KUALA LUMPUR: The proposed disposal of Olympia Industries Bhd's Menara Olympia to Jelita Timur Sdn Bhd for RM30.2 million has been aborted following the buyer's withdrawal.

In a Bursa Malaysia filing on Friday Aug 27, Olympia Industries said it will refund the RM3.02 million deposit to Jelita Timur.

KUALA LUMPUR: Power Root Bhd's subsidiary PT. Natbio Marketing Indonesia has acquired a 807.29 sq ft-land with an attached four-storey shop office at the Garden Shopping Arcade, Central Park, Indonesia from PT. Sun International Capital for RM1.74 million.
 

KUALA LUMPUR: Mutiara Goodyear Development Bhd through its wholly-owned subsidiary Regal Form Sdn Bhd, is disposing a piece of vacant freehold land measuring approximately 71,123.39 sq m in Ulu Langat Selangor to Pusaka Padu Sdn Bhd for RM18.4 million.

SIBU (Sarawak): Sarawak housing developers are in a fix over the mandatory ruling for them to build low cost houses if their proposed development areas exceed four hectares.

Sarawak Housing and Real Estate Developers' Association (SHEDA) Secretary-General, Sim Kiang Chiok, said they were also required to do the same on projects where native land is reclassified to mixed zone.

KUALA LUMPUR: Bandar Raya Developments Bhd's (BRDB) net profit for the second quarter (2Q) ended June 30, 2010 doubled to RM84.15 million from RM40.61 million a year earlier despite posting a lower revenue of RM151.36 million.

Earnings per share was 17.7 sen, while net assets per share was RM3.59.

KUALA LUMPUR: KLCC Property Holdings Bhd’s revenue for its first quarter ended June 30, 2010 rose 4% to RM227.0 million from RM218.4 million recorded in the corresponding quarter last year.

The company said on Friday, Aug 27 that its profit before taxation stood at RM139.8 million, up 7% compared with RM131.1 million recorded a year earlier.

HONG KONG: The Royal Group of Cambodia has unveiled the master plan for the development of Koh Rong island in Cambodia, which will be Asia’s first environmentally planned resort destination.

KUALA LUMPUR: UEM Land Holdings Bhd's net profit for the second quarter ended June 30, 2010, (2Q10) jumped an impressive 583% to RM40.34 million from RM5.90 million a year ago, in line with higher revenue and gain of RM25.6 million on the disposal of an associate, Touch 'N Go Sdn Bhd to PLUS Expressway Bhd.

KUALA LUMPUR: Tradewinds Corp Bhd's net profit for the second quarter ended June 30, 2010 (2Q10) rose 23.3% to RM11.33 million from RM9.18 million a year ago, due to a 3.3% increase in revenue.

• Within expectations