KUALA LUMPUR: Megasteel Sdn Bhd says it is disappointed the Ministry of International Trade and Industry (Miti) has decided against implementing the 35% safeguard duty on the import of hot-rolled coil (HRC) the steel giant had petitioned for in June.

KUALA LUMPUR: Property developer Dijaya Corp Bhd’s net profit for 1H11 of RM41.14 million was five times the RM7.61 million booked the previous year, helped by better margins recognised for projects this year as well as a RM20.51 million net gain on fair value adjustment arising from marketable securities.

KUALA LUMPUR: Selangor Dredging Bhd (SDB) has in its pipeline property launches worth almost RM1 billion in gross development value (GDV) in Malaysia and Singapore by the end of 2012. The group expects contribution from Singapore to be at par with Malaysia’s in two years, said group managing director Teh Lip Kim.

KUALA LUMPUR: Sarawak-based construction outfit Hock Seng Lee Bhd (HSL) saw its net profit for 2QFY11 ended June 30 rose 16% to RM20.89 million from RM17.98 million a year earlier, due mainly to the aggressive rollout of the Sarawak Corridor of Renewable Energy (Score) projects.

KUALA LUMPUR: YTL Corp Bhd’s net profit for FY11 ended June 30 rose 23.6% from a year ago to RM1.05 billion, while revenue expanded 12.5% to RM18.5 billion.

The full-year performance was lifted by strong 4Q results, with net profit tripled from a year ago to RM304 million on currency translation gains.

KUCHING (Sarawak): Sarawak will recommend to the federal government to turn longhouses into a national housing scheme.
A pilot project under the state Housing and Urban Development Ministry is currently underway in Bakong, Sri Aman division, its minister Datuk Amar Abang Johari Tun Openg said.

SINGAPORE: Invest KL is set to attract Singapore-based multinational companies (MNCs) and the republic's firms to the Greater Kuala Lumpur/Klang Valley region.

KUALA LUMPUR: United Malayan Land Bhd (UM Land) will launch its high-end serviced apartment and retail properties in Puteri Harbour in Nusajaya, Johor by October.

HONG KONG: This year, a businessman in Beijing used a brand new, custom-designed app on his iPad to take a virtual tour of a luxury flat in Miami to check out the views and get a sense of the neighbourhood. He bought without getting on a plane.

HONG KONG: Home sales in the Hong Kong secondary market rebounded last week as owners cut asking prices in reaction to volatility on stock markets triggered by fears of global recession.

In all, 229 transactions were recorded in 50 major estates for the week of August 15 to 21, up 18 per cent from the previous week, according to data from Ricacorp Properties.