KUALA LUMPUR: Encorp Bhd's flagship development Encorp Strand was awarded the Highly Commended Award in the Mixed-Used Development category for Malaysia of the Asia Pacific Property Awards 2011.

KUALA LUMPUR: Mutiara Goodyear Development Bhd has bagged two local awards in the recent Asia Pacific Property Awards 2011 held in Shanghai, it announced on Tuesday, May 31.

PUTRAJAYA: Deputy Prime Minister Tan Sri Muhyiddin Yassin said more more "green" buildings should be built in the country as they can save costs and contribute in promoting better environmental quality.

He said the government would consider providing incentives to those who built houses and facilities which adhered to the Green Building Index (GBI).

SINGAPORE: Yongnam Engineering (HK) Ltd, a wholly-owned unit of Yongnam Holdings Ltd (YHL), has secured HK$300 million (RM115.46 million) worth of specialist civil engineering sub-contracts for the Hong Kong section of the Express Rail Link (XRL).

ALOR SETAR: The Alor Setar City Council will intensify efforts to collect outstanding quit rent amounting to more than RM12 million, Mayor Datuk Khazali Din said on Tuesday, May 31.

He said the number of enforcement officers had been increased for the operation to close premises failing to settle quit rent arrears.

KUALA LUMPUR: GD Development Sdn Bhd scooped two awards at the Asia Pacific Property Awards 2011 in association with Bloomberg TV in Shanghai, for its RM3.5 billion mixed development Green Beverly Hills at Putra Nilai.

SYDNEY: Home prices in Australia's major cities fell 0.3% in April, marking the fourth consecutive monthly fall, with a strong local dollar and a weaker financial sector hitting the market for luxury houses, industry data showed on Tuesday, May 31.

KUALA LUMPUR: Property developer Eastern & Oriental Bhd (E&O) posted a 72% drop in net profit for 4QFY11 ended March 31 on the back of a lower contribution from its property division, due to lower revenue recognised, higher finance costs and pre-opening expenses incurred for its properties, Lone Pine Hotel and Straits Quay Retail.

IJM Land Bhd (May 30, RM2.80)
Maintain buy at RM2.80 with fair value of RM4: We reaffirm our "buy" rating on IJM Land with our fair value unchanged at RM4, based on an unchanged 10% discount to our fully-diluted net asset value (NAV) estimate of RM4.46.

KUALA LUMPUR: Construction company IJM Corporation Bhd's orderbook may potentially hit RM9 billion by year-end from its existing RM4 billion, research houses said.

The increase will come from the RM5 billion worth of new orders for the New Pantai Expressway (NPE) extension and the West Coast Expressway (WCE), said HwangDBS Vickers Research in its research note on Monday, May 30.