(The Sun 4-3-2008)
Tuesday, March 4, 2008
Oval rises in KLCC
The rising prices of superluxury condominiums in the vicinity of the Kuala Lumpur City Centre (KLCC) is one reason GuocoLand (M) Bhd is confident its latest project will be well received.Its chief executive officer Paul Poh said prices for a unit at its Oval project is on an average RM1,500psf, although neighbours are indicating they would be pegging the prices upwards of RM2,000psf.“The Oval’s prices have been fixed for now and therefore any upside in capital gains should rightfully accrue to the buyers,” he said.“For us, reputation is of utmost importance, rather than short-term gains.”However, Poh said prices could be reviewed at the time of the official launch, tentatively scheduled for June.Rising on a 2.14-acre freehold site, the 41-storey twin towers, dubbed East and West, will each have 70 units. GuocoLand purchased the property from Titan Debut Sdn Bhd, when it was 30 per cent complete, in April last year for RM404.58 million.The company has sold 30 per cent of the units so far, after a sales preview held last month.
(4-3-2008)
INS Bioscience to buy property
INS Bioscience Bhd (INSBIO) through its subsidiary, Easy Pha-Max Marketing Sdn Bhd (EPMM), has entered into an agreement with Flora Development Sdn Bhd to acquire a four storey shop office for RM5.45 million.The property, located in Bandar Puteri Puchong, will be used to accommodate anticipated future growth in business for EPMM, the company said in a filing to Bursa Malaysia yesterday.EPMM is principally involved in general trading, export, import of household and office equipment.“This acquisition will result in rental savings and the benefit of acquiring a readily available property will outweigh the longer time needed to construct a shop lot,” it said. - Bernama
(New Straits Times 4-3-2008)
Bountiful fish harvest seen from Lake Kenyir project
TERENGGANU Agrotech Development Corp Sdn Bhd (TADC) expects fish production at its Lake Kenyir project to surge tenfold to 2,000 tonnes a year.TADC executive director Adnan Ghazali said this is achievable as more entrepreneurs join the lake's aquaculture programme.On average, a fish cage can produce about one tonne of fish.Entrusted by the Terengganu state government to be the integrator and developer for fish farming in Lake Kenyir under the East Coast Economic Region (ECER) project, TADC is targeting about 2,000 fish cages by year-end.Adnan calculates that if an entrepreneur is responsible for 10 participants, with each participant farming 20 fish cages, then this single entrepreneur will be in charge of 200 fish cages.Over the next three years, TADC has plans for 300 people including entrepreneurs, to be involved in its Lake Kenyir aquaculture project.Through this initiative, Adnan is optimistic that TADC will be able to meet its ECER target to boost fish output up to 6,000 tonnes a year in the next three years.Adnan said a strong pull factor is the profits. Each participant can get at least a monthly income of RM700 while entrepreneurs are assured of RM1,500. Read more
(New Straits Times 4-3-2008)
Wah Seong set to get RM800mil contracts
THINGS are still looking good for Wah Seong Corp Bhd despite the recent loss of the Nord Stream contract. The group is on the verge of clinching some RM700mil to RM800mil worth of oil and gas (O&G) contracts. Deputy group managing director Giancarlo Maccagno said Wah Seong was in the midst of finalising a host of pipeline construction, manufacturing and coating contracts. “We are confident the contracts would be signed within the next two to three weeks,” he told StarBiz. The contracts that are seen to be already in the bag for Wah Seong are:
·Two pipeline construction contracts worth RM150mil and RM75mil each in Australia,
·Two pipe-coating contracts totalling RM140mil to RM150mil in Turkmenistan and Malaysia, and
·The RM400mil pipe manufacturing and coating contract for the Sabah Sarawak Gas Pipeline (Bintulu contract).
The upcoming contracts would boost the group's order book, which stands at RM1.6bil to date, to more than RM2bil. Most of the contracts would also contribute to bottom line this year.
·Two pipeline construction contracts worth RM150mil and RM75mil each in Australia,
·Two pipe-coating contracts totalling RM140mil to RM150mil in Turkmenistan and Malaysia, and
·The RM400mil pipe manufacturing and coating contract for the Sabah Sarawak Gas Pipeline (Bintulu contract).
