PETALING JAYA: Not enough is being done by the government to promote the sale of Malaysian properties to foreign buyers, Glomac Bhd's Chief Executive Officer Datuk Fateh Iskandar Tan Sri Mohamed Mansor said.

He said among countries in the Asian region, Malaysia has the best rules and guidelines that favoured sale of properties to foreigners and yet take-up was declining.

SHAH ALAM: The Selangor State Executive Councillors (EXCO) has instructed the Gombak District Office (DO) to issue Form 8, or Notice of Reversion to forfeit the site of an illegal landfill in Kampung Sungai Kertas, Gombak from the site’s four owners.

KUALA LUMPUR: TFP Solutions Bhd has proposed to dispose of two units of 4-storey shopoffices in Bandar Puteri, Puchong. The company is listed on the ACE market on Bursa Malaysia.

KUALA LUMPUR: JAKS Resources Bhd saw its net profit for the third quarter ended July 31, 2009 (3QFY09) plunge 86.17% to RM214,000, from RM1.55 million the previous year, despite higher revenue. The dip was due to the weakened selling price for steel related products.

KUALA LUMPUR: Crescendo Corp Bhd’s net profit for the second quarter ended July 31, 2009 dropped by 21.44% to RM5.73 million, from RM7.3 million a year earlier on lower sales of properties and concrete products.

The company said in a filing to Bursa Malaysia on Sept 30 that the concrete products margin is squeezed mainly due to materials cost fluctuations.

KUALA LUMPUR: Mah Sing Group Bhd has been awarded the “Best Developer” in the Euromoney Real Estate Awards 2009. This is the second year running that the Group has been won the title.

KUALA LUMPUR: Several property stocks rose in late afternoon on Wednesday, Sept 30, with Berjaya Land, Magna Prima and IJM Land bucking the weaker market.At 3.34pm, Berjaya Land was up 13 sen to RM3.92 with 100,600 shares done.

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) is set to launch the second phase of St Mary Residences, located in the heart of Kuala Lumpur’s central business district (CDB) along Jalan Sultan Ismail, Jalan P Ramlee and Jalan Tengah on Oct 1.

MADRID: Spanish home prices fell for a seventh quarter in the three months through June as mortgage lending contracted and the worst recession in 60 years pushed up unemployment.

PETALING JAYA: The residential sector is leading the recovery of Hong Kong’s real estate market, with the luxury residential segment showing the biggest and quickest rebound.