KUALA LUMPUR: Mah Sing Group Bhd recorded a 20.9% rise in net profit to RM84.03 million in the first quarter ended March 31 of financial year 2014 (1QFY14) from RM69.47 million a year ago, in line with market expectations. Revenue grew 51.8% to RM642.2 million from RM423.1 million in 1QFY13.

Mah Sing chalked up RM770 million in new property sales as at March 31 this year.

KUALA LUMPUR: When Datuk Terry Tham sold down his stake in Eastern & Oriental (E&O) Bhd to 5.1% in 2011, he agreed to stay on as managing director for at least three years.

Come August, the three years will be up and the question being asked is whether he will stay on or retire.

KUALA LUMPUR: Felda Investment Corp Sdn Bhd (FIC), a wholly-owned unit of the Federal Land Development Authority (Felda), intends to take Encorp Bhd private through a mandatory general offer of RM1.55 per share.

FIC has also offered to buy the company’s warrants and redeemable convertible secured loan stocks (RCSLS) it does not own at 55 sen and RM1.55 each respectively.

MEDINI: Sunway Bhd plans to launch Citrine, the first phase of its Sunway Iskandar flagship development in Johor at end-June or early July, said its joint managing director of property development Sarena Cheah.“We will have a private preview first [in the next two to three weeks] before we launch it,” she said during a familiarisation tour for the media yesterday.While declining to reveal the p

LONDON: Only 6% of house builders believe that the government’s key target of 200,000 homes to be built every year is deliverable, according to the latest Knight Frank Housebuilding Report 2014 — Building Momentum.The majority of house builders believe that construction of new homes is expected to rise next year by more than 10%, with more than a quarter expecting an uplift of more than 25% in

PETALING JAYA: The newly redeveloped Jaya Shopping Centre was officially launched on Monday. The 11-level shopping centre has a net lettable area of 270,000 sq ft with a development cost of about RM400 million.

GEORGE TOWN: Affordable housing, widely sought after by the growing middle-income group, has led local developer Aspen Group to launch the first affordable development project to cater to this community.

KUALA LUMPUR: Property developer UOA Development Bhd is looking to roll out two projects, one in Old Klang Road and the other in Sentul over the next few months.

UOA Development general manager Eugene Lee said the gross development value (GDV) of the two projects totals RM840 million and is expected to contribute to the company’s sales for financial year 2014 (FY14).