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Construction of hotels to help state Islamic religious councils

KUALA LUMPUR: The Malaysian Endowment Foundation is building five 3-star hotels on its endowment land in Terengganu, Perak,Melaka, Negeri Sembilan and Kelantan.

Minister in the Prime Minister's Department Datuk Seri Jamil Khir Baharom said on Monday May 17 the hotels, which cost RM100 million each, were expected to be completed between next year and 2012.

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Salcon's unit bags RM84.21 million contract from PAAB

KUALA LUMPUR: Salcon Bhd's unit Salcon Engineering Bhd (SEB) secured a RM84.21 million contract from Pengurusan Aset Air Bhd (PAAB), bringing its total order book value to a whopping RM1.3 billion.

The new contract is for the design and build of a water treatment plant and associated work at Sg Labu, Selangor, said Salcon in a statement on Monday May 17.

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Sunway accepts sub-contract in Abu Dhabi development

KUALA LUMPUR: Sunway Creative Stones Sdn Bhd (Abu Dhabi Branch), a 70% owned subsidiary of Sunway Construction Sdn Bhd, which in turn is a wholly-owned subsidiary of Sunway Holdings Bhd has accepted a letter of award for a sub-contract worth AED74.5 million (about RM65.69 million) on May 13.

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JPK Holdings disposing properties worth RM5.12 million

KUALA LUMPUR: JPK Holdings Bhd, a manufacturer of precision plastic injection moulded parts is selling off 40 of its properties at a total value of RM5.12 million.

Its unit JPK (Malaysia) Sdn Bhd had on May 14 entered into sale and purchase agreements with respective purchasers for the disposal of the properties, it said in a listing on Bursa Malaysia on Monday May 17.

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OSK Property 1Q FY2010 net profit drops 29.25%

KUALA LUMPUR: OSK Property Holdings Bhd saw its net profit for the first quarter ended March 31, 2010 (1Q FY2010) drop 29.25% to RM1.88 million, from RM2.66 million the previous year due to higher selling and marketing expenses incurred during the period.

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