Latest news

KUALA LUMPUR: Mah Sing Group Bhd has acquired two companies — Capitol Avenue Development Sdn Bhd and Liberty Property Management Sdn Bhd — for a cash consideration of RM2 each respectively.

KUALA LUMPUR: Selangor Properties Bhd (SPB) reported a net profit of RM5 million in the first quarter (1Q) for the financial year ending Oct 31, 2011, compared to RM6.7 million in the preceding year, corresponding with the main contributors from the property development, investment properties and education.

KUALA LUMPUR: TA Global Bhd posted a net profit of RM23.5 million in the fourth quarter (4Q) for the financial year ended Jan 31, 2011 — an increase of 5% compared to RM22.3 million in the same period a year ago due to higher contribution from the hotel division as a result of TA Global's hotel acquisition exercise.

KUALA LUMPUR: Keladi Maju Bhd reported a net profit of RM5.2 million in its fourth quarter (4Q) for the financial year ended Jan 31, 2011 — an increase of 131% compared to RM2.2 million in the same quarter a year ago due to better management of the development cost.

KUALA LUMPUR: Gasing Meridian Sdn Bhd (GMSB), the developer of the Sanctuary Ridge Kuala Lumpur City project, comprising 70 bungalows on a 15.5-hectare site in Bukit Gasing, wants Bukit Gasing residents, who lost their legal action against GMSB, to pay damages.

SINGAPORE: Wendy Cheng, 32, has been trying to buy a home for over two years but without success.

Cheng and her American teacher husband cannot afford property on the open market where a government-built apartment can fetch as much as S$700,000 (RM1.68 million), and they have been unsuccessful in balloting for flats available from the state at a cheaper price.

KUALA LUMPUR: YTL Land & Development Bhd's new condominium development, The Capers at Sentul East, is expected to see some 7,000 interested buyers for its 466 units during the launch this weekend, Mar 26 and 27.

Solid quarter, bright spots ahead

• 1HFY11 net profit was within our expectation but beat street estimates; expect stronger 2H

? No issue. 1HFY07/11 net profit came in at 47% of our full-year forecast and the full-year market consensus. However, we consider the results within expectations as we expect a stronger 2H on the back of continued improvement in construction margins as well as stronger property profits.