KUALA LUMPUR: Penang MCA has slammed the state government for concentrating too much on mega-projects and losing sight of the need for affordable homes on the island state. Penang MCA secretary Lau Chiek Tuan said that the construction of low-cost housing had ceased since DAP secretary-general Lim Guan Eng took ... Read More

SHAH ALAM: SP Setia Bhd posted a 30% year-on-year jump in net profit to RM327.97mil for its financial year ended Oct 31, 2011 (FY11). The property developer attributed this mainly to higher selling prices for new launches and the stabilisation in the prices of construction materials. Revenue also increased 27.9% to RM2.23bil ... Read More

Billed as the current government's biggest infrastructure exercise since it assumed office in March 2008, the projects have been tagged at RM8 billion and reportedly conducted via open tender. Chief Minister Lim Guan Eng had said the projects would comprise a third (tunnel) link connecting Gurney Drive on the island ... Read More

Avid cyclists can now have an enjoyable ride on the new eco-bike trail at the Balik Pulau Sports Complex in Penang. Penang Municipal Council Recreation, Tourism and International Affairs director Mohamed Akbar Mustapha said the council spent approximately RM30,000 to put up 51 signboards for cyclists along the 20.5km bike ... Read More

Eastern & Oriental Bhd (Dec 1, RM1.41) Maintain outperform at RM1.39 with revised target price of RM2 (from RM1.98): Although annualised 1HFY12 core net profit was only 30% of our forecast, it is in line as future quarters should be stronger. We make no change to our target basis of ... Read More

GEORGE TOWN: A deal for a developer to redevelop one of the state’s oldest landmarks on Penang Hill — Crag Hotel — appears to have stalled, due to an alleged exclusion of surrounding properties in the hotel’s vicinity.Business Times has learnt that although Sri Nisuh Sdn Bhd had been initially ... Read More

Malaysian Resources Corp, a property and construction group, rose to a two-week high in Kuala Lumpur trading after it won a RM40.3 million contract to carry out coastal protection works in Penang.The stock climbed 2.6 percent to RM1.99 at 9:05 a.m., set for its highest close since Nov. 17. -- ... Read More

CAUCASIANS comprise the bulk of those purchasing the RM255mil Infinity Beachfront Condominium that recently clinched the FIABCI Malaysia Property Award 2011 under the residential (high rise) category. Hunza Properties Berhad executive chairman Datuk Khor Teng Tong said the project attracted Caucasians because it had access to a 105m-long beachfront as ... Read More

That was ended when it roped in Dijaya Corp Bhd. They now plan to build residential and commercial properties on the land, estimated to generate sales of some RM10 billion. This is not their first tie-up. Within the Batu Ferringi tourism belt, Dijaya has a joint-venture project called "10 Island ... Read More

ALONG-AWAITED dream has come true for sistes Yap Siew Bee, 41, and Siew Thoo, 26, who have received a new low medium-cost home. “I am so happy today and I can’t wait to move into our unit when it is completed,” said Siew Bee. Siew Thoo said that previously, their ... Read More