YNH aims for iconic price


http://biz.thestar.com.my/archives/2007/1/26/business/b_p2capitaltower.jpg


By C.S. TAN

PETALING JAYA: YNH Property Bhd officials are watching with glee the upswing in the prices of real estate investment trusts (REITs).

The price of Quill Capita Trust Bhd, for instance, is up 57% since its initial public offering earlier this month to RM1.32 yesterday. That has lowered the REIT's prospective dividend yield to just 4.5%.

A lower yield implies that investors are willing to pay a higher price for properties and REITs.

The pricing of REITs has a bearing on YNH's prospects because it is looking to sell its proposed iconic commercial property in the heart of Kuala Lumpur to a REIT.

YNH is jointly developing the proposed Capital Tower in YNH Centre, near Shangri-La Hotel, with Singapore's CapitaLand Ltd. YNH owns 60% of the project and CapitaLand the balance 40%.

A CapitaLand official said in a statement last month the project was “one of the identified candidates for injection into our Malaysian Commercial Development Fund”, which was formed in a partnership with the Malayan Banking Bhd (Maybank) group.

“Capital Tower can be sold for RM1bil to a REIT which will get a yield of 8% from the property, or RM1.5bil for a yield of 6%.

“At a price of RM2bil, the yield would be 4%,” a YNH spokesman told StarBiz recently.

These are rich figures for a project with an estimated land and construction costs of about RM700mil. The company has conservatively estimated the gross development value (GDV) at RM1bil.

The dynamics of the GDV and an 8% yield were based on a projected rental rate of RM8 per sq ft for a new prime building compared with RM7 per sq ft at nearby grade “A” office buildings with high occupancy.

YNH and CapitaLand would negotiate to sell Capital Tower to the highest bidder.

The CapitaLand/Maybank fund would have first preference as a buyer but it must offer the highest price.

The proposed commercial property is in a prime location where there are few sellers.

In its immediate vicinity, it is believed the owners of Menara Haw Par and Menara IMC are not sellers.

“But for us, everything is for sale. We're developers,” the YNH spokesman said.

The company started as a developer in Lumut, Perak, where it continues to be the dominant player.

It has, however, moved into Kuala Lumpur where it acquired prime land. Its Lot 163 Suites serviced apartments is next to Wisma Hong Leong and its Ceriaan condominium is in Mont' Kiara.

It also secured several parcels of land behind the Renaissance Hotel Kuala Lumpur and the Mont Kiara area under joint-venture arrangements with landowners.

ugly. :ohno:

I like it, I think in once its built, it should look better than the model.

I like it too....

Wah zahir..like that also ugly? This is sure in my top 5 in Malaya!

I like it, I think in once its built, it should look better than the model.

Normally rendering/model is better than actual...

Can khun nazrey or pedang post an aerial of the site which is near shangri la? :)

ugly. :ohno:

I agree with you.

Some more, the shape is too weird... The angle of the building is too weird.
I need opinion from any engineer, is it a good design? Can stay?

Tht building would be my most unique structure building in Malaysia....

Actually....quite ugly oso...

cool shape! buildings with weird shapes but still look good are hard to come by. my concern is the façade...hopefully it is not gonna look like that

I think ugly because its abit fat ... But the curve shape can really impress people, "sophisticated" for KL and Malaysian architecture.

Doesn't the design inspired from the NYC latest iconic structure, Hearst HQ designed by foster n rakan rakan?

http://img404.imageshack.us/img404/4773/85852759vq7.jpg

An up and coming developer

By ERROL OH
TheStar BizWeek 7 April 2007

YNH Property Bhd is still often identified as a Perak-based developer. Although not wrong – the company's head office is in Sri Manjung and it has undeveloped land of about 1,000 acres in that state – that has become a narrow and somewhat misleading description.

It has transformed from a property player best known for offering affordable homes in Manjung to one that has successfully diversified into new locations and products.

In a March report on the property sector, UOB Kay Hian calls YNH “an up-and-coming mid-cap developer”.

Indeed YNH is on the radar screens of most property analysts, with the majority of them having buy calls on the stock.

For most people, the developer's ability to excite lies mainly in its high-end ventures in Kuala Lumpur, primarily through joint ventures (JVs). Over the past three years or so, it has picked up several plots of land within the city's Golden Triangle and the affluent Hartamas area.

The buying has not stopped. Last Monday, the company announced that wholly-owned Kar Sin Bhd had entered into a memorandum of understanding (MoU) to purchase a 70% stake in D'Kiara Place Sdn Bhd, which has 6 acres of land in Mont' Kiara, Kuala Lumpur.

The development order for the land covers two blocks of service apartments, an office block, and a podium comprising a retail centre and an auditorium. The estimated gross development value (GDV) is RM550mil.

The first of YNH's KL projects to get off the ground is Lot 163 Suites in (aptly enough) Jalan Perak, which features service apartments, a retail arcade and an office tower. According to a Feb 13 report by Kim Eng Research, the development's GDV has risen from RM218mil to RM280mil due to an increase in lettable office space.

In the notes to the company's fourth-quarter results for financial year ended December 2006, YNH says the project has started to contribute to the group's earnings and will continue to do so for the next two years.

Other developments in KL that will come up soon include Radiant Kiara in Mont' Kiara and commercial project in Jalan Sultan Ismail. The former, a condominium project with a GDV of about RM270mil, is expected to swell the developer's bottom-line for the next three years.

However, much of the anticipation is centred on the Jalan Sultan Ismail project, particularly after YNH has teamed up with Singapore's CapitaLand Ltd to jointly develop the land. YNH will have a 60% interest in the JV.

For this purpose, Kar Sin entered into an MoU with CapitaLand Commercial and Integrated Development Ltd last December. Originally, YNH had planned to build two blocks of service apartments and a signature office block, with a GDV of RM880mil. CapitaLand's entry, however, has enlarged the scale.

The GDV is now RM1bil. “The partners intend to develop a landmark office tower cum retail centre on this prime site.

Construction is expected to start in mid-2007 with completion anticipated by end 2011,” says the joint news release.

Last year, YNH also went into a series of JVs to develop few pieces of land along Jalan Duta.

Says the company in the notes to its fourth-quarter results, “The development is at planning stage and is expected to contribute to the group's earnings commencing year 2009.”

The Government's recent moves to boost property demand is another reason YNH has been getting a lot of attention.

Standard & Poor's, in a report last Monday, says the developer's niche projects should benefit strongly from the abolishment of the real property gains tax and the removal of the requirement for FIC (Foreign Investment Committee) approval for house purchase by foreigners.

UOB Kay Hian estimates that the KL projects’ contributions to YNH’s bottom-line will increase to 89% in 2009 from 34% in 2006. Kim Eng Research sees a similar change. It says in its Feb 13 report, “Looking ahead, property development projects in the Klang Valley are expected to generate 80% of group profit, with the 20% balance from its Perak projects.”

