DOCSLIB.ORG

Crest Builder to Bid for More Government Land Projects

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Crest Builder to Bid for More Government Land Projects Headline Crest Builder to bid for more government land projects MediaTitle The Edge Date 12 Mar 2018 Color Full Color Section Corporate Circulation 23,635 Page No 38,43 Readership 70,905 Language English ArticleSize 520 cm² Journalist Kamarul Azhar AdValue RM 9,022 Frequency Weekly PR Value RM 27,066 Crest Builder to bid for more government land projects BY KAMARUL AZHAR velop a 4.61-acre parcel in Brickfields, next structure of the LRT station.The base retail "Based on the feedback obtained from to the Tun Sambanthan monorail station, structure was completed in 2017. the local authorities, we expect all the clear- onstruction and property player Crest while TRC Synergy will undertake a com- "We were among the first companies to ances to be resolved and cleared this year Builder Holdings Bhd will contin- mercial-residential project near the Ara be awarded a TOD development project with and we expect to commence the submis- ue to bid for development projects Damansara LRT station. Prasarana. Therefore, a lot of the processes sion of the development order in 2018 as on government land, unperturbed At the time, Prasarana targeted to mon- — especially to convert the land status — well," says Yong. by the more than two-year delay etise its land bank on and along the LRT were not smooth. Besides the TOD projects with Prasarana, Cin developing such projects in Jalan Dang and monorail lines and expand its non-fare "Now that we have learnt from the expe- Crest Builder also has a project with the Ma- Wangi and Jalan Ampang, Kuala Lumpur, revenue to 30% by this year. This is similar rience with the Dang Wangi LRT TOD, the laysian Rubber Board (MRB) in Jalan Ampang. and Kelana Jaya in Petaling Jaya. to Hong Kong's MTR Corp and Singapore's processes will be much smoother if we se- In 2012, Landasan Bayu Sdn Bhd, Crest Joint ventures with government agencies SMRT Ltd's business model. cure more TODs from Prasarana," says Yong. Builder's 51:49 joint venture with Tindakan that hold the land will give Crest Builder The first TOD project that Crest Builder Crest Builder soft-launched Latituds in- Juara Sdn Bhd, secured a deal for the redevel- entry into prime and strategic plots at a low and its partner Detik Utuh Sdn Bhd secured ternationally in Hong Kong, China and Tai- opment of the MRB land in Jalan Ampang. cost, enabling it to expand its property de- was a mixed-use development on top of the wan, which saw 35% the residential units However, the project has yet to take off due velopment business, says managing director Dang Wangi LRT station. Prasarana has a booked. Due to the current soft property to lengthy negotiations with the landown- Eric Yong Shang Ming. 21.2% share of the total gross development market, the local launch has been pushed er, says Yong. "Provided the location of the land is good, value (GDV). till later this year. The building plan is still under evalua- I will look at it. We are eyeing quite a few The Dang Wangi TOD project, called Lat- Besides the Dang Wangi LRT TOD, Crest tion by Kuala Lumpur City Hall. such plots," says Yong in an exclusive inter- itud8, will comprise a boutique transit mall, Builder has also secured the redevelopment The project, called Elevat8,will comprise view with The Edge. open offices, small office/home office resi- of the Kelana Jaya LRT station. It has signed a 28-storey corporate tower — as payment in Crest Builder is among the few companies dences and a rooftop entertainment lounge. the joint land development agreement with kind to MRB — and three 45-storey residen- that entered into agreements with Prasara- It has a GDV of RM1.2 billion. Prasarana, which will get a 24.8% share of tial towers on top of double-storey shoplots, na Malaysia Bhd to develop transit-orient- However, it took Crest Builder about two the GDV. with two levels of basement parking. It has ed developments (TOD) on the latter's land years to convert the land status from a 60- The project will comprise mini retail lots, a GDV of RM1.33 billion. along light rail transit lines, the monorail year lease to Prasarana for the purpose of a corporate tower and two residential towers To replenish its land bank, Yong says the and LRT depot in 2012. operating a rail public transport system to with a GDV of RMl billion. The redesigna- group is also looking at the government's land Other companies that have secured TOD a 99-year lease. tion and realienation of the land, plus the swap model, in which