KUALA LUMPUR: TA Global Bhd’s net profit for its first quarter ended April 30, 2010 (1QFY11) grew 27% to RM18.56 million, from RM14.62 million the previous year.

The rise was attributed to its increased revenue, which rose 85.8% to RM91.5 million, compared to RM49.2 million a year earlier, following an increase in hotel-related revenue.

KUALA LUMPUR: Lebar Daun Bhd’s construction arm is bidding for several government-related contracts adding to RM500 million located outside of Kuala Lumpur, in line with the government’s effort to implement projects via private finance initiatives (PFI).

KUALA LUMPUR: SOHO China, an up-market commercial property developer in China, has bought a plot of land in The Bund, one of Shanghai’s prime areas, as the company continues to strengthen its foothold in the city.

KUALA LUMPUR: The Works Ministry will submit several proposals on the Parliament building to the Cabinet in two months, its minister Datuk Shaziman Abu Mansor said on Thursday, June 17.

He said the ministry was looking into three proposals while repair works were carried out on the existing Parliament building.

KOTA KINABALU: The Sabah Environment Protection Department (EPD) on Thursday, June 17, clarified that temporary occupation licence (TOL) for sand mining in Sungai Kinabatangan was approved by the state land and survey department last September.

LONDON: Land Securities is selling one of its largest London development projects to Qatari property company Barwa Real Estate for £250 million (US$371 million) as overseas demand for prime UK real estate spirals.

The acquisition of the Park House development on London's Oxford Street is the first major wholly-owned investment made by Barwa in the UK.

WASHINGTON: US housing starts hit a five-month low in May as a homebuyer tax credit expired while wholesale prices remained subdued, giving the Federal Reserve ample room to maintain its ultra-low interest rate policy.

KUALA LUMPUR: OSK Trustees Bhd, the trustee of the proposed Sunway real estate investment trust (SunREIT), yesterday inked a facilities agreement and the security documents in relation to a term loan facility of RM1 billion and a revolving credit facility of RM150 million.

SELANGOR: Mulpha Land Bhd’s (MLB) proposed par value reduction exercise by year-end will place the company on a better footing to raise funds for any expansion, said company officials.

KUALA LUMPUR: The Kampung Baru Malay Agricultural Settlement (MAS) Administrative Council is against the formation of the proposed Kampung Baru Development Corporation if none of the Council members sits in the
Corporation.