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Tower REIT registers net profit of RM7.3m

KUALA LUMPUR: Tower Real Estate Investment Trust (Tower REIT) registered a lower net profit of RM7.3 million for the second quarter ended June 30, 2010 (2QFY2010), from RM7.7 million the previous year, caused by a drop in average occupancy rate of Menara HLA after two long-term anchor tenants moved out of the building.

22 July, 2010
Zelan's MD resigns

KUALA LUMPUR: Zelan Bhd managing director Raja Azmi Raja Nazuddin resigned from the company.

In a filing to Bursa Malaysia on July 22, the property developer said the 43-year-old will resign on July 30. It has yet to name the successor.

22 July, 2010
Atrium REIT's y-o-y net profit up 152%

KUALA LUMPUR: Atrium Real Estate Investment Trust's (Atrium REIT) net profit rose 152.5% to RM2.56 million for the second quarter ended June 30, 2010 (2QFY2010) from RM1.01 million a year ago, despite that revenue showed a slower increase.

22 July, 2010
UOA REIT y-o-y net profit down 12.65%

KUALA LUMPUR: UOA Real Estate Investment Trust (UOA REIT) registered a drop of 12.65% in its net profit to RM6.6 million in its second quarter ended June 30, 2010 (2QFY2010) from RM7.6 million a year earlier, on lower revenue.

22 July, 2010
Tower REIT apoints Yeow as non-independent non-executive director

KUALA LUMPUR: Tower Real Estate Investment Trust (Tower REIT) appointed Yeow Wai Siaw as its non-independent non-executive director.

The trust announced the appointment of the 45-year-old in a filing to Bursa Malaysia on Thursday, July 22. Yeow has been also the managing director and executive director of Guocoland (Malaysia) Bhd since June 16.

22 July, 2010
RICS appoints first non-British president

KUALA LUMPUR: The Royal Institution of Chartered Surveyors (RICS) Governing Council based at Parliament Square, London has named RICS Asia chairman Ong See Lian as its president-elect and president.

This appointment makes Ong the first non-British person to take up a leadership position in RICS in its 140-year history.

22 July, 2010
MRCB assisting EPF in RRI land masterplan, says RHB Research

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) is helping its parent company, the Employees Provident Fund (EPF), to prepare the masterplan to develop the Rubber Research Insitute (RRI) land in Sungai Buloh, according to a report by RHB Research Institute yesterday.

22 July, 2010
Centrio at Pantai Hillpark completed

KUALA LUMPUR: YTL Land & Development Bhd recently completed Centrio, a mixed commercial development with mainly SoHo (small office/home office) apartments in the Pantai area in Kuala Lumpur.

22 July, 2010