KUALA LUMPUR: Gamuda Bhd reported a net profit of RM94 million in the second quarter (2Q) for the financial year ending July 31, 2011, an increase of 20% compared to RM78 million recorded in the preceding year corresponding quarter due to higher contribution from all divisions.

GEORGE TOWN: The Penang Barisan Nasional (BN) congratulated Chief Minister Lim Guan Eng for taking up its advice to sue whoever the state deems is responsible for any wrong-doing in the Pulau Jerejak issue.

Its working committee chairman Datuk Dr Teng Hock Nan said he was happy that Lim had finally taken the right approach to solve the matter.

TOKYO: Global commercial real estate firm Jones Lang LaSalle is donating ¥100 million (RM3.7 million) to the Japanese Red Cross to provide aid and relief to Japan following the earthquake and Pacific Tsunami that have left massive destruction to the country.

The Red Cross is a charitable organisation that depends on volunteers and the generosity of the public to perform its mission.

KUALA LUMPUR: Bandar Raya Developments Bhd (BRDB) has officially launched its latest residential development 6 CapSquare — located within the 15.2-acre integrated development of CapSquare — which aims to capture the urban professional market, as it is surrounded by Jalan Dang Wangi, Jalan Munshi Abdullah and Jalan Ampang.

KUALA LUMPUR: Eastern & Oriental Bhd's (E&O) two wholly-owned subsidiaries — E&O Property Development Bhd and Samudra Pelangi Sdn Bhd — have disposed of their entire securities interest in Fututech Bhd for a total cash consideration of RM8,780,103.93.

KUALA LUMPUR: Moody's Investors Service is cautious about Singaporean industrial real-estate investment trusts’ (S-REITs) plans to expand into China due to a number of business risks, particularly because of the legal and regulatory environment.

KUALA LUMPUR: PN 17 company Tracoma Holdings Bhd may have found a white knight in Yasmin group to rescue it from being delisted.

Tracoma announced on Wednesday, Mar 23 it had inked a memorandum of understanding with Yasmin Holdings Sdn Bhd as part of a revised scheme plan via a corporate exercise to be determined later.

S P Setia Bhd (Mar 23, RM6.18)
Maintain buy at RM6.15 with lower target price RM7.10 (from RM7.20): The recent selldown of S P Setia shares represents a golden opportunity to buy the stock given the company's excellent sales performance and earnings growth prospects.

GEORGE TOWN: The Penang government has decided to commence legal action against Tropical Island Resort (TIR), which operates a resort on Pulau Jerejak, to recover RM10.6 million in land premium owed for 80 acres (32ha) of land on the island.

WASHINGTON: New US single-family home sales unexpectedly fell in February to hit a record low and prices were the lowest since December 2003, a government report showed on Wednesday, Mar 23, suggesting the housing market slide was deepening.