Sunday, April 6, 2008
KLSE Announcment: BOLTON BERHAD
KLSE Announcement:HUA YANG BERHAD
MAH SING GROUP BERHAD
KLSE Announcement: Mah Sing Group Berhad
MEDA INC. BERHAD
Contents
:
We refer to the announcements dated 1 August 2007, 29 August 2007, 31 October 2007, 30 November 2007, 31 December 2007 and 13 March 2008 made by Kenanga Investment Bank Berhad (“KIBB”), on behalf of the Board of Directors of Meda (“Board”), in relation to the Proposed Sale (“Announcements”). Unless otherwise stated, terms used in this announcement shall carry the same meaning as defined in the Announcements.KIBB, on behalf of the Board, is pleased to announce that the Proposed Sale was completed on 31 March 2008 in accordance with the terms of the Revised Agreement. This announcement is dated 31 March 2008.
LION DIVERSIFIED HOLDINGS BERHAD
Contents
:
The Board of Directors of LDHB wishes to announce that Changshu Lion Enterprise Co., Ltd, a wholly-owned subsidiary of Well Morning Limited, which in turn is a wholly-owned subsidiary of LDHB had entered into the following sale and purchase agreements upon the successful tender of the Changshu Lands: (i) a conditional sale and purchase agreement dated 4 January 2008 with the Land Department of Changshu City, Jiangsu Province for the acquisition of 1 piece of land (Parcel No. 6A) for a cash consideration of approximately Rmb157.59 million (equivalent to approximately RM72.49 million); and (ii) the respective conditional sale and purchase agreements all dated 28 March 2008 with the Land Department of Changshu City, Jiangsu Province for the acquisition of 3 pieces of land (Parcel No. 6B, 8A and 8B) for a total cash consideration of approximately Rmb172.13 million (equivalent to approximately RM79.18 million).
LION DIVERSIFIED HOLDINGS BERHAD
Contents
:
The Board of Directors of LDHB wishes to announce that Changshu Lion Enterprise Co., Ltd, a wholly-owned subsidiary of Well Morning Limited, which in turn is a wholly-owned subsidiary of LDHB had entered into the following sale and purchase agreements upon the successful tender of the Changshu Lands: (i) a conditional sale and purchase agreement dated 4 January 2008 with the Land Department of Changshu City, Jiangsu Province for the acquisition of 1 piece of land (Parcel No. 6A) for a cash consideration of approximately Rmb157.59 million (equivalent to approximately RM72.49 million); and (ii) the respective conditional sale and purchase agreements all dated 28 March 2008 with the Land Department of Changshu City, Jiangsu Province for the acquisition of 3 pieces of land (Parcel No. 6B, 8A and 8B) for a total cash consideration of approximately Rmb172.13 million (equivalent to approximately RM79.18 million).
LION DIVERSIFIED HOLDINGS BERHAD
Contents
:
The Board of Directors of LDHB wishes to announce that Changshu Lion Enterprise Co., Ltd, a wholly-owned subsidiary of Well Morning Limited, which in turn is a wholly-owned subsidiary of LDHB had entered into the following sale and purchase agreements upon the successful tender of the Changshu Lands: (i) a conditional sale and purchase agreement dated 4 January 2008 with the Land Department of Changshu City, Jiangsu Province for the acquisition of 1 piece of land (Parcel No. 6A) for a cash consideration of approximately Rmb157.59 million (equivalent to approximately RM72.49 million); and (ii) the respective conditional sale and purchase agreements all dated 28 March 2008 with the Land Department of Changshu City, Jiangsu Province for the acquisition of 3 pieces of land (Parcel No. 6B, 8A and 8B) for a total cash consideration of approximately Rmb172.13 million (equivalent to approximately RM79.18 million).
