KUALA LUMPUR: Axis Real Estate Investment Trust (Axis-REIT) proposed to acquire the Tesco JB Hypermarket Complex for a total lump sum cash consideration of RM75.6 million from Bukit Indah (Johor) Sdn Bhd.

The latest acquisition will increase the assets under management to over RM1.2 billion, Axis-REIT said in a filing to Bursa Malaysia on Tuesday, Aug 24.

KUALA LUMPUR: MMC Corp Bhd posted profit of RM187.17 million for the second quarter ended June 30, 2010, which was 25.3% higher compared with RM149.35 million a year ago.

KUALA LUMPUR: SHL Consolidated Bhd posted a pre-tax profit of RM9.60 million for its first quarter (1Q), ended June 30, 2010, up 8% from RM8.58 million posted in same period last year, on the back of RM67.07 million revenue.

KUALA LUMPUR: Department stores are expected to lead Tianjin’s retail property market over the next 12 months with retailers, especially international brands, looking to strengthen their initial presence in the local market, said global real estate consultancy Colliers International.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) recorded revenue of RM363.5 million for the cumulative second quarter (2Q) ended June 30, 2010, a slight drop compared with RM382.8 million revenue recorded in the same quarter last year.

KUALA LUMPUR: Sunway Holdings Bhd posted a pre-tax profit of RM59.2 million for its second quarter (2Q) ended June 30, 2010 on the back of a revenue of RM509.2 million.

The pre-tax profit for 2Q 2010 grew by 17% from RM50.4 million in the preceding quarter, while a pre-tax profit of RM109.6 million was recorded during the six-month period under review.

KUALA LUMPUR: Build Eco Xpo (BEX) Asia 2010, which will take place from Sept 13 - 15 in Singapore, is expected to attract over 7,000 visitors this year.

The upcoming third BEX event will feature 200 companies from over 20 countries showcasing their latest environmentally friendly building technologies, products, concepts and solutions, it said in a statement on August 12.

KUALA LUMPUR: Australia-based StayWell Hospitality Group will operate a four-star hotel at integrated development Taragon Puteri KL, located next to Berjaya Times Square on Jalan Imbi, Kuala Lumpur.

The Park Regis KL is expected to begin operations in January 2011. Apart from the hotel, Taragon Puteri KL will also feature serviced residences and limited retail lots.

KUALA LUMPUR: IOI Corporation Bhd posted a pre-tax profit of RM2.55 billion for its financial year ended June 30, 2010 (FYE 2010), up 65% from RM1.55 billion recorded in the previous year.

LANGKAWI: Various quarters, including residents in Langkawi, are against the proposed bridge between the island and Kuala Perlis.

They agree with former prime minister Tun Mahathir Mohamed that the project can erode the island's unique features as a tourist destination.