ISSUES: 04/2011 MONTH: APRIL 2011

Property

News

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Issues 2: 1-30 April 2011

GENERAL ECONOMIC & PROPERTY MARKET

1. Quiet 1Q in the (The Edge Property, 15-Apr-2011) . According to Siders Sittamplam, managing director of PPC International Sdn Bhd, the Klang Valley property market has been quiet in the 1Q 2011 though it has picked up however, dows not expect the market to be more vibrant in the coming months. . School festive holidays in January and February, the New Year, Thaipusam and Chinese New year do contribute to the slowdown which began at the tail end of 2010. . The 2Q 2011 would see some improvement over 1Q as there are more transactions of commercial and residential properties in April 2011. . With the current rise prices of fuel, essential items, local and international events such as the impending general election in and natural disaster in Japan) not much was expected in vibrancy market as the

property market works within the framework of the economy, it is bounded to be affected. GENERAL ECONOMIC & PROPERTY MARKET . Other factor such as the reduction of the loan-to-loan value ratio to 70% for third-house buyers and the probability of further interest rates could have an impact on property market.

2. GDP growth to decelerate to 4.5 per cent in first half 2011 (Bernama, 15-Apr-2011) . Malaysia’s gross domestic product (GDP) growth is expected to decelerate to 4.5 per cent in the first half (1H) of 2011 vis-to-vis 9.4% in the same period last year. . According to Kenanga Research, the services sector along with the mining and agriculture sectors would play a major role to support growth in the 1H 2011 amid the languishing manufacturing output. The combined 3 sectors are expected 20 contribute about 3.2% to the overall GDP growth in 1H 2011. . Since October 2010, the government had announced 51 key projects under the Economic Transformation Programme (ETP), with estimated investment worth RM90.1 billion. . The key infrastructure economic project would be the Greater KL Mass Rail Transit system estimated at RM36 billion scheduled to start in July 2011, based on Kenanga Research. . With more than 5 years to complete, it is expected to generate the biggest multiplier impact in and around the Klang Valley over the next decade.

3. M’sian economic recovery sustainable, inflationary risk up (The Star, 7-Apr-2011) . A survey by Malaysian Rating Corp Bhd (MARC) shows that market participants are optimistic the economy will stay in recovery mode but they also agreed that inflationary risk has heightened. . Most also believed that ringgit in range of 3.00 to 3.10 against the greenback with unanimous expectations of monetary tightening this year. . MARC said in the report published on its website that 61.3% of the 33 fund managers, bank treasurers, market researchers, advisors and investment bankers were confident the economy would grow 5% to 6%

this year with 29% expected the economy would grow less than 5%. . Respondent unanimously agreed that inflationary risk is on the upside, with 59.4% looking at headline inflation in the range of 2.5% to 3% this year, while the remaining 40.6% believe that inflation could even surpass 3%. . MARC added 78.1% predicted the central bank to hike the overnight policy rate (OPR) while 18.8% expected the pause mode to persist over the same period. . Of the sub-sample that expects interest rate hikes in 2011, 75.9% thinks that the OPR will close the year in the range of 3% to 3.25% while the remainder believes that the quantum of rate hike should be in range of 50 to 75 basis.

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4. Downtrend in property loans (The Star, 6-Apr-2011) . Bank Negara’s move to require house buyers to pay a higher deposit seems to be weeding out speculation in the property market, said by some analysts . It is monthly statistical bulletin last week showed that for fourth consecutive months since November, the number of loan application to buy residential property has reduced. . On November 2010, the central bank announced a 70% loan-to-loan value (LTV) cap on a borrower’s

third and subsequent house-financing facility GENERAL ECONOMIC & PROPERTY MARKET meaning that these buyers would have to fork out 30% of the purchase price. . Drop in housing loan applications and reduction in the number of loans approved would eventually lead to a softening of the property market. . Additionally, developers will find it more difficult to push sales and this will lead to a softer property market too.

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DEVELOPMENT LAND TRANSACTIONS

5. Development land (zoned for commercial) sale in Cheras Selatan (Bursa Malaysia, 29-Apr-2011) Location Along Jalan Goh Hock Huat. Its southeast boundary fronts onto Lorong Tampin. Vendor FK Realty Sdn. Bhd. (subsidiary of Fung Keong Rubber Manufactory (Malaya) Sdn. Berhad)

Purchaser Berkeley Sdn. Bhd. (subsidiary of Paramount Corporation Berhad)

Title details Lots Nos. 932, 933, 934, 935, 1873, 2518, 2519, 1875 and 164, all within of Land tenure Freehold

Mukim/ District Mukim of Kapar, District of Klang, State of TRANSACTIONSLAND DEVELOPMENT Description . The land is currently zoned for commercial use under Majlis Perbandaran Klang and has been approved for commercial development. . There are currently being used as a factory and a warehouse. . The proposed development is an integrated commercial hub and expected to commence in financial year 2012 and span over a development period of approximately 10 years. Land area 1,270,209.6 sq ft @ 29.16 acres Price RM110,000,000 @ RM86.60 per sq ft

Date of SPA 29 April 2011

6. Development land sale in Seberang Perai (Bursa Malaysia, 1-Apr-2011) Location Batu Kawan, Seberang Perai Selatan, Pulau Pinang Vendor The Penang Development Corporation

Purchaser Abad Naluri Sdn. Bhd. Property details Parcel 2B

Land tenure Leasehold 99 years upon its alienation by the State Authority of Penang to the Penang Development Corporation Mukim/ District N/A

Description . The land will be subjected to the category of land use for mixed development comprising residential and commercial properties. . At present the land is bare and vacant. . The land is strategically located within 4km from the landing of the Second Penang Bridge on the mainland at Batu Kawan. Built-up area 5,490,302.40 sq ft @ 126.04 acres

Price RM16.75 million @ RM3.05 per sq ft Date of SPA 31 March 2011

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RESIDENTIAL PROPERTY IN KLANG VALLEY

7. Residential land sale in Cheras Selatan (Bursa Malaysia, 26-Apr-2011) Location Cheras Selatan, Hulu Langat, Selangor Vendor Webcon Sdn. Bhd. Purchaser SDB properties Sdn. Bhd. (subsidiary of Selangor Dredging Berhad) Title details Held under Geran Mukim 3320, Lot 33945, Tempat Hulu Sungai Balak, Pekan Ceras. Land tenure Freehold Mukim/ District District of Hulu Langat, State of Selangor

Description . The Vendor has obtained the approval for conversion of the land

use of the property from 'agriculture' to 'building' for residential use and has complied with all terms of payment of charges, premium and fees. . The Vendor has obtained a development order to develop a housing development consisting of 540 units of condominium. Land area 391,149.74 sq ft @ 36,339 sqm Price RM31,000,000 @ RM79.25 per sq ft

RESIDENTIAL PROPERTY Date of SPA 26 April 2011

8. Residential property prices may see some correction (The Edge Property, 29-Apr-2011) . Based on Gavin Tee, Founder and President of Swhengtee International Sdn Bhd, residential property prices may see corrections this year. Having escalated too quickly last year, property prices may soften for certain locations. . Property prices were seen rising since 2007 and last year’s level was especially high. Areas that don’t normally have high appreciation have also seen impressive capital gains. . He adds that over the long term, the next few years until 2020 would be a good period to invest in property, mainly due to implementation of developments under the Greater Kuala Lumpur Plan with the aim of supporting 10 million residents.

