ECONOMIC OVERVIEW Property launches

Apartments / Condos / Townhouses Key statistics Latest release Previous rate

Two storey terraced houses Quarterly GDP growth 4.8% (4Q2010) 5.3% (3Q2010)

Two & half storey terraced houses

Three storey terraced houses Annual GDP growth 7.2% (2010) -1.7% (2009)

Two storey semi detached houses Consumer Price Index (CPI) 3.0% (Mar-11) 2.9% (Feb-11)

Two & half storey semi detached houses Industrial Production Index (IPI) 101.0 (Feb-10) 109.3 (Jan-11) Three storey semi detached houses

Three storey semi detached houses Base Lending Rate (BLR) 6.27% (Mar-11) 6.27% (Feb-11)

Two storey detached houses Exchange rate: RM to US dollar RM3.02 (31/03/11) RM3.07 (03/01/11)

Three storey detached houses Source: Department of Statistics Malaysia & Bank Negara Malaysia

Major News According to the Department of Statistics, Malaysian economy recovered in 2010, recorded a 7.2% growth for the whole of 2010 as compared to negative New hotel aims to attract exhibitors 1.7% in 2009. The Services and Manufacturing sectors continued as the main Langkawi all geared up for 2.5m visitors contributors in the supply side while the demand was driven by the domestic

Iskandar atracts RM64.38bil investments... consumptions, mainly the Private Final Consumption Expenditure and Gross

RM1.46b island project revived Fixed Capital Formation.

IJM Land falls, MRCB up after merger off

PLUS connection in MK Land's sale of… Although the Bank Negara Malaysia (BNM) has maintained its Overnight Policy Rate (OPR) at 2.75% during the first quarter of 2011, the central bank has Perak as hub for the arts increased the Statutory Reserve Ratio (SRR) from 1% to 2% on 12th March Prasarana to get part of RRIM land for… 2011. The increase in the SRR is to manage the risk of excess liquidity from

Sungkai technology park gets RM3b… large shifts in capital flows into the Asian region. Launched -Sunway Nexis with RM500m...

City Walk will have 50 kiosks selling a… BNM has also announced that a new guideline to control the household debts

Fitters debuts with ZetaPark will be introduced in third quarter of 2011. Despite the above measures, BNM

YTL Land to launch Capers in Q1 has indicated that the country’s monetary policy will remain supportive of

Shopping haven plan for Tasik Kenyir growth however the degree of accommodation would be reviewed and subject to the rising prices to ensure sustainable economic growth. Mah Sing to extend Garden Residence

Bungalow project to launch this month… Inflation continued to rise, recording 3% growth for March 2011, higher than the

Perak Corp, PKNP launch township 2.9% in February 2011. The country’s inflation increased by 2.8% during the A 'green city' to rise in Ipoh first quarter of 2011 compared with the corresponding period in 2010. During the

Bukit Kiara Properties to venture outside... first quarter of 2011, Alcoholic Beverages & Tobacco recorded the highest

Boustead in talks to buy army base land… growth at 6.4%, followed by Restaurants & Hotels (5.1%), Transport (4.4%),

Overhelming interest for Sunway Merica... Food & Non Alchoholic Beverages (4.3%) and Non Durable goods (4.3%). New project a boon for Ibraco Malaysia’s exports registered a significant growth of 10.7% to RM51.8 billion Ivory to offer seaview villas in Batu… while imports rose by 11.5% to RM39.2 billion, year on year. Both exports and LCH plans to buy AP Land for RM305m imports recorded a decrease of 5.5% and 12.6% as compared to the RM54.8 Guocoland to launch Damansara City 2… billion and RM44.8 billion of exports and imports in January 2011, respectively. Sunway unit wins Singapore land deal… SEGi to build branch campus in Perak The increase was attributed to higher exports of electrical & electronics products,

Firm to embark on RM3 billion project gas, natural and manufactured. The growth in imports was contributed mostly by

Sime plans 15 property launches by June fixed vegetable oils & fats, crude, refined or fractionated, petroleum, petroleum products & related materials, iron & steel and coal, coke & briquettes.

Others

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The applications for housing loans have been on the downward trend since the Mega Deals implementation of the 70% loan to value (LTV) guideline for the third or more houses were implemented in November 2010. The housing loan application fell MK Land sells land for RM130m to RM10.26 billion in February from RM12.56 billion in January 2011. Hua Yang sells retail units

Tomei to sell KL land to Oasis Japan, the third largest economy in the world, was hit by earthquarke, tsunami Pelangi Publishing acquires Johor land… and nuclear power plants crisis in March 2011. While some manufacturers

Mammoth Empire buyer of Damansara… expected delay in the supply of raw materials from Japan, the crisis is not

Nam Fatt sells Klang land for RM24.90psf expected to adversely affect the Malaysian economy. Many manufacturers are

Axis-REIT to sell Port Klang complex looking at other alternative sources, such as United States and Germany.

Jetson Development buys land in Penang Malaysia’s retail sales expanded 8.4% to RM77 billion in 2010. Retail Group IOI Corp exchange land with Mayang Malaysia (RGM) estimates the retail sales in the country to grow by 6% in 2011, SP Setia bags land in Jalan Bangsar higher than the 5% growth forcasted earlier. RGM also anticipates a tough year AmCorp completes UK buy for retailers in 2011 affected by various issues, namely rising raw material costs, Bina Puri unit buys land in KK for M4.5m transportation costs and others.

Glomac buys land

At RM77mil for 200 acres leasehold… The crude oil prices increased to over US$100 per barrel when the violence in

Tambun Indah unit buys land in Penang Libya as well as the unrest in other parts of Middle East had affected the supply of crude oil in the market. The increasing crude oil prices are expected to Seacera disposes Selayang land for M62m contribute to the increase in the inflation rates world wide. Equine unit calls off land purchase deal

Tien Wah Properties to sell land in Klang Malaysia and Turkey will complement each other when a free trade agreement is Wing Tai buys Jalan Tun Razak land for... signed in May 2011. International Trade and Industry Minister indicated that Setia Indah to acquire 106ha in Johor Baru Malaysia would serve as Turkey’s gateway to the emerging ASEAN market

SP Setia acquires 265.7-acre land in Johor while Turkey would be Malaysia’s gateway to the vast European market.

Tiger Synergy buys land

GSB sells Jalan Kapar hotel for RM22m Consumer confidence in Malaysia rose four (4) points to 107 points in fourth quarter of 2010 from the preceding quarter to reach its highest since the third quarter of 2006 according to the latest findings of Nielsen Global Consumer Others Confidence Index. This strong sentiment also positioned Malaysia in the ninth Retail Corner place globally, along with Saudi Arabia, ahead of Sweeden and Vietnam (both at 103), Thailand (102), China (100), Hong Kong and New Zealand (both at 99). Nine-storey mall for Cheras Carrefour opens first store in India Foreign Direct Investment (FDI) inflows to Malaysia totaled US$7 billion

Hypermart opens two more stores in… (RM21.4 billion) in 2010, compared with US$1.4 billion in 2009, reflecting an

‘Retail Merchant Of The Year’ award for.. impressive growth of 409.7%. This was the highest growth in the region as well

Rasa Sayang first to offer local cuisine… as among the 153 economies surveyed by the United Nations Conference on

Tesco to spend big on expansion Trade and Development (UNCTAD). Penang has attracted RM12.2 billion worth of capital investments in 2010, the highest in the country and 465% increase from First hypermarket for Port Dickson 2009. QSR to open 20 new Pizza Hut outlets

Poh Kong to open three new outlets this… Goldman Sachs has raised Malaysia’s 2011 Gross Domestic Products (GDP) QSR to spend RM40m on new outlets… growth forecast to 5.5% from 5.2% previously, driven by robust domestic

Harvey Norman plans Klang Valley… demand. The forecast is in line with the government’s projection of between 5%

Developer to spruce up mall area and 6%. It has also revised its forecast on Malaysian ringgit to RM2.98, RM2.90

Furniture retailer opens 4th outlet and RM2.85 against the US Dollar from RM3.00, RM2.95 and RM2.90 in three (3), six (6) and nine (9) months, respectively. Domino’s targets 15 outlets outside…

Others

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PROPERTY LAUNCHES

Minimum Minimum selling No Project Developer Units sizes (Sq Ft) prices Apartments / Condominiums / Townhouses 1. The Elements @ Ampang Mayland 1040 610 RM 508,800 Development SB

2. Panorama Residences @ Sentul ECS Mutiara S Bhd 435 935 RM 330,000

3. KM1 West condominium @ Berjaya Golf Resort 350 1335 RM 599,800 Bukit Jalil Bhd

4. PARC @ One South, Seri Huayang 418 1014 RM 305,800 Kembangan

5. 6 CapSquare Capital Square S Bhd 176 1194 RM 850,160

6. Glomac Damansara Residences Glomac Damansara 306 1022 RM 736,272 Sdn Bhd

7. TTDI ADINA Shah Alam TTDI Land Sdn Bhd 308 660 RM 240,000

8. The Seed @ Sutera Utama, Johor Tanah Sutera 1230 1390 RM 558,000 Development S Bhd

9. KL Eco City @ Bangsar SP Setia Bhd 711 650 RM 600,000

10. Summer Suites @ Menara Sunrise Sdn Bhd 400 470 RM 328,000 Solaris

11. Crestin Park @ Sabha Impian, Sunrise Impetus Sdn 98 950 RM 298,000 Kajang Town (Town Villa) Bhd

12. Serin Residency @ Cyberjaya Trientel Land S Bhd 342 1,237 – 2,489 RM 340,000

Two storey terraced houses 1. Adonis @ Bandar Puteri, Klang Malayapine Estates 128 1,650 RM 468,800 Sdn Bhd

2. Lavenna, TTDI Grove @ Kajang Prestige 58 1,540 RM 409,000 Improvement S Bhd

3. Aman Putri @ Sungai Buloh PPC Glomac S Bhd 162 1,400 RM 437,500

4. Avani @ Bandar Bukit Raja Sime UEP 194 1,650 RM 438,000 Development S Bhd

5. Mulberry Grove @ Denai Alam Sime Darby Property 130 1,760 RM 672,000 Berhad

6. D'Demang @ Seri Kembangan Basco Sdn Bhd 91 1,300 RM 415,053

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Minimum Minimum selling No Project Developer Units sizes (Sq Ft) prices

Two & half storey terraced house 1. Delmara @ Bandar Bukit Raja, Sime UEP 54 1,950 RM 690,000 Klang Development S Bhd

Three storey terraced house 1. Kinrara Residence @ Puchong Crossborder Team 267 1,650 RM 1,200,800 (M) Sdn Bhd

Two storey semi-detached houses 1. Palladium @ Putrajaya (SD2) Putrajaya Homes Sdn 10 3,920 RM 1,001,488 Bhd

2. Gardia, Bandar Parklands Klang Gabungan Efektif 103 2,080 RM 528,800 Sdn Bhd

3. My Diva Homes @ Cyberjaya Subang Alam S Bhd 52 3,600 RM 1,690,000

Two & half storey semi-detached houses 1. Bangi Seksyen 3 (type Roniaga Sdn Bhd 40 2,800 RM 856,513 Ceremony)

2. Serene Boutique Garden Homes Putrajaya Homes Sdn 4 3,869 RM 1,543,888 @ Precinct 8, Putrajaya Bhd

Three storey semi-detached houses 1. Taman Nadayu 92 @ Kajang Regal Form Sdn Bhd 24 3,600 RM 1,500,000

2. Twin Palms @ Sungai Long Fabulous Range Sdn 38 3,200 RM 1,492,000 ( type Maya ) Bhd

Two storey detached houses 1. Luxuria, Prestige Precinct @ Gabungan Efektif 36 6,790 RM 1,650,800 Bandar Parklands, Klang Sdn Bhd

2. Safira @ Saujana Impian Sime Darby Sungai 37 5,468 RM 1,424,000 Kantan Development

Three storey detached houses 1. Taman Nadayu 92 @ Kajang Regal Form Sdn Bhd 19 7,200 RM 1,900,000

2. 9d' Templer @ Templer Park, B&G Evergreen 9 6,921 RM2,270,000 Rawang Property Sdn Bhd

3. Golden Pearl @ Taming Mutiara Tanming Bhd 20 4000 RM3,380,000 3, Sungai Long

4. The Pearls @ Taming Mutiara 2, Tanming Bhd 77 7,020 RM 3,800,000 Sungai Long

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MAJOR NEWS

New hotel aims to attract exhibitors Top

"The opening of the Zenith Hotel and Sasicc are important as they will complement the development of the East Coast Economic Region (ECER) which has attracted local and foreign investors to the region," said Zenith Aim Sdn Bhd chairman Datuk Seri Dr Shafie Salleh after a soft launch of the hotel yesterday. When fully completed in April, the five- star 24-storey hotel will have 519 rooms and suites with in-room facilities, including free broadband Internet access and LCD television. He said the hotel could handle major events as the adjoining Sasicc had a pillarless grand ballroom which could seat 3,000 people, while its exhibition hall could accommodate 220 booths. Also available are 12 well-equipped function rooms that could be used for smaller events for 30 to 120 people. (The Star-2 Jan 2011)

Langkawi all geared up for 2.5m visitors Top

The Langkawi Development Authority (Lada) is targeting 2.5 million local and foreign visitors to the island. Lada tourism manager Megat Shaharul Azman Abas said recently that the target could be achieved in view of the various national and international events to be held on the duty-free island this year. (The Star-3 Jan 2011)

Iskandar atracts RM64.38bil investments, makes significant progress despite challenges Top

Iskandar Malaysia, the country's first economic growth corridor, is making significant progress and moving in the right direction despite uncertainties in the global economy. Launched on Nov 4, 2006, it had until September last year, attracted investments totalling RM64.38bil, exceeding the RM47bil targeted for 2010. A total of RM37.26bil or 58% of the the total investments up to September was from domestic investors and the balance by foreign companies. Of the total, RM25.65bil is invested in the services sector, RM12.81bil in the tourism sector, RM19.64bil in properties and RM6.28bil in the public sector. So far, RM26.89bil or 41.85% of the total investment has been spent on developing projects in the region. The private sector initiative projects currently under construction include Asia's first Legoland Malaysia Theme Park, Newcastle University of Medicine Malaysia, Malaysia Premium Outlet, Indoor Theme Park @ Puteri Harbour, Pinewood Iskandar Malaysia Studio and Netherlands Maritime Institute of Technology. These developments are due for launch in one or two years. (The Star-3 Jan 2011)

RM1.46b island project revived Top

It was a good start to the New Year for the state when the RM1.46bil Pulau Melaka twin reclaimed island project was revived after a decade of financial and legal woes. Chief Minister Datuk Seri Mohd Ali Rustam said the state would start work on the abandoned project, off the coast of Bandar Hilir by September. Among the works included are resolving issues faced by some 1,009 buyers who were left in a lurch when the project was abandoned several times since its launch in the mid-1996. He said the project involved the construction of some 400 commercial shop lots comprising a total of 1,534 units. (The Star-3 Jan 2011)

IJM Land falls, MRCB up after merger off Top

IJM Land Bhd fell to a six-week low in Kuala Lumpur trading after scrapping plans for a RM6.4 billion (US$2.1 billion) merger with MRCB to form the Southeast Asian nation’s second-biggest property developer. A merged group would have boosted share trading liquidity and improved the chances of winning key government land development projects, including one at Sungai Buloh outside Kuala Lumpur, said Maybank’s Wong. The government plans to develop

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Malaysian Rubber Board land in Sungai Buloh at an estimated cost of RM10 billion, Prime Minister Najib Razak said on June 10. The land covers an area of 3,300 acres, he said. (NST-3 Jan 2011)

PLUS connection in MK Land's sale of land Top

IT WAS a simple land sale but MK Land Holdings Bhd's deal raised eyebrows because the buyer shares the same set of shareholders for another major deal - the RM26 billion bid to take over PLUS Expressways Bhd. MK Land announced yesterday that little-known Foster Estate Sdn Bhd plans to buy two pieces of land in Damansara Perdana, Selangor, for a combined RM130 million. MK Land is selling two parcels of land in Damansara Perdana, comprising 7.4ha and 3.3ha for RM100.8 million and RM29.2 million, respectively. The developer had bought the land in April 2000 for RM5.9 million and RM2.4 million, respectively. Damansara Perdana sits next to the thriving Kota Damansara township and it is also close to the new planned development of the Rubber Research Institute Land in Sungai Buloh. (NST-4 Jan 2011)

Perak as hub for the arts Top

Musicians, filmmakers, theatre activists and journalists will soon have their own village - The Village of Artistes in Perak. Menteri Besar Datuk Seri Dr Zambry Abd Kadir said a 22ha site at Gua Tempurung, about 30km south of here, had been identified for the purpose. The village, the first of its kind in the region, will also bring together those actively involved in photography, painting and sculpture, among others, to promote Perak as a hub for the arts. (NST-4 Jan 2011)

Prasarana to get part of RRIM land for development Top

Syarikat Prasarana Negara Bhd will be allocated a parcel of land in the proposed Sungai Buloh Rubber Research Institute Malaysia (RRIM) development project for commercial development as part of the “rail plus property” model being used to offset the cost of building the mass rapid transit (MRT), sources said. “Negotiations are ongoing between Prasarana and the Employees Provident Fund (EPF),” said one source. Last March, the Government announced that EPF would form a joint venture to develop 3,000 acres of land in Sungai Buloh owned by RRIM into a new hub for the Klang Valley. The new hub in Sungai Buloh will lead to over RM5bil of new investments, it was then said. The location and size of RRIM's land near the fast developing Kota Damansara area holds significant attraction for developers and is expected to command a price premium, analysts have said. (The Star-4 Jan 2011)

Sungkai technology park gets RM3b investment Top

Foreign investors have committed an initial US$1 billion (RM3 billion) and pledged an additional US$5 billion in investments for the soon-to-be developed Malaysian Defence and Security Technology Park in Sungkai, Perak. Defence Minister Datuk Seri Ahmad Zahid Hamidi said defence industry players from South Korea, Japan, Europe and the Americas had pledged their commitment, along with local companies. "We expect the additional investment of US$5 billion to be spread over five years once the park takes off in 18 months from June," he said after witnessing the the signing of an agreement between Masterplan Consulting Sdn Bhd and Blenheim Capital Overseas Malaysia Sdn Bhd at Wisma Pertahanan in Jalan Padang Tembak yesterday. The joint venture aims to provide services and training in capacity building, develop specialised skills in offsets and economic enhancement, and procurement and financing services to the ministry. (NST-5 Jan 2011)

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Launched -- Sunway Nexis with RM500m GDV Top

Sunway City Bhd has launched its latest integrated mixed development, Sunway Nexis, located at Dataran Sunway, Petaling Jaya. The development covers 5.83 acres (2.36 hectares) with a gross development value (GDV) of RM500 million. Sunway City managing director property development Malaysia, Ho Hon Sang said: "Sunway Nexis is a complete lifestyle centre encompassing leisure, entertainment, recreation and work facilities right at the doorstep." The commercial development at Sunway Nexis comprises three-storey retail shops with sizes ranging from 4,133 - 8,718 sq. ft and priced at RM4 million and above. The 13-storey office suites range in size from 925-1,722 sq. ft and are available at more than RM 700,000 while the 20-storey flexi office block is from 850 to 1,980 sq. ft. (The Star-6 Jan 2011)

City Walk will have 50 kiosks selling a range of products Top

The Kuala Lumpur City Walk, a new tourist hub for Malaysian food and products, is expected to open as soon as next month, after 13 years in the making. The 416m-walk is located along a small strip of land that links Jalan P. Ramlee to the connecting road between Jalan Pinang and Jalan Perak. It is surrounded by high-rise office and residential buildings.

