KUALA LUMPUR: Malton Bhd has scaled back its proposed acquisition of Austin Heights Sdn Bhd from the initial 100% stake costing RM103 million to only 20% for RM20.6 million cash.Malton said on Tuesday, Sept 29 it had entered into a supplemental agreement with Southcon Builders Sdn Bhd for the acquisition of one million shares in Austin Heights for RM20.6 million.

KUALA LUMPUR: Gamuda Bhd's net profit fell 38.3% to RM43.29 million in the fourth quarter ended July 31 compared with RM70.2 million a year ago due to sharply higher operating expenses.Gamuda said on Tuesday, Sept 29 that revenue however rose 10.68% to RM942.24 million from RM851.3 million.

KUALA LUMPUR: Talam Corporation Bhd posted a lower net profit of RM195,000 in its second quarter ended July 31, 2009 (2QFY10), from RM26.6 million a year earlier, despite receiving significant other income totaling RM19. 48 million.

KUALA LUMPUR: Ireka Corporation Bhd, which is seeking external jobs, has been pre-qualified for projects worth RM2.5 billion from the private sector, which may contribute significantly to its 2011 and 2012 financial years.

KUALA LUMPUR: Eastern and Oriental Bhd (E&O) is confident its new property launches this year will be well received by the market given the current positive sentiments, said executive director Eric Chan Kok Leong.

KUALA LUMPUR: Sunway Construction Sdn Bhd (SunCon), a unit of Sunway Holdings Bhd, announced it has accepted a contract from Putrajaya Holdings Bhd worth RM147.36 million to build a hotel and office building in Putrajaya.

The new structures will be raised on Plot PZ10, Parcel Z, Precinct 1, Putrajaya.

KUALA LUMPUR: Gamuda Bhd's net profit fell 38.3% to RM43.29 million in the fourth quarter ended July 31 compared with RM70.2 million a year ago due to sharply higher operating expenses.

Gamuda said on Sept 29 that revenue, however, rose 10.68% to RM942.24 million from RM851.3 million. Earnings per share were 2.16 sen compared with 3.50 sen.

KUALA LUMPUR: Medan Damai Sdn Bhd, a wholly-owned subsidiary of Mahajaya Bhd is selling off five bumiputra shop offices in Taman Damai Utama in Puchong, Selangor totalling RM5.54 million. This will be utilised as working capital for Medan Damai for the financial year ending June 30, 2010.

KUALA LUMPUR: Berjaya Land Bhd's first quarter net profit surged 76% to RM78.11 million for the period ended July 31, 2009 from RM44.36 million a year ago, boosted by the writeback of impairment in value of investments in associated companies and its Toto betting operations.

PETALING JAYA: Falling rents and increased vacancy have made the Dubai commercial market more competitive on a global scale, according to Jones Lang LaSalle MENA’s (Middle East and North Africa) 2Q2009 Dubai Office Market Snapshot.