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Bedford Land to dispose Positive Properties

KUALA LUMPUR: Bedford Land Sdn Bhd (BLSB), an indirect wholly-owned subsidiary of GuocoLand (Malaysia) Bhd has entered into a sale and purchase agreement with RHB Hartanah Sdn Bhd (RHBH) for the disposal of its 50% equity interest in Positive Properties Sdn Bhd (PPSB) for a cash consideration of RM35 million. RHBH is the holder of the remaining 50% equity interest in PPSB.

26 May, 2010
Bolton records higher net profit in 4Q2010

KUALA LUMPUR: Bolton Bhd has recorded a higher net profit of RM9.842 million in its fourth quarter ended March 31, 2010 compared with a net loss of RM2.474 million recorded in the same period last year.

Revenue jumped to RM74.174 million compared to RM43.907 million last year.

26 May, 2010
TRC Synergy's Cambodian unit in US$9.36m property project

KUALA LUMPUR: TRC Synergy's unit TRC Land (Cambodia) Ltd has entered a US$9.36 million (RM31 million) construction contract with Delta Garden Ltd to build bungalows and infrastructure for a project in Kandal Province, Cambodia.

26 May, 2010
Magna Prima net profit down by 93% in 1Q2010

KUALA LUMPUR: Magna Prima Bhd’s net profit eased by 93% to RM147,000 in its first quarter ended March 31, 2010 from RM2.256 million recorded in the same period last year, while revenue dropped 70% to RM18.1 million from RM61.1 million in the same quarter last year due to the lack of ongoing projects.

26 May, 2010
Sales for Senibong Cove phase one exceed expectations

JOHOR BARU: Australia-based Walker Corporation has revised its annual sales target for phase one of its Senibong Cove development in Johor Baru to RM100 million from the initial RM65 million, due to the better than expected take-up.

26 May, 2010
Kumpulan Hartanah Selangor 1Q net profit up 188%

KUALA LUMPUR: Kumpulan Hartanah Selangor Bhd records a higher net profit of 188% to RM1.455 million in its first quarter ended March 31, 2010, compared to net profit loss of RM12.810 million posted in the same period last year.

26 May, 2010
Penang government opens tender for operating Hotel Crag in Bukit Bendera

PENANG: The Penang government has opened tender for companies interested in the renovation, refurbishment and management of Hotel Crag in Bukit Bendera here. Chief Minister Lim Guan Eng said the state government intended to redevelop the hotel to attract more tourists, both locals and foreigners, to the hill.

26 May, 2010
Mah Sing posts higher pre-tax profit and revenue

KUALA LUMPUR: Property developer, Mah Sing Group Bhd, posted a 34% higher first quarter pre-tax profit for the period ended March 31 to RM41.713 million from RM31.119 million in the same period in 2009.

26 May, 2010
Bertam Alliance Casabella bungalows soft-launched

KUALA LUMPUR: Bertam Alliance Bhd is optimistic that its high-end bungalow project, Casabella, in Kota Damansara in Petaling Jaya, has soft-launched the project two months ago.

Its Executive Chairman Ng Sing Hwa said the official launch is set for this July.

26 May, 2010