KUALA LUMPUR (Nov 24): WCT Holdings Bhd's net profit dropped 37% to RM25.8 million in the third quarter ended Sept 30, 2014 (3QFY14), from RM41.3 million a year earlier, translating to a decline in its earnings per share to 2.37 sen from 3.78 sen per share.

The group's revenue, however, improved by 13% to RM471.1 million in 3QFY14 from RM418.5 million in 3QFY13.

KUALA LUMPUR (Nov 24): Stationery manufacturer Pelikan International Corp Bhd registered a 19% drop in its net profit for the third quarter ended Sept 30, 2014 (3QFY14), to RM3.49 million or 65 sen per share from RM4.32 million or 85 sen per share on declining sales of certain wholesale and printer-consumable customers.
 

KUALA LUMPUR: Melbourne developers Kangoala Pty Ltd and Property Development Analysis Australia recently showcased their project, Queens Domain, in Kuala Lumpur last weekend. It is marketed by Knight Frank Malaysia.

KUALA LUMPUR: NCT Group of Companies launched the third and final phase of its RM1 billion Ion Delemen development  in Genting Highlands last month.

The project with a gross development value of RM380 million consists of Tower 4 and Tower 7. The latter is up for sale, while Tower 4’s pricing is being finalised.

BOSTON: US-based Millennium Partners is developing the Millennium Tower Boston, located northeast from New York. The 60-storey skyscraper is designed by Blake Middleton of Handel Architects. The US$630 million (RM2.1 billion) building will comprise 422 high-end residential units, said Richard Baumert, partner at Millennium Partners, in a press release recently.  

KUALA LUMPUR: The Construction Industry Development Board (CIDB) plans to make the Quality Assessment System in Construction (Qlassic) mandatory for all construction projects in the country by 2020, said CIDB senior general manager (development sector) Ahmad Asri Abdul Hamid at a media workshop on Qlassic on Nov 10.

KUALA LUMPUR: Builder and property developer Malton Bhd, controlled by billionaire Datuk Desmond Lim Siew Choon, has lined up three new property launches with a total gross development value (GDV) of up to RM1.2 billion for the financial year ending June 30, 2015 (FY15), said its director of corporate finance Ng Chee Kiet.

KUALA LUMPUR: Eco World Development Group Bhd achieved sales of RM3.186 billion for its financial year ended Oct 31, 2014, surpassing its RM2 billion target.This financial year has a period of 13 months due to the change in its year end from Sept 30 to Oct 31.

KUALA LUMPUR: Mah Sing Group Bhd is making a cash call to raise up to RM630 million, which is the second rights issue for the property developer in less than two years.

LONDON: Credit rating agency Standard and Poor’s said on Wednesday that China’s over-priced and over-supplied property market and capital-starved Russian banks were likely to face further downgrades in the coming years.