strategically located developments with Prasarana include Bina The agreement with Prasarana was fi- re-zoning by the Selangor government are parcels are transferred as a consideration Puri Holdings Bhd and TRC Synergy Bhd. nalised in 2015 and by 2016, Crest Builder ongoing, says Yong.The project was secured for construction of its facilities. Bina Puri was awarded a contract to de- had started strengthening the underground by Crest Builder in late 2013. CONTINUES ON PAGE 43 Headline Crest Builder to bid for more government land projects MediaTitle The Edge Date 12 Mar 2018 Color Full Color Section Corporate Circulation 23,635 Page No 38,43 Readership 70,905 Language English ArticleSize 520 cm² Journalist Kamarul Azhar AdValue RM 9,022 Frequency Weekly PR Value RM 27,066 Tajuddin's daughter, Sri Rahayu Ta- juddin, his wife, Datin Seri Rohkiah Abd Looking at land Samat, each have a 35% stake while the rest is owned by his son Firdaus Tajuddin. swap deals too Sri Rahayu also holds a 40% stake in Detik Utuh, which in turn holds 49% eq- uity interest in the joint venture for the FROM PAGE 38 LatitudS project in Jalan Dang Wangi. In fact, Crest Builder is currently ne- For the financial year ended Dec 31, gotiating a land swap deal in Kepong 2017, Crest Builder reported a jump in net worth RM400 million, says Yong. The profit to RM29 million, from RM15 mil- land is located in Kepong Metropolitan lion in the preceding financial year, on Park, part of which is under water. the back of a 76.8% increase in revenue. While negotiations on the construc- The board has announced a dividend per tion contract are still ongoing with the share of 4% for the year. Ministry of Home Affairs and the Royal The group currently has a construc- Malaysian Police, Crest Builder already tion order book of RM1.8 billion, which has a vision of the type of development will last it for about 2Vi years. Crest Build- that would be suitable for the site. er is targeting a yearly contract replen- The market in Kepong is ripe for mid- ishment value of RM500 million, and die-high cost high-rise properties, says has put in tenders for RM3 billion worth Yong. of projects. On the MRB land development, Crest Closing at 92 sen last Thursday, Crest Builder set up a special-purpose vehicle Builder had a market capitalisation of on Oct 16 last year, called K L Water- RM157 million. front Development Sdn Bhd, in which The Yong family owns a 39.03% stake the group has a 51% stake. The rest is through SC Holdings Sdn Bhd. B owned by its partner for the MRB land, Tindakan Juara. A check with the Companies Com- mission of Malaysia shows that Tin- dakan Juara is owned by the wife and children of Datuk Seri Tajuddin Abdul Rahman, Deputy Minister of Agriculture and Agro-Based Industry and Member of Parliament for Pasir Salak. Tajuddin's daughter, Sri Rahayu Ta-.
Load more

Recommended publications
  • Malaysia Real Estate Highlights
    RESEARCH REAL ESTATE HIGHLIGHTS 1ST HALF 2016 KUALA LUMPUR PENANG JOHOR BAHRU KOTA KINABALU HIGHLIGHTS KUALA LUMPUR HIGH END CONDOMINIUM MARKET The residential market continues to remain lacklustre with lower volume and value of transactions recorded. ECONOMIC AND MARKET INDICATORS Limited project completions and new Malaysia’s economy expanded at a launches of high end condominiums / slower pace in 2015 with Gross Domestic residences during the review period. Product (GDP) growing at an annual rate of 5.0% (2014: 6.0%). For 2016, the Government has trimmed the country’s Growing pressure on rentals amid GDP growth forecast to 4 - 4.5% due to strong supply pipeline (existing and the volatility in crude oil prices and other new completions) and a challenging economic challenges. GDP continued rental market while prices in to moderate in the first quarter of 2016, the secondary market generally posting 4.2% growth, its slowest since continue to remain resilient. 3Q2009 (4Q2015: 4.5%), driven by domestic demand. Private consumption expanded by 5.3% while private Developers adopt innovative ‘push investment moderated to 2.2%. marketing’ strategies to boost Headline inflation for April 2016 registered at sales of selected projects and 2.1%. It is expected to be lower at 2% to 3% improve revenue. this year, compared to an earlier projection Aria of 2.5% to 3.5% and will continue to remain stable in 2017. (432 units) and The Residences at The Meanwhile, labour market conditions St. Regis Kuala Lumpur (160 units). continued to weaken with more retrenchment of workers, particularly in By the second half of 2016, the scheduled the manufacturing, mining and services completions of another five projects will sectors.