KLSE Announcment: AXIS REAL ESTATE INVESTMENT TRUST
Contents
:
PROPOSED ACQUISITION BY Axis-REIT OF A FREEHOLD INDUSTRIAL FACTORY WITH ANCILLARY BUILDINGS WITH AN APPROXIMATE BUILT-UP AREA OF 11,657.10 SQ. METRES ERECTED ON PART OF LOT NO. 211 MUKIM OF SENAI-KULAI, DISTRICT OF JOHOR BAHRU MEASURING APPROXIMATELY 5.335 ACRES (2.159 HECTARES), HELD UNDER MASTER TITLE GM 1171 FOR LOT 211, IN TEMPAT SEELONG, MUKIM SENAI-KULAI DAERAH KULAI STATE OF JOHOR (THE “PROPERTY”) FROM WELL-BUILT HOLDINGS SDN BHD (NO. 366020-V) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM 14.0 MILLION (“PROPOSED ACQUISITION OF THE PROPERTY”)
KLSE Announcement; UOA REAL ESTATE INVESTMENT TRUST
Contents
:
Further to the announcements dated 6 November 2007 and 16 January 2008, UOA Asset Management Sdn Bhd, the management company of UOA REIT wishes to announce that the Acquisition has been completed.All conditions precedent as contained in the Sale and Purchase Agreement has been fulfilled. This announcement is dated 2 April 2008.
KLSE Announcement: SELANGOR DREDGING BERHAD
Contents
:
We refer to the announcement made on 18 January 2008 and would like to announce that the Foreign Investment Committee (“FIC”) has approved the Proposed Acquisition, subject to the condition that, CCSB is required to increase its paid-up capital to at least RM100,000.00 within six (6) months from the date of the FIC’s approval. This announcement is dated 2 April 2008.
KLSE Announcement: Mah Sing
Contents
:
Further to our announcements on 3 January 2008 and 28 February 2008, the Board of Directors of Mah Sing wishes to announce that save for one (1) piece of Land held under GM 383, Lot 1910, Tempat Kangkar Pulai, Mukim Senai-Kulai, Negeri Johor (“Outstanding Transaction”), the sale and purchase transactions for all the other seven (7) pieces of Land pursuant to the Proposed Acquisition have been duly completed.The Outstanding Transaction shall be completed upon the delivery of vacant possession by the vendor at a later stage.This announcement is dated 3 April 2008.
Will Penang’s property market continue to boom?
Posted by Malaysia Property Research Inc at 6:44 PM Labels: Goverment Policy
New Development: Bindev to unveil final phase of Bukit Istana
The project covers 54.4ha and has a gross development value of about RM250mil. Read more
(The Star 5-4-2008)
Posted by Malaysia Property Research Inc at 6:40 PM Labels: Planned Supply/Residential
Asia Real Estate (Part IV)
The real estate industry has seen rapid growth across Asia post-crisis, with varying stages of development within each country. Nevertheless, we have identified several similar trends/patterns, unique throughout the region, as follows:
> The real estate sector in Asia is driven mainly by rapid and dynamic growth in the offices and high-end residential segments.
> Prices for residential and non-residential properties in many major cities and smaller cities continued to rise, despite higher interest rates across the region.
> Asia’s REITs markets continued to grow with many companies converting their assets into REITs. The total number of Asian REITs at the end of 2007 stood at 86 with a total market capitalisation of US$74.8bil.
> The overheating property markets in many countries across the region led governments to enforce stricter rules to cool down the situation.
The Chinese government further tightened measures by increasing taxes, requiring developers to build more low-cost houses and tightening rules on property purchase by foreigners. South Korea and India also tightened rules in relation to borrowing.
> In most markets (Singapore, Hong Kong, Malaysia, China, India) demand for office space is highest followed by hotel/resorts, retail, industrial/distribution, homebuilding and apartments residential.
> The strong capital inflow into Asia real estate particularly China leads to the problem of demand exceeding supply. Although the Asia market has unparalleled potential for growth, in most cases, it lacks depth. The lack of a solid investment base to absorb current levels of incoming capital lead to the reflection of the current scenario, therefore increasing the risk of overheating.
