KUALA LUMPUR: Malaysians who have locked in their investments in central London’s prime residential properties recently can expect strong gains on the back of a recovery in the pound sterling over the next few years, said Savills director of international sales James Talbot.“I think the pound will recover faster than the dollar, which means that if the ringgit goes up to 5.80 against the pound,

Above expectation

Highlights:

IRVINE (California): About 25% of all homes transacted in the third quarter (3Q) are foreclosure homes, with prices of these properties which are at various stages of foreclosure 32% lower than average properties, according to online foreclosure properties marketplace RealtyTrac.

KUALA LUMPUR: The recent RM4.5 billion offer by Sunway Sdn Bhd for the assets and liabilities of Sunway City Bhd (SunCity) and Sunway Holdings Bhd has no immediate rating impact on the ratings and outlook of the two entities' debt issues, RAM Ratings says.

KUALA LUMPUR: The Housing and Local Government Ministry will amend the Housing Development (Control and Licensing) Act 1966 to tackle the problems of abandoned housing projects in the country.

KUALA LUMPUR: Konsortium Transnasional Bhd's wholly-owned subsidiary, Syarikat Kenderaan Melayu Kelantan Bhd (SKMK), has proposed to dispose off its properties in Kota Bharu, Kelantan for RM8.6 million.

The disposal will enable SKMK to utilise the proceeds for working capital purposes, Konsortium Transnasional said in a filing to Bursa Malaysia on Thursday, Dec 2.

KUALA LUMPUR: Glomac Bhd recorded a net profit increase of 70% to RM15.88 million compared to RM9.202 million a year ago in its 2Q financial statements, the group said on Thursday, Dec 2.

MELBOURNE: Victoria's residential market is poised to enjoy long-term, albeit slow, growth on strong economic fundamentals, said international real estate service provider CB Richard Ellis (CBRE).

KUALA LUMPUR: JAKS Resources Bhd, via its wholly-owned subsidiary JAKS Sdn Bhd, entered into a joint venture (JV) agreement with IJM Corporation Bhd, also via its wholly-owned subsidiary IJM Construction Sdn Bhd (IJMC), for a construction contract for the Pahang-Selangor Raw Water Transfer Project amounting to RM268.53 million, the group announced on Thursday, Dec 2.

HONG KONG/SINGAPORE: Asian governments have imposed a raft of measures aimed at preventing their property markets from taking off too quickly, but the region still offers investors some of the most prospective real estate globally.