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.
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.
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.
PETALING JAYA: The residential real estate sector in Abu Dhabi is entering a challenging yet likely beneficial phase of its development in the aftermath of the global economic slowdown, according to publishing, research and consultancy firm Oxford Business Group (OBG).
HONG KONG: Hong Kong's government plans to raise the tax on luxury apartment deals and increase land supply to try and prevent the property market from overheating, a trend evident in many Asian markets.
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.
HONG KONG: Property developers here could be heading for a profit bonanza this year as they cash in on tight supply and strong demand to release new projects at prices of up to 70% above current deals in the secondary market.