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Shangri-La Hotels posts 12% decrease in revenue for FY2009

KUALA LUMPUR: Shangri-La Hotels (Malaysia) Bhd posted a 12% loss in revenue to RM367.371 in FY2009, compared with RM415.447 million in the previous financial year. According to the group’s statement to Bursa Malaysia on Feb 24, the decrease was largely due to major renovations at Shangri-La Hotel Kuala Lumpur and Golden Sands Resort in Penang for most of 2009.

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PM: Malaysia’s GDP grew 4.5% in 4Q

KUALA LUMPUR: Malaysia has emerged from the recession with the Prime Minister announcing the country's economy grew at 4.5% in the fourth quarter of 2009, underpinned by the services, manufacturing and agriculture sector.

The outlook for Malaysia in 2010 remains bullish and Datuk Seri Najib Razak is hoping to achieve higher GDP growth than earlier expected.

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Kedah acts against public housing hire purchase defaulters

ALOR SETAR: The Kedah government proposes to arrange bank loans for public housing hire purchase defaulters who have run up arrears of RM27 million, Menteri Besar Datuk Seri Azizan Abdul Razak said on Feb 24.

"The bank will pay the state government and the house owners will repay the loans," he told reporters after chairing the weekly meeting of the state executive council, here.

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MRCB: Impressive figures

Maintain BUY

* The full-year net earnings of RM40.3 million came in above ours and consensus expectations, largely driven by improved “Engineering  & Construction” (E&C) division’s contribution.

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Plenitude: A pleasant surprise

Plenitude’s annualised 1HFY10 earnings came in 29% above our expectation and consensus estimates, buoyed particularly by exceptionally strong new property sales and faster progress billings in 2QFY10.

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Prices steady in China as home buying starts to wane

HONG KONG: Surging home prices on the mainland have shown signs of slowing down as buyers hesitate about entering the market in the wake of government measures to cool property speculation.

But the slower pace of price growth last month does not signal an overall correction in home valuations, property consultants said.

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