KUALA LUMPUR: S P Setia Bhd posted net profit of RM42.68 million for the third quarter ended July 31, 2009, up 4.45% from the RM40.86 million a year ago mainly to the strong sales recorded from its 5/95 home and commercial ownership campaign.Announcing its results on Sept 17, it said the effects of the campaigns were beginning to be reflected in the group’s financial performance which had helpe

KUALA LUMPUR: UEM Land Holdings Bhd is venturing into the biotechnology sector via its partnership with Malaysian Biotechnology Corp Sdn Bhd (BiotechCorp), a company owned by the Minister of Finance Inc.UEM Land said on Sept 17 the proposed JV will allow UEM Land to take part and speed up the development of the biotechnolgy projects, providing property development expertise and leveraging on th

KUALA LUMPUR: Confidence in the Malaysian property market has been at the highest level since May 2008, with property developers feeling increasingly positive about the outlook of the broader economy, said property website Thinkproperty.my.In a statement yesterday, Thinkproperty.my said its property index in August 2009 rose sharply again from 41% at the beginning of the month to 59% at the end

KUALA LUMPUR:Sunrise Bhd executive deputy chairman Datuk Allan Lim Kim Huat was appointed managing director of Gefung Holdings Bhd after he acquired 25.19% equity stake in Gefung Holdings Bhd.Gefung said on Sept 15 that Lim, 50, had acquired the stake, comprising of 39 million shares via an off-market deal on the same day from former managing director and major shareholder, Seo Aik Leong.Lim is

SINGAPORE: The selling pressure on property shares could persist in the near term after the Singapore government announced on Monday that certain property measures would be undertaken to ensure a sustainable property market.According to a CIMB-GK Research report on Sept 15, it anticipated values to re-emerge from the measures.

KUALA LUMPUR: Hua Yang Bhd plans a mid to high-end township project with gross development value (GDV) of RM350 million near its current project in Taman Pulai Indah, Johor.

KUALA LUMPUR: Magna Prima Bhd is acquiring two pieces of land, totalling 28,148 sq metres in Petaling Garden from Petaling Garden Sdn Bhd for RM48.48 million.

Magna Prima says the first piece of land was 16,790.363 sq m (180,736 sq ft) while the second piece measures 11,358 sq m (122,260 sq ft) together with a row of 15 single-storey lock-up shops at Jalan 5/44 Petaling Garden.

KUALA LUMPUR: The Housing and Local Government Ministry launched a new initiative called the Housing Revival Initiative (HRI) today. The initiative is aimed at tackling the problem of abandoned housing projects.

PUCHONG: LBS Bina Group Bhd has launched its latest project, Town Villa @ Taman Tasik Puchong, which will be developed over three phases.

With its affordable pricing from RM180,000 as well as the strategic location, the project has seen overwhelming response, with some 97% of 104 units under Phase 1 being fully sold within three weeks after the soft launch.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd, the sole asset holder for the entire Klang Valley and Penang public transport system, is budgeting between RM6 to RM7 billion to extend the existing light rail transit (LRT) lines in operation. Prasarana group managing director Datuk Idrose Mohamed however, the amount could vary once the public display of the alignment ends in three months.