Bertam Alliance to launch RM310m high-end projects

By BUSINESS TIMESThe developer will launch three high-end projects in Selangor and Langkawi to ride out the economic downturn and remain profitablePROPERTY developer Bertam Alliance Bhd (9814) will launch three high-end projects worth a combined RM310 million in Selangor and Langkawi to ride out the economic downturn and remain profitable.The company hopes to maintain its [...]


IGB puts 2 big projects on hold

By BUSINESS TIMESUnfavourable market conditions have caused IGB Corp Bhd (1597) to delay two major projects with an estimated combined value of RM1.5 billion to RM2 billion.This will likely affect its property development division in the current financial year ending December 31 2009.Last year, revenue from property development fell by a third to RM169.97 million [...]


US home sales up in April, inventories swell

By REUTERSWASHINGTON: Sales of previously owned US homes rose in April, a report showed yesterday, providing more evidence the housing market is stabilising and backing views the recession is nearing an end.The National Association of Realtors said sales climbed 2.9 per cent to an annual rate of 4.68 million as the traditional spring home-buying season [...]


IGB plans more hotels abroad

By THE STARIt is in talks in Vietnam, China, Thailand, Australia KUALA LUMPUR: IGB Corp Bhd is in talks with 10 parties on developing hotels in Vietnam, China, Thailand and Australia. Group managing director Robert Tan said the development might be in the form of joint venture, asset management or to wholly-own the entity itself. [...]


E&O posts loss on lower property contribution

By THE STARIt seeks to raise RM500mil to fund new launches, reduce gearing KUALA LUMPUR: Niche property developer Eastern & Oriental Bhd (E&O) has posted a RM44.6mil net loss for its fourth quarter ended March 31 compared with a net profit of RM9.27mil a year ago. For the full year, the group saw a RM37.7mil [...]


Low property purchases by MM2H participants

By THE STARGEORGE TOWN: If each of the 11,738 participants of the Malaysia My Second Home (MM2H) programme between 2002 and 2008 were to invest in a residential property, the country would have recorded RM7.8bil worth of sales from them. But the actual sales amounted to RM407mil as only 510 of them bought houses during [...]