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.

HONG KONG: The government has been urged to review its town planning policy after a property consultancy found nearly 40 per cent of plots in Kowloon Tong - primarily zoned for residential use - have been used for educational or commercial purposes.

HONG KONG: Landlords of street-level shops in Hong Kong are demanding big rent increases as leases come up for renewal, forcing tenants to quit in search of cheaper premises.

The rolling rent rises have extended from primary to secondary locations, despite a market outlook that remains clouded by global economic uncertainty.