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Tower REIT’s net trust income increases by 8% in FY2009

KUALA LUMPUR: Listed Tower Real Estate Investment Trust (REIT), which leases office space in the Klang Valley, said its net trust income for its financial year ending Dec 31, 2009 rose to RM30.06 million from RM27.82 million in its previous financial year on the back of increased revenue to RM49.83 million from RM46.34 million.

Equine Capital’s 3Q losses narrow

KUALA LUMPUR: Main-board listed Equine Capital Bhd. saw its third quarter losses for its financial year ending March 31, 2010 narrow to RM8.2 million from a loss of RM22.66 million for the same period in the previous financial year. Losses narrowed on the back of decreased 3Q revenue of RM7.62 million from RM14.47 million in the same quarter a year earlier.

Chinese mortgage rates rise as loan clampdown bites

BEIJING: A major Chinese bank has raised mortgage rates in one of the first signs of how a government lending clampdown is rippling through the economy and could tame turbo-charged growth but spook investors, according to Reuters.

Hang Lung aims to invest US$2 bil to US$3 bil in China

HONG KONG: Hong Kong-listed developer Hang Lung Properties aims to invest US$2 billion (RM6.8 billion) to US$3 billion over the next couple of years into China if it finds good opportunities in the country's commercial property sector, a top executive said.

Analysts upbeat about Hektar REIT on dividends and prospects

KUALA LUMPUR: Analysts from two research houses – AMReasearch and OSK Research are maintaining their “buy” calls (AMResearch – RM1.23 fair value; OSK – RM1.29 target) on Hektar Real Estate Investment Trust (REIT), which derives its income from the retail sector because of dividend yields and prospects moving forward.

Bukit Padang PPR developer given two months to resume work

KOTA KINABALU: The Housing and Local Government Ministry has given two months to the developer of the 775-unit Bukit Padang People's Housing Project (PPR), near here, to resume work on the project.

Its deputy minister Datuk Seri Lajim Ukin said if the company failed to do so, the ministry might terminate the contract and appoint a new developer.

I&P’s Canting 2 Parcel B at Alam Impian fully sold

KUALA LUMPUR: Island and Peninsular Sdn Bhd (I&P) saw its recent launch of Canting 2 Parcel B (pictured) at Alam Impian, Shah Alam fully sold in three hours on Jan 30.

The parcel, with a gross development value of RM24.2 million, comprises only 48 units of 2-storey and 2½-storey terraced houses.