KUALA LUMPUR: Sarawak-based Hock Seng Lee Bhd (HSL) has achieved a 30% increase in net profit for the first quarter ending March 31, 2010 with RM13.541 million compared with RM10.419 million in the corresponding quarter in 2009. Revenue collected during the quarter under review was up 19% to RM92.406 compared with RM77.878 million in 1Q 2009.

KUALA LUMPUR: CapitaMalls Asia, the leading shopping mall owner in Asia expects to achieve returns on investments (ROI) for its three retail properties in Malaysia within 15 years, according to Sharon Lim, CapitaMalls Asia country head, Malaysia.

KUALA LUMPUR: Suasana Loft and Suasana Sentral condominium residents at Kuala Lumpur Sentral will be temporarily relocated to either the La Meridian or Hilton Kuala Lumpur hotels nearby during concrete pouring sessions at the 348 Sentral development site.

CHANGLUN (Kedah): Agencies under the Agriculture and Agro-based Industry Ministry have been directed against issuing Certificates of Firness (CF) to projects that do not meet the required criteria.

TOKYO: Japanese real estate asset manager Kenedix Inc said on Tuesday May 25 that it plans to launch a 10 billion yen (US$110.8 million) private fund to invest in Japanese office and commercial buildings, in the latest sign that the country's property market is picking up.

KUALA LUMPUR: It would be a healthy year for the construction industry as projects awarded under the RM60 billion second stimulus package are expected to start in the next two quarters.

THE BUZZ

The Prime Ministers of Malaysia and Singapore have proposed the joint development of a rapid transit link between Tanjung Puteri, Johor Bahru and Singapore. It will be integrated
with public transport services in both Johor Bahru and Singapore and is expected to be operational by 2018.

HONG KONG: Sands China, the Macau unit of US casino operator Las Vegas Sands has awarded contracts worth more than 1 billion patacas (US$120 million) to Macau contractors for its planned mega-resort on Macau's Cotai Strip, saying construction of the troubled project has resumed.

WASHINGTON: Sales of previously owned US homes rose more than expected in April to a five-month high as buyers rushed to close contracts before the expiry of a homebuyer tax credit.

KUALA LUMPUR: The 20-year-old hot-button topic between Malaysia and Singapore over parcels of railway land in Woodlands, Kranji and Bukit Timah in the city-state has been resolved.