Property

KUALA LUMPUR: Sime Darby Property has achieved good sales for its recent residential property launches in the Klang Valley.

The Casa Rimba superlink homes in Melawati, Kuala Lumpur launched in December 2010 has been fully sold as of Feb 24. The 26 units have sizes ranging from 3,935 to 4,010 sq ft and tagged from RM1.38 million to RM2 million.

KLANG: Dermaga Suasa Sdn Bhd (DSSB) and Sagajuta (Sabah) Sdn Bhd subsidiary Legenda Erajuta Sdn Bhd (LESB) will revive an abandoned project in Klang known as Intania Klang while developing a new concept street mall named 1Gateway adjacent to it.

KUALA LUMPUR: Chung Tze Hien, a non-independent and non-executive director of Mudajaya Group Bhd, has resigned from his post on Thursday, Mar 17, the group announced to Bursa Malaysia on Thursday.

The 60-year-old had graduated from the University of Otago, New Zealand with a commerce degree.

KUALA LUMPUR: LBS Bina Group Bhd has proposed to sell its entire stake in two companies for RM1 million, it announced to Bursa Malaysia on Thursday, Mar 17.

KUALA LUMPUR: Karambunai Corp Bhd's (KCB) unit has inked a deal with China Central Asia Group Co Ltd (CCAG) to develop the first phase of Karambunai Interated Resort City (KIRC), which will see the latter investing RM310 million in seed capital as a revolving fund for the project.

KUALA LUMPUR: Faber Group Bhd has proposed to cancel 75 sen from the current par value of RM1 per share to 25 sen per share, with the credit of RM272.3 million arising from the exercise to lower the company's accumulated losses.

In a Bursa filing on Thursday, Mar 17, the company said the figure was derived from its existing paid-up share capital of RM363 million.

KUALA LUMPUR: S P Setia Bhd's net profit rose 62.4% to RM62.03 million for its first quarter ended Jan 31, 2011, from RM38.19% a year ago on ongoing property development activities in the Klang Valley, Johor Bahru and Penang.

Its revenue swelled 42.6% to RM518.88 million from RM363.89 million, it announced to Bursa Malaysia on Thursday, Mar 17.

KUALA LUMPUR: Atlan Holdings Bhd has proposed to sell two pieces of freehold land with a single sales office in Batu Feringghi, Penang, measuring 2.78 acres for RM33 million cash, it announced to Bursa Malaysia on Thursday, Mar 17.

PETALING JAYA: The recently announced "My First Home Scheme" is set to mostly benefit smaller property developers outside the Klang Valley that offer affordable houses priced between RM100,000 and RM250,000, said property analysts.

Among the listed property developers that offer or have plans to build such properties are YNH Property Bhd and Hua Yang Bhd.