KUALA LUMPUR: Magna Prima Bhd saw its profits for the second quarter (2Q) ended June 30, 2010 drop to RM988,000 compared with RM6.53 million recorded in the same period a year ago. Its 2Q revenue fell to RM30.7 million compared with RM72.9 million a year ago.

KUALA LUMPUR: Bina Puri Holdings Bhd has entered into an agreement with the Brunei Economic Development Board on Aug 17 to undertake extensive interior and exterior work on three apartment blocks and its common areas, and turn them into fully furnished serviced apartments in Bandar Seri Begawan, Brunei.

KUALA LUMPUR: Crest Builder Holdings Bhd (CBHB)'s net profit for the second quarter ended June 30, 2010, dipped 24% to RM3.2 million from RM4.2 million a year ago, despite recording higher revenue of RM100.7 million, a 37% increase compared with RM73.7 million recorded a year ago.

KUALA LUMPUR: GTower, the country’s first grade A++ commercial building, is expected to increase its occupancy rate to 70% - 75% from its current rate of 60% by January 2011, said executive director of GTower Sdn Bhd Colin Ng.

KUALA LUMPUR: The slowdown of the construction sector's growth is cause for concern as the total value of new construction projects awarded has been declining for the last four quarters, said Master Builders Association Malaysia (MBAM) president Kwan Foh Kwa on Thursday, Aug 19.

KUALA LUMPUR: Madison@Regalia, a development by Mayland View Sdn Bhd, has seen a take-up rate of 70%, said the company's head of sales and marketing Eddy Tan to theedgeproperty.com.

The freehold development, located on a 2.5-acre tract at the junction of Jalan Kuching and Jalan Sultan Ismail, was launched in 2008.

KUALA LUMPUR: Ativo Plaza, the first launch of Damansara Avenue in Bandar Sri Damansara, has seen a take-up rate of 90% within a day of its priority preview event on Aug 7.

The developer, TA Global, said that the phase comprises 198 office suites and 43 lifestyle retail units in an 8-storey building on a 5.73-acre area, but only the office suites are available for sale.

KUALA LUMPUR: The Master Builders Association of Malaysia (MBAM) has called on the government to speedily award the remaining stimulus package projects and implement 10th Malaysia Plan projects.

SHANGHAI: Shanghai’s key stock index fell for the first time on Aug 18 after four days on concern that the central government might unveil more tightening measures for property developers.

ShanghaiDaily.com reported that the Shanghai Composite Index fell 0.21% or 5.59 points to close at 2,666.30 while turnover was at 128.9 billion yuan (RM34.2 million).

KUALA LUMPUR: The number of local investors buying properties in London has increased significantly since the end of 2009, said an official from Henry Butcher Real Estate Sdn Bhd.

The official said that the increase can be attributed to rising property prices in Singapore and Australia, two popular investment destinations for Malaysians, and the weakened pound sterling.