(The Star-6 Jan 2011)

Fitters debuts with ZetaPark Top

Soon, you will see a new landmark in Jalan Genting Klang in Setapak, Kuala Lumpur, called ZetaPark being developed bu Fitters Diversified Bhd, a fire protection specialist which has ventured into real estate. The venture began in2009 when it bought an 8.43 acre site along Jalan Genting Klang for a mixed development consisting of SoHo units, designer office studios and apartments. The entire ZetaPark project has a GDV RM550 million and will be built atop the KL Festival City Mall is currently under construction. (NST-7 Jan 2011)

YTL Land to launch Capers in Q1 Top

The Capers, a 36 storey condominium in Kuala Lumpur Sentul East by YTL Land and Development Bhd will be launch in the first quarter. (NST-7 Jan 2011)

Shopping haven plan for Tasik Kenyir Top

The Terrengganu government has tasked Eastern Pacific Industrial Corp Bhd (Epic) to develop Tasik Kenyir, the largest man-made lake in Southeast Asia, into a tourist destination and duty-free shopping paradise. Epic chief executive officer Ramli Shahul Hameed said developing 49.4 acres of land on one of the islands within Tasik Kenyir is part of the redevelopment plan that will include resorts, cable car from Pengkalan Gawi, houseboat cruises, water theme parks, and golf courses on some of the 340 islands in Kenyir. (NST-7 Jan 2011)

Mah Sing to extend Garden Residence Top

Spurred by overwhelming response, Mah Sing Properties Sdn Bhd will extend its Garden Residence project in Cyberjaya with the purchase of 34.8 acres of freehold land adjacent to it for the development of Clover@Cyberjaya. Garden Residence, comprising medium to high-end super links, semi-dees and within its Cassia, Evergreen, Jacaranda and Blossom precincts (NST-7 Jan 2011)

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Bungalow project to launch this month with only 21 units left Top

A double-storey bungalow project known as Ukay Seraya in Ukay Heights will be launched this month when the show houses are ready. Comprising 30 units, the project has obtained the relevant approvals and sits on freehold flatland. The lot sizes average about 9,200 sq ft and the project is located less than 10 minutes from KLCC. This bungalow development with perimeter security fencing comes in four designs with built up area ranging from 5,813 sq ft to 7,336 sq ft. The project is developed by Long Island Properties Sdn Bhd, a member of the Long Island Group (LIG). The Long Island Group is a developer who has forayed in Australia, China and Malaysia. The pre-launch sale prices range from RM3,601,000 to RM4,798,000 depending on the type and land size. (The Star-7 Jan 2011)

Perak Corp, PKNP launch township Top

Perak Corp Bhd told Bursa Malaysia yesterday that its wholly-owned unit PCB Development Sdn Bhd and Perbadanan Kemajuan Negeri Perak (PKNP) has jointly launched the RM1.06bil BioDcity@MeruRaya township. It said the development in Bandar Meru Raya, Ipoh, was to promote the concept of CBioD (Conservation of Biodiversity) that involves the protection, restoration and maintainance of the delicate balance of nature. It said the initial development would encompass about 8,000 acres comprising MSC Cybercentre, PHTP Industrial Park, forest arboretum park and other amenities. The total committed investment of RM1.06bil will stretch to 2012. (The Star-7 Jan 2011)

A 'green city' to rise in Ipoh Top

The state is building a unique environmentally-friendly "city" in Bandar Meru Raya here that will be centrepiece of the city's growth. Dubbed the "Biodiversity (BioD) City", an area of more than 3,200ha will be transformed into a hub of commercial complexes, parks, education institutes and residential areas. Menteri Besar Datuk Seri Dr Zambry Abdul Kadir said the city would be built based on green concepts. BioD City would eventually become Ipoh's centre for growth under the Ipoh Local Plan 2010-2020, he added. Senior state executive councillor Datuk Hamidah Osman and Datuk Bandar Datuk Roshidi Hashim witnessed the signing of six memorandums of understanding between Perak State Development Corporation (PSDC) and several private companies and government agencies. Among the corporations roped in for the project is hypermarket giant Mydin Mohamed Holdings Bhd. "The Mydin Wholesale Hypermarket & Shopping Mall at BioD City will cover more than 750,000 sq ft. "When completed by the year's end, it will be the largest Mydin branch in the country." (NST-7 Jan 2011)

Bukit Kiara Properties to venture outside of its traditional market Top

Bukit Kiara Properties Sdn Bhd’s group managing director N.K. Tong says the company is in an advanced stage of planning for two new projects in Persiaran Madge and Jalan Tun Razak in Kuala Lumpur. Subject to approvals, one of the projects is earmarked for launch in the third quarter of this year and the other in 2012. The project in Persiaran Madge will comprise 19 spaciously-designed residences on a 5-storey block with built-up area of 3,500 to 6,500 sq ft. They will be priced from RM3.8mil or about RM3,500 per sq ft. The Jalan Tun Razak project will have 160 fully-furnished service suites in a 20-storey block. The 750-sq-ft to 3,000-sq-ft units will be priced from RM1.2mil or RM1,500 per sq ft.

(The Star-8 Jan 2011)

Boustead in talks to buy army base land for RM8b project Top

Boustead Holdings Bhd (2771) may build mixed commercial and residential properties worth more than RM8 billion on the 98ha Batu Cantonment army base at Jalan Ipoh, Kuala Lumpur. The group's main shareholder Lembaga Tabung Angkatan Tentera (LTAT), which holds a 59 per cent stake, is in talks with the government to buy the land and is close to

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sealing the deal. The government is selling some of its prized land bank around Kuala Lumpur and the Klang Valley at current market value for redevelopment. These include the Batu Cantonment land, 24ha at Jalan Cochrane, the 1,320ha Rubber Research Institute land in Sungai Buloh, and smaller parcels at Jalan Stonor, Brickfields, and Bukit Ledang, off Jalan Duta. (NST-8 Jan 2011)

Overhelming interest for Sunway Merica semidees Top

Sunway City Berhad’s (SunCity) third phase of Sunway Merica in Penang, comprising 12 exclusive units of 3-storey semi-detached houses, has received over 500 interested buyers since it opened for registration in mid-December 2010. The freehold Sunway Merica, with a GDV of RM88 million, sits on a 7.84-acre tract that will be developed in three phases. (NST-7 Jan 2011)

New project a boon for Ibraco Top

Ibraco Bhd, which is expected to come out of the Practice Note 17 (PN17) status soon, has chalked up sales of RM140mil for its newly-launched commercial, industrial and residential project called Tabuan Tranquility. Located along the Kuching-Kota Samarahan Expressway, it is Ibraco's biggest mixed development project on 66ha which comprises 640 double-storey terraced houses,108 semi-detached houses, 60 three-storey townhouses, 76 units of four-storey shophouses, 72 semi-detached industrial buildings, an office block and a petrol station. Also on sale are 24 residential detached lots. Ibraco chief executive officer Chew Chiaw Han said the project, which formed part of the company's regularisation scheme, had a gross development value (GDV) of RM517mil. (The Star-11 Jan 2011)

Ivory to offer seaview villas in Batu Ferringhi Top

Semi-detached villas with unobstructed sea views along Penang's famous tourism belt Batu Ferringhi are poised to be one of Ivory Properties Group Bhd's latest offerings this year. The project which carries a gross development value of RM27 million will comprise only 11 units of the resort-style development which is located within a hillside setting with an ocean view. The company's deputy chairman and executive director Datuk Seri Nazir Ariff Mushir Ariff said Ivory Properties will also unveil this year a luxury condominiums project known as "The Latitude" in Tanjung Tokong, Penang. The Island Resort semi-detached villas will be launched by the middle of the year and we expect to complete the project by 2014. Nazir said each of the four-storey villas, comprising four plus one bedrooms and 5 bathrooms, will boast its own lift and private plunge pool. Tagged between RM2.33 million and RM3.98 million, the 11 units are part of Ivory's "10 Island Resort" project, which is sited at Batu Ferringhi's Miami Beach. The villas come in various sizes, with built-up areas ranging from 3,820 sq ft to 6,450 sq ft. (NST-11 Jan 2011)

LCH plans to buy AP Land for RM305m Top

Low Chuan Holdings Sdn Bhd (LCH), an indirect substantial shareholder of Asia Pacific Land Bhd (AP Land), has offered to acquire the entire business of the latter for 45 sen per share or RM305.22mil. The price represents a 9.8% premium over AP Land's last traded price of 41 sen on Monday. LCH is a special purpose vehicle that has been set up to undertake this proposal. It is substantially owned by Low Gee Tat @ Gene Low, Low Gee Teong, Low Gee Soon, Sem Siong Industries Sdn Bhd (SSI), Selangor Holdings Sdn Bhd and Low Chuan Securities Sdn Bhd, which are also major shareholders of AP Land. As at the date of the offer, Low Yat Construction Co Sdn Bhd, Low Yat and Sons Realty Sdn Bhd and SSI collectively hold 230.45 million AP Land shares, representing a 33.98% equity interest in AP Land.

(The Star-11 Jan 2011)

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Guocoland to launch Damansara City 2 by Q3 Top

Guocoland (Malaysia) Bhd hopes to launch its RM1.9 billion flagship development, known as Damansara City 2, in the third quarter of this year, an official said. The property arm of the Hong Leong group will build the integrated development in Kuala Lumpur's Pusat Bandar Damansara, over a 2.2 million-sq-ft area. It will comprise two office blocks, a 300-room hotel, a 260-unit serviced apartment block and a retail centre. The project by Guocoland was first announced by Prime Minister Datuk Seri Najib Razak yesterday. It was one of 19 projects he unveiled under the government's Economic Transformation Programme. (NST-12 Jan 2011)

Sunway unit wins Singapore land deal Top

Sunway Holdings Bhd, via indirect subsidiary Sunway Developments Pte Ltd (SDPL), has been awarded a tender to jointly develop a parcel of land at Yuan Ching Road, Singapore, for a 103-year lease term at S$131.6mil (RM314.91mil). SDPL, a wholly-owned subsidiary of Sunway Construction Sdn Bhd which in turn is a wholly-owned subsidiary of Sunway Holdings, will be jointly developing the land with Hoi Hup Realty Pte Ltd and SC Wong Holdings Pte Ltd. Hoi Hup, SDPL and SC Wong Holdings intend to incorporate a joint venture on a 60:30:10 basis to undertake the development of the land,” Sunway Holdings told Bursa Malaysia yesterday. (The Star-12 Jan 2011)

SEGi to build branch campus in Perak Top

SEG International Bhd (SEGi) plans to set up a branch campus on a 24.3ha plot in Hulu Kinta, Perak. In its filing to the stock exchange yesterday, it said it had appointed Oakfine Development Sdn Bhd to build a new campus in Perak by January 2014. By then, its unit, SEGi University College, will rent the facility from Oakfine at a 50 sen per sq ft for the first three years. SEGi University College and its subsidiary companies now serve 23,000 students through their six campuses in Klang Valley, Penang and Sarawak. (NST-12 Jan 2011)

Firm to embark on RM3 billion project Top

Property developer Emkay group will embark on a three-year commercial development project with a built-up area of 0.23 million square metre in Damansara, Cyberjaya and other areas. Chairman Tan Sri Mustapha Kamal Abu Bakar said the project, with an estimated gross development value of RM3 billion, showed the confidence the group had in the property market. "In the past three years, we have developed commercial projects worth an estimated RM2.3 billion covering a built-up area of 0.33 million square metre," he said. Other projects include Pusat Dagangan Petaling Jaya in Damansara Perdana, Neo Cyber, MKN Techzone, Mustapha Kamal building in Cyberjaya and a project with Setia Haruman Sdn Bhd. (NST-12 Jan 2011)

Sime plans 15 property launches by June Top

The Sime Darby group is preparing for at least 15 property launches for the six months ending June when the group's financial year comes to an end. Sime Darby Property Bhd head of marketing development Henri Young said these 15 launches would cover different locations. Young was speaking to reporters at the launch of the Certificate of Real Estate Investment Finance programme in Malaysia, which will be sponsored by the Sime Darby group for the first time. “Demand is very strong for landed units. We are now seeing a demand for service apartments and condominiums in the suburban areas. Buyers are looking for more value and they see room for capital appreciation in future years. In the next two months, the company will be launching The Glades in Putra Heights, Subang Jaya, a 53-acre development with bungalows, semi-detached, link and condominium units. This will take place in May where as the Denai Alam in Shah Alam development will be offering Mulberry Grove linked houses while the Bandar Bukit Raja project will also offer

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linked houses. In USJ Heights, it will offer zero-lot bungalows, where the compound is either small or limited. In Melawati, the company launched super-linked terraces in Casa Rimba priced at RM1.5mil and retail and condominium units at its Quartza development in Desa Melawati. (The Star-14 Jan 2011)

Complete lifestyle centre Top

Sunway City Berhad has achieved yet another milestone with the launch of its latest integrated mixed development located at Dataran Sunway, Petaling Jaya. Sunway Nexis is a vibrant commercial development comprising three-storey retail shops with sizes ranging from 4,133 to 8,718sq ft priced at RM4mil and above, 13-storey office suites with sizes ranging from 925 to 1,722sq ft available at more than RM700,000, and a 20-storey flexi office block that range from 850 to 1,980sq ft. This development is sprawled over 2.36ha of thriving land and is developed by Sunway Damansara Sdn Bhd with a gross development value of RM500mil. (The Star-14 Jan 2011)

UCSI plans RM1.13b expansion drive Top

Diversified firm UCSI Group plans to spend up to RM1.13 billion to expand its business and education-based operations over five years, its chairman Datuk Peter Ng said. The group, which operates the UCSI University, is in the midst of developing three five-star hotels in Kuching, Kuala Lumpur and Bandar Springhill in Port Dickson, Negri Sembilan. Ng said in Bandar Springhill, UCSI is planning to build a university medical centre on 13.9ha with investments of RM500 million, besides a RM200 million resort hotel and convention centre. (NST-14 Jan 2011)

Sunsuria adds pizzazz to Setia Alam Top

To be complete in 2012, Sunsuria 7th Avenue,a freehold commercial project spanning 30 acres, is expected to add pizzazz to the fast growing Setia Alam township in Shah Alam, Selangor. According to the developer, the Sunsuria group, the first phase will comprise 57 units of two and three storey semi-detached retail offices spread over 16.48 acres.

(NST-14 Jan 2011)

RM30mil makeover for Waterfront Labuan hotel Top

Waterfront Labuan, one the oldest hotels here is undergoing a RM30mil refurbishment and rebranding exercise to keep up with the economic development in this offshore financial centre. The first phase of the extensive work on the building, previously known as Waterfront Labuan Financial Hotel, has been completed, said its executive chairman Tan Sri Chua Ma Yu. There is an increasing demand for better quality rooms, conference facilities and food and beverage outlets, he added. Under the project, all its 94 guest rooms are installed with security cards, wall-mounted LCD televisions and in- room wireless and data connections. (The Star-17 Jan 2011)

Movenpick Hotel set for 2014 opening Top

Movenpick Hotels & Resorts has signed amanagement agreement to operate the Movenpick Hotel & Convention Centre KLIA in Malaysia, scheduled to open in early 2014. The 333-room upscale hotel will form part of a larger 6ha development that includes a convention and exhibition centre located near the Kuala Lumpur International Airport and F1 Sepang International Circuit. (The Edge-17Jan 2011)

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SP Setia wins Penang convention centre deal Top

SP Setia Bhd, the country's largest developer by sales has won a RM300 million project to build and operate the Penang International Convention and Exhibition Centre (sPICE), Bloomberg reported, citing an email statement from the Penang Chief Minister Lim Guan Eng. The project aims to create a "Penang People's Park" that includes the country's first subterranean sPICE, a 2.83 hectares public park on the rooftop, a refurbished and upgraded Penang International Sports Arena (Pisa), a refurbished and upgraded Aquatic Centre and a four-star hotel with retail outlets and a spacious parking lot. The project will be developed through a public-private partnership agreement between the Penang Municipal Council (MPPP) and developer SP Setia Bhd's unit Eco Meridean Sdn Bhd. (NST-17 Jan 2011)

SP Setia to develop govt complex Top

SP Setia Bhd’s 50% owned associate Sentosa Jitra Sdn Bhd has received the Government’s approval-in-principle to negotiate over terms to develop a new integrated health and research complex for the Health Ministry in Setia Alam, Selangor. The proposed complex, to be known as the 1National Institute of Health (1NIH) Complex, is expected to be developed on 55.33 acres owned by SP Setia’s wholly-owned unit, Bandar Setia Alam Sdn Bhd, in Setia Alam. The complex will house the various national health institutes and relevant supporting offices and research centres under the ministry’s purview which are currently situated on 40.22 acres along Jalan Bangsar and other parts of Kuala Lumpur. In exchange, SP Setia will get the 40.22-acre Government land which it will redevelop into an integrated mixed residential and commercial project. (The Star-17Jan 2011)

TILB focuses on mainland Penang projects Top

Newly-listed Tambun Indah Land Bhd (TILB) expects to complete the first of its seven ongoing property projects on mainland Penang in the first quarter of this year. The company will complete the second phase of its RM79mil Juru Heights bungalow project by March, according to managing director Teh Kiak Seng. "We have seven projects ongoing this year with a GDV (gross development value) of RM530mil. They include medium-cost apartments and mid-range housing developments," he said after the listing ceremony of TILB on the Main Market of Bursa Malaysia yesterday. Going forward, Teh said TILB would continue to develop projects on mainland Penang (as opposed to the island) as properties there were more affordable. (The Star-19Jan 2011)