. Greater KL will encompass 279,327ha, an area four times the size of Singapore. It is envisaged that by 2020, 7 out of 10 Malaysians will be living here. It will be a livable city and an economic hub covering 10 municipalities with more open spaces, improved waterfronts and a superior public transport system. . Covering Klang and , and stretching past the Selangor coastline, Greater KL will also include the green belt of Templer's Park in . . Several proposed infrastructure and mega projects would be completed by 2020 and that is when the property market should be at its peak as more supply feeds a growing population. . He said there are certain areas property investors can start looking at from this year which include the city centre for both residential and commercial properties; areas to be developed under the Economic Transformation Programme such as and Jalan Imbi, as well as tourism hot spots such as Melaka for commercial properties.

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9. Peridot Hilltop Residence sold out during launch (The Edge Property, 27-Apr-2011) PROJECT NAME Peridot Hilltop Residence Location Emerald Township, Rawang, Selangor Developer Guocoland Malaysia Bhd and Hong Bee Land Sdn Bhd Type Bungalow Lots GDV RM33 million No. of units 66 Tenure Freehold Land area 5,200 - 10,700 sq ft Developer selling price RM350,000 - RM910,000 @ (From RM67 per sq ft) Launching date April 2011 Sales Performance 100% (sold during weekend launch)

Features Lush landscaping and is located at 250 ft above sea level.

Notes . The Peridot Hilltop Residence is the last phase of the Peridot

gated-and-guarded enclave, which comprises 232 bungalow lots.

. A Chinese school and a new AEON shopping mall due for completion at the end of the year are expected to add value to the township.

RESIDENTIAL PROPERTY

10. IJM offers Summer 2-storey terraces in S2 Heights (The Edge Property, 25-Apr-2011) PROJECT NAME Summer, S2 Heights Location S2 Heights, Seremban Developer IJM Land Bhd Type 2-storey terrace homes GDV RM70 million No. of unit 230 Development land area 22 acres Tenure Freehold Built-up area 1,840 sq ft An Artist’s impression of the Developer selling price From RM295,800 Summer, S2 Heights

Launching date April 2011 (soft launch) Notes . During the soft launch, only 80 units were open for sale. . Summer phase is opposite a new Chinese primary school which is expected to be complete by the end of this year. The development is also near to the alternative access road to the Kuala Lumpur International Airport. . IJM Land has about 1,500 acres in S2 Heights, which is an extension of its Seremban 2 township. The S2 Heights is being developed in four phases and would take about 8-10 years to be fully completed. . S2 Heights was introduce in late 2008 which saw five sub-phases in Phase 2 being launched through 2008 and into 2009. In 2010, two more sub-phases were introduced, namely Serena and Suria. . Future launches there will be semi-detached, namely Savanna (28 units) and Safiya (30 units). Developer track records . On previous launches, Phase 2A (Lyrica, 123 units single-storey terraced) has been fully sold out; Phase 2B (Serena, 116 units of 2-storey terraced) and Phase 2C (Suria, 157 units of 2-storey terraced) are both 75% sold. . Phase 2D (Symphony, 117 units double-storey terraced); Phase 2E1 (Sonata, 36 units

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of double-storey semi-detached); as well as Phase 2F (Melody, 157 units of double- storey terraced), all are sold out.

11. The revival of Land & General (The Edge Property, 18-Apr-2011) . When Hong Kong-based property tycoon Tan Sri David Chiu emerged as a substantial shareholder in Land & General (L&G) in August 2007, there was speculation of a possible asset injection or take over exercise. . The new management spent the last few years quietly cleaning house and strengthening the foundation of the company. . L&G plans to develop its remaining 43 acres freehold land in Sri Damansara. . Of the 43 acres land in Sri Damansara, only half of it will be developed into high-rise residential units while the rest will be retained for greenery and parks. . Phase 1 of the Sri Damansara project will be launched late of 2011, comprising 928 units of luxury condominiums with built-up of 1,200 to 1,600 sq ft at indicative selling price from RM 400 per sq ft. . Phase 1 of The Elements @ Ampany a luxury condominium project in Ampang was 60% sold in 2 weeks for a sales value or Gross Development Value (GDV) of RM200 million.

. Phase 1 and 2 of the Elements @ Ampang have a combined GDV of RM700 million. It is a joint-venture RESIDENTIAL PROPERTY development between L&G and the Mayland Group, The launch of Phase 2 (Block B) is scheduled in late 2011.

12. Still going strong (The Edge Property, 17-Apr-2011) . Being in the property development industry for over 30 years, Tanming Bhd has kept a low profile with hardly any publicity for its property launches. . To date, the company has developed over 7,590 homes with an estimated value of over RM1.6 billion mostly in , Cheras and in Selangor. . It has amassed an impressive total landbank of about 1,500 acres in Selangor, of which 532.2 acres are undeveloped. . Tanming started out with its flagship project, Taman Tanming Jaya in Balakong in 1986 when the area was still a rubber estate. The 230 acres development, comprising 2269 residential units, 532 factories and 63 shops, was completed in 1998 and has a population of 12,000.

An Artist’s impression of The Taman Tanming Indah 2 Pearl

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PROJECT NAME The Pearls Golden Pearls Taman Tanming Indah 2 Location Taman Tanming Mutiara 2, Bandar Taman Tanming Mutiara 3, Taman Tanming Indah 2, Sungai Long Bandar Sungai long. Developer Tanming Berhad Tanming Berhad Tanming Berhad GDV 230 million 140 million 175 million Type Superlink houses and 3-storey bungalow 3-storey bungalow bungalow plots No. of unit Superlink - 156 77 95 Bungalow plots - 6 Development land 25.5 acres 20 acres N/A area Tenure Freehold and part of Malay Freehold N/A Reserve Land Built-up area 6,898 - 7,004 sq ft 3,506 sq ft N/A Land area 7,020 - 14,935 sq ft 4,003 - ,8111 sq ft N/A Developer selling From 3.38 million From RM1.88 million Yet to be decide price Sales performance N/A

60% 60% RESIDENTIAL PROPERTY Launched date 2Q and 3Q 2011 2Q and 3Q 2011 3Q 2011 Completion date 1Q 2013 1Q 2013 N/A Special Features . Comprise 3 designs named Akoya . Each unit has six bedrooms N/A Pearl, South Sea Pearl and with en-suite bathrooms, a Tahitian Pearl. utility room, wet and dry . Comes with 7 bedrooms with en- kitchens, solar heater system suite bathrooms with an extra and high ceiling for room that can be used as a spaciousness and better cross children’s playroom or library. ventilation. . Each unit comes with an alarm system, a solar heater system and 50ft wide landscape meandering road.

. Covered porch that can accommodate 4 cars. . Features perimeter fencing, a guard house, CCTV surveillance and 24-hour security patrol. Density 3.8 units per acre 4.8 units per acre N/A Notes . The first phase of Taman Tanming Mutiara series was sold out within 18 months of its launch in September 2007 : Phase 2 was launched in November 2008. The project was completed in September last year. The homes were launched at RM638,000 but their prices have now gone up to RM1.2 million. . Taman Tanming Mutiara is located close to amenities which include a Jusco shopping mall, shops, schools, including an upcoming Chinese school, University Tunku Abdul Rahman, the Sg. Long Golf Course and Club as a medical centre. . Tanming has some 120 acres in Bandar Sungai Long, which will all be fully developed with the completion of Mutiara 2, Mutiara 3 and Tanming Indah. . Bandar Sungai Long has been seing price increases of about 20@ to 30% in the past one year. One of the reasons for the price hike is that Bandar Sungai Long is located in Cheras, a mature township with key public amenities. Furthermore, the proposed MRT line is also expected to have a station in Cheras which is positive for residents and real estate in Cheras.

