KUALA LUMPUR: General Corporation Bhd posted a net profit of RM22.6 million for its first quarter result for the financial year ending Jan 31, 2011 (1QFY2011), an increase of 96.5% from RM11.5 million net profit in the same quarter a year ago.

KUALA LUMPUR: Gula Perak Bhd is proposing to dispose of two land parcels in Batang Berjuntai, Selangor and Setapak, Kuala Lumpur to Perth International Limited, a company incorporated in Hong Kong for a total cash consideration of RM25.1 million.

SINGAPORE: Singapore’s morning traffic was disrupted on Friday, June 25, after a heavy downpour flooded many parts of the island, and fallen trees blocked roads leading to the city.

Traffic along the Bukit Timah road towards the city stood still for few hours after a stretch of the road was flooded, while in other places, traffic had to be diverted.

KUALA LUMPUR: Mah Sing Group Bhd plans to launch two new projects – Icon Residence Mont’Kiara and M Suites @ Jalan Ampang - in the second half this year, its managing director and chief executive officer Tan Sri Leong Hoy Kum said on Friday, June 25.

KUALA LUMPUR: Reapfield has won the Real Estate Agency of The Year Award from the Malaysian Institute of Estate Agents (MIEA) National Real Estate Awards 2010. The award, which Reapfield has won for the second consecutive year, will be presented during the MIEA Annual Dinner on Friday, June 25.

IJM Land - Disposes Of Aeon Bandaray

Bagging the big one

HONG KONG: Rents in mass residential housing in Hong Kong have surged more than 20% in the past year and the trend is likely to continue, according to property agents.

Monthly rents at 100 selected housing estates averaged HK$18.40 (RM7.70) psf in May, according to data compiled by Midland Realty.

3Q10  result  was  within  expectation.  The cumulative  net  profit  of  RM204.1m  (36%yoy) accounted  for  75%  of  our  full  year  forecast  of RM269.5m.