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Crowne Plaza debuts in inner-city Bangkok

BANGKOK: Crowne Plaza Hotels & Resorts is making its brand debut in Bangkok, in the heart of the city's central business district.

The 241-room Crowne Plaza Bangkok Lumpini Park is located on the 21st to 32nd floors of the Ramaland complex in the Silom-Rama IV district and provides a panorama of sweeping views across the entire city.

UOA REIT to sell unit in Wisma UOA II

KUALA LUMPUR: In line with its objective of maximising total returns to unitholders, UOA Asset Management Sdn Bhd — the manager of UOA Real Estate Investment Trust (REIT) — is selling an office suite in Wisma UOA II in Jalan Pinang for RM681,840.

The manager entered into a sales and purchase agreement with buyers Chong Lee Ching and Chin Wui Leong on Dec 20, it said on the same day.

BLand posts net profit of RM43.68m

KUALA LUMPUR: Berjaya Land Bhd (BLand) posted a net profit of RM 43.68 million for its second quarter (2Q) ended Oct 31, 2010, compared to RM 65.72 posted year ago.

Revenue increased to RM1.02 billion in the current quarter from RM983.1 million a year ago.

Harmony Residence 70% sold before launch

KUALA LUMPUR: Harmony Residence in Penang has already achieved a take-up rate of 70%, said Boon Siew Group's property division executive director Alfred Chew.

The condo project — developed by Boon Siew Group via its unit Taman Sri Bunga Sdn Bhd — is currently under construction on an acre of freehold land at Tanjung Bungah, Penang.

Gamuda-MMC have a strong chance of bagging MRT tunneling works

KUALA LUMPUR: The Gamuda-MMC partnership stands a strong chance of bagging the tunneling works worth RM14 billion for the whole KL Mass Rapid Transit (MRT) project, as Gamuda is probably the only local contractor qualified for the task.

OSK Research said in its research report that Gamuda's track record includes the SMART Tunnel, Penchala Tunnel and Kaohsiung MRT.

China again taps brakes on soaring land prices

BEIJING: Beijing has again told local authorities to step up efforts to curb excessive land price increases that have contributed to higher housing prices.

The Ministry of Land and Resource has told local governments to "pay a close attention to real estate market movements and to firmly implement regulatory and control measures" as a way to cool down heated bidding for land.

IJM Corp (OSK Research) maintain neutral; target price RM6.60

IJM Corporation
On a Winning Spree

Last Friday, IJM announced that it had won a RM461m contract for Phase 3 of the Platinum Park development by Naza TTDI. Its job wins so far into FY11, totaling RM1.84bn, have beaten our RM1.5bn target. Potential jobs in the pipeline include high-rise buildings in KL, Kelau Dam, West Coast Expressway and LRT packages.