WASHINGTON: Sales of new US homes scaled their highest level in nearly two years in April, while orders for long-lasting manufactured goods surged, giving the economy a firmer foundation to resist possible contagion from Europe's debt crisis.

Below Expection
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•  Valuation: We are recommending Outperform with our target price at RM2.00 pegged to forward PER of 16X and EPS of 12.6sen.

Sustainable revenue growth
Highlights:

•  Outperform: IJM Land currently sits on a well diversified landbank of 7446 acres with a gross development value (GDV) of RM24.0bn. We are recommending Outperform with target price of RM pegged by EPS of 17.7sen and forward PER of 16X.

Mah Sing Group
Spot-on 1Q10

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SINGAPORE: The Government of Singapore Investment Corp (GIC) may list its logistics business in the city-state in an IPO valued at up to US$1 billion, sources with knowledge of the deal told Reuters.

IJM Land
FY10 inline

KUALA LUMPUR: A combination of a stronger ringgit and the depressed economy in some regions have prompted IGB Corp Bhd to go on an acquisition trail.

IGB is planning on expanding its hospitality division by acquiring distressed hotels overseas, said its group managing director Robert Tan.

Selangor Dredging
FY10 net profit within expectations

PUTRAJAYA: Transport Minister Datuk Seri Ong Tee Keat said on May 26 the Keretapi Tanah Melayu Bhd (KTMB) land in Singapore has not been developed previously due to land use restrictions.