KUALA LUMPUR: Construction group Ken Holdings Bhd posted a net profit of RM1.79 million in its second quarter ended June 30, 2010 (2Q), up 54% from RM1.16 million a year ago on the back of higher profit margins recorded during the current quarter.

Similarly, its profit before tax (PBT) rose 46% to RM2.4 million from RM1.65 million, the company said on Monday, July 26.

The company said on Monday, July 26 the marginal increase in net profit was despite a 32.3% decline in revenue to RM33.81 million from RM49.98 million a year ago.

KUALA LUMPUR: Residential housing across the country is set to see an incoming supply of 535,665 units as of 2Q 2010, according to preliminary property stock data for 2Q2010 by the Finance Ministry's Valuation and Property Services Department's National Property Information Centre (NAPIC).

BANGKOK: Impiana Hotels, Resorts and Spas, which is part of the Impiana Group, has officially opened its six-star boutique resort Impiana Private Villas in Kata Noi, Phuket, Thailand.

Ko Shiou Hee began his career with Morphosis, then moved on to Kohn Pederson & Fox, followed by IM Pei in the US, before returning to Asia. He then spent two years in Tokyo as a design consultant.

BEIJING: The total outstanding loans from major financial institutions to China's property market climbed 40.2% as of end of June compared to one year earlier, said the People's Bank of China (PBoC).

Xinhua, quoting the central bank, reported that the figure was lower by 4.1 percentage points compared to the figure at the end of March.

KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB), stabilising manager for Sunway Real Estate Investment Trust (SunREIT), has purchased 150,000 units in the latter for 89 sen to 89.5 sen apiece, it announced on Bursa Malaysia on Monday, July 26.

The purchase was made in relation to the initial public offering of 1.65 million new units representing undivided interest in the REIT.

Amanah Raya REITs
Diversified portfolio anchors ARRB’s growth.

KUALA LUMPUR: Despite the hype about real estate investment trusts (REITs) and the listing of two mega REITs this month alone — Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT) — their performance on Bursa Malaysia so far has been unexciting.

KUALA LUMPUR: En route to a listing on the Main Market of Bursa Malaysia Securities soon, Tambun Indah Land Bhd (TILB) plans to undertake 12 property development projects in Penang with an estimated gross development value (GDV) of RM1.05 billion.