KUALA LUMPUR: Unfazed by slowdown jitters, Penang-based property player Tambun Indah Land Bhd saw a 115.7% surge in net profit to RM25.3 million in the first quarter ended March 31 of financial year 2014 (1QFY14), from RM11.7 million a year ago.

KUALA LUMPUR: The loss-making ferry service linking Penang island to Butterworth is expected to be a major focus of the new owner of Penang Port Sdn Bhd (PPSB), the company operating the port and ferry, as it has previously been a stumbling block to its initial public offering.

SHAH ALAM: The corporate exercises that Eco World Development Group Bhd proposed last week could potentially propel the company into the league of top 10 developers in the country in terms of market capitalisation.

PETALING JAYA: Property developer Tropicana Corp Bhd has appointed Tan Sri Rastam Mohd Isa (pic) as its new chairman effective April 25, replacing Datuk Rohana Mahmood, the previous independent non-executive chairman of Tropicana.

KUALA LUMPUR: Horizon Outlet Shoppes Sdn Bhd has agreed to purchase 16.19ha of land in Salak Tinggi, Sepang, Selangor, from Sime Darby Property Bhd to build the Kuala Lumpur International Outlets (KLIO). Horizon Outlet Shoppes is a joint venture between US-based Horizon Group Properties and Mainstay Holdings Sdn Bhd, a local property and construction firm.

FOR nearly seven years, the abandoned Platinum Damansara project sat grim and grey, an eyesore in Ara Damansara, Selangor. The project has been given a new lease of life with Newfields Property Management Sdn Bhd stepping in to revive it.

NEW ideas and youthful enthusiasm are expected to be infused into property developer Mutiara Johan Group’s operations with the sons of its founders coming on board.

INDIA: India’s information technology capital, Bangalore, has now topped the country’s luxury home market spurred by the consistent job creation.According to Om Ahuja, Jones Lang LaSalle India’s chief executive officer of residential services, one of the major factors driving real estate in Bangalore is the consistency of job creation, which surpasses all other Indian cities.