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. Other than projects in Bandar Sungai Long, Tanming has several developments in the pipeline in Puchong, and Ampang. Area Description . It has already developed a total of 851 factories, terraced and superlink houses. . Tanming Berhad will be developing another 35 acres of land in Taman Meranti Jaya, Puchong, putting Taman Meranti Jaya, up 46 units of 3-storey shops, 90 superlink houses and 29 bungalows with a combine GDV of RM205 Puchong milion. . The superlink houses have already been launched. . Tanming is also building the Putra Industrial Park with GDV RM400 million on a 360 acres site of Putra Industrial Park, which the developer owns half. The industrial park will take up 100 acres. Puchong . There are about 59 units of detached factories with a land size of 1 to 2 acres each will be launched in 2Q 2011. . The 56.5 acres development with GDV of about RM285 million will consist of 189 bungalows and is Kajang Hill expected to be launched in 2013. . The smallest bungalow in the project will be 60ft by 85ft (5,100 sq ft).

Kajang Country . Tanming Berhad also owns a 10.2-acre land in Kajang (GDV: RM100) which will be RESIDENTIAL PROPERTY Heights developed into 23 units of bungalows. The project will be launched in 2013. . In the Sering Ukay neighborhood in Ampang, Tanming has about 10 acres which will be built with 32 Sering Ukay, Ampang bungalows. . The project to be launched in 2013, with a GDV of RM150 million. . Besides Klang Valley area, Tanming also has land in and Johor which it is considering turning into tourism spots. . The development will be located on a 243 acres tract in Sabah, which is a joint venture with Majlis Others Agama Sabah. . While in Johor, tourist attractions are also planned on a 200-acre land in Johor. Tanming Berhad is looking for a joint-venture partner for the Johor land.

13. Prices of terrace houses keep on rising (The Edge, 17-Apr-2011)

. Prices of 2-storey terraced homes in established neighborhoods in the Klang Valley are on upward trend on the secondary market. . Kim Realty’s principal, Vincent Ng believes buyers are willing to fork out huge sums for homes in matured neighbourhoods such as SS2, , and Taman Tun Dr Ismail (TTDI) as they are genuine investors looking to upgrade. . Hot spots for landed terraced homes in are Section 17, , SS2 and while Taman Tun Dr Ismail is at the top of the list for Kuala Lumpur. . New hot spot will emerge along the planned mass rapid transit (MRT) system as easy transport will attract investor.

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Area Description . Damansara Kim is becoming popular with buyers because of its attractive business and commercial centre while most of the homes there are occupied by families. Damansara Kim . The prices of properties within the area have gone up by 30% since the end of 2009. An intermediate unit was selling for RM450,000 in 2009 but in 2011 the price has gone up to RM730,000. . Mutiara Damansara residential properties are constantly on radar screen of homebuyers as these are Mutiara quite new and freehold. There are also conveniently located near to shopping malls such as Tesco Damansara Hypermarket, IPC shopping centre, e@Curve and The Curve. . Value estimated has gone up by 20% to 30% in the past few years. . The SS2 area in Petaling Jaya continues to be popular because of its proximity to commercial centers SS2 and schools. . Terrace houses in SS2 were going for RM680,000 in late 2009 was standing at 730,000 by January 2010. . A value appreciation of a semi-detached house in Damansara Jaya was worth less RM2.0 million in early Damansara Jaya 2010 but now it is going for RM2.3 million

14. BRDB sets benchmark (The Star, 16-Apr-2011) . Bandar Raya Development Bhd (BRDB) will unveil its condominium development in Dutamas, Kuala Lumpur

RESIDENTI near the Jalan Duta area. . The company is set to create a new benchmark in that location in terms of design, quality and pricing as the new project will not have the Dutamas pricing. . Properties in Dutamas area is about half of Mont’ Kiara properties on a per sq ft basis which is currently ranging from RM300 - RM350 per sq ft while adjacent Mont’ Kiara-Solaris is about RM550 per sq ft

according to realtor. Newer projects there cost about RM600 - RM630 per sq ft. AL PROPERTY . Yet to be named, the North Kiara Phase 1 development will have a gross development value of RM400 million with 298 units. . The project will have 2 phases with a total of 698 units with average built-up of 1,400 sq ft. . Show units will be built in Menerung, Bangsar where it first offered for sale One Menerung. The development will be put on sale of mid 2011. . BRDB second high-end project is in Taman Duta, Kuala Lumpur. Still in it’s planning and design stage, this low-rise condominium project on about 12 acres of sheer greenery and forestry will be unveiled next year.

. BRDB is now focusing in CapSquare. The first is CapSquare Residences and the second residential development is 6CapSquare with a GDV of Rm241 million. Prices for 6 CapSquare start from RM950 sq ft and the sizes range from 1,000 sq ft to 4,400 sq ft. . Beyond Kuala Lumpur, BRDB also has a presence in Johor Bahru, where it has started selling The Straits Views Residences. A landed, gated and guarded development in the south-east sector of Bandar Baru Permas Jaya, Johor Baru, it has a GDV of RM230 million. The project involves a 35-acre freehold strata land parcel within Permas Jaya. It is BRDB’s first strata-titled project in Johor Baru. The semi-detached units are priced from RM1.3 million whilst the bungalows start at Rm2.4 million.

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15. UMLand launches Legundi Residensi (The Edge Property, 13-Apr-2011)

An Artist’s impression of the Legundi Residency

PROJECT NAME Legundi Residensi Location , Kajang Developer Bangi Heights Development Sdn. Bhd. (subsidiary of United Malayan Land Bhd (UMLand)) Type 2-storey cluster houses

RESIDENTIAL PROPERTY 2-storey semi-detached 2-storey bungalows GDV RM40 million No. of unit 2-storey cluster houses: 52 2-semi-detached: 12 2-storey bungalows: 1 Total : 65 Land area 2-storey cluster houses: 2,275 - 2,625 sq ft (35’x65’ to 35’x75’) 2-storey semi-detached:3,000 sq ft (40’ x 75’) 2-storey bungalows: 6,167 sq ft Developer selling price 2-storey cluster houses: from RM543,000 2-storey semi-detached:from RM687,000 2-storey bungalows: RM1.2 million Launching date 16 April 2011 Notes . Bandar Seri putra is an integrated township spread over 898 acres

of freehold land and located along KL-Seremban Highway. It is

37km from KL city, 12km from , 30km from

Putrajaya, 35km from KLIA and 5km from Nilai.

. Official launch is on April 16, 2011. The target markets are those with household income above RM700, investors looking for second homes and those who are planning to upgrade to bigger homes.

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16. Sime Darby’s Delmara 85% sold in two days (The Edge Property, 8-Apr-2011)

An Artist’s impression of the Delmara

PROJECT NAME Delmara Location Bandar , Klang Developer Sime Darby Property Sdn Bhd Type 2½-storey No. of unit 54 Built-up area 3,004 - 3,562 sq ft (vary in six types)

RESIDENTIAL PROPERTY Developer selling price From RM690,000 Sales performance 85% (within 2 days since launched) Launching date April 2011 Features Featuring: . Lakeside views . Rainwater harvesting system (extended the feature to include usage in the bathroom for flushing purposes) . All bedrooms on the 1st floor come with en-suite bathrooms . Sun-shading elements to reduce glare and temperature for all the units facing the lake. . Modern architectural design. Notes . Delmara is Bandar Bukit Raja’s 13th phase since its launch in 2002. Almost all the phases have been fully taken up. Since August 2010, Bandar Bukit Raja has seen 5 new residential phases being added to its 1,638 acres development, of which 289 acres comprises residential

properties. . A projected population of 30,000 is expected in the entire township once it is fully completed in 2023.

