KUALA LUMPUR (Aug 6): Sunway Real Estate Investment Trust recorded a net profit of RM229 million for its fourth quarter ended June 30, a drop of about 18% from the net profit of RM278.3 million posted in the previous corresponding quarter.

This was on the back of RM103.9 million in revenue compared with RM102.6 million in at the same time last year.

SINGAPORE: Singapore property and hotel firm City Developments Ltd posted a 48% rise in second quarter (2Q) net profit yesterday after gains from asset sales offset lower contributions from hotels.

CityDev earned S$203.8 million (RM520.7 million) in the three months ended June, up from S$137.7 million a year ago.

KUALA LUMPUR: A cap on the 7% to 10% discount for bumiputera house buyers is a controversial but much-needed initiative to address spiralling house prices.

The National House Buyers Association (HBA) said the powers-that-be would have to just bite the bullet and explore such reforms if it were sincere in providing affordable housing to all.

KUALA LUMPUR: The KL-Kuala Selangor Expressway, also known as the Latar Expressway, linking Kuala Lumpur with Ijok in Kuala Selangor, will see an increase of 10,000 users daily, with the completion of an interchange linking it to Bandar Tasik Puteri in Rawang by 2015.

KUALA LUMPUR: Kajang-based developer MKH Bhd has acquired a 100% stake in Puncak Alam Resources Sdn Bhd (PARSB) from the family of Tan Sri Rozali Ismail for RM30.6 million.

BLAZING a trail is never easy but Sheila Sriprakash has been able to overcome the obstacles in her way and do just that with verve and determination.She was in town last month as a keynote speaker at the Kuala Lumpur Design Forum 2013. Born in Bhopal, India, the architect recalls a wonderful childhood when she became proficient in dance and music.

EUPE Corp Bhd may not be a familiar name to many of us. However, the Kedah-based developer has been around for more than 25 years.

When Julia Chang, a 48-year-old Taiwanese who divides her time between Taiwan and Tokyo, decided to diversify her family’s overseas investments, she settled on real estate in the Japanese capital where prices have slumped for two decades.

JOHOR BARU: Phase 1 construction of the RM9 billion Pengerang independent deep water petroleum terminal is progressing well and is scheduled for commissioning in the second quarter (2Q) of next year.

Mohd Yazid Jaafar, CEO of Johor Petroleum Development Corp, said construction is 65% complete.

GEORGE TOWN: The Penang Development Corp (PDC) has announced a Request For Proposal (RFP) to build an international theme park which could be worth more than RM100 million.

General manager Datuk Rosli Jaafar said PDC has identified two sites in Bandar Cassia in Batu Kawan for the theme park and a golf resort.