KUALA LUMPUR: The Malaysian government's electronic procurement system, ePerolehan's module on eBidding, has bagged the eINDIA 2009 Award for Government-to-business (G2B) Initiative.

The eBidding module has helped reduce government expenditure by between 20 and 40 per cent of the allocated budget, said system developer, Commerce Dot Com Sdn Bhd in a statement on Friday Jan 22.

BAGHDAD: The city of Baghdad asked foreign companies on Thursday Jan 21 to sign up for a project to design and build 75,000 apartments, the first phase of a US$10 billion plan to rebuild the Iraqi capital's sprawling Sadr City slum.

KUALA LUMPUR: Hotel investment volume in Europe, Middle East and Africa (EMEA) could increase by almost 40% from the 2009 volume, reaching €4.1 billion in 2010, according to consultancy Jones Lang LaSalle Hotels.

The projection is based on improving economic conditions, strengthening investor confidence and an increase in stock.

KUALA LUMPUR: Six directors of Golden Plus Holdings Bhd (G Plus) has obtained the green light from the High Court on Friday Jan 22 to challenge Bursa Malaysia Securities Bhd for its public reprimand over a delay in submitting the company's annual audited accounts and annual report.

KUALA LUMPUR: Kenanga Investment Research has upgraded SP Setia to BUY, from Trading BUY, with higher fair value of RM4.90.It said on Friday, Jan 22 its fair value implied FY10E price-to-earnings ratio (PER) of 24 times, which are peak valuations experienced over FY07; but FY11-12E valuations become compelling at 19 times to 17 times PERs.

PETALING JAYA: K Soma Sundram, the immediate past president of the Malaysian Institute of Estate Agents, has been appointed Director and Head of Project marketing of Reapfield Properties as of January 2010. His role will see him handling both local and international projects for the company.

KUALA LUMPUR: Kenanga Investment Research has upgraded S P Setia Bhd (S P) to BUY, from Trading BUY, with higher fair value of RM4.90.

It said on Friday, Jan 22 its fair value implied FY10E price-to-earnings ratio (PER) of 24 times, which are peak valuations experienced over FY07; but FY11-12 estimated valuations become compelling at 19 times to 17 times PERs.

KUALA LUMPUR: Atrium Real Estate Investment Trust (REIT) fell short of its pre-tax profit and gross revenue projections for the year ended Dec 31, 2009 by 15% and 5.6% respectively.

KUALA LUMPUR: Quill Capital Management Sdn Bhd (QCM), the manager of Quill Capital Trust (QCT), announced a total revaluation surplus of RM692,000 for the nine properties held under the trust, following a revaluation exercise recently.

KUALA TERENGGANU: An alert assistant land administrator has foiled an attempt by a syndicate to change the ownership of a piece of land in a village near here with the use of a forged MyKad, and led police to the arrest of three men.