SHAH ALAM: The Housing and Local Government Ministry should form a unit to monitor the construction of 160 units of flats in Section 25 here.

Deputy Minister in the Prime Minister's Department Datuk T Murugiah said this was necessary as the flats, which should had been ready in 2005 was only 80% completed.

KUALA LUMPUR: Daiman Development Bhd recorded a 154% increase in net profit in 1Q2010 of RM5.102 million compared with RM2.008 million in the same quarter a year ago. Revenue for the group increased by 43% for 1Q with RM28.042 million versus RM19.612 million a year ago.

HONG KONG: Cities in China and India currently offer the most attractive investment potential, particularly in the office and retail sectors, according to DTZ’s annual Money into Property Asia Pacific report.

KUALA LUMPUR: The two tracts for sale in the Kuala Lumpur City Centre (KLCC) Kia Peng area (pictured) have attracted the interest of more than a dozen developers and negotiations are believed to be ongoing for one of the two plots.

KUALA LUMPUR: Prinsiptek Corp Bhd recorded an increase in net profit of 12.7% for 1Q2010 at RM32.548 million versus RM25.591 million for the same period a year ago. Revenue collected for the quarter under review increased by 27.2% at RM32.548 million compared with RM25.591 million in the corresponding quarter a year ago.

KUALA LUMPUR: WCT Bhd recorded a net profit of RM34.948 million for 1Q2010, a drop of 10.9% compared with RM39.223 million over the same period a year ago.

Following suit, its revenue of RM400.120 million for 1Q2010 represented a 58.7% drop from RM968.953 million over the same quarter a year ago.

JAKARTA: A disputed plot of land that housed former Malaysian Ambassador's official residence at No 48, Jalan Kemang Raya, Jakarta was returned to Malaysia by the Indonesian government.

South Jakarta Mayor Shahrul Effendi who handed the letter to Malaysian Embassy's deputy chief of Mission Amran Mohamed Zin said the Indonesian government had cleared the site of illegal settlers.

KUALA LUMPUR: Farlim Group recorded a loss of RM180,000 in 1Q ended March 31, 2010, compared with a net profit of RM1.043 million in the corresponding quarter a year ago.

Revenue dropped by 46.4% during the current quarter under review, with RM13.757 million compared with RM25.665 million in the same period a year ago.

KUALA LUMPUR: Mitraland Group expects its maiden hospitality venture, the All Seasons hotel, to start operations within three years.

To be managed by the Accor Group, the hotel would be the final component in Mitraland’s mixed development called C180 coming up at Batu 11 in South Cheras.

KUALA LUMPUR: Real Estate and Housing Developers' Association (Rehda) Malaysia condemns the acts of governing officials in purchasing low-cost housing meant for low-income groups as reported in a daily newspaper on May 21.