PENANG: The Penang government has opened tender for companies interested in the renovation, refurbishment and management of Hotel Crag in Bukit Bendera here. Chief Minister Lim Guan Eng said the state government intended to redevelop the hotel to attract more tourists, both locals and foreigners, to the hill.

KUALA LUMPUR: Property developer, Mah Sing Group Bhd, posted a 34% higher first quarter pre-tax profit for the period ended March 31 to RM41.713 million from RM31.119 million in the same period in 2009.

KUALA LUMPUR: Bertam Alliance Bhd is optimistic that its high-end bungalow project, Casabella, in Kota Damansara in Petaling Jaya, has soft-launched the project two months ago.

Its Executive Chairman Ng Sing Hwa said the official launch is set for this July.

Bina Puri Holdings
1Q10 results slightly below expectations

PUTRAJAYA: After a 15-year legal battle, seven members of the Temuan tribe will receive RM6.5 million from the federal government as compensation for their native customary land which was taken over to build a highway
to the KL International Airport (KLIA).  

Result within expectation

Highlights:

1QFY10 : Strong start to the year

• Solid results
Sunway reported a 1QFY10 net profit of RM39.9m, inclusive of a derivative gain of RM4.6m arising from the adoption of FRS139. Adjusted net profit of RM35.0m is above expectations, making up 29.8% of house estimates and 30% of consensus estimates. No dividends were declared.

SYDNEY: Australia's construction sector grew at a slower-than-expected pace in the first quarter, as spending by the private sector contracted, backing market expectations that interest rates are on hold this year.

Naim Holdings Berhad

•  Naim’s  1Q10 earnings were  below ours and consensus expectation. Nevertheless, we expect better quarters ahead with continuous contribution from its property division  and recovery from its construction division. 

PETALING JAYA: The government needs to have a review and overhaul of the low-cost housing distribution mechanism to prevent a recurrence of the low-cost housing scandal in Selangor, said Gerakan vice-president A Kohilan Pillay.