17. Madge Mansion at your service (The Edge Property, 8-Apr-2011) PROJECT NAME Madge Mansions Location Jalan U-Thant in Ampang Developer Gamuda Land Sdn Bhd Type Low-rise luxury condominium GDV RM320 million Tenure Freehold Level/Block 10-storey /3-blocks No. of unit 52 (Cabana Type: 4; Duplex penthouse: 6; Standard units: 42 Land area 2.16 acres ( 24 units / acre) Built-up area Standard: 3,950 - 4,607 sq ft Cabana Type: 3,498 - 4,919 sq ft Duplex Penthouses: 7,287- 8,396 sq ft An Artist’s impression of the Madge Mansions

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Developer selling price RM4.96 - RM11.33 million (Average 1,320 per sq ft) Launching date April 2011 Notes . Each unit is fully furnished by interior architects Goeffrey Thomas & Associates and features designer fittings. . Buyers can choose from a menu of selected furniture and furnishing.

18. High-rise residential project designed to cater for the fine things in life (The Star, 8-Apr-2011) The revival of Land & General (The Star, 8-Apr-2011) PROJECT NAME The Elements @Ampang Location Off Jalan Ampang, Kuala Lumpur Developer Joint venture development between Land & General Berhad and Mayland Group. Type Serviced apartment Tenure Freehold Development land area 1.05 hectares (about 2.595 acres) Level/Block 42-storey / 2 blocks service apartment Built-up area 640 - 1,570 sq ft (vary in 8 types)

RESIDENTIAL PROPERTY Developer selling price RM700 - RM900 per sq ft depending on the view and unit floor The Elements @ Ampang Maintenance charge RM0.35 (inclusive of sinking fund) Features  8 different layouts to choose ranging from a one bedroom and bathroom studio to three bedrooms, one study room and three bathroom configuration.  Equipped with kitchen cabinets inclusive of hob, hood and built-in oven, air-conditioning units, hot and cold water system, fully fitted bathrooms and wardrobes for the master bedroom.  Each unit has one car park whilst those above 1,000 sq ft are given two car parks. Facilities . Indoor and floating gymnasium at its facilities level on sixth floor as well as visitors lounge, children’s playground, wading pool, infinity pool, fully equipped kitchenette for formal dining hall, an open bar/café for events and launderette. . Roof top garden for leisure dotted with pavilions, water sprout play area, cabana and alcoves. Notes . The Elements @Ampang is accessible via Jalan Ampang, Middle Ring Road 2, Ampang-Kuala

Lumpur Elevated Highway (AKLEH) and Duta-Ulu Kelang Expressway (DUKE) while SMART Tunnel and Maju Expressway are nearby. . Two existing LRT line stations, Dato Keramat and Jelatek are also within driving distance.

19. Dijaya ventures into hospitality ( Business Times, 7-Apr-2011) PROJECT NAME W Residences Location Jalan Ampang Kuala Lumpur Developer Dijaya Corp Bhd Type Residential-cum-hotel block GDV RM650 million No. of units 350 Level 27-storey Built-up area 700 - 1,600 sq ft Developer selling price RM1,600 - RM1,800 per sq ft Launching date 2012 Completion date 2016

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Notes . The proposed development is a RM750 million 50-storey hotel-cum residential block on a plot of land, where the historical Bok House used to sit. . Dijaya signed a collaboration agreement with hotel and leisure group Starwood Hotels & Resorts Worldwide Inc. to develop the hotel portion, which will be called W Hotel. . The W Hotel will have 150 rooms and will take up the first 10 floors of the building. It will carry a 6-star rating category. . The development will start by end 2011 and complete in 2016. . The residences (350 units) which will be occupying 27 floors per block will be launched next year with estimated GDV of RM650 million.

20. OSK Property’s ‘fortress’ in (The Edge Property, 3-Apr-2011) PROJECT NAME Mirage by the Lake Location Perdana Lakeview West, Cyberjaya Developer OSK Property Holdings Bhd

Type Condominium, 3-storey Garden villas, 2- RESIDENTIAL PROPERTY storey link villas and 3-storey lake villas GDV RM350 million No. of units Condominium : 413 2-storey link villas : 39 3-storey garden villas : 68 3-storey lake villas : 26 Level Condominium : not exceeding 10-storey Tenure Freehold Built-up area Condominium : 1,102 - 2,022 sq ft 2-storey link villas : 2,700 - 3,200 sq ft 3-storey garden villas : 3,400 - 3,800 sq ft 3-storey lake villas : 3,760 - 3,916 sq ft Land area 3-storey lake villas : 2,357 - 2,691 sq ft

Developer selling price Condominium : From RM582,000 2-storey link villas : From RM900,000 3-storey garden villas : RM2.3 million 3-storey lake villas : RM2.0 million Launching date April 2011 An Artist’s impression of the Mirage by the Lake Completion date 2014 (50% earthwork completion as in April 2011) Facilities Squash and tennis courts, badminton and ping pong, gymnasium (the gymnasium will be located on the highest level flanked by sky garden), sauna, steam rooms and convenience stores. Notes . Mirage sits on the highest plot of land and the residents will have panoramic views of Putrajaya and Kuala Lumpur. . Mirage by the Lake will be built in two phases. The first phase has a saltwater pool with numerous health and pool maintenance benefits. The second phase will have a normal wading pool. A sloping catwalk that links one of the condominium blocks in the 1st phase with the lake villas in the second phase rises above the common thoroughfares to be away from the pedestrian on the ground. . Mirage by the Lake’s green component will come from 3.5 acres of landscaping and creepers growing around the walls of the development and other structure, a high green wall as well

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as a rain water harvesting system. . An Imposing 3-storey guard house at its only entry and exit point. Resident’s access tag will be automatically scanned 10 to 15 feet from the guard house. Infrared CCTV cameras that capture better quality images at night will be installed around the perimeter.

21. SP Setia aims for RM300 million in sales from Duta Villa Project this year (The Star, 2-Apr-2011) PROJECT NAME Duta Villa Location Bandar , Developer SP Setia Berhad Type 3-storey villas & 3½-storey villas GDV RM3.0 billion No. of units 300 Tenure Freehold Built-up area From 4,515 sq ft Developer selling price 3-storey villas: From RM1.62 million 3½-storey villas: From RM1.95 million

RESIDENTIAL PROPERTY Launching date April 2011 (1st phase comprising of 123 units) Completion date June 2013 An Artist’s impression of the Duta Villa Marketing strategy 5/95 home loan package with a considerably low interest rate. Notes . The project is located at one of the highest spots in the 1,600 hectare Setia Alam and Setia Eco Park site in Shah Alam and allows residents to enjoy a 360 degree view from the club house. . It is a gated and guarded strata landed development which combines elegant architecture, with a large built-up area. . SP Setia plans to launch cluster homes by May, small office home office (SoHo) by August as well as medium low and medium cost apartments by October 2011.

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RESIDENTIAL PROPERTY IN SOUTHERN/EASTHERN PENINSULAR

22. Plenty of land for affordable housing (The Star, 6-April-2011) . Johor still has large tracts of lands in suburban areas of Johor Bahru City for My First Home Scheme’s residential property development and this will enable developers to build residential properties with decent built-up areas to cater for first-time house buyers. . My First Home Scheme allows buyers earning less than RM3,000 monthly income to secure 100% financing from banks to buy houses costing between RM110,000 and RM220,000 to be repaid over 30 years. . For Seri Alam Properties Sdn Bhd, the company had allocated Phase 4A of Bandar Seri Alam to be developed with 1,280 units of 4-storey walk-up apartments, each of the 1,000 sq ft priced at RM130,000. 1,112 units have been sold. . The company would also be launching 78 new 4-storey walk-up apartment units in September 2011 with similar built up area but selling at RM140,000 each. The higher pricing is due to escalating costs of building material and labour. . In addition, Seri Alam would be launching its 7-storey apartment blocks in the 1Q of 2012. Each units has a

built-up area of 1,100 sq ft and the indicative selling price is of RM180,000. RESIDENTIAL PROPERTY . To date, 60% of the 1,348ha Bandar Seri Alam has been developed with 10,000 residential and commercial properties. Launched in 1992, the township now has 50,000 residents. Apart from the district of Johor Bahru, areas such as Gelang Patah, Kulai, Pasir Gudang, Senai and Ulu Tiram are also suitable for the My First Home Scheme as demand for houses within that range was strong.

