KUALA LUMPUR: Mah Sing Group Bhd recorded a 26% year-on-year increase in profit after tax and minority interest (PATMI) for 3Q2010 with nearly RM30 million, the Groups said in a press release on Monday, Nov 29. Revenue earned in the same quarter was about RM283 million.

KUALA LUMPUR: UBG Bhd achieved a net profit hike of 88.7% to RM13.831 million from RM7.329 million a year ago for its third quarter (3Q) results ended Sept 30, 2010, the group announced on Monday Nov 29. Revenue earned during the same period increased by 1.92% to RM257.657 million from RM252.794 million a year ago.

LONDON: Despite the gloomy prognosis on the prospects ahead for the UK residential market, there is a growing acknowledgement that prime London real estate bears little correlation with the rest of the UK. Rather, these are two markets subject to different forces and any idea of a "ripple effect" is outmoded.

LONDON: Guoson Centre, the flagship project of GuocoLand (China) Limited (GLC) has won "Best International Mixed-use Development" at the International Property Awards in association with Bloomberg Television 2010.

SYDNEY: Lower sales of new homes in Australia over the last three months to October, combined with other important housing indicators, are foreshadowing a housebuilding downturn next year, said the Housing Industry Association (HIA) on a statement on Monday, Nov 29.

1) Market capitalisation
Winner: UEM Land-Sunrise
Market size is important to attract investor interest, particularly given Malaysia's two-tier market where institutional funds are heavily drawn to larger stocks and the FBM KLCI is currently bereft of property representation.

THE merger between Malaysian Resources Corp Bhd (MRCB) and IJM Land Bhd is expected to create the country's second-largest property company with a market capitalisation of over RM7 billion and landbank of more than 9,000 acres.

LAST week, Sunway Group chairman Tan Sri Jeffrey Cheah and his daughter Sarena Cheah, made an offer to take over the assets and liabilities of Sunway Holdings Bhd and Sunway City Bhd (SunCity) via a deal involving cash and shares swap totalling RM4.5 billion.

IN early November, UEM Land Holdings Bhd started the property merger ball rolling by proposing a conditional takeover of Sunrise Bhd at RM2.80 per share, which values the acquisition at RM1.39 billion. It will create Malaysia's largest property company with a market capitalisation of nearly RM10 billion and a 12,000-acre landbank.

KUALA LUMPUR: Sime Darby Property Bhd, the property arm of Sime Darby Bhd, is best known for its size as the property developer with the largest landbank in the country.