Bolton eyeing 44ha site in Penang Top

Bolton Bhd is looking to expand its landbank in Penang with a potential acquisition in Teluk Kumbar this year. Bolton executive chairman Datuk Azman Yahya yesterday said it was hopeful to conclude the proposed acquisition of the 44ha site within two to three months. The land on the south-western end of Penang island is estimated to cost Bolton RM150 million, Azman added. "Our maiden project in Penang - Surin, has been encouraging and we are now looking at expanding our landbank on the island via acquisitions and joint ventures," he told reporters after a topping out ceremony for the Surin Tower B project located in Tanjung Bungah. Surin is a two-block 28-storey luxury condominium project which is built on a freehold parcel of elevated land and carries a development value of RM199 million. Of the project's 390 units, about 77 per cent had already been sold out and about 30 per cent to 35 per cent of the buyers were foreign, Azman said. The units, which were sold at prices ranging from RM345,998 to RM1.2 million, offer amenities such as an infinity pool, rooftop garden, two covered carpark bays per unit, three tier security, a barbeque area and sky decks. On the planned purchase of the Teluk Kumbar land, Azman said Bolton was looking at building landed property units, along with apartments in a gated community. (NST-19 Jan 2011)

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Masteel, KUB propose rail transit in Iskandar Top

Malaysia Steel Works (KL) Bhd (Masteel) and KUB Malaysia Bhd have proposed to develop and operate a RM1.23 billion-intercity rail transit system project in Iskandar Malaysia, Johor. The companies have worked on the proposal for the past one year and are now in discussions with the government on the concession. "We hope to complete the discussions within this year. (If materialises), the rail transit system is expected to be ready for operation not later than end of 2013," Masteel managing director Datuk Seri Tai Hean Leng told a news conference after the signing of a joint venture agreement in Kuala Lumpur yesterday. The 100km-intercity rail system - the first in Johor - has been proposed to run on KTM Bhd (KTMB)'s existing rail track, covering 25 commuter stations in major towns. It may eventually be connected to the MRT line from Singapore. (NST-20 Jan 2011)

Tuning in to more hotels in Sarawak Top

TUNE Hotels plans to have at least four more hotels in Sarawak under its operation with the Sibu and Miri hotel branches targeted to be operational by this year. Tune Hotels East Malaysia regio-nal manager Shanmugamnathan Suppiah said the group was also looking at the possibility of expanding its operations to Mukah and Tanjung Manis due to the growing economic presence there. “Our plan for Sibu and Miri is progressing well and we have received several proposals from interested parties,” he said after briefing travel agents here. The group now has two hotel branches in the state - Kuching which started its operation in 2009 and Bintulu on Jan 3. There are 135 and 101 rooms at its Kuching and Bintulu hotel branches respectively. Meanwhile, head of government business and relations Shamsul Salim said the group had also set its eyes on overseas expansion following its successful ventures in setting up two hotel branches in Bali and one in Westminster, London. “We are looking at expanding to New Zealand, Australia and probably Paris. But Singapore is not on our radar of expansion due to the high cost involved,” he said. Shamsul said the group would set up its next hotel branch in Kota Baru on Jan 23 which comes with 172 rooms. Shanmugamnathan revealed that its Kuching hotel branch had so far hit 85% occupancy rate on a consistent basis. Co-founded by AirAsia’s Datuk Tony Fernandes, Tune Hotels is a limited service hotel brand that provides “5-Star Beds at 1 Star Prices” with high-quality accommodation basics of comfortable beds, power showers and clean, central and secure locations. (The Star-20 Jan 2011)

Kobay ventures into hotel business Top

Oil and gas specialist Kobay Technology Bhd is diversifying into hopitality. It recently purchased the Butterworth Travelodge site in Penang from Woo Brothers Development Sdn Bhd for RM4.5 million. The Site has a land area of 4,350 sq ft and houses a nine-storey structure with built –up of 36,822 sq ft. (NST-21 Jan 2011)

Damansara City 2 to launch soon Top

Damansara City 2 (DC2), an intergrated development in Pusat Bandar Damansara, Kuala Lumpur, is expected to be launched by the third quarter, according to developer Guocoland (M) Bhd. The 8.4-acre development will comprise two landmark office towers, two blocks of luxury condominiums, a five star boutiwue hotel and a retail mall.

(NST-21 Jan 2011)

Langkawi to get 135m tower worth RM10m Top

A 135-metre tower is to be built in Langkawi at an estimated cost of more than RM10 million. Tun Dr Mahathir Mohamad is confident that the new landmark will be another attraction on the resort island. "I have been given the honour of naming the tower, but have not come up with anything suitable yet," the former prime minister said at the ground- breaking ceremony at the Kuah Beach here yesterday. Datuk Abu Hassan Mohamed, executive chairman of Blackrock,

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the company undertaking the project, said that work to reclaim 11.2ha at Kuah Beach would begin next month. Construction would begin in March, and the tower was expected to be completed within 24 months, he said.

(NST-23 Jan 2011)

Naim to develop RM300m mixed project in Kuching Top

Naim Holdings Bhd (Naim), a property developer and construction group, will develop prime land in Batu Lintang, Kuching, into the state's biggest comprehensive mixed development project, costing more than RM300 million. Managing director Datuk Hasmi Hasnan said the proposed development would be sprawled over 13.597ha and be completed over 20 years. The project will comprise a four-storey shopping mall with basement car park, office tower block, hotel tower, a 36-storey office tower with basement and elevated carpark, showroom, 18-storey condominium block and a 27-storey high-rise apartment. The project will be developed on a joint venture basis between Naim, Sarawak Mosque Welfare Trust Board and Tabung Baitulmal Sarawak. (NST-22 Jan 2011)

GUH seeks more land for property projects Top

WHILE GUH Holdings Bhd (3247) continues to look at its printed circuit board (PCB) division as the primary driver of growth this year and in years to come, the firm continues to expand its landbank for other activities. GUH is looking at acquiring land in the Klang Valley, Penang island and upcoming spots in Seberang Prai. He said GUH's Taman Bukit Kepayang development in Seremban, has so far seen development of 120 hectares and there was a balance of about 108 ha left to be developed over the next six to seven years. On GUH's plantation activities, H'ng said the 154 ha of plantation land in Kedah, acquired as a testing ground, had proven to be very successful and boasted industry-standard yields. "We are now looking to increase the estate size to between 1,200 ha and 2,000 ha in order to achieve meaningful economics of scale," he added. (NST-24 Jan 2011)

Tune Hotels opens 12th hotel in Kota Bharu Top

Tune Hotels opens its 12th hotel in Kota Bharu, completing its presence in all regions of the country – central, north, south, east and west. Located next to the KB Mall in central Kota Bharu, the 173-room hotel is strategic for both tourists and business travellers as it is located within Kota Bharu’s shopping belt and food trail that are heavily infused with the rich Kelantanese culture. The opening of Tune Hotels Kota Bharu comes barely 3 weeks after Tune Hotels Bintulu in Sarawak that opened its doors on 3 January 2011. Tune Hotels Kota Bharu is a partnership with property company HLK Group, which has established HLK Ventures Sdn Bhd exclusively to develop Tune Hotels Kota Bharu. Available exclusively online at www.tunehotels.com, Tune Hotels guests can now enjoy a bundle called the ‘Comfort Package’ that includes 12 energy-saving hours of air conditioning, towels and bathroom amenities for only RM15.90. That is a savings of 20% as compared to stand-alone services. Twelve hours of air conditioning costs RM13.62 while towels and bathroom amenities are charged RM5.30 per set. The opening of the Kota Bharu hotel brings Tune Hotels’ number of operating properties in Malaysia to nine having recently opened their hotel in Bintulu on 3 January 2011. Tune Hotels’ existing hotels in Malaysia are located in Kuala Lumpur, KLIA-LCCT Airport, Kota Damansara, Penang, Johor Bahru, Kuching, Bintulu, Kota Kinabalu and Kota Bharu; Kuta and Legian in Bali, Indonesia and one in London, England.

(NST-24 Jan 2011)

University of Southampton to set up campus in Johor Top

The University of Southampton, world renowned for its engineering programme, will open its first overseas campus in Johor next year. The University of Southampton Malaysia Campus (USMC) will be sited at Iskandar Malaysia's EduCity in Nusajaya, Johor, and its first intake will comprise of 60 students. Higher Education Minister Datuk Seri Mohamed

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Khaled Nordin said the campus along with several other globally-recognised institutions would set the pace for turning Malaysia into a regional education hub. The others include the Newcastle University Medicine Malaysia (NuMed) (opening in September), the Netherlands Maritime Institute of Technology (NMIT) and Malborough College Malaysia within EduCity. Khaled said with 403 private colleges, 20 public universities, 45 private universities and 15 foreign branch campuses, Malaysia had great potential to tap into the education need of the region. EduCity was expected to host 16,000 students on completion, said Iskandar Investment chief executive and president Datuk Syed Mohamed Syed Ibrahim. (NST-25 Jan 2011)

KLIA 2 slated to open in October 2012 Top

The new permanent low-cost carrier (LCCT), dubbed "KLIA 2", is scheduled for operation in October next year. Transport Minister Datuk Seri Kong Cho Ha said the current LCCT in Sepang will be converted into a cargo terminal. Kong said the new LCCT, which is sited on 243,000 sq m and 2km from the main Kuala Lumpur International Airport terminal, will be able to handle 30 million passengers a year. It can be expanded to up to 45 million passengers. "A lot of people has complained that the current LCCT has become too overcrowded and congested. Last year alone, the terminal handled about 17 million passengers, beyond its capability of handling up to 15 million passengers," he said.

(NST-25 Jan 2011)

Equine-JPSB project agreement Top

Equine Capital Bhd's wholly-owned subsidiary, Taman Equine (M) Sdn Bhd (TEM), has entered into a joint-development agreement with Jelang Puncak Sdn Bhd (JPSB) for a proposed project in Selangor worth RM198.1mil. Equine Cap said the proposed development was expected to comprise of 177 units of properties comprising 138 units of two-, three- and five-storey shop offices and 39 units of low-cost shops within a multi-storey car park. The project is expected to commence in early 2011 and completed in 2013. (The Star-28 Jan 2011)

Phoenix Plaza in RM159m makeover Top

Phoenix Plaza in Cheras, Kuala Lumpur, is undergoing a RM159 million makeover by Malaysia Land Properties Sdn Bhd (Mayland) which bought the plaza with 880,000 sq ft gross floor space in 2008. Mayland major shareholder Tan Sri David Chiu said the failure of the plaza, which closed down in August 2005, was due to accessibility problem and inexperience management. The company proposes to rename it Cheras Central Shopping Mall which will have an attached 300-room hotel and a Cineplex at the rooftop, bowling alley, indoor amusement park and gourmet supermarket in the basement.

(NST-28 Jan 2011)

Bolton to expand in Penang Top

Bolton Bhd intends to build landed properties, along with apartments in a gated community, in Teluk Kumbar, Penang, on 108.7 acres of land it is hopeful of concluding the purchase in three months. Executive chairman Datuk Azman Yahya said the land is estimated to cost RM150 million or RM31.70 psf, adding that Bolton, convinced of the island;’s growth prospects, also remains on the lookout to buy land in Tanjung Bungah. Surin, it maiden project in Penang, is a twin block of 28- storey, 390 unit luxury condominium of which 77 per cent have been sold. (NST-28 Jan 2011)

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Melati unit, PKNS in RM1.6b project Top

Melati Ehsan Holdings Bhd’s wholly-owned subsidiary, Bayu Melati Sdn Bhd, has entered a joint venture agreement with PKNS Holdings Sdn Bhd to undertake a mixed commercial development with gross sales value of RM1.62bil. The projected gross costs value of the development is about RM1.07bil but Bayu Melati may propose improvements to the building and layout plans, design and building works on the 75,473sq m freehold commercial land in Kelana Jaya, currently with a sport complex known as “Kompleks Sukan PKNS”. In a filing with Bursa Malaysia yesterday, Melati Ehsan said the proposed project entailed two blocks of service apartments, one block of Soho offices, one sports complex, two blocks of office tower, one shopping mall, one hotel, one performing arts centre and car park lots.

(The Star-29 Jan 2011)

Equine Capital in JV to develop nine acre site in Subang Top

Equine Capital Bhd has entered into a joint development agreement with Revenue Concept Sdn Bhd develop a nine-acre freehold tract in Subang Jaya, Selangor, the company announced on January 21. The proposed project will feaure commercial and residential developments, with an estimated value of RM1 billion. (The Edge-31 Jan 2011)

Pasdec to launch projects worth RM252 million in Kuantan Top

Main Market-listed and Kuantan-based Pasdec Holdings Bhd plans to launch at least RM252 million worth of properties in Penang this year, says CEO Datuk Mohd Khairuddin Abdul Manan. Slated for launch in Kuantan in July is the 9.46- acre leasehold Pasdec Personawith an estimated GDV of RM41.3 million. The project will feature 66 semi-detached homes, 90 terraced houses and 15 shophouses. Two upscale mixed commercial developments – the RM130 million 57.4 – acre leasehold Pasdec Avenue, with a total GDV of RM64 million – are scheduled to be launched in September. This will be followed by launches in Temerloh, including the 9.52 – acre Pasdec Perdana and eight – acre Pasdec Idaman. The former will offer 105 single storey semidees and 2 – storey terraced homes and the later 106 2 – storey semidees and linked houses. The group is currently working on RM2.36 billion worth of projects in the state, including its flagship RM1.3 billion 417 – acre freehold Bandar Putra township. (The Edge-31 Jan 2011)

Ahmad Zaki to build 1,002 flats Top

Ahmad Zaki Resources Bhd (AZRB) has secured a RM125mil contract to construct and complete 1,002 units of flats in three blocks of 17-storeys buildings and related works for public housing at Chabang Tiga, Kuala Terengganu. the company said work on the project, which was awarded by the Housing and Local Government Ministry, would commence on Feb 16, 2011 until Aug 15, 2013. (The Star-1 Feb 2011)

UDA's unique RM80m plan for Penang village Top

UDA Holdings Bhd will spend about RM80 million to relocate and redevelop Kampung Tanjung Tokong squatter village here, beginning end of the year. Its chairman, Datuk Nur Jazlan Mohamed, said the model for the redevelopment of the squatter village was the first used by a developer in the country. UDA will build two types of houses. The first is a three- room unit with a built-up area of 850 sq ft, which will be occupied by temporary occupation licence holders and their beneficiaries while the other unit, with a built-up area of 800 sq ft, will be occupied by those staying in unnumbered houses. It was reported that UDA plans to build low- and medium-cost flats, apartments, condominiums and commercial buildings in four phases with a gross sales value between RM800 million and RM1 billion on a 9.6ha site in the village.

(NST-1 Feb 2011)

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Putra Place auction price lowered further Top

The auction price is now RM513.95 million and the new auction date is set for March 30 2011. The auction price for Putra Place, which houses The Mall shopping complex, Legend Hotel and an office tower, has been lowered for the third time as no bids have been received thus far. The auction price is now RM513.95 million, which is 10 per cent lower than the RM571.05 million set earlier. The new auction date has now been set for March 30 2011. The Mall comprises eight levels of podium retail/shopping units. The Putra Place office tower covers the tenth floor to the 33rd, while the 25-storey Legend Hotel includes serviced apartments and penthouses. The freehold property, with 193,621 sq ft space, has 1,323 parking bays. (NST-2 Feb 2011)

New landmark for Kuching Top

Kuching skyline is set to change with the construction of a 36-storey office tower in the prime area of Batu Lintang. The proposed tower will beat the city's tallest building, the 22-storey Wisma Bapa Malaysia in Petra Jaya which now houses the Chief Minister's office, several ministries and the state secretariat. The tower is part of Sarawak's biggest mixed- development project jointly undertaken by Naim Holdings Bhd with Lembaga Amanah Kebajikan Masjid Negeri Sarawak (LAKMNS) and Tabung Baitulmal Sarawak (TBS), both state charitable trusts. Naim managing director Datuk Hasmi Hasnan said other components of the 13.6ha project were a 27-storey apartment, 18-storey condominium, a second office- tower block, hotel tower, a four-storey shopping mall, a 17,000-sq-ft showroom and multi-storey car parks. Hasmi said the project would be carried out in phases over 20 years, with the apartments to be built first. The apartment block will have 115 units and the condominium 216 units. (The Star-2 Feb 2011)

GAIM seeks to invest more in Iskandar Top

Global Asia Investment (Macau) Ltd (GAIM) is looking to invest in more property projects in Iskandar Malaysia following its initial foray into Johor Baru market. Chief executive officer Charlie Taka said the prospects in Iskandar Malaysia were good and the company wanted to benefit from long-term growth of Malaysia's first economic growth corridor. GAIM has purchased the two condominium blocks at Molek Pine Tower 3 from Tanjung Bintang Sdn Bhd for RM200mil. The blocks would be used for its “Malaysia My Second Home” programme for its Japanese clients. The project comprises a 28-storey tower block with 212 units and a six-storey block with 36 units on a 2.42ha site in Taman Molek. The units will have built-up areas of 1,300 to 2,300 sq ft. The condo, with selling price from RM500,000, is expected to be completed in two years. It is being developed by Tanjung Bintang, a unit of the Berinda Group, which in turn is a property development arm of the Kuok Group. (The Star-2 Feb 2011)

Mah Sing targets to launch Icon City in H1 Top

Mah Sing Group Bhd, the country’s fifth largest property developer by revenue, is targeting to launch the first collection of Icon City in Petaling Jaya, Selangor, in the first half of the year. Known as 30 Jewels, it will comprise 30 lifestyle six to eight storey shop offices, with indicative selling price from RM7 million each or a total of RM200 million. The project is located on 7.93 ha site in SS8, Sungai Way, a site formerly occupied by Matsushita Group of Co. (NST-5 Feb 2011)

New flats to be built in Segambut Top

The Segambut constituency will be getting its first People’s Housing Project (PPR) flats for Kampung Sungai Udang, Kuala Lumpur. According to Segambut MP Lim Lip Eng, 560 units will be built over the next three years near Jalan 8/42 in Taman Sejahtera, Kuala Lumpur. The area, which covers about 0.2ha, is situated next to a Tenaga Nasional Bhd (TNB) land with pylons but Lim said the PPR units will be built 50ft from the buffer zone. He said this was part of plans under

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the Kuala Lumpur City Hall (DBKL) Budget 2011, whereby four low- and medium-cost developments with 1,984 units will be built at the cost of RM301mil. (The Star-7 Feb 2011)

Lanson Place to operate Bukit Ceylon Residences in 2012 Top

Lanson Place Hospitality Management Ltd will operate a RM207 million property known as Lanson Place Bukit Ceylon Residences in Kuala Lumpur in 2012. This will be Lanson Place's third property in Malaysia and form part of the Verticas Residenci development in Bukit Ceylon by Wing Tai Malaysia Bhd. The tower, to be managed by Lanson Place, is owned by Wing Tai Malaysia and Lanson Place's parent company, Wing Tai Properties Ltd. Wing Tai Properties is listed on the Hong Kong Stock Exchange. The property has set new standards in the serviced apartments as it has very large units, with a one- bedroom unit measuring 1,100 sq ft and larger ones reaching 2,000 sq ft. The Bukit Ceylon property hopes to garner an average of RM500 per night when it opens. Meanwhile, its four-star Lanson Place Ambassador Row with 221 keys closed last year with an average room rate of RM207 and an occupancy of 72 per cent. This year, it hopes to garner RM250 and fill 70 per cent of its room inventory. It also operates 132 units in Lanson Place Kondominium No 8, which consists of purely residential apartments. (NST-7 Feb 2011)

