KUALA LUMPUR: Boustead Holdings Bhd reported a pre-tax profit of RM501.65 million for the year ended Dec 31, 2009, down 26.1% from RM678.90 million the previous year.

Revenue declined to RM5.39 billion against RM7.029 billion in 2008, the company said in a filing to Bursa Malaysia on Feb 25.

HONG KONG: The mainland property market is so vast that it offers thousands of Hong Kong people the opportunity to make their dream careers possible, as Lawrence Tong, graphic designer-turned-feng shui consultant in Shanghai, testifies.

PETALING JAYA: Selangor’s first technopreneur campus will be set up in i-City, Shah Alam as part of the state government’s efforts to transform Selangor’s economy into a knowledge-economy (K-economy).

KUALA LUMPUR: Citta (pictured), a new strip mall near Ara Damansara is expected to open for business in 4Q2010 with approximately 70% occupancy, Allan Soo, managing director of CB Richard Ellis (CBRE) Malaysia told theedgeproperty.com. CBRE is the retail consultant for Citta.

Naim’s FY09 earnings of RM78.7 million (-2.5% y-o-y) were within our expectation (+1.7%) although the lower q-o-q profits were due to weaker contributions from Dayang. We continue to see increasing jobs in Sarawak, fuelled by the state elections expected to be held next year, much to Naim’s benefit. We retain our earnings estimates and RM4.12 TP.

WASHINGTON: Sales of new homes in the US probably rose in January as an extension of a first-time homebuyers’ tax credit spurred demand from a nine-month low, economists said before a report on Feb 24.

SAN FRANCISCO: The default rate for commercial property mortgages held by US banks more than doubled in the fourth quarter and may reach a peak of 5.4% at the end of next year, according to Real Capital Analytics Inc.

Mah Sing Group Bhd (Feb 24, RM1.82)

Maintain buy at RM1.83, fair value raised to RM2.38: Mah Sing’s results were above expectations. The revenue for the quarters reached 112.2% of full-year forecasts while net profit was 104.4% of forecast.

KUALA LUMPUR: MUI Properties Bhd saw a profit before tax (PBT) of RM8.8 million for FY2009 compared with a PBT loss of RM1.7 million for the preceding year. However, the group recorded lower revenue of RM17.5 million for FY2009 compared with the previous year’s RM30.4 million.

KUALA LUMPUR: Asia Pacific Land Bhd posted revenue of RM106.8 million and a loss after tax of RM1.235 million in FY2009, compared with revenue of RM65.1 million and a profit after tax of RM0.4 million in FY2008. For 4Q2009, the group recorded revenue of RM46 million and a loss after tax of RM2.8 million compared with 4Q2008’s revenue of RM19.1 million and a loss after tax of RM0.35 million.