Hong Kong’s biggest builder warns of slowdown as profit dips

Sun Hung Kai Properties Ltd posted a 15 per cent decrease in first-half profit as Hong Kong’s biggest developer warned of a slowdown in the city’s residential housing market. Underlying earnings, which exclude property revaluations, fell to HK$14.8 billion (US$1.9 billion) in the six months ended December 31, the company said in an exchange filing...

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Sunsuria is cautiously optimistic about the future, despite the ongoing pandemic and economic challenges

Sunsuria Berhad says it is cautiously optimistic about the future in light of the pandemic and the economic challenges it will face both domestically and internationally. The developer anticipates a gradual recovery in domestic economic growth in 2022, driven by reduced movement restrictions, sustained policy support, and rising export demand. “It is our hope that...

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  PETALING JAYA: Australia-based Lendlease and TRX City Sdn Bhd are expanding their investment in Tun Razak Exchange (TRX) by acquiring an additional 1.2-acre in the international financial district. In a statement yesterday, the companies said the land has been earmarked for a mixed-use development featuring hotel, residential and retail components. This is the second...

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Ibraco to diversify into steel manufacturing operations

KUCHING: Property developer Ibraco Bhd is set to diversify into the steel-related business via its latest investment to set up a steel manufacturing plant here. The group’s wholly-owned subsidiary Ibraco Ascent Sdn Bhd will undertake the operation of the plant, which is expected to commence by 2023. The steel plant is pegged to have an...

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Homebuyers in U.S. lose hope as costlier loans sap affordability

First-time homebuyers, already getting clobbered by bidding wars, now face a potential knockout punch: higher mortgage rates. Costs for 30-year loans hit a more than two-year high of 3.69 per cent last week, rising about 20 per cent just since Christmas. Further increases are expected as the Federal Reserve, trying to curb inflation, hikes its...

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