    [Show full text]
  • Download Brochure
    FREEHOLD REINVENTING COMMUNITIES Artist’s Impression AN ALL INCLUSIVE COMMUNITY The Suite is the most exciting and Inviting you to be amongst a anticipated co-living and co-working community of like-minded people, space in Kuala Lumpur. In today’s fast one that shares your values in paced digital world, urban dwellers defining the perfect hybrid and knowledge entrepreneurs home-office experience, demand enhanced ways of living, here at The Suite. entertaining, working and interacting. CO-WORKING The latest buzzword in reinventing the concept of traditional offices into one that adds the flexibility and comforts of your space. Whether working as an individual or as a collaboration, The Suite completes COMMUNITY LIFESTYLE your needs in a home and workspace, The Suite sits quietly within an all in one place, complete with all the enclave, just one street off the right trimmings. international offerings of Jalan Ampang. SUITE DREAMS ARE MADE OF THESE The perfect place to live, a definition that evolves through time. Changing based on progress, trends and needs, which come about with modernity. The Suite checks all four boxes that matter now, in order to achieve this new hybrid living concept with success. CO-LIVING SHARED SPACES The Suite gathers like-minded Shared facilities, conveniences urbanites who have a mutual and services allow for much need for convenience, access, more to be offered to the entertainment and rejuvenation. urbanites and entrepreneurs here. Now we are able to cater Satisfy your lifestyle with a to a wider range of lifestyles, host of experiences offered, appetites and interests. or simply retire in the privacy of your living space for some alone time, whenever you need.
    [Show full text]
  • Property Summary Office Cont'd
    134 SUNWAY REIT ANNUAL REPORT 2016 PROPERTY SUMMARY ¶OFFICE· ¶CONT’D· SUNWAY WISMA PUTRA TOWER SUNWAY LOCATION LOCATION KUALA LUMPUR SELANGOR DATE OF ACQUISITION DATE OF ACQUISITION 19 APRIL 2011 23 MARCH 2015 ACQUISITION PRICE (RM MILLION) ACQUISITION PRICE (RM MILLION) 80 60 TITLE, EXPIRY DATE & YEARS REMAINING TITLE, EXPIRY DATE & YEARS REMAINING • Geran 10012, Lot No. 38, Seksyen 51 Strata Title • PN 21876/M1/B1/1 • PN 21876/M1/11/10 Kuala Lumpur, Wilayah Persekutuan • PN 21876/M1/1/3 • PN 21876/M1/12/11 TENURE • PN 21876/M1/N1/4 • PN 21876/M1/13/12 Freehold • PN 21876/M1/N1/5 • PN 21876/M1/14/13 • PN 21876/M1/2/6 • PN 21876/M1/15/14 ENCUMBRANCE • PN 21876/M1/8/7 • PN 21876/M1/16/15 1. Charged to Public Investment Bank Berhad • PN 21876/M1/9/8 • PN 21876/M1/17/16 2. Charged to HSBC Amanah Malaysia Berhad • PN 21876/M1/10/9 3. 30 years lease to Lembaga Letrik Negara Tanah Melayu (Tenaga Nasional Berhad) expiring 4 April 29 August 2094 (78 years remaining) 2017 All situated on Parent Lot No. 517 Bandar Shah Alam 4. Private Caveat by Trustee Daerah Petaling, Selangor Darul Ehsan YEAR OF COMPLETION TENURE 1993 Leasehold - 99 years APPRAISED VALUE RM MILLION ENCUMBRANCE 110 - DATE OF LATEST VALUATION* YEAR OF COMPLETION JUNE 2016 1997; Refurbished in 2013 APPRAISED VALUE RM MILLION 62 DATE OF LATEST VALUATION* JUNE 2016 *NOTE: Valued by C H Williams Talhar & Wong Sdn Bhd SUNWAY REIT ANNUAL REPORT 2016 135 PROPERTY SUMMARY ¶OFFICE· ¶CONT’D· SUNWAY MENARA SUNWAY PUTRA WISMA OFFICE ASSETS SUNWAY TOWER TOWER SUNWAY TOTAL Land Area (sq.
