Kenanga Research upgrades S P Setia to BUY, FV RM4.90

KUALA LUMPUR: Kenanga Investment Research has upgraded S P Setia Bhd (S P) to BUY, from Trading BUY, with higher fair value of RM4.90.

It said on Friday, Jan 22 its fair value implied FY10E price-to-earnings ratio (PER) of 24 times, which are peak valuations experienced over FY07; but FY11-12 estimated valuations become compelling at 19 times to 17 times PERs.

Atrium REIT falls short of projections

KUALA LUMPUR: Atrium Real Estate Investment Trust (REIT) fell short of its pre-tax profit and gross revenue projections for the year ended Dec 31, 2009 by 15% and 5.6% respectively.

QCM announces revaluation surplus of RM692,000

KUALA LUMPUR: Quill Capital Management Sdn Bhd (QCM), the manager of Quill Capital Trust (QCT), announced a total revaluation surplus of RM692,000 for the nine properties held under the trust, following a revaluation exercise recently.

Syndicate's bid to 'grab' land foiled

KUALA TERENGGANU: An alert assistant land administrator has foiled an attempt by a syndicate to change the ownership of a piece of land in a village near here with the use of a forged MyKad, and led police to the arrest of three men.

Construction cost for schools in Sarawak, Sabah to drop with NKRA

MIRI: Deputy Prime Minister Tan Sri Muhyiddin Yassin is confident that the construction cost for schools and related infrastructure in Sarawak and Sabah can be reduced beginning next year with the activation of the National Key Result Area (NKRA) programme.

Federal Court 'sets right' land fraud decision

PUTRAJAYA: The Federal Court today (Jan 21) departed from its earlier decision and re-opened the recourse route for property owners embroiled in disputes related to fraudulent land transfers.

Mah Sing’s offerings ‘selling like hot cakes’

Mah Sing Group Bhd
(Jan 20, RM1.90)
Maintain buy at RM1.90, target price raised to RM2.50:
The company has just officially launched its Garden Residence, Cyberjaya (gross development value: RM690 million) and Perdana Residences 2, Selayang (GDV: RM209 million).

US housing starts fall, but permits at 14-month high

WASHINGTON: US home starts unexpectedly fell last month as unusually cold weather hampered construction, but a jump in building permits to a 14-month high indicated the housing market recovery was intact.