Gamuda Land wows visitors with Jade Hills

GAMUDA Land held a “sneak preview” of its latest high-end residential development, Jade Hills in Kajang, during the recent Chinese New Year festive period. It was a pleasant surprise for those who attended the “Spring Festival” event on Feb 16. The renowned property developer had quietly but efficiently built four splendid show bungalows, an Oriental-style clubhouse, and big entrance statement with the usual water features. It also put up a large air-conditioned tent to welcome prospective buyers and other visitors. Read more>

(The Star 25-2-2008)

Nusajaya vibrant city by year 2011

BANDAR Nusajaya in the Iskandar Development Region (IDR) will come alive in 2011 when the projects and activities planned for the township takes shape. UEM Land Sdn Bhd, through its subsidiary Bandar Nusajaya Development Sdn Bhd, is the master developer of the sprawling 24,000-acre integrated urban development of Nusajaya. Wan Abdullah Wan Ibrahim,With Nusajaya being one of the five key flagship zones of the IDR, UEM Land is in an advantageous position to reap the fruits of the development of IDR into a major regional economic hub under the Ninth Malaysia Plan. According to UEM Land managing director Wan Abdullah Wan Ibrahim, the company has become more active in the last three years and implemented various changes to its plans for the township. “We have been successful in putting Nusajaya back on the map with new activities and branding. We expect the momentum to pick up these two to three years,” he told StarBiz. Read more>

(The Star 25-2-2008)

UEM Land plans to enter regional market in three years

UEM Land Sdn Bhd aims to have a regional presence by 2011 when it expands its wings offshore to other emerging markets such as Vietnam, Indonesia and India. “With our key development, Nusajaya in Johor, reaching the tipping point by that time, the company will have the capability to venture into new markets to widen its earnings base,” said managing director Wan Abdullah Wan Ibrahim. “Going by our parent company UEM Group Bhd's long list of developments and track record, we have consistently delivered our projects on time and with great quality. “The group has also established an international presence, which the company can leverage on in its offshore aspirations.” Locally, UEM Land is looking at adding new profit centres to achieve geographical diversity in areas of focus, including several opportunities in the Klang Valley, which should be revenue-generating in 2009 if they materialise. Read more>>

(The Star 25-2-2008)

Impiana KLCC Hotel & Spa to get RM100m annexe

KLCC Property Holdings (KLCCP) Bhd, which owns Impiana KLCC Hotel & Spa at Jalan Pinang in Kuala Lumpur, plans to invest around RM100 million to build a 20-storey building adjacent to the property."This is the hotel's second phase of development. The L-shaped building will be constructed on the rooftop of the existing carpark, starting from level six."We hope it will be operational by 2010," said Impiana Hotels & Resorts Management Sdn Bhd (IHRM) group general manager Mohamad Halim Merican.IHRM, founded by Datuk Seri Ismail Farouk Abdullah of the KAB Group, is managing the four-star 335-room hotel, which opened in December 2005.Under the development plan for the new building, KLCCP is planning to include business suites and residential-type accommodation or service apartment facilities.It will also add an additional 180 rooms, which will be larger in size, a club floor and double volume private lounge, and a specialty roof-top restaurant.

(New Straits Times 25-2-2008)

UEM Land to raise RM875m

The company is in the midst of arranging a syndicated term loan and six banks have expressed interest, most of them Malaysians, says its senior general manager of finance. UEM Land Sdn Bhd is looking to raise RM875 million through a five-year syndicated term loan facility to finance its projects at Nusajaya in Johor, its top executive said.The soon-to-be-listed property unit of UEM World Bhd is the master developer of Nusajaya, Malaysia's biggest property project."We're going to the market to seek some funding for working capital requirements," managing director Wan Abdullah Wan Ibrahim told Business Times in an interview. Read more>

(New Straits Times 25-2-2008)

MTD Capital units to be bought out

MALAYSIAN engineering and construction firm MTD Capital Bhd signalled today a buyout bid for its two listed property and toll-road units.MTD Capital suspended its shares from trade, saying it would soon announce a large deal that would involve a buyout of property and infrastructure firm Metacorp Bhd and tollroad company MTD Infraperdana Bhd.MTD Capital owns 72.3 per cent of MTD Infraperdana, the country’s second-largest toll-road concessionaire, and 75 per cent of Metacorp, which specialises in property development and waste management, according to Reuters data. MTD Infraperdana has a market value of almost RM800 million (US$250 million), while Metacorp is valued at RM295 million. The shares in both these firms have also been suspended.MTD Capital said today its shares would be halted from trade pending “announcement of a material transaction which involves its two public-listed subsidiaries, namely Metacorp Bhd and MTD Infraperdana Bhd, being taken private”.

