KUALA LUMPUR: SBC Corporation Bhd sold its 80% stake in Armada Bayumas for RM200,000.

In a filing to Bursa Malaysia on Thursday, Jan 27, the company said it sold 8,000 ordinary shares of RM1 each, representing 80% equity interest, in Armada Bayumas to YCH Development Sdn Bhd.

The principal activities of Armada Bayumas are property development and property management.

KUALA LUMPUR: Equine Capital Bhd is seeking to revoke a sales and purchase agreement (SPA) entered August last year with Jelang Puncak Sdn Bhd for a piece of leasehold land in Selangor.

In a filing to Bursa Malaysia on Thursday, Jan 27, the developer said the revocation took place because the SPA has not been completed as the conditions precedent stated have yet to be fulfilled.

KUALA LUMPUR: Fajarbaru Builder Group Bhd saw flat net profit of RM5.28 million in its second quarter ended Dec 31, 2010 (2QFY2011) from RM5.15 million the previous year, on higher revenue.

Its revenue for the quarter, meanwhile, was up 53.8% to RM58.16 million from RM37.82 million a year earlier. Its basic earnings per share stood at 3.14 sen.

KUALA LUMPUR: The recently-listed Benalec Holdings Bhd is acquiring two vessels for RM20.74 million.

KUALA LUMPUR: Space U8, Malaysia's first eco-mall developed by Mainstay Development Sdn Bhd is scheduled to open in June. The RM200 million mall located within Bukit Jelutong, Shah Alam is currently 90% complete.

KOTA BHARU: The Kelantan government today decided to re-acquire the Pasar Lambak Arked Uda site which belonged to Uda Holdings Bhd to build shop lots to reaccommodate the more than 200 former traders at the market.

HONG KONG: A luxury housing project for the elderly now under construction in North Point will include a wine cellar and fine dining restaurants — and for tenants who continue to work, a business centre.

SHANGHAI: Newspaper journalist Li Daquan made a bold decision two years ago to buy a flat in his hometown in Sichuan province, even though he was living and working in Shanghai.

HONG KONG: Hong Kong retailers are rolling out their red carpets, along with free bus rides, wine, theme park tickets — and even "pudding tours" — to lure mainland shoppers into their malls before and during the Lunar New Year.

DUBAI: Dubai house prices, already nearly 60% off their peak, are set to drop another 10% over the next two years as new units are released onto a market awash with supply, a Reuters poll shows.

A property boom in Dubai collapsed at the end of 2008 when it was hit by the global financial crisis and the Gulf state's debt crisis.