KUALA LUMPUR: AmFIRST Real Estate Investment Trust (AmFIRST REIT) posted a net profit of RM10.3 million in its third quarter (3Q) for the financial year ending March 31, 2011, an increase of 7.8% from RM9.6 million in the preceding year's corresponding quarter due to the compensation of land acquisition at The Summit Subang USJ.

KLANG: Syarikat Bekalan Air Selangor (Syabas) and a housing developer paid compensation totalling RM183,224 to 66 Taman Palm Grove residence here who were affected by the flash flood after a water pipe burst in the area in May last year.

KUALA LUMPUR: Property developer Oriental Interest Bhd reported a net loss of RM883,000 for its second quarter (2Q) of its financial year ending Jun 30, 2011, a drop of 206% from a net profit of RM832,000 for the same period a year ago due to declining sales, high materials cost and adverse foreign exchange movement experienced by manufacturing division.

KUALA LUMPUR: The serviced apartments at Naza TTDI Sdn Bhd's new commercial development TTDI Adina in Seksyen 13, Shah Alam are receiving a good response from buyers with a 50% take-up rate to date.

? Developers started their actions. The rising foreign interest on direct investment into Penang should continue to hold up property values in the state, underpinned by higher demand from both local and foreign buyers.

KOTA KINABALU: A smart partnership between the Sabah Housing and Town Development Authority (SHTDA) and a peninsula-based developer will see 20,000 units of affordable homes built throughout Sabah in the next five years.

HONG KONG: Hong Kong's government will increase land supply in the coming fiscal year in a bid to cool property prices, the Ming Pao newspaper reported on Tuesday, Feb 8.

KUALA LUMPUR: Seloga Holdings Bhd reported a net profit of RM5.9 million for the fourth quarter (4Q) of its financial year ended Dec 31, 2010, an increase of 296% from RM1.49 million in the same quarter a year ago, due to the sales of the company's developmental rights over a parcel of land under the joint-venture agreement with UEM Land Bhd.

KUALA LUMPUR: IRIS Corporation Bhd has signed a joint-venture (JV) agreement with Koto Malaysia Sdn Bhd and Ambitech Sdn Bhd for the development, manufacture and construction of Koto's Industrialised Building System (IBS).

KUALA LUMPUR: Ireka Corporation Bhd's wholly-owned subsidiary Ireka Engineering and Construction Vietnam Co Ltd has been awarded a contract by Vietnam-based Hoa Lam-Shangri-La Healthcare LLC for a construction job worth RM27.58 million.