(Reuters 23-2-2008)

Steel products set for sharp price rise

Steelmakers Mycron Steel and Ornasteel say rising cost of raw materials has compelled them to raise the prices of their products for the next quarter. DOMESTIC end-users across all industries, including manufacturing, construction and automotive, may have to pay as much as US$200 (RM644) a tonne more for flat-rolled steel products in the second quarter of this year because of higher cost of raw materials.Major domestic steelmakers such as Mycron Steel Bhd and Ornasteel Holdings Bhd said that rising cost of raw materials like iron ore has compelled them to raise the prices of their products for the next quarter.This comes in the wake of recent reports that said Japanese steelmakers, led by Nippon Steel, have agreed to a 65 per cent increase in annual iron ore prices from April 1 with miners Vale and Rio Tinto. Read more>

(New Straits Times 23-2-2008)

The Oval apartments launching in June

A KUALA LUMPUR: GuocoLand (M) Bhd, formerly Hong Leong Properties Bhd, will launch The Oval high-end apartments in the Kuala Lumpur City Centre (KLCC) enclave by June. Located along Jalan Binjai, The Oval will have an estimated gross development value of over RM800mil and total saleable floor area of 586,356 sq ft. Located on 2.14 acres, the project comprises two 41-storey blocks, East Tower and West Tower, with 70 units in each block. read more

(The Star 23-2-2008)

Last Phase of Parkville Townhouses set for launch

(The Sun 22-2-2008)

New BKP projects in KL

(The Sun 22-2-2008)

Pahang Set To Gain Another Integrated Resort City

(The Sun 22-2-2008)

Hap Seng Set out Make a splash

(The Sun 22-2-2008)

Company Announcement: AmFIRST REAL ESTATE INVESTMENT TRUST

PROPOSED ACQUISITION BY MAYBAN TRUSTEES BERHAD ("TRUSTEE"), ACTING AS TRUSTEE FOR AND ON BEHALF OF AmFIRST REIT, FROM MEDA DEVELOPMENT SDN BHD (“MEDA” OR “VENDOR”), A WHOLLY-OWNED SUBSIDIARY OF MEDA INC. BERHAD (“MEDA INC.”), OF ALL PROPERTY UNITS OWNED BY THE VENDOR THAT ARE LOCATED WITHIN THE MIXED COMMERCIAL COMPLEX KNOWN AS “THE SUMMIT SUBANG USJ” (“PROPOSED ACQUISITION”) Read more

(KLSE 21-2-2008)

Dijaya buys 10ha lands for RM18m

KUALA LUMPUR: Dijaya Corporation Bhd’s unit Dijaya Property Sdn Bhd (DPSB) is acquiring two parcels of freehold land measuring at 9.24 hectares and 1.59ha each in Cheras, Hulu Langat, Selangor for RM18.66 million. It told Bursa Malaysia yesterday that the proposed acquisition was in line with its plan to increase its land bank to generate long-term sustainable income for the group. “DPSB plans to carry out a residential development on the properties with a preliminary estimated gross development value (GDV) of RM200 million,” Dijaya said.

(The Edge 22-2-2008)

Gamuda MD cuts stake, stock tumbles

Datuk Lin Yun Ling will still be committed to his role as a managing director and no management reshuffling is likely to happen, says a company official SHARES of Gamuda Bhd, Malaysia's second biggest builder, suffered their biggest drop in 10 years yesterday, after managing director Datuk Lin Yun Ling reduced his stake in the company to 1.73 per cent from 5.23 per cent.Lin sold 70 million Gamuda shares through Credit Suisse (Hong Kong) Ltd on Wednesday, reducing his stake to 34.7 million shares from 104.7 million in a deal believed to be valued at around RM350 million.While the news came as a surprise to the industry, Lin reiterated that he will be retaining the remaining shares and his management position, which he has held since 1981."I am undertaking this partial disposal for estate planning purposes as I last sold shares in April 2002," Lin said in a statement, without elaborating on his future plans. Read more

(New Straits Times 22-2-2008)

Relief for owners

MALACCA: The owners of 143 pre-war shophouses and houses in old Malacca were shocked when told the state had gazetted their buildings for acquisition. They knew about the state’s intention after DAP secretary general Lim Guan Eng showed them a Jan 17 letter from the state Land and Mines Department here recently. Crying foul: These buildings along the Malacca River are among the 143 in the proposed gazette by the state.However, state Housing and Development Committee chairman Datuk Koh Nai Kwong urged the building owners to ignore the letter, claiming it was a mistake. Read more

(The Star 21-2-2008)

MRCB nears key support level

WEAK performances on the regional stock sent share prices on Bursa Malaysia drifting to lower levels yesterday. Its overall declining counters out-paced its advancing counters by 597 to 195. The Kuala Lumpur Composite Index (KLCI) fell from its intra-day high of 1,427.38 to its intra-day low of 1,404.44 yesterday. The KLCI closed at 1,414.32 points, giving a day-on-day loss of 11.17 points, or 0.78 per cent. Malaysian Resources Corporation Bhd (MRCB) staged a technical breakdown yesterday. Its daily price trend closed at RM2.41, posting a day-on-day loss of 25 sen, or 9.40 per cent. Chartwise, MRCB's daily price trend fell from its intra-day high of RM2.95 on February 13 all the way down to its intra-day low of RM2.40 on February 20, recording a total loss of 55 sen, or 18.64 per cent. Read more

(New Straits Times 21-2-2008)

Hunza Prop sets sights on foreigners

The developer wants to promote the high-end 'Alila 2' residential project in Penang to buyers from Europe, Hong Kong, South Korea, Indonesia and Singapore HUNZA Properties Bhd (Hunza) plans to launch a high-end residential project on Penang island in 2010 to capture demand from foreign buyers.The new project, codenamed "Alila 2", is sited on a 4ha plot in Tanjung Bungah. It will be promoted to buyers in Europe, Hong Kong, South Korea, Indonesia and Singapore. Read more

(New Straits Times 21-2-2008)

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)