KUALA LUMPUR: Gamuda Bhd’s third quarter net profit for the financial year ending July 31, 2010 (3QFY2010) increased 57.7% to RM73 million from RM46.3 million a year earlier due to higher contributions from all divisions.

KUALA LUMPUR: IJM Land Bhd is proposing to dispose of its 100% stake comprising 250,000 ordinary shares at RM1 each to ADF Tiger III Limited, a foreign fund incorporated in Bermuda for RM66.26 million.

KUALA LUMPUR: Burst pipe caused part of a ceiling at the Kuala Lumpur Court Complex in Jalan Duta here to collapse again on June 24. This is the recurrence of a similar incident at the complex shortly after it opened three years ago.

SHAH ALAM: The country’s tech-based property development, i-City, will work with the Ministry of Tourism (MoT) to bring more events to i-City in order to make it a more attractive tourist destination.

KOTA KINABALU: A state assemblyman has suggested that property developers undertaking projects in her constituency set up a special fund to help people who become victims of natural disasters triggered by the construction at their sites.

HONG KONG: More than 800 Home Ownership Scheme flats in Tin Shui Wai that were originally scheduled for sale this month have been held back because of a row over management fees between the government and the owners' committee of the estate.

HONG KONG: The government says land leases enjoyed by private clubs, which paid little or no premium for their land and are charged only a nominal rent, are outdated and need to be evaluated when they come up for renewal soon.

HONG KONG: US real estate firm LaSalle Investment Management said it has hired Mark Gabbay as chief investment officer for Asia Pacific.

Before joining LaSalle, Gabbay was in Asia for more than 12 years, most recently at Nomura Holdings. Before that he worked for Lehman Brothers as managing director and co-head of real estate for Asia Pacific.

KUALA LUMPUR: Syarikat Prasarana Negara Bhd (Prasana) hopes to start the first phase of construction for the Light Rail Transit (LRT) extension for both the Kelana Jaya and the Ampang lines by this year-end, Prasana managing director Datuk Idrose Mohamed said during a media briefing on Thursday, June 24.

The construction is expected to be completed in three years.

KUALA LUMPUR: Permodalan Nasional Berhad (PNB), Malaysia's largest fund manager, will conduct a study on the government's plan to redevelop Kampung Baru, the only Malay heartland in metropolitan Kuala Lumpur.