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More downside to global property prices

KUALA LUMPUR: The global real estate fraternity has yet to see the worst, prompting expectations of further declines in property prices in advanced and emerging economies as financial institutions again tighten lending in a risk-averse landscape.But assets in emerging Asian entities tend to offer a more compelling investment theme compared with their peers in the developed US and Europe.

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#Flash* Sime Darby plans RM4.5b Islamic debt notes

KUALA LUMPUR: Sime Darby Bhd has proposed RM4.5 billion Islamic debt notes to finance its working capital requirements and also future investments and if required, refinance debt obligations.Sime Darby said on Tuesday, Sept 29 it had proposed to undertake an Islamic medium term note programme of RM4.5 billion and an Islamic commercial paper/Islamic medium term note programme of RM500 million wi

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Malton scales back acquisition of Austin Heights

KUALA LUMPUR: Malton Bhd has scaled back its proposed acquisition of Austin Heights Sdn Bhd from the initial 100% stake costing RM103 million to only 20% for RM20.6 million cash.Malton said on Tuesday, Sept 29 it had entered into a supplemental agreement with Southcon Builders Sdn Bhd for the acquisition of one million shares in Austin Heights for RM20.6 million.

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Gamuda 4Q net profit down 38.3% at RM43.29m

KUALA LUMPUR: Gamuda Bhd's net profit fell 38.3% to RM43.29 million in the fourth quarter ended July 31 compared with RM70.2 million a year ago due to sharply higher operating expenses.Gamuda said on Tuesday, Sept 29 that revenue however rose 10.68% to RM942.24 million from RM851.3 million.

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Talam posts lower profit in 2QFY10

KUALA LUMPUR: Talam Corporation Bhd posted a lower net profit of RM195,000 in its second quarter ended July 31, 2009 (2QFY10), from RM26.6 million a year earlier, despite receiving significant other income totaling RM19. 48 million.

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E&O confident of its new launches

KUALA LUMPUR: Eastern and Oriental Bhd (E&O) is confident its new property launches this year will be well received by the market given the current positive sentiments, said executive director Eric Chan Kok Leong.

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Gamuda 4Q net profit down 38.3% at RM43.29 million

KUALA LUMPUR: Gamuda Bhd's net profit fell 38.3% to RM43.29 million in the fourth quarter ended July 31 compared with RM70.2 million a year ago due to sharply higher operating expenses.

Gamuda said on Sept 29 that revenue, however, rose 10.68% to RM942.24 million from RM851.3 million. Earnings per share were 2.16 sen compared with 3.50 sen.

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