KUALA LUMPUR: IGB Corporation Bhd entered into a Heads of Agreement (HOA) with its 75%-owned subsidiary KrisAssets Holdings Bhd for the disposal of 100,000 ordinary shares at RM1.00 each, representing the entire issued and paid-up ordinary share capital in Mid Valley City Gardens Sdn Bhd (MVCG) to KrisAssets for a cash consideration yet to be determined, it announced on Monday, Feb 14.

KUALA LUMPUR: IGB Corporation Bhd achieved an increase in net profit by 70.5% to RM53.09 million compared to RM31.13 million a year ago, the group revealed in its 4Q2010 financial statements released on Monday, Feb 14.

The group's revenue increased by 29.2% to RM214.9 million from RM166.3 million the previous year.

MRT Open Day Highlights

• We attended the MRT open day which was held in Mid Valley Convention Centre by Suruhanjaya Pengangkutan Awam Darat (SPAD). The open day was held to disseminate
more information on the MRT project and also to gather the public’s feedback on it.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd (Prasarana) is firming up its plans to develop property projects along the mass rail transit (MRT) alignments which would allow the government to directly benefit from the expected surge in property value. Prasarana is a government-owned company which owns assets and provides public transport services in the country.

KUALA LUMPUR: The 9% devaluation of the Vietnamese dong last Friday may have caused a knee-jerk reaction in the market after it slid to record lows against the US dollar, but some Malaysian companies that have significant investments in the country are still positive on its prospects.

The Ho Chi Minh Stock Exchange ended trade 0.05% lower last Friday to close at 519.98 points.

SINGAPORE: Singapore is Asia's greenest city, while Kuala Lumpur scored an overall average rank in The Asian Green City Index.

The index — a study commissioned by Siemens AG and performed by the independent Economist Intelligence Unit (EIU) — analysed the environmental sustainability of 22 major cities in Asia.

KUALA TERENGGANU: A seven-storey hotel costing RM37.4 million slated for completion in October will help ease room shortage here and boost Terengganu's tourism industry, says State Islamic Religious and Malay Customs Council (Maidam) executive officer Wan Harujan Sulaiman.

MELBOURNE: Leighton Holdings , Australia's top contractor, is reviewing its near 50% stake in residential developer Devine as part of a broader review of its investments, new chief executive David Stewart said on Monday, Feb 14.

"We're looking at our property plays entirely," Stewart told reporters, after the group reported a 25% slide in first-half profit. — Reuters

BHL Group of Companies may be a new name in the property development business but the company has already made a name for itself as the contractor of a few projects, mainly in the Klang Valley.
With executive chairman Datuk Lim Boo Kian at its helm, BHL’s new goal is to make its presence felt in the property development sector.

Challenging times for CIDB