Looming subprime issue
We expect the US subprime issue to continue to rear its ugly head well into the year as write downs continue.However, we expect the impact on Asian markets to be minimal (safe the export sector) given that the region’s financial institutions have relatively limited direct exposures to US subprime mortgages.In the region, China is the largest overseas holder of US mortgage-backed securities, at around US$260bil, which is held mostly through its international reserve holdings and through holdings of commercial banks.We take the view that Asia remains relatively insulated from the US subprime issue for the following reasons:
> Asia’s huge pool of international reserves at US$3tril (including Japan and China)
> Asian banks’ exposure to subprime debt instruments is minimal and manageable
> Asian corporate sector leverage is very low
> The banking system has been strengthened and is strongly capitalised
> The financial sector’s direct exposure to equity markets also appears relatively limited
> Asian central banks have taken steps to improve the regulation of high-leveraged activities
> Asian economies have become more resilient to shocks to their capital accounts as external vulnerabilities have been reduced
> Companies depend less on the more risky capital inflows
As such, we expect the contagion from the US subprime crisis to be limited to the capital markets. An indirect effect of the subprime crisis on the region is that it has increased the cost of raising capital for banks, corporate and investment bodies.New bond issues will have to be priced slightly higher to reflect rising credit market volatility and the anticipated temporary decline in investors’ demand for these products both globally and in the region.Liquidity on capital markets in Asia remains vast although a re-rating of risk will see some liquidity being sapped out of equities/real estate in the medium term.Credit market spreads that reached record low levels pre-subprime crisis are likely to widen and remain high into 1Q08, both in the region and for emerging markets as a whole. In the medium to longer-term, as deals get bigger in size and more complex, access to cheap international capital is becoming more important.The crisis will continue to affect the region indirectly in that it has heightened uncertainty and resulted in a reassessment of risk, as reflected in the periodic declines seen in stock market in 2007.We expect frequent and large reassessments of risk and high volatility in asset prices to figure largely in Asian economies for the most part of 2008.Inflation poses a key challenge for the region, which has enjoyed robust expansion in the last few years amidst muted price pressures. Oil prices, which are expected to remain firm in 2008, have raised the spectre of global inflation trending even higher this year.This poses a key threat to the region’s inflation outlook. We expect oil to trend higher this year to average at US$80 per barrel, vs US$72.4 per barrel in 2007.A different set of rules will apply moving forward as policy makers strive to balance the need for tighter monetary conditions to rein in rising costs even as growth weakens.
Posted by Malaysia Property Research Inc at 3:14 PM
Asia Real Estate (Part III)
> Strong economic growth in most markets in Asia will support the strong performance in the residential segments.
> Rising income per capita will enhance purchasing power and therefore boost consumer spending. High economic growth, improved employment levels and positive wealth effects arising from equities in most parts of Asia Pacific have led to higher disposable incomes.
Average per capita income for the region rose to US$14,371 in 2006 from US$12,906 in 2004. Per capita income is expected to average US$15,217 in 2007 and US$15,886 in 2008 that in turn, will boost demand for residential properties.
> In most Asian markets (China, India, Singapore, Malaysia) the high-end residential property market has witnessed increased demand spurred by the influx of expatriates and skilled professionals, the region's increasing attractiveness as a second home (retirement) and higher rental yields.
> The demographic profile of Asia is relatively young. Asia’s young population (aged 15 to 59) continues to increase, creating strong demand for housing for ownership occupation and rental increases. India’s population is expected to increase from 1.1 billion to almost 1.5 billion by 2025. In 2006, the working age group of those aged between 15-64 years stood at 64.3% and expects to increase moving forward.The Asian real estate market capitalisation stands at approximately US$4.9tril, mainly dominated by Japan followed by China and the rest of Asia. We expect this ratio to alter moving forward with strong growth in Asian markets. Apart from Japan, real estate activities are focused in Singapore and China.A common practice that is picking up in the region is the number of sale and leaseback transactions particularly in Singapore and Japan. We expect this trend to spread across the region over the medium term.