    [Show full text]
  • Cover Story Featured Property
    Editor Chief Operating Officer’s Foreword Roshan Kaur Sandhu Writer Reena Kaur Bhatt Head of Creatives Angeline Lim Senior Graphic Designers Jason Kwong Wing Wong Junior Graphic Designer Rechean Soong Ad Operations Executive Nur Alia Ahamd Tamezi Chief Operating Officer - International Arthur Charlaftis Group Finance Director Kenneth A Kent General Manager (Agent Sales) Leon Kong Chief Information Officer Changing The Way The World Experiences Harmit Singh Property! The iProperty Group was welcomed into the REA Group family Head of iProperty TV earlier this year and our growing global team have already united a Jonathan Ong common goal - to change the way the world experiences property. International Correspondents Ee Von Ng & Leslie Lin Just how are we changing the way the world experiences property? Well, with our International site, we have more than 4 million property listings from 56 countries. That’s a world of properties right at your fingertips. To help you make an informed decision about your next property move, iPropertyIQ.com offers insights and data into the property iProperty.com Malaysia Sdn Bhd (600850-K) market. The site offers the most comprehensive source of property Suite 11.01, Level 11 Menara IGB Mid Valley City, Lingkaran Syed Putra data and analytics for Malaysia, Singapore, Indonesia and Hong 59200 Kuala Lumpur, Malaysia Kong, delivering incredible value to property agents, investors and Phone: (603) 2264 6888 developers. Fax: (603) 2264 6900 Sales enquiries: [email protected] We want to continue to deliver innovative solutions that meet the Editorial matters: [email protected] General enquiries: [email protected] needs of both our customers and consumers today and well into Subscription: [email protected] the future.
    [Show full text]
  • Sunway REIT AR 2015 Part 2.Pdf
    96 SUNWAY REIT ANNUAL REPORT 2015 PORTFOLIO AT A GLANCE GEOGRAPHICAL CONTRIBUTION BY PROPERTY VALUE OF RM6.32 BILLION AS AT 30 JUNE 2015 19% KUALA LUMPUR 8% PENANG SUNWAY TOWER SUNWAY PUTRA MALL SUNWAY CARNIVAL SHOPPING MALL SUNWAY PUTRA HOTEL SUNWAY HOTEL SEBERANG JAYA SUNWAY PUTRA TOWER SUNWAY HOTEL GEORGETOWN 1% PERAK 72% SELANGOR SUNCITY IPOH HYPERMARKET SUNWAY PYRAMID SHOPPING MALL SUNWAY RESORT HOTEL & SPA PYRAMID TOWER EAST MENARA SUNWAY SUNWAY MEDICAL CENTRE WISMA SUNWAY SUNWAY REIT ANNUAL REPORT 2015 97 PORTFOLIO AT A GLANCE (CONT’D) Bandar Sunway To Subang Airport Subang Golf Club Freescale (Motorola) Federal Highway Sunway-Setia Jaya Station Railway Line To Kelana Jaya Proposed KTM-BRT integration at ajipan Taylor’s College w Sine Darby SS12 PJS8 Sunway SJ Station Medical Centre PJS 2 Sri KL Toll Plaza an Ke Station Mentari International r School (NPE) Masjid Al-Husna Metropolitan Persia College at Bandar Sunway TO KUALA LUMPUR U-TURN U-TURN CITY CENTRE New Pantai Expressway Link (NPE) TO SUBANG (LDP) JAYA Sunway Sunway Pyramid Sunway Pyramid 3 Shopping Mall Metro Pyramid PROPOSED Tower East NPE LINK PJS9 (Residential Area) Sunway Resort n a Hotel & Spa p Station ) i j P a The Pinnacle D w L Sunway Sunway Lagoon ( e T Line Sunway PJS7 K Sun-U g R Lagoon (Residential Area) n L n Apartment o a PJS11 r Menara h c a Hostel i u s Sunway P r e a Jalan PJS 11/9 P r imur a T s SS13 Sunway n Kompleks BRT Sunway a goon International m a Sunway Lagoon Club a School D a y a Sun - U Sunway Sunway Jalan L Palmville r h Residence Medical Medical
