MK Land clinches RM4b project in Bangalore
KUALA LUMPUR: MK Land Holdings Bhd yesterday sealed an agreement with Embassy Group of India to develop a RM4 billion “affordable homes” project in North Bangalore, India.
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ARREIT 3Q net profit up 35.7%
KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) posted a 35.7% increase in net profit to RM10.79 million from RM7.95 million a year ago, it revealed in its third quarter (3Q) financial statements for the period ended Sept 30, 2010.
The REIT said on Thursday, Oct 28 that its revenue increased 38.4% to RM16.284 million from RM11.765 million the previous year.
Verve Suites Vibe Tower sets new Malaysian Conquas score record
KUALA LUMPUR: Bukit Kiara Properties Sdn Bhd's (BKP) Vibe Tower, the second phase of Verve Suites, has scored 82.2 on the Construction Quality Assessment System (Conquas) rating, setting a record for Malaysian high-rise projects.
Bank Negara ready to act on property if need be
KUALA LUMPUR: Malaysia's central bank will clamp down on any speculation that threatens to create a property bubble, the central bank chief said on Thursday, Oct 28.
Governor Zeti Akhtar Aziz said the central bank wanted to promote house ownership but it had "wide ranging instruments" to deal with any excesses in the sector.
Y&G proposes 4-into-1 share capital reduction
KUALA LUMPUR: Property-based Y&G Corp Bhd has proposed a four-into-one share capital reduction and to acquire three companies for RM164.14 million via issuance of new shares.
Sunrise introducing serviced apartments to their business structure
KUALA LUMPUR: Sunrise Bhd will introduce serviced apartments to its portfolio once it has set up a hospitality unit next year, said its executive chairman Datuk Tong Kooi Ong (pictured).
Two budget hotels and a mixed-development in the pipeline for Y & Y Group
KUALA LUMPUR: The Y & Y Group is planning to start work on two new budget hotels and a mixed-development in the Klang Valley next year, said the group's business development and project director Kenny Yong.
1 Shamelin aims 80%-90% tenancy before 1H2011
KUALA LUMPUR: 1 Shamelin Sdn Bhd, which manages the 9-storey 1 Shamelin mall in Cheras, is confident that 80% to 90% of the retail centre's leasing space will be taken up before it opens in mid-June next year, said senior complex manager Wong Chee Keong.
Currently, over 50% of the mall has been taken up, he told reporters after the soft launch of 1 Shamelin on Thursday, Oct 28.
Maybank's Amanah Raya REIT - boosted by new assets
An attractive yield play. AAREIT’s 9M10 RM31.3m realised net profit (+38% YoY) was as we expected, but above consensus. We continue to like AAREIT for its attractive 8.9% 2011 yield (vs.
Naim Holdings - additional jobs at Bengoh Dam
• Naim Holdings Bhd announced on Bursa Malaysia yesterday evening that the group has received an award from the Kuching Works Department for an infrastructure contract at Bengoh Dam in Kuching, Sarawak.
• The contract is worth about RM168mil, involving the designing and building of a resettlement scheme following the near completion of the dam.
