KUALA LUMPUR: General Corporation Bhd posted a net profit of RM74.30 million for its second quarter (2Q) ended July 31, 2010, on the back of revenue of RM247.59 million

Comparatively, the company recorded a net profit of RM48.55 million and revenue of RM418.16 million a year ago.

PETALING JAYA: A sum of RM102 million will be allocated for 149 local authorities next year to reactivate and expand the Safe City Programme, which was introduced in 2004.

Housing and Local Government Minister Datuk Chor Chee Heung said since 2004, only 39 of the 149 local authorities participated in the programme.

KUALA LUMPUR: Property developer Eastern & Oriental Bhd (E&O) has set a dividend policy to pay out at least 30% of its after-tax profit as dividends, starting this financial year.

“We are in a position to implement this,” said E&O’s executive director Eric Chan at a press conference after the company’s AGM here yesterday.

KUALA LUMPUR: The commercial property market in the Asia Pacific is improving, although most tenants remain focused on cost-savings, according to Colliers International in its 2010 Asia Pacific Asia Office Tenant Survey.

KELANA JAYA: The second International Conference on World Class Sustainable Cities 2010 (WCSC) to be held in Kuala Lumpur on Oct 19 will focus on the need to enhance connectivity within Kuala Lumpur City.

KUALA LUMPUR: Khor Joo Saik Sdn Bhd (KJS) has appointed CB Richard Ellis (Malaysia) Sdn Bhd (CBRE Malaysia) as the property manager of Menara Binjai.

In a statement issued on Thursday, Sept 30, KJS director Chua Guan-Hock said the company was honoured to be working with the global commercial property services provider.

SEOUL: South Korea's National Pension Service (NPS) said on Thursday, Sept 30, that it was in talks with Pramerica Real Estate Investors to invest as much as US$1 billion (RM 3.08 billion) in an Asian property fund, the latest effort by the world's fourth-largest pension fund to boost investments in overseas real estate assets.

KUALA LUMPUR: Talam Corporation Bhd recorded revenue of RM51.36 million, up 22% from a year ago for its second quarter (2Q) ended July 31, 2010.

Net profit for 2Q 2010 stood at RM410,000, compared with RM200,000 posted a year ago.

KUALA LUMPUR: Fees for the management of strata title residential units are expected to hit RM1.2 billion a year should contentious amendments to a real estate act be passed by Parliament.

TOKYO: Investment management firm Aetos Capital plans to raise US$1 billion (RM3.08 billion) for a fourth real estate fund to buy office buildings and condominiums in Japan and China, a person with direct knowledge of the matter said.