GDV: RM209 million).

WASHINGTON: US home starts unexpectedly fell last month as unusually cold weather hampered construction, but a jump in building permits to a 14-month high indicated the housing market recovery was intact.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) declared a final income distribution of 4.98 sen per unit for the period from Aug 29 to Dec 31 last year.

KUALA LUMPUR: Eupe Corp Bhd, a company listed on the Bursa Malaysia property counter, saw its net profit for the third quarter ended Nov 30, 2009 (3QFY10) surge almost sevenfold (779.66%) to RM1.04 million from RM118,000 a year earlier, on higher profit margin from the Cinta Sayang Resort Homes as well as the disposal of housing stock.

KUALA LUMPUR: GuocoLand (Malaysia) Bhd saw lower net profit for its second quarter ended Dec 31, 2009 (2QFY2010) of RM1.45 million, from RM5.87 million the previous year despite higher revenue.

Its revenue for the quarter increased 154.58% to RM45.32 million, from RM17.8 million a year earlier due to higher revenue from the property development division.

KUALA LUMPUR: Hua Yang Bhd’s net profit for the third quarter ended Dec 31, 2009 (3QFY2010) jumped 32.9% to RM2.75 million from RM2.07 million the previous year, on higher revenue achieved.

KUALA LUMPUR: Following the uproar over the Parliamentary expenses scandal in the UK, the practice of “flipping” second homes is likely to be outlawed while the rate of capital gains tax may revert to parity with higher rates of income tax, said Shelagn Burke, an associate at Cluttons property consultancy on Jan 18.

KUALA LUMPUR: The sale tender for MIM Management House, which is located beside The Royal Embassy of Thailand along Jalan Ampang in Kuala Lumpur closed on Jan 12.

The call for tender began early December, with CH Williams Talhar & Wong Sdn Bhd as the exclusive agent handling the sale. Results of the tender have not been announced.

NEW YORK: Manhattan office vacancy rate showed a decline of 11.1% at the end of December 2009, according to Cushman & Wakefield’s year-end data on the Manhattan commercial real estate market. This is the second consecutive monthly decline and an important sign of stability.

KUALA LUMPUR: Demand for properties in Hong Kong is expected to rise further and prices are expected to rise by about 10% to 15% in the months ahead, according to Colliers International, a global real estate services company.