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COMMERCIAL PROPERTY IN KLANG VALLEY

23. Guocoland sells 40% of Commerce One before launch (The Edge Property, 29-Apr-2011) PROJECT NAME Commerce One Location Jalan Klang Lama, Kuala Lumpur Developer Guocoland (Malaysia) Bhd Type Office suites Level/Block 21-storey / 1 block No. of unit 222 Built-up area 500 - 1,700 sq ft Developer selling price From RM430 per sq ft Launching date 5 May 2011 Sales performance 40% ahead of its launch An Artist’s impression of the Commerce One Features . Units with built-up areas from 1,138 sq ft facing Jalan Klang Lama (Batu Lima or Fifth Mile) come with en-suite toilets and pantries.

. The building will have fiber optic broadband connectivity as well as retail and F&B floor. COMMERCIAL PROPERTY . Security access card and close circuit TV’s will be part of the total security system, besides the round-the-clock security patrol. Notes . Commerce One is located near the Pearl International Hotel, and is 3km away from Mid Valley City. . It is accessible via a network of highways including the New Pantai Expressway, Kl-Putrajaya Highway, Shah Alam Expressway (KESAS) and Federal Highway. . Average investment return of about 6% is expected due to prime office location.

24. Star Avenue @ D’Sara shop offices sold out during official launch (The Edge Property, 26-Apr-2011) PROJECT NAME Star Avenue@ D’Sara Location Junction of Jalan Sungai Buloh (Guthrie Corridor) Developer Mah Sing Group Bhd Type 3-storey shop office

GDV RM242.5 million No. of unit 92 Development land area 17.82 acres Tenure Leasehold Land area 1,800 - 2,250 sq ft Built-up area From 5,400 sq ft Developer selling price From RM2.2 million Launching date April 2011 An Artist’s impression of the Start Avenue @ D’Sara Sales performance 100% Features . The shop offices also have high floor-to-floor heights of 22ft for the ground, which is suitable as a mezzanine floor. . The development also features 10ft wide corridors and walkways while sporting a modern design with a contemporary lifestyle concept with more than 1,500 parking bays will be provided. Notes . Star Avenue@ D’Sara is expected to be a shopping hotspot with an estimated catchment of 360,000 people within a 15-miniute drive. . The project also aims to tap on the 13,000 students at the proposed new Help University

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College-Subang 2 Campus. . It is also located close to the 3,300 acres Rubber Research Institute of Malaysia (RRIM) privatization land to be developed by EPF. . In view of the overwhelming response, Mah Sing is opening 46 units of the Avenue Street Mall retail lots, part of Star Avenue @ D’Sara development for registration. . The Avenue Street Mall will offer 370,000 sq ft of net lettable area spread over four levels. The developer intends to keep approximately 60% of the space to ensure right tenancy mix to maximize the rental yield and increase capital appreciation. . The proposed tenancy mix includes F&B outlets, a supermarket, IT and Tele-communications centre, bowling alley, fashion and accessories stores. units of the Avenue Street Mall retail lots, which is part of the Star Avenue @ D’Sara development for registration. .

25. Shop office sale in Cahaya Alam, Shah Alam (Bursa Malaysia, 26-Apr-2011) Location No. M053, Magnolia-Parcel M, Block B, Cahaya Alam. Vendor Must Ehsan Development Sdn. Bhd. (subsidiary of Encorp Bhd.)

Purchaser Datuk Ramli Shamsudin (a Non-Independent Non-Executive Director

COMMERCIAL PROPERTY of Encorp)

Title details Held under Pajakan Negeri No. 81929, Lot 4064, Section 7 Land tenure Leasehold 99 years (expiring on 28 March 2104) Mukim/ District Town of Shah Alam, District of Petaling, State of Selangor. Description . The subject property is a 3-storey shop office. . Magnolia is a commercial development in Cahaya Alam township in Shah Alam. . There is a total of 62 units of 2-storey shop offices and 8 units of 3- storey shop offices located on 7.7 acres of land. The completion of the Magnolia shop offices is scheduled for October 2012.

. The percentage of completion of the subject property is 5%. Built-up area 5,675 sq ft Price RM1,552,650 (after taking into consideration of 7% discount for Bumiputera purchaser) Date of SPA 26 April 2011

26. Work on Mid Valley City Phase 3 to begin (The Edge Property, 21-Apr-2011) . IGB Bhd will commence the building of Mid Valley City’s third phase in the next few months, while two other development projects are also set to take off. . Mid Valley City Phase 3 is the last parcel of land to be developed and it was planned as a commercial development with an office and a retail building with an estimated gross built-up area more than one million sq ft. . IGB Bhd has 129 acres (52.2ha) of prime landbank and the development of 85 units of double- storey houses in Rawang. . IGB Bhd has also planned to board 2 other projects: G Residence and a 166-unit condominium development in Jalan Tun Razak, with a combined gross development value (GDV) of RM426 million. The following tabulates the IGB Bhd’s planned projects:-

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Area Description . G Residence is a mixed development located in Jalan Kampung Pandan overlooking Lingkungan U Jalan Kampung Thant. Pandan . Comprising two 23-towers with 475 service apartments and a retail podium with F&B outlets. . This development is scheduled to be launched by 3Q 2011. . The other planned development is a 166-unit condominium in Jalan Tun Razak which is awaiting Jalan Tun Razak approvals from authorities.

27. Hotwer has big plan for Klang (The Edge, 10-Apr-2011)

PROJECT NAME The Boss Serviced Suites Location Klang, Selangor Developer Hotwer Development Sdn Bhd Type Serviced Suites GDV RM118 million Level/Block Service suites: 28-storey

COMMERCIAL PROPERTY Retail lots: 4-storey No. of unit Service suites: 377 Retail lots: 40 lots on ground and first floors Development land area 2.15 acres Tenure Freeho;d Built-up area Service suites: 356 - 480 sq ft Retail lots: 167 - 2,449 sq ft Developer selling price Service suites: RM195,000 to RM307,800 Retail lots: RM200,000 to RM2.93 million Nett guarantee return Service suites: 6.5% An Artist’s impression of The Boss Retail lots: 7.5% (0.5% to be paid to Hotwer for Serviced Suites maintenance) (The guaranteed return is valid for 18 years with adjustment every 3 years)

Special features . The serviced suites which are designed like hotel rooms, are fully furnished bedrooms with an attached bathroom. Facilities . Facilities includes an outdoor decks and a spa on the 4th floor, function room on the 3rd floor and a pool on the roof, covered by the building shell. Notes . The building reflects it owns name as it’s height of 132m will make it the tallest building in Klang while its façade, a curved rectangular shell with circles of various sizes arranged like bubbles, is designed to stand out. . The company also plans to add blue, red and green LED lights to the façade of the buildings. . For each purchase, the owner of a suite is entitle to a free night’s stay per year at the service suites. . As the service suites are run like a hotel, the units are actually sold under sale and leaseback scheme. . The suites will have individual strata titles and Hotwer will have the first option to purchase units from owners.

