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Rehda: New LTV ratio good move, but could affect genuine homebuyers

KUALA LUMPUR: The 70% cap on home loans announced by Bank Negara Malaysia (BNM) for purchases of third homes effective Wednesday, Nov 3 is welcomed by housing developers, but a nationwide application of the measure would affect genuine house buyers, cautioned the Real Estate and Housing Developers Association (Rehda) president Datuk Michael Yam.

04 November, 2010
New rule puts damper on Kowloon land sale

HONG KONG: New rules on floor area resulted in a lacklustre land auction yesterday as a luxury residential site in Kowloon Tong sold for HK$2.17 billion (RM861.14 billion) — at the bottom of the forecast range.

04 November, 2010
AmFIRST posts net property income of RM31.42 million

KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST) recorded net property income of RM31.42 million for its six-month financial period ended Sept 30, up 2.1% from a year ago.

Its gross revenue dropped 2.1% to RM47.20 million while its income after taxation declined 1.6% to RM20.59 million, and property expenses were lower by 9.6%.

03 November, 2010
Sunrise 1Q pre-tax profit up by 4%

KUALA LUMPUR: Sunrise Bhd posted a pre-tax profit of RM52.2 million for its first quarter (1Q) ended Sept 30, 2010, up 4% from RM50.2 million posted a year ago.

Its revenue declined 10% to RM171.3 million from RM190.3 million a year ago.

03 November, 2010
Taiwan's Farglory in $1 bln Abu Dhabi project-source

TAIPEI: Taiwan's Farglory Group will develop an estimated $1 billion (RM3.08 billion) hotel and residential project in Abu Dhabi's new financial district in partnership with the emirate's state fund, a source close to the situation said on Wednesday.

03 November, 2010