    [Show full text]
  • Showcasing the Heart of Kuala Lumpur and Its Aspiring Surroundings
    SHOWCASING THE HEART OF KUALA LUMPUR AND ITS ASPIRING SURROUNDINGS ORN & BRED XPLORE TORY RANSACTION BEat, play and live EUber-cool SFrom tin town to TKL address at in the Golden metropolis in old sleek city a premium Triangle world charm PLAY ASSISTANT GENERAL MANAGER Ernest Towle [email protected] EDITORIAL General Email [email protected] StarProperty Sdn Bhd (708369-V) Contributing Editor David Yeoh Menara Star, 15 Jalan 16/11, Acting Head of Content Tharmini Kenas 46350 Petaling Jaya, [email protected] Selangor Darul Ehsan. +603-7967 1388 Content Ng Pau Ling +603-7955 2458 Viktor Chong Aisyah Suwardi www.starproperty.my Hakim Hassan www.propwall.my Chinese Editor Foo Kok Meng www.ibilik.my [email protected] StarProperty.my Video Producer Alan Khaw StarProperty.my [email protected] StarProperty.my Designers Kwong Chee Oon Nurul Aida Tajudin StarProperty Queeny Yong StarProperty MARKETING & EVENTS StarPropertyTV General Email [email protected] Head of Customer Ivy Leong Engagement & Support [email protected] Events Kasturi Jayaraman Chloe Teh Nicholas Khoo Elaine Yap Events & Sales Support Amutha Thandaiyuthapani Marketing Manager Faye Tan [email protected] Consumer Sales Specialist Gallen Low SALES (AGENT BUSINESS) Content Strategist Kevin Eichenberger Head of Sales (Agent Business) Kent Thew [email protected] Digital Marketing John Mark Anushah Dewiendren Sales Jayson Tan Nurul Nadiah Kamarudin Verny Lim Sales Support Sanggari Selvan SALES (PROPERTY BUSINESS) iBilik Nurul Huda
    [Show full text]
  • Crest Builder Holdings Berhad Annual Report 2019
    CREST BUILDER HOLDINGS BERHAD CREST BUILDER HOLDINGS BERHAD 200201005719 (573382-P) PENTHOUSE, THE CREST, 3 TWO SQUARE, NO. 2, JALAN 19/1, 46300 PETALING JAYA, SELANGOR DARUL EHSAN, MALAYSIA. ANNUAL REPORT 2019 ANNUAL REPORT TEL • 603 7841 6000 FAX • 603 7841 6088 EMAIL • [email protected] 2019 CREST BUILDER HOLDINGS BERHAD 200201005719 (573382-P) Contents Corporate Profile 02 Sustainability Report 27 Notice of 18th Annual Report of the Audit Committee 48 General Meeting 03 Statement of Overview Statement Accompanying Notice on Corporate Governance 52 of 18th Annual General Meeting 07 Statement on Risk Management Corporate Information 10 and Internal Control 62 Financial Highlights 11 Statement on Directors’ Responsibility 64 Directors’ Profile 13 Financial Statements 65 Key Management Personnels’ Profile 15 List of Properties 173 Chairman’s Statement 16 Analysis of Shareholdings 174 Management Discussion Proxy Form [Enclosed] and Analysis 19 Corporate Structure 26 2 CORPORATE PROFILE Crest Builder Holdings Berhad (“CBHB”) was incorporated in Malaysia under the Companies Act 1965 on 9 March 2002 as a public limited company. CBHB is principally an investment holding company and had successfully undertaken a Corporate and Debt Restructuring Scheme which involved taking over the listing status of MGR Corporation Berhad. CBHB was listed on the Main Board of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 12 June 2003. The CBHB Group was founded in 1983 by the late Mr. Yong Soon Chow. What started out as a small timer of less than 10 staff has grown to a strong corporation of over 200 staff under its stable. Over the past 36 years, the CBHB Group has carved a strong foothold in the local construction industry.
