KUALA LUMPUR: Main-board listed Equine Capital Bhd. saw its third quarter losses for its financial year ending March 31, 2010 narrow to RM8.2 million from a loss of RM22.66 million for the same period in the previous financial year. Losses narrowed on the back of decreased 3Q revenue of RM7.62 million from RM14.47 million in the same quarter a year earlier.

BEIJING: A major Chinese bank has raised mortgage rates in one of the first signs of how a government lending clampdown is rippling through the economy and could tame turbo-charged growth but spook investors, according to Reuters.

HONG KONG: Hong Kong-listed developer Hang Lung Properties aims to invest US$2 billion (RM6.8 billion) to US$3 billion over the next couple of years into China if it finds good opportunities in the country's commercial property sector, a top executive said.

KUALA LUMPUR: Analysts from two research houses – AMReasearch and OSK Research are maintaining their “buy” calls (AMResearch – RM1.23 fair value; OSK – RM1.29 target) on Hektar Real Estate Investment Trust (REIT), which derives its income from the retail sector because of dividend yields and prospects moving forward.

KOTA KINABALU: The Housing and Local Government Ministry has given two months to the developer of the 775-unit Bukit Padang People's Housing Project (PPR), near here, to resume work on the project.

Its deputy minister Datuk Seri Lajim Ukin said if the company failed to do so, the ministry might terminate the contract and appoint a new developer.

KUALA LUMPUR: The Malaysia-German Chamber of Commerce and Industry (MGCC) has received overwhelming response from Malaysian construction companies to participate in Bauma 2010, the world's largest exhibition for the construction and mining industry.

KUALA LUMPUR: Island and Peninsular Sdn Bhd (I&P) saw its recent launch of Canting 2 Parcel B (pictured) at Alam Impian, Shah Alam fully sold in three hours on Jan 30.

The parcel, with a gross development value of RM24.2 million, comprises only 48 units of 2-storey and 2½-storey terraced houses.

Showflat of the three-bedroom loft at Holland Residences

Property sector

SHANGHAI: China’s property market “bubble” is set to burst as the government curbs credit growth and clamps down on speculation, according to independent economist Andy Xie.

As bank lending slows, “it’s very difficult to see this demand continuing”, Xie, formerly Morgan Stanley’s chief Asian economist, told Bloomberg Television in Hong Kong on Feb 2.