20170224 Ep 2356 Lowres Loc
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TEP 2 FRIDAY FEBRUARY 24, 2017 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com volatile material pricing and unpre- Eco World International signs key IPO deals dictable currency exchange rates in the current business environment. Eco World International Bhd (EWI) Meanwhile, EWI has en- “We would like to help them man- The Edge Property has signed three key agreements tered into a master corner- age this by processing their payments with GuocoLand Ltd (GuocoLand), stone placement agreement every two weeks,” he said. “In return, Malaysia the Employees Provident Fund (EPF), with the IPO’s joint global co- we expect our contractors to put their Permodalan Nasional Bhd (PNB) ordinators namely CIMB and best people on our job and deliver and six banks for its initial public Maybank as well as EPF and quality work for our project.” off ering (IPO) exercise. PNB as cornerstone investors. The first agreement is a share The cornerstone investors Sime Darby Property subscription agreement with have agreed to subscribe an launches ‘Big 5’ GuocoLand, in which GuocoLand aggregate of 140.4 million IPO will take up a 27% stake in EWI’s shares or more than 30% of promotion enlarged issued and paid-up capital, the IPO shares allocated as Sime Darby Property is offering Publisher and Group CEO EWI president and CEO Datuk Teow part of the institutional of- first-time homebuyers and loyal Ho Kay Tat Leong Seng said. was also signed with CIMB Invest- fering, comprising 449.459 million customers discounts with its “Big 5” The agreement marks the entry ment Bank Bhd (CIMB), Maybank IPO shares and representing 18.7% promotion for selected properties of GuocoLand, a member of Hong Investment Bank Bhd (Maybank) of its enlarged issued and paid-up located in fi ve of its townships in the Leong Group, as one of three strate- and Hong Leong Investment Bank share capital. Klang Valley and Negeri Sembilan. gic investors together with Eco World Bhd as joint managing underwriters The signing of the three agree- Launched on Feb 17 and ending Group Development Bhd (EcoWorld) and joint writers; and with Alliance ments will be followed with the is- on May 31, the promotion includes The Edge Property Sdn Bhd (1091814-P) and EcoWorld chairman Tan Sri Liew Investment Bank Bhd, AmInvest- suance by EWI of its prospectus in discounts ranging from 5% to 10%, Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Kee Sin, added Teow. ment Bank Bhd and RHB Investment respect of the IPO, which is expected upfront PRIME or double PRIME dis- Petaling Jaya, Selangor, Malaysia A retail underwriting agreement Bank Bhd as joint underwriters. next month. counts, as well as a one-year com- plimentary Astro subscription pack- age. PRIME Th eEdgeProperty.com UEM Sunrise to was inked by both parties recently. BKP to shorten is a loyalty Managing Director/Editor-in-Chief The initial gross development and reward Au Foong Yee develop offices, payment period for apartments on value for the project is more than contractors programme EDITORIAL RM750 million. The unit sizes for the offered to its Editor Lam Jian Wyn MCOBA land in serviced apartments will range from Niche developer Bukit Kiara Prop- homebuyers. Contributing Editor Sharon Kam 1,100 sq ft to 1,500 sq ft. erties Sdn Bhd (BKP) has recently “We hope Deputy Chief Copy Editor Seputeh James Chong “We are very excited to announced that the processing of the Big 5 pro- Senior Copy Editor Sunrise Innovation Sdn embark on this synergis- their contractors’ payments would motion will in- Shanthi Murugiah Bhd, a wholly-owned tic venture with MCOBA. be changed from once a month to spire potential Writers Rachel Chew, Tan Ai Leng, subsidiary of UEM Sun- Seputeh is a mature res- every two weeks. homebuyers to fi nd their ideal homes Natalie Khoo, Shawn Ng, Lum Ka Kay Art Director Sharon Khoh rise Bhd, will undertake a idential neighbourhood, The initiative aims to assist con- that truly refl ect who they are,” said Design Team Nik Edra, Henry Lee mixed development pro- connected to KL city cen- tractors to maintain a healthy cash Sime Darby Property managing direc- ject on the Malay College tre and other urban areas fl ow during these challenging times, tor Datuk Jauhari Hamidi. For New Launches/Events/ Press Releases/News Tips Old Boys Association’s through Jalan Syed Putra and to encourage them to deliver bet- Participating properties are East email: [email protected] (MCOBA) land at Jalan and would appeal to city ter quality for BKP’s VERVE® Suites KL Residence in ALYA Kuala Lumpur, Tel: 03-7721 8211 Fax: 03-7721 8280 Seputeh, Kuala Lumpur dwellers due to its prox- South project, said BKP group manag- The Veo in KL East, Castilla, Si- Email: [email protected] to redevelop a new offi ce building, a imity to amenities and commercial ing director Datuk NK Tong during its phonia and Siphonia 2 in Chemara ADVERTISING & MARKETING banquet hall with a capacity for 1,200 hubs such as Mid Valley City and KL Business Associates Dinner recently. Hills, Saujana Impian’s The Brym- Head of Marketing and Sales people and two blocks of serviced Sentral. The development will become Tong said many business asso- wood and Villa Safira, as well as Sharon Chew (012) 316 5628 apartments. a new landmark for the locality,” said ciates are facing a tight cash fl ow, Planter’s Haven. Senior Account Managers Cecilia Too (012) 319 7666 The development agreement UEM Sunrise’s managing director and Jayne Law (016) 929 3309 CEO, Anwar Syahrin Abdul Ajib. Account Managers How do I get past issues of this weekly pullout? Jayremy Sim (011) 1669 6039 Go to TheEdgeProperty.com Jocelyn Poo (012) 611 5626 trending Marketing Support & Ad Traffi c to download for free Madeline Tan (03) 7721 8218 email: [email protected] now Email : [email protected] NEGOTIATOR ADVISORY SERVICE If you have any real estate-related events, email us at [email protected]. Senior Manager Elizabeth Lay LAUNCHES + EVENTS Senior Associate Stannly Tan Events listed here will also appear on TheEdgeProperty.com. Associate Karen Wong For enquiries and listings Unveiling of Trio show unit architecture and design industry Jade Square @ Jade Hills email: [email protected] soft launch GL: (03) 7721 8175/ 8172 Date: Feb 25 (Sat) including Datuk Seri Lim Chong Email: [email protected] Time: 6pm to 10pm Keat, Jalaini Abu Hassan, Date: Feb 25 and 26 Venue: Trio Sales Galleria, Lot Hijjas Kasturi, Datuk Hajeedar (Sat and Sun) 82623, Jalan Langat/KS06, Bandar Abdul Majid, Pamela Tan Poh Time: 10am to 5.30pm TheEdgeProperty.com pullout is published by The Edge Property Sdn Bukit Tinggi 1, Klang, Selangor Din and Dr Tan Loke Mun. Venue: Jade Hills Sales Gallery, Bhd. It is available with The Edge Contact: (011) 1212 2535 Persiaran Jade Hills Utama, Financial Daily every Friday. The / (017) 385 2735 Funbruary at Cybersouth Jades Hills, Kajang, Selangor pullout is also distributed at more than 200 offi ces, shopping complexes, S P Setia Bhd will be unveiling Date: Feb 26 (Sun) Contact: (03) 8741 0707 project off ers double-storey condos, medical centres, F&B outlets the show unit of its Trio mixed Time: 10am to 5pm Gamuda Land introduces bungalows and semi-dees. and LRT stations in the Klang Valley. development in Klang with Venue: Cybersouth Property Jade Square, a new You can also download it for free at fun-fi lled family activities Gallery, Dengkil, Selangor commercial landmark at Exclusive launch of St John’s www.TheEdgeProperty.com such as a lion dance, 3D photo Contact: (019) 243 5071 its Jade Hills township in Place, Manchester booth, food bazaar, fi reworks, / (019) 683 4995 Kajang. It comprises 2- to Date: Feb 25 and 26 (Sat and Sun) lucky draw and others. MCT Bhd is bringing fun to 3-storey retail spaces. Time: 11am to 6pm Th e Edge Malaysia families for the entire month Refreshments will be served. Venue: Level 2, Straits Art and Architecture EDITORIAL of February. Spend the day Boardroom, Westin Editor-in-Chief Azam Aris Symposium frolicking in the sun doing Grandezza show village Hotel, Kuala Lumpur CORPORATE Date: Feb 25 (Sat) fun activities. Snacks and opens @ Eco Sanctuary Contact: (012) 3260 8000 Chief Operating Offi cer Lim Shiew Yuin Time: 3pm to 5pm meals will be served. Date: Feb 26 (Sun) / (012) 908 6318 ADVERTISING & MARKETING Chief Commercial Offi cer Venue: Pertubuhan Akitek Time: 11am Situated in the heart of Sharon Teh (012) 313 9056 Malaysia, 99L, Jalan Tandok, Venue: Eco Sanctuary, UK’s Manchester city centre General Manager Bangsar, Kuala Lumpur Lot 41296, Persiaran Eco and directly adjacent to Kingston Low (012) 278 5540 Senior Sales Managers Contact: (03) 2693 4182 Sanctuary, Telok Panglima Spinningfields — the Fong Lai Kuan (012) 386 2831 Organised by PAM or the Garang, Selangor central business district of Gregory Thu (012) 376 0614 Malaysian Institute of Architects Contact: (03) 3344 2525 Manchester — St John’s Place Kamalesan Parama (012) 394 4855 Michael Tan (012) 213 0252 in conjunction with the opening Eco World Development Group is slated for completion by Creative Marketing reception of Khoo Sui Hoe @ Bhd invites all to visit the show 3Q2020. Prices start from Chris Wong (016) 687 6577 PAM Centre, the symposium village featuring its Grandezza £227,500 (RM1.26 million) for Head of Marketing Support & Ad Traffi c features talents from the project at Eco Sanctuary. The a 1-bedroom apartment. Lorraine Chan (03) 7721 8001 Email: [email protected] TEP 4 FRIDAY FEBRUARY 24, 2017 • THEEDGE FINANCIAL DAILY FRI NEWS RM Value of overhang units in the primary cre the stro for residential market up 80% y-o-y con ab sha BY NATALIE KHOO an the KUALA LUMPUR: Some RM8.27 billion Residential overhang units in Malaysia (3Q2013-3Q2016) abo worth of completed homes on the prima- ry market have gone unsold as of the third ert quarter of 2016 (3Q2016).