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City&Country: New landmark for Taman Desa Jaya

The Innoverse Group is brimming with confidence and all geared up to take on ventures which others may find too challenging after its success in developing Ehsan Industrial Park in Kepong, Kuala Lumpur, in 2008.

GuocoLand posts RM11.48 million 4Q profit

KUALA LUMPUR: GuocoLand (Malaysia) Bhd's net profit for its fourth quarter (4Q) ended June 30, 2010 rose to RM11.48 million, compared to a loss of RM72 million a year ago, mainly due to higher contribution from the property development and hotel businesses.

Hock Seng Lee secures RM47.1m Sarawak road project

KUALA LUMPUR: Hock Seng Lee Bhd (HSL) has secured RM47.1 million road project in Tanjung Manis, Mukah Division, Sarawak from the Sarawak Timber Industry Development Corp on Wednesday, Aug 18.

Sustained re-rating for property stocks seen

KUALA LUMPUR: AmResearch expects a sustained share price re-rating cycle for the property sector as the disconnect between the robust physical market and valuation of property equities will soon reverse.

Bolton looks overseas for expansion

PUCHONG: Bolton Bhd is looking at overseas venture for further business expansion, its managing director Chan Wing Kwong said.

Speaking to the press after unveiling The Wharf here on Friday, Aug 20, he added that it is looking at countries "within five to six hours away" from Malaysia, such as China and Vietnam.

US home refinancing demand at highest in 15 months

NEW YORK: US mortgage applications leaped last week as rock-bottom interest rates lifted demand for home refinancing to its highest level in 15 months, a development that could portend stronger economic growth.

Home loan refinancing puts extra cash into consumers’ hands that can be used to pay off existing debt or funnel money into the economy through extra spending.

WCT 2Q net profit dips 19.5%

KUALA LUMPUR: WCT Bhd’s net profit for the second quarter ended June 30, 2010 (2QFY10) dipped 19.5% to RM33.75 million from RM41.95 million a year earlier on the back of lower revenue of RM513.56 million versus RM1.17 billion.