KUALA LUMPUR: Construction firm SBC Corporation Bhd posted net profit of RM1.28 million in its first quarter ended June 30, 2010 (1QFY2011), down 54.5% from RM2.81 million a year ago as it recorded lower revenue.

KUALA LUMPUR: Hubline Bhd is acquiring two parcels of leasehold land and buildings in Miri for RM15 million from Many Plus Realty Sdn Bhd.

Its unit Hubline Logistics Sdn Bhd had signed two sales and purchase agreements with Many Plus Realty on Friday, July 23 for the acquisition.

KUALA LUMPUR: ACE market-listed company Equator Life Science Bhd received an offer from Sin Chew Media Corporation Bhd to purchase a piece of leasehold industrial land in Johor.

The offer for disposal involves a piece of land measuring 1.88 hectares (4.6 acres) for RM2.94 million, the company said in a filing to Bursa Malaysia on Friday, July 23.

SHANGHAI: London-based high-end department store Harrods is said to be in talks with Shanghai municipal government on the opening of its first store in China, reported China Daily.

KUALA LUMPUR: Bolton Bhd will be launching the final phase of its 42-acre Tijani development in Bukit Tunku, popularly known as Kenny Hills, in Kuala Lumpur on Saturday, July 24.

BEIJING: China will start levying a property tax in 2012 as part of measures to regulate volatility in the real-estate market.

The annual tax will be introduced in a pilot scheme in several cities, according to the National Business Daily, citing an unidentified participant at a Ministry of Finance seminar.

KUALA LUMPUR: London Stock Exchange-listed Aseana Properties Ltd, a unit of Ireka Corporation Bhd, may consider returning excess cash to shareholders following the proposed disposal of a 20-storey office tower and a five-storey retail mall in 1 Mont' Kiara for RM333 million.

KUALA LUMPUR: The enbloc sale of 1 Mont'Kiara (1MK) for RM333 million by Aseana Properties Ltd to a real estate fund management company affiliated with Hong Kong's Cheung Kong Group marks the return of foreign institutional interest in Mont'Kiara area properties.

KUALA LUMPUR: UEM Group Bhd is aiming for "stretch targets" of RM30 billion in revenue and RM3 billion in net profit in 2015, said its managing director and CEO Datuk Izzaddin Idris.

He said the group would look to achieving its targets via organic growth and acquisitions. However, it is not considering any targets at this point in time.

Bolton Bhd
(July 21, 94.5 sen)