    [Show full text]
  • Crest Builder Holdings Berhad Corporate Presentation
    CBH:MK CREST BUILDER HOLDINGS BERHAD CORPORATE PRESENTATION January 2020 TABLE OF CONTENTS PAGE 2 Company Overview Business Overview Financial Highlights Investment Highlights Appendix PAGE 3 COMPANY OVERVIEW PAGE 4 COMPANY OVERVIEW About Us BUILDING THE NATION Crest Builder Holdings Berhad (“CBHB” or the “Group”) group of companies was first founded in 1983 by the late Mr. Yong Soon Chow. What started out as a small contractor business of less than 10 employees has now expanded to a strong public listed corporation with over 400 employees. Over three decades, CBHB has carved a strong foothold in the local construction and property development industry. Armed with in depth industry experience, CBHB has a proven track record – especially in commercial, residential and institutional building construction. CBHB counts top branded developers and international property players amongst its list of premier clientele. CBHB has also established itself in property development complimented by its in-house team of contruction expertise. Since being established, CBHB has a total property development portfolio bearing a gross development value of approximately RM4.8 billion. CBHB is principally an investment holding company and had undertaken a Corporate and Debt Restructuring Scheme which involved the take over of the listing status of MGR Corporation Berhad. CBHB was then transferred on the Main Board of Bursa Malaysia on 12 June 2003. STOCK INFORMATION PAGE 5 CBH:MK Bursa Malaysia Stock Quote CRESBLD 52 Week Range 0.86 - 1.21 30 Day Average Volume
    [Show full text]
  • ECONOMIC OVERVIEW Property Launches Apartments / Condos
    ECONOMIC OVERVIEW Property launches Apartments / Condos / Townhouses Key statistics Latest releases Previous rates Terraced houses Semi-detached houses Quarterly GDP growth 4.7% (1Q2012) 5.2% (4Q2011) Detached houses Annual GDP growth 5.1% (2011) 7.2% (2010) Consumer Price Index (CPI) 2.0% (Jan-Jun, '12) 3.2% (2011) Industrial Production Index (IPI) 112.8 (May-12) 108.4 (2011) Major news Base Lending Rate (BLR) 6.53% (Jun-12) 6.45% (2011) Mersing Laguna to rival Bali Exchange rate: RM to US dollar RM3.198 (29/06) RM3.057 (30/03) Big plans for Batu Berendam air port SP Setia banks on China project Four Season Place KL to open in 2015 Malaysia's economy grew at 4.7% in the first quarter ended March 31, 2012, a L&G unscathed by new ruling slightly slower pace from the 5.2% in the fourth quarter of last year and 5.1% a year Terengganu approves land for new... ago, despite the challenging external environment. Bank Negara Malaysia (BNM) Serene sanctuary in Ipoh said on Wednesday domestic demand remained firm, supported by both private and Protest against new project public sector economic activity, while exports moderated amid weaker external Tambun Indah developing 5 projects... demand. RM1b boost for I-City Sime Darby plans 11th township Malaysian Institute of Economic Research (MIER) indicated that the country's Masterplan to set up RM15b Perak... domestic consumption and government spending will support growth as overseas RM1.4bil shopping mall and office... demand eases. MIER projected the Malaysian economy to expand by 4.2% in 2012 Billion ringgit tower atop LRT station and 4.7% in 2013.
    [Show full text]
  • Financial Review (Cont'd)
    SUNWAY REIT ANNUAL REPORT 2014 61 FINANCIAL REVIEW (CONT’D) Sunway Hotel Seberang Jaya which completed a major Total income available for distribution was RM245.0 million refurbishment exercise in May 2013, saw a significant an increase of 6% compared to FY2013 of RM231.1 million. improvement in its performance and recorded revenue and Despite the challenges mentioned above, Sunway REIT had NPI growth of 22.6% and 24.0% respectively. The average succeeded to avoid a decline of 0.80 sen in DPU to deliver occupancy improved to 67.8% in FY2014 compared to 51.6% a marginal growth of 0.7% from 8.30 sen in FY2013 to 8.36 in FY2013. sen. The office segment continued to be a challenge in an ASSET RESILIENCY MITIGATED LOST AND REDUCED INCOME FROM oversupply situation exacerbated by rising operating costs. SUNWAY PUTRA PLACE During the financial year, the office portfolio revenue grew 4.5% due to rental reversion. However, the rental growth was totally eroded by the increase in electricity tariff and assessment hike for Kuala Lumpur properties resulting in DPU (sen) a drop in NPI by 1.4%. Average occupancy rate at Menara Sunway which is located within the Sunway Resort City 8.36 (ACTUAL) and with 72.4% of total NLA occupied by the Sunway Group remained stable at 98.8%. Sunway Tower’s average occupancy rate improved slightly from 83.0% in FY2013 to 84.3% in FY2014. However, Sunway Putra Tower’s average occupancy rate saw a further decline from 78.0% in FY2013 to 74.2% in FY2014.
