KUALA LUMPUR: IJM Land Bhd entered into a shares sale agreement with existing shareholders of Sova Holdings Sdn Bhd (SHSB) Ong Yeng Tian @ Ong Weng Tian, Ong Seh Choon, Ong Seh Yew, Ong Chiew Gee and Ong Chiew Lee, to acquire from them a total of 210,000 ordinary shares of RM1 each.

KUALA LUMPUR: Datuk Jeffrey Ng Tiong Lip is now the full-time CEO of Sunway REIT Management Sdn Bhd.

Ng was appointed to the post in March 2010 to manage Sunway REIT, which was established on May 20 upon the registration of the Trust Deed with the Securities Commission (SC), stated a release from Sunway Group on May 21.

KUALA LUMPUR: Malaysia Pacific Corp Bhd (MPC) recorded a loss of RM3.255 million for 1Q2010, compared with a loss of RM1.843 million over the same quarter last year. Revenue also dropped to RM2.609 million in the current quarter under review from RM2.699 million in 1Q2009.

KUALA LUMPUR: Ark Resources Bhd notched up a loss of RM116,000 in 1Q2010 compared with a profit of RM491,000 in 1Q2009. Revenue for the group also dropped by 49.2%, with the company garnering RM31,000 in the current quarter under review compared with RM61,000 for the same period last year.

KUALA LUMPUR: Hua Yang Bhd saw 1Q2010 net profit of RM3.288 million, or a 28.14% increase from RM2.566 million over the same a quarter year ago. The revenue for the group increased by 4.2% for 1Q2010, which is RM27.213 million from RM26.116 million over the same period last year.

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.