MONTH: SEPT 2011 ISSUES: 09/2011

Property

News

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Issues 6: 1-31September 2011

GENERAL ECONOMIC & PROPERTY MARKET

1. Redha optimistic Over 2H 2011 property outlook (Bernama, 26-Sept-2011) . The Real Estate and Housing Developers’ Association Malaysia (REDHA), is optimistic over the property market for 2H 2011, given the positive growth outlook of Malaysia’s economy. . According to the REDHA president Datuk Seri Michael Yam, the property sector has a direct correlation to the economic condition as demand for properties increase during a booming economy. . The association anticipated the new launch of properties to scale upward in 2H 2011, property prices are also expected to move up during that time. . Based on the Property Industry Survey for 1H 2011, conducted by REDHA, property developers were

anticipating a 20% increase in the price of new launches in 2H 2011. PROPERTY & GENERAL ECONOMIC MARKET . The projection took into consideration the increase in the cost of production, due to the increasing cost of labour and building. . Despite the positive outlook for the 2H 2011, Yam add that demand for properties is expected to feel the impact on implementation of the 70% loan-to-loan value (LTV) mortgage cap on third properties. This is supported with evident from the survey where 50% of respondents (147 property developers) reported experiencing the impact on sales from the LTV mortgage cap implementation during the 1H of 2011.

2. Inflation may have peaked, says Zeti (Business Times, 27-Sept-2011) . Malaysia’s inflation has probably peaked and price pressures may ease as the global economy deteriorates, central bank governor Tan Sri Dr Zeti Akhtar Aziz said, joining neighbours in signaling less pressure to tighten policy. . She add that, interest rates are still at a level that is supportive of growth, which may be about the same or slightly better in the 2H of 2011 compared to 1Q 2011. . Europe’s debt crisis and a weakening US recovery are threatening growth in Asia as demand for the region’s export eases. Central banks from South Korea to Philippines have refrained from rate increases in recent months, with Bank Negara Malaysia keeping the benchmark overnight policy rate at 3% this month after four increases from early March 2010 to May 2011. . Tan Sri Dr Zeti Akhtar Aziz also mentioned that, Malaysia’s inflation slowed in August for the second straight month to 3.3%. Consumer prices will probably rise 3% to 3.5% in 2011.

3. Selangor records RM5.2 billion investments in first six months of 2011 (Bernama, 9-Sept-2011) . Selangor recorded investment of RM5.2 billion the first 6 months of 2011. . In a statement, the Selangor Menteri Besar’s office said the state received foreign investments of RM3.1

billion with local investments at RM2.1 billion. A total of 135 projects were approved from January to June this year and this will be opened up 9,847 job opportunities. . According to the breakdown by sector, the electronics manufacturing industry posted the highest investments at RM1.3 billion. . Japan was the biggest investor in Selangor with 13 projects involving an investment value of RM1.136 billion, followed by South Korea at RM652 million with 3 projects and Singapore with RM510 million with 8 projects.

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4. Malaysia likely to maintain key rate (Business Tines, 7-Sept-2011) . Bank Negara Malaysia (BNM) is expected to keep the main interest rate steady at 3.0% amid rising concern the global economy could slip into recession again. . The monetary policy will have to be pro-growth until the global economic outlook brightens up again. . As such, expectations are that BNM will leave Overnight Policy Rate (OPR), the benchmark key interest rate, unchanged as well as the statutory reserve requirement (SRR) at 4%. . BNM, now has even more justification to maintain its wait-and-see stance given the negative impact on global sentiment from recent developments in the United State and Europe.

LAND TRANSACTIONS

5. Development land sale in Tempat Sungei Kandis, Selangor (Bursa Malaysia, 29-September-2011) Location Tempat Sungei Kandis, Klang, Selangor Vendor Aus-Land Properties Sdn Bhd Purchaser Pembinaan Terasia Sdn Bhd (wholly-owned subsidiary of Tiger Synergy Bhd)

LAND TRANSACTIONS Land tenure Freehold Title details GM 2502, Lot 185 Mukim/ District Mukim of Klang, Tempat Sungei Kandis, District of Klang, State of Selangor Description N/A Land area 196,021.57 sq ft Price RM5,684,580 @ RM29.00 per sq ft Date of SPA 28 September 2011

6. Development land sale in Tempat Teluk Kumbar, Pulau Pinang (Bursa Malaysia, 7-September-2011) Location Tempat Teluk Kumbar, Pulau Pinang Vendor Puan Che Siah Bt Ibrahim

Purchaser PLB Land Sdn Bhd (wholly-owned subsidiary of PLB Engineering Bhd) Land tenure Freehold Title details Lot 908 GM 579 and Lot 1178 GM 447 Mukim/ District Mukim 9, Tempat Teluk Kumbar, Daerah Barat Daya, State of Pulau Pinang Description N/A Land area 254,006.75 sq ft Price RM4,200,000 @ RM16.53 per sq ft Date of SPA 6 September 2011

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7. Development land sale in Tempat Batu Gajah, Selangor (Bursa Malaysia, 6-September-2011) Location Tempat Batu Gajah, Klang, Selangor. Vendor Rima Waja Land Services

Purchaser Pembina Terasia Sdn Bhd (subsidiary of Tiger Synergy Bhd) Land tenure Freehold Title details GM 1927, Lot 1888 Mukim/ District Mukim of Klang, Tempat Batu Gajah, District of Klang, State of Selangor Description The land is currently a vacant land Land area 196, 020 sq ft Price RM5,880,600 @RM30.00 per sq ft Date of SPA 6 September 2011

8. Development land sale in Semenyih, Selangor (Bursa Malaysia, 5-September-2011) Location 1917, Off KM 29, Jalan Semenyih, 43500 Selangor.

Vendor Taiyo Resort (KL) Berhad LAND

Purchaser Tropicana City Service Suites Sdn Bhd (a wholly-owned subsidiary of Dijaya Corporation Bhd) Land tenure Freehold TRANSACTIONS Title details H.S.(D) 68253, PT No. 14533, H.S.(D) 68256, PT No. 14536, Geran No. 63194, Lot 12683 (formerly HS(D) 68257, PT 14537), Geran No. 53170, Lot 1258 and Geran No. 27675, Lot 32 Mukim/ District Mukim of Semenyih, District of Ulu Langat, State of Selangor Description The land is currently known as Kajang Hill Golf Club. Land area 8,648,383 sq ft Price RM228,000,000 @RM26.36 per sq ft Date of SPA 5 September 2011

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RESIDENTIAL PROPERTY IN KLANG VALLEY

9. Freehold boutique bungalows amid green landscapes (The Star, 23-Sept-2011) PROJECT NAME Templer Hills Location Selayang, Selangor Developer Rentak Arena Development Sdn Bhd Type 2½ to 4-storey bungalows Tenure Freehold No. of units 45 Built-up area 3,500 - 6,600 sq ft (vary in 5 designs) Selling price RM1.5 - RM3.0 million Completion Date June 2012 Features . Gated and guarded community with 24- hours security system. . Some units will have private pools. . The bungalows are nestled against a green landscape with its surroundings comprising primary and secondary Templer Hills jungle.

