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MMC records higher profit of RM344m

KUALA LUMPUR: MMC Corporation Bhd achieved a net profit of RM344.94 million for its financial year ended Dec 31, 2010 (FYE 2010) compared to a net profit of RM233.62 posted a year ago.

Its net profit for the fourth quarter (4Q 2010) was RM104.60 million, down from the RM108.60 million recorded a year ago.

23 February, 2011
Selangor Dredging 3Q pre-tax rises RM9.812m

KUALA LUMPUR: Selangor Dredging Bhd's pre tax profit for the third quarter ended Dec 31, 2010 rose to RM9.812 million from RM6.341 million in the same quarter of 2009.

Its revenue increased to RM105.095 million from RM58.946 million previously.

For the nine-month period, its pre-tax profit rose to RM28.040 million from RM15.060 million in the same period of 2009.

23 February, 2011
SHL post net profit of RM6.02 million

KUALA LUMPUR: SHL Consolidated Bhd posted a net profit of RM6.02 million on the back of revenue of RM36.84 million for its third quarter (3Q 2010) ended Dec 31, 2010.

Comparatively, the company recorded a net profit and revenue of RM5.30 million and RM63.38 million respectively a year ago, it said on Tuesday, Feb 22.

22 February, 2011
Gombak Grove achieves 45% take-up rate

KUALA LUMPUR: AQRS The Building Company Sdn Bhd's (AQRS) luxury Gombak Grove north of Taman Seri Gombak development has achieved a 45% take-up rate prior to its launch, said a company representative.

The project, which comprises 25 zero-lot bungalows on a 4.36-acre leasehold parcel, is in the midst of pre-sales, she told theedgeproperty.com on Tuesday, Feb 22.

22 February, 2011
BoJ scores small victory with Japan property boost

TOKYO: For the mere sum of US$55 million (RM167.75 million) Japan's central bank has lit a spark under the property market that if sustained could help the authorities in their prolonged battle with deflation.

22 February, 2011
CapitaLand 4Q net beats forecasts, one-off gains boost

SINGAPORE: CapitaLand, Southeast Asia's biggest real estate company, reported higher than expected quarterly net profit on Tuesday, Feb 22, although the number was 41% down from a year ago due to smaller one off gains.

The company's results come on the back of concerns that China and Singapore's recent measures to curb rising real estate prices may hurt its sales.

22 February, 2011
HK budget to target inflation, property boom

HONG KONG: Hong Kong's coming budget is expected to offer short-term handouts to residents to soften the sting of rapidly rising prices, and further moves to try to cool the booming property market.

The budget for the fiscal year beginning April 1, which Financial Secretary John Tsang will present to lawmakers on Wednesday, Feb 23, comes as Hong Kong enjoys strong growth.

22 February, 2011