KUALA LUMPUR: The residential property market is expected to thrive this year as it rides on the surge in demand, particularly in the medium-high segment, says MIDF Amanah Investment Bank Bhd.

KUALA LUMPUR: Main board-listed Hunza Properties Bhd’s profits for its second quarter financial year ending June 30, 2010 surged 83% to RM12.95 million from RM7.06 million in the same period a year ago.

KUALA LUMPUR: Main board-listed Naim Holdings Bhd appointed new executive directors (ED) to lead the company on Feb 2 after one of its EDs and another deputy managing director (MD) resigned, according to a statement to Bursa Malaysia.

HONG KONG/SHANGHAI: The property investment arm of Morgan Stanley is in final talks to sell an apartment complex in China to a unit of Singapore's Keppel Land, sources close to the deal said on Feb 2.

The overall value of the property is estimated at about 900 million yuan (RM444.32 million).

SHANGHAI: China's banking regulator has ordered banks to conduct checks to see whether any of their loans have illegally gone into the stock or property markets, a banking source told Reuters on Monday Feb 1, the latest move in a clampdown on excessive bank lending and rising asset prices.

HONG KONG: The estimated number of residential mortgage loans (RMLs) in negative equity in Hong Kong fell 44 percent to 466 cases at the end of December from 835 cases at the end of September as property prices rose, data from the Hong Kong Monetary Authority showed.

KUALA LUMPUR: In its latest monetary policy statement on Jan 26, Bank Negara Malaysia (BNM) kept the Overnight Policy Rate (OPR) unchanged at 2%, as widely expected, and reiterated the “appropriateness” of the current monetary policy stance against the backdrop of re-emerging inflation, Standard Chartered Global Research said on Feb 1.

SETIU, (Terengganu): Peladang Setiu Agro Resort (PSAR) Sdn Bhd, a wholly owned subsidiary of Pertubuhan Peladang Setiu will invest RM12 million to develop six resorts at Laguna Gong Batu in Setiu this year.

PSAR managing director Mohamad Saipuddin Abas said the company had applied to the state government for a 12 hectare site for the resort project which includes aquaculture farms.

SHAH ALAM: Yayasan Melaka has helped Yayasan Basmi Kemiskinan (YBK) Selangor to settle its quit rent arrears amounting to RM5.7 million to the Selangor government on Monday Feb 1 afternoon, YBK Selangor chairman Datuk Zainal Abidin Sakom said.

The payment was made online to the account of the state treasury by Yayasan Melaka at 3pm, he told Bernama when contacted here.