Incentives . Free 5 years maintenance fee. RESIDENTIAL . Free iPads to buyers upon successful loan approval and signing of Sales and Purchase agreement. . Special home buyers’ deal with savings on interior design package. Notes . Templer Hills is located about 20 minutes away from city centre, and is accessible via major roads and highways such as Jalan Kuching / KL-Ipoh Federal Road, MMR2 as well as DUKE Highway and LATAR Expressway. . It is located close to Selayang Hospital, Selayang Mall, Tesco Rawang, Pasar Borong Selayang,

Templer’s Park, Commonwealth Forest Reserve and Park and Templer Perangsang Golf and Resort. . The bungalows are 50% to 80% completed.

10. Seringin Residences sees brisk sales (The Edge Property, 23-Sept-2011) PROJECT NAME Seringin Residences Location Off , Happy Garden. Developer See Hoy Chan Sdn Bhd GDV RM500 million Type Condominiums and garden villas Development land area 6.4 acres Tenure Freehold Level / Block 25-storey / 2 blocks No. of units Condominium : 542 Garden villas : 10 Built-up area Condominium : 1,707 - 2,638 sq ft Garden villas : 2,928 - 4,024 sq ft Selling price RM530,000 - RM4,300,000 Maintenance fees RM0.26 per sq ft including sinking fund Selling performance 75% An Artist’s impression of Seringin Residences Facilities 3-tier security, swimming pool, gymnasium and racquet sport courts. Features . The project also offers a 2-storey Sustainable Application of Green Energy (SAGE) building

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featuring green building technologies, eco-friendly fittings and an organic roof garden. . On a 1.2-acre site, which is currently houses the project sales gallery and show units but will eventually be turned into a community centre for residents. Developer track records See Hoy Chan has also begun work on its 15-acre Damansara Uptown Phase II development and its Tujuh d’wangsa boutique homes in , KL, the latter which are due to be completed next month.

11. Hap Seng offers more Build-Then-Sell homes in D’ Alpinia (The Edge Property, 21-Sept-2011) PROJECT NAME Urbana @ D’ Alpinia Location Seri Kembangan Developer Hap Seng Lang Sdn Bhd Type 2½-storey bungalows 2 & 2½-storey link bungalows No. of units 2½-storey bungalows : 26 2 & 2½-storey link bungalows: 38 Built-up area 2½-storey bungalows : 4,749 - 5,845 sq ft 2 & 2½-storey link bungalows: 3,489 - 4,168 sq ft Selling price 2½-storey bungalows : From RM2.1 million 2 & 2½-storey link bungalows: From RM1.6 million Launching date 24 September 2011

Features . Large glass windows and generous garden RESIDENTIAL exteriors for bungalow homes. . Wide entranceway and generous balcony areas for link bungalow. . Built-in features such as solar heater, water filtering system, alarm system and autogate, air- conditioning units, bathroom accessories and shower screen as well as built-in kitchen cabinets with hood, hob and oven. An Artist’s impression of Urbana @ . All homes will be TM Unifi-ready. D’Alpinia Notes . The homes in the 76-acre D’ Alpinia are developed under the build-then-sell concept and is located within southern golden triangle of Puchong, Seri Kembangan and Putrajaya. . According to Datuk Paul Ng Kee Seng, chief executive of Hap Seng Land’s property division, properties in D’ Alpinia have seen an average capital appreciation of 20% since it was launched in 2009.

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 5 Issues 6: 1-31September 2011

12. LBS launches Balvia @ D’Island Residence (The Edge Property, 21-Sept-2011) PROJECT NAME Balvia @ D’Island Residence Location Puchong Developer LBS Bina Group Bhd Type 3-storey semi detached homes No. of units 74 Land area 3,200 sq ft Built-up area 4,864 sq ft Launching date 15 September 2011 Selling price From RM2.38 million An Artist’s impression of Balvia @ D’Island Features . Incorporates green technology and design. Residence . Light-emitting diode street lights and solar-powered lighting that illuminate outdoor spaces such as parks and walkways. . Each home also comes equipped with a rainwater harvesting system in which the water will be channeled for irrigation and other outdoor uses. This system will also be applied to outdoor spaces throughout the development. . Bicycle tracks, spacious pedestrian-friendly paths, community facilities and picnic ground will surround the development and encircle the lake. . Other amenities such as swimming pool, gymnasium, sauna, steam room, lounge and an activity centre are available in the clubhouse. Notes . D’ Island Residence provides resort style living in a fully integrated low density township boasting a spectacular waterfront, carefully landscaped lush greenery, good infrastructure and amenities, all within city limits. . Designed based on the island paradise concept with a spectacular lake as centerpiece, the RESIDENTIAL development spans over 175 acres of land surrounded by 1,000 acres of water. . D’ Island Residence is LBS’s first luxury residential development comprising bungalows, semi- detached homes, luxury superlinks and super condominium. . The first phase of the development’s 3-storey luxury superlinks Apicalia, with a limited 122 units and GDV of RM156 million, have been more than 90% sold since its debut in April 2011 at a launch price of RM270 per sq ft. D’ Island Residence has an estimated GDV of RM3.6 billion and is expected to take 5 to 7 years to complete.

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 6 Issues 6: 1-31September 2011

13. City & Country: Trilium aims to make its mark on Cyberjaya (The Edge Property, 11-Sept-2011) PROJECT NAME Trillium Location Cyberjaya Developer Tim Development & Construction Sdn Bhd GDV RM96 million Type Link homes Development land area 9.2 acres No. of units Phase 1: 22 Phase 2: 33 Total : 55 Tenure Freehold Land area 2,880 sq ft Built-up area 3,645 sq ft Selling price From RM1.6 million Selling performance Phase 1: 50% sold during soft launch on July 2 & 3 An Artist’s impression of Trillium Phase 2: Yet to be launched Features . Design: The exterior designed looks like a semi-detached house while it is actually joining together at the back. . Security feature: security alarm point with sensor points and CCTV points. . Standard green technology elements : Rainwater harvesting system, air-conditioning piping ideal for inverter system, exterior window feature louvers and solar film to tap natural light and heat and hot water storage tanks in most bathrooms.

