PUTRAJAYA: The Federal Court today (Jan 21) departed from its earlier decision and re-opened the recourse route for property owners embroiled in disputes related to fraudulent land transfers.

KUALA LUMPUR: Main board listed Axis REIT Managers Bhd. expects to secure 100% occupancy for its Quattro West (previously known as Nestle House) office building in Persiaran Barat, Petaling Jaya by April 2010.

Mah Sing Group Bhd
(Jan 20, RM1.90)
Maintain buy at RM1.90, target price raised to RM2.50: The company has just officially launched its Garden Residence, Cyberjaya (gross development value: RM690 million) and Perdana Residences 2, Selayang (GDV: RM209 million).

WASHINGTON: US home starts unexpectedly fell last month as unusually cold weather hampered construction, but a jump in building permits to a 14-month high indicated the housing market recovery was intact.

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) declared a final income distribution of 4.98 sen per unit for the period from Aug 29 to Dec 31 last year.

KUALA LUMPUR: Eupe Corp Bhd, a company listed on the Bursa Malaysia property counter, saw its net profit for the third quarter ended Nov 30, 2009 (3QFY10) surge almost sevenfold (779.66%) to RM1.04 million from RM118,000 a year earlier, on higher profit margin from the Cinta Sayang Resort Homes as well as the disposal of housing stock.

KUALA LUMPUR: GuocoLand (Malaysia) Bhd saw lower net profit for its second quarter ended Dec 31, 2009 (2QFY2010) of RM1.45 million, from RM5.87 million the previous year despite higher revenue.

Its revenue for the quarter increased 154.58% to RM45.32 million, from RM17.8 million a year earlier due to higher revenue from the property development division.

KUALA LUMPUR: Hua Yang Bhd’s net profit for the third quarter ended Dec 31, 2009 (3QFY2010) jumped 32.9% to RM2.75 million from RM2.07 million the previous year, on higher revenue achieved.

KUALA LUMPUR: Following the uproar over the Parliamentary expenses scandal in the UK, the practice of “flipping” second homes is likely to be outlawed while the rate of capital gains tax may revert to parity with higher rates of income tax, said Shelagn Burke, an associate at Cluttons property consultancy on Jan 18.

KUALA LUMPUR: The sale tender for MIM Management House, which is located beside The Royal Embassy of Thailand along Jalan Ampang in Kuala Lumpur closed on Jan 12.

The call for tender began early December, with CH Williams Talhar & Wong Sdn Bhd as the exclusive agent handling the sale. Results of the tender have not been announced.