HONG KONG: Hong Kong on Wednesday July 28 auctioned a plot of land for HK$10.4 billion (US$1.3 billion) in its third-most expensive land sale, beating forecasts and adding to fears of a bubble in one of the world's hottest property markets.

KUALA LUMPUR: Eurospan Holdings Bhd posted a net profit of RM359,000 for the financial year ended May 31, 2010 (FYE2010), plummeting by 89.3% from RM3.37 million a year ago on the back of different product mix, higher operating costs and the appreciation of the ringgit.

KUALA LUMPUR: IOI Corporation Bhd, via its subsidiary IOI Properties Bhd, announced that it has acquired Palmy Max Ltd (PML) on Wednesday, July 28.

The company said that it had acquired the entire issued and paid-up capital of PML, comprising one ordinary share of HK$1 (41 sen), and subsequently subscribed to the remaining 9,999 shares in PML.

KUALA LUMPUR: Property developer Mutiara Goodyear Development Bhd is confident to maintain its dividend payment trend despite the
adoption of Issues Committee (IC) Interpretation 15 Agreements.

KUALA LUMPUR: Malaysian Resources Corporation Bhd's subsidiary MRCB Sentral Properties Sdn Bhd has appointed Affin Investment Bank Bhd as the principal adviser and lead arranger for its RM400 million commercial papers/medium term notes (CP/MTN) programme, which will be guaranteed by Danajamin Nasional Bhd.

KUALA LUMPUR: AMDB Bhd has proposed to change its name to Amcorp Properties Bhd, the company said in a filing to Bursa on Wednesday, July 28.

The group's request for the availability of the proposed name has been approved by the Companies Commission of Malaysia, and will seek shareholders approval for the move in their forthcoming 44th annual general meeting.

KUALA LUMPUR: Country View Sdn Bhd has posted a net loss of RM1.8 million for its second quarter ended May 31, 2010 (2Q), against a net profit of RM459,000 a year ago.

Meanwhile, its revenue fell by 43.4% to RM7.16 million from RM12.67 million, the company said on Wednesday, July 28.

Its basic losses per share stood at 1.84 sen, from earnings per share of 0.46 sen a year ago.

HONG KONG: Hong Kong auctioned on Wednesday, July 28 a piece of land for HK$10.4 billion (RM4.28 billion), beating forecasts and adding to fears of a property bubble in one of the world's hottest real-estate markets.

KUALA LUMPUR: Ivory Properties Bhd made an impressive debut on Bursa Malaysia on Wednesday, July 28 and was up 21 sen to RM1.21 at 9.30am. It was also the most actively traded counter with 21.8 million shares done.

AmResearch's fair value is RM1.75 per share pegged to a 35% discount to its estimated net asset value of RM2.70 per share.

GEORGE TOWN: IJM Land Bhd's latest addition to the RM5.5 billion The Light Waterfront project — The Light Collection 1 — with a gross development value of RM203 million has seen a 50% take-up rate even before its official launch this weekend.