RESIDENTIAL . Green space: 35% of the land has been set aside for green spaces. There will be 3 parks within the development known as Wood Land (0.9 acre), Water Wonder (0.6 acre) and Earth Park (0.5 acre), all are located between rows of homes and will be maintained by the developer for 2 to 3 years until a residents association is formed. Each park will have a distinct theme and landscape with amenities like a jogging track, outdoor gym and space for different generations to enjoy. Developer track To date, Tim Development & Construction has built homes with an estimatedGDV of RM125 million. records . Taman Bukit Mentakab, Mentakab, Pahang, comprising 167 units of 2-storey terraced homes (GDV : RM15 million)

. Taman Semantan Indah, Termerloh, made up of 30 units of 2-storey terraced houses. (GDV : RM3 million) . Taman Kajang Mulia, Kajang, made up of 266 units of 2-storey terraced houses and a block of 78 apartments which were completed in 1996. (GDV : RM22 million) . Batu Caves in Gombak, consisting of 170 units of apartments in 5 blocks. (GDV : RM18 million) Cyberjaya overview According to Jerome Hong, managing director of PA International Property Consultants (KL) Sdn Bhd: . Trillium’s development is timely as demand for housing in Cyberjaya has increased of late. . The rapid rise of Cyberjaya as the preferred location for ICT, multimedia and services for innovation and operation resulted in an influx of knowledge and multilingual workers that lead to increasing demand for housing over the last few years. . Prominent public listed developers such as Mah Sing, UEM Land, S P Setia, OSK and Glomac have acquired sizeable tract for development opportunities in Cyberjaya.

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14. City & Country : Small but commited (The Edge Property, 11-Sept-2011) PROJECT NAME Bandar Seri Coalfields Location Sungai Buloh, Selangor Developer KL- Country Homes Sdn Bhd ( wholly-owned subsidiary of Kuala Lumpur Kepong Bhd (KLK) Total GDV RM3.7 billion Development land area 1,000 acres Type Semi-detached homes, terrace homes, superlink homes, bungalow and shop offices No. of units Semi-detached: 129 (launched in mid July 2011) Superlink : 85 (will launch in October 2011) Shop offices: 80 (future launch) Tenure Freehold Built-up area Semi-detached : 3,066 sq ft Terraced : 1,960 sq ft Superlink : 2,400 sq ft Selling price Semi-detached : RM688,000 - RM890,000 Terraced : From RM308,000 Superlink : From RM450,000 Shop offices : From RM550,000 Notes . Bandar Seri Coalfields is coming up opposite the developer’s first township known as Desa Coalfields which was completed in 2009. . The township is located 12 kilometres from the proposed site of the mass rapid transit (MRT) station in Sungai Buloh and will house some 6,000 properties upon completion. Of the 6,000

properties in Bandar Seri Coalfields, 90% will be residences. RESIDENTIAL . Bandar Seri Coalfields will also comprise food courts, community halls, petrol stations, bus terminals, a wet market and government health clinics. . The developer hopes the project will be completed in the next 10 to 15 years. Developer track . KL-Kepong Country Homes’ first development was the high-end Sierramas in Sungai Buloh. This records began in 1990 via Kumpulan Sierramas (M) Sdn Bhd, a 50:50 joint venture between IGB Corp Bhd and KL-Kepong Property Holdings Sdn Bhd. Sierramas is almost completed except for some pockets of land. The next launch will be held at end 2011 or early 2012, which comprises 41 strata bungalows called Park Manor with a GDV of RM180 million offering contemporary

bungalows, with built-up areas from 5,000 to 6,000 sq ft. . In 2001, the developer launched Desa Coalfields, consisting of residential and commercial properties that have since been sold out. KL-Kepong Country Homes has completed over RM370 million worth of properties so far. Majority of the homes in the township are owner occupied. Desa Coalfields is now homes to more than 10,000 people. . Depending on the phase, the recent transactions in the secondary market were about 30% to 40% higher than the developer’s prices.

15. SHL to launch RM200m project by year-end (The Edge Property, 9-Sept-2011) . According to the finance director, Jack Wong Tiek Fong, SHL Consolidate Bhd plans to launch more residential units in its flagship development at Bandar Sungai Long in Kajang by the end of 2011. . The project, consisting of terraced houses and affordable homes, will span across 35 acres (14 hectares) in Sungai Long with a gross development value of RM180 million to RM200 million. . There will be 320 terraced houses with sizes ranging from 1,900 sq ft to 2,000 sq ft, while the affordable homes comprise 130 units of 815 sq ft each in two 5-storey blocks. . Wong expects take-up rates to be very good as SHL has received hundreds of registered potential buyers for the units. . Wong added, to date, SHL has about 550 acres of combined landbank in Cheras, Semenyih, Rawang, Batang Kali and Kuala Pilah. The landbank will be used for future residential and industrial developments, which is sufficient to sustain the company for 8 to 9 years of development.

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RESIDE

NTIAL

Issues 6: 1-31September 2011

16. Final block of Z Residence condo in to be launched this September (The Edge Property, 5-Sept-2011) PROJECT NAME Z Residence Location Bukit Jalil Developer Trinity Group Sdn Bhd GDV RM530 million Type Condominium Level / Block 26-storey / 4 blocks No. of units Tower A & B : 590 Tower C : 281 Tower D : 265 Total : 1,136 Development land area 2.7 hectares Built-up area Tower C : 1,302 - 1,407 sq ft Tower D : 1,032 - 1,407 sq ft An Artist’s impression of Z Residence Selling price Tower A & B : From 360 per sq ft Tower C : RM450,000 - RM650,000 (RM390-RM400 per sq ft) Tower D : Yet to be fixed. Selling performance 70% (790 units sold over 1,136 units)

17. Bandar Raya goes mid-range with Verdana (Business Times, 5-Sept-2011)

PROJECT NAME Verdana (Phase 1) RESIDENTIAL Location North of Mont’ Kiara Developer Bandar Raya Developments Bhd (BRDB) GDV RM800 million Type Condominium & garden villas Development land area 4.4 hectares (Phase 1 & Phase 2) Level / Block 6 & 25-storey / 3 blocks No. of units 298 Built-up area Condominium : 1,450 - 3,020 sq ft Garden Villas : 2,400 - 3,020 sq ft Selling price Condominium : From RM580 per sq ft Garden Villas : RM1.5 - RM1.9 million Selling performance 60% Launched date Early August 2011 (Phase 1) . Features Verdana will feature 70% of landscape garden, An Artist’s impression of Verdana recreational facilities and water features. . The bathrooms and kitchen will be fully fitted with branded appliances. Notes . Verdana is an extension of BRDB’s brand of cosmopolitan lifestyle developments and is the company’s foray into the mid-range segment. . According to BRDB chief marketing officer KC Chong, Phase 2 of Verdana will feature two towers and a block for garden villas. It will be offering more than 300 units and is slated to launch by end-2012. Developer track records . BRDB has been developing land in for 45 years and luxury apartments such as One Menerung and The Troika.

