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Atrium REIT sees higher profit

KUALA LUMPUR: Atrium Real Estate Investment Trust (Atrium REIT) saw its net profit growing 49% to RM4 million in its fourth quarter ended Dec 31, 2010 (4QFY10), from RM2.7 million the previous year.

Nam Fatt disposes of land in Shah Alam

KUALA LUMPUR: Property developer Nam Fatt Corporation Bhd is selling a parcel of land in Shah Alam for RM2.85 million.

In a filing to Bursa Malaysia on Tuesday, Jan 25, the company said its unit Maddusalat Bhd had entered into a sale and purchase agreement with J S Bina Sdn Bhd for the disposal of the 1.99-acre leasehold land in Seksyen 13, Shah Alam.

China may announce property tax reforms in 1Q

SHANGHAI: China's Ministry of Finance may announce the start of property tax reforms during the first quarter, the official Shanghai Securities News reported on Tuesday, Jan 25, citing unidentified sources.

Two Chinese cities — Shanghai and western Chongqing — will be included in a pilot scheme, the newspaper said.

Sibu Municipal Council bans swiftlet farming in residential areas

SIBU: The Sibu Municipal Council (SMC) has now banned any form of swiftlet farming in residential areas here.

Chairman Datuk Tiong Thai King said on Tuesday, Jan 25 that it was finalising procedures to allow action to be taken against operators who continued to do so.

Phuket tourist arrivals in 2010 hit new highs at 3.5 million

PHUKET: Phuket tourist arrivals saw a 22% increase to 3.5 million in 2010 compared to the previous year, the highest record ever, according to 2010 Phuket Hotel Market Update, the latest market research report by consultancy firm C9 Hotelworks released on Tuesday, Jan 25.

Mah Sing (CIMB Research) maintain outperform; target price RM3.30

• Maintain OUTPERFORM. Mah Sing is continuing with its aggressive and transformational landbanking exercise that should catapult it into the big league. We believe it is ripe for a major re-rating given its excellent track record in execution and  wildly successful “quick turnaround” model.