Mah Sing Group: Exceeding expectations

Event

We reiterate our “outperform” recommendation on Mah Sing with a raised target price of RM1.95 (previously RM1.88, ex-bonus issue). Mah Sing continues to show strong property sales and land acquisitions.

Impact

PETALING JAYA: The Mahkota Parade shopping complex in Melaka was re-launched on May 1 after a facelift.

The makeover process began in July 2009 and was completed last month at a cost of RM30.4 million.

KUALA LUMPUR: Sunway City Bhd rose in morning trade Monday, May 10 after ECM Libra Investment Research maintained its “buy” call and raised its target price for the stock to RM5 (from RM4.33 previously).

The research house said Suncity was one of its top picks for the sector.

HONG KONG: The latest global credit turmoil and the Hong Kong government's stated intention to crack down on property speculation might put the brakes on bidding at tomorrow's (May 11) government land sale, say some analysts.

SHANGHAI: A general stronger-than-expected pace of economic recovery in Asia-Pacific has led to a noticeable revival in demand for office space in 1Q2010.

Nod For Sunway REIT Listing

A big pay day

BUTTERWORTH (Penang): The government plans to expand the two generation loan payment scheme to help Penang Malays own houses, Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said.

KUALA LUMPUR: In the seven years since it was set up, the Malaysian Tribunal for Homebuyers Claims has been flooded with nearly 4,000 cases annually, or an average of 10 complaints daily, from disgruntled purchasers.

LONDON:  Egyptian-born businessman Mohamed Al Fayed has sold prestigious London department store Harrods to the investment vehicle of the Qatar royal family in a deal reported to be worth around 1.5 billion pounds (US$2.3 billion), according to Reuters.