WASHINGTON: Sales of newly built US single-family homes fell unexpectedly in December, data showed on Jan 27, the latest indication that the government-led housing recovery might be losing some steam.

KUALA LUMPUR: The Chinatown area in Kuala Lumpur will see another budget hotel next year.

The 12-storey building is coming up on busy Jalan Hang Kasturi, near the Pasar Seni LRT station and diagonally opposite Central Market, a popular tourist destination.

KUALA LUMPUR: CIMB Equities Research expects construction sector growth and fundamentals for the building materials sector to stay positive in 2010 and beyond.

It said on Thursday, Jan 28 the growth should be sustainable given the implementation of larger government and private sector jobs this year, and increased construction on the property side.

KUALA LUMPUR: RHB Research Institute is initiating coverage on Mah Sing with an Outperform because of its fast turnaround business model with improving prospects.

It said on Thursday, Jan 28  Mah Sing is famous for its “fast turnaround” business model which enables it to crystalise land value and receive strong cash flow within a short period as well as encounter lower upfront costs.

KUALA LUMPUR: Property developer Sunway City Bhd has hired RHB Investment Bank and Credit Suisse as the main coordinators for the planned listing of its real estate investment trust (REIT) in Malaysia, sources with knowledge of the deal said on Wednesday Jan 27.

PETALING JAYA: RKT, a wholly owned subsidiary of Latitude Tree Holdings Bhd, had entered into a Sale and Purchase Agreement with Pelan Teknik Sdn Bhd (PT) on Jan 27 for the acquisition of a piece of freehold industrial land in Klang together with a 1-storey warehouse, a 3-storey office block and 1-storey factory for a cash consideration of RM10 million.

PETALING JAYA: Natural Domain Sdn Bhd (NDSB), an indirect wholly-owned subsidiary of Gadang Holdings Bhd, has entered into a Sale and Purchase Agreement (SPA) with GSS Properties Sdn Bhd on Jan 27 to acquire a parcel of residential land located off the Sungai Besi Highway for a purchase consideration of RM33 million.

KUALA LUMPUR: The Malaysian commercial property market, which ended on a high note in 2009 after a lull from mid-2008, can expect exciting times this year.

KUALA LUMPUR: Ho Hup Construction Company Bhd on Jan 27 confirmed receiving a query from the Securities Commission (SC) with regard to a "third force" acting-in-concert, pushing the company to convene an extraordinary general meeting on Feb 4.

KUALA LUMPUR: The government’s liberalisation measures carried out last year on the property sector and abolishing the 30% bumiputra equity requirement in certain sectors of the economy will have a far reaching impact on the local property sector, according to a special report by CB Richard Ellis Research, Asia on Malaysia’s Market Prospects.