InterContinental comes to KL Top

InterContinental Hotels Group (IHG) has opened its first InterContinental brand hotel in Malaysia. IHG is replacing the management of the hotel owned by MTJ Development Sdn Bhd. Japan's Nikko Hotel operated the hotel for 15 years. As a luxury brand, The InterContinental will initiate some makeovers that will create the feel of the brand and work on providing service standards associated with the hotel. As the hotel was renovated only four years ago, this time around some 180 rooms from its 473-room inventory and public area will be upgraded. In Malaysia, other IHG hotels include Crowne Plaza Mutiara Kuala Lumpur, Holiday Inn Kuala Lumpur Glenmarie, Holiday Inn Resort Penang and Holiday Inn Malacca. A Holiday Inn Express is also scheduled to open in Kota Kinabalu. (NST-7 Feb 2011)

Dijaya to launch two township in Selangor this year Top

Dijaya Corporation Bhd, the master developer of the Tropicana Golf and Country Resort development in Petaling jaya, is looking to launch two new freehold township in the southern part of Klang Valley this year – one in Cheras and another in Balakong. A township project in Taman Rakan in Cheras is scheduled for launch next quarter. Known as Tropicana Sg Long, the first launch will feature semi-detached homes and zero-lot bungalows. Located adjacent to Bandar Sungai Long, the guarded project will comprise 3 generational homes including 3-storey semidees, 3-storey zero-lots, 3-storey superlink homes and apartments on a 26.8 acre site. It will be developed in two phase in four years. Less than a 10 minute drive from Tropicana Sg Long and diagonally opposite Jade Hills by Gamuda Land Bhd is Dijaya’s other mixed residential project in Balakong, tentatively named Tropicana Bayou. The first phase, covering 12 acres, will consists of 90 units of 3- storey residential units. The whole project will developed in three to four phases over seven to eight years. Some 4.1 acres have been allocated for a linear park, a linear garden and a central park. (The Edge-7 Feb 2011)

Kuantan Port City to draw RM38b investments Top

Kuantan Port City (KPC) is projected to attract up to RM38 billion investments by 2020, and help the East Coast Economic Region (ECER) and the country’s first Special Economic Zone located within it, to be an industrial and logistics hub. The ECER encompasses Kelantan, Terengganu and Pahang as well as the Mersing district in Johor. Encompassing 12,667 hectares, the completed project will see a throughput of 24 million tonnes, create 44,785 jobs and contribute RM9.3 billion to the local economy by 2020. (NST-9 Feb 2011)

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PJD plans RM1.7b projects by Q3 Top

PJ Development Holdings Bhd (PJD) aims to launch four projects worth about RM1.7 billion by third quarter of this year. Chief operating officer Lim Lian Seng said the projects are located in Sri Hartamas and Cheras in Kuala Lumpur, Butterworth in Penang, and Kuantan in Pahang. In the high-profile locale of Sri Hartamas, PJD will launch Duta Kingsbury, near the high-end commercial hubs of Mont'Kiara Solaris and Dutamas Solaris. Duta Kingsbury is one of few projects which PJD deferred after the crisis.

In Cheras, PJD will launch a mixed-integrated development consisting of three blocks of serviced apartments, two shop- office towers with entertainment areas, retail complexes and restaurants. In Butterworth, PJD will launch phase four of its Harbour Place project, comprising over 300 units of serviced apartments with priced from RM300,000. In Sungai Karang, Kuantan, the company will launch over 200 units of seaside serviced apartments, close to the Swiss-Garden Resort & Spa Kuantan. Each unit will be priced from RM200,000. (NST-9 Feb 2011)

Equine unit in Subang development JV Top

Equine Capital Bhd unit, Equine Park Country Resort Sdn Bhd (EPCR), has entered into a joint venture agreement with Revenue Concept Sdn Bhd to develop 8.98 acres of freehold land in Subang Jaya, Selangor. The proposed mixed development will comprise commercial and residential components and have a GDV of about RM1 billion. (NST-11 Feb 2011)

Italian-style comes to Selayang Top

Selayang is not just famous for its hot springs and Bukit Lagoon Forest Reserve but also for its first high-end Selayang Springs Condominium located along the Jalan Ipoh / Rawang trunk road. The development headed by Barisan Tenaga Perancang Malaysia Sdn Bhd, a subsidiary of Masa Group of Companies, has received posirive feedback from its first phase, Damar, with all untis sold out. Following that, it is confident of similar success with the second phase, Cedar, officially launched in October last year and over 100 units taken up since. Cedar, with a GDV of RM15 million, will be built over 10-acres of leasehold land. The 23-storey condominium features 274 units housed in three wings. There are 10 Italian-themed layouts to choose from. Trevi are furnished studio units with built-up area of 587 sft. These are priced at RM195,000 or slightly RM330 psf. (NST-11 Feb 2011)

Sycal develops exclusive villas in KL Top

Sycal Properties Sdn Bhd, a wholly owned subsidiary of Sycal Ventures Bhd (SVB), has entered into a joint venture with Global Net Communication Sdn Bhd to developed three plots of land in the Tempat Sungei Puteh area of Kuala Lumpur. According to SVB, the RM70 million high-end residential development on 2.03 acres will offer a limited 28 luxury terrace villas. (NST-11 Feb 2011)

TTDI Adina launched in Shah Alam Top

Naza TTDI Sdn Bhd has launched its new mixed-use commercial development TTDI Adina in Seksyen 13, Shah Alam. Comprising service apartments, shopoffices and an office tower, TTDI Adina is located on a 3.52-acre leasehold site and has a GDV of RM205 million. The 21-storey blocks of serviced apartments housing 308 units were launched on Jan 29 and 30 and are 50% sold. The units are priced from RM240,000 and their sizes range from 660 to 1,181 sq ft. The service apartment are expected to be completed by 20134Q. (The Edge- 14 Feb 2011)

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Point 92 be ready by June next year Top

Tujuan Gemilang Sdn Bhd, the developer of the four acre PJ Trade Centre (PJTC) in Damansara Perdana, Petaling Jaya, is looking to sell Point 92, its latest office building project, en bloc. Located near PJTC, the leasehold 0.92-acre project with an indicative GDV of RM95 million is expected to be completed by June 2012. The developer also plans to obtain Green Building Index (GBI) certification for the building. There will be 12 office floors and seven car park levels. With an average floor size of about 14,500 sq ft, the whole building will have a net built-up of 159,000 sq ft.

(The Edge- 14 Feb 2011)

Gema Padu to devlop RM1.5 billion project in Kota Warisan Top

Gema Pudu Sdn Bhd, the developer of Kota Warisan in Sepang, Selangor plans to launch a new development in the township with a GDV of RM15 billion in the next 4 years. The 138-acre development will comprise residential and commercial properties, says Gema Padu director Lee Kuan Yong. About 350 acres of the 600-acre Kota Warisan townships have been developed since 1997, with over 4000 residential land commercial units delivered so far.

(The Edge- 14 Feb 2011)

Naim plans more affordable houses as demand rises Top

Naim Holdings Bhd, which is focusing on building more affordable houses, targets to sell 850 properties this year. Corporate services and human resource senior director Ricky Kho said as houses below RM200,000 were in strong demand, the company would launch more such properties, particularly at its flagship satellite township Bandar Baru Permyjaya in Miri. Naim, Sarawak's largest property developer, has built about 12,500 houses and other properties in Permyjaya. “We sold about 480 houses worth RM150mil last year compared with 530 units valued at RM152mil in 2009. He said about 65% of the houses sold last year were in Permyjaya. Naim's other property developments are Desa Ilmu and the Riveria in Samarahan. Naim has a landbank of some 1,050ha in Miri, Kuching and industrial town Bintulu which has a combined gross development value (GDV) of some RM6bil when fully developed. Naim recently entered into a joint venture (JV) with Cahya Mata Sarawak Bhd (CMSB) and Bintulu Development Authority (BDA) to develop Samalaju township in Bintulu. The JV company, Samalaju Property Development, is now constructing temporary camp facilities for construction workers of industries in the Samalaju Industrial Park within the Sarawak Corridor of Renewable Energy (SCORE). On Naim's proposed extension of its property development activities to Sabah, Kho said the company had set up an office in Kota Kinabalu. (The Star-16 Feb 2011)

MRCB plans RM300m condo project Top

Malaysian Resources Corp said it plans to develop a high-end condominium project worth RM300 million in sales in Kuala Lumpur. The project will be on a one-acre tract of land it bought along Kia Peng Road in the city center, near the Petronas Twin Towers, the company said in an e-mailed statement today (NST-17 Feb 2011)

VUE Residences rising near Titiwangsa LRT Top

Prinsiptek Corp Bhd (PCB) will be building the 272-unit VUE Residences Serviced Suites on 0.7 acres of freehold land along Jalan Pahang, Kuala Lumpur, and a mere five-minute walk to the Chow Kit monorail and Tititwangsa LRT stations. Expected to be completed by December 2013, the project with a gross development value of RM130 million will consist of 24 storeys including a roof garden. The suites will be situated from eight to 23rd floors and each floor will contain four

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units ranging from 500 sq ft studios to two-bedroom and three-bedroom units of 1003 sq ft. Prices between RM370,000 and RM772,000. (NST-18 Feb 2011)

UEM Land to build Bangi township soon Top

UEM Land Holdings Bhd, which is diversifying into township development outside Nusajaya in Johor, plans to start work on its RM2.84 billion freehold intergrated township in Bangi, Selangor, once the land acquisition is completed by March 31. According to the company, the project will be adeveloped over 10 years on two pieces of land with an aggregate area of 463.51 acres situated within the growth area of Bandar Baru Bangi. Via its unit UEM Land Bhd, it is purchasing the site, located adjacent to the Alam Sari and Bandar Seri Putra townships for RM268.5 million from inch Kenneth Kajang Rubber Plc. (NST-18 Feb 2011)

AP Land Devt bags Armed Forces project Top

AP Land Development Sdn Bhd, a privately-owned property developer, has won a deal to build 20,000 units of affordable houses for Armed Forces personnel nationwide. The five-year project has a gross development value (GDV) of RM3 billion. The "Skim Perumahan Angkatan Tentera 1Malaysia" will start with the construction of 250 units in Pahang this April. The plan is to build houses in every state. The company had signed an agreement with Koperasi Perumahan Angkatan Tentera Bhd (KPAT) to jointly develop semi-detached houses and bungalows for army personnel and retirees nationwide. (NST-18 Feb 2011)

Astral units mixed-use development JV Top

Astral Sdn Bhd’s units Syarikat Ladang LKPP Sdn Bhd and Tasja Development Sdn Bhd have signed a joint venture agreement to build a mixed-use development on a 599.41 ha piece of leasehold land in Pahang. Astral says the project will comprise a commercial centre, an industrial centre, mixed residential properties, public amenities and infrastructure. The project also includes a hi-tech park known as Kuantan Hi-Tech Park. (The Edge-21 Feb 2011)

Magna Prima launches Jalan Kuching project Top

Magna Prima Bhd has launched the first phase of its RM470 million commercial development in Jalan Kuching, Kuala Lumpur. The 10.4 acre freehold Pusat Komersil Jalan Kuching, consists of shopoffices, serviced apartments and a mall, to be developed over three phases. Launched last month, the first phase comprises 94 units of 4-storey shopoffices. With sizes starting at 5361 sq ft, the units come with a lift each and are priced between RM2.88 million and RM 3.88 million. The second phase will comprise a 30-storey serviced apartment tower, and the developer is looking at launching it in 2H2011, depending on market conditions. (The Edge-21 Feb 2011)

Firefly opens two new hubs Top

Firefly has launched its southern hub in Senai, Johor and eastern hub in Kota Kinabalu, Sabah. Flights between Kuala Lumpur and Kota Kinabalu will be increased to six times daily from the current three from May 15. Firefly managing director Datuk Eddy Leong said the community airline was also targeting international routes from Senai and expects to commence flights to Jakarta, Surabaya and Bandung in the third quarter of the year. The new hub launch means Firefly now has five besides those at Subang Skypark, KL International Airport and Penang. (The Star-23 Feb 2011)

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Plans to build flats for middle-income earners Top

The state government plans to build over 1,000 affordable homes for individuals who earn between RM2,500 and RM5,000 a month, said the Selangor State Housing, Building Management and Squatter Committee chairman Iskandar Abdul Samad recently. "We have various low-cost housing programmes for individuals who earn RM2,500 and below a month and we believe the middle-income group, those who earn between RM2,500 and RM5,000 a month, have very limited choices. Iskandar said the Selangor State Development Corporation (PKNS) will build the first 125 units in Bandar Baru Bangi and the ground breaking ceremony is expected to take place in April. "PKNS will also undertake a project to build about 450 units of affordable flats at Kg Sri Temenggung in Gombak, this year.” Iskandar said there will be two types of flats -- one with a floor area of 67.5 square metre priced at RM69,000 or a 76.5 square metre unit which cost RM89,000. "The state government also plans to build about 1,000 units of affordable homes at other locations."

(NST-23 Feb 2011)

Naza Group to HELP set up automotive college by year-end Top

The Naza Group and HELP International Corp Bhd (HIC) plan to jointly set up an automotive college by the end of this year to address rising demand for talent in the car industry. The college will have campuses in the Klang Valley, Gurun, Kedah and in Seri Alam, Iskandar Malaysia, Johor. HIC and Naza have set aside RM25 million over the next five years to open the campuses, adding that the Johor one will be up and running by the end of 2012. (NST-24 Feb 2011)

Uda to invest RM200m in mall project Top

Uda Holdings Bhd will invest between RM200mil and RM250mil to develop Angsana II commercial project, adjacent to its existing Plaza Angsana shopping complex here. Chairman Datuk Nur Jazlan Mohamed said the project was in planning stage and construction was slated to begin by year-end. He said Uda was looking at developing the project on a joint- venture basis with land owners. The proposed Angsana II commercial project will be the first shopping complex which incorporates a street-mall concept in Johor Baru. (The Star-24 Feb 2011)

MRCB, Ekovest in ETP project Top

Malaysian Resources Corp Bhd (MRCB) and its joint-venture (JV) partner Ekovest Bhd have been appointed the project delivery partner for the River of Life project. The project has been identified as an entry-point project identified in the Greater Kuala Lumpur/Klang Valley National Key Economic Area under the Economic Transformation Programme, MRCB and Ekovest said in a joint statement to Bursa Malaysia yesterday. (The Star-24 Feb 2011)

Tradewinds plans new set of 'jewels' Top

Tradewinds Corp Bhd, controlled by businessman Tan Sri Syed Mokhtar Al-Bukhary, plans to demolish two of its prized assets in Kuala Lumpur to make way for a "multi-billion-ringgit" mixed commercial development. This means that the Crowne Plaza Mutiara Hotel and Kompleks Antarabangsa, both located on Jalan Sultan Ismail, will make way for a new property project. Chairman Tan Sri Megat Najmuddin Megat Khas said the plan is in the advanced concept stage and could take more than a year to start. However, the development order for the site plan is already out. Tradewinds, he said, is looking at the possibility of building an office, retail and residence component on the land to provide the group with a recurring income stream. (NST-24 Feb 2011)

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Serviced residence in the heart of town Top

THE Ascott Limited, wholly-owned by CapitaLand has opened a 207-unit property named Somerset Ampang Kuala Lumpur at the Embassy Row in Kuala Lumpur. The company has also secured a contract to manage a 232-unit property in Cyberjaya. The Somerset Ampang is situated close to the ‘Golden Triangle’ and within a walking distance from the Ampang Park LRT station. The serviced residence features studio, one-, two- and three-bedroom apartments. Each apartment comes with a living and dining area, a fully-equipped kitchen, ensuite bathrooms, a home entertainment system, an iPod dock and wireless Internet access. There are several facilities such as a rooftop infinity swimming pool, Jacuzzi, gymnasium and children’s wading pool in the property. As for the property in Cyberjaya, it is dubbed the Citadines D’Pulze Cyberjaya which sets to open in 2014. (The Star-25 Feb 2011)

YNH targets RM4.5b launches this year Top

YNH director and head of corporate strategy Daniel Chan has revealed that the projects in Manjung, Perak and Kuala Lumpur - with a GDV of RM4.5 billion – will keep the developer busy over the next five to eight years. These are Bandar Manjung Point Township in the silver state, Fraser Residence KL hotel / serviced apartments located within walking distance of the KL City Centre, Kiara 163 mixed development next to Plaza Mont’ Kiara, and Menara YNH along Jalan Sultan Ismail in KL’s Golden Triangle.

