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AmResearch maintains Buy on IGB

KUALA LUMPUR: AmResearch is maintaining its Buy call on IGB Corp (IGB) at revised fair value of RM2.80 per share (previously RM2) based on 30% discount (previously 50%) to its net asset value (NAV) estimate of RM4.

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World housing market showing signs of recovery

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,

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Mudajaya 2Q net profit jumps 95% to RM26.5m

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.

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IOI Corp hit by impairment for Singapore project

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.

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Better quarters ahead for SunCity

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.

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Cover: University town in the making

Kampar reinvents itselfI’ve not lived in Kampar for very long — just 70 years!” quips long-time resident Wong Kim Foo. “From the 1940s to the 1970s, Kampar depended on the tin mining industry.

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Safeguarding landlords’ interest

Landlords with bad tenants have limited legal means in Malaysia to rectify their plight. A survey among landlords undertaken by online portal Hi5er Club found a lack of regulations on the relationship between landlords and tenants.

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My Space: Don’t just jump in

Among those at a get-together of Mont’Kiara home owners on Aug 15 was a family of four. Just as they sat down, their friend stopped by, declaring excitedly that he had just come from a new condominium launch in Petaling Jaya.

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Slow recovery in JB

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.

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Mah Sing 2Q net profit at RM23m (Aug 19, 2009)

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.

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