On track to begin afresh

Beleagured Talam Corp Bhd is all primed to begin anew with a range of developments to put it back into the game. In the first package, the six projects being rehabilitated are Taman Puncak Jalil (2,929 units), Putra Perdana (752 units), Ukay Perdana (1,481 units), Lagoon Perdana (1,927 units), Kinrara Section 3 (1,158 units) and Bukit Beruntung (192 units). Now, with the awarding of the second package to complete the remaining five projects – Taman Lestari Puchong (1,114 units), Saujana Puchong (420 units), Saujana Putra (531 units), Lestari Permai (568 units) and Jalil Heights (100 units) – Talam will have sorted out all of its delayed developments, she said. With a landbank of some 8,000 acres in the Klang Valley, of which a quarter is in choice locations, Talam is eager to get back in the game. However, Chua said, it will now “focus on premium homes” instead of mass housing it had done in the past.

(21-1-2008 New Straits Times)

LBS disposes of 22 properties for RM3.9m

KUALA LUMPUR: LBS Bina Group Bhd is selling 22 of its properties in its Bandar Putera Indah mixed housing development in Batu Pahat, Johor to Bebas Bakti Sdn Bhd (BBSB) for RM3.92 million cash. In an announcement to Bursa Malaysia yesterday, it said it had entered into the sale and purchase agreements via its property development unit LBS Bina Holdings Sdn Bhd yesterday. The properties comprise 20 units of double-storey shop offices and two units of three-storey shops, all of which are reserved as bumiputera units.

(16-1-2008 The Edge)

UM Land to build more high-end properties

JOHOR BARU: United Malayan Land Bhd (UM Land) plans to introduce more high-end residential properties for future launches at its Seri Austin township. The move would cater for local home up-graders and Singaporean buyers, sales and marketing senior manager Ivan Chooi Kin Pheng said. In the pipeline were bungalows priced from RM1mil each, he said, adding there were potential buyers here and from Singapore.

(16-1-2008 The Star)

LBS Bina to sell properties

LBS Bina Holdings Sdn Bhd has entered into 22 sales and purchase agreements with Bebas Bakti Sdn Bhd to dispose of 22 units of completed properties in Bandar Putera Indah project in Batu Pahat, Johor for RM3.921 million. LBS Bina Holdings is a wholly-owned subsidiary of LBS Bina Group Bhd. The proposed disposal is expected to be completed within three years.

(16-1-2008 New Straits Times)

LBS Bina to sell properties

LBS Bina Holdings Sdn Bhd has entered into 22 sales and purchase agreements with Bebas Bakti Sdn Bhd to dispose of 22 units of completed properties in Bandar Putera Indah project in Batu Pahat, Johor for RM3.921 million. LBS Bina Holdings is a wholly-owned subsidiary of LBS Bina Group Bhd. The proposed disposal is expected to be completed within three years.

(16-1-2008 New Straits Times)

Talam to cut debts to RM300m, eyes high-end properties

KUALA LUMPUR: Talam Corporation Bhd targets to reduce its existing RM1.1 billion debt to a manageable RM300 million under its revamp, which it hopes to be approved by the Securities Commission by month-end. Talam has awarded IJM Construction Sdn Bhd as principal contractor for its existing projects which include Taman Lestari Puchong, Saujana Puchong, Saujana Putra, Lestari Permai and Jalil Heights which will begin work in February. Other projects include Puncak Jalil, Ukay Perdana, Putra Perdana, Kinrara Section 3, Bukit Beruntung and Lagoon Perdana. Chua said Talam has about 3,200ha of land in the Klang Valley that are yet to be developed, with some 25% in prime locations.

(15-1-2008 The Edge)

Talam to focus on premium housing projects

TALAM Corp Bhd aims to move away from developing low- and mid-cost housing and instead focus on premium products in the Klang Valley once it shakes off its Practice Note 17 (PN17) status. The property developer has close to 8,000 acres of undeveloped landbank, of which 2,000 acres are in good locations, executive director Chua Kim Lan said at a media briefing. Talam is currently waiting for the Securities Commission (SC) to approve its revised financial restructuring plan so that it can move out of its troubled PN17 status. The new plan addresses all concerns that the SC had raised about an earlier plan.

(15-1-2008 New Straits Times)

Talam on track to deliver homes to buyers

KUALA LUMPUR: Talam Corp Bhd has handed over 547 double-storey houses in Taman Puncak Jalil to buyers in the past two months. Executive director Chua Kim Lan said the remaining 7,892 units of various types of houses at six housing schemes were being built by principal contractor IJM Construction Sdn Bhd (IJMC) and were expected to be delivered in six to 18 months. The total 8,439 units form the first package valued at RM700mil which was awarded to IJMC in 2006. A second package, involving 2,733 units worth RM125mil, was awarded last month to IJMC, she told a press briefing yesterday. The second package involves projects at Taman Lestari Puchong, Saujana Puchong, Saujana Putra, Lestari Permai and Jalil Heights.

(15-1-2008 The Star)

Tan & Tan Expanding Niche Development

TAN & Tan Developments Bhd, a wholly owned unit of IGB Corp Bhd, is expanding in the niche residential property market with the launch of new lifestyle products in the Kuala Lumpur city centre and the suburbs in the Klang Valley. Over the next two years, the company will launch 11 upmarket projects in the Klang Valley worth a total gross development value (GDV) of RM2.5bil. These projects will keep the company busy for the next five to six years.

(14-01-2008 The Star)

Mulpha Developing Bungalows In Bukit Tunku

Mulpha Land Bhd subsidiary Mega Readymixed Sdn Bhd (MRSB) is to build bungalows on two plots of land totaling 42,816.9 sq.ft that it acquired that it acquired in the upscale Bukit Tunku area of Kuala Lumpur. It purchased the vacant freehold parcels from Teh Yean Teong for Rm12.85 million of RM300 sq.ft.

(12-01-2009 New Straits Times)

RM400mil sales target for The Regalia

KUALA LUMPUR: Malaysia Land Properties Sdn Bhd (Mayland) targets sales of RM400mil to RM450mil this year for The Regalia serviced apartments, its biggest project for the year. The Regalia will have a gross development value (GDV) of RM600mil with a net lettable area (NLA) of one million sq ft when completed in 2011. Located on a 2.5-acre site, it will consist of three blocks with distinctive themes Madison, Melrose and Milan ? and strategically placed between Kenny Hills and KL City Centre.

(11-01-2008 The Star)

HK-Base Tycoon Bullish On Malaysian Property Market

HONG Kong-based hotelier and property tycoon Tan Sri David Chiu is bullish on Malaysia's property market, saying there is plenty of room for residential property prices to move upwards. He was speaking after the launch of The Regalia, a three-block 38-storey luxury serviced apartment located off Jalan Kuching, behind The Mall in Kuala Lumpur. Chiu expects the salary scale in Malaysia to rise further as more foreign companies set up office in the country.

(11-1-2008 New Straits Times)

CapitaLand offers to buy out Ascott

SINGAPORE: CapitaLand Ltd offered at least S$929.5 million (S$1 = RM2.28) to buy out minority owners of Ascott Group Ltd, after shares in Asia's biggest operator of serviced apartments fell 40 per cent over the past eight months.

(9-1-2008 Blooberg)

Sunway Palazzio Set To Raise Benchmark in Sri Hartamas

SunwayCity Bhd, which bagged an en bloc sale in Sri Hartamas recently, is set to push the condominium benchmark in the area with the sale of some 20 units of the first block of its highend Sunway Palazzion.

(Malaysian Reserve 9-1-2008)