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Hong Kong home sales down on cooling moves

HONG KONG: Sales of mass-market housing in Hong Kong have fallen by a monthly 24% so far this month following government measures to cool the overheated property market, the South China Morning Post reported on Thursday, Dec 30.

IJM Land, MRCB merger called off, shares slide

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) and IJM Land Bhd's proposed merger has been called off after both parties failed to agree on the terms of the Memorandum of Understanding (MoU), which expired on Wednesday, Dec 29.

Demand for India office space set to rise

KUALA LUMPUR: Office occupiers in India are more optimistic than they have been in recent months, with the majority planning to take on additional office space, according to a survey of 200 office occupiers conducted by real estate consultancy DTZ.

Crescendo net profit more than doubles to RM8.45m in 3Q

KUALA LUMPUR: Crescendo Corporation Bhd has posted a net profit of RM8.45 million for its third quarter (3Q) ended Oct 31, 2010, more than double from RM4.08 million a year ago, on higher revenue.

Meanwhile, turnover rose 55.7% to RM59.11 million from RM37.94 million a year ago, it announced to Bursa Malaysia on Wednesday, Dec 29.

China to continue property tightening in 2011

BEIJING: China will not relax curbs on property speculation in 2011 and will reinforce the implementation of measures to contain rising home prices, domestic media reported on Wednesday, Dec 29, citing Housing Minister Jiang Weixin.

Real construction growth for 2011 projected at 4%

KUALA LUMPUR: Real construction growth for 2011 has been projected at 4%, OSK Research said in its 2011 report.

It re-rated valuations upwards for the construction sector fuelled by the possibility of an early general election, implementation of the proposed projects under the Economic Transformation Programme and Budget 2011.

Visionary planning the only answer to gridlock

BEIJING: Cars have gridlocked countless great cities that did not plan for the explosion of private ownership. Not so long ago mainland cities remained exceptions. The automotive industry was still to take off.