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28. Developer launches second phase of property (The Star, 8-Apr-2011)

PROJECT NAME Alam Avenue 2 Location Section 16, Shah Alam Developer IRDK Land Sdn Bhd Type 3-storey shop office 4-storey shop office 5-storey shop office Tenure Freehold Developer selling price 4-storey shop office : RM1.4 - RM 2.0 million 4-storey shop office : RM2.0 - RM2.3 million 5-storey shop office : RM3.0 - RM5.0 million Features 5 meters walkways for alfresco concept, multi-storey car park, a column-free design and unique penthouse floor for all corner units with void and loft concepts. Notes . Alam Avenue 2 is the continuation of the first phase (Alam Avenue 1) and the buildings have similar look and feel, both in quality and concept. . The project is convenient for neighborhood in the area, as it is located at major expressways with commuter train service. COMMERCIAL PROPERTY . IRDK is also improving the infrastructure in the area which includes upgrading of roads, drainage and traffic system.

29. Better occupancy rates for KL prime offices in 1Q 2011 (The Edge Property, 7-Apr-2011) . According to Brian Koh, Director of Consulting and Research, DTZ Nawawi Tie Leung Property Consultant Sdn bhd:- o Prime office buildings in Kuala Lumpur recorded better occupancy rates but the office market is expected to remain soft in general due to substantial pipeline supply.

Office Market KL Property Times Q1 2011 Report . Overall occupancy rate of office buildings in Kuala Lumpur increased slightly from 86.4% in 4Q 2010 to Occupancy rate 86.9% 1Q 2011 due to good take-ups at prime office buildings. Average rental . Average prime office monthly rents remained stable with minimal upward change at RM6.12 per sq ft in rates 1Q 2011. . A new prime office building, Hampshire Place added 240,000 sq ft to the existing stock in 1Q 2011 while Office supply from 2011 to 2014 another 13.2 million sq ft of new office space is expected to be available in the market, hence the office sector is expected to be soft in favor of tenants. . Response to strata-titled office launches in 1Q 2011 was strong including the Q Sentral building at KL Sales Sentral which was soft launched at an indicative price of RM1,400 per sq ft. It is also noted strong preview sales at SP Setia’s KL Eco City.

o Retail: it is expected to see mixed performance due to rising inflation despite strong consumer sentiments. The research house said 2010 has seen a sales growth of 8.4%, while the occupancy of prime shopping centers remains high at an average 87% in 1Q 2011 with stable rental rates. o Residential: buying sentiment remain optimistic but with caution setting in due to affordability. The prime condominium market would remain active with new launches planned for the remainder of the year. The average price of high-end condominiums in KL was stable at RM603 per sq ft in 1Q 2011, while average rents declined marginally to RM3.55 per sq ft from 3.58 per sq ft in the previous quarter.

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30. SunREIT to give Putra Place a facelift (The Star, 8-Apr-2011) . Sunway Real Estate Investment Trust’s (SunREIT) acquisition of Putra Palce in Kuala Lumpur for RM519.95 million will likely lead to an overhaul of the property with analyst saying the property might not make an immediate bump in SunReit’s earnings. . Putra Place encompasses The Mall shopping complex, the Legend Hotel and an office tower. . The purchase will 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 8 levels of podium retail/shopping units. The Putra Place office tower starts from the 10th to 33rd floor, while the 25-storey Legend Hotel includes serviced apartments and penthouses. It is located on Jalan Putra opposite the Putra World Trade Centre. It is a freehold property with 193,621 sq ft space has 1,323 parking bays.

31. Mah Sing to launch Icon City next quarter (The Business Times, 4-Apr-2011)

. Mah Sing Group Bhd, the country’s fifth largest developer by revenue, will launch Icon City, a RM3 billion COMME integrated commercial development in Petaling Jaya, Selangor in the 2Q 2011. . Icon City is located on a 7.93ha site in SS8, Sungai Wey, a site formerly occupied by Matsushita Group of Co. The land is situated at the crossroads of the Lebuhraya Damansara-Puchong and the Federal Highway. . Icon City comprises 7 to 8-storey lifestyle shop-offices, gourmet street with 20 two-storey food outlets, small office versatile-offices (Sovo), serviced apartments, lifestyle mall, boutique hotel and office towers. RCIAL PROPERTY . The shops are on en-bloc sales and have received an overwhelming response from potential buyers. . For the serviced apartment and Sovo, Mah Sing is looking at both strata and end-bloc. The 5 to 7 years development will comply to the Green Building Index, Green Mark and LEED standard. . The development will feature unique architectural designs, such as forest and water themed plazas, sky glass bottomed pool roff garden and moulded landscapes.

32. Suria KLCC ready for expansion (The Star, 2-Apr-2011)

. Malaysia’s iconic retail destination, Suria KLCC, looks set for a higher profile with an expansion under way and the unveiling of new specialty stores at the shopping mall. . The six-level Suria KLCC, which anchors the base of Petronas Twin Towers, the world’s tallest twin towers, will see an addition of 140,000 sq ft of net lettable area to the 1,000,000 sq ft shopping mall. . The new retail component will be a seamless integration to Suria KLCC at the Ramlee mall end on the south side of Suria KLCC. . It is targeted for completion by June 2011 and will feature more than 30 specialty outlets including high-end specialty stores such as Flagship Cartier and Chanel stores, a new Giorgio Armani store and South-east Asia’a Fist Armani Caf. . One of the main highlights include the remarkable interior architecture only available in Milan, Paris or New York. The additional parking space will be linked to the current existing parking structure. . Among the anchor tenants are Isetan, Parkson Grand, TGV Cinemas and Marks & Spencer. . Some of the stores which are unique to Suria KLCC are Jimmy Choo, Brioni, Chanel, Aseana, Pucci, Emporio Armani, Giorgio Armani, Paul Smith, Replay, HIR Gallery, Kinokuniya, Ed Hardly and Harly Davidson. . To ensure Suria KLCC gets the right retail partners, the shopping mall benchmarks itself against global operators.

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33. PJCC to be iconic landmark (The Edge Proeprty, 1-Apr-2011) . PJCC Development Sdn Bhd, the developer of Petaling Jaya Commercial Centre (PJCC), plans to transform its 33 acres land into an iconic architectural landmark in the city. . The mixed commercial development with a gross development value (GDV) of about RM2 billion is situated off Jalan PJS2, near . It is accessible via the New Pantai Expressway (NPE). . PJCC Development is part of MKH group, which is affiliated with Pulai Springs group. . According to Jacqueline Daniele Robert, PJCC Development Managing Director, during PJCC’s launch 3 years ago, 80 shop offices were sole at RM120,000 each. Prices of these units have increased five-fold especially when the NPE was completed 2 years ago. The second phase comprising 45 units of shop offices is currently under construction. . With the new masterplan, the third phase will mark a change to the development’s concept and design. It will comprise a 200,000 sq ft retail complex, serviced apartments, a corporate tower and hotel. This phase is expected to be launched sometime in 3Q 2011 as it is still pending for approval. . The initial plans are for a high-end retail with mainly food outlets and a supermarket, a 5-star hotel with more than 400 rooms and 80luxury apartment with built-up areas ranging between 500 and 1,500 sq ft.

. Proposed projects in the pipeline for PJCC’s other phases include a 150-room boutique hotel, a business COMMERCIAL PROPERTY park and about six corporate towers. PJCC will comprise around five phases and the developer expects to take 5 to 10 years to complete the entire project.

