Late last year, banks reportedly agreed to end a fierce mortgage price war so that they could protect their profit margin. Aside from the removal of zero-moving cost, many banks revised their mortgage rates upward to around BLR -1.8% to BLR -1.9%, up from BLR -2.3% or even BLR -2.4%.

WASHINGTON: Sales of previously owned US homes took a record plunge in July to their slowest pace in 15 years, underlining the housing market’s struggle to find its footing without government aid.

KUALA LUMPUR: IJM Corporation Bhd, which already has an order book of RM3.6 billion, is looking to add another RM2 billion worth of jobs into its stable in the current financial year ending March 31, 2011.

IJM’s out-going CEO and managing director Datuk Krishnan Tan said that the company’s presence abroad has helped it with the task of replenishing the order book.

KUALA LUMPUR: The Dockland's Prime Avenue Baltimore Wharf mixed-use development project in London is looking to sell its first phase of apartments units to Malaysian buyers this weekend during its Aug 28 and 29 sales event in Kuala Lumpur, reveals Henry Butcher Malaysia.

Selangor Dredging
1Q11 net profit within expectations

KUALA LUMPUR: Mah Sing Group Bhd posted net profit of RM29.16 million in the second quarter ended June 30, 2010, up 26.5% from RM23.04 million a year ago.

It said on Thursday, Aug 26 that revenue jumped 72.8% to RM289.05 million from RM157.23 million. Earnings per share were 3.55 sen versus 3.67 sen.

IJM Land
1Q11 exceeds expectations

NEW YORK: A soaring new office building planned for midtown Manhattan won the approval of the New York City Council on Wednesday, Aug 25 despite objections from the Empire State Building that it will diminish the iconic skyline.

KUALA LUMPUR: M K Land Holdings Bhd posted revenue and net profit of RM323.48 million and RM11.19 million respectively for its financial year ended June 30, 2010 (FYE 2010), compared to revenue and net profit of RM246.59 million and RM18 million respectively posted a year ago.

KUALA LUMPUR: Bolton Bhd posted a net profit of RM5.06 million from a revenue of RM53.21 million for its first quarter (1Q) ended June 30, 2010, compared with a net profit of RM5.86 million from a revenue of RM58.47 million posted a year ago.