The upcoming contracts would boost the group's order book, which stands at RM1.6bil to date, to more than RM2bil. Most of the contracts would also contribute to bottom line this year.
(The Star 4-3-2008)
Monday, March 3, 2008
Sunday, March 2, 2008
Regenerating Petaling Jaya
SOON to become a prominent landmark fronting Jalan Universiti, Petaling Jaya, Jaya One will be among one of the larger development in Section 13, says developer Tetap Tiara Sdn Bhd. Its executive director Charles Wong says Section 13 is expected to have among the first run of new commercial projects under the “ongoing regeneration of Petaling Jaya”. The other areas that will be undergoing various changes include SS2, Kelana Jaya, and Section 52, commonly known as PJ New Town.(There are plans to convert some of the industrial pockets into commercial title by the local authorities.)“The term 'regeneration' encompasses a host of changes. This include a change in the buildings in the area, a change in identity from industrial to commercial, for example, all of which boils down to a change in lifestyle for the people in that area,” Wong says.Wong says Section 13 comprises 200 acres and Jaya One will occupy just over 11 acres of it. The first phase is now complete and is expected to be fully tenanted by the middle of this year.
Boustead nets RM179m in Q4
DIVERSIFIED Boustead Holdings Bhd said its fourth quarter net profit rose eight per cent as better sales were offset by higher interest and tax charges. It is bullish of its performance this year, which will be driven by strong palm oil prices and better demand for its properties.Boustead also expects its banking arm, Affin Holdings Bhd, to do better this year."Property Division will continue to be a major profit contributor, with profit deriving mainly from the Mutiara Damansara and Mutiara Rini Johor projects."Affin Group is expected to produce better results for the coming year," it said in a statement to Bursa Malaysia yesterday. Read more
(New Straits Times 1-3-2008)
UEM World net profit surges 382%
PETALING JAYA: UEM World Bhd announced a record RM7bil revenue for the financial year ended Dec 31 (FY07), an increase of 46% compared with RM4.8bil in FY06. Group net profit saw 382% growth to RM939.2mil against RM194.9mil in FY06. According to a company statement, UEM World had set aggressive headline key performance indicators (KPIs) for 2007. Targeted returns for shareholders were exceeded with return on equity for the year at 41% compared with the target of 38% while revenue growth at 46% fell short of the target of 65%. In the statement, chief executive officer Datuk Ahmad Pardas Senin said: “Our 2007 performance is based on excellent contributions from most of our units and will be the platform for further improvements, going forward.” “Sustainability” was the key theme for establishing the group's KPI targets for FY08, which was a revenue growth of 13% and a return on equity of 13%. Read more
Saturday, March 1, 2008
The Store’s Komtar outlet to open in July
PENANG: The Store Corp Bhd’s RM15mil supermarket and department store in Komtar is scheduled for opening in July on completion of renovations, managing director Datuk Seri Tang Yeam Soon said. The supermarket and department store, occupying 138,700 sq ft, would provide a “comfortable and pleasant shopping environment,” he said after Penang Development Corp (PDC) signed a rental agreement with The Store yesterday. Also present were Penang Chief Minister Tan Sri Dr Koh Tsu Koon and PDC general manager Datuk Rosli Jaafar. Meanwhile, Rosli said PDC had to date awarded RM15mil worth of contracts to upgrade various facilities at Komtar. “These include mechanical and engineering equipment, public utilities, common areas, safety and security. We have plans also to enhance the landscaping, roof top and access to Komtar for about RM10mil to RM15mil,” he said. Rosli said on top of its own in-house consultant, PDC had also engaged property and urban design consultants to advise on efforts to revitalise Komtar. Read more
(The Star 1-3-2008)
UEM World net profit surges 382%