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18. High-end projects a big draw (The Star, 2-Sept-2011)

An Artist’s impression of Ambrosia An Artist’s impression of Clover

PROJECT NAME Ambrosia, Kinrara Residence Clover, Garden Residence Location Bandar Kinrara Cyberjaya Developer Mah Sing Group Mah Sing Group GDV RM97.2 million N/A Type Luxury bungalows and semi detached homes 2-storey semi-detached homes No. of units 37 N/A Built-up area Bungalows: From 5,656 sq ft (comes in 3 designs : Asteria, Begonia and Camelia) 3,213 sq ft and 3,823 sq ft Semi-detached (Daisy): 4,468 sq ft Selling price Bungalows: From RM3.2 million 3,213 sq ft : From RM1.5 million Semi-detached: From RM2.14 million 3,823 sq ft : From RM1.6 million

Selling performance 75% 32 units were booked over the weekend sale. RESIDENTIAL Features . Asteria Bungalows special feature are the . Gated and guarded development with 24-hour double volume ceiling in living area. security, lushly landscaped and offers exclusive . Selected Camellia units will have private clubhouse and other conveniences pools. Notes . Garden Residence, located off the Cyberjaya exit of the , enjoys a self sufficient and sustainable community living concept. N/A . The resort homes concept are complemented by The Promenade which comprises a resident’s clubhouse as well as communal retail complex for the convenience of residents.

RESIDENTIAL PROPERTY IN NORTHERN /EASTERN PENINSULAR

19. Property prices and demand up in Perak (The Star, 19-Sept-2011) . The delivery of residential properties in Perak is expected to hit about 10,000 units in 2011 compared with 4,582 units in 2010. . According to the recent Finance Ministry property market report, the delivery of housing units in Perak was 9,747 units in 2007, 6,513 units in 2008 and 8,496 units in 2009. . Real Estate and Housing Developers’s Association Perak chapter chairman Datuk Francis Lee mentioned that there was a significant change in the attitude of consumers in Perak towards the purchase of properties since the beginning of the year 2011. . The property prices in Ipoh have increased by about 15% over the past 1 year. The prices of double-storey terraced house has surpassed the RM200,000 mark selling at around RM240,000 in the Kinta District area, which is within 18 kilometres radius from Ipoh town. About 60% of the new property launches are located in Kinta District.

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. Lee added, the increase in property prices is largely caused by higher land cost, bureaucratic compliance fees and construction cost. Hence, this situation has prompted more locals in Ipoh to buy properties today as they fear that property prices may go up. . Despite of Kinta, Manjung is also one of the fastest growing districts in Perak. Property prices in Manjung have risen about 15% over the past 2 years.

Area Type of property Current Market Price Kinta 1-storey terrace house RM150,000 2-storey terrace house RM240,000 Manjung 1-storey terrace house RM150,000 - RM180,000 2-storey terrace house RM220,000

. Meanwhile, YNH Property Berhad corporate strategy head Danial Chan, said the group had so far launched mixed-development projects with an estimate gross development value (GDV) of RM525 million. . The projects include 300 units of shop-lots with GDV RM210 million, 500 units of double-storey terraced houses with GDV of RM100 million, the RM135 million AEON shopping mall and the RM80 million Pantai Hospital Manjung. . The Manjung township project by YNH is also expected to benefits from companies such as Vale International (SA) Ltd which is building a RM15 billion iron ore pelletising plant in Manjung. . The township is scheduled for completion in either 2013 or 2014, and the investment is expected to draw

more workers to Manjung. RESIDENTIAL . Kinta properties Holdings Sdn Bhd chief executive officer Eric Chew said in the first half of 2011, sales had improved by 30% compared with the previous corresponding period.

RESIDENTIAL PROPERTY IN SOUTHERN PENINSULAR

20. Residential land sale in Bandar Nilai Utama, Seremban (Bursa Malaysia, 21-September-2011) Location Kasia, Putra Nilai 71800 Negeri Sembilan Vendor Crystal Frontier (M) Sdn Bhd

Purchaser Meadowfield Sdn Bhd (subsidiary of Ireka Corporation Berhad) Land tenure Freehold Mukim/ District Mukim of Bandar Nilai Utama, Mukim of Setul and Mukim of Labul, District of Seremban, State of Negeri Sembilan Description The land comprising 213 pieces of freehold vacant lands held under individual document of title as list below : . 142 pieces of freehold land held under individual document title for proposed construction of 142 units of double storey terraced houses. . 96 pieces of freehold land held under individual document title for proposed construction of 96 units of semi-detached houses . 72 pieces of freehold land held under individual document title for proposed construction of 72 units of bungalows. . 2 pieces of freehold land held under individual document title for proposed construction of TNB substations. Land area 1,209,212.31 sq ft Price RM24,500,000 @ RM20.26 per sq ft Date of SPA 21 September 2011

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COMMERCIAL PROPERTY IN KLANG VALLEY

21. Commercial building transaction of Menara Multi-Purpose (Bursa Malaysia, 26-September-2011) Location Menara Multi-Purpose, Section 40, Kuala Lumpur Vendor Multi-Purpose Holdings Berhad Purchaser Malaysian Chinese Association Land tenure Freehold Title details Geran No. 43403, Lot No. 159, Section 40 Mukim/ District District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur Description . The gross parcel area: 704, 540.31 sq ft . Car parking bays: 414 . Building age: 17 years old . Occupancy rate : 99.07% (as at July 2011) . Gross rental per month: RM4.25 per sq ft (upper floors) - RM10.95 per sq ft (ground floor) Nett lettable area 541,424.20 sq ft Price RM375,000,000 @ RM693 per sq ft Date of SPA 26 September 2011

COMMERCIAL

22. Sunhor optimistic amid challenges (The Star, 24-September-2011) PROJECT NAME Tigaman Square Location Bukit Kemuning, Shah Alam Developer Sunhor Property Bhd GDV RM240 million Type Retail units and office suite (SoHo concept) Level / Block Retail: 3 levels Office suites: 1 level (2 levels of parking space) Development land area 7.69 acres Tenure Freehold Developer selling price Retail units: From 650 per sq ft An Artist’s impression of Tigaman Square Office suites: From RM375 per sq ft Completion date December 2013 Sales performance 20% Feature . The office suites will be partly furnished by Signature Kitchen, a leading player for branded modular kitchens. . Tigaman Square will also feature alfresco dining and roof gardens. . 35% to 40% of the Tigaman Square retail portion will comprises food and beverage (F&B). Notes . Tigaman Square is located within matured areas such as Kota Kemuning and Bukit Rimau. . According to Sunhor property Bhd Group managing director C.T. Lim, based on the recent demographic study, the population within a 5 kilometres radius of the Tigaman Square development stood at 426,706 people in 2010 and is expected to grow to 626,311 people by 2015. . It is easily accessible via major roads and highways like Lebuhraya Kemuning – Shah Alam and KESAS Highway.

