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Selangor MB defends acquisition of Talam debts

SHAH ALAM: Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim has defended the move to buy out debts owed by Talam Corp Bhd to several state agencies, saying it was a state matter.

Khalid, who described the decision made on Talam as a "financial and technical issue", said it was discussed and deliberated thoroughly at all levels, including within Parti Keadilan Rakyat (PKR).

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Berjaya Times Square to dispose of eight units of properties

KUALA LUMPUR: Berjaya Times Square Sdn Bhd (BTSSB) has entered into eight Sale and Purchase agreements with Dian Kristal Sdn Bhd (DKSB) for the proposed disposal of eight units of properties located on the ground floor, the 14th floor and 16th floor in the Berjaya Times Square mall and complex for a total cash consideration of RM23.77 million.

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Hua Yang’s net profit for 2Q up by 18%

KUALA LUMPUR: Hua Yang Bhd’s net profit rose 18% to RM2.737 million for its second quarter ended Sept 30, 2009 (2QFY2009) from RM2.329 million in the same period last year. 

However, its revenue for 2QFY2009 was lower by 14.74% at RM23.893 million from the RM28.024 million recorded in the same period last year. 

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Plenitude to launch six new projects

KUALA LUMPUR: Plenitude Bhd plans to launch six new projects with a gross development value (GDV) of RM280 million in its financial year ended June 30, 2010.

Its executive chairman, Chua Elsie said the group has outlined several launches that includes the first ever bungalow development at Taman Desa Tebrau, Johor.

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YTL Corp to embark on restructuring of REIT

KUALA LUMPUR: YTL Corp Bhd plans to embark on a restructuring of the RM8 billion real estate investment trust (REIT) and hotel portfolio under its control.

The restructuring exercise will rationalise YTL Corp's retail and hotel asset portfolio by repositioning Starhill REIT as a global hospitality REIT, said its managing director Tan Sri Francis Yeoh.

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TA Enterprise sees hotel earnings triple

KUALA LUMPUR: TA Enterprise Bhd's hotel sector earnings are expected to triple in financial year ending Jan 31, 2011 (FY2011), following recent acquisitions including 4-star hotel Swissotel Merchant Court Singapore, that received shareholder approval at an EGM on Nov 18.

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