KUALA LUMPUR: Seloga Holdings Bhd reported a net profit of RM5.9 million for the fourth quarter (4Q) of its financial year ended Dec 31, 2010, an increase of 296% from RM1.49 million in the same quarter a year ago, due to the sales of the company's developmental rights over a parcel of land under the joint-venture agreement with UEM Land Bhd.

KUALA LUMPUR: IRIS Corporation Bhd has signed a joint-venture (JV) agreement with Koto Malaysia Sdn Bhd and Ambitech Sdn Bhd for the development, manufacture and construction of Koto's Industrialised Building System (IBS).

KUALA LUMPUR: Ireka Corporation Bhd's wholly-owned subsidiary Ireka Engineering and Construction Vietnam Co Ltd has been awarded a contract by Vietnam-based Hoa Lam-Shangri-La Healthcare LLC for a construction job worth RM27.58 million.

KOTA BHARU: Consumers in more than 10 areas in and around Kota Bharu are expected to experience water disruption on Saturday, Feb 12.

Air Kelantan Sdn Bhd (AKSB) Consumer affairs executive Hazwan Hassan said expected water disruption was to facilitate electrical works carried by Tenaga Nasional Bhd at the Kampung Puteh treatment plant.

KUALA LUMPUR: On the face of it, Naim Holdings Bhd, which was listed in April 2008, is possibly one of the most well-covered Sarawak-based companies on the stock exchange today.

The company, primarily involved in construction and property development, is 23.4% owned by Abdul Hamed Sepawi, who in turn is closely linked to Sarawak's chief minister Tan Sri Abdul Taib Mahmud.

KUALA LUMPUR: Hock Seng Lee Bhd (HSL), East Malaysia's largest construction firm by market capitalisation, expects this year to be at least as good as 2010 on potential jobs within the Sarawak Corridor of Renewable Energy (Score).

HONG KONG: Home prices in Hong Kong resumed their upward course last month after a dip in December, rising an average of 2.1% month-on-month.

The average home cost 19.6% more than a year earlier.

HONG KONG: For the first time, prices of four major housing estates last month surpassed their 1997 highs as property prices showed little sign of easing, but sales of new homes dropped to the lowest in two years.

BEIJING: Bank of China Ltd and four other major state lenders will end preferential mortgage rates for first-time homebuyers in the southern boomtown of Shenzhen after the Lunar New Year holiday, a local newspaper said.

KUALA LUMPUR: Tujuan Gemilang Sdn Bhd — the developer of PJ Trade Centre (PJTC) in Damansara Perdana, Petaling Jaya — is looking to sell Point92, its latest office building project en-bloc.

Located near PJTC, the leasehold 0.92-acre leasehold project with an indicative gross development value (GDV) of RM95 million is expected to be completed by June 2012.