Last weekend, Ideabox debuted their newest prefab home at the Portland Home and Garden Show. The Fortino is meant for an urban lot and packs a lot in a small punch. The two bedroom house easily fits into a 50 x 100 foot space, with plenty of room around it for a yard and landscaping. For the exhibit at the Portland Home and Garden Show, Ideabox set up their model home, called in several landscapers to deck out the exterior and had Crate & Barrel decorate the interior.

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Post tags: "energy star", crate & barrel, energy star home, fortino, ideabox, Portland, Prefab, prefab home, Prefab Housing, small spaces

If the threat of rising seas and altered ecosystems isn’t enough to convince lawmakers we need some serious climate legislation, maybe the financial bottom line will. A report released today indicates that Arctic melting could cost global agriculture, real estate and insurance anywhere from $2.4 trillion to $24 trillion by 2050!

Read the rest of New Report Shows Arctic Melt Could Cause $24 Trillion in Damages by 2050

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Post tags: Arctic ice melt, Arctic Treasure Global Assets Melting Away, climate legislation, cost of Arctic ice melt, methane, methane and climate change, Pew Charitable Trust, Pew Environment Group, Reuters

The Employees Provident Fund (EPF) has declared a dividend rate of 5.65 per cent for the financial year ended Dec 31, 2009, up 115 basis points over the 4.50 per cent paid out for 2008. The dividend rate was declared on the back of the highest ever net income achieved of RM19.63 billion, increasing 34.82 per cent from RM14.56 billion recorded in the previous year. "2009 was a significant year for the EPF as it rode out the impact of the global financial crisis. While the EPF continues to be challenged by the fragile economic environment, our investment nonetheless delivered a sound performance for the year," chairman Tan Sri Samsudin Osman said in a statement on Friday. During the year under review, 72.53 per cent of the total investment were devoted to fixed income instruments in line with EPF's prudent approach, while 27.05 per cent was in equities and the remainder in property. As at Dec 31, 2009, EPF's investment portfolio grew 8.55 per cent or RM29.25 billion to RM371.26 billion from RM342.01 billion in 2008. On prospects for 2010, Samsudin said: "Baring any unforeseen circumstances, prospects for 2010 are greatly dependent on the economic performance of the country and internationally." He said globally, financial markets continued to be volatile and this might have an impact on the price performance of EPF's investments and future income. "We will continue to focus on our key goals of preserving the capital of our contributors and ensuring a satisfactory real rate of return," he added. -- Bernama

Power and automation technology group ABB Malaysia Sdn Bhd expects to achieve significant growth in line with the property market recovery this year. ABB South Asia Region Manager and Country Manager Sim Boon Kiat said the property market is expected to improve through the number of transactions involving new housing and construction activities. The Malaysian property market registered transactions worth RM75.42 billion through 337,990 properties last year as compared with 340,240 properties valued at RM88.34 billion in 2008. He said the company's low voltage products division was eyeing 40 per cent revenue growth this year, he said. "It is achievable as we are expecting a good demand for the newest Sace Formula range of products," he said after launching the new family of Sace Formula, a moulded-case circuit breakers for the Malaysian market. -- Bernama

Malayan Banking Bhd. surged to a 22-month high in Kuala Lumpur trading, leading a rally by Malaysian banks after analysts said the central bank's first interest rate increase in four years will bolster lending margins. Maybank, as the biggest Malaysian bank is known, jumped 5.6 per cent to close at RM7.40, the highest level since April 23, 2008. It's also the second-best performer on the FTSE Bursa Malaysia KLCI Index today, which climbed 1.2 per cent. CIMB Holdings Bhd rose 1 per cent to RM13.72 and RHB Capital Bhd added 3.5 per cent to RM5.70. The Kuala Lumpur Finance Index of 38-related finance-related stocks surged 1.9 per cent to a record 11,537.66. "Banks are set to enjoy margin expansion" as the lending rates are "expected to be re-priced upwards by a larger magnitude than deposit rates," Winson Ng, an analyst at CIMB Investment Bank Bhd said in a report today. "This would outweigh the rate hike's potential negative impact, including slower loan growth and higher" bad debts, he said. Malaysia's central bank raised its benchmark rate for the first time since April 2006, saying record-low borrowing costs were no longer warranted as the economy emerges from recession and inflation accelerates. Bank Negara Malaysia increased its overnight policy rate to 2.25 per cent from 2 per cent, it said in Kuala Lumpur yesterday. The decision was forecast by 13 of 29 economists surveyed by Bloomberg News. The rest expected no change. Earnings Boost Every 25 basis-point increase in the policy rate will bolster Malaysian bank earnings by an average 3.5 per cent on a full-year basis, CIMB's Ng said. CIMB, Hong Leong Bank Bhd and RHB Capital stand to benefit the most given their higher proportion of variable rate loans, which allows them to increase their rates, boosting margins, according to HwangDBS Vickers Research Sdn Bhd in a report today. AMMB Holdings Bhd. will be a "loser from the interest rate increase as the bank has a lower proportion of variable rate loans, RHB Research Institute Sdn Bhd said in a report today. Shares of AMMB dropped 1.8 per cent to RM4.80, the lowest close since Feb. 9. Banks are expected to announce their revised base lending rates and deposit rates next week, CIMB said. An increase in deposit rates are expected to be narrower than the base lending rate increase given the "ample liquidity in the market," Ng said. -- Bloomberg