34. Commercial office tower sale in Ipoh, Perak (Bursa Malaysia, 1-Apr-2011) Location 17th floor,Ipoh Tower, Jalan Dato’ Seri Ahmad Said, 30450 Ipoh, Perak Darul Ridzuan Vendor Ipoh Tower Sdn Bhd Purchaser DKLS Industries Berhad (DKLS)

Title details N/A Land tenure Leasehold 999 years Mukim/ District Greentown District of Ipoh, State of Perak Description . The property comprises 8 units of vacant penthouse business

suites at Ipoh Tower, occupying approximately 9,142 sq ft on the 17th floor of Ipoh Tower, together with 7 car parking bays. . Ipoh tower is a comprehensive office building which comprises office suites, business centre, clubhouse, function hall, penthouse business suites, café and service apartments.

. The age of Ipoh Tower is 2 years Built-up area Total Lettable area: 9,142 sq ft

Price RM3,500,000 @ RM382.85 per sq ft Date of SPA 1/4/2011

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COMMERCIAL PROPERTY IN SOUTHERN/EASTHERN PENINSULAR

35. Melaka’s new RM2b landmark (The Edge Property, 29-Apr-2011)

PROJECT NAME Hatten CIty Location 2km from Dataran Pahlawan Melaka Megamall, Melaka Developer Hatten Group Sdn Bhd Type Phase 1: Retail units, residential units and two hotel towers Phase 2: condominium, seafront villas, high-end street mall, office suites, a corporate tower and a resort GDV RM2 billion Level/Block Phase 1 Phase 2 Elements (retail lots) : 4-storey Condominium: 3 blocks Silverscape (serviced apartment) : 45-storey/2 blocks Office suites: 6-level Hotel: 2 blocks Corporate tower: 33-storey No. of unit Elements (retail lots) : 800 Condominium: 1,300

Silverscape (serviced apartment) : 700 Seafront villas: 20 COMMERCIAL PROPERTY Hatten Hotel: 710 Resort: 300 rooms Built-up area Elements (retail lots) : 120 - 2,000 sq ft A 3-acre high end street mall Silverscape (serviced apartment) : From 460 sq ft Developer selling price Elements (retail lots) : RM1200 - RM1,500 per sq ft N/A Silverscape (serviced apartment) : N/A Launching date April 2011 N/A Completion date Hatten Hotel: December 2011 Facilities Silverscape (serviced apartment) : N/A Infinity pool, a gymnasium and function halls. Notes . Phase 1 : Elements (retail lots): o The retail portion occupies some 2.4 million sq ft gross floor area and 1.5 million sq ft of net lettable space. o 40% of the retail units are planned to be sold while the remaining 60% will be kept for

recurring income. o The 710-room Hatten hotel will be the largest 4-star hotel in Melaka. . The entire Hatten city is expected to e completed by 2019. . The commercial section of phase 1 has been completed and opened for business since February 2011 while the Hatten Hotel within Hatten Square is expected to complete by end of December 2011.

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COMMERCIAL PROPERTY IN PENANG/NORTHERN PENINSULAR

36. Chuping Valley development to become economic hub in Perlis (The Edge Property, 25-Apr-2011) . According to Menteri Besar Datuk Seri Dr Md Isa Sabu, the Chuping new town development, to be called “Chuping Valley” is expected to become the economic hub of Perlis. . Chuping valley will be developed as a logistic support centre to compliment Padang Besar which has grown into a booming economic centre in the north border at the same time would change the landscape of Chuping which is mainly known for its sugar cane plantation. . Malay entrepreneurs and businessmen are encouraged to seize the opportunities available in this new development which will comprise an area of 1,000 hectares and include government institutions, resettlements, industries, business centers and theme parks.

HOTEL COMMERCIAL & HOTEL PROPERTY

37. Swiss-Garden International to open more hotels in Malaysia (The Edge Property, 28-April-2011) . Swiss-Garden International Hotels, Resorts & Inns will be opening 5 new hotels within the next 2 to3 years in Malaysia. The hotels will be in Butterworth, Penang; Cameron Highlands; Senai, Johor; Kota Kinabalu, Sabah and Kuantan, Pahang. . Meanwhile, the Swiss-Garden Residences situated behind the current Swiss-Garden Hotel along Jalan Galloway, provides high-end 4-star services suites within walking distance to Chinatown and Jalan Bukit Bintang. . Swiss-Garden Residences will help the Group expand it’s portfolio in the market segment where the demand and growth opportunities for services apartments are growing. . That was an opportunity to expand considering the rapid development in the surrounding vicinity such as the redevelopment of the Pudu Jail site. PROJECT NAME Swiss-Garden Residences Location Jalan Galloway, Kuala Lumpur Developer PJ Development Holdings Berhad Type Serviced apartment

GDV RM330 million Level/Block 33 and 37-storey / 2 blocks No. of unit 478 Development land area 1.7 acres Built-up area Standard units : 550 - 750 sq ft Penthouse : 2,700 sq ft Selling Price Launched (2008) : RM700 per sq ft Current (2011) : RM950 per sq ft Facilities F&B outlets, infinity pool, gym, sauna, children’s playground and launderette. Guarantee return 356 rooms are on lease back to be managed by the hotel with guaranteed return of 6% per year. The other 42 units are under a time-share scheme. Notes . The room choices available include a 1-bedroom duluxe, 1-

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bedroom executive, 1-bedroom premier duluxe and 2- bedroom premier apartments and penthouses. . Average room rate for the Swiss-garden Residences is between RM300-RM330 per night.

38. Hotels set to enjoys higher occupancy (Business Times, 18-Feb-2011) . Hotels in Sarawak are expected to enjoy a higher level of occupancy and room rate this year as the state elections and increase in corporate business provide a boost. . Coupled with a higher tourist arrival target of 4 million and a fairly stable number of room inventory, the hotels in Kuching hope to surpass the occupancy level, which has been rather static over the past three years. . According to Malaysian Association of Hotels Sarawak Chairman, Keith Pointer, occupancy has been on an even keel around 60% plus for the past 3 years. He hope to see rates and occupancy improve by a tenth in 2011 and 2012. . There are 221 hotels with a total room inventory of 12,700 rooms in Sarawak. Of these, 191 hotels have star ratings. . The average room rate of the 4 and 5-star hotels is at over RM200 while the rate for smaller hotels is around RM110 per night.

. The additional rooms that could come in over the next 12 months, will be no more than 450 and mostly in HOTEL Miri.

39. Dijaya ventures into hospitality (Business Times, 7-April 2011) W Hotel makes its mark in KL (The Edge Property, 8-April-2011) . Property developer Dijaya Corporation Berhad has partnered hotel and leisure company, Starwood Hotels & Resort Worldwide Inc to develop W Hotel. The brand has 41 hotels worldwide. . The 150 rooms will be located within the Golden Triangle in Jalan Ampang, offering guests a unique dining experience, entertainment and signature spas. . Among the facilities are fitness centre, food and beverage outlets, a full service spa and a nail bar. . The hotel will feature 1,200 sq m of meeting space, one ballroom and 5 meeting and function rooms. All guest rooms will be fitted with the signature W bed. . Tourism industry is in fifth ranking in terms of contribution towards the Malaysia’s economy. The sector is growing with improved occupancy last year to 66.9% which is a 4.2% increase compared with 2009. . According to Tourism Minister Datuk Seri Dr Ng Yen Yen, there will be shortage of 40,000 rooms in 2020 to cater to the estimated 36 million tourist arrivals.