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23. Commercial building transaction in Taman Perkasa (Bursa Malaysia, 22-September-2011) Location No. 10 & 12, Lorong 6E/91, Taman Shamelin Perkasa, 56100 Kuala Lumpur. Vendor Apparel International Sdn Bhd (a wholly owned subsidiary of Amtek Garment Sdn Bhd which is a wholly owned subsidiary of Amtek Holdings Berhad) Purchaser Kok Nen Oen Land tenure Leasehold (expiring on 11 September 2082) Title details Held under Master Title H.S.(D) 31201 and H.S.(D) 31202, Lot No. 11743 and 11744, Mukim/ District Mukim of Ampang, District of Kuala Lumpur, State of Wilayah Persekutuan Kuala Lumpur. Description The properties are currently erected with two units of 4-storey office buildings which are rented to 5 tenants for an aggregated monthly rental of RM9,480.00.

Built-up area 13,911.49 sq ft Price RM1,560,000 Date of SPA 22 September 2011

COMMERCIAL 24. City & Country: A boost for Damansara Jaya (The Edge Property, 18-September-2011) PROJECT NAME Atria Location Damansara Jaya, Petaling Jaya Developer OSK Property Holdings Bhd GDV RM1.0 billion Type Retail podium and office towers Level / Block Retail Podium: 5-storey Office towers: 16-storey / 2 blocks No. of units Office suites (a): 100 (one of the blocks only) Nett Lettable area Retail podium : 450,000 sq ft Gross floor area Office towers (a) : 310,000 sq ft Office towers (b) : 155,000 sq ft Built-up area Office suites (a) : 597 - 4,846 sq ft Office suites (b) : 11,840 - 13,100 sq ft floor plates (plans for en-bloc sale) Completion date Retail Podium : End of 2013 An Artist’s impression of Atria Office towers : End of 2014 or early of 2015 Developer selling price Office suites : From 700 per sq ft (estimated) Feature Retail podium: . The retail podium will have a roof garden with water features and will be open to the public. . OSK Property plans to retain the neighbourhood mall concept, although the development will feature a lot more food and beverage outlets that will take advantage of the al fresco concept of the retail compound. . 1,830 parking bays will be provided in 2 levels of underground parking and five levels of multi-storey parking. Office tower:

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. OSK Property is aiming for Green Building Index (GBI) certification for the two 16- storey towers above the retail podium. The towers will feature rainwater harvesting system, improved ventilation and sun shade, among other energy-saving measures. . It also plans to build 4 to 10 units of office suites per floor for office tower (a).

25. Whither retail space (The Star, 10-Sept-2011) . Property developers might have a problem filling their up-and- coming malls with prospective tenants given the shaky global economy and cautious consumer sentiment currently. This situation is compounded by the fact that Malaysia has an oversupply of retail space. . According to Henry Butcher retail managing director Tan Hai Hsin, total retail space for Klang Valley in 2010 is at 49 million sq ft. For 2011, it is expected to increase by 3.5 million sq ft with an expected 50 to 60 new shopping centers expected to be built in Malaysia. . Tan Hai Hsin mentioned that in general there is an oversupply of retail space throughout the country, adding that the greatest

challenge for shopping centers today is not about themes or COMMERCIAL concept but rather market saturation. . According to the National Property Information Centre (NAPIC) property market report 2010, the retail market continued to record substantial amount of take-up at 268,027 sq m (2009: 269,504 sq m). . The national occupancy rate reduced marginally to 80.2% compared with 81.5% achieved in the previous year. This was partially due to lower occupancy rate attained by the new completion at 38.0% (2009:

55.9%). . Construction activity continued to soften as depicted by lower construction starts at -2.3% against 2009. There were 28 buildings from 11 states commencing construction with a combined retail space of 420,255 sq m. New building plan approvals decreased by 57.6% from year 2009. . However, year 2010 witnessed more completion against 2009. The completions were recorded in 13 states including Putrajaya. A total 501,106 sq m of new retail space came on-stream bringing up the country’s total existing space to 10.59 million sq m. . Khong & Jaafar Sdn Bhd managing director Elvin Fernandez, said that despite the oversupply of retail space in Malaysia, average prime, ground floor rental rates of downtown shopping centres (namely Suria KLCC and Pavilion in Kuala Lumpur) and suburban shopping centres (Mid Valley in Kuala Lumpur, 1Utama and Sunway Pyramid in Selangor) have been holding steady at average RM50 to RM60 per sq ft and RM30 to RM35 per sq ft respectively. He also noted that even during the global economic crisis, rates remained fairly steady. . Elvin also added that he does not expect prices to shoot up any time soon given the volatility of global economy.

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 14 Issues 6: 1-31September 2011

26. City & Country : ‘Bite-sized’ product (The Edge Property, 4-Sept-2011) PROJECT NAME M City Icon City Trefoil Location Jalan Ampang, Kuala Lumpur Sungai Wei, Petaling Jaya Bandar Setia Alam, Shah Alam Developer Mah Sing Group Berhad Mah Sing Group Berhad Bandar Setia Alam Sdn Bhd GDV RM1.4 billion RM3.2 billion RM450 million Type SoHos (mixed with residential SoVos (mixed with 30 Jewel-7 SoFos (Part of the commercial suites, sky villas and boutique and 8-storey lifestyle shop precinct of Setia City) 3-storey shops) offices and retail shops.) Development land area 4.7 acres 19.6 acres 240 acres Tenure Freehold Leasehold Freehold No. of units 401 410 1,500 Built-up area 781 - 1,330 sq ft 745 - 1,094 sq ft 485 - 790 sq ft Developer selling price RM700 per sq ft From RM599,000 RM245,000 - RM450,000 Launching date May 2011 N/A July 2011 Selling performance N/A 36% 60% of 1,020 units launched Feature . Both of the developments are offering mainly duplexes units . Trefoil SoFos does not have and these units will be served with lifts at both levels. internal partitions. This will . Each level will have its access point. This will allow buyer to allow owners to customize rent the unit as a 2-storey unit or 1-storey unit. their units as they see fit. . Both of the products also have double volume height ceiling . Besides, owner can also buy COMMERCIAL of 21ft to 22ft, allowing buyers to create a mezzanine floor. two units side by side and choose to erect an internal connection. . This offers buyers greater flexibility to create a property of their choice - be it residential or commercial.

