KUALA LUMPUR: Gamuda Bhd is buying a 60% stake in Vietnam's Tan Thang Company for US$82.8 million (RM275.14 million) which has rights to undertake a property project in Ho Chi Minh City with an estimated gross development value (GDV) of RM6 billion.

KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has affirmed its rating on Horizon Hills Development Sdn Bhd's Islamic Bank Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200 million at AAA-ID(bg).

KUALA LUMPUR: Gamuda Bhd posted stronger set of earnings in the first quarter ended Oct 31, with net profit at RM63 million, up 14.5% from RM55.04 million a year ago, due to higher contributions from all divisions.

The infrastructure-based company said on Tuesday, Dec 22 that revenue was marginally higher by 1.63% at RM623.96 million from RM613.96 million.

KUALA LUMPUR: The announcements on Dubai World’s debt restructuring and the Vietnamese dong’s devaluation hit world markets late last week. Malaysia was not spared, with some construction companies, perceivably with the most direct exposure, falling -9.2% since last Wednesday (compared to a -0.1% fall in the KLCI).

Not spared the effects of the global financial crisis and economic slowdown, the upmarket segment of the housing property market has seen a return of buying interest of late.

Amid a challenging economic environment where developers are faced with a softer property market and higher inflation, it has become imperative for the big boys in the industry to come up with brand campaigns which will set themselves apart from their competitors.One of these developers, Gamuda Land Sdn Bhd, is noted for its innovation.

There is a new but not unfamiliar name this year at the No 1 spot of The Edge Top Property Developers Awards 2009. Sime Darby Property Bhd (SDP), the property division of Sime Darby Bhd, wrested the top spot from S P Setia Bhd, which had held the position the past four consecutive years. SDP, which did not feature in the ranking last year, certainly made its presence felt this year.

KUALA LUMPUR: IJM Land Bhd led real estate stocks lower and builders fell after Prime Minister Datuk Seri Najib Tun Razak imposed a capital gains tax on property and the government cut development spending.

IJM Land, Malaysia’s fifth-biggest developer, slid 2% to RM2.44 at 10.28am on Oct 26, outpacing the FTSE Bursa Malaysia KLCI Index’s 0.4% decline. IGB Corp lost 3.3% to RM2.07.

There is a new but not unfamiliar name this year at the No 1 spot of The Edge Top Property Developers Awards 2009. Sime Darby Property Bhd (SDP), the property division of Sime Darby Bhd, wrested the top spot from S P Setia Bhd, which had held the position the past four consecutive years.