PETALING JAYA: UEM World Bhd announced a record RM7bil revenue for the financial year ended Dec 31 (FY07), an increase of 46% compared with RM4.8bil in FY06. Group net profit saw 382% growth to RM939.2mil against RM194.9mil in FY06. According to a company statement, UEM World had set aggressive headline key performance indicators (KPIs) for 2007. Targeted returns for shareholders were exceeded with return on equity for the year at 41% compared with the target of 38% while revenue growth at 46% fell short of the target of 65%. In the statement, chief executive officer Datuk Ahmad Pardas Senin said: “Our 2007 performance is based on excellent contributions from most of our units and will be the platform for further improvements, going forward.” Read more
(The Star 1-3-2008)
Company Announcement : AL-'AQAR KPJ REIT
PROPOSED ACQUISITIONS OF FIVE (5) HOSPITAL BUILDINGS BY AMANAH RAYA BERHAD (“TRUSTEE”), (ON BEHALF OF AL-‘AQAR KPJ REIT) NAMELY PERDANA SPECIALIST HOSPITAL BUILDING, KUANTAN SPECIALIST HOSPITAL BUILDING, SENTOSA MEDICAL CENTRE BUILDING, KPJ KAJANG SPECIALIST HOSPITAL BUILDING AND KEDAH MEDICAL CENTRE BUILDING (COLLECTIVELY KNOWN AS THE “PROPERTIES”) FOR A TOTAL PURCHASE CONSIDERATION OF RM170,040,000 TO BE SATISFIED PARTLY BY CASH CONSIDERATION OF RM85,755,050 AND PARTLY BY ISSUANCE OF 88,721,000 NEW UNITS IN AL-`AQAR KPJ REIT AT AN ISSUE PRICE OF RM0.95 PER UNIT (“PROPOSED ACQUISITION”)
Al-`Aqar KPJ REIT are issued to the following vendors of the Properties (according to the proportions specified in their Sale and Purchase Agreements) :-(a) Pusat Pakar Darul Naim Sdn Bhd, the vendor of Perdana Specialist Hospital Building;(b) KSHSB, the vendor of KPJ Kajang Specialist Hospital Building; (c) SMCSB, the vendor of Sentosa Medical Centre Building; and(d) KSHSB, the vendor of Kuantan Specialist Hospital Building;
(KLSE 29-2-2008)
KLCC condo prices expected to double
LUXURY properties in the Kuala Lumpur City Centre, which cost around RM1,500 per sq ft now, could double in price once two new projects are launched this year, an industry executive said. They are the six-star Four Seasons Hotel and Four Seasons serviced apartments and Millennium Residences.“They are seen as the crème de la crème and will set a new benchmark pricing in the city area,” said Knight Frank Malaysia managing director Eric Ooi Yew Hock. Four Seasons, which will be built near the Petronas Twin Towers for RM1.6 billion, is a project by Tan Sri Syed Yusof Tun Syed Nasir and the Sultan of Selangor, Sultan Sharafuddin Idris Shah.Millennium Residences at Jalan Bukit Bintang, is being developed by City Developments (Malaysia) Sdn Bhd, which is part of Singapore’s Hong Leong group of companies for some RM500 million. Read more
(New Straits Times 1-3-2008)
UK varsity plans Iskandar campus
BRITAIN'S Newcastle University will set up its first international branch campus within the Iskandar Development Region (Iskandar), putting the price of medical studies within reach of Malaysians.South Johor Investment Corp Bhd (SJIC), the promoter of Iskandar, said the university will offer degree courses in medicine and bio-medicine studies."While the university's Iskandar campus is expected to be completed in 2011, the target date for the first intake of students will be for September 2009," SJIC said in a statement.Higher Education Minister Datuk Mustapa Mohamed handed over the letter of invitation to the university's dean of International Medical Education professor Reg Jordan in Johor Baru yesterday.Mustapa said students could get a Newcastle University medical degree at about half the cost of doing so in the UK.Read more
(New Straits Times 1-3-2008)
Company Announcement: CBS TECHNOLOGY BERHAD (MESDAQ Market)
ACQUISITION OF A PIECE OF VACANT INDUSTRIAL LOT KNOWN AS LOT 5, JALAN TEKNOLOGI, TAMAN SAINS SELANGOR 1, KOTA DAMANSARA, SITUATED IN THE MUKIM OF SUNGAI BULOH, DISTRICT OF PETALING, SELANGOR (“LAND ACQUISITION”) The Board of Directors of CBS Technology Berhad (“CBS”) wishes to announce that the Land Acquisition by Cyber Business Solutions Sdn Bhd, a wholly owned subsidiary of CBS had been duly completed on 29 February 2008 upon settlement of the final payment of the balance of the purchase consideration for the Land Acquisition.
(KLSE 29-2-2008)
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