KUALA LUMPUR: Several dromant subsidiaries of IGB Corporation will be undergoing a member’s voluntary iquidation exercise. 

The subsidiaries are Ipoh Garden Shopping Complex Sdn Bhd, K Parking Sdn Bhd, Mid Valley City Residences Sdn Bhd, Express Management Consultants Sdn Bhd, Pinex Sdn Bhd, T-Bond Construction Sdn Bhd and Teamwork M&E Sdn Bhd.

KUALA LUMPUR: Paramount Corporation Bhd (PCB) has recorded a net profit of RM15.69 million for 1Q 2010, an increase from the previous corresponding quarter of RM8.99 million. Revenue for 1Q2010 was RM102. 3 million compared with the preceding year’s corresponding quarter of RM83.4 million.

KUALA LUMPUR: Datuk Ng Tiong Lip, better known as Datuk Jeffrey Ng, 53, has resigned as an executive director  at Sunway City Bhd (SunCity) effective May 20, said a Bursa Malaysia announcement on the same day. 

The former Managing Director of Asia Pacific Land Berhad was appointed to the Board of SunCity on March 3, 2008. 

KUALA LUMPUR: LBI Capital Bhd (LBI), through its subsidiary Goldmount Resources Sdn Bhd (GRSB) has entered into a sales and purchase agreement on May 19 to acquire a 10.25-acre vacant leasehold land in Selangor from Sanjung Hemat Sdn Bhd and Permodalan Negeri Selangor Bhd for RM6.096 million.

KUALA LUMPUR: Equine Capital Bhd has recorded a net loss of RM25.84 million against in its first quarter ended March 31, 2010 against a net loss of RM20.41 million in the corresponding quarter in 2009.

Revenue in the quarter under review is RM25.3 million compared with the previous corresponding quarter's RM12.14 million.

SINGAPORE: The asset bubble in China is no longer a major economic risk on the back of tightening policies, David Wong chief economist at Shui On Land was quoted as saying at the Cityscape Asia 2010’s  keynote session on the economic outlook for China.

KUALA LUMPUR: UK home prices are expected to rise 1% per annum this year and next year, Cluttons Research said in its May 2010 residential property forecasts report.

KUALA LUMPUR: Mulpha International Bhd recorded a profit after tax of RM49.15 million and revenue of RM147.87 million for the first quarter ended March 31, 2010 compared with a loss of RM9.5 million and revenue of RM142.43 million in 1Q 2009.

SHANGHAI: Downward pressure is expected on China’s soaring home prices should the Chinese government deepens tightening policies meant to curb investment and speculative demand, according to Colliers International latest Shanghai Research Bulletin.