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IJM acquires 70% equity interest in Sova Holdings

KUALA LUMPUR: IJM Land Bhd entered into a shares sale agreement with existing shareholders of Sova Holdings Sdn Bhd (SHSB) Ong Yeng Tian @ Ong Weng Tian, Ong Seh Choon, Ong Seh Yew, Ong Chiew Gee and Ong Chiew Lee, to acquire from them a total of 210,000 ordinary shares of RM1 each.

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Jeffrey Ng to lead Sunway REIT Management

KUALA LUMPUR: Datuk Jeffrey Ng Tiong Lip is now the full-time CEO of Sunway REIT Management Sdn Bhd.

Ng was appointed to the post in March 2010 to manage Sunway REIT, which was established on May 20 upon the registration of the Trust Deed with the Securities Commission (SC), stated a release from Sunway Group on May 21.

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Ark Resources records a loss of RM116,000 in 1Q2010

KUALA LUMPUR: Ark Resources Bhd notched up a loss of RM116,000 in 1Q2010 compared with a profit of RM491,000 in 1Q2009. Revenue for the group also dropped by 49.2%, with the company garnering RM31,000 in the current quarter under review compared with RM61,000 for the same period last year.

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Hua Yang achieves 28.14% increase in 1Q net profit

KUALA LUMPUR: Hua Yang Bhd saw 1Q2010 net profit of RM3.288 million, or a 28.14% increase from RM2.566 million over the same a quarter year ago. The revenue for the group increased by 4.2% for 1Q2010, which is RM27.213 million from RM26.116 million over the same period last year.

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