Despite the big-city prospects, YNH is a long way from neglecting its stronghold in Perak. In the notes to its fourth-quarter results, it says ongoing projects in the state (such as Medan Bercham, Taman Samudera, Medan Sitiawan and Manjung Point Seksyen II) will be “the major profit contributor” for 2007 and 2008.

It adds, “Furthermore, the group has launched the commercial properties in Manjung Point Seksyen II, and the project has been well accepted by the investors.”

4 years in construction?? why so long one??

capitaland...capitaland....capitaland...capitaland....wahh....makin kaya company ni...where's our locals?...bz bidding for mideast projects?:lol:

whateverlah...

btw, 4 years....why that long? are they consider 3 times 'on hold' status in the middle?

ugly. :ohno:

ya lor.I'm also disappointed with the design.what's went wrong with YTL actually? i except better from them since YTL is a great company.

not YTL lah alsen.....YNH

not YTL lah alsen.....YNH

lol....x perasan pulak :nuts:

lol....x perasan pulak :nuts:

yelah..asyik dafi, dafi and dafi aje kan :lol: :lol: mane la tak perasan

yelah..asyik dafi, dafi and dafi aje kan :lol: :lol: mane la tak perasan

aduh ! tajamnya kritikan... :D :lol:

wah,wonder how tall is this fellow goona be:D

^^

Hehe, my guess is that it should be 2xx metres tall....

^^ looks like one of new WTC's towers... yeh.. ok...

gr8..another 50 flr :banana:


YNH debuts in Mont'Kiara
By Fintan Ng
Email us your feedback at fd@bizedge.com

It seems there is no stopping YNH Property Bhd, a developer based in Manjung, Perak. It currently has two projects in downtown Kuala Lumpur, with a substantial valuable landbank in the Mont'Kiara/Sri Hartamas area.
In March, without fanfare, it launched Ceriaan Kiara, a 238-unit condominium project on one of its Mont'Kiara parcels, which saw 30% sales on the first day. At press time, sales had reached 68%, despite the fact that the developer is new to the address.
One reason for the strong take-up has to be its pricing — Ceriaan Kiara is tagged at an average of RM363 psf. Now compare this to a number of recent launches in the area such as Sunway City Bhd's Sunway Palazzio, which was put on the market at an average of RM846 psf in Singapore and Sunrise Bhd's 10 Mont'Kiara, launched last September, at an average of RM535 psf.
An obvious point is that both Sunrise and Sunway City are no strangers in Mont'Kiara. Take Sunrise, for instance: being snonymous with the Mont'Kiara enclave, it would command a premium.
The RM189 million Ceriaan Kiara sits on a 3.06-acre freehold parcel sandwiched between Garden International School and other high-end condominiums on Jalan Kiara 3. It comprises one 27-storey block and one 28-storey block, with six levels of parking in each block. The units, with built-ups of 1,828 to 4,650 sq ft, are priced from RM665,800 to RM1.99 million. The service fee is 28 sen psf.
Purchasers can choose units with lanais of 1,262 sq ft or a whopping 1,655 sq ft. There are also duplex units and duplex penthouses, with terraces on both levels. Ceriaan Kiara comes with the usual condominium facilities — clubhouse, swimming pool, wading pool, gym, sauna, multipurpose hall and nursery.
According to a source close to YNH's senior management, the decision to price Ceriaan Kiara lower was because the company is a newcomer in the upmarket Mont'Kiara area. YNH can also afford to price its units competitively because of the low land cost. The developer paid RM66 psf three years ago against the current RM300 psf, the source says.
On the competition in Mont'Kiara, the source says YNH sees it as adding value to Ceriaan Kiara and its future projects there. But do not expect any more discount; future tags will reflect the going market rate in Mont'Kiara, the source adds.

Landbank in Mont'Kiara

YNH has been actively mopping up land in the Mont'Kiara/Sri Hartamas areas the last three years. In an April research note, Aseambankers Equity Research lists more than 23 acres for YNH in the area, excluding a 2.67-acre parcel it is acquiring from Suasa Sentosa Sdn Bhd.
The landbank includes a six-acre freehold site for a mixed development called D'Kiara Place, through acquisition of D'Kiara Place Sdn Bhd from Triple-H Auto Parts Sdn Bhd in early April. This prime parcel is next to Plaza Mont'Kiara's McDonald's outlet. The RM600 million D'Kiara Place will comprise a 4-storey retail podium with a net saleable area (NSA) of 141,634 sq ft, a 2-storey auditorium, a 23-storey office tower with NSA of 174,637 sq ft and two 42-storey serviced apartment blocks. YNH expects to launch this in two to three months.
One of the blocks will have 202 serviced apartment units with built-ups from 1,141 to 1,346 sq ft, while the other will have 382 units with built-ups from 650 to 1,158 sq ft. The auditorium will have 2,500 seats, while the podium may feature a Bangsar Shopping Centre-concept retail centre.
"The company is already talking to a few retailers. It is looking for a supermarket or a departmental store for the retail podium, while talks are ongoing to sell the office tower, serviced apartment blocks and retail podium en bloc," the source says.
Then there is a RM300 million super-condo project planned for a 2.67-acre freehold parcel, with units of 3,000 sq ft and a minimum selling price of RM2 million. Kiaraville, Duta Nusantara and the ongoing Solaris Dutamas project surround this parcel. The project will be launched in the fourth quarter.

Downtown Kuala Lumpur

YNH's main revenue earner in the Klang Valley is the RM218-million Lot 163. The 29-storey serviced apartment-cum-corporate suite project with a retail component sits on a 1.04-acre freehold site on Jalan Perak near KLCC.
This project was launched two years ago, with sales totalling 90% so far, with the bulk of the revenue to be realised during the current and the next financial year. YNH's financial year ends in December.

On Jalan Sultan Ismail, next to Shangri La hotel, is the RM1 billion Capital Tower in YNH Centre which will sit atop a three-acre freehold parcel acquired from Danaharta in mid-2004 for RM63 million. The project, expected to be launched this year, is a joint venture with CapitaLand Ltd of Singapore. It comprises a 50-storey office tower with a retail component. According to the source, the joint-venture partners are negotiating with several parties, including a real estate investment trust, to sell the tower en bloc.

YNH also has a two-acre leasehold parcel off Jalan Sultan Ismail, next to the 45-storey freehold Cendana on Sultan Ismail. The project, with a gross development value (GDV) of RM200 million, will be launched in 2009.

Recently, YNH announced that its subsidiary Kar Sin Bhd had reached an agreement with Great Wall Park Sdn Bhd to purchase the latter's 0.7-acre freehold parcel located on the Federal Highway near MidValley City. The developer is planning a condominium project with a GDV of RM100 million on the site.
For sure, YNH is moving into the big-boy league of developers.

dah tukar nama jadi YNH Tower plak :D

YNH joint venture with CapitaLand called off

By ANGIE NG

PETALING JAYA: YNH Property Bhd's share price has fallen 50 sen over the past three days on reports that a proposed joint-venture agreement with Singapore's CapitaLand Ltd has lapsed, which was confirmed by the latter yesterday.

