Shares of General Growth Properties Inc. fell 4.5 percent yesterday after an investment adviser said in a report that the bankrupt mall owner's stock is overvalued.

"It is questionable whether there will be any value for current shareholders in GGP common stock," Washington-based Hovde Capital Advisers LLC said in a 73-page report. Funds advised by Hovde and one of its principals have short positions in Chicago-based General Growth shares, meaning they are betting the stock will fall, the report said.

General Growth owns and manages seven malls in Hawai'i, including Ala Moana Center in Honolulu and the Prince Kuhio Plaza in Hilo.

KCC FARMERS MARKET HOSTS CHARITY DRIVE

Starting this weekend, the Saturday morning Kapi'olani Community College Farmers Market is inviting shoppers to donate fresh food and goods to charity.

The items will be collected by volunteers and given to the Institute for Human Services and Unity Church of Hawai'i to be distributed to those in need.

The Hawaii Farm Bureau, which coordinates the market, is donating a tent and table to be used for the "Give It Fresh Today" project in January.

BIG ISLAND ID THEFT SUSPECT CHARGED

Big Island police are crediting the public for its help in identifying an ID theft suspect from surveillance photos.

Authorities have charged 25-year-old Richard Noeau Oili-Sanchez of Hilo, according to Lt. Mitchell Kanehailua. Oili-Sanchez was being held in lieu of $18,250 bail.

He is facing one count of unauthorized possession of confidential personal information, seven counts of fraudulent use of a credit card, seven counts of theft and seven counts of third-degree identity theft.