COMMERCIAL PROPERTY IN NORTHERN /EASTERN PENINSULAR

27. Menara IJM office building sale, Penang (Bursa Malaysia, 22-September-2011) Location Menara IJM Land, No. 1, Lebuh Tunku Kudin 3, 11700 Gelugor, Penang Vendor IJM Properties Sdn Bhd Purchaser Ewein Land Sdn Bhd Land tenure Freehold Title details Geran No. 77968, Lot No. 777 Mukim/ District Town of Bandar Jelutong, District of Timur Laut, State of Pulau Pinang Description . The building is a 16-storey office building with 7-storey car park . Occupancy rate : 97% Land area 46,823 sq ft Nett lettable area 185,909 sq ft Price RM50,000,000 Date of SPA 22 September 2011

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COMMERCIAL

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COMMERCIAL PROPERTY IN SOUTHERN PENINSULAR

28. Commercial land sale in Bandar Sri Sendayan (Bursa Malaysia, 29-September-2011) Location Bandar Sri Sendayan, Negeri Sembilan Vendor Gardenia Success Sdn Bhd

Purchaser BSS Development Sdn Bhd Land tenure Freehold Title details Geran 218970, Lot 1118 and Geran 218971, Lot 1119 Mukim/ District Town of Bandar Sri Sendayan, District of Seremban, State of Negeri Sembilan Description The land is currently a vacant commercial plot. Land area 6,968,555.60 sq ft Price RM52,264,116 @ RM75.43 per sq ft Date of SPA 29 September 2011

29. Johor Premium Outlets to open in November with more than 80 stores (The Edge Property, 7-September- 2011) . Johor Premium Outlets, South East Asia’s first Premium

COMMERCIAL Outlet Center, is set to open on schedule in November with more than 80 stores. . The project is being developed by Genting Simon Sdn Bhd, a joint venture between Genting Berhad and Simon Property Group. . The 330,000 sq ft centre in Johor will feature more than 80 upscale outlet stores offering savings of 25% to 65%.

. Some of the brands to be featured include Armani Exchange, Burberry, Canali, Coach, DKNY, Giorgio Armani, Johor Premium Outlets Gap Outlet, Lacoste, Tumi, Michael Kors, Levi’s and Switch Watch Gallery.

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HOTEL

30. More hotel rooms for Iskandar region, says Ghani (Bernama, 25-Sept-2011) . By 2014, the number of hotel rooms in the city is expected to hit 3,000, which is enough to cater for the demand of the Iskandar Malaysia region. . According to the Menteri Besar Datuk Abdul Ghani Othman, Johor is poised for rapid growth as development in the Iskandar region gather pace. Certainly it needs more rooms to cater for travellers, tourists and those who choose to live and work in the region. . He also added that as the pace of investment in Iskandar quickens, the demand for hotel rooms and service apartment is also expected to increase. . The hotel industry in the state, particularly in this city, was entering an interesting phase which include:  Plans for a 600-room hotel in the Premium Outlet in Kulaijaya, which is expected to open in November, has been submitted.  At Danga Bay, a developer is planning to build a 300-room hotel, complete with a service apartment.  In Desaru, 3 more international-class hotels are being planned. The Shangri La Group will oeperate a 292-room hotel at Puteri Harbour in Nusajaya and the 300-room Renaissance Hotel in Permas Jaya will open its door by middle of 2012.

31. Hotel Istana to come down (Business Times, 23-Sept-2011)

. Tradewinds Corp Bhd (TCB) TCB has been granted a development order to demolish for the 20-year old HOTEL Hotel Istana, located at the corner of Jalan Raja Chulan and Jalan Sultan Ismail. . Sitting on a freehold land measuring 11,803 sqm, Hotel Istana spans over 25-storey with a room inventory of 516 rooms.

. TCB which is controlled by tycoon Tan Sri Syed Mokhtar Al-Bukhary, had last year been granted an order that would allow it to bring down the 39-year old Crowne Plaza Mutiara Hotel and the 32-years old Kompleks Antarabangsa. . The demolishment of these assets is to make way for a “multi-billion-ringgit” mixed commercial development. . The project will be dubbed the “Tradewinds Centre” which is said to involve a total gross area of 3.17 million sq m.

32. Harrods hotel in Kuala Lumpur (Business Times, 23-Sept-2011) . World famous department store Harrods is opening a hotel in Kuala Lumpur. . According to Kuala Lumpur city mayor, Tan Sri Ahmad Fuad, a consortium of 3 developers is proposing to build the Harrods Hotel. However, the submission for the Harrods project is yet to be made. . In October 2010, it was reported that a “Harrods Hotel” was being considered for the rooftop of the store in Knightsbridge. . Tan Sri Ahmad Fuad added, this hotel will be located at Jalan Conlay, near the Restaurant Seri Melayu which is currently belongs to Amcorp Group Bhd. The land is actually leased from Lembaga Kraftangan Malaysia.

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33. Holiday Villa KLC banks on medical tourism (The Edge Property, 23-Sept-2011) PROJECT NAME Holiday Villa KLCC Location Jalan Mayang, Kuala Lumpur Developer Holiday Villa Hotels and Resorts Group Development Cost RM95 million (203 rooms) Type 4-star hotel Level / Block 25-storey / 1 block Development land area 12,000 sq ft Completion date 2013 Features Holiday Villa KLCC will feature an Executive Prima Floor which comes with private meeting rooms and lounge for business travellers, a 24-hour restaurant with Malaysian fusion al fresco dining, banquet and conference facilities for 300 persons, 5 meeting rooms, a business centre, gymnasium, indoor and outdoor swimming pools, wellness centre, health spa, hair salon and surau. To ensure ample parking, the hotel plans to An Artist’s impression of use a 7-level mechanical carpark system. Holiday Villa KLCC Notes . In line with the group’s plan to attract medical tourists, the hotel will have a wellness and hydro therapy centre, disable-friendly facilities as well as a health spa. Healthy organic food will also be served. . It is also targeting business travelers hence all rooms will feature a “bedroom and boardroom concept”. These hotel rooms can be converted to meeting rooms using a design which allows

guest to fold their beds into the wall. HOTEL Developer track . The Holiday Villa Resort and Hotel Group have 24 years of experience in the hospitality line. records Currently the group has 31 hotels and resorts in 11 countries. The company’s best performing hotels are in Qatar, Langkawi, Paris and Subang Jaya.

34. Hotel prices in Malaysia continue to rise (The Edge Property, 13-Sept-2011) . Hotel rates in Malaysia have increased in the 1H 2011, according to the latest Hotels.com Hotel Price Index (HPI). . Prices rose to an average of US$123 (RM371.46) per room per night in Malaysia, an increment of 6% from 1H 2010. . The HPI found hotel rates to be volatile due to political unrest and natural disasters in 1H 2011 compared to the same period last year. Currency strength and supply of rooms also impacted average room prices.

35. Kosmopolito to build another hotel in KL (Business Times, 8-Sept-2011) . Kosmopolito Hotels International Ltd, a subsidiary of Far East Consortium International Ltd, plans to build another hotel in Kuala Lumpur next year. . At present, works are being done to get itself ready to launch its first hotel in Cheras under the brand name Silka before the end of 1Q 2012. The hotel is expected to be part of a new mall, which is located at where Plaza Phoenix used to be. . In Kosmopolito’s pipeline are 2 projects in Kuala Lumpur. Directly across the hotel, there’s a Sri Jati Service Apartment, which the company plans to tear down, rebuild and turn into a budget hotel. It has received the local authority’s approval and works on the development and construction should start next year, ideally after Chinese New Year. . It currently has 5 hotels in Malaysia including Grand Dorsett Subang, Dorsett Regency KL, Grand Dorsett Labuan, Silka Hotel Johor Baru, and Maytower Hotel & Serviced Residences KL.

