HONG KONG: Property developers here could be heading for a profit bonanza this year as they cash in on tight supply and strong demand to release new projects at prices of up to 70% above current deals in the secondary market.
LONDON: Tokyo replaced Hong Kong as the world’s most expensive office location after rents in the Japanese capital declined at a slower pace, according to broker Cushman & Wakefield Inc.
NEW YORK: U.S. consumer confidence sagged to a 10-month low this month on worries about jobs and fears gridlock in Washington could hinder efforts to restart employment, curbing the economic recovery, according to Reuters.
The housing market also remains rickety, data showed on Tuesday Feb 23, further underscoring the economy's fragility.
KUALA LUMPUR: LBS Bina Group Bhd’s revenue for the year ended Dec 31, 2009 dipped 22% to RM203 million while profit before tax decreased by 153% to RM5.5 million from the previous year’s revenue and profit before tax.
PETALING JAYA: Eastern & Oriental Bhd (E&O) achieved a profit after tax of RM11.848 million for its third quarter ended Dec 31, 2009, compared with a loss of RM3.978 million recorded in the corresponding period of financial year ended March 31, 2009.
The company recorded a quarter-on quarter increase in revenue of 28% to RM90 million from RM70.162 million.
PETALING JAYA: Dijaya Corp Bhd recorded a lower net profit of RM3.298 million in its fourth quarter ended Dec 31, 2009, eased by 86.25% from the RM25.083 million posted in the same period last year.
Revenue went up by 36.66% to RM101.281 million against RM74.11 million recorded in the same period last year.
KUALA LUMPUR: Property developer, YNH Property Bhd said full financial year profits declined to RM53.04 million from RM80.90 million in the previous financial year ending Dec 31, 2008 on the back of decreased revenue to RM269.63 million from RM348.67 million in the previous year. Annual earnings per share also dropped to 13.93 sen from 21.52 sen.
KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) recorded a higher net profit of RM12.412 million in its fourth quarter ended Dec 31, 2009, up 68.42% from a net loss of RM39.298 million recorded in the same quarter last year.
Revenue increased to RM281.669 million in the quarter, up 38.38% from RM203.54 million in the same period last year.
KUALA LUMPUR: Mainboard-listed property developer Mulpha Land said full financial year profits rose to RM4.5 million from RM1.44 million a year earlier on the back of decreased revenue to RM13.5 million from RM15.16 million for the financial year ending Dec 31, 2010.