However, YNH is confident the development of Menara YNH in Jalan Sultan Ismail, Kuala Lumpur, will proceed as scheduled despite the exit of CapitaLand.


According to YNH chief financial officer Y.M. Chan, the company will launch the project this year and expects it to be completed in 2011.

The approvals from the authorities are expected in the next two to three months.

Last December, YNH's wholly-owned unit Kar Sin Bhd entered into a memorandum of understanding (MoU) with CapitaLand Commercial and Integrated Development Ltd to jointly develop the commercial project beside the Shangri-La Hotel.

YNH was to have a 60% stake in the joint venture.

In a joint statement on the deal, the two companies had said further details would follow approval from the authorities.

But, in a statement yesterday, CapitaLand said the joint development with YNH had been called off. It said the MoU to build an office tower in the Golden Triangle of Kuala Lumpur “has lapsed due to non-fulfilment of the conditions precedent”.

In an announcement to Bursa Malaysia, YNH said the deal was off and it would develop the project on its own.

It is understood the dispute was over the value of the 133,000-sq-ft land of the project.

According to Chan, a few other potential partners had shown interest in the project and that the company would consider their proposals.

“Based on our strong cash position, and with the support of financial institutions, we may decide to undertake the project on our own,” he said.

He said a number of global real estate and private equity funds had shown interest in buying the building en bloc.

“Going by the strong interest and the high expected yield of 7% per annum, we have raised the price of the building to RM1.5bil from RM1bil,” Chan said.

The office tower with a net lettable space of 1.1 million sq ft – of which 10% is retail space – will cost RM500mil and provide an expected gross margin of 38% to YNH.

To ensure top quality and premium value, Chan said a reputable contractor, preferably from Japan, would be engaged to work alongside YNH's in-house construction arm to undertake the project.

YNH shares ended yesterday 15 sen lower at RM2.80.

double post.

http://img32.picoodle.com/img/img32/9/8/14/f_002m_b14e830.jpg

They better publish a rendering of 633 Residency :bash:

YNH courting new suitors for RM1b project
By Chong Jin Hun
jinhun@nstp.com.my

September 4 2007
http://www.btimes.com.my/Current_News/BT/Tuesday/Frontpage/ynhf.xml/Article/Current_News/BT/Images/btgraph2/ynh4.jpg

FOLLOWING a failed initial attempt with a foreign partner to develop prime land in Kuala Lumpur, YNH Property Bhd is now courting other suitors to kickstart its commercial job, possibly within three months.

YNH may solicit bids from potential parties to jointly build the estimated RM1 billion YNH Tower on a 1.2ha freehold site near Shangri-La Hotel along Jalan Sultan Ismail in Kuala Lumpur.

Construction of the tower, to comprise office and retail space, is still subject to authorities' consent. Upon completion, the building will be sold en bloc, company officials said.

"We may call for a tender and it involves reputable parties from New York, Singapore and Australia," YNH chief financial officer Y.M. Chan told Busines Times yesterday.

"We plan to increase YNH Tower's selling price from RM1 billion to RM1.2 billion because of strong demand," Chan added.

He did not reveal who the likely suitors of YNH are, only indicating that the joint-venture structure may involve more than two parties.

Winners of the tender process will be selected based on the price the respective parties are willing to pay for the land under the collaboration.

According to Twins Realty principal Wincent Saw, the estimated 131,000 sq ft could be worth, on average, between RM800 and RM1,000 a sq ft, or at least RM104.8 million.

Perak's YNH and Singapore's CapitaLand Ltd in December 2006 signed a memorandum of understanding (MOU) to jointly develop the site on a 60 and 40 per cent equity basis respectively.

Construction of the building, initially valued at some RM800 million, was originally scheduled to start in the middle of 2007, and due for completion by end-2011.

The venture was, however, terminated in June 2007 as certain conditions under the MOU could not be fulfilled, YNH told Bursa Malaysia.

YNH's first half-to-June 2007 net profit rose by a quarter to RM43.3 million, or 12.06 sen a share, while revenue climbed 32 per cent to RM126.2 million.

YNH, listed on Bursa Malaysia in 2003 under its former name Yu Neh Huat Bhd, began as a plantation entity in 1982 before venturing into property development.

The group's real estate business took off in 1987 within Perak's Sitiawan, Manjung and Lumut corridor where the group's flagship "Bandar Manjung Point" township sits.

Its other jobs in Kuala Lumpur include "Lot 163 Suites" mixed high-rise project at Jalan Perak and "Cerian Kiara" or "Radiant Kiara" condominiums within the Mont'Kiara enclave.

YNH identified 10 foreign partners

by Sharmila Ganapathy
Email us your feedback at fd@bizedge.com


Kuala Lumpur: YNH Property Bhd has identified 10 potential foreign developers to be its joint-venture partner to undertake the construction of its Menara YNH in Jalan Sultan Ismail.

It is coming out with a tender this month to pick a joint-venture partner for the project.

In an interview with The Edge Financial Daily, YNH chief financial officer Y M Chan said 10 developers from New York, Singapore, Hong Kong and Australia had been identified as potential bidders to date.

“We have also received interest from the Middle East,” he said.

He added that the bidding process is expected to close in mid-October, and hoped to finalise the joint venture soon.

Chan said YNH hoped the construction on the project would begin by year-end. “We have received approval in principle from Dewan Bandaraya Kuala Lumpur and are awaiting the approval of our appeal to increase the density of the tower,” he said.

Apart from offering the highest bidder for the land price, he said the company would also consider the other company’s branding when picking the right joint venture partner.

“Strong branding will help raise the profile of our company and sell the project at a premium,” Chan said, adding that the price for the land is ranging from between RM1000 and RM2000 per square feet.

YNH had originally signed a memorandum of understanding (MoU) with Singaporean real estate developer CapitaLand Ltd last year to jointly develop the 1.2ha site on a 60:40 equity basis.

Construction of the tower was scheduled to begin in the middle of this year but the venture was terminated in June this year due to certain conditions of the MoU not being fulfilled.

On possible future tie ups with other companies, he said that YNH would consider such ventures for its other projects if there was “strong interest.”

http://img511.imageshack.us/img511/5295/menaraynhtc8.jpg (http://imageshack.us)

New design?

Hopefully it's better than expected!

jgn macam reban ayam dah la

^^ lookin forward to it! hope its a good one! :cool:

Fraser Hospitality to manage YNH project
Tuesday October 23, 2007
By DAVID TAN
TheStar


PENANG: YNH Property Bhd has engaged Fraser Hospitality Pte Ltd, a wholly-owned subsidiary of Fraser & Neave Ltd, to manage its RM300mil Lot 163 Suites project at Jalan Perak, Kuala Lumpur.

