KUALA LUMPUR: The YTL group further restructured its property portfolio with the injection of a slew of assets into Starhill Real Estate Investment Trust (Starhill REIT), making it the first full-fledged hospitality REIT in the country.

KUALA LUMPUR: TA Global Bhd's net profit for 3QFY11 ended Oct 31 has more than doubled to RM38.75 million from RM17.11 million a year ago mainly due to higher contribution from the hotel division as a result of its recent acquisition exercise.

KUALA LUMPUR: TA Enterprise Bhd has posted a higher pre-tax profit of RM36.46 million for the third quarter (3Q) ended Oct 31, 2010, from RM23.25 million chalked up in the same quarter last year.

Revenue rose to RM153.29 million from RM118.225 million in the corresponding quarter.

Coporate Highlight

WCT

KUALA LUMPUR: FAM Development Sdn Bhd is launching what is touted to be the first landed strata development in Cheras, Kuala Lumpur.

The gated and guarded Taynton Harmoni project comprising 16 units of 3- storey bungalows tagged between RM3.8 million and RM6.6 million will be launched on Saturday, Dec 18.

KUALA LUMPUR: Hotel room prices in the Asia Pacific region have risen by 15% in 3Q from 1Q2004, the highest internationally on higher demand for accommodation, said Asia Pacific vice president and managing director Johan Svanstrom in a statement on Tuesday, Dec 14.

HONG KONG: Morgan Stanley will shut down its real estate investment operations in South Korea by the end of the year to focus on other Asian markets, sources close to the company said on Tuesday, Dec 14.

Morgan Stanley Real Estate Investing would close its Korean operations, manned by 10 people, after investing in the market for more than 10 years, the sources said.

KUALA LUMPUR: The Naza brothers — SM Nasarudin SM Nasimuddin and SM Faliq SM Nasimuddin — have both resigned from the board of Kumpulan Jetson Bhd, according to the construction company's filing on Bursa Malaysia on Monday, Dec 13.

KUALA LUMPUR: Property developer Bukit Kiara Properties Sdn Bhd (BKP) won the highest recognition award in conjunction with the third Malaysian Business Ethics Excellence Award 2010/2011.

Held on Dec 9, the achievement makes BKP as the country's first and only property development company to win the award thrice in a row. It won the inaugural award in 2006, and subsequently in 2008.

KUALA LUMPUR: Mutiara Goodyear Development Bhd's maiden project in Kajang Nadayu 92 Kajang has achieved 100% take-up on the first day of its launch.

Phase 1 of the 68.6-acre development, comprising 119 units of terrace houses was launched on Saturday, Dec 11.