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SP Setia: 1QFY10 : A slow quarter

Below expectation

1QFY10 results came in below expectations. Net profit only achieved 18.9% and 19.3% of house and consensus full year estimates due to seasonally slower construction progress in 1QFY10, and lower thanmexpected margin. As expected, no dividends were declared for the quarter.

Sunway Holdings eyes record 2010 profits

KUALA LUMPUR: Malaysian builder Sunway Holdings expects record profits in fiscal 2010 as it plans to tender for jobs worth up to RM16 billion (US$4.84 billion) globally, a top executive was quoted saying by Reuters.

Berjaya Retail to list June/July

KUALA LUMPUR: Berjaya Retail Bhd (BRetail) will be listed either in June or July, says Berjaya Group chairman and chief executive officer Tan Sri Vincent Tan Chee Yioun.

The listing of BRetail will raise RM50 million from exercise and it will be used for expansion, he said on Thursday, March 18.

China again tells banks to control lending

BEIJING: Banks should control the pace of their lending and be aware of the risks entailed in extending credit to the property sector and to local governments, Chinese bank regulators said in remarks published on March 18.