Mah Sing to preview Star Avenue@D'sara, Sungai Buloh
KUALA LUMPUR: Mah Sing Group Bhd is set to preview Phase 1 of its latest commercial project called Star Avenue@D'sara on Nov 20 and 21, 2010 the Group stated in a press statement on Nov 16, 2010.
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Bandar Raya Developments posts lower pre-tax profit in 3Q
KUALA LUMPUR: Bandar Raya Developments Bhd has posted a lower pre-tax profit of RM3 million in its third quarter (3Q) ended Sept 30, 2010, compared to RM59.3 million in the same period last year.
Revenue declined by 52 per cent to RM127.5 million from RM267.4 million previously, the company said in a filing to Bursa Malaysia on Tuesday, Nov 16.
Paramount 3Q net profit up 32% to RM21.6m on higher profit margins, new project
KUALA LUMPUR: Paramount Corporation Bhd saw its net profit rise by 32% to RM21.6 million for the third quarter (3Q) ended Sept 30, 2010 from RM16.27 million a year ago, on the back of higher profit margins and contribution from a new development, it said in a filing to Bursa Malaysia.
Sime Darby seeks legal action for cost overruns
KUALA LUMPUR: Sime Darby Bhd will take legal action against certain individuals found culpable over the severe losses suffered by its energies and utilities division totaling RM2.08 billion, said its chairman Tun Musa Hitam.
In a statement on Bursa Malaysia, he said the group was engaging the services of a senior counsel who is in the midst of preparing civil actions to be filed.
British Land flags London City asset sales
LONDON: London landlord British Land intends to sell assets in the City financial district as it takes a more trading-focused investment strategy, adding an uptick in its exposure to prime offices may not last long.
Faber Group records 52.6% higher net profit of RM29m for 3Q
KUALA LUMPUR: Faber Group Bhd posted a 52.6% higher net profit of RM29 million for its third quarter (3Q) ended Sept 30, 2010 from RM19 million a year ago, underpinned by higher revenue.
Schlumberger Financial Hub opens in 1 First Avenue, Bandar Utama
KUALA LUMPUR: Schlumberger Limited, one of the world's leading oilfield services companies, has opened its financial hub and regional headquarters at 1 First Avenue in Bandar Utama, a Grade A green-rated office building.
Four detained after Shanghai apartment fire kills 53
SHANGHAI: Chinese police held four suspects on Tuesday, Nov 16 after a Shanghai apartment fire that killed at least 53 people was blamed on unlicensed welding, official media said.
The fire, which gutted a 28-storey high-rise in China's busy commercial hub, was sparked by "unlicensed welding carried out contrary to rules", Xinhua news agency said, without citing a source.
World Expo site earmarked as prime development land
KUALA LUMPUR: The World Expo site in Shanghai, spanning 56.8 million sq ft, is expected to become a construction highlight and will drive the city's future development, according to the China Daily on Tuesday, Nov 16.
The recently concluded Expo has experienced upgraded infrastructure, outdoor decoration and massive greening due to the huge event.
CCB chairman says has not heard of developer lending halt
BEIJING: China Construction Bank Corp (CCB) chairman Guo Shuqing said on Tuesday, Nov 16 that he has not heard of any lending halt to property developers by banks.
He made his comments at a Beijing forum amid a recent series of media reports that banks had halted or slowed lending to property developers, as Beijing sought to cool the overheated real estate market.
