KUALA LUMPUR: A combination of a stronger ringgit and the depressed economy in some regions have prompted IGB Corp Bhd to go on an acquisition trail.

IGB is planning on expanding its hospitality division by acquiring distressed hotels overseas, said its group managing director Robert Tan.

Selangor Dredging
FY10 net profit within expectations

PUTRAJAYA: Transport Minister Datuk Seri Ong Tee Keat said on May 26 the Keretapi Tanah Melayu Bhd (KTMB) land in Singapore has not been developed previously due to land use restrictions.

KUALA LUMPUR:  There is a high correlation between poor ventilation in a building with the Sick Building Syndrome (SBS), according to a study by Malaysian researchers.

KUALA LUMPUR: Colliers International has opened two new offices – Shanghai Pudong Branch Office and Hangzhou Representative Office – in the Yangtze River Delta region in the second quarter this year.

Colliers Pudong branch office, established in Mirae Asset Tower aims to provide financial institutions with full-spectrum services of the property sector.

KUALA LUMPUR: Country Heights Holdings Bhd’s net profit rose 90.62% to RM9.043 million in its first quarter ended March 31, 2010 from a net loss of RM4.744 million from the same period last year.

Its revenue increased by more than 100% to RM66.060 million from RM32.839 million in the same period last year.

KUALA LUMPUR: Metro Kajang Holdings Bhd’s net profit eased 91% to RM682,000 in its second financial quarter ended March 31, 2010 from RM7.86 million in the same period last year.

The Group’s revenue for the current quarter decreased by 21% to RM63.0 million compared with RM79.7 million in the preceding year’s corresponding quarter.

KUALA LUMPUR: Kumpulan Hartanah Selangor Bhd posted a higher net profit of RM1.455 million in its first quarter ended March 31, 2010, a 188% increase from a net loss of RM12.810 million in the same period last year.

KUALA LUMPUR: IJM Land Bhd's net profit dipped 18% to RM21.876 million in its 4Q FY2010 ended March 31, 2010 against RM26.698 million in the same quarter last year.

Revenue improved to RM245.69 million from RM226.05 million in the preceding year’s corresponding quarter mainly attributable to better sales mix achieved in the group’s on-going projects.

KUALA LUMPUR: Bedford Land Sdn Bhd (BLSB), an indirect wholly-owned subsidiary of GuocoLand (Malaysia) Bhd has entered into a sale and purchase agreement with RHB Hartanah Sdn Bhd (RHBH) for the disposal of its 50% equity interest in Positive Properties Sdn Bhd (PPSB) for a cash consideration of RM35 million. RHBH is the holder of the remaining 50% equity interest in PPSB.