Fraser Hospitality is an international branded serviced residence management company providing consultancy and other services in relation to Gold Standard residences in key gateway cities of the world.

YNH corporate services head Daniel Chan said a memorandum of understanding was signed with Fraser Hospitality last month.

The five-year contract would start at end-2008 upon completion of the 217-unit project, which is 95% sold to date, he said, adding that most of the buyers were keen to let Fraser Hospitality manage and lease their properties

“Under our profit sharing agreement with Fraser Hospitality, it will get 3% of the annual gross operating revenue from rentals, which is about RM20mil a year.

“Fraser Hospitality will also get an incentive fee, which is 4% of the yearly gross operating revenue for the first year. The incentive fee will increase to 5% of the yearly gross operating revenue in the second year and 7% in the third,” he told StarBiz.

Chan added that there was an option to renew the contract for another five years.

Chan said the capital value of Lot 163 Suites, previously named 163 Residence, had appreciated between 30% and 40% since their launch in 2005.

“When they were first launched, the selling price was about RM800 per sq ft. It is now between RM1,000 and RM1,200 per sq ft,” he said.

On the group’s RM1.2bil Menara YNH project, Chan said the local authorities had last month approved the construction of the iconic 35-storey office tower, Menara YNH , in Jalan Sultan Ismail.

“Negotiations are progressing well and we will soon enter a second round of meetings with the prospective joint-venture partners.

“They are very keen to undertake the development of Menara YNH as soon as possible in view of the lack of premium commercial spaces in Kuala Lumpur. We intend to start construction work for the tower by end-2007,” he said.

35 storey only????

RM1.2 Billion for a 35 storey???? Iconic???....err did I miss something here @_@

*huge sigh*

I'm disappointed !!!

YNH to sell tower

By DAVID TAN

PENANG: YNH Property Bhd is finalising the sale of the proposed 45-storey iconic Menara YNH at Kuala Lumpur's Jalan Sultan Ismail for RM1.5bil.

Sources said investors from Australia, Singapore and a Middle-Eastern country were likely to form a consortium to purchase the building, which is scheduled for completion in 2012. delay again :ohno:

“YNH Property is also close to finalising a deal to secure a partner to jointly construct the building.

“The partner, either from Hong Kong, Singapore or New York, is likely to hold a 20%-30% stake in a subsidiary company to be formed,” they told StarBiz.

Earlier this month, YNH Property announced the commencement of earthworks for the project and the allocation of RM4.2mil to relocate the water pipes and manholes at Jalan Sultan Ismail to make way for the tower project.

Menara YNH, to be built on three acres next to the Shangri-La Hotel, is designed to accommodate a single office block and a retail centre.

Each floor plate will have an area of 55,000 sq ft, which is among the largest in the world.
Menara YNH will have a total net lettable area of about 1.2 million sq ft.

The sale of Menara YNH is expected to have a significant impact on the YNH group, which has a share capitalisation of over RM1bil, based on the current share price of RM2.81 per share.

Over the next two years, YNH Property expects its projects, such as 163 Service Suites in Kuala Lumpur and Ceriaan Kiara in Mont' Kiara, to generate over RM400mil in revenue.

the new design is crap....so, i don't care for the delay :D

YNH to sell tower

By DAVID TAN

PENANG: YNH Property Bhd is finalising the sale of the proposed 45-storey iconic Menara YNH at Kuala Lumpur's Jalan Sultan Ismail for RM1.5bil.

Sources said investors from Australia, Singapore and a Middle-Eastern country were likely to form a consortium to purchase the building, which is scheduled for completion in 2012. delay again :ohno:

“YNH Property is also close to finalising a deal to secure a partner to jointly construct the building.

“The partner, either from Hong Kong, Singapore or New York, is likely to hold a 20%-30% stake in a subsidiary company to be formed,” they told StarBiz.

Earlier this month, YNH Property announced the commencement of earthworks for the project and the allocation of RM4.2mil to relocate the water pipes and manholes at Jalan Sultan Ismail to make way for the tower project.

Menara YNH, to be built on three acres next to the Shangri-La Hotel, is designed to accommodate a single office block and a retail centre.

Each floor plate will have an area of 55,000 sq ft, which is among the largest in the world.
Menara YNH will have a total net lettable area of about 1.2 million sq ft.

The sale of Menara YNH is expected to have a significant impact on the YNH group, which has a share capitalisation of over RM1bil, based on the current share price of RM2.81 per share.

Over the next two years, YNH Property expects its projects, such as 163 Service Suites in Kuala Lumpur and Ceriaan Kiara in Mont' Kiara, to generate over RM400mil in revenue.



http://biz.thestar.com.my/archives/2008/1/15/business/b_pg01ynh.jpg

tak cantik lah...80's building!!!

pelik .. why la they still guna iconic term ? :lol:

pelik .. why la they still guna iconic term ? :lol:

Maybe because in YNH's eyes, the building is iconic even if it is not. This is their version of an iconic building which is normal looking only. Nothing special.

I think the word "Iconic" there refers to the floor plate, one of the largest in the world :)

YNH in talks to sell remaining proposed tower

By DAVID TAN

PENANG: YNH Property Bhd will soon be selling the other 50% of the proposed 45-storey Menara YNH at Kuala Lumpur’s Jalan Sultan Ismail, group corporate services head Daniel Chan said.

Another reputable overseas buyer was currently considering purchasing the balance 50% of the tower block and an announcement would be made once the sale was concluded, he told StarBiz yesterday.

In an announcement to Bursa Malaysia on Tuesday, YNH said the group had accepted an offer from Kuwait Finance House (Ma) Bhd to purchase an en bloc interest equal to 50% of the proposed building comprising two wings on a luxurious retail podium for RM920mil.

“We are delighted that Kuwait Finance House, a global Islamic financial house, has selected Menara YNH as part of its investment in Asia.

“This attests to the exclusive business address where the tower block is located, which is in a prime business district within walking distance to public transportation, a prestigious five-star hotel like Shangri-La Hotel, upmarket office space and shopping centres in the Golden Triangle,” Chan said.

Each floor of Menara YNH has a floor plate of 55,000 sq ft, which is among the largest in the world.

Menara YNH also has a total net lettable area of about 1.2 million sq ft, making it one of the biggest in Malaysia.

Finally

YNH sells 50% of Menara YNH for RM920m

Email us your feedback at fd@bizedge.com


KUALA LUMPUR: YNH Property Bhd’s sub-subsidiary, YNH Land Sdn Bhd, is selling 50% of Menara YNH to Kuwait Finance House (Malaysia) Bhd (KFHMB) for RM920 million, YNH said yesterday.

In a statement, YNH said YNH Land had accepted an offer from KFHMB to purchase the en-bloc interest of 50% of the proposed 45-storey office tower. It said the sale and purchase agreement would be formalised at a later date.

Sited on a three-acre land in the Golden Triangle here, Menara YNH is a 45 storey-single iconic office tower :lol: with two wings that sit on a premier retail podium.

