New Development: Taman Impian Putra

Usahama PNSB Dengan Dasar Biringin S/B

Putra Impiana offers value for money, says developer

PETALING JAYA: The property market in Puchong is booming with an increasing demand for landed properties, particularly high-end ones. According to the developer of Taman Putra Impiana, Usahasama Utama Sdn Bhd, its properties there have been enjoying good capital appreciation. “For instance, the value of the units in Phase 1 have increased by 15% since their launch in 2006, and are expected to rise by a further 15% by year-end,” Ronnie Wong, head of operations told theSun. Phase 1 of Taman Putra Impiana is sold out, while Phase 2 has achieved a take-up of more than 95%. To date, more than 20% of the 80 units in Phase 3 have been sold since its launch in mid-January. Future phases will include terraced houses, shop lots and low-rise medium cost apartments. It is scheduled for completion within the next three to four years with a gross development value of RM231 million.Read more

(The Sun 19-2-2008)

Kota Selat inks Danga Bay project deal

KUALA LUMPUR: Kota Selat Tebrau Sdn Bhd has inked a letter of intent (LoU) to develop residential apartments with Singapore-based Oakwood Asia Pacific Pte Ltd, in Danga Bay, Johor. Under the LoU, the parties will enter into a management agreement, offshore technical service and marketing agreement and trademark licence agreement. Construction will start in April. - Bernama

(The Star 19-2-2008)

SEGi sharply reduces bank debts

PETALING JAYA: SEG International Bhd (SEGi), which sold its flagship campus in Kota Damansara to AmanahRaya Real Estate Investment Trust last year, has reduced its bank borrowings to 20% of equity from 100% previously. It sold the college for RM145mil with an agreement to lease back the property for 15 years. SEGi is the owner of SEGi College Malaysia, which itself is a consolidation of the Systematic and Prime education groups. "We are targeting student growth of between 15% and 20% this year" - DATUK CLEMENT HIISEGi chief executive officer Datuk Clement Hii said this was achieved after the consolidation of the group, which started in 2006, and the sale of the Kota Damansara campus. Read more

(The Star 19-2-2008)

Al-'Aqar KPJ REIT may double in size

THE Al-'Aqar KPJ REIT, the world's first Islamic healthcare property trust, may buy more hospitals in Malaysia and abroad to double its size.It has bought 11 hospitals from KPJ Healthcare Bhd for about RM631 million so far. It may buy the remaining seven that KPJ has in Malaysia this year, said Datin Paduka Siti Sa'diah Sheikh Bakir.Al-'Aqar may even buy the six hospitals that are operated by KPJ overseas, she said."When we explained to them (the hospital owners), it opened their mind," said Sa'diah, managing director of KPJ Healthcare and a director of Damansara REIT Managers Sdn Bhd, which manages Al-'Aqar.KPJ operates three hospitals in Indonesia, two in Jeddah and one in Dhaka.Having a REIT has helped KPJ grow faster, Sa'diah said. The company may also reduce its debt and hike dividend payouts."We are asset light, we can spend (to expand)," she said.KPJ holds about 48 per cent of Al-'Aqar.Read more

(New Straits Times 19-2-2008)

HSL buying Mukah land for shipyard ops

KUCHING: Hock Seng Lee Bhd (HSL) will buy industrial land in Bandar Baru Tanjung Manis in Mukah Division for RM9.5mil to diversify into ship fabrication, maintenance and repair services. The company accepted the offer to acquire the 19.6ha from landowner Sarawak Timber Industry Development Corp (STIDC) at a ceremony witnessed by Sarawak Chief Minister Tan Sri Abdul Taib Mahmud on Saturday. Tanjung Manis, which is located within the newly launched Sarawak Corridor of Renewable Energy, has been identified as a key shipbuilding hub. Read more

(The Star 19-2-2008)

UEM World among most-active counters

PETALING JAYA: UEM World Bhd, which resumed trading yesterday after announcing a major restructuring involving the listing of property arm UEM Land Sdn Bhd, succumbed to profit taking after the morning's gains. One of the most actively-traded counters, UEM World recorded a volume of 42.6 million shares in a relatively weak market. The counter opened at the day's high of RM4.30. However, the positive momentum could not be sustained for long, as investors took profit. The stock shed 32 sen, or 7.77%, to RM3.80. On Friday, UEM World announced that it planned to list UEM Land on Bursa Malaysia and delist itself under a proposed restructuring exercise. Read more

(The Star 19-2-2008)