KUALA LUMPUR: Farlim Group recorded a loss of RM180,000 in 1Q ended March 31, 2010, compared with a net profit of RM1.043 million in the corresponding quarter a year ago.

Revenue dropped by 46.4% during the current quarter under review, with RM13.757 million compared with RM25.665 million in the same period a year ago.

KUALA LUMPUR: Mitraland Group expects its maiden hospitality venture, the All Seasons hotel, to start operations within three years.

To be managed by the Accor Group, the hotel would be the final component in Mitraland’s mixed development called C180 coming up at Batu 11 in South Cheras.

KUALA LUMPUR: Real Estate and Housing Developers' Association (Rehda) Malaysia condemns the acts of governing officials in purchasing low-cost housing meant for low-income groups as reported in a daily newspaper on May 21.

KUALA LUMPUR: The quality and standard of new property developments in the city, rivalling some of the region’s best, is a story waiting to be discovered, said N K Tong.

The newly-elected 2010-12 chairman of Real Estate and Housing Developers’ Association (Rehda) Kuala Lumpur Branch said the city’s real estate seemed to have benefitted from the recent global economic meltdown.

KUCHING: A contractor for the RM150 million Sibu Airport upgrading project is expected to be announced in July, once the period ends on May 20, said Sarawak's assistant minister of Infrastructure Development and Communication Datuk Lee Kim Shin.

ALOR SETAR: Deputy Education Minister Datuk Dr Wee Ka Siong said upgrading work on 150 schools throughout the country had been completed with financial aid under the First Economic Stimulus Package.

Wee said under the stimulus package, the government had allocated RM50 million to religious, Chinese, Indian and other schools that needed aid.

KUANTAN: The Fire and Rescue Department is building 60 more fire stations nationwide in addition to the existing 254 stations, its director-general, Datuk Hamzah Abu Bakar said on Friday, May 21.

He said there were also plans to upgrade facilities at the stations under the 10th Malaysia Plan.

KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (AmanahRaya-REIT) expects RM2.151 million in annual rental for three years by leasing its warehouse complex in Port Klang to Kontena Nasional Bhd.

The lease is for nine years and rental of the warehouse will be revised every three years at a pre-fixed rate to be agreed by both parties.

KUALA LUMPUR: AmanahRaya-REIT Managers Sdn Bhd is to grow the asset size of the real estate investment trust (REIT) to RM1.5 billion in the next two years, from RM1.002 billion, at present.

The total assets put AmanahRaya-REIT in second place after Starhill REIT, said Chairman Tan Sri Ahmad Fuzi Abdul Razak.

KUALA LUMPUR: Hang Seng Bank (China) Ltd is buying is buying office and retail space in the Lujiazui area of in Pudong, Shanghai to house its local HQ.