KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (ARREIT) posted a 35.7% increase in net profit to RM10.79 million from RM7.95 million a year ago, it revealed in its third quarter (3Q) financial statements for the period ended Sept 30, 2010.

The REIT said on Thursday, Oct 28 that its revenue increased 38.4% to RM16.284 million from RM11.765 million the previous year.

KUALA LUMPUR: Malaysia's central bank will clamp down on any speculation that threatens to create a property bubble, the central bank chief said on Thursday, Oct 28.

Governor Zeti Akhtar Aziz said the central bank wanted to promote house ownership but it had "wide ranging instruments" to deal with any excesses in the sector.

KUALA LUMPUR: Property-based Y&G Corp Bhd has proposed a four-into-one share capital reduction and to acquire three companies for RM164.14 million via issuance of new shares.

KUALA LUMPUR: Sunrise Bhd will introduce serviced apartments to its portfolio once it has set up a hospitality unit next year, said its executive chairman Datuk Tong Kooi Ong (pictured).

KUALA LUMPUR: 1 Shamelin Sdn Bhd, which manages the 9-storey 1 Shamelin mall in Cheras, is confident that 80% to 90% of the retail centre's leasing space will be taken up before it opens in mid-June next year, said senior complex manager Wong Chee Keong.

Currently, over 50% of the mall has been taken up, he told reporters after the soft launch of 1 Shamelin on Thursday, Oct 28.

An attractive yield play. AAREIT’s 9M10 RM31.3m realised net profit (+38% YoY) was as we expected, but above consensus. We continue to like AAREIT for its attractive 8.9% 2011 yield (vs.

• Naim Holdings Bhd announced on Bursa Malaysia yesterday evening that the group has received an award from the Kuching Works Department for an infrastructure contract at Bengoh Dam in Kuching, Sarawak.

• The contract is worth about RM168mil, involving the designing and building of a resettlement scheme following the near completion of the dam.

• Sunway City Bhd (SunCity) announced yesterday that it had signed a deal with Sino-Singapore Tianjin Eco City Investment and Development Co Ltd (SSTEC) for the joint development of several plots of land in Tianjin, China measu