YNH Property rebounded

THE overnight rebound of 176.72 points on the Wall Street coupled with the better performances on the regional stock markets sent Bursa Malaysia rebounding higher yesterday. Its overall advancing counters out-paced its declining counters by 463 to 301. YNH Property Bhd staged a technical rebound yesterday. Its daily price trend closed at RM2.70, giving a day-on-day gain of 4 sen, or 1.50 per cent. Chartwise, YNH Property's daily price trend fell from its intra-day high of RM2.90 on January 15 all the way down to its intra-day low of RM2.60 on January 22, posting a total loss of 30 sen, or 10.34 per cent. Its daily price trend continued to trend above its intermediate-term uptrend (B1:B2). However, its short-term price trend is attempting to stage a re-test of the support of its uptrend support (B1:B2).YNH Property's daily price trend is likely to stage a re-test of its uptrend support (B1:B2). Further, its daily price trend will continue to consolidate further.

(30-1-2008 New Straits Times)

Boustead exercising option on two estates

PETALING JAYA: Boustead Holdings Bhd is exercising its first call option to buy back two oil palm estates totalling 3,771ha located in Tasek Glugor, Penang, and Pekan, Pahang, from Golden Crop Returns Bhd (GCRB) for at least RM110mil. The two estates were part of a sale and leaseback agreement between Boustead and GCRB in which the former had sold and subsequently leased back the estates for up to three, five and seven years. The exercise was to facilitate the securitisation transaction involving the issuance of RM442mil Sukuk al-Ijarah by GCRB and an RM300mil Musyarakah facility obtained from Lembaga Tabung Angkatan Tentera. To improve the performance of the fund, chairman of Boustead REIT Managers Sdn Bhd Tan Sri Lodin Wok Kamaruddin said in a statement a combination of strategies - existing plantations to be managed for maximum returns and selected plantation assets will be acquired - would be adopted.

(30-1-2008 The Star)

SP Setia’s RM1b Sabah foray

PETALING JAYA: SP Setia Bhd is making its entry into Sabah with a mixed residential and commercial property project in Tanjung Aru with a gross development value (GDV) at RM1 billion. SP Setia group managing director and chief executive officer Tan Sri Liew Kee Sin said the project “gives us a crucial stepping stone to springboard the SP Setia stable of brands into Sabah and capitalise fully on the state’s anticipated economic boom”. He said the expansion into east Malaysia was part of the group’s aim to diversify its geographical concentration into other high growth states in Malaysia as well as international markets. “Aeropod @ Tg Aru will be modelled after the creative hybrid commercial projects that we have launched such as Setia Walk and Setia Nexus 1 in the Klang Valley,” he said.

(30-1-2008 The Edge)

Kota Kinabalu Waterfront development unveiled

KUALA LUMPUR: Waterfront Urban Development Sdn Bhd (WUD) has unveiled its RM500 million Kota Kinabalu City Waterfront (KKCW), an integrated mixed seafront development situated on the waterfront of Kota Kinabalu. In a statement yesterday, it said the development would be done in collaboration with the Kota Kinabalu City Council (DBKK) within the Sabah Development Corridor (SDC). Prime Minister Datuk Seri Abdullah Badawi witnessed the signing of the tripartite agreement between WUD, Kuwait Finance House (Malaysia) Bhd and a consortium of Middle Eastern and Malaysian investors.

(30-1-2008 The Edge)

Launch of corridor heralds new era for Sabah

KOTA KINABALU: A total of RM105bil in investments, 900,000 jobs, a waterfront city, tourism projects and a RM600mil new Sabah Railway terminal ? these are among the things Sabahans will get when the Sabah Development Corridor (SDC) is completed in 18 years.

Five key thrusts of the SDC, which will be to:

1. make Sabah the gateway for trade, investment and tourism in the region.
2. transform the state into a harmonious and prosperous state regardless of race or religion.
3. make the state more technology-savvy to ensure a better quality of life.
4. provide job opportunities in the state.
5. make Sabah a comfortable state to live in with good quality of life accentuated with diverse cultures, heritage and environment.

(30-1-2008 The Star)

Launch of corridor heralds new era for Sabah

KOTA KINABALU: A total of RM105bil in investments, 900,000 jobs, a waterfront city, tourism projects and a RM600mil new Sabah Railway terminal these are among the things Sabahans will get when the Sabah Development Corridor (SDC) is completed in 18 years.

Five key thrusts of the SDC, which will be to:

1. make Sabah the gateway for trade, investment and tourism in the region.
2. transform the state into a harmonious and prosperous state regardless of race or religion.
3. make the state more technology-savvy to ensure a better quality of life.
4. provide job opportunities in the state.
5. make Sabah a comfortable state to live in with good quality of life accentuated with diverse cultures, heritage and environment.

