KUALA LUMPUR: Ireka Corp Bhd posted profit before tax of RM8.16 million for FY2009, compared with RM2.826 in the previous financial year.

According to the group’s statement to Bursa Malaysia on Feb 25, the lower prices for steel bars and other construction materials contributed to better profit margins for current construction projects.

KUALA LUMPUR: Hock Seng Lee Bhd (HSL Group) posted a 21% increase in revenue for FY2009, compared with RM309.07 million in the previous financial year. The group’s net profit before tax for FY2009 was RM75.57 million, or a 35% increase from RM54.46 million in FY2008.

KUALA LUMPUR: Sime Darby Bhd reported RM1.765 billion in pre-tax profit for the first half of financial year ended Dec 31, 2009, up 7% from RM1.648 billion in the same period in 2008.

Turnover rose to RM16.169 billion from RM16 billion in the previous financial year.

KUALA LUMPUR: Boustead Holdings Bhd reported a pre-tax profit of RM501.65 million for the year ended Dec 31, 2009, down 26.1% from RM678.90 million the previous year.

Revenue declined to RM5.39 billion against RM7.029 billion in 2008, the company said in a filing to Bursa Malaysia on Feb 25.

HONG KONG: The mainland property market is so vast that it offers thousands of Hong Kong people the opportunity to make their dream careers possible, as Lawrence Tong, graphic designer-turned-feng shui consultant in Shanghai, testifies.

PETALING JAYA: Selangor’s first technopreneur campus will be set up in i-City, Shah Alam as part of the state government’s efforts to transform Selangor’s economy into a knowledge-economy (K-economy).

KUALA LUMPUR: Citta (pictured), a new strip mall near Ara Damansara is expected to open for business in 4Q2010 with approximately 70% occupancy, Allan Soo, managing director of CB Richard Ellis (CBRE) Malaysia told theedgeproperty.com. CBRE is the retail consultant for Citta.

Naim’s FY09 earnings of RM78.7 million (-2.5% y-o-y) were within our expectation (+1.7%) although the lower q-o-q profits were due to weaker contributions from Dayang. We continue to see increasing jobs in Sarawak, fuelled by the state elections expected to be held next year, much to Naim’s benefit. We retain our earnings estimates and RM4.12 TP.

WASHINGTON: Sales of new homes in the US probably rose in January as an extension of a first-time homebuyers’ tax credit spurred demand from a nine-month low, economists said before a report on Feb 24.

SAN FRANCISCO: The default rate for commercial property mortgages held by US banks more than doubled in the fourth quarter and may reach a peak of 5.4% at the end of next year, according to Real Capital Analytics Inc.