On the leasehold 446-unit Fraser Residence KL, he said it is a hotel / service apartment project in two blocks of 20 and 40 storeys. Expected to be launched in the second quarter, it will have a GDV of RM700 million and come in built-up size of 600 sq ft to 2000 sq ft and price at RM1200 psf. Its facilities include sky gym, infinity lap pool, whirl pool and sauna. Located on six acres adjacent to Plaza Mont Kiara and opposite One Mont Kiara, it will have a GDV of RM1.2 billion and comes with a guaranteed return for three years. It is expected to be unveiled in the second half of the year and has recorded over 1000 registrant to date. The Developer’s third flagship RM2.1 billion Menara YNH, will features 1.2 million sq ft of office space, price at about RM1200 psf, and 300,000 sq ft of retail area. (NST-25 Feb 2011)

SPNB to sell 6300 affordable homes Top

Syarikat Perumahan Negara Bhd (SPNB) plans to sell 6300 housing units priced from RM35,000 to RM250,000 to the low and middle income groups under its nationwide promotion which will also involve Cagamas Bhd, Malaysia Building Society Bhd and Bank Simpanan Nasional. Household income of less than RM3000 will be able to own a RM220,000 unit without having to make a downpayment. SPNB’s package will include a 10 to 30 per cent discount, depending on the units’s location, and free legal service. (NST-25 Feb 2011)

Hunza eyes IMT growth triangle for new township Top

Hunza Properties Bhd is targeting the Indonesian-Malaysian-Thailand Growth Triangle (IMT-GT), consisting of north Peninsular Malaysia , southern Thailand and Sumatra with a combined population of over 40 million, for its new intergrated township development in Bayan Baru on the southwestern end of Penang Island. The developer, which bought the 42-acre site for RM82 million last year at RM45 psf, is planning between 8.5 million and 10 million sq ft of residential and commercial space in the township, with a GDV expected to run into billions of ringgit. (The Edge-28 Feb 2011)

Legoland Malaysia set to open in 2012 Top

The development of Legoland Malaysia in Iskandar Malaysia by IDR Resorts and Merlin Entertainments is gathering momentum for its grand opening in 2012. Datuk Syed Mohamed Syed Ibrahim, president and chief executive officer of

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Iskandar Investment Group and chairman of IDR Resorts, said next year would be a significant year for Iskandar Investment with the launch of completed projects such as Legoland Malaysia under the company's first phase of development in Iskandar Malaysia. He said RM200mil worth of contracts had already been awarded, and tourist receipts when Legoland Malaysia opens in 2012 would further boost the local and regional economy. Legoland Malaysia, is the centerpiece of Medini Lifestyle, the lifestyle and entertainment hub in Medini Iskandar Malaysia which will also feature lifestyle retail mall, commercial developments and office buildings. (The Star-1 Mar 2011)

Work on 348 Sentral on track Top

SHELL Malaysia chairman Mohd Anuar Taib, Malaysian Resources Corporation Berhad (MRCB) CEO Datuk Mohamed Razeek Hussain and Gapurna Group managing director Datuk Mohamad Salim Fateh Din visited the 348 Sentral site to check on the construction work in progress. The Shell Malaysia corporate headquarters will be occupying 31,587 sq m of floor area in the 348 Sentral office tower and the remaining floors will be rented out. The 348 Sentral is an office and service apartment project owned by GSB Sentral Sdn Bhd, a wholly-owned subsidiary of MRCB. Sitting at the intersection of Jalan Tun Sambanthan and Jalan Travers, 348 Sentral comprises a 33-storey office tower and a 21-storey serviced residence, shared on a five-storey podium with a four-storey basement. The construction work started in April 2009 and is expected to complete by the end of 2012. 348 Sentral will be a certified US LEED (Leadership in Energy and Environmental Design) Platinum Standards Green Building in Kuala Lumpur Sentral. (The Star-1 Mar 2011)

RM100m mosque 'a top tourist draw soon Top

A mosque featuring Chinese architecture which will be built here has the potential of becoming a tourist attraction. Wife of the prime minister Datin Seri Rosmah Mansor said the estimated RM100 million mosque and an Islamic Cultural Complex at Jalan Davis would portray the uniqueness of Islam. The mosque project will be undertaken by the Malaysian Chinese Muslim Association. It will be the first in Kuala Lumpur to sport a Chinese design. (NST-1 Mar 2011) Boutique hotel with five-star luxury Top

Located in the heart of the city, Hotel Penaga is surrounded by historical buildings. Hotel Penaga has just 45 rooms, a restaurant, bar, lounges, and a quiet garden and pool. The choice of accommodation includes the Clarke terrace houses, Transfer Suites and Hutton Rooms which offer five-star comfort and service. (NST-2 Mar 2010)

Jejawi to get RM180m township Top

Syarikat Perumahan Negara Bhd (SPNB) plans to build a township in Kampung Kubang Gajah, Jejawi, here at a cost of RM180 million. There will be 1,508 commercial units, double- and single-storey terrace houses and semi-detached units. The prices are from RM42,000 to RM218,000. (The Star-2 Mar 2011)

Kampung Baru going cyber Top

Ninety-nine per cent of its stake-holders have given their approval to shed the settlement’s image as a rustic village following a fruitful discussion with the Federal Territories and Urban Wellbeing Ministry. “Most of them are in favour of development but we hope to sort out the problem with the one per cent who are opposing the development. He added that the ownership problem for lots had not been settled yet. “For example, there are 880 lots with 4,500 owners. There is also a lot that is over 100 years old and has 143 owners,” said Nong Chik. The plan to redevelop Kampung Baru took root on Feb 6 last year during a visit by Prime Minister Datuk Seri Najib Tun Razak. (The Star-2 Mar 2011)

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SP Setia to launch RM3b project in Cyberjaya Top

The property market in Cyberjaya is proving too hard to ignore for SP Setia Bhd as the developer is taking a second stab at the growing area. Malaysia's biggest developer by sales will launch a RM3 billion eco-themed project in Cyberjaya, Selangor, early next year. SP Setia's project will be called Setia Eco Glades and it will feature 2,437 units of superlink houses, semi-detached homes, bungalows, condominiums and shoplots. It has partnered Setia Haruman Sdn Bhd, the master developer of the Cyberjaya Flagship Zone for the project. SP Setia will hold 70 per cent of the joint venture while Setia Haruman holds the rest. The joint venture is buying 107.2ha of land from Setia Haruman for RM420.4 million or RM36 per square foot. (The Star-3 Mar 2010)

Affordable housing for army Top

AP Land Development Sdn Bhd (APLD) has signed an agreement with Koperasi Angkatan Tentera Bhd (KPAT) to jointly develop affordable housing for army personnel and retirees bationwide. The plan to build the houses in evry state is under the 1 Malaysia Armed Forces Housing Scheme and will start with the construction of 250 units in Pahang in April. These will cost between RM96,000 and RM195,000 and those interested can contact KPAT. They can also secure 100 per cent loans from the cooperative. (NST-4 Mar 2011)

Prasarana to get part of RRIM land for development Top

Syarikat Prasarana Negara Bhd will be allocated a parcel of land in the proposed Sungai Buloh Rubber Research Institute Malaysia (RRIM) development project for commercial development as part of the “rail plus property” model being used to offset the cost of building the mass rapid transit (MRT), sources said. “Negotiations are ongoing between Prasarana and the Employees Provident Fund (EPF),” said one source. “The parcel of land (to be allocated) will be used to build the MRT's main depot but it will also include commercial development above and possibly around the depot, in the form of retail and office space,” another source explained. Prasarana has been appointed the MRT project and asset owner. Last March, the Government announced that EPF would form a joint venture to develop 3,000 acres of land in Sungai Buloh owned by RRIM into a new hub for the Klang Valley. The new hub in Sungai Buloh will lead to over RM5bil of new investments, it was then said. The redevelopment of the RRIM land is also part of the Greater Kuala Lumpur Strategic Development Project initiative under the 10th Malaysia Plan. (The Star-4 Mar 2011)

AQRS to launch green Altium in Q2 Top

AQRS,The Building Company Sdn Bhd targets to launch The Altium, an eco-friendly mixed-development comprising office, commercial and small operator-home office (SoHo) units in Damansara Perdana, Petaling Jaya, in the second quarter. It will be developed in three phases – called The Prime, The CEO Suites and The Pulse – on 2.66 acres of land and is expected to be complete by end 2013. The Prime will be a 22-storey Grade A corporate building with green features and a gross floor area of 270,000 sq ft. The Pulse will be a lowrise three-storey commercial podium, while the SoHo units called The CEO Suites will be designed for those thinking of working or operating their small enterprise from home. The 153 SoHo units will range from 600 sq ft with one bedroom to 1000 sq ft with two bedrooms.

(NST-4 Mar 2011)

SP Setia may be eyeing more land Top

Property developer SP Setia Bhd may buy more land following its latest acquisition of 268 acres in Cyberjaya, analysts said. They believe that the recent share placement by SP Setia to its major shareholders might help boost the company's acquisition plan as the exercise was expected to raise some RM1bil to finance its existing and future projects. HwangDBS

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Vickers Research, in its report yesterday, said that as SP Setia build up its war-chest with the upcoming RM1bil placement and record RM1.8bil unbilled sales, the company had a knack of winning lucrative land deals, and was planning for more high-density mixed development and townships in the Klang Valley. Kenanga Research echoed the sentiment, saying that RM300mil to RM400mil of the potential RM1bil cash from the share placement might be used to buy land.

On Wednesday, SP Setia said it had bought the freehold land in Cyberjaya's flagship zone from Setia Haruman Sdn Bhd for RM420.4mil. The land will be developed as Setia Eco Glades project by Setia Eco Villa, a 70:30 joint-venture company between SP Setia and Setia Haruman. Liew said the project would be a mixed residential and commercial development and was expected to have a gross development value of RM3bil. The project, targeted at high-end customers in Cyberjaya, offered RM2mil for a semi-detached house and a minimum RM3mil for a bungalow. Construction is expected to commence in financial year 2012 and will span over six years. “Mah Sing Group Bhd's Residence and UEM Land Bhd's Symphony Hills have recently seen strong take-up at new benchmark prices,” it said. (The Star-4 Mar 2011)

Cyberjaya to host Setia Eco Glades Top

SP Setia Bhd is set to develop Setia Eco Glades – which will be based on its award winning Setia Eco Park development in Shah Alam, Selangor – the Cyberjaya Flagship Zone (CFZ). To be developed by Setia Eco Villa, a 70:30 joint venture between SP Setia and Setia Haruman Sdn Bhd, the residemtial – cum – commercial project is expected to have a GDV od about RM3 billion, SP Setia president and chief executive officer Tan Sri Liew Kee Sin said after the signing of an agreement on Tuesday to acquire 268 acres of freehold land in CFZ from Setia Haruman for RM420.4 million, or RM36 psf. Liew said Setia Eco Glades, expected to commence in 2012, will be a mid to high-end gate and guarded neighborhood comprising semi-dees, super links, bungalows, apartments and commercial units. (NST-4 Mar 2011)

Sarawak offers land to AirAsia for LCCT Top

The Sarawak government has offered a piece of land next to the Kuching International Airport to AirAsia Bhd to build a dedicated low-cost carrier terminal (LCCT), said Deputy Chief Minister Tan Sri Dr George Chan. “The state government has offered land to AirAsia to set up an LCCT here. Now, AirAsia just need to build the terminal. They (AirAsia and the state government) are talking seriously,” Dr Chan, also the state's Tourism and Heritage Minister, told Bernama yesterday. AirAsia has plans to turn Sarawak into a low-cost air travel hub with extensive domestic and international connections. The plan to set up an LCCT in Sarawak was because the airport tax of RM51 imposed at the KL International Airport was considered too high by travellers. (The Star-5 Mar 2011)

RM700m projects to enhance i-City's value Top

I-Berhad, an integrated ICT developer, will start to build three properties worth about RM700 million at its i-City development in Shah Alam, Selangor, by the end of this year. The properties are a serviced apartment block with over 100 units, a 210-room boutique hotel and a 300,000 sq ft data centre. Chief executive officer Eu Hong Chew said the projects are meant to improve its income and enhance the land value, which is now about RM400 million. i-City, a RM2 billion knowledge and tourism project which started in 2005, will be developed on 29ha, over the next 10 to 15 years. I-Berhad bought the land in the early 1990s for some RM60 million. (NST-7 Mar 2011)

Mutiara Goodyear launches lifestyle homes with GDV of RM40 mil Top

Mutiara Goodyear Development Bhd has launched the new phase of its lifestyle homes in Nadayu 92 in Kajang with a GDV of over RM40 million. It said last Friday that the new phase included four bungalows, priced from RM2.2 million,

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and 24 semi-detaced homes, priced from RM1.3 million. The built-ups of the bungalows and semidees are 6,142 sq ft and 4,579 sq ft respectively. Nadayu 92 is a gated and guarded community spread over 69 acres of freehold land with GDV of RM350 million. (The Edge-7 Mar 2011)

I-Bhd developing new attractions Top

I-Bhd developer of I-City in Shah Alam, will be investing some RM50 million over the next five years to develop new tourism attractions in I-City. (The Edge-7 Mar 2011)

Encorp to launch second phase of Frangipani, Cahaya Alam Top

Encorp Bhd is offering 42 units of 2.5-storey multi façade homes in the second phase of its Frangipani development in Cahaya Alam, Shah Alam, to be launched at the end of March. Frangipani is being developed in three phases, with a total of 140 homes on 11.75 acres of leasehold land. It has a total gross development value of RM90 million. The first phase, comprising 40 units, was launched in November last year. Sales have reached 70%, says executive chairman and group CEO Datuk Seri Effendi Norwawi. The built-up of the homes in Frangipani start from 2,500 sq ft and prices at RM550,000. The low – density development offers only 12 units per acre. Frangipani is part of the 209-acre Cahaya Alam in Shah Alam. To date, 49.2 acre of lands have been developed. (The Edge-7 Mar 2011)

Riding high on Coach launch Top

A ribbon-cutting ceremony to officiate the opening of the new Coach store at the Empire Shopping Gallery here was held recently. The 207sq m store, which is the fifth Coach outlet in Malaysia, has a Soho design concept. Coach is an American designer and maker of luxury handbags and accessories. Valiram Group director Sharan Valiram launched the store with pop singer Ning Baizura and Mammoth Empire managing director Datuk Sean Ng. Mammoth Empire owns the Empire Shopping Gallery. (NST-9 Mar 2011)

Mara ventures into properties Top

Majlis Amanah Rakyat (Mara) is venturing into the property business as it seeks to rely less on the government for funding. Mara Inc Sdn Bhd chief executive officer Abd Halim A. Rahim said the move is in line with the government's wish to see agencies become independent and generate their own revenue. It now aims to develop its landbank, starting with the Klang Valley. However, it is not known how much land Mara has. To start with, Mara Inc will develop 0.9ha at Persiaran Gurney, Kuala Lumpur, in a 51:49 joint venture with Zikay Group. Mara Inc and Zikay, via their joint venture company Symbolic Avenue Sdn Bhd, will develop a project called Gurney Avenue, featuring three blocks of medium to high-end condominiums, retail and shop lots, worth some RM300 million. (NST-9 Mar 2011)

I-Berhad plans mixed REIT Top

I-BERHAD (4251), an integrated ICT developer, aims to launch a mixed real estate investment trust (REIT) worth more than RM1 billion in four to five years. The idea is to unlock the value of investments at i-City, the company's 29ha knowledge and tourism hub in Shah Alam, Selangor. I-Berhad chief executive officer Datuk Eu Hong Chew said the REIT will comprise data centres, an office tower, hotel, mall and carpark block. "We are growing our property portfolio. When we have developed 30 to 40 per cent of i-City, we will launch the REIT," Lee told Business Times recently.

(NST-11 Mar 2011)

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LBS Bina to make high-end jump Top

The small property developer with a market value of about RM228 million wants to reposition itself as a builder of high- end property LBS Bina Group Bhd (5789), well known for building affordable homes, wants to reposition itself as a builder of high-end property, an indication that demand for expensive properties is still strong. The small property developer with a market value of about RM228 million plans to focus on the medium-high to high-end market segment to earn better profit margins. Spearheading LBS Bina's brand in the high-end market will be its jewel project called D'Island Residence in Puchong - an eight-year project with a gross development value (GDV) of RM2.9 billion.

Overall, the D'Island Residence will be developed on 175 acres and once completed, it will have a total of 237 units of super-link house, 298 semi-detached units, 148 bungalow units and 352 high-end condominiums as well as commercial units. The signs are good as during the soft launch recently, 51 units of super-link houses were sold. The official launch is in April 2011. It also plans to launch 122 units of super-link houses that cost just below RM1 million each and 74 units of semi-detached houses at above RM2 million. The group has been building affordable homes at Bandar Saujana Putra - its flagship development spanning over 835 acres. This year, the group plans to build 60 per cent of houses priced above RM350,000. As of March 3 2011, LBS Bina had sold properties worth RM121.7 million and 83 per cent of them were in the medium-high segment. (NST-11 Mar 2011)

Apartments near a retail mall Top

Bolton's latest offering of serviced apartments at the 139.62ha leasehold township, The Wharf Residence, comprises 1,002 units housed within three blocks of 33-storey towers. Sizes range between 818 and 1,125 sq ft while prices of the units start from RM280,000. The project is Taman Tasik Prima’s three-in-one commercial development situated on a 15- acre (6.07ha) parcel and features boutique showroom offices known as BizWalk, The Wharf Residence and a retail mall. Upon completion, The Wharf is envisioned to be a vibrant destination in Puchong. The project was first unveiled in August 2010 and the first component released for sale was BizWalk, 32 blocks of three-storey boutique showroom stratified offices, with prices ranging from RM2.2 to RM3.8mil. (The Star-11 Mar 2011)

Naza TTDI plans 18 new launches Top

Naza TTDI Sdn Bhd plans to launch 18 new property projects with total gross development value (GDV) of RM1.6bil this year. Chairman SM Nasarudin SM Nasimuddin said the new projects were expected to increase the group's net profit this year by 22% to RM100mil from RM82mil last year. These new launches would comprise both residential and commercial developments such as TTDI Grove in Kajang, TTDI Alam Impian in Shah Alam, TTDI Dualis in Puchong and a 35-storey tower at Jalan Tun Razak. "This year's launches are in line with our aspirations to be among the top 10 property developers in the country over the next three years," he said, adding that by 2015, the group was targeting to achieve a net profit of RM267mil and turnover of RM2.22bil. (The Star-11 Mar 2011)

Office with a great view Top

Maju Linq, an integrated development is built on 1.62ha of land in a matured township. Once completed in 2014, the development would comprise a 29-storey tower block and six units of six- and seven-storey office blocks with the ground floor allocated to retail outlets. It is located next to the Integrated Transportation Terminal-Bandar Tasik Selatan, the latest multi-transportation hub, where three rail networks meet. The development has access to Rapid LRT, KTM Komuter and ERL via the terminal which will be connected through a pedestrian bridge. It is also accessible via major highways including the Kuala Lumpur Middle Ring Road 2 (MRR2), Sungei Besi Expressway and Besraya Highway. Each floor at the Maju Linq-Tower consists of only a unit which means your office enjoys a view from all corners. The floor area ranges from 2,500 sq ft to 7,700 sq ft. Developer ASM Development Sdn Bhd is a wholly-owned subsidiary of Maju

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Assets Sdn Bhd. Under Maju Assets, other property developments in the pipeline include a development of 485.62ha (1,200 acres) of land in Johor Baru with gross development revenue exceeding RM2 billion. (The Star-11 Mar 2011)

Hotwer has big plans for Klang Top

Hotwer Development Sdn Bhd’s maiden project, The Boss Service Suites in Klang, is only part of a bigger business plan, one that goes beyond the brick and mortar aspects of the development. It will comprise 28 storey of service suites atop a podium housing retail units, food and beverage (F&B) outlets, function rooms and recreational facilities. Its height of 132m will make it the tallest building in Klang. The Boss Service Suites, which will sit on 2.15 acres of freehold land and have a GDV of RM118 million, is located alang the Federal Highway near Centro and the Klang Hokkien Association building. They are price from RM195,000 to RM307,800. As it will be run like a hotel, The Boss’ units are actually sold under a sale and a leaseback scheme. (The Edge-14 Mar 2011)

Mutiara Goodyear to launch next phase of Nadayu 92 Top

Following the success of phase 1 of Nadayu 92 in Kajang, developer Mutiara Goodyear Development Bhd ha s launched the next phase, offering another 4 luxury bungalow and 24 semi-dee homes for sale. The bungalow, with built-up of 6142 sq ft are price from RM2.2 million. The semidee which have built-up 4579 sq ft, start from RM1.3 million. The gated and guarded development sit on 69 acres of freehold land and has a GDV of RM350 million. (The Edge-14 Mar 2011)

New Age to launch Kota Kinabalu project by June Top

Boutique developer New Age Portfolio Sdn Bhd, expects to launch its second housing project, the RM350 million Celebrity Residence project, by the middle of this year. Set up two years ago, the company will launch the project in Kota Kinabalu, Sabah, via its associate, Laser Plus Sdn Bhd. New Age and Laser Plus have common shareholders, which include Lai Yeng Fock, formerly the executive director for WCT Land Bhd. The rest are private investors. The project in Puchong comprises 50 high-end three-storey semi-dees worth more than RM1.3 million each, or a combined RM77 million. New Age sold the units, which will be built by June, in less than two months last year by word of mouth. As for Celebrity Residence, it will comprise three 24-storey blocks with 432 luxury condominium units on a 6.25-acre leasehold tract, which the company bought in 2009 for RM13 million. Lai said the units, with an average build-up of 1,600 sq ft, will be priced from RM600,000 onwards. New Age is targeting expatriates and Sabahans. (NST-14 Mar 2011)

My First House Scheme launched Top

Prime Minister Datuk Seri Najib Razak launched the My First Home Scheme on March 8. The scheme which was announced during Najib’s Budget 2011 speech, allows first-time buyers with an income of less than RM3000 a month to get a 100 % loan from selected financial institutions for souses worth up to RM220,000. The loans are payable within 30 years. The Government via Cagamas Bhd, the national mortgage company, will guarantee the downpayment of 10 percent. (The Edge-14 Mar 2011)

Major township near Padang Besar in the pipeline Top

A new township in Chuping near Padang Besar covering 496ha is being planned in the state. Perlis Mentri Besar Datuk Seri Dr Md Isa Sabu (pic) said the township was among several projects in the pipeline to bring further development to Perlis. "The land in Chuping is under Felda Global Ven-tures and the Federal Government is willing to return 496ha to the state government for the development of the new township. "We are planning the township so that we have a strip of

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development from Padang Besar to Felda Mata Ayer and Felda Chuping". Md Isa said the state wanted to relocate people from Kampung Melayu in Padang Besar as it wanted to develop the village into a business centre.