Posted by Malaysia Property Research Inc at 3:12 PM
Asia Real Estate (Part II)
Capital flows to the Asian region have increased tremendously since 2005, mainly into major economic sectors such as manufacturing, services and oil and gas, and opportunities remain abundant in the property sector.The US is among the largest sources of investment inflows into the region; nevertheless, the largest increases in the availability of capital for real estate are expected to come from the Middle East, China and India. The main sources of capital for property investments in 2007 and 2008 remain private equity investment funds, institutional investors and real estate investment trusts (REITs).Since 2006, the Asia region has experienced strong demand in the residential sector despite high interest rates that led to higher house prices. In mainland China and Hong Kong, strong economic growth continues to support the residential market. Beijing and Shanghai continued to attract high levels of foreign investment that entailed a higher number of expatriate professionals which led to higher demand for luxury residential property.Residential real estate prices have shot up particularly in Singapore. Singapore’s residential price change in 4Q07 stood at 31.4%. Concurrently, Malaysia witnessed stable prices and rentals for 1H07. Strong demand for high-end residential units in prime cities such as Hong Kong, Kuala Lumpur and Singapore has escalated with the launch of new high-end residential units throughout 2007.The most expensive residential segments in Asia continue to be Hong Kong, Tokyo and Singapore at over US$10,000 per sq m.In Hong Kong, the real estate scene has not been very different from other countries in the region with house prices trending higher at 8.78% y-o-y in 2Q07 compared to 0.65% negative growth in 2Q06. The real estate market has been gradually recovering since the country’s downturn in the property market last year, following the housing slump in the US.
Posted by Malaysia Property Research Inc at 3:10 PM Labels: Property Overview
Navigating the storm: Asia’s real estate (Part 1)
The demand for real estate is dependent on the health of the economy, which in turn is affected by financial markets.In 2008, we expect prospects for Asia’s real estate to remain lukewarm, especially in traditional FDI led markets like Singapore. The global economy still faces major uncertainties as to how a further unravelling of the credit crisis will affect the availability of credit and asset pricing.The resilience of Asian economies and the real estate market will be truly tested in 2008. Buoyant domestic consumption is expected to help the region weather a substantial economic slowdown as weaker global demand impacts Asian exports.Overall, despite the risks inherent in the region, we believe opportunities remain in Asia’s real estate market, mainly in grade-A office space, driven by sound GDP growth (projected at 8% y-o-y) underpinned by sustained private consumption, higher public and private investments; a re-rating of property as an asset class, sustained domestic demand and on-going infrastructure development.We remain bullish on India and Vietnam, with a cautious view on China, Malaysia and Singapore.
Posted by Malaysia Property Research Inc at 3:04 PM Labels: Property Overview
Brisk sale of Plaza Damas 3
Posted by Malaysia Property Research Inc at 2:58 PM Labels: Planned Supply/Shop Office
Real Estate Cycle (Part II)
Posted by Malaysia Property Research Inc at 2:55 PM Labels: Property Overview
Real Estate Cycle (Part I)
Posted by Malaysia Property Research Inc at 2:44 PM Labels: Property Overview
Dijaya's Tana buys more sunrise shares
Posted by Malaysia Property Research Inc at 2:42 PM Labels: property transaction
UAC counts on new system to push sales
Posted by Malaysia Property Research Inc at 2:32 PM Labels: Material Prices
High end properties still attracting foreigners
Posted by Malaysia Property Research Inc at 2:31 PM Labels: Property Overview
MPHB makes property thrust
AmREIT to increase assets under management by 45%
Menara Stanchart up for sale?
Posted by Malaysia Property Research Inc at 2:21 PM Labels: property transaction
Affin, Mutiara Goodyear in Penang housing pact
Posted by Malaysia Property Research Inc at 2:17 PM
Property investment
Posted by Malaysia Property Research Inc at 2:02 PM Labels: Property Investment
New Development: Taman Scientex Pasir Gudang and Kulai
Posted by Malaysia Property Research Inc at 1:59 PM Labels: Planned Supply/Residential