    [Show full text]
  • Media Release Minister of Transport Malaysia
    MEDIA RELEASE MINISTER OF TRANSPORT MALAYSIA 24 MAY 2021 KELANA JAYA LRT COLLISION: MOT REPORT SUBMITTED TO CABINET WITH 23 RECOMMENDATIONS FOR SYSTEMIC IMPROVEMENTS The Ministry of Transport has presented to the Cabinet on Wednesday, 9 June 2021, its report compiled by the Investigation Committee to examine the tragic accident which occurred on 24 May 2021 between the Kampung Baru and KLCC Light Rail Transit (LRT) stations on the Kelana Jaya line. The Government views this incident seriously and has directed the Ministry to strictly ensure that every effort is taken to review and revamp safety procedures and operating guidelines in Prasarana Malaysia Berhad and Rapid Rail Sdn Bhd’s rail services and asset maintenance. The Cabinet Meeting on 9 June 2021 has accepted the Investigation Committee’s 23 recommendations to achieve these systemic improvements expeditiously and the Ministry will audit the progress of these improvements periodically. The overarching goals of the Committee’s findings are to identify any gaps and to recommend systemic improvements to both Prasarana Malaysia Berhad and Rapid Rail Sdn Bhd, and its services. Particular attention was given to ensure that the entire rail service industry and infrastructure management keep public safety as a paramount concern. This report is not for the purpose of apportioning blame nor liability on any party. RECOMMENDATIONS FOR IMPROVEMENTS The Committee’s findings have culminated in an analysis of factors that led to the collision, and from this analysis, there are 23 distinct recommendations for improvements which Prasarana Malaysian Bhd and Rapid Rail Sdn Bhd should implement. There are 5 short term changes, 11 medium term changes, and 7 long term changes that would take more than six months to implement.
    [Show full text]
  • Crest Builder Holdings Berhad BUY Order Book Replenishment in Sight Maintained
    MALAYSIA INVESTMENT RESEARCH REPORT KDN PP13226/04/2013 (032022) JF APEX SECURITIES BERHAD (47680-X) Company Update 5 March 2014 Crest Builder Holdings Berhad BUY Order Book Replenishment In Sight Maintained Share Price RM1.56 Result Target Price RM1.81 • We attended the Q4FY2013 results briefing hosted by Crest Company Description Builder Holdings (CBHB) with further affirmation to our positive CBHB through its subsidiaries provides call on the company. construction, land and property investment, as well as mechanical and electrical services Comment • New contracts in the pipeline – We understand that the Stock Data Group is close to securing two building projects under its Bursa / Bloomberg code 8591 / CBH MK construction division amounting to RM500m in total. We further Main / Construction understand that the Group, which specializes in constructing Board / Sector & Materials high-rise building projects, has got 80% of its tender book Syariah Compliant status Yes targeting building projects that command high profit margin. The Issued shares (m) 159.9 remaining focus is in the infrastructure projects whereby the Par Value (RM) 1.00 Group is aiming for utility-based infrastructure projects Market cap. (RM’m) 247.8 particularly in the East Coast Economic Region (ECER). 52-week price Range(RM) 0.84-1.59 Beta (against KLCI) 1.42 • Starting the year on a positive note – To recap, the Group 3-m Average Daily Volume 0.66m got off to a good start in FY2014 by clinching a contract from 3-m Average Daily Value ^ RM1.01m Naza Engineering & Construction Sdn Bhd worth RM63.9m to construct a 36-storey serviced apartment in Jalan Damansara, Share Performance Kuala Lumpur.
    [Show full text]