KUALA LUMPUR: The world's housing markets are showing signs of recovery, with seven countries having emerged from the house price slump, according to Global Property Guide.After experiencing declines in 2008, house prices in China, Portugal, Australia, New Zealand, France, Sweden and Hong Kong rebounded during the latest reported quarter, 2Q 2009.In its survey of world-wide house price indices,
KUALA LUMPUR: Mudajaya Group Bhd posted a strong 2Q earnings of RM26.48 million, a surge of 95% from RM13.59 million a year ago, as earnings from its construction sector picked up.It said on Aug 26 revenue rose to RM182.73 million from RM101.24 million. Earnings per share were 7.11 sen versus 3.64 sen.For the first half, net profit was RM40.52 million compared with RM26.66 million.
KUALA LUMPUR: IOI Corp earnings for the fourth quarter ended June 30, 2009 (4Q09) fell 18.4% to RM487.07 million compared with RM597.28 milion a year ago after it was affected by an impairment loss of RM242.8 million recognised on a development property in Singapore.
Maybank Investment Research said Sunway City (SuncCity) posted a weak 4QFY09 (RM18 million) net profit on slower sales, construction delays and the absence of new launches.However, sales have since picked up strongly, it said in a research note issued on Aug 25.
Some optimism is returning to the Johor Baru housing property market after two consecutive sluggish quarters as a result of the global credit crunch.There were more sales recorded in the primary market in 2Q2009 compared with 1Q2009, says KGV-Lambert Smith Hampton Johor director Samuel Tan when presenting The Edge/KGV-Lambert Smith Hampton Johor Baru housing property monitor for 2Q2009.
KUALA LUMPUR: Mah Sing Group Bhd reported net profit of RM23.04 million in its second quarter ended June 30, a decline of 38% from RM37.25 million a year ago mainly due to timing mismatch but it was optimistic about its outlook with remaining gross development value and unbilled sales of approximately RM4.4billion.