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 18 Issues 6: 1-31September 2011

INDUSTRIAL

36. City & Country : Banking on Tiong Nam’s industrial heritage (The Edge Property, 25-Sept-2011) . Tiong Nam Logistics Holdings Bhd (TNLH) has been involved in property development over the past 25 years. It has experience in building and leasing back warehouses. . Besides warehouses, TNLH also builds shops, showrooms and workshops for sale and lease, and configures them according to the needs of its customers. . So far, the group has built these properties across Malaysia and ventured into Thailand and China, albeit on a small scale, with one-off warehouses. Tiong Nam Logistics Holdings Bhd’s (TNLH) current and future projects includes:

Project Description . Location: Alam Megah in Section 33 of Shah Alam . Development land area: 3.7 acres . Tenure: Freehold . No. of units: 10 units Alam Premier . Built-up area : 7,900 - 14,500 sq ft Industrial Park . Land area: 9,500 - 20,679 sq ft . Selling price: RM4.4 million - RM8.1 million. . Selling performance: 70% . Launching date : March 2011 . Location: Section 51, Petaling Jaya INDUSTRIAL . Development land area: 7.66 acres . Tenure: Leasehold . Type : 3-storey semi-detached corporate factories . No. of units: 19 units (18 units of semi-detached factory and 1 unit of detached factory) . Built-up area : 7,700 - 14,000 sq ft . Land area: 9,000 - 20,000 sq ft Tiong Nam Industrial . Selling price: From RM4.7 million Park . Selling performance: 50% . Features:  The ground floor of the factories has a ceiling height of 20ft while on the upper floors, it is 13ft.  1.5 tonnes service lift with door width of 1.3m.  3-phase 200 amp power supply.  The ground floor can withstand forces of up to 7.5 newton per sqm. . TNLH Units Terminal Perintis Sdn Bhd acquired a 3.23-acre tract from UEP Land Holdings Bhd unit UEM Land Bhd for RM30.95 million in June 2011. Puteri Harbour, . TNLH plans to build a hotel and service apartment there. Nusajaya . Since the number of hotel rooms and units of serviced apartments have not been firmed up, the development cost of the both project have been estimated at RM156 million. . TNLH will also develop retail properties and service apartments on a 8.5-acre parcel in Shah Shah Alam Alam. The GDV and specifics of this project have also not been firmed up.

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37. Lake 6 Entrepreneurs Park 70% sold (The Edge Property, 15-Sept-2011) PROJECT NAME Lake 6 Entrepreneurs Park (Phase 1) Location Puchong Developer Mitraland Group GDV RM200 million Type 3-storey semi-detached and detached factories Development land area 20 acres Tenure Leasehold 99 years Built-up area Semi-detached : 5,465 sq ft Detached : 9,600 sq ft Developer selling price Semi-detached : From 598 million An Artist’s impression of Detached : RM4.00 - RM4.56 million Maintenance fees RM400 per month Lake 6 Entrepreneurs Park Sales performance 70% Feature . 4-in-1 concept within a single unit of factory that can be utilized as a warehouse, factory, showroom or office. . 24-hour security patrolling services and CCTV surveillance. . Bordering by a lake which will be equipped with lush landscape to add esthetic value to the property. Notes . Lake 6 Entrepreneurs Park is the Phase 1 of the 63 acres Lake 6 mixed development. Future

INDUSTRIAL plans for the area include residential and commercial developments. . The development is well linked to Subang Airport, Kuala Lumpur International Airport and Port Klang via major highways such as the Federal Highway, Lebuhraya Damansara-Puchong and North-South Highway. . Due to its strategic location, of the development hopes to tap onto the Puchong population of 420,000 to provide a skilled workforce.

38. Factory sale in Bayan Lepas, Penang(Bursa Malaysia, 9-September-2011) Location Lot 1240 & 1241, Bayan Lepas Free Industrial Zone, Phase 3, Bayan Lepas, 11900 Penang Vendor GUH Electrical Appliances Sdn Bhd Purchaser Tatt Giap Group Berhad Land tenure Freehold Title details Held under Geran Nos. 448 and 450, Lot Nos. 1628 and 1630, Mukim/ District Mukim 12, District of Seberang Perai Selatan Description The property is a freehold industrial land with an office block and double-storey factory erected thereon. Land area 222,548.04 sq ft Price RM18,800,000 Date of SPA 9 September 2011

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39. Industrial land sale in Kajang, Selangor (Bursa Malaysia, 8-September-2011) Location Bukit Angkat Industrial Zoning, Section 76, Kajang, Selangor Darul Ehsan. Vendor Borncity Development Sdn Bhd Purchaser Ireka Engineering & Construction Sdn Bhd (a wholly-owned subsidiary of Ireka Corporation Berhad) Land tenure Freehold Title details Geran 53316, Lot 1084, Section 76 Mukim/ District Mukim of Kajang, District of Ulu Langat, State of Selangor Description The purchaser intends to develop the Property into a gated and guarded mixed-use industrial development. Land area 897, 062 sq ft

Price RM22,426,558@ 25.00 per sq ft

Date of SPA 8 September 2011

40. Industrial land sale in Bandar Sulaiman, Klang (Bursa Malaysia, 2-September-2011) Location No. 5 Solok Sultan Hisyamuddin 1, Kawasan 20, Kawasan Perusahaan, Bandar Sulaiman, Selat Klang Utara, 49200 Pelabuhan Klang, Selangor Darul Ehsan.

Vendor Klang Hock Polystyrene Industries Sdn Bhd INDUSTRIAL Purchaser New Top Win Corporation Sdn Bhd Land tenure Leasehold (expiring on 12 December 2092) Title details H.S (M) 14243, PT No. 20214 Mukim/ District Mukim of Kapar, District of Klang, State of Selangor Description N/A Land area 1,186,269,480 sq ft Price RM18,500,000 Date of SPA 2 September 2011

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INFRASTRUCTURE & AMENITIES

41. New traffic system will ease congestion, say developer (The Star, 23-Sept-2011) . The developer of Setia Walk in Pusat Bandar Puchong is confident that its proposed traffic system will help to ease congestion in the area. Setia Walk is a development comprising residential, office and retail outlets. . According to SP Setia divisional general manager, Wong Tuck Wai, it had appointed an experience traffic consultant and road safety auditor to assess the traffic and the proposal had been examined by the Malaysia Highway Authority, Subang Jaya Municipal Council (MPSJ) and concessionaire of Damansara-Puchong Highway (LDP) Litrak. . The study concluded that current road capacity was not sufficient to meet the demand and therefore, major recommendations were made. The recommendation includes: Recommendation . The existing 3-lane slip road will be upgraded to 6 lanes, thus doubling the road capacity leading to the LDP. . The junction of Persiaran Wawasan and LDP will be upgraded to an efficient two-phase signal junction INFRASTRUCTUREAMENITIES & with 3 lanes from Persiaran Wawasan and another 3 new lanes from LDP, replacing the existing priority junction. This will help to minimize or eliminate weaving conflict thus enhance overall safety.

