KUALA LUMPUR: Rapid Synergy Bhd has bought 2.04 million shares in hotel chain Shangri-La Hotels (M) Bhd for RM14.65 million cash.

In a filing with Bursa Malaysia yesterday, Rapid Synergy said the investment represents a 0.46% stake in Shangri-La, based on the group’s total share capital of 440 million shares.

KUALA LUMPUR: Mah Sing Group Bhd said it has discovered that a caveat has been lodged on the piece of freehold land measuring 1,051 acres (425ha) in Mukim Rantau, Seremban that the group is in the process of acquiring for RM359.557 million in cash.

KUALA LUMPUR: Datuk Dr Yu Kuan Chon, the controlling shareholder of YNH Property Bhd, continues to mop up shares in the property firm, having bought an additional 1.472 million shares or  a 0.36% stake, through the off-market transaction yesterday.

KUALA LUMPUR: Property developer UEM Sunrise Bhd slashed its full-year sales target to RM2 billion from RM3.2 billion as the group’s financial results faltered in the second quarter ended June 30, 2014.

Its net profit dropped 30.6% year-on-year (y-o-y) to RM74.5 million from RM107.3 million, a filing with Bursa Malaysia yesterday showed.

KUALA LUMPUR: Ho Hup Construction Company Bhd’s net profit for the second quarter ended June 30, 2014 (2QFY14) rose 164% to RM17.04 million from RM6.45 million in the previous corresponding quarter.

Revenue jumped 431.6% to RM88.5 million from RM16.65 million previously.

KUALA LUMPUR: IOI Properties Group Bhd reported a net profit of RM413.05 million, or 12.75 sen per share, boosted by a fair value gain of RM305.3 million on investment properties for the fourth quarter ended June 30, 2014 (4Q14). Revenue came in at RM417.17 million in the quarter.

KUALA LUMPUR: Shareholders of IJM Land Bhd will be able to participate in the property firm on a larger scale after the proposed privatisation by its parent company, IJM Corp Bhd, said IJM Land managing director and chief executive officer (CEO) Datuk Soam Heng Choon.

THE primary market for real estate was healthy when various incentives, such as the developer interest bearing scheme (DIBS), were available. However, after the abolition of DIBS and the tightening of housing loans, people have been holding back on purchasing new homes, say property consultants.

AS house prices continue to rise steadily, looking for affordable homes not too far from the city centre, with amenities close by, has become a tall order.

But at the 60-acre green township Ken Rimba in Shah Alam, developer Ken Holdings Bhd is introducing a condominium project that is not only affordable but also eco-friendly.

GEORGE TOWN: Asian Global Business Sdn Bhd’s (AGB) Rice Miller Hotel & Godowns, and The Rice Miller City Residences will be ready within the first quarter of 2015 (1Q15).