Faber has projects worth RM700 mil

FABER Development Sdn Bhd, a subsidiary of Faber Group Bhd (Faber), has RM200 million in unbilled sales from its existing property projects out of the RM700 million worth of projects under the company which will last them until the end of 2011.

The group has two core businesses – facilities management (healthcare and non-healthcare) and property development. Its property arm contributed 30% to the group revenue, recording an increase of 26% at RM206 million for its FY ending Dec 31, 2007 compared to RM163 million in 2006.“It is a challenge for all developers, including us, to deliver quality goods at reasonable prices due to rising costs,” said Adnan, adding that there will be seven launches this year worth over RM450 million. The launches are four phases within Laman Rimbunan, two projects in Taman Danau Desa and an exclusive development in Kota Kinabalu.Faber’s remaining 57-acre landbank are located in Taman Desa, Laman Rimbunan and Sabah. The developer plans to secure sizeable landbanks especially within the Klang Valley.

(The Sun 28-3-2008)

Lee to quit as Country Heights MD

TAN SRI Lee Kim Yew said he will quit his post as group managing director of Country Heights Holdings Bhd, but denied that he was selling his shares in the property company. "That is not true. I'm not leaving. I'm not selling off my shares. In fact, I have been accumulating shares of Country Heights," he told Business Times in a telephone interview yesterday.Lee, who founded Country Heights, was responding to a recent news report that said he may relinquish his executive role in the group following an internal restructuring exercise that is under way. Read more

(12-3-2008 New Straits Times)

Encorp wants to venture into Asia, Mideast

PETALING JAYA: Having made its mark in the prefabricated building technology locally, Encorp Bhd is ready for its maiden foray overseas and has set its sights on projects in Asia and the Middle East. It was negotiating to undertake homes, government quarters and commercial building projects in several countries in the two regions, said group chief executive officer Yeoh Soo Ann. He said Encorp's reputation in designing, financing and constructing 10,000 teachers' quarters in Malaysia using the industrialised building system positioned the company well to seek overseas ventures that used such technology for mass housing projects. “We will go where the returns are operationally and financially viable after taking into consideration the political and currency risks of that particular country and/or region,” he told StarBiz.

(The Star 8-3-2008)

Jeffrey Ng joins SunCity as exec director

PETALING JAYA: Datuk Jeffrey Ng, the immediate past president of the Real Estate and Housing Developers Association (Rehda), has joined the board of Sunway City Bhd (SunCity) as an executive director, effective Monday.Ng, 51, was managing director of Asia Pacific Land Bhd from 1994 to 2006.On his appointment, Ng said he looked forward to contribute positively to SunCity’s further achievements as a major property player in the country.“With its strong financial credentials now and its resilience in facing the market cycles in the past 20 years, it is certainly a very good company to be associated with.“Going forward, there are many exciting plans lined up for the company and I look forward to partaking in and adding value to these plans,” he said. Read more

(The Star 5-3-2008)