KUALA LUMPUR: Australia-based Lend Lease and 1MDB Real Estate Sdn Bhd (1MDB RE) — a unit of 1Malaysia Development Bhd — have signed a binding agreement to work exclusively together to finalise the joint-venture documentation and commence work on the Tun Razak Exchange (TRX) Lifestyle Quarter.

SEPANG: Tune Hotels Group plans to invest about US$25 million in its new hotel in Kenya, said group chief executive officer Mark Lankester.

KUALA LUMPUR: Berjaya Land Bhd’s pre-tax profit for the financial year ended April 30, 2014 rose to RM518.02 million compared with RM461.39 million in the same period last year.

The performance was driven by higher profit contribution from the hotels and resorts as well as property development and investment businesses.

KUALA LUMPUR: Shareholders of Benalec Holdings Bhd have approved of a framework to settle all legal suits, grievances, disputes and claims between the company and its three former directors — Datuk Leaw Tua Choon, Datuk Leaw Ah Chye and Tua Choon’s son, Leaw Yongene.

Titijaya Land Bhd
(June , RM2.43)

KUALA LUMPUR: Grand-Flo Bhd plans to expand its property portfolio via Vortex Business Park, a mixed development in Batu Kawan, Penang with a gross development value (GDV) of RM220 million.

KUALA LUMPUR: Aeon Co (M) Bhd, the Malaysian unit of Japan’s largest retailer, is diversifying into furniture and electronics stores as competition from new shopping malls intensifies. The stock rose to a one-year high yesterday.

KUALA LUMPUR: Fajarbaru Builder Group Bhd, which was involved in the construction of the old low-cost carrier terminal (LCCT) in Sepang, is keen to bid for the project to convert the former terminal into a cargo complex once the tender is opened.

KUALA LUMPUR: Protasco Bhd expects contribution from its construction and property development segments to increase by 10% to 20% respectively of the group’s revenue this year, said its executive vice-chairman and group managing director Datuk Seri Chong Ket Pen.

KUALA LUMPUR: UDA Holdings Bhd expects the Bukit Bintang City Centre (BBCC) project, with a gross development value (GDV) of up to RM10 billion, to have 50% participation by bumiputera contractors.