42. WCT wins MAHB concession for KLIA2 integrated complex (The Edge Property, 23-Sept-2011) . WTC Bhd has signed an agreement with Malaysia Airports Holdings Bhd (MAHB) and Segi Astana Sdn Bhd to privatise the construction, development and financing of the integrated complex at KL International Airport 2. . This agreement is on a build-operate-transfer basis for a concession period of 25 years, with an option to extend it a further 10 years. . On 22 September 2011, MAHB has granted WCT the sole and exclusive right and authority to design, construct, manage, operate and maintain the integrated complex as well as arrange for any necessary financing that may be required in relation to the project. . The integrated complex includes a transport hub for the Express Rail Link (ERL), buses, taxis, car rental services and private transport, a commercial complex consisting of a shopping mall with a net lettable area of some 350,000 sq ft and car park with around 6,000 parking bays. . The construction cost, which is estimated at RM530.3 million, will be funded through a combination of external borrowings by Segi Astana and shareholder’s equity. It will be transferred at no cost to MAHB when the

concession expires.

43. AZRB to build teaching hospital in Kuantan (Business Times, 22-Sept-2011) . Ahmad Zaki Resource Bhd (AZRB) has signed a 25-year concession agreement with the government to build a teaching hospital in Kuantan, Pahang. . AZRB’s unit Peninsular Medical Sdn Bhd inked the agreement with the Ministry of Higher Education (MOHE) and International Islamic University of Malaysia (IIUM) for the design, build, lease, maintenance and transfer to IIUM Teaching Hospital. . According to the AZRB’s chairman Raja Datuk Seri Aman Raja Haji Ahmad, the project valued at RM412.6 million will be built in Bandar Indera Mahkota, Kuantan, Pahang. The IIUM Teaching Hospital, with 300 beds for inpatients, has the capacity for 735 students. . Under the concession agreement, Peninsular Medical will build the hospital within 3½ years and maintain it for 21½ years.

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. The construction is expected to begin in January 2012 and to be completed in June 2015. The hospital will house various medical disciplines, which includes surgical and medical sub-specialities in the areas of Internal Medicine, surgery, oncology cardiology neuroscience, obstetrics and pediatrics among others.

44. Transforming Penang (The Edge Property, 21-Sept-2011) . The Penang government is mulling over RM8 billion worth of projects to enhance connectivity with the state, apart from resolving its traffic woes.

Proposal Description . This project concerns a third link that involves an underground tunnel from Gurney Drive to Bagan Ajam on the mainland. Proposal 1 . The 7-kilometres long tunnel is roughly a third of the span of the second Penang bridge. It is estimated to cost around RM5 billion. . The second project involves building an underground tunnel from Gurney Drive to Jelutong Expressway. The third is an alternative road connecting Gurney Drive right up to Batu Feringhi. Proposal 2 . The state government is considering calling for request for proposal (RFPs) by end of 2011, ahead of the targeted commencement of these projects towards end 2012. INFRASTRUCTUREAMENITIES & . The Penang government might issue an RFP for the development of an integrated waterfront and seaport in George Town, where the Swettenham Pier is located. . Under the deal, the state government is planning to transform a 14,000 sq m area around the new cruise terminal complex that was completed in November 2009 for RM65 million. This would Proposal 3 encompass the old Swettenham Pier building and an extension where a tourist arrival and wharf for large ships and ferries are sited. . The project is expected to complement a RM351 million job to deepen the northern section of Penang Channel from 12m to 15m that has been delayed for more than a year. It was originally scheduled to take 18 months to complete.

45. Pantai plan three new hospitals (Bernama, 13-Sept-2011) . Pantai Holdings Bhd plans to expand its foothold in the country by expanding its hospital network through 3 new hospitals with a total investment of RM720 million. . Pantai Holdings Bhd Chairman, Khairil Anuar Abdullah, mentioned that the 3 new hospitals were scheduled to be operational within 3 years. . These hospitals will be developed in Medini Iskandar, Kota Kinabalu and Manjung Perak. Upon completion of these 3 new hospitals, Pantai Hospital will have a network of 11 hospitals throughout Malaysia under two

brands – Pantai Hospitals and Gleneagles Hospitals.

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 23 Issues 6: 1-31September 2011

OVERSEAS

46. SP Setia plans second Aussie project with RM772m GDV (The Edge Property, 23-Sept-2011) . SP Setia Bhd is expanding its landbank in Australia with an investment of RM81 million for its second property project in Melbourne with an estimated gross development value of A$250 million (RM772 million). . On 23 September 2011, its wholly owned subsidiary SP Setia International Ltd had entered into a contract of sale with Portbridge Pty Ltd to acquire the freehold land measuring 2.23 acres in the South Yarra suburb in Melbourne. . According to SP Setia Bhd, the land was a prime corner development site on Australia’s premier boulevard, St Kilda Road and was also linked to the Melbourne public transportation network with the Moubray Street tram station located just opposite the site. . It also added, South Yarra had seen a high influx of young professionals attracted by the suburb’s close proximity to the Melbourne central business district. . Furthermore, the acquisition followed its maiden Fulton Lane project, which had received tremendous support and interest particularly amongst its existing Malaysian customers. . SP Setia mentioned that the land would be developed into an apartment project, with an estimated gross development value of A$250 million.

47. New London luxury apartment to launch (The Edge Property, 13-Sept-2011) OVERSEAS . UK-based Berkeley Group will be launching in Malaysia its next luxury apartment project in Greenwich, London, known as the Quartermaster’s Apartments at The Warehouse No 1 Street, at this end of September. The project launch / exhibition will be held at JW Mariott KL. . The luxury apartments are located at Royal Arsenal Riverside in Woolwich, in the London Borough of Greenwich. . The development includes suites, Manhattan Suites, and one, two and three bedroom apartments and penthouses with high quality interior finishing and open plan living area. . It boasts views towards the River Thames. A right to park in the underground car park is available for purchase. . The Quartermaster’s Apartments offer an enviable investment opportunity in a historic riverside setting, which is ideally placed for both business and pleasure, with superb transport links to airports, attractions, educational establishments and the financial district of Canary Wharf and the City. . The area is one of the southeast London’s main transportation hubs with overground railway links to London Bridge, Waterloo and Charing Cross stations. The Docklands Light Railway links the area directly to London City Airport, Canary Wharf and Strafford International, the site of the 2012 Olympic Village. Crossrail, the new high speed underground line will also be coming to Woolwich providing super-fast connections to central London Heahthrow Airport. . The development is also close to London’s leading universities such as the Trinity College of Music and is easily accessible to other institutions. . Prices for the Quartermaster’s Apartment start from £149,950 (RM718,398.25), and Berkeley is exclusively offering a 6% rental guarantee for 12 months during the KL exhibition. . Completion is expected to be from Winter 2011/2012 to Spring 2012.

-End-

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