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)

New Development: Taman Impian Putra

Usahama PNSB Dengan Dasar Biringin S/B

Putra Impiana offers value for money, says developer

PETALING JAYA: The property market in Puchong is booming with an increasing demand for landed properties, particularly high-end ones. According to the developer of Taman Putra Impiana, Usahasama Utama Sdn Bhd, its properties there have been enjoying good capital appreciation. “For instance, the value of the units in Phase 1 have increased by 15% since their launch in 2006, and are expected to rise by a further 15% by year-end,” Ronnie Wong, head of operations told theSun. Phase 1 of Taman Putra Impiana is sold out, while Phase 2 has achieved a take-up of more than 95%. To date, more than 20% of the 80 units in Phase 3 have been sold since its launch in mid-January. Future phases will include terraced houses, shop lots and low-rise medium cost apartments. It is scheduled for completion within the next three to four years with a gross development value of RM231 million.Read more

(The Sun 19-2-2008)

Kota Selat inks Danga Bay project deal

KUALA LUMPUR: Kota Selat Tebrau Sdn Bhd has inked a letter of intent (LoU) to develop residential apartments with Singapore-based Oakwood Asia Pacific Pte Ltd, in Danga Bay, Johor. Under the LoU, the parties will enter into a management agreement, offshore technical service and marketing agreement and trademark licence agreement. Construction will start in April. - Bernama

(The Star 19-2-2008)

SEGi sharply reduces bank debts

PETALING JAYA: SEG International Bhd (SEGi), which sold its flagship campus in Kota Damansara to AmanahRaya Real Estate Investment Trust last year, has reduced its bank borrowings to 20% of equity from 100% previously. It sold the college for RM145mil with an agreement to lease back the property for 15 years. SEGi is the owner of SEGi College Malaysia, which itself is a consolidation of the Systematic and Prime education groups. "We are targeting student growth of between 15% and 20% this year" - DATUK CLEMENT HIISEGi chief executive officer Datuk Clement Hii said this was achieved after the consolidation of the group, which started in 2006, and the sale of the Kota Damansara campus. Read more

(The Star 19-2-2008)

Al-'Aqar KPJ REIT may double in size

THE Al-'Aqar KPJ REIT, the world's first Islamic healthcare property trust, may buy more hospitals in Malaysia and abroad to double its size.It has bought 11 hospitals from KPJ Healthcare Bhd for about RM631 million so far. It may buy the remaining seven that KPJ has in Malaysia this year, said Datin Paduka Siti Sa'diah Sheikh Bakir.Al-'Aqar may even buy the six hospitals that are operated by KPJ overseas, she said."When we explained to them (the hospital owners), it opened their mind," said Sa'diah, managing director of KPJ Healthcare and a director of Damansara REIT Managers Sdn Bhd, which manages Al-'Aqar.KPJ operates three hospitals in Indonesia, two in Jeddah and one in Dhaka.Having a REIT has helped KPJ grow faster, Sa'diah said. The company may also reduce its debt and hike dividend payouts."We are asset light, we can spend (to expand)," she said.KPJ holds about 48 per cent of Al-'Aqar.Read more

(New Straits Times 19-2-2008)

HSL buying Mukah land for shipyard ops

KUCHING: Hock Seng Lee Bhd (HSL) will buy industrial land in Bandar Baru Tanjung Manis in Mukah Division for RM9.5mil to diversify into ship fabrication, maintenance and repair services. The company accepted the offer to acquire the 19.6ha from landowner Sarawak Timber Industry Development Corp (STIDC) at a ceremony witnessed by Sarawak Chief Minister Tan Sri Abdul Taib Mahmud on Saturday. Tanjung Manis, which is located within the newly launched Sarawak Corridor of Renewable Energy, has been identified as a key shipbuilding hub. Read more

(The Star 19-2-2008)

UEM World among most-active counters

PETALING JAYA: UEM World Bhd, which resumed trading yesterday after announcing a major restructuring involving the listing of property arm UEM Land Sdn Bhd, succumbed to profit taking after the morning's gains. One of the most actively-traded counters, UEM World recorded a volume of 42.6 million shares in a relatively weak market. The counter opened at the day's high of RM4.30. However, the positive momentum could not be sustained for long, as investors took profit. The stock shed 32 sen, or 7.77%, to RM3.80. On Friday, UEM World announced that it planned to list UEM Land on Bursa Malaysia and delist itself under a proposed restructuring exercise. Read more

(The Star 19-2-2008)

New Company: Bandar Putra, Tanjung Lumpur, Kuantan

Welcome to PASDEC HOLDINGS BERHAD