(The Star-14 Mar 2011)

Focal Aims looks for more land in the Klang Valley Top

Focal Aims Holdings Bhd is looking for land in the Klang Valley for future development when its maiden project is completed by 2013. Group executive director Yee Yok Sen said the company has started negotiations with several land owners to expand its landbank. He said the company was confident of getting potential buyers for its future launches as it has a track record with its project - Saujana O-Lot in the Klang Valley. The project, which comprised of high-end residential properties on 10.48ha in Mukim Damansara in the Petaling district, is entering the final stage of development. The 48 units of three-storey semi-detached houses are selling from RM1.5mil under phase one. Thirty units of semi- detached houses and 10 bungalows under phase two are sold out, he said. Yee said the last phase of the project consisting of 37 units of semi-detached houses and four bungalow, priced from RM2.5mil per unit would be launched in the middle of this year. It has a gross development value (GDV) of RM105mil. (The Star-14 Mar 2011)

Millennium plans integrated complex Top

Property developer Millennium Land Sdn Bhd plans to build a integrated commercial complex worth RM1.5bil in gross develoment value called Millennia City in Puchong. Millennium Land executive director Benjamin Tan said the Millennia City would be built on a 40.46ha and would comprise of M Square, a 380,000 sq ft self-enclosed six-storey shopping mall. The proposed development will be linked to the Hilton Garden Inn and a 2.1 million sq ft Street Mall. “Upon completion, the Street Mall, comprising 13 blocks of six-storey retail and office units, will be the country’s largest alfresco mall and the commercial heartbeat of Puchong,” he said at the signing of management agreement with Hilton Worldwide yesterday. M Square will feature a 1,200-seat convention hall offering facilities and services for meetings, incentives, conferences and exhibitions segment. Construction of the complex is due to begin this year. Tan said the company planned to also include high-rise condominiums in the project. (The Star-17 Mar 2011)

Abandoned RM600m Klang project gets white knight Top

THE RM600 million Intania commercial project abandoned three years ago in Klang, Selangor, will be revived this month. The project, now called 1Gateway Klang, will be developed by turnkey contractor Erajuta Sdn Bhd, a unit of Sagajuta (Sabah) Sdn Bhd. Intania, a joint venture between Port Klang Authority and Dermaga Suasa Sdn Bhd, controlled by Tan Sri Megat Najmuddin Megat Khas, stopped in 2006 following a dispute between both parties on privatisation matters. When the project stalled, only 13 units of four to six storey shoplots were sold and built while 16 units of 3-storey shoplots were left half way during construction. Previously, the project was to feature medium to high-end apartments, serviced apartment, shoplots and an office tower. The new plans will comprise the 4-star Novotel hotel, a 31-storey office tower, a hypermarket, duplex shops, shoplots, a 3,000-bay carpark and a food hub. (NST-18 Mar 2011)

S P Setia : More medium-cost apartments in Setia Alam Top

SP Setia Bhd plans to launch at least another 300 medium-cost apartment units in its Setia Alam township in Shah Alam in the near future to benefit from the government’s My First Home Scheme, says group president and CEO Tan Sri Liew Kee Sin. (The Edge-21 Mar 2011)

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KYM to develop residential, commercial projects in Teluk Batik Top

KYM Holdings Bhd – which recently proposed to acquire Harta Makmur Sdn Bhd, the owner of three leasehold tracts in Teluk Batik, Perak measuring 311,253 sqm – intends to change the development plans for the tracts from tourism – related projects to commercial land housing ones. KYM has proposed to develop commercial and residential properties with an estimated GDV of RM500 million, a GDC of RM350 million and a GDP of RM150 million. KYM expect to start the project in 1Q2012 with development to take place in stages over the next 3 to 10 years. (The Edge-21 Mar 2011)

The cascades' office units to launch on April 16 Top

Mitraland plans to launch office units in a corporate office tower at its mixed development The Cascades in Kota Damansara on April 16 and 17. The 30 Storey corporate office tower has a gross floor area of 240,000 sq ft.The typical units have built-ups of 697 to 1565 sq ft, while the price start from RM453,100. The Cascades sits on a 4.7-acre leasehold commercial tract, and has a GDV of RM390 million. (The Edge-21 Mar 2011)

RM6bil invested in Nusajaya Top

A total of RM6.15bil in new investments from local and foreign investors have been received for development projects in the eight catalyst developments (except EduCity components) in Nusajaya. UEM Land Holdings Bhd managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim said the investments included RM500mil from Biocon Ltd, India to invest at SiLC (Southern Industrial and Logistics Clusters), RM2.3bil Canal Homes at Puteri Harbour by Bandaraya Development Bhd and RM500mil by Pantai Group for the Gleneagles Hospital at Medini. UEM Land Holdings is the master developer of the 9,308ha Nusajaya, which is one of the five flagship development zones in Iskandar Malaysia. The latter is the country's first economic growth corridor, launched on Nov 4, 2006, and spanning 2,217 sq km located in the southernmost part of Johor. He said works on infrastructure and several projects in Nusajaya were on schedule and expected to be completed this year and within the next two to four years. These include the RM1.4bil Coastal Highway linking Johor Baru city centre to Nusajaya, Asia's first Legoland Theme Park, Indoor Theme Park @ Puteri Harbour, Marlborough College, Newcastle University Medical Faculty, Netherlands Maritime Institute of Technology and Pinewood Malaysia Iskandar Studios. (The Edge-21 Mar 2011)

Faber unveils Vila Prima Top

Faber Development Holdings Sdn Bhd has launched resort-style Vila Prima comprising 31 linked villas and three detached villas, the final phase and most high-end component of its Taman Danau Desa development in Kuala Lumpur. According to the company, 10 per cent of the units priced from RM3.5 million to RM6 million have been sold since the launch in February. The Linked villas will have built-ups of 4,169 sq ft to 5,586 sq ft land areas of 1,292 sq ft to 1,615 sq ft while detached ones will feature built-ips starting from 5,799 sq ft and land areas of 2,691 sq ft to 4,521 sq ft. A joint venture project between Faber Union Sdn Bhd and Fleet Group Sdn Bhd, Vila Prima is located beside the Desa Lake and in between the Danau Villa and Armada Villa projects. (NST-25 Mar 2011)

YTL's sizzling hot Capers Top

YTL Land & Development Bhd's new condominium development, The Capers at Sentul East, is expected to see some 7,000 interested buyers for its 466 units during the launch this weekend, Mar 26 and 27. This is its third development in Sentul East after The Tamarind and The Saffron, launched in 2005 and 2006 respectively. The Capers sits on 4.3 acres of freehold site 10 minutes from KL city centre and Mont'Kiara. Yeoh declined to reveal the gross development value. The

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Capers units are selling from RM688,519 to RM3.2 million. The project consists of 338 units housed in two 36-storey towers and 128 low-rise suites. Built-up areas for the tower units range from 695 sq ft to 1,567 sq ft with two bedrooms and 3+1 bedrooms configurations. The low-rise suites are made up of duplexes and 3-storey single level suites. Sizes are 999 sq ft (2+1 bedrooms) and 1,965 sq ft (duplex 4+1+1 bedrooms). (The Edge-25 Mar 2011)

Luxury in lap of The Elements Top

Land & General Bhd (L&G) has soft-launched its luxury serviced apartment project, The Elements@Ampang, along Jalan Ampang in Kuala Lumpur. The 2.6-acre development with a gross development value of RM800 million is a joint venture between L&G and Mayland Group. The freehold development comprises two towers, each housing 520 units with built- up areas ranging from 640 to 1,570 sq ft, said a spokesperson from the developer. The developer is confident that the reasonable pricing of RM750 to RM800 psf for a freehold development in the city, its strategic location and features will help draw buyers, be it for own stay or investment. Next on L&G's agenda is a high-rise development in Sri Damansara which is scheduled for launch in 3Q11 and the development of landed properties in Seremban. The Edge-25 Mar 2011)

RM300m centre to transform KK suburbs Top

An international technology and commercial centre (ITCC) is being developed in Penampang that will transform the economy of the town in the suburb of Kota Kinabalu. Built with a capital investment of RM300 million, the ITCC is undertaken by Bumiputera-owned Sabanilam Enterprise Sdn Bhd, a subsidiary of Malakun Holdings owned by Datuk Seri Clarence Bongkos Malakun. The project will include the development of a business hotel, an office tower hotel, a modern shopping mall with hi-fi facilities, theatre and science and technology exhibition area. (NST-29 Mar 2011)

Metro Kajang to beef up plantation, property units Top

Metro Kajang Holdings Bhd (6114)is buying more land to beef up its core plantation and property development divisions to drive earnings. Executive chairman Datuk Alex Chen said it is buying more land in Kalimantan, Indonesia and in the Klang Valley. Metro Kajang has RM3 billion worth of properties in its bag, which are being launched in phases until 2015. They comprise high-end landed residential, apartments and shops in Kajang, Semenyih, Desa Melawati and Bangsar. Metro Kajang now owns 15,942ha of plantation land in east Kalimantan, via its 95 per cent-owned PT Khaleda Agroprima Malindo Plantation. (NST-30 Mar 2011)

MEGA DEALS

MK Land sells land for RM130m Top

MK Land Holdings Bhd is selling two plots of leasehold land in Sungai Buloh, Selangor, to Foster Estate Sdn Bhd for RM130mil cash. It told Bursa Malaysia yesterday that it had entered into sale-and-purchase agreements with Foster Estate on Dec 30, 2010 to dispose of 18.54 acres for RM100.78mil and another 8.32 acres for RM29.21mil.

(The Star-4 Jan 2011)

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Hua Yang sells retail units Top

Main-board listed Hua Yang Bhd is selling 73 retail units in its flagship commercial property, One South, Sungai Besi, to South Crest Synergy for RM105mil. One South, an iconic landmark in Sungai Besi, is a mixed development project spread over 1.72ha and is a key revenue driver for the company. (The Star-4 Jan 2011)

Tomei to sell KL land to Oasis Top

Jeweller Tomei Consolidated Bhd will dispose of six pieces of land in Kuala Lumpur to Oasis Properties Sdn Bhd for a total of RM4.6mil as part of its on-going cost optimisation and business streamlining strategy. The disposal will allow the jeweller to re-organise its resources and focus on its core business, it told Bursa Malaysia. (The Star-5 Jan 2011)

Pelangi Publishing acquires Johor land for RM3.98m Top

Pelangi Publishing Group Bhd acquired three plots of Johor land from Mahabuilders Bhd for RM3.98 million, it announced on Wednesday, Jan 5. The three plots total in size 12,317 sq m and located in Mukim Plentong, Johor Bahru. The group said that it plans to construct a bigger printing factory on the land. (The Edge-5 Jan 2011)

Mammoth Empire buyer of Damansara Perdana land Top

The Mammoth Empire Group was the recent buyer of two pieces of land in Damansara Perdana, Selangor, from MK Land Holdings Bhd. It is learnt that Datuk Sean Y.T. Ng, founder of the Empire Group, had made the offer via Foster Estate Sdn Bhd. This is the fourth piece of land the Empire Group is buying from MK Land. MK Land announced on January 4 that Foster Estate plans to buy two pieces of land in Damansara Perdana, comprising 7.4ha and 3.3ha for RM100.8 million and RM29.2 million respectively. The group's current projects in Damansara Perdana includes Empire City, an integrated lifestyle commercial development on a 9.2ha site; Empire Damansara, a mixed development; and Empire Residence. Empire Residence, a high-end gated and guarded development on 19.2ha of land, is a joint venture with MK Land. Damansara Perdana sits next to the thriving Kota Damansara township and it is also close to the new planned development of the Rubber Research Institute Land in Sungai Buloh. (NST-11 Jan 2011)

Nam fatt sells Klang land for RM24.90psf Top

Nam Fatt Corp Bhd (NFCB) is elling 9.26 acre of land in Klang to Panorama Positif Sdn Bhd for RM10.05 million, or RM24.90 psf. The price is based on the valuation conducted in December 2010 and the disposal is expected to generate a nett gain of RM4.461 million for NFCB. (NST-14 Jan 2011)

Axis-REIT to sell Port Klang complex Top

AXIS Real Estate Investment Trust (REIT) hopes to complete the sale of an industrial complex in Port Klang for RM14.5 million by the end of June this year. Axis will make a net gain (after real property gains tax) of RM764,000 from the sale to freight services firm Freight Management Sdn Bhd. (NST-18 Jan 2011)

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Jetson Development buys land in Penang Top

Kumpulan Jetson Bhd’s 51% subsidiary, Jetson Development Sdn Bhd, is buying three plots of first grade freehold land in Penang from Malaysia Building Society Bhd for RM14 million. The company said the purchase fits into its strategy to implement boutique developments in Penang, which will appeal to the niche local and foreign property buyers, who demand luxury and secluded prestigious address. (NST-19 Jan 2011)

IOI Corp exchange land with Mayang Top

IOI Corp Bhd’s wholly-owned subsidiary Resort Villa Golf Course Bhd (RVGC) has entered into a conditional land exchange agreement with Mayang Development Sdn Bhd (MDSB). Under the agreement, RVGC will swap its 51.6-acre freehold parcel in Pekan Bukit Besar in Sepang, Selangor, with MDSB,s freehold site of about the same size in Dengkil. According to a valuation report date Oct 28, 2010, the market value of the two parcels are RM20 psf and RM18.50 psf respectively. (NST-21 Jan 2011)

SP Setia bags land in Jalan Bangsar Top

SP Setia Bhd has landed prime parcel measuring 40.22 acres along Jalan Bangsar in Kuala Lumpur as a result of a land swap deal with the Ministry of Health (MoH). The land located closed to the company’s ongoing Setia Eco City project and diagonally opposite KL Sentral is slated for an intergrated mixed development of residential and commercial projects. The 40.22-acre parcel is situated 3km southwest of the city centre, enjoys direct frontage onto Jalan Bangsar and is accessible from the city via Jalan Parlimen, Jalan Mahameru and the Federal Highway via Jalan Travers. Currently housing five agencies of the National Institute of Health (NIH), the land was acquired in exchange for 53.33 acres in SP Setia’s flagship township of Setia Alam in Shah Alam, Selangor. It will be developed into an intergrated health and research complex on behalf of MoH called the 1NIH Complex. (NST-21 Jan 2011)

AmCorp completes UK buy Top

Amcorp Properties Bhd, through its wholly-owned subsidiary Riverich Ltd, has completed the acquisition a freehold residential property in London from Abaca Services Ltd for £7.3 million (RM35.62 million). The property comprises 10 self contained apartments, located within the London Borough of Kensington and Chelsea, Amcorp Properties said yesterday. (NST-22 Jan 2011)

Bina Puri unit buys land in KK for RM4.5m Top

Bina Puri Holdings Bhd said its wholly owned subsidiary, Bina Puri Properties Sdn Bhd has acquired a parcel of land in Kota Kinabalu, Sabah of about 1.95 acres for RM4.5mil. Group managing director Tan Sri Tee Hock Seng said in a statement yesterday that the land would be developed into a serviced residence, with an estimated gross development value of about RM60mil. The land will be used for the development of one block of service apartments consisting 100 units with sizes ranging from 1,500 sq ft to 4,500 sq ft. (NST-22 Jan 2011)

Glomac buys land Top

Glomac’s wholly-owned unit, Glomac Alliance Sdn Bhd, has sealed a sale-and-purchase agreement with Score Option Sdn Bhd to buy 80ha of leasehold land in Puchong, Selangor, for RM77 million. (NST-25 Jan 2011)

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At RM77mil for 200 acres leasehold land in Puchong, analysts say it’s a steal Top

Glomac Bhd's proposed acquisition of leasehold land in Puchong from Score Option Sdn Bhd (SOSB) will be advantageous to the property developer for its attractive price and strategic location, analysts said. At RM77mil for 200 acres, the effective cost of the land worked out to be RM8.84 per sq ft, which was significantly lower than the range of transacted or asking prices of RM32 to RM48 psf in Puchong. “The purchase price is deemed cheap,” TA Research said in its report. (The Star-26 Jan 2011)

Tambun Indah unit buys land in Penang Top

Tambun Indah Land Bhd's wholly-owned unit, Epiland Properties Sdn Bhd is buying two parcels of land in Butterworth, Penang from Hussain Imam Md Ismail and Ayesha Mohamed Ismail for RM11 million. (NST-27 Jan 2011)

Seacera disposes Selayang land for RM62m Top

Seacera Tiles Bhd has entered into a sale and purchase agreement with Syarikat Fu Yuen Sdn Bhd for the disposal of a freehold land in Bandar Selayang, for RM62 million. The disposal of the 5.84-hectare land with a factory building erected thereon, will be satified by RM43 million in cash and an exchange of a seven-and-a-half-storey building known as Wisma Fu Yuen at Jalan Ipoh valued at RM19 million. (NST-28 Jan 2011)

