KUALA LUMPUR: The more than 30% decline in China property stocks over the past couple weeks is overdone, says CIMB Equities Research.

In its report issued on Friday, Sept 23, it said that in its view, "the market correction is overdone as it has taken the sector's RNAV discount, P/BV and P/E to 2008 trough levels".

KUALA LUMPUR: WCT Bhd has signed an agreement with Malaysia Airports Holdings Bhd (MAHB) and Segi Astana Sdn Bhd to privatise the construction, development and financing of the integrated complex at KL International Airport 2. This is on a build-operate-transfer basis for a concession period of 25 years, with an option to extend it a further 10 years.

KUALA LUMPUR: Integrated structural steel turnkey contractor Eversendai Corp Bhd has secured RM371 million worth of projects in India, Qatar and Oman through its various subsidiaries.

PETALING JAYA: Mudajaya Group Bhd has announced a number of boardroom changes. Major shareholder Ng Ying Loong has stepped down as the group's managing director and the current joint managing director Anto Joseph is taking over.

KUALA LUMPUR: Berjaya Land Bhd (BLand) saw its net profit fall 28% to RM56.1 million in the quarter ended July 31, 2011 from RM77.9 million in the corresponding quarter last year despite an increase in revenue to RM1 billion from RM978.9 million during the same period.

PETALING JAYA: Property developer S P Setia Bhd saw a marginal 4% rise in its 3QFY11 ended July 31 net profit to RM91.2 million from RM87 million a year earlier. Revenue was up 40% to RM583.5 million in the same period.

KUALA LUMPUR: See Hoy Chan Sdn Bhd, developer of Damansara Uptown in Petaling Jaya, has sold 75% of its latest project Seringin Residences.Situated in Happy Gardens, off Old Klang Road, the 6.4-acre (2.56ha) freehold condominium project has a gross development value of over RM500 million.According to See Hoy Chan executive vice-president Joe Tan, about 60% of the units was sold to registrants b

KUALA LUMPUR: Ireka Corp Bhd intends to set its sights on mid-priced property development and industrial development on the newly acquired tract in Kajang and Nilai, a change in its strategy of focusing on high-end developments.

KUALA LUMPUR: Holiday Villa Hotels and Resorts Group plans to tap the growing number of medical tourists for its latest hotel project, Holiday Villa Kuala Lumpur City Centre.Located in Jalan Mayang in the heart of KL with a development cost of RM95 million, the 203-room Holiday Villa KLCC spans 25 storeys.

LONDON: The majority of office markets in Europe, the Middle East and Africa (EMEA) have reported flat rental growth in the first half of the year, according to real estate consultancy Colliers International in its biannual EMEA Office Rent Map.