KUALA LUMPUR: Glomac Bhd, via its newly acquired unit Berapit Properties Sdn Bhd, has entered into a sale and purchase agreement (SPA) to acquire a 7-acre tract of land representing a part of an enterprise lot in Selangor for a consideration of RM27.44 million.

KUALA LUMPUR: Fountain View Development Bhd (FVDB) has proposed extra internal restructuring in an effort to streamline its organisational structure and assets, and achieve more operational efficiency via direct control over its assets.

KUALA LUMPUR: Property developer I-Bhd has posted a net profit of RM286,000 for the second quarter (2Q) ended June 30, 2010, from a loss of RM1.62 million a year ago, it announced on Bursa Malaysia on Monday, Aug 30.

Revenue also surged to RM2.89 million from RM173,000 a year ago.

KUALA LUMPUR: Metro Kajang Holdings Bhd has posted a net profit of RM3.9 million for the third quarter (3Q) ended June 30, 2010, down 72.9% from RM14.43 million a year ago on the back of lower profit contribution from the property and construction division after the completion of certain ongoing projects.

KUALA LUMPUR: Ranhill Bhd posted a net loss of RM21.06 million for the fourth quarter (4Q) ended June 30, 2010 from a net profit of RM205.26 million a year ago, it announced on Bursa Malaysia on Monday, Aug 30.

KUALA LUMPUR: Muhibbah Engineering’s unit Muhibbah Engineering (Singapore) Pte Ltd has been awarded a contract for the proposed offshore marine centre at Tuas South Avenue 8, Singapore, by Jurong Town Corporation for SG$53.8 million (RM124.4 million).

KUALA LUMPUR: Muhibbah Engineering (M) Bhd saw its net profit decline by 23% to RM10.78 million from RM14.14 million a year ago for its second quarter ended June 30, 2010 (2Q).

The decline in net profit was on the back of a 20% drop in revenue of RM463.28 million in 2Q compared with RM580.6 million a year ago, it announced on Bursa Malaysia on Monday, August 30.

KUALA LUMPUR: The Malaysia Accounting Standards Board (MASB) has deferred the implementation of the IC Interpretation 15 Agreements for the Construction of Real Estate (IC 15) from July 1, 2010 to Jan 1, 2012.

KUALA LUMPUR: Al-‘Aqar KPJ real estate investment trust (REIT) posted a net profit of RM10.94 million for the second quarter (2Q) ended June 30, 2010, up 21.4% from RM9.01 million a year ago, it announced on Bursa Malaysia on Monday, Aug 30.

Meanwhile, revenue increased by 20% to RM17.21 million from RM14.3 million a year ago.

KUALA LUMPUR: A preview of Mah Sing Group Bhd's Kinrara Residences has attracted over 1,000 visitors mainly from the nearby Bandar Kinrara Puchong held at its sales gallery over the weekend of Aug 28 and 29.