LONDON: British construction activity fell at its slowest pace in 23 months in January, a survey showed on Feb 2, as firms shed jobs at a reduced pace and confidence improved, but a fall in orders showed conditions remain tough.

The Chartered Institute of Purchasing and Supply and Markit said their construction PMI index rose to 48.6 in January from 47.1 in December.

KUALA LUMPUR: Hektar Real Estate Investment Trust (REIT)’s fourth quarter profits for the financial year ending Dec 31, 2009 dropped 70% to RM9.57 million from RM32.63 million in the same period a year ago, according to a statement to Bursa Malaysia.

KUALA LUMPUR: The Ministry of Housing and Local Governments expects the rate of successful applications for development plans to increase to 95% from 89.3% currently if its newly launched One Stop Centre (OSC) Online is effectively implemented.

KUALA LUMPUR: Main board-listed Malton Bhd has appointed Chong Wan Ping, 53, as its managing director (MD), according to the company in a statement to Bursa Malaysia On Feb 3.

The company did not have a position for a MD before this, according to its website.

BANGI: The Education Ministry on Feb 2 reminded contractors of 45 ailing projects under the ministry to complete them on schedule or risk being blacklisted.

Deputy Education Minister Dr Mohd Puad Zarkashi said so far five contractors had been blacklisted while 23 were in the process of being blacklisted.

KUALA LUMPUR: OSK Research has named Cahya Mata Sarawak (CMS), Hock Seng Lee (HSL) and Naim Holdings as key beneficiaries of greater job flows in Sarawak ahead of state elections by end-2010 or early 2011.

The reason being that jobs in the state are usually awarded to homegrown contractors.

KUALA LUMPUR: The residential property market is expected to thrive this year as it rides on the surge in demand, particularly in the medium-high segment, says MIDF Amanah Investment Bank Bhd.

KUALA LUMPUR: Main board-listed Hunza Properties Bhd’s profits for its second quarter financial year ending June 30, 2010 surged 83% to RM12.95 million from RM7.06 million in the same period a year ago.

KUALA LUMPUR: Main board-listed Naim Holdings Bhd appointed new executive directors (ED) to lead the company on Feb 2 after one of its EDs and another deputy managing director (MD) resigned, according to a statement to Bursa Malaysia.

HONG KONG/SHANGHAI: The property investment arm of Morgan Stanley is in final talks to sell an apartment complex in China to a unit of Singapore's Keppel Land, sources close to the deal said on Feb 2.

The overall value of the property is estimated at about 900 million yuan (RM444.32 million).