Hunza Properties Bhd's pre-tax profit for the fourth quarter ended June 30, 2011 fell to RM10.94 million from RM20.26 million in the same period last year.

Its revenue declined to RM46.79 million from RM73.39 million previously, driven by lower sales and sales mix of the group, it said in a filing to Bursa Malaysia today.

%9Hunza said the decrease was also due to the write-off of RM4.8 million from civil suit between Hunza Parade Development Sdn Bhd and The Kwangtung and Tengchow Association Penang.%9 %9Hunza said it was confident of continuing to record a decent performance in the current year. — Bernama


SOURCE: Business Times

Escape Penang, the up-coming eco-friendly theme park located in Teluk Bahang, Penang. Sim Leisure has been granted the approval from local authorities to start the project and the construction work is planned to begin early September 2011.

The theme park would have five components – fun hotel, water park, active park, animal farm and jungle adventure.

For more details, you can visit Escape Penang website.

A THREE-day carnival will be held at Autocity in Juru, Penang, in conjunction with the National Day.

The 2011 Glanz Merdeka Living Green, Beauty and Health Carnival will be held there from 4pm to midnight daily from Aug 30 to Sept 1.

It is organised by Junior Chamber International (JCI) Butterworth City and managed by Glanz Event Management.The event is endorsed by the Penang Government.

Among the highlights of the carnival are the Miss Glanz beauty contest, a teh tarik competition, a song composing competition and a recycling competition for children.

Organising chairman Alex Tan said there would also be celebrity appearances and performances by Miss World Malaysia 2008 winner Soo Wincci, Bossa Princess Z Yan, singer, songwriter and TV host Gary Yap as well as local singing group Great Empire.

“Our many objectives for the event include raising awareness on living green and to motivate participants to make positive health behaviour changes,” Tan told a press conference in Komtar on Monday.

He said there would be an exhibition featuring more than 30 booths which, among others, would showcase healthcare and lifestyle products, properties and automative supplies.

State Health, Welfare, Environment and Caring Society Committee chairman Phee Boon Poh said more than 500 cyclists had signed up for the National Day Green and Fun Ride Tour 2011 that would take place there on Aug 31.

He said there would also be a countdown event at 11.30pm on Aug 30.

SOURCE: The Star

KUALA LUMPUR: Nadayu Properties Bhd aims to launch three projects worth a combined RM1.5 billion in the Klang Valley and Penang from next month to grow itself and build its branding.

“We are upbeat on the market. We plan to have a good following and grow the company’s net profit and revenue year-on-year.

“We do intend to return dividends to shareholders. I believe overtime, we will have local and foreign funds investing in the company,” Nadayu chairman Hamidon Abdullah said.

Hamidon and Nadayu executive director Alex Cheang control 70 per cent of the company.

Nadayu is launching a RM400 million project in Bandar Sunway called Nadayu28, featuring shoplots and high-rise residential units.

Hamidon expects 10 units of five-storey shoplots to be sold prior to the launch based on the number of bookings it has currently.

In Cyberjaya, Nadayu is launching a RM430 million mixed development by November and the first phase will comprise apartments and terraced houses.

By end-2011, it will launch Nadayu290 in Bukit Gambir, Penang, featuring high-rise residences and commercial space. This is 50:50 joint-venture project with Affin Islamic Bank Bhd.

“In the past, our projects were located in Cheras, Gombak and Selayang. We are now moving to where demand is,” Hamidon said at the company’s shareholders meeting here yesterday.

On the 1.4ha land near Sheraton Imperial Hotel at Jalan Sultan Ismail that Nadayu had planned to buy from UDA Holdings Bhd for RM215.5 million, Hamidon said he is disappointed with the outcome.

Nadayu had formalised the deal with UDA in July and planned to undertake a mixed development worth RM1.2 billion. UDA aborted the deal as it was unable to obtain the approval of its shareholders.

Hamidon said Nadayu is seeking more landbank and may also undertake projects in Penang, involving land reclamation if the opportunity arises.

“As a medium-sized developer, we can pick and choose what we want to do as we have the ability to buy tracts of land. We don’t have to scramble for landbank. If we don’t lose ourselves, we can progress credibly forward,” he said.

SOURCE: Business Times

Idaman Lavender 2 is a medium cost apartment development by Koperasi Tunas Muda located in Sungai Ara, Penang. It comprises single block of 11-storey building with 176 apartment units.

Property Project : Idaman Lavender 2
Location : Sungai Ara, Penang
Property Type : Apartment
Tenure : Freehold
Built-up Area: 750 sq.ft.
Total Units : 176
Developer : Koperasi Tunas Muda Sungai Ara Bhd.
Indicative Price: RM 165,000 onwards