(30-1-2008 The Star)

Sabah nets 13 deals in minutes

KOTA KINABALU: One of the agreements was between the state Infrastructure Development Ministry and SP Setia Bhd for the redevelopment of the 20ha Sabah Railway terminal in Tanjung Aru near here based on the KL Sentral model utilising RM600mil under the Private Finance Initiative concept. The others included:

1. THE development and promotion of Sabah as a meeting, incentive and exhibition (MICE) destination by Yayasan Sabah, Carlota’s Borneo Holidays Sdn Bhd and East West Executive Travellers Ltd of Singapore;
2. THE setting up of a bulking facility at the Palm Oil Industry Cluster (POIC) in Lahad Datu by POIC Sabah Sdn Bhd, PMB and POIC Bulking Sdn Bhd;
3. CONSTRUCTION of the Kota Kinabalu City Waterfront Development project by the Kota Kinabalu City Hall, Waterfront Urban Development Sdn Bhd, Intonasi Sdn Bhd and Kuwait Finance House (Malaysia) Bhd; and
4. THE provision of fish-landing facilities in Tawau, Sandakan and Lahad Datu by Innoprise Corporation Sdn Bhd, Felda and WTC Marine Ventures Sdn Bhd.
The eight MoUs inked yesterday were for:
1. THE establishment of a health and medical tourism centre by Borneo Eco Healing Centre and US-based Ariana Cosmetic Surgery and Laser Centre;
2. THE construction of condominium complexes and five-star hotels by Suria Capital Holdings Bhd, IJM Bhd, Pavilion International and Glomac Bhd;
3. THE development of tourism centres, townships and an SME Park by the Sabah Economic Development Corporation (Sedco) and Longyuan Construction Group Co of China;
4. A project in the POIC by Sawit Kinabalu and Sime Darby Sdn Bhd;
5. THE production of crude Jatropha biodiesel fuel by Sabah Land Development Board, Nihon Biotec Inc of Japan, Kelana Stabil (M) Sdn Bhd, Jadora LLC and TKM Resources Sdn Bhd;
6. AN agrotourism project as well as an orang-utan rehabilitation project at Ulu Segama in Lahad Datu by the Sabah Forestry Department and Sime Darby Plantations Sdn Bhd;
7. THE development of aquaculture at Darvel Bay in Lahad Datu by the Sabah Ministry of Agriculture and Food Industry and Dubai-based Semakan Group; and
8. A proposed Jatropha curcas research and development and seeds production centre by the Sabah Land Development Board and Borneo Alam Ria Biomatrix (Sabah) Sdn Bhd.

(30-1-2008 The Star)

SP Setia in maiden Sabah venture

MALAYSIA'S most valuable property company, SP Setia Bhd, has unveiled plans for its first venture in Sabah, a RM1 billion mixed development project in Tanjung Aru. Under the agreement, SP Setia will build a transport terminal and new headquarters and ancillary buildings of Jabatan Keretapi Negeri Sabah on part of 24 hectares near the Tanjung Aru township and the Kota Kinabalu International Airport. In return, it will have the rights to develop the balance of 17ha into a mixed residential and commercial project, named Aeropod @ Tg Aru. The project will have a shopping mall, a five-star as well as a three-star hotel, and residential condominiums, among other developments.

(30-1-2008 New Straits Times)

Subang Terminal 3 refurbishment 'in the works'

SUBANG SkyPark Sdn Bhd is expected to announce next month the award of major refurbishment works to Terminal 3 of Subang airport, currently catering to Firefly and Berjaya Air passengers. Last month, the government had awarded Subang SkyPark a 59-year lease through Malaysia Airports Holdings Bhd to undertake the transformation of Terminal 3 into an ultra-modern general and corporate aviation hub. Covering 9,000 sq ft, the international standard but locally designed SkyLounge is expected to be ready by the end of March 2008.

(30-1-2008 New Straits Times)

QSR to spend RM20m on new Pizza Hut, KFC outlets

FAST food chain operator QSR Brands Bhd plans to open 20 new outlets this year to further strengthen its lead in the segment, and at the same time help boost the group's earnings for 2008. At present, its brands such as Pizza Hut commands 70 per cent of the pizza market in Malaysia while KFC Holdings Malaysia Bhd which is 43 per cent owned by QSR has over 460 quick service outlets in Malaysia, Singapore, Brunei and Cambodia. In the first nine months ended September 30 2007, QSR recorded a net profit of RM48.8 million on a revenue of RM339 million.

(30-1-2008 New Straits Times)