KUALA LUMPUR: SBC Corporation Bhd saw its net profit surge 60% to RM2.4 million for the second quarter ended Sept 30, 2010 from RM1.5 million a year ago, according to a filing to Bursa Malaysia.

The group posted a higher net profit despite a 21.2% lower revenue of RM20.58 million (compared with RM26.1 million).

On 12 Nov 2010, Bandar Raya Developments entered into a joint venture cum shareholders agreement with Country Heights Land SB to undertake the proposed development of 66 parcels of leasehold land in Bluwater Estate (The Mines, Seri Kembangan) expiring in 2091 measuring approximately 47.58 acres via the 75:25 JV company called Earth Pavilion SB (EPSB).

DUBAI: Abu Dhabi-based Tasweek Real Estate Development and Marketing recently explored the property and financial markets of Malaysia and Singapore to assess business opportunities and local market trends.

CYBERJAYA: IOI Properties Bhd has recently launched completed condominium units developed under the build-then-sell concept in Phase 3 of its Puteri Palma Condominium project in IOI Resort City, Cyberjaya.

MELBOURNE: Concerns are growing in rural areas of Australia as foreign government-backed entities buy up significant parcels of agricultural land.

More than A$9 billion (RM27.75 billion) of prized agricultural assets have been sold to offshore interests in the past two years alone, said The Daily Telegraph on Monday, Nov 15.

HONG KONG: Hong Kong could face heightened risks of a property bubble forming after the United States announced a second round of quantitative easing, Financial Secretary John Tsang said.

CHENGDU: The appetite for owning property remains undiminished on the mainland, despite saturation news coverage given to moves by the government to hose down demand and rein in prices.

Chengdu resident Liao Fan is among those who refuse to be frightened out of plans to buy property because of concerns that prices may fall under the weight of concerted policy measures.

BANDAR RAYA DEVELOPMENTS BHD

• Bandar Raya Developments Bhd (BRDB) announced on Friday it had entered into a JV with Country Heights Land Sdn Bhd (CHLSB) to develop 66 parcels of leasehold land measuring 47.6 acres at Bluwater Estate,The Mines in Seri Kembangan.

Datuk Alan Tong Kok Mau is renowned for transforming a rubber estate on the fringes of Kuala Lumpur into what is now the thriving international enclave of Mont’Kiara, earning him recognition as “KL’s Condo King”.

The Johor Baru property market is hotting up. Public confidence is increasing in tandem with the improving economy in general, which in turn has positively affected the residential market there. Greater economic activity driven by Iskandar Malaysia may also have contributed to the more vibrant property market.