A MASS RAPID TRANSIT (MRT) line always raises the value of nearby properties and since the government announced that Line 2 will run from Sungai Buloh to Putrajaya, real estate executives have gone into overdrive, guessing the alignment as well as where the stations are likely to be located.

KUALA LUMPUR: Guocoland (M) Bhd rose as much as 14%  to a record intraday high in more than six years yesterday, as investors perceived the property developer’s shares as undervalued.

The stock increased 25 sen to RM2.02 in intraday trade, its highest since March 12, 2008, Bloomberg data showed.

KUALA LUMPUR: The Hyderabad City Civil Court has dismissed Tropicana Corp Bhd’s appeal against an order by the Arbitration Tribunal of India to add it as a respondent to a counterclaim by a former joint-venture partner.

KUALA LUMPUR: CME Group Bhd has proposed a joint venture (JV) with two Australian companies to develop two parcels of contiguous freehold land in Western Australia, with an estimated gross development value (GDV) of A$112 million (RM331.42 million).

The companies are Ruark Properties Pty Ltd and Central Park (QLD) Pty Ltd, which are principally involved in property development.

KUALA LUMPUR: Mah Sing Group Bhd, the country’s second-largest property developer by sales value, plans to develop a gated- and-guarded township with a potential gross development value (GDV) of RM7.5 billion on a 960-acre (388.5ha) tract of prime freehold land in Seremban, Negeri Sembilan.

The proposed township will be its biggest project in the south of the Klang Valley.

KUALA LUMPUR: Sunway Real Estate Investment Trust’s (SunREIT) net profit rose 2.7%  to RM235.2 million for the fourth quarter ended June 30 (4QFY14), from RM228.9 million for the previous corresponding period.

Revenue for the April to June period rose 5.1% to RM109.2 million, from RM103.9 million a year ago.

KUALA LUMPUR: Magna Prima Bhd plans to raise RM40 million through an offer of new redeemable convertible preference shares (RCPS) to Lembaga Tabung Angkatan Tentera (LTAT) to fund its property development projects.

KUALA LUMPUR: Berjaya Corp Bhd (BCorp) is disposing of 15 parcels of land totalling 10,726.17 acres (4,047ha) together with a palm oil mill in Selangor to Tagar Properties Sdn Bhd for RM743 million or RM70,000 per acre cash. The proceeds will be used to repay borrowings and as working capital.

KUALA LUMPUR: Bintai Kinden Corp Bhd (BKCB) has clinched subcontracts worth S$68.8 million (RM176 million) from Singaporean firm Greatearth Construction Pte Ltd. One subcontract involves a proposed construction of a 19-storey block at the Lee Kong Chian School of Medicine in Mandalay Road in Singapore. The project is valued at S$44.65 million.