KUALA LUMPUR: Hua Yang Bhd posted net profit of RM4.31 million for the second quarter ended Sept 30, 2010 (2Q2010), up 57% from RM23.9 million a year ago on the back of better sales and construction progress for the current period.

Its revenue increased by 49% to RM35.63 million from RM23.9 million a year ago, it announced on Bursa Malaysia on Wednesday, Oct 20.

KUALA LUMPUR: WCT Bhd has secured two separate contracts in Qatar and Malaysia worth a total of approximately RM1.49 billion.

In a filing to Bursa Malaysia on Wednesday, Oct 20, WCT said it had been awarded a contract by the government of Qatar to build and maintain a government administrative building in Doha for a lump sum equivalent to RM1.36 billion.

KUALA LUMPUR: MIDF Research believes Mah Sing Bhd's landbanking activities will gather momentum despite the company's recent RM1.1 billion acquisition of Kinrara, Subang-Damansara and Bukit Jelutong land parcels.

KOTA KINABALU: The bill on the Renewable Energy Act is expected to be tabled in Parliament before year-end, with the Act coming into force by June next year.

Energy, Green Technology and Water Ministry's Undersecretary of the Sustainable Energy Division, Badriyah Abdul Malek, said the Feed-in Tariff (FiT) mechanism is therefore expected to be implemented at the same time.

KUALA LUMPUR: The Education Ministry has audited 55,000 buildings in 10,000 schools nationwide to enable remedial works on the defects on affected parts to be carried out, said Deputy Prime Minister Tan Sri Muhyiddin Yassin.

KUALA LUMPUR: The Ukay Bestari housing project consisting of 1027 units of apartments in Hulu Klang here, which has been abandoned since 2006 is scheduled to be fully completed by June next year, said Housing and Local Government Minister Datuk Chor Chee Heung.   

He said that he would be personally monitoring the project to ensure the deadline was met.

SINGAPORE: ITB Asia 2010 opened here today with the travel industry in Asia looking confident again and enjoying strong growth in leisure, meetings and corporate travel.

Exhibitor numbers at the travel show organised by Messe Berlin (Singapore) was up 6.0% compared with last year, with growth in the travel industry reflecting much improved economic growth figures and demand in Asia.

BEIJING: Seven projects with a combined gross floor area of approximately 775,000 sq metres are expected to make debuts in the Beijing retail property market in 4Q10, Colliers International said.

It added that four of these new projects, accounting for 75.75% of the total new supply in the quarter, are located in non-traditional catchment areas such as West Chang An Avenue.

HONG KONG: China-based developers bid prices of land up by more than 46% week on week last week, brushing aside concerns that the central government is serious about cracking down on property price growth.

HONG KONG: Analysts say the government's latest measures to rein in fast-rising property prices won't work.

But that doesn't mean the administration is wrong to try damping down the market, says one observer.