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Rehda to propose Home Completion Guarantee Scheme

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda) is planning to introduce a Home Completion Guarantee Scheme.

Its president Datuk Ng Seing Liong said the scheme would eliminate the possibility of projects being abandoned as Rehda would step in to complete the project should any problem arise.

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Rehda and MBAM to mass import steel

KUALA LUMPUR: The Real Estate and Housing Developers' Association Malaysia (Rehda) and the Master Builders Association Malaysia (MBAM) will be mass importing steel from neighbouring countries as local steel prices have risen by 10%.

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SP Setia 1Q10 broadly in-line

• 1Q10 net profit of RM38m was broadly in-line, making-up 19% of street’s FY10E net profit of RM198m and 18% of our estimate of RM208m. Typically, SP Setia (SP) 1Qs and 1Hs are seasonally weaker while 2H makes up 53%-55% of full year net profit.

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SP Setia: 1QFY10 : A slow quarter

Below expectation

1QFY10 results came in below expectations. Net profit only achieved 18.9% and 19.3% of house and consensus full year estimates due to seasonally slower construction progress in 1QFY10, and lower thanmexpected margin. As expected, no dividends were declared for the quarter.

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Sunway Holdings eyes record 2010 profits

KUALA LUMPUR: Malaysian builder Sunway Holdings expects record profits in fiscal 2010 as it plans to tender for jobs worth up to RM16 billion (US$4.84 billion) globally, a top executive was quoted saying by Reuters.

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