Equine unit calls off land purchase deal Top

Equine Capital Bhd’s wholly-owned unit Taman Equine (M) Sdn Bhd has scrapped a deal to buy a parcel of land in Selangor from Jelang Puncak Sdn Bhd for RM47.4 million. The two companies will instead sign a joint development agreement (JDA) to build shop offices worth RM198.1 million on the land, Equine said in a filing to Bursa Malaysia yesterday. (NST-28 Jan 2011)

Tien Wah Properties to sell land in Klang Top

Tien Wah Press Holdings Bhd’s wholly-owned unit, Tien Wah Properties Sdn Bhd, has sealed a deal to sell a parcel of land in Klang, Selangor to Daijin Tech (M) Sdn Bhd for RM9.2 million. (NST-28 Jan 2011) Wing Tai buys Jalan Tun Razak land for RM806 psf Top

D&P-Ejenawa Sdn Bhd, wholly owned by Nikmat Jaya Sdn Bhd, which in turn is fully owned by Wing Tai Malaysia Bhd, is buying 2.13 acres of freehold land in Jalan Tun Razak, Kuala Lumpur, from Her Majesty The Queen of Right of Canada, for RM75 million cash or RM806 psf. Wing tai directors said they plan to develop a residential project on the land. (NST-28 Jan 2011)

Setia Indah to acquire 106ha in Johor Baru Top

SP Setia Bhd’s wholly-owned unit Setia Indah Sdn Bhd has entered into a conditional sale and purchase agreement with Kenyalang Property Development Sdn Bhd to buy 106ha in Johor Baru, Johor, for RM125.8 million. It told Bursa Malaysia yesterday that it intends to develop a mixed residential development project on the land. (NST-29 Jan 2011)

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Tiger Synergy buys land Top

Tiger Synergy Bhd's wholly-owned MyHarmony Development Sdn Bhd plans to acquire two pieces of freehold agricultural land for RM4.14mil. The company has entered into a sale-and-purchase agreement with Sau Kia Sing to acquire 1.18ha in the 10th mile to Sg Besi Road. (NST-23 Nov 2010)

SP Setia acquires 265.7-acre land in Johor Top

SP Setia Bhd is purchasing a 265.7 – acre piece of land in Johor Baru for RM125.78 million, it announced on Jan 28. On the same day, its unit Setia Indah Sdn Bhd entered into a condition sale and purchase agreement with Kenyalang Property Development Sdn Bhd for the land, which will be developed into a mixed residential project. The group has been present in Johor for more than 13 years, and has four ongoing projects – Bukit Indah Johor, Setia Indah Johor, Setia Tropika and Setia Eco Gardens. (The Edge-7 Feb 2011)

GSB sells Jalan Kapar hotel for RM22m Top

GSB Group Bhd (GSB) subsidiary, Serta Usaha Sdn Bhd, is selling its property in Jalan Kapar off Syed Putra in Kuala Lumpur to Leopard Holdings Sdn Bhd for RM22 million. The property, which includes 9,838 sq ft of freehold land and a 13-storey hotel, currently offers a total lettable area of 33,4006 sq ft. (NST-11 Feb 2011)

R.H Plantation buys palm oil land Top

Rimbunan Sawit Bhd’s subsidiary, R.H. Plantation Sdn Bhd, is buying 4,857 hectares of oil palm land in Niah, Sarawak, from Sheba Resources for RM118 million. Rimbunan Sawit noted in a filing to Bursa Malaysia yesterday that Sheba owns the land that is currently charged to Agro Bank Malaysia Bhd for RM145 million. In the memorandum of understanding signed yesterday, both parties agreed that RH Plantation will take over the existing loan facility from February 1 2011 or apply for new loan to redeem the existing one by Sheba. (NST-12 Feb 2011)

IGB to sell The Gardens Mall Top

IGB Corp Bhd plans to sell The Gardens Mall, which has an indicative value of RM820 million, to its subsidiary KrisAssets Holdings Bhd, for cash as part of its ongoing streamlining scheme. KrisAssets, its 75 per cent unit, essentially operates like a real estate investment trust, and the purchase will give it a new source of recurring income. IGB entered into an agreement yesterday for KrisAssets to buy all of the shares in Mid Valley City Gardens Sdn Bhd (MVCG). The purchase price will depend on the net tangible asset of MVCG for the fiscal year ended December 31 2010. The four-year- old The Gardens Mall has an indicative value of RM820 million. (NST-15 Feb 2011)

TNB to buy Dua Sentral tower Top

Tenaga Nasional Bhd (TNB) will purchase the 33-storey corporate tower with 460 car parking bays of Dua Sentral from Magic Coast Sdn Bhd, wholly owned by Amanahraya Hartanah Sdn Bhd, for RM232.2 million. With a lettable area of 430,000 sq ft, it will be used to house TNB’s departments in the Petaling Jaya and Bangsar areas. Dua Sentral, comprising a hotel as well as residential and corporate suites, is expected to be completed by July. (NST-18 Feb 2011)

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JCorp selling land to repay part of debt Top

Johor Corp will sell a parcel of land it owns in Johor as part payment for the RM3.6bil debt that is due in July 2012, says president and chief executive officer Kamaruzzaman Abu Kassim. He also said the land had a market value of more than RM2bil. The land was located within parts of Johor Baru that were earmarked for development under the RM1.8bil Johor Baru city centre transformation plan, he told Starbiz after the recent EGM of Kulim (M) Bhd - the main listed company under the JCorp stable. JCorp also owns 3,237.48ha land in Sungai Belungkor, Kota Tinggi. It plans to sell 404.68ha, which is close to the Pengerang oil and gas hub, to the state government. (The Star-21 Feb 2011)

Premium to sell assets Top

Premium Nutrients Bhd plans to sell its palm oil refinery complex, together with subdivided plots of land where the refinery is situated, machinery and certain stocks to ST Refinery Sdn Bhd for RM15.5 million. “The proposed disposal of the refinery complex is to discontinue with non-core operations and mitigate losses. The significant portion of Malim Sawit’s revenue is derived by producing edible oils utilised by related companies. (NST-22 Feb 2011)

SP Setia buys Cyberjaya land for RM420mil Top

SP Setia Bhd has bought 108.5ha of prime freehold land in Cyberjaya's flagship zone for RM420.4mil from Setia Haruman Sdn Bhd. The land will be developed as Setia Eco Glades project by Setia Eco Villa, a joint-venture company between SP Setia Bhd which holds 70% and Setia Haruman Sdn Bhd 30%. SP Setia president and chief executive officer Tan Sri Liew Kee Sin said the project would be a mixed residential and commercial development. "It is expected to have a gross development value of RM3 billion. (The Star-3 Mar 2011)

SBC sells PJX space, Buys KL land Top

SBC Corp Bhd’s wholly-owned Kiara East Property Sdn Bhd is selling its 15,853 sq ft commercial space in PJ Exchange (PJX), a 33-storey building comprising an office tower and an eight-level retail and car park podium in Petaling Jaya, Selangor, to Inter Consortium (M) Sdn Bhd (ICM) for RM7.13 million. SBC said it will use the sale proceeds to buy nine pieces of vacant freehold land totaling 24,691 sq ft along Jalan Tun Razak, Kuala Lumpur, from ICM for a total of RM8.62 million. The land has been proposed for 15-storey office building with a GDV of RM47.64 million. SBC has also entered into an agreement to acquire 17,995 sq ft of land in KL from Medan Muda Sdn Bhd for RM6.74 million for the development of a 19-storey office building with a GDV of RM42.54 million. (NST-4 Mar 2011)

Selangor Dredging arm buys London property Top

Dredging Bhd’s indirect 50-associate SDB Guernsey Ltd, has signed a deal with the trustees for The Kengsington High Street Syndicate in London to buy a piece of land and building for £9.83 million (RM48.36 million)The four-storey building is now leased to HSBC Bank Plc on a 15-year full repairing and insuring deal expiring in February 2020.

(NST-11 Mar 2011)

S P Setia acquires land in Cyberjaya for RM3 bil development Top

SP Setia Bhd has acquired 268.11 acres of freehold land in Cyberjaya from master developer Setia Haruman Sdn Bhd for RM420.4 million. (The Edge-14 Mar 2011)

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SDB Guernsey to buy land in London Top

SDB Guernsey Ltd, a wholly-owned company of Chedstone Investment Holdings Pte Ltd, has signed a contract to acquire a piece of land in Kensington High Street, London. The purchase price for the property, RM48.3mil the deal is expected to be funded by a combination of internally generated funds and bank borrowings. (The Star-11 Mar 2011)

GuocoLand sells Melaka land to PKNM Top

GuocoLand (Malaysia) Bhd is disposing of a 500-acre tract in Melaka to Perbadanan Kemajuan Negeri Melaka (PKNM) for RM45 million. The developer announced on March 4 that PKNM had accepted an offer from Continental Estates Sdn Bhd, a 50% assoclate company of GuocoLand for the proposed sale of the land in Jasin, Melaka.

(The Edge-14 Mar 2011)

PKNS plans to sell its properties Top

The Selangor State Development Corporation (PKNS) aims to sell 80% of its properties worth RM608mil this year, its Deputy General Manager (Administration and Development) Noraida Mohd Yusof said. She said the properties included new housing projects being developed in Alam Nusantara, Antara Gapi, Kota Puteri and Kuala Selangor. “Consumers are confident and are realistic about our properties which are strategically located and priced reasonably,” she told Bernama after attending the PKNS 2011 Clients Day celebration at Kompleks PKNS last Saturday. PKNS sold 89.7% of its properties last year worth RM669mil, involving a total of 2,244 residential units. She said PKNS would also take advantage of the My First House scheme launched by Prime Minister Datuk Seri Najib Tun Razak last Tuesday. Through the scheme, individuals, especially the younger generation with income of less than RM3,000, would be able to get 100% loan from the selected financial institutions to buy houses priced between RM100,000 and RM220,000, with a repayment period of up to 30 years. (The Star-14 Mar 2011)

Cocoaland unit buys land Top

Cocoaland Holdings Bhd said its wholly-owned unit CCL Food & Beverage Sdn Bhd entered into a S&P agreement yesterday with Riviera Properties Sdn Bhd to buy freehold industrial land in Rawang for RM7.85mil. The land will be used to build a factory and warehouse for Cocoaland Group's business expansion. (The Star-15 Mar 2011)

EPF buys third London property for £148mil Top

The Employees Provident Fund (EPF) has bought a commercial building in central London from Union Investment for 148mil. It marks the EPF's third property investment there since announcing an allocation of 1bil for British property purchases, Savills Rahim & Co said. EPF, in just seven months of unveiling the buy-British plans in August, has spent 485mil of the 1bil allocation. The central London and international team of London-based property consultancy Savills handled the sale of the 225,000-sq-ft office building. The building is located at 65, Fleet Street, London EC4. It is currently used by law firm Freshfields Bruckhaus Deringer as its headquarters until 2021. It has a yield of 5.75%. EPF's other two property purchases are One Sheldon Square in Paddington Central, which was bought for 156mil, and 40 Portman Square near Oxford Street which was acquired for 180mil. The two properties have yields of 5.75% and 5.55% respectively. (The Star-18 Mar 2011)

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German fund sells Lion Group malls Top

Germany-based TMW Asia Property Fund is selling three of its Malaysian shopping complexes – Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negeri Sembilan – for an estimated RM500 million. TMW bought the malls from Lion Group for RM340 million in 2005. (NST-18 Mar 2011)

Atlan to dispose of assets for RM33m Top

Atlandings Bhd has agreed to dispose of two pieces of land in Batu Ferringhii, Penang, together with a single-storey sales office for RM33 million cash. The proposed disposal will allow it to capitalise on the opportunity arising from the appreciation in the market value of the properties and to streamline the group’s assets. (NST-18 Mar 2011)

OSK Property acquires land Top

OSK Property Bhd bought 16 acres of prime freehold commercial land in Cyberjaya's flagship zone from Setia Haruman Sdn Bhd for some RM86.5mil. The land is for a mixed development comprising studio to family-sized serviced apartments, shop offices, office suites and a retail mall with a gross development value of RM1.2bil.

(The Star-25 Mar 2011)

Putra Place finally sold for RM514m Top

The Putra Place in Kuala Lumpur has finally been sold to OSK Trustee Bhd for RM513.95 million, some three years after the property was first put up for auction. The auction, held yesterday, is believed to be the largest public auction in Malaysia. Among OSK's clients, speculation is that Sunway REIT is the buyer. Sunway REIT's chief executive officer Datuk Jeffrey Ng Tiong Lip did not answer calls from Business Times. This move is not surprising as Sunway REIT manages malls, hotels and offices. Putra Place encompasses The Mall shopping complex, the Legend Hotel and an office tower. This purchase will also strengthen Sunway REIT's position as Malaysia's largest trust. The property was first auctioned in April 2008 and the price was then set at RM705 million. The latest reserve value was RM513.95 million. The Mall comprises eight levels of podium retail/shopping units. The Putra Place office tower covers the tenth floor to the 33rd, while the 25-storey Legend Hotel includes serviced apartments and penthouses. It is located on Jalan Putra opposite the Putra World Trade Centre. The freehold property, with 193,621 sq ft space, has 1,323 parking bays.

(NST-31 Mar 2011)

RETAIL CORNER

Nine-storey mall for Cheras Top

1Shamelin shopping mall, in Taman Shamelin Perkasa, has over 1,000 swanky stores and about 1,500 parking bays. At its soft launch held at Westin KL Hotel recently, Wong Chee Keong, senior complex manager of 1Shamelin said: "What 1Shamelin is to KL is what Wu Feng Pu is to Taipei, Dongdaemun to Seoul, Platinum Fashion Mall to Bangkok, and Takeshita Street to Tokyo." "1Shamelin will re-energise this part of the city, Cheras, and set a benchmark as the destination for shopping, dining, entertainment, and wellness, targeting a catchment area of 500,000 residents within a five-minute drive". (NST-1 Jan 2011)

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Carrefour opens first store in India Top

The 5,200 sq m wholesale store in the east of the capital New Delhi and is open to food firms, institutions, restaurants and retailers. “This first step is essential to allow the Carrefour teams to fully understand the specificities of the Indian market and then build our presence in other formats,” Carrefour Group chief executive Lars Olofsson said. Indian regulations mean that “cash and carry” is the only way that foreign firms can establish a presence in the country except for single- brand chains such as Reebok and Levi's. (The Star-1 Jan 2011)

Hypermart opens two more stores in Klang Valley Top

It was double the joy for Carrefour as it opened two new stores in Seksyen 23, Shah Alam and Puchong Utama, Puchong recently. Carrefour Puchong is well integrated with a food court and with a seating capacity of 100 people and 55 retail outlets selling a wide range of merchandise such as Optimal Optical, Diamond Water Filter, Watsons, Subway and a car park for 485 vehicles at any one time. Both the stores stock over 60,000 products, offering a one-stop convenience for both leisure and busy shoppers meeting their grocery and other shopping needs. (The Star-1 Jan 2010)

‘Retail Merchant Of The Year’ award for mall Top

PAVILION Kuala Lumpur added another award to its growing list of trophies recently. It was conferred the “Retail Merchant Of The Year” award by global payment solutions powerhouse MasterCard Worldwide at the ‘MasterCard Hall of Fame Awards 2010’. This is Pavilion KL’s 19th award since opening in 2007, and ninth award for 2010. The prestigious annual award show celebrates the best card marketing programmes pioneered by banks and merchants throughout the region. (The Star-1 Mar 2010)

Rasa Sayang first to offer local cuisine on Oxford Street Top

Rasa Sayang Express is the first Malaysian restaurant to open on Oxford Street, one of London’s busiest shopping streets, in the heart of the West End. Aiming to make Malaysian cuisine available for everyone, the good-sized portions, efficient service and affordable prices mean that customers can be in and out in 30 minutes. (The Star-1 Mar 2011)

Tesco to spend big on expansion Top

TESCO Stores (Malaysia) Sdn Bhd plans to invest RM280 million and open four more hypermarkets over the 12 months, from March this year. This would bring the number of stores it has nationwide to 40. Last year, Tesco Malaysia made RM3.6 billion in revenue. The final two stores will open in Manjung, Perak, on January 14, and in Putra Nilai, Negri Sembilan, on February 28. (NST-4 Jan 2011)

First hypermarket for Port Dickson Top

The first hypermarket to open in Port Dickson was the Giant Superstore in Lukut. The store, GCH Retail Sdn Bhd’s 144th, had shoppers at the gates as early as 7am hoping to take advantage of the opening day specials. Its chief operating officer Tom Herriott said the newly-opened RM48mil hypermarket promises to offer shoppers quality products at lower prices. The hypermarket has a trading space of 42,074 square feet stocked with products including fresh produce, groceries, electrical appliances, apparel and footwear. GCH Retail owns Giant and Cold Storage supermarkets.

