KUALA LUMPUR: Selangor Properties Bhd (SPB) posted a net profit of RM51.89 million for its financial year ended Oct 31, 2011(FYE 2010) on back of revenue of RM203.04 million.

KUALA LUMPUR: The mass rail transit (MRT) project will benefit the economy and boost the productivity of workers by 2020, says Land Public Transport Commission (LPTC).

Chief executive officer Mohd Nur Ismal Kamal said the implementation of the project would see 280 million annual person-hours saved in worker productivity and RM20 billion per annum in time savings.

KOTA KINABALU: Bristeel Properties Sdn Bhd confirmed on Thursday, Dec 23 the purchase of 3.29ha land at the Palm Oil Industrial Cluster (POIC) in Lahad Datu.

Managing director William Chee said the Kota Kinabalu-based company would be constructing 17 units of small-medium enterprise light industrial warehouses.

KUALA LUMPUR: Dubai and Abu Dhabi retailers are feeling optimistic about the future as the market is showing signs of growth again, says Colliers International regional director Stuart Gissing in its MENA (Middle East and North Africa) Retail Overview for 3Q2010 recently.

KUALA LUMPUR: The government expects to open the tender process for the first line of the MRT project between Sungai Buloh and Kajang by April, says Land Public Transport Commission chief executive officer Mohd Nur Ismal Kamal.

He said the tender process would be open to both local and foreign companies which have the expertise in handling MRT projects.

BEIJING: A 122-floor skyscraper is expected to be built in Beijing's Central Business District, making itself the highest in the Chinese capital, Xinhua news agency cited a local daily as saying on Thursday, Dec 23.

LONDON: Mayor of London Boris Johnson has gave the go-ahead on Wednesday, Dec 22 for the redevelopment of Battersea Power Station and its surrounding area.

Battersea's imposing white brick chimneys have been a feature of London's skyline for almost 80 years but has suffered a succession of failures to redevelop the site since it ceased power production nearly three decades ago.

• The Malaysian and Indian governments signed a Memorandum of Understanding (MoU) in Putrajaya yesterday on technical assistance for road development and management, according to a report by Bernama.

KUALA LUMPUR: Land & General Bhd (L&G) is set to venture into development activities in Senawang and Seremban with the proposed acquisition of 60 parcels of land for RM25 million, it announced to Bursa Malaysia on Wednesday, Dec 22.

KUALA LUMPUR: Syarikat Perumahan Negara Bhd (SPNB) plans to do away with the RM2,500 retention money imposed on contractors involved in future Rumah Mesra Rakyat (RMR) projects.

SPNB chairman Datuk Ir Idris Haron said the move would help contractors achieve higher profit margins.