KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB) has purchased another 59,000 units in Sunway Real Estate Investment Trust (SunREIT) on Monday, July 26 for 90 sen each, it announced on Bursa Malaysia on Tuesday.

In total, it had acquired 41.81 million SunREIT units since July 8, according to Bursa filings.

KUALA LUMPUR: The Edge Financial Daily on Monday, July 26 wrote on the weak price performance of the two newly listed Real Estate Investment Trusts (REITs) — Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT).

KUALA LUMPUR: Milux Corp Bhd's wholly owned subsidiary TH Hin Sdn Bhd entered into a sale and purchase agreement (SPA) with Albert Wines & Spirits (M) Sdn Bhd on Monday, July 26 to dispose of a piece of vacant land in Kota Damansara, Petaling Jaya, for RM10.98 million.

KUALA LUMPUR: Bina Darulaman Bhd's net profit for the second quarter ended June 30, 2010 (2QFY10) rose 4% to RM3.25 million from RM3.12 million a year earlier while revenue fell 32% to RM33.81 million from RM49.98 million.

BUTTERWORTH: PLB Engineering Bhd expects to be back in the black in the current financial year ending Aug 31, 2010 as it focuses more on property development, said group executive chairman Datuk Ong Choo.

He said the company would be launching several new property deprojects with a total gross development value (GDV) of RM400 million over the next four years in Penang.

HONG KONG: Chinese developer Shimao Property Holdings said on Tuesday, July 27 it hired banks to help arrange a series of meetings with investors ahead of a planned dollar bond issue.

HSBC, Morgan Stanley and Standard Chartered Bank were hired for the proposed bond sale, the company said in a statement to the Hong Kong stock exchange.

KUALA LUMPUR: PLB Engineering Bhd saw its net profit jump to RM2.36 million for its third quarter ended May 31, 2010 (3Q), up 325% from RM555,000 a year ago, despite posting a 27.2% decline in revenue of RM19.95 million from RM27.42 million.

KUALA LUMPUR: Construction group Ken Holdings Bhd posted a net profit of RM1.79 million in its second quarter ended June 30, 2010 (2Q), up 54% from RM1.16 million a year ago on the back of higher profit margins recorded during the current quarter.

Similarly, its profit before tax (PBT) rose 46% to RM2.4 million from RM1.65 million, the company said on Monday, July 26.

The company said on Monday, July 26 the marginal increase in net profit was despite a 32.3% decline in revenue to RM33.81 million from RM49.98 million a year ago.

KUALA LUMPUR: Residential housing across the country is set to see an incoming supply of 535,665 units as of 2Q 2010, according to preliminary property stock data for 2Q2010 by the Finance Ministry's Valuation and Property Services Department's National Property Information Centre (NAPIC).