The property market in Penang continues to be buoyant, with both the primary and secondary markets posting stronger sales in 1Q2010 than in 4Q2009.However, Raine & Horne International Zaki + Partners’ director Michael Geh expects a gentler increase in property prices in the next few months considering the rising interest rate environment.

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).

Penang calls for tender to refurbish Crag Hotel The Penang government is calling for tenders from companies interested in the renovation, refurbishment and management of the Crag Hotel on Bukit Bendera (Penang Hill).

From left: Yeow Thit Sang, president of FIABCI Prix d’Excellence
Awards 2010; Yaw, Suharso and Lisa Kurrass, FIABCI World President
2009-10

Art, culture and status are very often intertwined.

The relatively quiet Templer’s Park in Rawang, Selangor, nestled against a backdrop of lush forest in the northern corridor of Kuala Lumpur, will soon see not one but three high-end residential projects.

Along Jalan Berangan in Changkat Bukit Bintang, Kuala Lumpur, is a row of shophouses. If you were to stroll along the undulating road, you would notice a guesthouse near the end of it.

KUALA LUMPUR: Hap Seng Consolidated Bhd (Hap Seng Group) recorded a pre-tax profit of RM172.8 million in its financial year (FY) ended Dec 31, 2009.

This was achieved on the back of group net revenue of RM2.5 billion. The group’s operating profit was registered at RM193.8 million and its profit after tax was recorded at RM149.3 million for the year under review.

KUALA LUMPUR: Kumpulan Jetson Bhd posted higher revenue of RM52.82 million in the 1Q ended March 31, 2010, compared with RM25.09 million in the previous corresponding quarter, representing an increase of 110.52%.

Accordingly, the group’s profit before tax increased to RM1.06 million from a loss before tax of RM765,000 for the respective periods.

KUALA LUMPUR: PJ Development Holdings Bhd’s net profit jumped 41.3% to RM9.105 million in 3Q ended March 31, 2010, from a net loss of RM1.772 million in the same quarter last year.

Revenue increased 7.84% to RM143.816 million from RM133.351 million previously.