(The Star-5 Jan 2011)

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QSR to open 20 new Pizza Hut outlets Top

QSR Brands Bhd (9415)plans to open 20 new Pizza Hut outlets nationwide this year, said its senior general manager, Ling Mee Jiuan. Ling said that at present, there are 220 Pizza Hut outlets in the country offering dine-in, takeaway, delivery and online ordering services. QSR Brands is the franchisee for the Pizza Hut chain in Malaysia and Singapore. The company has to date more than 260 outlets in both countries. (NST-5 Jan 2011)

Poh Kong to open three new outlets this year Top

Poh Kong Holdings Bhd, the country's largest jewellery retail chain store, plans to open three more outlets this year. The company at present has 97 outlets in Malaysia. Executive chairman and group managing director Datuk Choon Yee Seiong said the three new outlets would be located in Peninsular Malaysia with the first outlet expected to be opened in Nilai, Negri Sembilan, in the first quarter of this year. (The Star-7 Jan 2010)

QSR to spend RM40m on new outlets this year Top

QSR Brands Bhd, which holds and operates the Kentucky Fried Chicken (KFC) and Pizza Hut franchises, will be investing over RM40mil to expand its restaurant outlets this year. QSR and KFC Holdings (M) Bhd (KFCH) managing director Jamaludin Md Ali (pic) said the company would be investing RM20mil and RM25mil to open 20 Pizza Hut and 25 KFC outlets respectively. “We will be investing about RM1mil per outlet. About 15 of the KFC branches will be drive- through outlets,” he told reporters at a memorandum of understanding (MoU) signing ceremony yesterday between KFCH, Felda and the Felda Youth Council (MBFM). (The Star-8 Jan 2011)

Harvey Norman plans Klang Valley expansion Top

Harvey Norman plans to open another 20 stores in the Klang Valley in the next five years, an exercise that will cost it close to RM100 million. Its managing director Angelo Augustus said that the 20 stores included the four it currently operates - three in the Klang Valley and one in Penang - since its inception in 2003. It now plans to add four more stores in the Klang Valley by the end of this year. "We are planning to open another new outlet this month in Mont Kiara and another at City Mall in Ara Damansara in March. "The other two stores that will be operational by year-end are Setia Mall in Shah Alam and the Paradigm in Kelana Jaya." (NST-8 Jan 2011)

Developer to spruce up mall area Top

Team Keris Bhd has pledged RM4mil to spruce up the surrounding areas of the Station 18 commercial area in anticipation of the completion of Perak’s largest shopping mall. A five-storey Jaya Jusco with an internal built-up area of 1.2 million sq ft is expected to be ready by February next year within the Station 18 area in Pengkalan. He said Aeon Co (M) Bhd, formerly known as Jaya Jusco Stores Bhd, signed a sales and purchase agreement on June 28 last year with three parties which included Kemboja Iringan Sdn Bhd for the acquisition of the land. Kemboja Iringan is a member of Team Keris. He said the new Jaya Jusco was expected to provide a modern shopping environment for the estimated 500,000 households here and areas such as Batu Gajah, Papan, Tanjung Tualang, Pusing and Seri Iskandar. The first Jaya Jusco here opened in 1997 near Jalan Sultan Azlan Shah Utara. (The Star-8 Jan 2011)

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Furniture retailer opens 4th outlet Top

Anogen Sdn Bhd managing director Gary Ng said the new 280sq m showroom located in Jalan Maarof carries brands like Nature's Rest, Dunlopillo and Cozzia -- Malaysia's first massage sofa produce by Ogawa World. The company is also a retailer of a wide variety of mattresses and bedding products. Anogen has outlets in Kota Kemuning, Tropicana City Mall and Solaris Mont Kiara. (NST-12 Jan 2011)

Domino’s targets 15 outlets outside Klang Valley Top

Domino's Pizza is making its foray into untapped markets in Peninsular Malaysia, targeting to open 15 outlets outside of the Klang Valley this year. Ba U Shan-Ting, chief operating officer of Dommal Food Services Sdn Bhd (the sole owner of the American pizza franchise outlets in Malaysia) said one of the cities would be Johor Baru. Domino's Pizza Asia Pacific Region vice-president Steven Pizziol signing a plaque during the opening of Domino's Pizza's 50th outlet at Gunung Rapat in Ipoh on Wednesday. Joining in the happy moment is Domino's Pizza Malaysia and Singapore executive chairman Datuk George Ting (right) and Domino's Pizza Malaysia and Singapore chief operating officer Ba U Shan-Ting (centre). On the Gunung Rapat outlet, which is the third one in the city, Ba said Ipoh had given the company a huge morale booster. ”Sales have been beyond expectations,” he added, noting that Domino's Pizza entered the Ipoh market three months ago. (The Star-14 Jan 2011)

Domino's plans 150 outlets in Asia Pacific Top

Domino's Pizza is looking at opening 150 outlets throughout the Asia-Pacific region, including 15 in Malaysia by year- end. Domino's Pizza International vice-president for Asia Pacific Steven Pizziol said it is looking at expanding to countries like Cambodia, Laos and Thailand in the coming months once it finds the right partner. "For last year, our revenue for the region was US$1 billion, (RM3.06 billion) while the global revenue is around US$6 billion (RM18.4 billion)," he said, adding that the financial figures of the company will be announced next month. Domino's Pizza is listed on the New York stock exchange. Pizziol also said that the company is looking for master franchise to open up its chain of food businesses in Hong Kong, Bangladesh and Sri Lanka, in where it has yet to have a presence. Meanwhile, Domino's Pizza chief operating officer for Malaysia and Singapore Ba U Shan Ting said it currently has 52 stores in Malaysia and plans to increase this to over 100 stores in five years. Shan Ting, who is also responsible for business expansion in Singapore, said Domino wants to grow bigger in the republic this year, planing to have 10 more stores from the existing eight. (NST-14 Jan 2011)

KFCH to invest RM40mil in expansion this year Top

KFC Holdings (M) Bhd (KFCH) will invest RM40mil this year to expand its KFC restaurants operation and sausage processing plant to augment growth. The group also plans to increase its outlets to 545 by year-end from the 520 currently. “We will be investing RM25mil for the restaurants expansion and RM15mil for the expansion of the processing plant in Port Klang. KFCH has three processing plants namely at Port Klang, Johor and Bukit Mertajam. KFCH is the franchisee for KFC Malaysia, Singapore, Brunei and India. KFCH recorded RM1.84bil revenue for the first nine months ended Sept 30, 2010, representing a growth of 9.9%, compared to RM1.67bil in the same period of the previous year. Pre- tax profit was up by 17.1% to RM158.4mil from the RM135.3mil in the same period previously.

(The Star-17 Jan 2011)

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ExxonMobil aims to open 10-12 petrol stations this year Top

ExxonMobil is aiming to add another 10-12 petrol stations this year to the current 560. “Last year, we opened 10 stations. For 2011, our target is about 10 to 12 stations,” Esso Malaysia Bhd's head of the retail business sector, Faridah Ali, told reporters at the launch of Exxonmobil's new Dual Fleet Card here yesterday. (The Star-19 Jan 2011)

KFC Hldgs to have 25 more RasaMas outlets Top

KFC Holdings (Malaysia) Bhd (KFCH) (3492) plans to invest some RM12.5 million or about RM500,000 per outlet to expand its chain of RasaMas restaurants this year by adding 25 outlets. Both RasaMas and Ayamas, the two locally developed products by KFCH, contribute about 5 per cent to the group's total revenue. For the nine months ended September 30 2010, KFCH posted a 9.9 per cent growth in revenue to RM1.84 billion. RasaMas has 36 restaurants in Malaysia and three outlets in Brunei. (NST-19 Jan 2011)

Mydin opens new hypermarket in Penang Top

Homegrown wholesale and retail giant Mydin Mohamed Holdings Bhd has launched a new hypermarket in Bukit Jambul, Penang. Mydin managing director Datuk Ameer Ali Mydin said another hypermarket would soon be operational at Meru Raya, Ipoh in Perak. On average it would cost about RM150mil to build a hypermarket and typically it had to be at least 50,000 sq ft. Mydin has purchased the 14 sites for the hypermarkets for RM165mil. To date, Mydin has 57 branches nationwide, including four hypermarkets, 18 emporiums, two bazaars, 24 mini markets (MyMydin), three 24-hour convenience stores and six franchises. (The Star-21 Jan 2011)

Tesco plans 3 more stores in Penang, Kedah Top

Tesco Stores (Malaysia) Sdn Bhd is expanding its business in the northern region by opening three more outlets in Penang and Kedah within this year. Tesco Malaysia chief operating officer Tim Golding said the company wanted to bring its Tesco offers to more customers and the new outlets will be opened at Seri Tanjung Pinang in George Town, Penang, and in Kulim and Alor Star, Kedah. He said the new outlet at Seri Tanjung Pinang is expected to open in June. "Tesco Malaysia also has further developments in Alor Star and Kulim, where two more of our outlets will be opening this year. Both projects cost about RM50 million each," he said at the official launch of Tesco Bukit Mertajam at Jalan Rozhan yesterday. (NST-22 Jan 2011)

McDonald's unveils initiatives to meet changing trends Top

MCDONALD'S Malaysia is projecting up to 20 per cent sales growth this year on the back of a series of initiatives launched in line with the changing trends in customers' demand. The group breached the RM1 billion mark in sales last year, a 24 per cent increase from 2010. McDonald's Malaysia will invest RM112 million to open 21 new stores nationwide and remodel 13 existing outlets this year. The company aims to expand its restaurants to 300 outlets by 2014 from 204 outlets currently. "There are currently 76 restaurants with Drive-Thru facilities and we plan to open 20 more this year," said managing director Sarah Casanova during the unveiling of McDonald's new restaurant design in Kota Damansara, Selangor, on Saturday. The new restaurants will be located in the Klang Valley, Johor and Penang and would create some 1,500 job opportunities. McDonald's Malaysia commands 42 per cent of the Quick Service Restaurant market share locally; serving more than 12 million customers a month. (NST-24 Jan 2011)

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US shoemaker plans 5 stores in Klang Valley by year-end Top

Stride Rite, a US brand specialising in children's footwear, has made its way into Malaysia and plans to open five stores in various locations in the Klang Valley by the year-end. Stride Rite country manager Carol Chua said two stores have already been in operation since this month and are located at Bangsar and Subang Jaya, respectively. "We have just opened our flagship store at the Empire shopping complex in Subang Jaya and we hope to open another three more in KLCC in April, One Utama in September and in Paradigm, Kelana Jaya in December," said Chua after the grand opening of the Stride Rite flagship store in Subang Jaya yesterday. (NST-29 Jan 2011)

Tony Roma's opens 6th outlet Top

Tony Roma's launched its sixth Malaysian outlet at 1 Mont Kiara, here, recently. It has a seating capacity of 250. Revenue Valley, master franchisee of Tony Roma's in Malaysia, was given the rights to develop outlets in Thailand, Cambodia, Vietnam, Indonesia (Bali) and parts of China in an agreement in 2009. (NST-11 Feb 2011)

Boutique store opens at KLIA Top

Following the success of its first Experience Boutique, Martell launched a new luxury shopping experience in KL International Airport (KLIA) last December. The prestigious Cognac brand continues to provide quality and creativity within the Cognac market by opening another boutique which offers a luxurious and interactive plus educational space. Showcasing Martell’s premium products, the boutique will be situated in a high-traffic location, where both arriving and departing passengers will pass its doors, ensuring the brand is at the forefront of the consumer experience at the Kuala Lumpur International Airport. Thibaut de Poutier, managing director, Pernod Ricard Asia Duty Free said: “We are delighted to continue the expansion of Martell’s boutique experience to travellers at Kuala Lumpur International Airport. The style is consistent with the new international signature for Martell and highlights the brand’s positioning as a contemporary, luxury cognac, while ensuring it stays true to its heritage.” (NST-14 Feb 2011)

Berjaya Books to open 2 major Borders stores Top

Berjaya Books Sdn Bhd will open two major Borders bookstores this year, with investments of more than RM1 million for each store in a drive to grow under strong sentiments. Berjaya Books currently operates five Borders bookstores in the Klang Valley and one in Penang. (NST-19 Feb 2011)

Uniqlo store to open in KLCC Top

Following the success of the very first Uniqlo store in Malaysia, Japan’s No.1 fashion brand and worldwide leader in casual wear, is set to open its second store in the country during the second quarter of 2011 at the most iconic landmark in the city, Suria KLCC. Uniqlo will be taking over a prominent location on the ground floor and its one-storey store will occupy 7,862 sq ft and offer over 300 items of stylish, high quality and affordable clothing. (The Star-21 Feb 2011)

Berjaya Food plans to open more outlets Top

Berjaya Food Bhd (BFood) sees the current trend of healthy food consumption as an opportunity for its business to expand in the country through its chain of Kenny Rogers Roasters restaurants. BFood has a 100% stake in Berjaya Roasters (M) Sdn Bhd, which operates the chain of Kenny Rogers Roasters restaurants in Malaysia. Chief executive officer Datuk Francis Lee says the group plans to open eight to ten new outlets throughout Malaysia this financial year

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(ended April 30, 2011), promoting its healthy menus to society. On average, Lee said the group spent RM2mil to RM3mil yearly on its A&P campaigns to promote its business which currently had 65 outlets. “From the total outlets, 52 restaurants are under us while the rest are handled by our franchisees,” he said, adding that the group had no plan at the moment to give out more franchise licences as it wanted to control the stores' quality. (The Star-21 Feb 2011)

Lamborghini Caffe arrives in KL Top

Lamborghini Caffe is already a household name in Italy and parts of Europe, having made its debut there in the 1990s. Now, Klang Valley folks can have a taste of Tonino’s gourmet coffe that was launched at the Bangsar Shopping Centre on Wednesday. The Tonino Lamborghini Group, founded in 1981 by Tonino, is based in Palazzo del Vignola, a renaissance villa nearby Bologna. (The Star-27 Feb 2011)

Local brand opens in 1 Mont Kiara Top

Homegrown fashion brand Le Ann Maxima recently opened its ninth boutique in Malaysia simultaneously with the soft opening of the latest retail mall in the Klang Valley - 1 Mont Kiara. This is the eighth franchised outlet for the brand since the fashion house embarked on its franchise system two years ago. The fashion label created and owned by e-Maxim Fashion Sdn Bhd, a company which was started by three friends 10 years ago, introduced its franchise system to provide aspiring fashion entrepreneurs an opportunity to venture into the fashion retail business. Le Ann Maxima has its own flagship store located at Jaya One in Petaling Jaya. (The Star-4 Mar 2011)

Bata to upgrade image with reopened flagship store Top

Kicking off a new era with a brand new look, Bata Malaysia officially reopened their premier flagship store in Jalan Tuanku Abdul Rahman recently. The grand opening was officiated by the daughter of Bata Shoe Organisation founder, Christine Bata Schmidt, who expressed her joy in witnessing the brand’s notable 50 years of achievement in Malaysia. She added that Bata was proud to be one of the well-known shoe brands in Malaysia, and hopes that the brand will continue to be a popular choice in the country. “Our new store concept was built to provide a cosy ambience to customers and more space to for easy access of our new collections,” said Lee Sin Kee, marketing manager of Bata Malaysia. Lee said that Bata is also introducing several international brands into their collection such as Rockport, Hush Puppies, Nike and Adidas. “Bata is now in 52 countries worldwide, and the changes would be introduced progressively to the stores. This year, Bata plans to renovate over 40 stores in Malaysia, as part the rejuvenation of the brand. The Bata Premier store is located at 122, Jalan Tuanku Abdul Rahman, Kuala Lumpur. (The Star-5 Mar 2011)

Germany-based TMW to sell 3 malls in Malaysia Top

TMW Asia Property Fund, which is based in Germany, is selling three of its shopping complexes in Malaysia which it purchased in 2005 for an estimated RM500 million. The shopping complexes are Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negri Sembilan. International property consultant Rahim & Co, which has been appointed as the exclusive agent to handle the deal, declined to comment when contacted. The fund bought the three properties - under the operating companies Lion Klang Parade Sdn Bhd, Lion Seremban Parade Sdn Bhd and Lion Ipoh Parade Sdn Bhd - for RM340 million in 2005 from the Lion group. According to previous reports, Seremban Parade has a nett lettable area of 316,847 sq ft and sits on 1.97ha, Ipoh Parade has a nett lettable area of 594,414 sq ft on 4.14ha, and Klang Parade has 696,045 sq ft space. (NST-7 Mar 2011)

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Mydin out to strengthen foothold Top

Wholesale and retail giant Mydin Mohamed Holdings Bhd, which is optimistic of achieving RM1.5 billion sales for the year ending March 31 2011, wants to strengthen its foothold in the country before considering overseas venture or listing. The home-grown retailer plans to open 14 hypermarkets within three years with over RM1.3 billion investment. "We plan to issue RM350 million bond, which will cover the cost of three hypermarkets. Mydin, together with Carrefour and Tesco, in collaboration with Domestic Trade, Cooperatives and Consumerism Ministry, will invest RM5.43 billion over the next 10 years in the Transformation of Small Retailer Shops Kedai Runcit (TUKAR) project to help modernise traditional retail shops to enhance their competitiveness. (NST-9 Mar 2011)

Jardine to invest in 8 more Giant outlets Top

Jardine Matheson group, owner of Malaysia's Giant hypermarket chain, will invest some RM650mil in eight more Giant hypermarkets in the country this year. Four of the new hypermarkets are in the Klang Valley and the rest in Sarawak two in Kuching and one each in Sibu and Miri. The Jardine Matheson group operates Malaysia's Giant hypermarket chain through subsidiary firm Dairy Farm. Dairy Farm regional director for East Asia Datuk John Coyle said the company would invest RM400mil in the four new Giant hypermarkets in the Klang Valley, and RM250mil in the other four Giant hypermarkets in Sarawak. “There are now 67 Giant hypermarkets/super stores and 69 Giant supermarkets in Malaysia,” he said after a site tour of the nearly completed building to house the Giant hypermarket in Tabuan Jaya here yesterday. In Sabah, there are now eight Giant hypermarkets and nine Giant supermarkets. (The Star-10 Mar 2011)

Parkson expands to Indonesia Top

Department store operator Parkson Holdings Bhd has entered into an “exclusivity agreement” with PT Tozy Bintang Sentosa for a period of 90 days for the purpose of developing and expanding in Indonesia. The company’s board said Tozy Bintang Sentosa, which expected sales turnover in excess of US$100mil for 2011, operated six retail stores under the brand names of Centro Lifestyle Department Store and Kem Chicks in Indonesia and was adding two more outlets this year. (The Star-18 Mar 2011)

Royal Selangor expands overseas Top

Royal Selangor International Sdn Bhd plans to open an outlet each in Australia and Hong Kong this year. Its general manager Yong Yoon Li told StarBiz that the rationale was to tap young married couples who were keen to buy pewter products for their homes. Then there is the tourist market in Hong Kong that we can tap into. “In Australia, we plan to set up a retail outlet in Sydney to tap the local market,” he said. Royal Selangor currently has 10 retail outlets abroad in Japan, Hong Kong, China, Australia, the United Kingdom and Singapore. It also has sales offices in Japan, Hong Kong, China, Australia, the United Kingdom, Singapore and Canada, supplying to the wholesale market.

(The Star-18 Mar 2011)

Footwear brand opens maiden outlet in KL Top

Popular footwear brand Dr Kong Footcare, opened its first outlet in the Tropicana City Mall, Petaling Jaya recently. In his welcome speech, Lee, who is a trained UK-registered orthotist and prosthetist, said it was important to educate young children on footcare. “Good footcare begins with healthy, comfortable shoes especially for those working in industries where they are on their feet for long hours,” said Lee. Dr Kong Footwear has grown rapidly over the years, expanding to 54 retail outlets in Hong Kong and 65 retail outlets in China. (The Star-25 Mar 2011)

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Courts Malaysia plans eight more stores this year Top

Courts Malaysia, the largest consumer electronics and furniture retailer in Malaysia, plans to open up eight more outlets in the country this year to add to its existing 52 stores, said Courts Asia chief executive officer Terry O'Connor. The group just opened its latest store in the middle of this month at Jalan Tuanku Abdul Rahman (Jalan TAR) in Kuala Lumpur. The new 5,000-square foot Courts Jalan TAR is the first electronics-only Courts store to date, featuring a wide range of digital, electronic and IT products. Courts has been in Malaysia for the past 24 years. It is the largest consumer electronics and furniture retailer in Malaysia with a network of 52 stores nationwide and a staff strength of 1,100. (The Star-26 Mar 2011)

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