Company Announcement:CB INDUSTRIAL PRODUCT HOLDING BERHAD

PROPOSED ACQUISITION OF PLANTATION LAND BY EMPRESA (M) SENDIRIAN BERHAD (“EMPRESA”) FROM KINA JUARA SDN BHD (“KINA JUARA”) FOR A CASH CONSIDERATION OF RM13,397,310 (“PROPOSED ACQUISITION”)Further to the announcements dated 14 November 2007, 19 November 2007 and 29 November 2007, Empresa, the proposed subsidiary of CBIP pursuant to the conditional share sale agreements of the same dates, had on 17 December 2007 entered into a conditional sale and purchase agreement with Kina Juara Sdn Bhd (“Kina Juara”) to acquire four (4) pieces of land, each held under a separate document of title in the form of a Provisional Lease of State Land, in the proportion as set out below for a cash consideration of RM13,397,310 (“Kina Juara SPA”):-(i) Provisional Lease of State Land – C Bok Land District, Lot No. 00059 (“Lot 59”) (1610/1826 portion)*;(ii) Provisional Lease of State Land – C Bok Land District, Lot No. 00060 (“Lot 60”) (whole portion);(iii) Provisional Lease of State Land – C Sawai Land District, Lot No. 00070 (“Lot 70”) (whole portion); and(iv) Provisional Lease of State Land – C Bakong Land District, Lot No. 00200 (“Lot 200”) (whole portion)

(KLSE 20-2-2008)

BLand unit places out ICULS to Goldman Sachs at RM250m

KUALA LUMPUR: Berjaya Land Bhd’s (BLand) unit, Immediate Capital Sdn Bhd (ICSB), has placed out 50 million units of irredeemable convertible unsecured loans stocks (ICULS) 1999/2009 to Goldman Sachs International at RM5 per ICULS or a total of RM250 million cash, said BLand in a statement yesterday. The placement, which was carried out through a direct business transaction, would result in a gain of RM200 million, said the company. It said the proceeds would be used for the group’s working capital purposes, including funding for its projects in Vietnam. “The placement represents an opportunity for the BLand group to realise part of its ICULS holding at a reasonable price,” it said. Read more>

(The Edge 20-2-2008)

RM1b GDV for East Ledang

NUSAJAYA: UEM Land Sdn Bhd expects to generate RM1bil in gross development value (GDV) from its latest property project, East Ledang, here. Director for strategic marketing and corporate communications Zulkifli Tahmali said the project, which would be launched on Saturday, would take five to seven years to complete. He said phase one, comprising 139 units of link duplexes priced from RM500,000 and twin villas costing at least RM850,000, was expected to be ready by mid-2009. “East Ledang is the first resort residential development to take place within the Iskandar Development Region (IDR),” he told a media tour yesterday. Read more>

(The Star 20-2-2008)

SunCity 2Q net profit surges 450% to RM170m

KUALA LUMPUR: Sunway City Bhd’s (SunCity) net profit for the second quarter (2Q) ended Dec 31, 2007, surged 450.4% to RM169.73 million from RM30.84 million a year earlier, mainly contributed by the property development and property investment segments and the fair value gain of RM315.7 million as a result of the revaluation of the Sunway Pyramid Shopping Mall. The company said the property development segment registered strong earnings from Sunway Damansara's shopoffice development and Sunway D'Mont Kiara's bungalow and high-end terrace link-house development while the property investment segment's was boosted by the opening of the expanded Sunway Pyramid Shopping Mall during the quarter. Read more>

(The Edge 20-2-2008)

Tasco buys up Port Klang logistics centre

SHAH ALAM: Integrated logistics solutions provider Trans-Asia Shipping Corporation Bhd (TASCO) has acquired the remaining 67.5% stake in its associate company Precious Fortune Sdn Bhd for RM5.74 million cash. In a statement on Feb 19, Tasco said it had acquired the stake from its global alliance partner Nippon Yusen Kabushiki Kaisha. Precious Fortune has a warehouse and office buildings (Port Klang Logistics Centre) on a 2.99ha leasehold land in North Klang Straits Industrial Estate in Port Klang. Tasco currently rents the logistics centre. Read more>

(The Edge 20-2-2008)

Auspicious treat for Sunrise customers

KUALA LUMPUR: Sunrise Bhd, a pioneer in high-end condominium projects in Mont’Kiara, feted 1,000 guests to a buffet dinner in appreciation of their loyal support and valued trust in its properties. “This effort stems from our desire to forge a closer rapport with the customers and build lasting relationships that are mutually beneficial,” its managing director Datuk Michael Yam said in his welcoming speech on Saturday night. He added the faith and trust of customers towards Sunrise had told the company it had been doing the right thing, which was meeting their expectation and garnering continuous satisfaction beyond the point of purchase. Read more>

