KUALA LUMPUR: JAKS Resources Bhd saw its net profit for the third quarter ended July 31, 2009 (3QFY09) plunge 86.17% to RM214,000, from RM1.55 million the previous year, despite higher revenue. The dip was due to the weakened selling price for steel related products.
KUALA LUMPUR: Crescendo Corp Bhd’s net profit for the second quarter ended July 31, 2009 dropped by 21.44% to RM5.73 million, from RM7.3 million a year earlier on lower sales of properties and concrete products.
The company said in a filing to Bursa Malaysia on Sept 30 that the concrete products margin is squeezed mainly due to materials cost fluctuations.
KUALA LUMPUR: Mah Sing Group Bhd has been awarded the “Best Developer” in the Euromoney Real Estate Awards 2009. This is the second year running that the Group has been won the title.
MADRID: Spanish home prices fell for a seventh quarter in the three months through June as mortgage lending contracted and the worst recession in 60 years pushed up unemployment.
PETALING JAYA: The residential sector is leading the recovery of Hong Kong’s real estate market, with the luxury residential segment showing the biggest and quickest rebound.
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.
KUALA LUMPUR: Vincent Lo, who controls Shanghai-based developer Shui On Land Ltd, said he doesn’t see a bubble forming in the Hong Kong and China property markets because there is pent-up demand for homes as the economies expand.
KUALA LUMPUR: HwangDBS Vickers Research is maintaining its Buy call on Gamuda Bhd with a target price of RM4.25 as it sees more upside for the infrastructure-based company in the financial year 2010.The research house said on Sept 30 it continues to like Gamuda as a large cap construction stock with a niche in government contracts, and a diversifying earnings base including Vietnam.