KUALA LUMPUR: Australia-based StayWell Hospitality Group will operate a four-star hotel at integrated development Taragon Puteri KL, located next to Berjaya Times Square on Jalan Imbi, Kuala Lumpur.

The Park Regis KL is expected to begin operations in January 2011. Apart from the hotel, Taragon Puteri KL will also feature serviced residences and limited retail lots.

KUALA LUMPUR: IOI Corporation Bhd posted a pre-tax profit of RM2.55 billion for its financial year ended June 30, 2010 (FYE 2010), up 65% from RM1.55 billion recorded in the previous year.

LANGKAWI: Various quarters, including residents in Langkawi, are against the proposed bridge between the island and Kuala Perlis.

They agree with former prime minister Tun Mahathir Mohamed that the project can erode the island's unique features as a tourist destination.

KUALA LUMPUR: Demand for office investment in the Asia Pacific region is expected to strengthen further, underpinned by low interest rates, faster rental growth and institutional investors making a comeback, said international real estate consultancy Colliers International.

HONG KONG: Strong growth is expected in Hong Kong office rental market over the next 12 to 18 months and rents will increase as office space availability decreases amid fast absorption of prime office space, according to Knight Frank's latest Hong Kong Prime Office report.

Bina Puri Holdings
2Q10 results within expectations

BEIJING: Chinese property developers are facing strained cash flows and will be forced to cut prices beginning in the fourth quarter, a state newspaper reported on Tuesday, Aug 24, citing several bankers.

KUALA LUMPUR: Plenitude Bhd recorded its highest ever revenue and profit levels for its financial year ended June 30, 2010 (FYE 2010), posting a net profit of RM84.19 million for the year, up 5.5% from RM79.78 million in FYE 2009.

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) posted a pre-tax profit of RM7.7 million for its second quarter (2Q) ended June 30, 2010 on the back of a revenue of RM 46.6 million.

For the preceding quarter, AP Land recorded a loss of RM3.3 million on the back of a revenue of RM 15.6 million, the company said in a filing to Bursa on Monday, Aug 23.

KUALA LUMPUR: Bina Puri Holdings Bhd posted net profit of RM3.14 million for the second quarter ended June 30, up 100% from RM1.56 million a year ago, underpinned by its construction division.

It said on Monday, Aug 23 that revenue rose 43.6% to RM267.71 million from RM186.31 million.  Profit before tax was RM4.37 million compared with RM2.46 million.