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INDUSTRIAL

40. Factory sale in Selayang (Bursa Malaysia, 26-Apr-2011) Location Town of Selayang, District of Gombak, State of Selangor. Vendor Seacera Porcelain sdn. Bhd. (subsidiary of Seacera Tiles Berhad)

Purchaser Suong Sdn. Bhd. Title details Geran 41063, Lot No. 46915, Geran 41064, Lot No. 46917, Geran

41065, Lot No. 46918, Geran 41076, Lot No. 46916

Land tenure Freehold

Mukim/ District Town of Selayang, District of Gombak, State of Selangor.

Description The property is a piece of freehold land with a factory building at the age of approximately 21 years old. The property is subject to legal charges and a position of the Property held under Geran 41063 is subject to the following registered lease i) 30 year lease in favour of Tenaga Nasional Berhad commencing from 15 November 1986 and expiring on 14 November:

2016. INDUSTRIAL ii) 30 year lease in favour of the Company commencing from 9 July 1994 and expiring on 8 July 2024. Land area 635,641.20 sq ft @ 59,053 sqm Built-up N/A Price 62,000,000 Date of SPA 26 April 2011

41. Factory sale in Petaling Jaya (Bursa Malaysia, 5-Apr-2011) Location No. 5, Lorong Tangdang B, Section 51, 46050 Petaling Jaya, Selangor Darul Ehsan. Vendor Ramanathan A/L Kuppusamy, Sivachandran A/L Ramanathan and Mariami A/P Daniel.

Purchaser Unimech Engineering (M) Sdn. Bhd. (subsidiary of Unimech Group Berhad)

Title details Held under H.S.(D) 262436, P.T. No. 15 Land tenure Leasehold Mukim/ District Town of Petaling Jaya, District of Petaling, State of Selangor. Description The property is a piece of leasehold land together with a two and half (2⅟2) warehouse office.

Land area 11,937.18 sq ft @ 1,109 sqm

Built-up N/A

Price RM4,600,000

Date of SPA 5 April 2011

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42. Factory sale in Kuala Lumpur (Bursa Malaysia, 14-April-2011) Location No. 48, Persiaran Segambut Tengah, Segambut, 51200 Kuala Lumpur. Vendor Jemco Sdn. Bhd. Purchaser Mintye Industries Berhad

Title details Held under PN 2, Lot 16445, PN 3, Lot 16446 and PN 4, Lot 16447 Land tenure Leasehold (expiring on 16 June 2067) Mukim/ District Mukim of Batu, District of Kuala Lumpur, State of Wilayah Persekutuan Description The property consists of a double-storey office building and a single- storey warehouse. The age of the building is about 25 years old. The single-storey warehouse is used as storage for automotive and tractor parts. The basis arrive at the expected monthly rate of RM40,000/- for the

Property is as follow :-

i) For office building - per month at RM2 per sq ft x 10,000 sq ft

= RM20,000/-

ii) For warehouse - per month at RM1 per sq ft x 20,000 sq ft INDUSTRIAL = RM20,0000/- Land area Lot 16445 : 13,016.57 sq ft Lot 16446 : 12,831.58 sq ft Lot 16447 : 12,647.58 sq ft Total : 38,495.73 sq ft Built-up Double-storey office: 10,000 sq ft

Single-storey warehouse : 20,000 sq ft Price RM9,500,000

Date of SPA 14 April 2011

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INFRASTRUCTURE & AMENITIES

43. Another 500km of roads in Sarawak by end 2012 (The Edge Property, 26-Apr-2011) . According Datuk Seri Michael Manyin, State Infrastructure Development and Communication Minister, Sarawak will build another 500 kilometers of new roads in the state by the end of next year. . Under the National Key Result Area (NKRA) for a three-year period beginning last year, Sarawak was allocated RM2 billion to build roads. . Datuk Seri Michael Manyin mentioned that they have tendered out 91 projects and managed to complete 240 kilometres of new roads in 2010. . RM3.6 billion had been allocated to the ministry to build more link roads in the state beginning in year 2010. . Public Works Department (PWD) had tendered out projects worth RM4.7 billion to build access roads within the Sarawak Corridor of Renewable Energy (SCORE) in the central region of Sarawak. . It is very expensive to build roads in Sarawak due to the difficult terrain and peat soil in many places, hence

constructing every kilometer of the access roads would cost about RM10 million. INFRASTRUCTURE & AMENITIES

44. MCN proposes RM 1.2b rail network (The Star, 16-Apr-2011) . Iskandar Regional Development Authority (IRDA) has received a proposal by Metropolitan Commuter Network Sdn Bhd (MCN) to develop a RM1.23bil intra-city commuter train (ICCT) service for Iskandar Malaysia. . MCN is a joint-venture company between KUB Malaysia Bhd and Malaysia Steel Works (KL) Sdn Bhd. . The company had proposed to develop the rail network covering 100 kilometres to serve all the major suburbs in the economic growth corridor. The project will have an annual ridership of over 30 million people once operational. . Seven new stations will be built along the route together with 16 halts and the rail network will also include a shuttle service from JB Sentral to Woodlands, Singapore. . Among the areas covered by the service include Nusajaya with major developments such as Legoland Theme Park Malaysia and EduCity, and the Malaysia Premium Outlet and Senai Hi-Tech Park in Senai- Kulai. . The commuter network to be based in Kempas Baru was expected to create an economic spill-over within the vicinity and generate employment opportunities in the tourism, property development and retail sector.

. The ICCT project was in line with the targets set by National Key Result Area under the Economic Transformation Plan and the Iskandar Malaysia transportation blueprint. . The ICCT is expected to start operation by 2013, with total deployment of 19 three-car trains.

45. Puduraya bus station to reopen April 16 (The Star, 2-Apr-2011) . According to Federal Territories and Urban Well-being Minister, Datuk Raja Nong Chik Raja Zainal Abidin, the upgraded Hentian Puduraya bus terminal is to reopen in April 16 after several postponements. . The reopening of the bus terminal in the city centre was originally scheduled for the end of 2010, but was rescheduled to February, then March and now to April. . The upgraded facilities at Hentian Puduraya would provide added comfort for the public using the bus services at that venue which was strategically located to provide integration with other modes of public transportation.

Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 27 Issues 2: 1-30 April 2011

OVERSEAS

‘ 46. HK industrial land prices highest in the world (The Edge Property, 22-Apr-2011) . Prime industrial land prices in Hong Kong continue to be the most expensive in the world at US$1,035 (RM3,105) per sq ft, representing a six-month growth of 9%, according to Colliers International’s recently released Global Industrial Highlights (2H 2010). . Sales demand is expected to continue over the next 12 months and industrial property prices in Hong Kong are projected to increase by 15% to 18%. . In terms of warehouse rents in 2H 2010, Tokyo topped the world at US$22.56 per sq ft per year as at end of 2010. This is followed by London-Heathrow, Zurich, Hong Kong and Geneva, the global top five industrial warehouse rentals. . In Hong Kong, the industrial market is supported by the robust external trade growth with the total value of re-export up 21.6% y-o-y to HK$747 billion (RM289 billion) during the period from December 2010 to February 2011, following 18.2% y-o-y in the preceding three-month period. With Japan historically being the third largest export market for Hong Kong, the negative impact of the recent earthquake and tsunami on the local external trade is expected to become apparent over the next few months. . For Asia Pacific in 2H 2010, there was healthy economic growth in the region with exporters boosting sales within the region and globally. Across most markets in the Asia Pacific, warehouse rentals were steady or in OVERSEAS upward swing. According to the report, Tokyo’s warehouse rentals were the highest at the end of 2010. . Hong Kong and Singapore were in fourth and seventh spot respectively. However, with Japan’s devastating earthquake, trade across the region will feel some effects with the demand for warehouse space in the region expected to be sluggish.

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Our philosophy is simple: A unique combination of People, Intellectual Property, Relationships, Services and Commitment 28