The hospitality industry in the Klang Valley looks set to grow further this year on the back of positive economic growth and a rise in tourism and travel in Malaysia.

Amber Glades asking for S$120 mil in collective saleFreehold development Amber Glades (right) in Singapore has been relaunched for collective sale, with an indicative price of S$120 million. The site, at 30 and 32 Amber Gardens, covers 40,917 sq ft and has a gross plot ratio of 2.8.

The first block of serviced apartments in Azea Properties — a project in the Danga Bay development in Iskandar Malaysia in Johor — saw all 175 units fully booked within a month of the preview. Priced at RM697 psf, the quick take-up of the high-end units seems unusual for the Johor Baru market, but then, so was the marketing strategy.

Do what you know best,” says Ng Chee Hua, managing director of Miramas Group.

Tim Murphy, a prolific property investor and founder and CEO of Hong Kong-based international property investment firm IP Global, thinks property values in Kuala Lumpur are set to rally. The Malaysian capital is one of Murphy’s hot picks for 2011.

Hong Kong’s high-street retail rents have never been cheap and this has been especially true in the past few months, during which rents have risen steadily higher.
And though landlords have been very aggressive in raising prices, there has been no shortage of retailers (mainly luxury or international retail giants) bidding for the same location.

Australand posts net profit of A$165.8 milAustraland Property Group posted a net profit of A$165.8 million in FY2010, reversing the red ink of A$298.2 million in FY2009. The net profit includes an investment property revaluation gain of A$38.9 million. Distribution per security was 20.5 cents. Revenue in the same year to Dec 31, 2010, was up 9% to A$749.3 million.

KUALA LUMPUR: Malaysia Pacific Corporation Bhd recorded a 2Q net loss of RM4.745 million, compared to a net loss of RM3.258 million a year ago in its financial statement ended Dec 31, 2010, it announced on Friday, Feb 18.

Revenue earned dropped by 17.4% to RM2.424 million from RM2.935 million the previous year.

KUALA LUMPUR: Mudajaya Group Bhd achieved a net profit increase of 39% to RM57.091 million from RM41.054 million a year ago, it stated in its fourth quarter (4Q) financial statements ended Dec 31, 2010 released on Friday, Feb 18.

Revenue collected for 4Q rose 8.75% to RM230.295 million from RM211.763 million last year.

HONG KONG: The CFA Institute, the global association of investment professionals, proposes change to the management of Asia-Pacific REITs to protect investors' interest in its Asia-Pacific REITs: Building Trust Though Better REIT Governance report release from its Hong Kong office on Friday Feb 18.