The media, developers, etc. are beating the dead horse to pulp with words like "hub", "iconic", "times square", "central park", you get the friggin' idea... Come on, be more original and creative in reporting, and names. Those words are over-used for no good reason. YNH building an icon? They don't even know their ass from their head!!!:bash:

YNH plans more land buys with tower sale proceeds
by Chong Jin Hun
Email us your feedback at fd@bizedge.com


KUALA LUMPUR: YNH Property Bhd will use the RM920 million proceeds from selling 50% of the upcoming Menara YNH in Kuala Lumpur to buy more prime Klang Valley sites, a move which may see the Perak-based developer incur more borrowings.

YNH head of corporate services Daniel Chan said the firm planned to buy more land along Jalan Sultan Ismail, Jalan Bukit Bintang and within the Mont’ Kiara enclave. “We are eyeing these areas, and talks are on-going. We will borrow if neccessary,” he told the The Edge Financial Daily yesterday.

YNH’s land bank in Malaysia includes 13.2ha in the Klang Valley, and 440ha in Perak’s Manjung district where the developer’s RM3.12 billion Bandar Manjung Point township sits.

The company announced on Tuesday that Kuwait Finance House (Malaysia) Bhd (KFHMB) is purchasing the 50% interest of the 45-storey Menara YNH, located on a 1.2ha feeehold tract along Jalan Sultan Ismail.

At RM920 million, the sale involving an area of 750,000 sq ft works out to some RM1,230 per sq ft. The price is about 10% above the RM1,120 per sq ft KFHMB and local property investor Prestige Scale Sdn Bhd paid for the 36-storey Glomac Tower in the Kuala Lumpur City Centre.

The remaining 50% of the tower will also be sold to foreign buyers, Chan added, without eloborating. Upon finalising the sale of the entire building, YNH stands to rake in some RM1.84 billion, he said.

“Menara YNH’s selling price is a new high, and a major catalyst for YNH’s future earnings” said an analyst. But the sale proceeds should first be channelled to the development of Menara YNH, and subsequently for YNH’s future land purchases, he added.

It is learnt that YNH may rope in a partner to build Menara YNH from which the developer is targeting a 15% operating profit margin, based on the RM920 million price tag.

In December 2006, YNH and Singapore’s CapitaLand Ltd had signed a memorandum of understanding (MoU) to jointly build Menara YNH on a 60:40 shareholding basis.

Construction of the building, initially valued at around RM800 million, was originally planned to begin in mid-2007 and scheduled for completion by end-2011.

However, the YNH-Capitaland collaboration was terminated in June 2007 as certain conditions under the MoU could not be fulfilled, resulting in YHH undertaking the task on its own.

YNH’s net profit for the nine months to Sept 30, 2007 rose 25% to RM66.3 million from RM52.9 million a year ago. However, revenue declined 2% to RM181.6 million from RM184.4 million.

Shares of YNH dipped 10 sen to close at RM2.75 yesterday with some 4.9 million shares traded.

oh nooo more ynh boring architecture will come to town

oh nooo more ynh boring architecture will come to town
Yeah, I fear the worst. Although successfull, it's a very strange company. No homepage, everything so shabby.:ohno:

why did you say YNH is 'strange company'? don't you aware they are building a condo next to Hong Leong@ Jalan P Ramlee..?

they used to have a website.... www.ynhb.com.my no more i guess

why did you say YNH is 'strange company'? don't you aware they are building a condo next to Hong Leong@ Jalan P Ramlee..?
I would probably do the same if I had the cash. What on earth can go wrong if you build a condo in KLCC vicinity at the moment? Asia property markets are booming. You also know how that KL lacks virtually thousands of hotel rooms. Hotels are jam-packed.
YNH does not get my respect for that. I like Bandaraya, YTL or Sunrise. They created a brand, a vision and operate proper webpages.
633@residency - it took me ages to find a rendering in the web. By the time I found it, the building was nearly complete already.
Why so secretive lah?:bash:

YNH does not get my respect for that. I like Bandaraya, YTL or Sunrise. They created a brand, a vision and operate proper webpages.
633@residency - it took me ages to find a rendering in the web. By the time I found it, the building was nearly complete already.
Why so secretive lah?:bash:

emm..agree! the developer is indeed a 'sudden' company coming from nowhere...seriously i've never heard of them b4. but in the other side...it shows how malaysian economic success(?) creates more profit driven property millionaires.....

bandaraya is not that excellence, their CapSquare is not something they can feel proud of (even a german company bought a tower recently), on the other hand...Sunrise is making name by its 'mont' kiara' which is a phenomenon address...and YTL is struggling for their sentul transformation dream...

and we don't know...maybe one day TNH will become just like one of them...

YES YNH is a sudden company. All of sudden from a small town developer got sooo much publicity in the papers. Then Forbes even rank it Best under a billion category in Asia. Cant believe it!

YNH is a family run company. The usual Chinese family style. Dont like to create too much brand here n there. I would say less "Westernized" company. But if it continues to buy land in KL soon it will be a prominent developer.

http://www.btimes.com.my/Current_News/BTIMES/Saturday/Nation/ynh17.xml/Article/

YNH Property sees RM2b from tower sale

Perak-based YNH sold half of the development, called Menara YNH, to Kuwait Finance House at about RM1,230 per sq foot, a record for prime space in Kuala Lumpur

http://www.btimes.com.my/Current_News/BTIMES/Saturday/Nation/ynh17.xml/Article/Current_News/BTIMES/Images/ynh19.jpg


DEVELOPER YNH Property Bhd expects to reap as much as RM2 billion from the sale of an office tower to foreigners, the biggest commercial property transaction in Kuala Lumpur.

YNH agreed on Tuesday to sell half of the 45-storey development to Kuwait Finance House (Malaysia) Bhd for RM920 million and is in talks to sell the rest to two foreigners at a 20 per cent premium in the next one to two months, chairman Datuk Yu Kuan Chon said.

"There is a shortage of office space ... multinational companies, foreign banks want space" for their operations, Yu said in a phone interview late yesterday. YNH is attracting buyers because prices in Malaysia are "20 per cent that of" neighbouring Singapore, he added.

Foreign investors including Kuwait Finance and Germany's Union Investment Real Estate AG are buying commercial buildings in Malaysia amid a resurgence in demand. Kuala Lumpur's office rents have risen 12 per cent in the past year, and are ranked the sixth cheapest in the world, according to DTZ Research's Global Office Occupancy Costs Survey 2008.

Incoming supply of office space rose 19 per cent in the first half of 2007, rebounding from a 16 per cent decline in the same period a year earlier, government data showed. Occupancy rates climbed to 84.9 per cent at end-June 2007 from 84.4 per cent the year before.

On Bursa Malaysia, YNH shares rose nine sen, or 3.3 per cent, to RM2.84 at the close yesterday. The stock has risen 50 per cent in the past year, compared with the 28 per cent gain in the Malaysian benchmark index.

