City&Country: Briefs

Kuching City wins Sustainable City Award
The Kuching North City Commission (DBKU) has won the Sustainable City Award at the National Environmental Awards 2009/2010 for the second consecutive time.

“Being sustainable means that the city is efficiently managed to ensure development does not threaten the environment. The Sarawak River cleaning project, integrated solid waste management and city landscape beautification were highly praised by the evaluation panel,”  says DBKU mayor Mohd Atei Abang Medaan.

He adds that DBKU has shown a marked improvement in its environmental conservation efforts. Among them are an increase of its recycling ratio from 11.6% in 2007 to 13% in 2009, improved traffic congestion mitigation by relocating the Gambier Street market and the setting up of parks.

Shangri-La Hotels 3Q net profit sees significant improvement
Shangri-La Hotels (Malaysia) Bhd’s net profit for 3QFY2010 almost doubled to RM23.5 million from RM12.6 million recorded a year earlier. The group announced on Nov 9 that profit before tax for 9MFY2010 rose by 86% to RM71.6 million, compared with RM38.5 million last year.

“It was largely boosted by substantially higher revenue and profit contributions form Shangri-La Hotel Kuala Lumpur and Golden Sands Resort in Penang after the completion of extensive renovations to guestrooms and facilities in late 2009,” the company says. Earnings per share for the quarter stood at 5.34 sen, compared with 2.87 sen a year ago. The group expects its hotels and resorts to fare well for the rest of the year, in line with the expected continuing recovery in demand from both the business and leisure travel markets.

This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 832, Nov 15-21, 2010

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.