(The Edge 18-2-2008)

Consortium plans gated community at UM land

PETALING JAYA: The project to be developed by PPC-Mint-Glomac consortium on 27.5 acres in the University of Malaya's (UM) main campus is likely to comprise condominiums and villas in a gated community. Datuk Richard Fong, Glomac Bhd group executive vice-chairman Datuk Richard Fong told StarBiz the project would be launched by the second quarter. “We're still working out the gross development value but it will be quite substantial,” he said. In a statement yesterday, UM's subsidiary UM Holdings Sdn Bhd announced the appointment of the PPC-Mint-Glomac consortium. However, the company did not give details on what would be developed.

(The Star 20-2-2008)

Sepang picked as site of New Era college

KUALA LUMPUR: A new 40ha-campus site in Sepang is awaiting the New Era College, a non-profit community-funded tertiary institution run by Dong Jiao Zong, a combination of two major associations associated with the Malaysian Chinese education movement. The land was donated by Vintage Heights – a joint venture comprising GuocoLand (M) Bhd, Perbadanan Kemajuan Negeri Selangor (PKNS), Hap Seng Consolidated Bhd, Crescent Capital Sdn Bhd and Cheltenham Investments Pte Ltd. To build the college, the Hong Leong Foundation raised RM3.38mil in the last eight years through its list of companies and charitable events and pledged another RM2mil, said Dr Poh Soon Sim, the foundation’s director. Read more>

(The Star 20-2-2008)

YTL Land target price revised downward

Project launches at Pantai Peak are likely to be postponed to second half 2008 due to slower-than-expected approval from the authorities, says DBS Vickers ResearchDBS VICKERS Research has cut its target price on shares of YTL Land Bhd by 18 per cent, citing a delay in project launch.The research house has revised its target price to RM2.70 from RM3.30 previously."Project launches at Pantai Peak are likely to be postponed to second half 2008 due to slower-than-expected approval from the authorities."We understand that the relocation of the current access to the development is slowing the speed of the approval," DBS Vickers said in a report yesterday.Read more>

(New Straits Times 20-2-2008)

Good start for SP Setia project

PETALING JAYA: SP Setia Bhd's Setia Eco Gardens project in Pulai, Johor Baru, garnered RM23mil sales at its maiden launch last Sunday. The sales were derived from two types of single-storey homes – Messius and Sotira – with starting price of RM185,800 and two models of double-storey houses, Norbana and Visellia, priced from RM249,800, SP Setia said in a statement. Group managing director and chief executive officer Tan Sri Liew Kee Sin said: “We are excited to expand the reach of our ecologically-friendly development concept to house buyers in Johor. “We believe this unique model, which strikes a fine balance between nature and the built environment, will capture the interest of the increasingly eco-conscious public.” Setia Eco Gardens is a “forward-thinking futuristic” township modelled after SP Setia’s award-winning brand of “Eco” themed developments. The 949-acre project is set to have 10,000 properties on completion in about eight years.

(The Star 20-2-2008)

SP Setia’s Eco Gardens rakes in RM23m sales

SP SETIA Bhd, a property developer, has sold houses worth some RM23 million in the maiden launch of its latest township project in Johor.Setia Eco Gardens, sprawled across 380ha, is an eight-year project located next to the Johor state's new administration centre in Bandar Nusajaya within the heart of the Iskandar Development Region. It will have some 10,000 houses. The initial sales were from two types of single-storey homes, namely Messius and Sotira, with a starting price of RM185,800. Also, SP Setia sold two models of double-storey houses, comprising Norbana and Visellia, priced at RM249,800 onwards. Read more>

(New Straits Times 20-2-2008)

Profit boost for Bandar Raya, SunCity

PETALING JAYA: Bandar Raya Development Bhd and Sunway City Bhd (SunCity) yesterday reported healthy profit growth in their last financial quarters, lifted by strong demand for high-end projects. The two property development companies, together with smaller-sized OSK Property Holdings Bhd, also expect better results, going forward, despite market concerns of tougher times ahead. “The group looks forward to a (financial) year (ending Dec 31) of strong growth, driven by the positive momentum in its property division,'' Bandar Raya told Bursa Malaysia yesterday. Read more>

(The Star 20-2-2008)