KUALA LUMPUR: The Malaysian Endowment Foundation is building five 3-star hotels on its endowment land in Terengganu, Perak,Melaka, Negeri Sembilan and Kelantan.

Minister in the Prime Minister's Department Datuk Seri Jamil Khir Baharom said on Monday May 17 the hotels, which cost RM100 million each, were expected to be completed between next year and 2012.

KUALA LUMPUR: Salcon Bhd's unit Salcon Engineering Bhd (SEB) secured a RM84.21 million contract from Pengurusan Aset Air Bhd (PAAB), bringing its total order book value to a whopping RM1.3 billion.

The new contract is for the design and build of a water treatment plant and associated work at Sg Labu, Selangor, said Salcon in a statement on Monday May 17.

KUALA LUMPUR: Sunway Creative Stones Sdn Bhd (Abu Dhabi Branch), a 70% owned subsidiary of Sunway Construction Sdn Bhd, which in turn is a wholly-owned subsidiary of Sunway Holdings Bhd has accepted a letter of award for a sub-contract worth AED74.5 million (about RM65.69 million) on May 13.

KUALA LUMPUR: Sunway Geotechnics (M) Sdn Bhd, a wholly-owned subsidiary of Sunway Construction Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway Holdings Bhd has on May 17 accepted the letter of award for a RM88 million contract from Sunway City Bhd (SunCity).

KUALA LUMPUR: JPK Holdings Bhd, a manufacturer of precision plastic injection moulded parts is selling off 40 of its properties at a total value of RM5.12 million.

Its unit JPK (Malaysia) Sdn Bhd had on May 14 entered into sale and purchase agreements with respective purchasers for the disposal of the properties, it said in a listing on Bursa Malaysia on Monday May 17.

KUALA LUMPUR: OSK Property Holdings Bhd saw its net profit for the first quarter ended March 31, 2010 (1Q FY2010) drop 29.25% to RM1.88 million, from RM2.66 million the previous year due to higher selling and marketing expenses incurred during the period.

KUALA LUMPUR: Bina Puri Holdings Bhd has been awarded a RM306.9 million contract to build a Universiti Teknologi Mara (UiTM) campus in Kota Samarahan, Sarawak.

KUALA LUMPUR: MBM Resources Bhd has awarded a RM6.65 million construction contract to Pembinaan Teknikhas Sdn Bhd.

Its 86%-subsidiary Federal Auto Holdings Bhd had on May 17 issued the award letter to Pembinaan Teknikhas to build a 6-storey annex to the existing Volvo 3S (sales, service and spare parts) centre in Temasya Industrial Park, Shah Alam.

KUALA LUMPUR: Penang-based property developer Asas Dunia Bhd made a net profit rose to RM3.7 million in its first quarter ended March 31, 2010 (1QFY10), versus a net loss of RM653,000 the previous year on higher revenue.

KUALA LUMPUR: HwangDBS Investment Management Bhd (HwangDBS IM) has declared a gross interim income distribution of 0.75 sen for its HwangDBS Global Property Fund (GPF) for the financial period ending May 31, 2010.