KUALA LUMPUR: Hai-O Enterprise Bhd unit, Hai-O Properties Sdn Bhd (HOP), has entered into a share sale and shareholders agreement with Sierra Equatorial Development Sdn Bhd (SED) to venture in the property investment and development business.

PETALING JAYA: The retail industry is expecting a market growth of 10% to 15% when the import duty abolishment on 300 tourism-related products proposed in Budget 2011 is implemented.

Budget 2011 was tabled by Prime Minister Datuk Seri Najib Razak last Friday, Oct 15.

FRANKFURT: Aberdeen Asset Management's German real estate unit is to liquidate the €1.3 billion (RM5.63 billion) Degi Europa open fund it froze two years ago to prevent a glut of asset sales.

SINGAPORE: American travelers emerged as the nationality that was willing to spend the most on a hotel room when travelling abroad, the Hotels.com Hotel Price Index revealed.

American travelers will spend an average of S$224 (RM535) per room per night, despite restricting themselves to a mere S$159 when travelling within America.

NEW YORK: Carl Paladino, the Republican candidate for governor of New York, blames the US housing bubble that triggered the global financial crisis on a single person — his Democratic opponent, Andrew Cuomo.

"The housing bubble occurred because of one man — that was Andrew Cuomo," Paladino told Reuters in an interview on Thursday, Oct 21.

SHAH ALAM: Setia City, the 240-acre (96 hectares) integrated commercial hub in S P Setia Bhd's Setia Alam township in Shah Alam aims to be the first green integrated commercial development in the country.

KUALA LUMPUR: PLB Engineering Bhd has appointed Tengku Naizatul Shima as its independent, non-executive director, the company said in a Bursa filing on Thursday, Oct 21.

The 44-year old started her career in public affairs with UMW Holdings Bhd in 1991 before joining Perusahaan Otomobil Sdn Bhd (Perodua).

She later joined Sony (Malaysia) Sdn Bhd in 1998 as general manager.

KUALA LUMPUR: Atrium Real Estate Investment Trust (Atrium-REIT) saw its net profit decline marginally to RM2.7 million for the third quarter ended Sept 30, 2010 (3Q) from RM2.81 million a year ago despite slightly higher revenue of RM3.6 million from RM3.54 million a year ago.

Its earnings per unit dropped to 2.22 sen from 2.31 sen, it announced on Bursa Malaysia on Thursday, Oct 21.

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) net profit for the third quarter ended Sept 30, 2010 fell to RM40.51 million from RM52.68 million a year earlier, due mainly to higher impairment losses on loans advanced and lower income from Islamic banking operations.

Its revenue for the quarter however jumped to RM317.66 million from RM162.37 million in 2009.