Perak-based YNH sold half of the development, called Menara YNH, to Kuwait Finance at about RM1,230 per square foot, a record for prime space in the capital, Yu said. It's in talks with buyers from Singapore and Hong Kong for the remaining 50 per cent of the project located next to the Shangri-La hotel, he said.

The pricing is "about 32 per cent higher than my estimates and slightly higher" than the recently transacted price in Glomac Tower within the same area of RM1,154 per square foot, said Mervin Chow Yan Hoong, an analyst at OSK Research Sdn.

The sale also "adds more certainty" to the project and will accelerate YNH's search for foreign partners to help fund the construction, Yu said. It will take about three to four years to build the project, he said.

YNH, which counts United Overseas Bank Ltd, Henderson Global Investors Ltd and Fidelity Investments among its biggest shareholders, reported a 30 per cent jump in profit to a record RM69.5 million in 2006 from a year earlier. - Bloomberg

That's the old rendering lah. I think they re-designed recently.

YNH to leverage on sale of Menara YNH

Email us your feedback at fd@bizedge.com


KUALA LUMPUR: YNH Property Bhd plans to build some RM1 billion worth of real estate on prime Klang Valley sites that it intends to buy with proceeds from the sale of its upcoming Menara YNH, an estimated RM2 billion commercial tower which it hopes to fully sell off within three months.

Perak-based YNH intended to develop offices on potential tracts in Jalan Sultan Ismail and Jalan Bukit Bintang, besides residential units within Mont’Kiara, YNH head of corporate services Daniel Chan told The Edge Financial Daily in an interview.

“We plan to launch the projects in one to two years,” Chan said.

YNH has recently sold half of the 45-storey Menara YNH to Kuwait Finance House (Malaysia) Bhd (KFHMB) for RM920 million, or about RM1,230 per sq ft.

Talks, meanwhile, are ongoing to sell the balance of the building, with build-up of 1.5 million sq ft, to real estate funds from Singapore, Hong Kong and Australia.

YNH is also in the midst of roping in a foreign developer — either from Singapore, or Hong Kong — to jointly build Menara YNH on a 1.2ha (3 acre) freehold site beside the Shangri-La Hotel in Jalan Sultan Ismail.

“We plan to give 30% equity to our potential foreign partner,” Chan said, adding that a deal could be struck within three months.

At a RM2 billion price tag, Menara YNH was expected to generate a gross development profit of RM760 million based on a 38% margin, according to Chan. The building is due for completion within three and a half years.

YNH appoints architects for building :cheers:

By DAVID TAN
PENANG: YNH Property Bhd has appointed Foster & Partners as architects for the group’s RM1.8bil Menara YNH in Kuala Lumpur's Golden Triangle.

“We made the appointment because our buyers for the project have indicated that they wanted an internationally-renowned architect for the building.

“The rationale is to add value to the project,” group corporate services head Daniel Chan told StarBiz.

Britain-based Foster & Partners, appointed last week, has high-profile projects in Germany, South Korea, Hong Kong, France and Malaysia.

The company designed the London headquarters of global insurance company Swiss-Re, Hongkong and Shanghai Bank's head office in Hong Kong, Hong Kong International Airport - touted as the world’s largest airport - and London’s third airport, Stansted.

It is currently designing Daewoo Electronics' headquarters in South Korea, and Vivaldi Tower in Amsterdam, the Netherlands.

Sir Norman Foster, the 1999 Laureate of the Pritzker Architecture Prize, is chairman of Foster & Partners.

Chan said the iconic Menara YNH would have a luxurious retail podium equipped with energy-saving features. The 45-storey building will have more than 55,000 sq ft of built-up area per floor, and a total of 1.2 million sq ft of lettable space.

Early this year, the group announced an offer from Kuwait Finance House to buy 50% of Menara YNH for RM920mil.

Investors from Australia and Singapore are currently considering acquiring the remaining 50% of the project.

On the group’s project in Mont Kiara, Chan said YNH Property would launch the RM680mil D’Kiara Place, at the end of the second quarter.

The project, comprising serviced apartments, an office block and a retail centre, is located near Plaza Mont Kiara, a landmark business and commercial complex.

In a recent report, ECM Libra Investment Bank said YNH Property has one of the highest unbilled sales in the country.

It said with half of Menara YNH for RM920mil, YNH's unbilled sales of RM1.2bil was one of the largest in the country, more than four times its 2007 revenue of RM290mil.

This means that the group has locked in 40% to 50% of its earnings before interest and tax for financial years 2008 and 2009.

there is Hope, there is Hope :banana:

YNH appoints architects for building :cheers:

By DAVID TAN
PENANG: YNH Property Bhd has appointed Foster & Partners as architects for the group’s RM1.8bil Menara YNH in Kuala Lumpur's Golden Triangle.

“We made the appointment because our buyers for the project have indicated that they wanted an internationally-renowned architect for the building.

“The rationale is to add value to the project,” group corporate services head Daniel Chan told StarBiz.

Britain-based Foster & Partners, appointed last week, has high-profile projects in Germany, South Korea, Hong Kong, France and Malaysia.

The company designed the London headquarters of global insurance company Swiss-Re, Hongkong and Shanghai Bank's head office in Hong Kong, Hong Kong International Airport - touted as the world’s largest airport - and London’s third airport, Stansted.

It is currently designing Daewoo Electronics' headquarters in South Korea, and Vivaldi Tower in Amsterdam, the Netherlands.

Sir Norman Foster, the 1999 Laureate of the Pritzker Architecture Prize, is chairman of Foster & Partners.

Chan said the iconic Menara YNH would have a luxurious retail podium equipped with energy-saving features. The 45-storey building will have more than 55,000 sq ft of built-up area per floor, and a total of 1.2 million sq ft of lettable space.

Early this year, the group announced an offer from Kuwait Finance House to buy 50% of Menara YNH for RM920mil.

Investors from Australia and Singapore are currently considering acquiring the remaining 50% of the project.

On the group’s project in Mont Kiara, Chan said YNH Property would launch the RM680mil D’Kiara Place, at the end of the second quarter.

The project, comprising serviced apartments, an office block and a retail centre, is located near Plaza Mont Kiara, a landmark business and commercial complex.

In a recent report, ECM Libra Investment Bank said YNH Property has one of the highest unbilled sales in the country.

It said with half of Menara YNH for RM920mil, YNH's unbilled sales of RM1.2bil was one of the largest in the country, more than four times its 2007 revenue of RM290mil.

