KUALA LUMPUR: Mudajaya Group saw profit after tax and minority interest of RM50.6 million for 1Q2010, a rise of 260% compared with RM14 million over the same period last year. The construction company released its financial results for the quarter to Bursa Malaysia on May 12.

KUALA LUMPUR: A substantial increase of US$80 (RM256.6) per tonne was noted in the MEPS-Global All Products Composite price last month. Advances were also recorded for all categories in all regions researched during April, according to a statement by MEPS on May 11. This was due, mainly, to considerable increases in mill input expenditure coupled with supply shortfalls in some areas.

SYDNEY: Australian demand for loans to buy houses sank to nine-year lows in March, providing further evidence that rising interest rates and a roll back in government cash handouts were hurting the mood of home buyers.

HONG KONG: A slowdown in domestic demand for homes in the US and Europe is prompting property developers there to search for buyers in Asia, particularly in Hong Kong and on the mainland.

The address list of foreign cities that find favour among Asian buyers includes London, Sydney and Singapore. More recently, it has expanded to Europe, particularly in Italy.

WENZHOU (China): The Perak government has urged investors from Wenzhou to seek opportunities in the state, especially in real estate, biodiversity as well as manufacturing industries.

Its Senior Executive Councillor Datuk Hamidah Osman said the state government and local property developers are keen on inviting the people of Wenzhou to come and see for themselves, Perak's potential.

KUALA LUMPUR: The redevelopment of the Pudu Prison site along Jalan Pudu in Kuala Lumpur is expected to commence construction by year-end.

UDA Holdings Bhd managing director Datuk Jaafar Abu Hassan told theedgeproperty.com recently, that the developer is “at the tail end of finalising plans for the project and hopes to start building within this year”.

HONG KONG: The return of expatriate executives to Hong Kong has increased leasing demand for high-end residential units as well as serviced apartments, according to property consultancy Jones Lang LaSalle (JLL).

BEIJING: Mainland home prices have tumbled by as much as 19% this month as developers resort to wide-scale price discounting in a bid to lure wary buyers back to the stagnating property market.

HONG KONG: Property markets across Greater China are finding themselves in the same boat -- fearful that last year's lending binge may have created a bubble.

In response to those concerns, the authorities have since March taken measures to cool their overheated markets. Except for the mainland, the measures have had little impact so far.

HONG KONG: Property developer Nan Fung Development won a Hong Kong residential site for less than expected last Thursday, May 6, with many developers staying on the sidelines as auctioneers repeatedly threatened to withdraw the site from bidding.