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Mahajaya Bhd to sell five shop offices to raise capital

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.

Berjaya Land 1Q net profit surges 76% to RM78.11 million

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.

Dubai’s commercial market now more competitive

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.

London housing market continues to surprise

PETALING JAYA: The health of the central London housing market continues to surprise observers as the market registered a 1.3% price rise in September, marking the sixth month in a row of positive price growth, said Knight Frank Prime Central London Index for September 2009.

GuocoLand strengthens position with new appointment

KUALA LUMPUR: GuocoLand (Malaysia) Bhd (GLM) is taking steps to strengthen its foothold in the property industry. Its managing director Paul Poh tells theedgeproperty.com that they are in the midst of transforming GLM into a stronger property player with more drive and dynamism.

MBAM sees steel prices rising by end-year, early 2010

KUALA LUMPUR: The Master Builders Association Malaysia (MBAM) expects steel prices to increase to RM3,000 per tonne around year-end or the beginning of next year, said its chief operating officer Tony Lee.

Berjaya Land 1Q net profit surges 76% to RM78.11m

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.However, it cautioned that its hotels and resorts business may continue to be affected by the current global outbreak of I

Amcorp's sale of AMDB shares undersubscribed

KUALA LUMPUR: AmcorpGroup Bhd's offer for sale of 119.83 million shares in AMDB Bhd was undersubscribed by 92.81%.AMDB said on Sept 28 that as at 5pm on Sept 18, AMDB received total acceptances for 7.75 million shares (6.47%) and excess applications for 859,737 excess offer shares, representing 7.19% of the 119.83 million offer shares made available under the offer.AmcorpGroup had made a renoun