This means that the group has locked in 40% to 50% of its earnings before interest and tax for financial years 2008 and 2009.

cool n good news........they r the architect 4 the troika....so cant wait 4 dis....another cool tower in the making!!!!!

any latest news?

or how about dis project?

http://www.ynhb.com.my/v2/images/Highlights/DKiara.jpg

still under proposal?

and dis

1 Duta at Seri Hartamas, Kuala Lumpur
http://www.ynhb.com.my/v2/images/1duta.jpg

YNH Property Bhd intends to develop this 5 acres land which is located at Seri Hartamas into high end luxury condominiums. 1 Duta is located near Changkat Kiara with a gross development value of approximately RM150.0 million.

any latest news?

plz change dis ugly tower

http://www.ynhb.com.my/v2/images/Highlights/MenaraYNH.jpg
We have to wait now for a new design from Normal Foster, but since they only recently appointed Foster, we might have to wait several month to see any rendering. My guess is that we see something end of this year.

Norman Foster!!! My idol. :) :)

to sir norman foster, we r stil waiting 4 ur design hehe.....

we want something really ICONIC... not a square box!

I suspect this project sangkut again!!!

new from sir norman foster, his latest in singapore

http://bp0.blogger.com/_NXdri2A7vw8/SCDbjyZbntI/AAAAAAAAA7Y/sO7dTHqd_Fc/s1600/fostersingapore_5.jpg

can we xpect sumtin like dis from him???

YNH May Sell Half of Foster Tower for $370 Million


YNH Property Bhd. is seeking as much as 1.2 billion ringgit ($370 million) by selling in advance half of a tower being designed by Norman Foster for Kuala Lumpur in the Malaysian capital's biggest commercial property transaction.

YNH is in talks with a ``big property player'' in Hong Kong, an Australian fund and a Singaporean investor, Daniel Chan, head of corporate services at the Ipoh, Malaysia-based company, said in a phone interview. He declined to identify potential buyers. The company sold the first half of the development in January to Kuwait Finance House (Malaysia) Bhd. for 920 million ringgit.

``There's been very little supply of Grade A buildings in Kuala Lumpur,'' said Ong Choon Fah, regional head of research at DTZ Debenham Tie Leung, a property consulting company. ``It helps to have a `starchitect,' and Foster is a global brand.''

Developers including YNH, Sunway City Bhd. and Mah Sing Group Bhd. are increasing sales to foreign investors as rising Kuala Lumpur office rents push up returns on properties. Malaysia, the world's second-largest palm oil exporter and Southeast Asia's second-biggest oil producer, is benefiting from high fuel prices.

Shares of YNH jumped 14 sen, or 6.6 percent, to close at 2.25 ringgit on Malaysia's stock exchange, the biggest advance since April 25. The stock has fallen 17 percent this year.

YNH expects to get 30 percent more for the second half of the 45-story development than its sale of the first half because of a shortage of best-quality office space in Kuala Lumpur and Foster's reputation, Chan said.


FOSTER TOWER?????[

YNH May Sell Half of Foster Tower for $370 Million (Update2)

By Chan Tien Hin

YNH Property Bhd. is seeking as much as 1.2 billion ringgit ($370 million) by selling in advance half of a tower being designed by Norman Foster for Kuala Lumpur in the Malaysian capital's biggest commercial property transaction.

YNH is in talks with a ``big property player'' in Hong Kong, an Australian fund and a Singaporean investor, Daniel Chan, head of corporate services at the Ipoh, Malaysia-based company, said in a phone interview. He declined to identify potential buyers. The company sold the first half of the development in January to Kuwait Finance House (Malaysia) Bhd. for 920 million ringgit.

``There's been very little supply of Grade A buildings in Kuala Lumpur,'' said Ong Choon Fah, regional head of research at DTZ Debenham Tie Leung, a property consulting company. ``It helps to have a `starchitect,' and Foster is a global brand.''

Developers including YNH, Sunway City Bhd. and Mah Sing Group Bhd. are increasing sales to foreign investors as rising Kuala Lumpur office rents push up returns on properties. Malaysia, the world's second-largest palm oil exporter and Southeast Asia's second-biggest oil producer, is benefiting from high fuel prices.

Shares of YNH jumped 14 sen, or 6.6 percent, to close at 2.25 ringgit on Malaysia's stock exchange, the biggest advance since April 25, making it the second-largest gainer on the benchmark stock index. The stock has fallen 17 percent this year.

YNH expects to get 30 percent more for the second half of the 45-story development than its sale of the first half because of a shortage of best-quality office space in Kuala Lumpur and Foster's reputation, Chan said.

London-based architecture firm Foster & Partners, which designed the Beijing Capital International Airport's newest terminal and ``The Gherkin'' skyscraper in London, was appointed in March to design the 55,000-square-foot development.

Norman Foster

YNH's sale of half of the building to Kuwait Finance at about 1,200 ringgit per square foot represented a gross yield of 7.5 percent. That's higher than the average gross yield of about 6 percent for buildings in Singapore, Ong said.

``It will be a new benchmark pricing, with Norman Foster coming in'' to design the complex, Chan said in an interview yesterday. ``We are looking for parties who are interested to get yields.''

The 30 percent premium YNH is chasing is ``a bit on the high side,'' said Mervin Chow Yan Hoon, an analyst at OSK Research Sdn. in Kuala Lumpur. The buyers will have to charge monthly rents of about 8 ringgit per square foot, compared with an average for the Malaysian capital of 4 to 7 ringgit, he said.

Occupancy rates in Kuala Lumpur rose to 85 percent last year from 84.7 percent the year before, according to government data.

Office Supply

The planned supply of office space jumped 87 percent in the fourth quarter to 4.1 million square meters (44 million square feet) from the third quarter, government data showed.

The sale to Kuwait Finance will be completed in one to two months and the deal for the remaining half will be done within six months, Chan said. Foster's building design will be presented by the end of the month to Kuwait Finance, he said.

The company expects to reap a total of 2.1 billion ringgit in 2008 from the sale of the building, he said.

Including the Kuwait Finance deal, YNH has unbilled sales of 1.35 billion ringgit that will last for four to five years, buoyed by demand for its property projects, Chan said.

``We see a lot of foreign buyers coming in as the equity market is quite volatile at the moment, there's a switch to property in Asia,'' he said.

YNH expects profit to rise 24 percent this year to 100 million ringgit, he said.

To contact the reporter on this story: Chan Tien Hin in Kuala Lumpur thchan@bloomberg.net.

stil no news huh??? y so slow 1??

http://www.ynhb.com.my/v2/images/Highlights/MenaraYNH.jpg

taken from YNH website...hmmm twin tower??

This one sure sangkut one!!!

^^not sangkutla...waiting the new design from sir norman foster.....well hopefully lah...lol!!

This one sure sangkut one!!!

^^^^^^^^^^
well dengilo...kamu betulla hehe....:nuts::ohno::nuts::ohno:

YNH struggles with RM2.1b Foster tower
Published: 2008/10/22


The developer is delaying completion of the RM920 million sale of the first half of the 45-story office development to Kuwait Finance House (Malaysia)


YNH Property Bhd is delaying the sale of part of a RM2.1 billion (US$600 million) tower being designed by Norman Foster as the global credit crisis threatens the Malaysian capital’s biggest commercial property transaction.

