Attractive land price, availability the pulling factors

THE cheaper land price and availability of land in the Klang-Shah Alam corridor will continue to attract developers and house buyers to the property market there.Henry Butcher (M) Sdn Bhd property consultants said transaction prices for residential title land for bungalows in Klang was relatively lower than Shah Alam and other first-tier cities in Malaysia.Bungalow vacant lands were transacted between RM50 and RM60 per sq ft in Teluk Pulai, Klang, and RM65 to RM80 per sq ft in Bukit Jelutong, Shah Alam.Newer townships such as Bandar Botanic was transacted from RM70 to RM80 per sq ft and Kota Kemuning had the highest transaction price from RM80 to RM100 per sq ft.Meanwhile, transaction prices in Setia Alam in Shah Alam was from RM80 to RM90 per sq ft.The Glenmarie-Saujana-Subang corridor and newer areas in Petaling Jaya such as Mutiara Damansara was transacted from RM220 onwards per sq ft.Ho Chin Soon Research Sdn Bhd managing director Ho Chin Soon said: “It is a natural progression for people to move away from Kuala Lumpur to Petaling Jaya, Subang Jaya, Shah Alam and finally, to Klang as land become more expensive and scarce.” Read more

(The Star 31-3-2008)

Fabricator plans to buy more land, expand capacity

FABRICATOR and design engineering company APB Resources Bhd is looking to utilise between RM40 million and RM50 million cash in hand to buy more land and expand its capacity, chief operating officer Alex Tan Teng Khuan said yesterday."Preferably, we want to acquire land near our existing facilities in Shah Alam and Gebeng, Pahang, or the seafront so that we would not encounter logistics problems," he told reporters after APB Resources' annual general meeting in Kuala Lumpur.In its annual report, APB Resources said there is strong demand for process equipment in the oil and gas, energy, petrochemcial and oleo-chemical sectors. However, the group's operations continue to be constrained by production capacity. Read more

(New Straits Times 26-3-2008)

AP Land buying Hokkaido land at RM6,132 per sq m

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) is making its foray into the Japanese real estate by acquiring a piece of land in Hokkaido, measuring 3,082 sq m, for RM18.9mil to build apartments. Based on the price, the freehold land is estimated to cost RM6,132 per sq metre, based on the company’s announcement to Bursa Malaysia on Tuesday. It was acquiring the land from Caymans Island-registered Tancho Investments would enable it to broaden its income into the property development sector in Japan . “The venture is expected to enhance not only the group’s future earnings but also its profile as a regional players in property development,” it said. AP Land had proposed to use part of the disposal proceeds of RM680mil from the disposal of City Square Centre and from borrowings to finance the acquisition.

(The Star 18-3-2008)

Company Announcement: HOCK SENG LEE BERHAD

PURCHASE OF INDUSTRIAL LAND FOR SHIP BUILDING OPERATION

The Board of Directors of Hock Seng Lee Berhad (“HSL”) is pleased to announce that HSL Hydro Sdn Bhd (“HSL Hydro”), a wholly owned subsidiary of HSL has on 16 February 2008 accepted the offer from Sarawak Timber Industry Development Corporation (“STIDC”) to purchase a 48.43 acre plot of leasehold industrial land at Lot 1434, Block12, Buan Land District, Bandar Baru Tanjung Manis for a total cash consideration of RM9,493,248.60. The Land is to be acquired free from all encumbrances. Read more

(KLSE 18-2-2008)

Glomac Projects Value To Hit RM1bil

KUALA LUMPUR: Glomac Bhd said the proposed acquisition of freehold land in Sepang, Selangor will increase the value of its development projects to RM1bil in the financial year ending April. It will also bring the group's total number of projects to 14. The acquisition would be financed through a combination of internally generated funds and bank borrowings, the company said in a statement.

(24-1-2008 Bernama)

Glomac buys land in Cyberjaya Flagship Zone

KUALA LUMPUR: Glomac Bhd subsidiary Glomac Jaya Sdn Bhd is buying a 3.29-hectare parcel of freehold land, which forms part of Cyberjaya Flagship Zone, in Sepang for RM21.24 million. “Fronting the main road, the lot shares its neighbourhood with other prestigious buildings such as HSBC, IBM, DHL, BMW, Ericsson, NTT, Fujitsu and MDeC HQ. “It is situated within a stone’s throw away from the Multimedia University and is adjacent to Putrajaya. The surrounding area is a popular address for international IT companies and local MSC status companies,” it said.

(21-1-2008 The Edge)

Selangor Dredging To Buy Penang Land

Selangor Dredginf Bhd plans to acquire three parcels of land in Bandar Batu Feringghi, Penang from Alphine Accord (M) Sdn Bhd for RM24.568 mil. The proposed acquisition was in line with the group’s ongoing idenfication of suitable land to add to the group’s land bank, it said in a statement to Bursa Malaysia

(19-1-2008 The Star)

Malton Sees Robust Growth

Sales and marketing director Tracey Lai sees major earnings contribution from new projects such as V Square at PJ City Centre, Pearl Villas at Section 16, Petaling Jaya and Amaya Saujana at Saujana Subang. Malton, which has a land bank of more than 1,000 acres, plans to acquire more land in areas such as Petaling Jaya, Penang and Johor.

(18-1-2008 The Star)

Guocoland to acquire land in Changkat Kia Peng for RM55.5m

KUALA LUMPUR: Guocoland (Malaysia) Bhd has entered into a conditional sale and purchase agreement to acquire a 3,030-sq m piece of freehold land with two residential buildings in Changkat Kia Peng, Kuala Lumpur, for RM55.5 million cash. Goucoland said the purchase of the land in Changkat Kia Peng, acquired on an “as-is-where-is” basis, would be financed internally and from bank borrowings, and was expected to increase the company’s gearing to 13% from 7% based on its audited accounts as at June 30, 2007. Under the agreement, Sabna would pay a RM5.5 million deposit for the purchase, with the RM49.9 million balance to be paid no later than two months from the date on which all conditions precedent were fulfilled, it said. The residential buildings located on the land comprised two bungalows which were currently owner-occupied, it added.

(15-1-2008 The Edge)

PLB Erecting Landmark On Jelutong

To further strengthen its landbank, Penang-based PLB Engineering Bhd is purchasing a 3.02 acre freehold plot located along Jalan Jelutong in George Town. Through its wholly-owned subsidiary Excelgrand Properties Sdn Bhd (EPSB), PLB is paying RM8.59 million (or RM65.30 psf) to Crystal Prestige Sdn Bhd for the site.

(12-01-2009 New Straits Times)