KUALA LUMPUR: Melati Ehsan Holdings Bhd posted a net profit of RM1.13 million for the third quarter ended May 31, 2010 (3Q), down 63% from RM3.06 million a year ago on the back of lower construction activities.

Revenue declined by 35% to RM30.9 million from RM47.38 million, the company said on Thursday, July 29.

KUALA LUMPUR: Quill Capita Trust has posted a net profit of RM8.29 million for its second quarter ended June 30, 2010 (2Q), up by 2% from RM8.08 million a year ago, in line with its investment objectives, the company said.

KUALA LUMPUR: A winding-up petition has been served on Ho Hup Construction Company Bhd subsidiary Bukit Jalil Development Sdn Bhd (BJD) by Hew Hoi Lan @ Kew Hoi Lam.

The winding-up petition dated July 12 was served to BJD on July 28 and the winding-up petition was presented to the High Court of Malaya at Kuala Lumpur on July 12, Ho Hup said on Thursday, July 29.

KUALA LUMPUR: Ranhill Bhd's joint venture with STS Educational Group Ltd has been pre-qualified by the Bangladesh Power Development Board for the development of a 150-to-225 megawatt combined power plant on a build-own-operate (BOO) basis in Bhola, Bangladesh.

KUALA LUMPUR: IRIS Coropration Bhd (ICB) is poised to venture into property development via its new subsidiary IRIS Land Sdn Bhd, formerly known as Peak Structure Sdn Bhd.

The group announced on Thursday, July 28, that it had acquired the entire issued and paid-up share capital comprising two shares for RM2 cash on July 27.

KUALA LUMPUR: The property development market in Malaysia is not ready to completely adopt the build-then-sell (BTS) concept, said industry players together with Housing and Local Government Minister Datuk Wira Chor Chee Heung.

KUALA LUMPUR: The Penang state government will be putting up a parcel of land located between the Penang's first bridge and Queensbay shopping mall in the open market for international open tender.

KUALA LUMPUR: Property buying trends in Penang may see a movement away from high-end to medium-priced properties, said Penang's chief minister, Lim Guan Eng.

This assertion was based on the volume of real estate transaction, which grew from 22,323 units as of 2008 to 22,724 units by 2009, but the transaction value decreased from RM7.27 million in 2008 to RM6.53 million in 2009.

PETALING JAYA: The Virtual Peaks Group Sdn Bhd (Virtual Peaks) on Thursday, July 29 unveiled plans for its five-acre boutique resort in Bali, Emerald Tulamben Resort & Spa, which it acquired in May this year.