KUALA LUMPUR: Tower REIT recorded a net income drop of 8% for 1Q2010 to RM7.115 million from RM7.718 million over the same period last year, Bursa Malaysia announced on May 19.

Meanwhile, the REIT’s gross revenue for 1Q2010 saw a drop to RM11.036 million from RM12.547 million in the same quarter last year, representing a 12% dip.

KUALA LUMPUR: Stop work orders for hill slope developments in Kuala Lumpur remain in force, Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin told theedgeproperty.com on May 19.

KUALA LUMPUR: Kumpulan Europlus Bhd (KEURO) has disposed of 5.21% of equity interest in Talam Corp Bhd (Talam), the former announced on Bursa Malaysia on May 18.

In its announcement, the board of KEURO said it disposed of 134,925,600 ordinary shares of RM0.20 each for net proceeds of RM17,916,697.05 between March 9 and May 12, 2010.

KUALA LUMPUR: Land & General Bhd (L&G) completed the acquisition of 2.6 acres of freehold land in Ampang, Kuala Lumpur, for RM55 million, it was announced on Bursa Malaysia on May 18.

SEREMBAN: The Negri Sembilan government has agreed to give discounts to quit rent defaulters and allow the landowners to pay in installments.

Menteri Besar Datuk Seri Mohamad Hasan said some landowners owed thousands in quit rent for accumulating annual payments, which include fines amounting to 10 times the amount for late payment.

SINGAPORE: Malaysian developers Sime Darby Property Bhd, Mah Sing Group Bhd, Iskandar Investment Bhd and Pjcc Development Sdn Bhd made the country proud at the 2010 Cityscape Asia Real Estate Awards on May 18, Cityscape Intelligence reported.

BEIJING: Chinese property prices have stopped rising and transaction volumes have dwindled since the middle of last month, the country's top economic planner said on May 19.

KUALA LUMPUR: A local soil engineering company, Nehemiah Reinforced Soil Sdn Bhd, is inviting entries for a design competition from engineering, construction management and architectural students of local public and private tertiary institutions.

KUALA LUMPUR: One of the largest and most prestigious equestrian and luxury residential properties in Australia is being offered for sale.

KUALA LUMPUR: Adenan Md Yusof was appointed chief operating officer (COO) of AmanahRaya-REIT Managers Sdn Bhd on May 18.

Adenan is replacing Abas Abd Jalil, who resigned as COO on the same day. The latter was then appointed as AmanahRaya-REIT Managers’ non-executive director. The trust also appointed Shahrol Anuwar Sarman as its non-independent non-executive director on May 18.