South Korea, Asia's third-biggest buyer of base metals, bought 200 metric tons of tin ingots today, according to a state agency official. The Public Procurement Service, the state agency that stockpiles strategic commodities, bought the Malaysian metal from Hanwha Corp at a premium of US$530-a-ton more than the London Metal Exchange official cash settlement price, Bae Cheol Kyu, the agency official, said by phone today. -- Bloomberg

Berjaya Assets Bhd's wholly-owned subsidiary, Berjaya Times Square Sdn Bhd has disposed of 8.15 million shares in Berjaya Corporation Bhd for about RM10.68 million which would be utilised to repay bank borrowings. The disposals is not expected to have any effect on the issued and paid-up share capital of Berjaya Assets nor will it have any material effect on the net asset and gearing of the Berjaya Assets Group. -- Bernama

BANK Simpanan Nasional (BSN) today announced its new Base Lending Rate of 5.75 per cent effective March 9. The new rate move was in line with Bank Negara Malaysia's decision to raise the Overnight Policy Rate (OPR), the bank said in a statement here today. Yesterday, the central bank raised the OPR by 25 basis points to 2.25 per cent, saying that the country''s economy had improved and that the new OPR would continue to support further economic growth. BSN also said the central bank was reviewing the deposit rate and would be announcing it in the near future. Meanwhile BSN, in synch with its role of providing financial access to the people, would continue to beef up its core strengths in offering various financial services and making it convenient for its clients and the general public to carry out transactions with the bank, said its General Manager/Chief Executive Datuk Adinan Maning. -- Bernama

Business Room. Excluding breakfast. Located along the busy streets of Chinatown in Kuala Lumpur, Malaysia, Replica Inn provides affordable accommodation for travellers on a budget with easy access to transport links. Rooms are cosy and comfortable and come with an en-suite bathroom. They are also fitted with all the basic amenities needed for a pleasant stay that include individually controlled air-conditioning. Replica Inn also offers several guest services to make your stay more enjoyable. Laundry and dry cleaning services are available, as well as car rental. If you're looking for more information on sight-seeing and tours, just enquire with the friendly staff. The hotel also has a casual cafe for meals and internet access is available in the lobby. Replica Inn Chinatown is close to several eateries, shops and entertainment options. It is also within walking distance from Puduraya Station and Plaza Rakyat LRT station, which makes travelling easy and cost effective.

RHB Bank Bhd has entered into a memorandum of understanding (MOU) with TM Asia Life Malaysia Bhd for the establishment of a mutually exclusive 10-year bancassurance alliance in Malaysia. The MOU did not create any legally binding obligation on the parties to enter into the transaction, RHB Investment Bank Bhd told Bursa Malaysia on behalf of RHB Capital Bhd today. RHB Bank is a wholly-owned subsidiary of RHB Capital. TM Asia offers a complete range of insurance and investment-linked products for both individuals and corporate including protection plans, wealth accumulation plans, education plans, retirement plans, medical insurance and group insurance. As at Dec 31 2008, TM Asia has total assets in excess of RM3.7 billion with more than 99 per cent invested in Malaysia. Its operating revenue was RM695 million. - BERNAMA