KUALA LUMPUR: An Australian-owned design company, Kerry Phelan Design Office (KPDO), unveiled and launched the newly renovated Tung Fat Building in Kennedy Town, Hong Kong, on Nov 3. The project is KPDO’s first in Hong Kong.

KUALA LUMPUR: I-Bhd’s net profit for the third quarter ended September of financial year 2014 (3QFY14) jumped to RM14.23 million, a big leap from RM2.68 million in 3QFY13 due to higher recognition from project completion and sales.

KUALA LUMPUR: Residential properties are exempt rated but the net impact from the implementation of the goods and services tax (GST) will cause their prices to rise 3% to 4% after the consumption tax comes into play next April, said Mah Sing Group Bhd executive director Datuk Steven Ng Poh Seng.

KUALA LUMPUR: The Nomad Group Bhd wants to hive off six assets to a Hong Kong-incorporated management service firm for £4.25 million (RM22.3 million) cash, which is about half or 47.3% less than the RM42.3 million initial investment the group forked out for the properties between 2007 and 2014.

GEORGE TOWN: The iconic 109-year-old Royal Bank of Scotland (RBS) building within the island’s banking district is going up for sale via tender for a month beginning on Monday. Property consultancy firm CB Richard Ellis (Malaysia), or CBRE Malaysia, believes it will draw bidders from around the world.

KUALA LUMPUR: The Urban Wellbeing, Housing and Local Government Ministry came under fire yesterday for awarding two incinerator projects worth RM88.74 million to a small, relatively unknown contractor, which had earlier experienced two failed pilot projects.

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) will put in the final submission for its bid for the RM800 million waste-to-energy incinerator project in Taman Beringin, Kepong, after passing the pre-qualifying stage, said group chief operating officer Mohd Imran Mohamad Salim (pic).

GEORGE TOWN: If debt-saddled 1Malaysia Development Bhd (1MDB) is looking to turn its fate around by building luxury properties on its vast 234-acre (98ha) “prime site” land bank in Air Itam here, then it better start looking elsewhere.

KUALA LUMPUR: Tadmax Resources Bhd has yet to complete the RM317.3 million land sale to 1Malaysia Development Bhd’s (1MDB) unit Ivory Merge Sdn Bhd.

In a filing with Bursa Malaysia yesterday, Tadmax said it is currently in discussion with Ivory Merge on the completion of the share sale agreement.

KUALA LUMPUR: IOI Properties Group Bhd plans to undertake a renounceable rights issue of 539.94 million new shares to raise up to RM1.025 billion, mainly for its investment properties at IOI Resort City in Putrajaya.