KUALA LUMPUR (Dec 23): Selangor Properties Bhd's (SelProp) pre-tax profit for FY11 ended Oct 31, surged by 95% to RM139.6 million from RM71.7 million in the corresponding period last year. Revenue rose to RM253.5 million from RM203.1 million previously.

KUALA LUMPUR (Dec 23): Muhibbah Engineering (M) Bhd has announced that its 50:50 joint venture with Australia's Monadelphous Group Ltd has won a A$330 million (RM1.06 billion) contract for the construction of an approach jetty and ship berth in Queensland, Australia.

SINGAPORE (Dec 23): InterContinental Hotels Group (IHG) walked away with 22 awards from 16 categories at the Hospitality Asia Platinum Awards (HAPA) 2011-2013 Regional Series.

KUALA LUMPUR (Dec 23): South Korea-based Posco Engineering & Construction Co Ltd (Posco E&C) together with Posco Engineering Co Ltd (formerly Daewoo Engineering Company) have submitted a bid for the Ampang Light Rail Transit (LRT) extension project, hoping to build an inroad into the Malaysian market.

KUALA LUMPUR: Concerns of a slowdown next year has not stemmed sales for Hatten Group’s high rise residential project  on commercial land Silverscape within its Hatten City development in Malacca. Since its launch in November, Silverscape has seen a 65% take-up, or 513 out of 760 units sold, said Hatten Group Sdn Bhd managing director Colin Tan.

KUALA LUMPUR (Dec 22): Holcim Malaysia is launching Malaysia's first green cement range in early January 2012. It recently secured the eco-label certification from Sirim in October.

KUALA LUMPUR (Dec 22): Sentoria Group Bhd, the developer and operator of the Bukit Gambang Resort City (BGRC) in Kuantan, Pahang, has received the approval from the Securities Commission to list on the Main Market of Bursa Malaysia Securities Bhd.

In a statement Thursday, Sentoria said it was aiming to be listed in the first quarter of 2012.

SHANGHAI (Dec 22): Real estate developers must begin construction on plots of idle land within three months of receiving a government notice or else lose their right to develop the land, according to revised draft rules published on Wednesday by China's Ministry of Land Resources.

WASHINGTON (Dec 22): US home sales rose in November, adding to hints of recovery, but updated data showed the housing crash was much deeper than previously thought.

The National Association of Realtors (NAR) said on Wednesday that sales of previously owned homes increased 4% from October to an annual rate of 4.42 million units.

KUALA LUMPUR (Dec 22): The Malaysian property market is likely to see a gradual slowdown next year, taking into consideration the uncertainty in the global economic situation.

Fiabci Malaysia president Yeow Thit Sang said the high end residential units were already seeing a slowdown both in pricing and the take-up rate.