The Phoenix Plaza shopping mall in Cheras, Kuala Lumpur, is undergoing a RM150 million makeover. Malaysia Land Properties Sdn Bhd (Mayland) plans to reopen the 16-year-old complex with a new name and concept.

The suburbs of Bandar Utama, Mutiara Damansara and Desa ParkCity has seen property values rise steeply over the years.

While economic growth in 2011 is expected to moderate to 5.1% from the blistering 15% this year, corporate hiring is expected to remain healthy, income levels to rise and the influx of foreigners taking up residence in Singapore to swell.

KUALA LUMPUR: Gamuda Bhd's net profit rose 19.6% to RM88.53 million for the first quarter ended Oct 31, 2010 from RM74.02 million a year ago, underpinned by higher contributions from the construction and property divisions.

KUALA LUMPUR: Gamuda Bhd has appointed Raja Datuk Seri Abdul Aziz bin Raja Salim as chairman on Friday, Dec 17.

According to its filing to Bursa Malaysia, the company said the 72-year-old is presently a trustee and board member of the Malaysian Accounting Research Foundation and member of the Malaysian Institute of Accountants editorial board.

KUALA LUMPUR: IJM Corp Bhd — through its wholly-owned subsidiary IJM Construction Sdn Bhd – will construct the third phase of Platinum Park in Jalan Stonor, Kuala Lumpur.

IJM Construction received the Letter of Acceptance of Work Contract from Naza TTDI Construction Sdn Bhd for RM461 million.

KUALA LUMPUR: KPJ Healthcare Bhd is set to inject three of its hospital buildings into Al-Aqar KPJ REIT in return for RM138.77 million, in a combination of cash and new KPJ REIT units.

KUALA LUMPUR: Mulpha International Bhd is selling its Hilton Melbourne Airport Hotel in Australia to Singapore-listed Pan Pacific Hotel Group Ltd for A$108.89 million (RM337.9 million) cash.

Proceeds from disposal, which will result in a one-off pretax gain of A$77 million for the seller, will be used to reduce Mulpha's debts, the company informed Bursa Malaysia on Thursday.

KUALA LUMPUR: Scomi Engineering Bhd on Thursday, Dec 16 received the letter of award for the RM494 million KL Monorail Fleet Expansion Project from Syarikat Prasarana Negara Bhd (SPNB).

The job will take 31 months to complete, Scomi Engineering told Bursa Malaysia. No further details were provided on the scope of the project in the filing with the exchange.

KUALA LUMPUR: Property developer YTL Land and Development Bhd will launch its iconic condominium The Capers in Sentul East in the first quarter of 2011, its customer relation's manager Karen Tan said.