KUALA LUMPUR: Ken Holdings Bhd has posted a net profit of RM6.3 million for the third quarter (3Q) ended Sept 30, 2010 — more than double its net profit of RM2.95 million from a year ago, underpinned by higher revenue.

In a filing to Bursa Malaysia on Monday, Nov 22, the group more than doubled its turnover to RM20.26 million from RM8.6 million.

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) has posted a net loss of RM1.78 million for its third quarter (3Q) ended Sept 30, 2010 from a net profit of RM2.23 million a year ago, despite higher revenue.

KUALA LUMPUR: LBI Capital Bhd's net profit declined by 26% to RM1.32 million for its third quarter (3Q) ended Sept 30, 2010 from RM1.8 million a year ago underpinned by lower revenue, the group announced to Bursa Malaysia on Monday, Nov 22.

Its revenue dropped 15.2% to RM10.53 million from RM12.42 million, due to the completion of its major project and the slow start of new projects.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) saw its net profit shrink by 63% to RM3.6 million for its third quarter (3Q) ended Sept 30, 2010 from RM10.01 million a year ago, despite slightly higher revenue.

Its revenue increased by 5.3% to RM270.91 million from RM257.11 million, said in a filing to Bursa Malaysia on Monday, Nov 22.

KUALA LUMPUR: Plenitude Bhd's net profit surged 72.3% to RM20.24 million for its first quarter ended Sept 30, 2010, from RM11.74 million a year ago, underpinned by higher revenue.

The group had posted turnover of RM77.08 million, representing a 33% increase from RM57.95 million, according to a filing to Bursa Malaysia on Monday, Nov 22.

BEIJING: Some of China's top trust companies have halted property-related lending and investment following a regulatory order, four sources told Reuters on Monday, Nov 22.

HONG KONG: The government slapped additional stamp duty on property speculation last Friday, Nov 19 in a desperate move to rein in rampant home-price inflation. The monetary authority lowered the mortgage ratio for costlier flats.

HONG KONG: To nature lovers, Hong Kong's countryside is priceless. But to the government and the courts, its value seems to be much lower. Depending on the case, penalties for environmental offences can range from no fine at all to just a few hundred dollars.

HONG KONG: The head of an influential think tank says property sellers who engage in speculative activities should be made to pay hefty stamp duty.

Anthony Wu Ting-yuk, chairman of the Bauhinia Foundation Research Centre, said the government should impose a new stamp duty on apartments that are sold within six months to one year after they were last purchased.

SHANGHAI: Policy risk is driving both developers and foreign investment funds away from China's residential market and towards commercial property, say analysts.

And it is a trend that, once under way, could continue for several years.