KUALA LUMPUR: Kumpulan Europlus Bhd (KEuro) plans to exit as shareholder of Talam Transform Bhd over the next 12 months, said the group’s independent non-executive director Datuk Oh Chong Peng.

“We have a plan to exit Talam since it does not fit into our plans,” he told reporters after KEuro’s annual general meeting yesterday.

KUALA LUMPUR: Sunway Bhd’s net profit for the second quarter ended June 30, 2014 (2QFY14) rose 7.1% to RM182.53 million from RM170.35 million a year ago.

Revenue for the quarter rose 6.6% to RM1.2 billion, from RM1.12 billion a year ago.

The company announced a dividend per share of five sen.

KUALA LUMPUR: Property developer Tropicana Corp Bhd saw its second quarter ended June 30, 2014 net profit come in 133.4% higher at RM89.6 million, but revenue dipped 1.73% to RM355.88 million.

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.