KUALA LUMPUR: General Corp Bhd (GCB) will dispose of its entire operations (including assets and liabilities) to Consistent Record Sdn Bhd (CRSB) for RM505.044 million. GCB entered into a conditional sales and purchase agreement with CRSB as announced on Bursa Malaysia on May 19.

KUALA LUMPUR: Eastern & Oriental Bhd announced a share buy back exercise on May 19 on Bursa Malaysia. A total of 350,000 ordinary stock units of RM1 each were purchased for RM332,287.29.

KUALA LUMPUR: Mah Sing Group Bhd (Mah Sing) acquired 19.18 acres of freehold industrial land in HICOM Industrial Estate in Shah Alam for RM45.5 million or about RM54.45 psf, it announced on Bursa Malaysia on May 19.

The land was acquired by Mah Sing through its wholly-owned subsidiary, Multi Synergy Group Sdn Bhd from Quill Industrial Properties Sdn Bhd.

KUALA LUMPUR: Dijaya Corp Bhd (Dijaya) recorded revenue of RM58.37 million for 1Q2010, an increase of RM13.59 million or 30.34% compared with RM44.78 million for the preceding corresponding quarter, an announcement on Bursa Malaysia on May 19 stated.

KUALA LUMPUR: Encorp Bhd recorded revenue of RM47.63 million for 1Q2010, as announced on Bursa Malaysia on May 19.

This is attributed mainly to the sale of property, contract revenue and the annuity interest income arising from the completion and handover of a teachers’ quarters.

KUALA LUMPUR: Tower REIT recorded a net income drop of 8% for 1Q2010 to RM7.115 million from RM7.718 million over the same period last year, Bursa Malaysia announced on May 19.

Meanwhile, the REIT’s gross revenue for 1Q2010 saw a drop to RM11.036 million from RM12.547 million in the same quarter last year, representing a 12% dip.

KUALA LUMPUR: Stop work orders for hill slope developments in Kuala Lumpur remain in force, Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin told theedgeproperty.com on May 19.

KUALA LUMPUR: Kumpulan Europlus Bhd (KEURO) has disposed of 5.21% of equity interest in Talam Corp Bhd (Talam), the former announced on Bursa Malaysia on May 18.

In its announcement, the board of KEURO said it disposed of 134,925,600 ordinary shares of RM0.20 each for net proceeds of RM17,916,697.05 between March 9 and May 12, 2010.

KUALA LUMPUR: Land & General Bhd (L&G) completed the acquisition of 2.6 acres of freehold land in Ampang, Kuala Lumpur, for RM55 million, it was announced on Bursa Malaysia on May 18.

SEREMBAN: The Negri Sembilan government has agreed to give discounts to quit rent defaulters and allow the landowners to pay in installments.

Menteri Besar Datuk Seri Mohamad Hasan said some landowners owed thousands in quit rent for accumulating annual payments, which include fines amounting to 10 times the amount for late payment.