KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) and IJM Land Bhd on Tuesday, Nov 23 announced their proposed merger exercise, which will create the country's second largest property player after the enlarged UEM Land Holdings Bhd, with a market capitalisation exceeding RM7 billion and a landbank of over 9,000 acres.

KUALA LUMPUR: Alila Bangalore by Alila Hotels & Resorts sets to open in February 2011 the hotelier said in a press statement on Tuesday, Nov 23. The hotelier also develops high-end hotels and resorts in countries such as China, Laos, Oman, Vietnam and Portugal.

KUALA LUMPUR: Alila Villas Uluwatu in Bali by Alila Hotels & Resorts has won three international awards in recent months, the hotelier stated in a press statement on Tuesday, Nov 23.

KUALA LUMPUR: The government's plan to extend the light rail transit (LRT) service in the Klang Valley is well underway, the Dewan Rakyat was told on Tuesday, Nov 23.

Deputy Transport Minister Datuk Abdul Rahim Bakri said the extension project was now in its final stages of detailed designing, with over 95% already completed.

KUALA LUMPUR: The Employees Provident Fund (RPF) will, from time to time, evaluate potential investments in the property sector, its deputy chief executive officer for investment Shahril Ridza Ridzuan said on Tuesday, Nov 23.

KUALA LUMPUR: Bina Darulaman Bhd (BDB) has proposed to undertake a private placement of new shares representing 10% of its issued and paid-up share capital to a corporate investor, it announced to Bursa Malaysia on Monday, Nov 22.

KUALA LUMPUR: Ken Holdings Bhd has posted a net profit of RM6.3 million for the third quarter (3Q) ended Sept 30, 2010 — more than double its net profit of RM2.95 million from a year ago, underpinned by higher revenue.

In a filing to Bursa Malaysia on Monday, Nov 22, the group more than doubled its turnover to RM20.26 million from RM8.6 million.

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) has posted a net loss of RM1.78 million for its third quarter (3Q) ended Sept 30, 2010 from a net profit of RM2.23 million a year ago, despite higher revenue.

KUALA LUMPUR: LBI Capital Bhd's net profit declined by 26% to RM1.32 million for its third quarter (3Q) ended Sept 30, 2010 from RM1.8 million a year ago underpinned by lower revenue, the group announced to Bursa Malaysia on Monday, Nov 22.

Its revenue dropped 15.2% to RM10.53 million from RM12.42 million, due to the completion of its major project and the slow start of new projects.

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) saw its net profit shrink by 63% to RM3.6 million for its third quarter (3Q) ended Sept 30, 2010 from RM10.01 million a year ago, despite slightly higher revenue.

Its revenue increased by 5.3% to RM270.91 million from RM257.11 million, said in a filing to Bursa Malaysia on Monday, Nov 22.