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City&Country: Offshore-- Aiming for the Peaks

An upcoming development that is expected to be the litmus test for the resilience of Singapore’s luxury residential market in the face of a jittery global stock market is Twin Peaks by Overseas Union Enterprise (OUE).

Shenzen’s first-ever large-scale shopping mall set to open in 4Q2010

KUALA LUMPUR: The Chung Ying Street Project, the first-ever large-scale shopping mall in the Yan Tian district of Shenzen, China is expected to open in fourth quarter of 2010. Developed by Shenzhen Sha Tou Jiao Commercial Foreign Trade Co. Ltd, the retail complex includes a two-storey, six-storey and seven-storey blocks.

Salcon dispose land for RM20 million

KUALA LUMPUR: Salcon Bhd has disposed a 5,998 sq m piece of leasehold land in Section 14, Petaling Jaya -- on which a four-storey building, a single storey warehouse and a guard house are built -- to The Store Corporation Bhd for a total cash consideration of RM20 million.

Petaling Tin reports 2Q net loss

KUALA LUMPUR: Petaling Tin Bhd posted a net loss of RM551,000 in the second quarter of its financial year ending Oct 31, 2010 (2QFY2010) compared to a net loss of RM1.2 million a year earlier due to the revenue generated from sales of its projects and construction contract works.

General Corp 1Q net profit up 96.5% y-o-y

KUALA LUMPUR: General Corporation Bhd posted a net profit of RM22.6 million for its first quarter result for the financial year ending Jan 31, 2011 (1QFY2011), an increase of 96.5% from RM11.5 million net profit in the same quarter a year ago.

Gula Perak dispose of two parcels of land for RM25.1 million

KUALA LUMPUR: Gula Perak Bhd is proposing to dispose of two land parcels in Batang Berjuntai, Selangor and Setapak, Kuala Lumpur to Perth International Limited, a company incorporated in Hong Kong for a total cash consideration of RM25.1 million.