KUALA LUMPUR: Muhibbah Engineering (M) Bhd saw its net profit decline by 23% to RM10.78 million from RM14.14 million a year ago for its second quarter ended June 30, 2010 (2Q).

The decline in net profit was on the back of a 20% drop in revenue of RM463.28 million in 2Q compared with RM580.6 million a year ago, it announced on Bursa Malaysia on Monday, August 30.

KUALA LUMPUR: The Malaysia Accounting Standards Board (MASB) has deferred the implementation of the IC Interpretation 15 Agreements for the Construction of Real Estate (IC 15) from July 1, 2010 to Jan 1, 2012.

KUALA LUMPUR: Al-‘Aqar KPJ real estate investment trust (REIT) posted a net profit of RM10.94 million for the second quarter (2Q) ended June 30, 2010, up 21.4% from RM9.01 million a year ago, it announced on Bursa Malaysia on Monday, Aug 30.

Meanwhile, revenue increased by 20% to RM17.21 million from RM14.3 million a year ago.

KUALA LUMPUR: A preview of Mah Sing Group Bhd's Kinrara Residences has attracted over 1,000 visitors mainly from the nearby Bandar Kinrara Puchong held at its sales gallery over the weekend of Aug 28 and 29.

BEIJING/HONG KONG: Agricultural Bank of China Ltd, the country's third-biggest lender, said on Monday, Aug 30 that its level of real estate loans were the lowest among its peers and its yearly profit could exceed forecasts.

SHANGHAI: The largest weekend supply of new homes hit the Shanghai residential market since June when 1,950 new homes in at least eight projects were launched on Aug 28 and 29, reported Shanghai Daily.

In comparison, only 444 apartments units were launched the previous weekend, according to Soufun.com, a real estate information portal.

KULIM: The Kedah Regional Development Authority (Keda) will build 1,001 housing units worth almost RM4 million under the state's Housing Assistance Programme, expected to begin in two months.

Keda general manager Arpan Shari said the project includes 28 additional units in two Keda areas in Kulim, namely Desa Keda Nagalilit, Padang Serai and Desa Keda Dingin, Karangan, near here.

SEOUL: South Korea said on Sunday, Aug 29 it would ease some mortgage borrowing restrictions for low income earners buying homes for their own dwelling as part of steps aimed at boosting the languid property market.

LONDON: British house prices suffered their biggest fall since April 2009 this month, declining by 0.3%, property data company Hometrack said on Monday, Aug 30 in its monthly survey of estate agents and surveyors.

August is traditionally a weak month for British house prices, with many buyers on holiday, and Hometrack's data are not seasonally adjusted.

The late Austrian playwright, poet and journalist Karl Kraus once said: “Experiences are savings which a miser puts aside.