The company may scrap plans to raise as much as RM1.2 billion by selling half of the project and is in talks with funds from Singapore, Hong Kong and Japan on a venture to help complete development of the tower, said Daniel Chan, head of corporate services at the Ipoh, Malaysia-based company.

“People are more cautious and want lower pricing,” Chan said in an interview yesterday. “This global problem will definitely affect Malaysia. It would be foolish to say we will be shielded.”

YNH stumbled in attempting to carry out Kuala Lumpur’s biggest commercial transaction as the global credit crisis threatened to tip the world into recession. Malaysia’s government said October 20 it expects slower-than-expected growth next year as the US and Chinese economies cool.


The company is delaying completion of the RM920 million sale of the first half of the 45-story office development to Kuwait Finance House (Malaysia) Bhd, agreed to in January, because of design changes, Chan said.

London-based architecture firm Foster & Partners, which designed the Beijing Capital International Airport’s newest terminal and “The Gherkin” skyscraper in London, was appointed in March to design the Kuala Lumpur tower.

Supply Glut Looms

Malaysian real estate prices may stall as the supply of office space will increase from 2010, said Mervin Chow, an analyst at OSK Research Sdn Bhd.

“A lot of supply will hit the market in Kuala Lumpur, so I’m not to sure whether they can demand a good price by that time,” he said. “Supply is going to come in by the end of this year and the momentum is going to peak by 2011. The dynamics of supply and demand by that time is not going to be favorable for developers.”

There will be an additional 24.8 million square feet (2.3 million square meters) of office space after 2010, compared with existing capacity of 56.8 million square feet, Chow said.

Malaysia Slowing

Malaysia will cut its 2009 economic-growth forecast on November 4, from the current estimate of 5.4 per cent, Finance Minister Datuk Najib Razak said on October 20.

The developer is negotiating with funds that may take a 20 per cent stake in a venture to develop the tower. Investing in a venture will allow the funds to receive earnings from rents while they wait for property markets to recover. They may then sell the building to a real estate investment trust, Chan said.

They “will have the ability to sell the second block to a REIT, that’s what they have proposed to us,” he said. “It’s still in early stages of discussions.”

YNH in January agreed to sell the first half of the development to Kuwait Finance.

The sale will be completed by year-end, later than planned, so the buyers can “make sure everything is right,” Chan said.

The Grade A tower in Malaysia will have a retail podium and two office wings with total lettable space of 1.2 million square feet (111,000 square meters).

Shares of YNH have fallen 54 per cent this year, outpacing the 37 per cent slide in the benchmark Composite Index.

YNH plans to increase 2009 profit by 20 per cent to as much as RM120 million next year, based on RM300 million of sales.

“We are very cautious, we now like to be more conservative in what we are doing,” Chan said. “If we are able to achieve our targets, it will be a bonus for us.” - Bloomberg

i knew it .....


btw this company memang tak impressive langsung look at their website and annual report is like primary school work

Ha Ha dulu jual kelapa sawit ma!!!Just look at their other project next to rohas perkasa slow as hell!!!

i knew it .....


btw this company memang tak impressive langsung look at their website and annual report is like primary school work
True, I always found this company very strange. 633 residency was never on their webpage.

wow, so the green area in Jalan Sultan Ismail is saved! thank God...

YNH in talks with funds to complete RM2.1b KL project
Published: 2008/10/23



YNH Property Bhd is delaying the sale of part of a RM2.1 billion tower being designed by Norman Foster as the global credit crisis threatens the Malaysian capital's biggest commercial property transaction.

The company may scrap plans to raise as much as RM1.2 billion by selling the second half of the project and is in talks with funds from Singapore, Hong Kong and Japan on a venture to help complete development of the tower, said Daniel Chan, head of corporate services at the Ipoh-based company.

"People are more cautious and want lower pricing," Chan said in an interview yesterday. "This global problem will definitely affect Malaysia. It would be foolish to say we will be shielded."

YNH stumbled attempting to carry out Kuala Lumpur's biggest commercial real estate deal as the global credit crisis threatened to tip the world into recession.



The Malaysian government said on October 20 it expects slower-than-expected growth next year as the US and Chinese economies cool.

Shares of YNH closed 7 sen lower at RM1.15 yesterday. The decline in the company's shares this year has outpaced the slide in the benchmark Kuala Lumpur Composite Index.

The company is delaying completion of the RM920 million sale of the first half of the 45-storey office development to Kuwait Finance House (Malaysia) Bhd, agreed to in January, because of design changes, Chan said.

London-based architecture firm Foster & Partners, which designed the Beijing Capital International Airport's newest terminal and "The Gherkin" skyscraper in London, was appointed in March to design the Kuala Lumpur tower.

Malaysian real estate prices may stall as the supply of office space will increase from 2010, said Mervin Chow, an analyst at OSK Research Sdn.

"A lot of supply will hit the market in Kuala Lumpur, so I'm not too sure whether they can demand a good price by that time," he said. "Supply is going to come in by the end of this year and the momentum is going to peak by 2011. The dynamics of supply and demand by that time is not going to be favourable for developers."

There will be an additional 24.8 million square feet of office space after 2010, compared with existing capacity of 56.8 million square feet, Chow said.

Malaysia will cut its 2009 economic-growth forecast on November 4, from the current estimate of 5.4 per cent, Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak said on October 20.

The developer is negotiating with funds that may take a 20 per cent stake in a venture to develop the tower.

Investing in the venture will allow the funds to receive earnings from rental while they wait for property markets to recover. They may then sell the building to a real estate investment trust, Chan said.

They "will have the ability to sell the second block to a REIT, that's what they have proposed to us," he said. "It's still in early stages of discussion."

YNH in January agreed to sell the first half of the development to Kuwait Finance.

The sale will be completed by year's end, later than planned, so the buyers can "make sure everything is right," Chan said.

The Grade A tower in Malaysia will have a retail podium and two office wings with total lettable space of 1.2 million square feet.

YNH plans to increase 2009 profit by 20 per cent to as much as RM120 million next year, based on RM300 million of sales.

"We are very cautious, we now like to be more conservative in what we are doing," Chan said. "If we are able to achieve our targets, it will be a bonus for us." - Bloomberg

new from YNH...what???

http://farm4.static.flickr.com/3209/2980559802_db1f5128ea_o.png

YNH: No delay in sale of property
Published: 2008/10/29

PROPERTY developer YNH Property Bhd said there is no delay in the sale of the first block of its RM2.1 billion YNH Tower development in Kuala Lumpur to Kuwait Finance House (KFH) Bhd.

It also clarified that it is in no hurry to sell the second block or seek a joint venture partner to complete the project as reported by Bloomberg on October 22 2008.

YNH told Bursa Malaysia yesterday the proceeds from the sale of the first block to KFH for RM920 million will be used to fund the construction of the whole development. :cheers:

The Troika with a gross development value of RM840mil is slated for completion in mid 2009

^^ No way nazrey. Troika is barely half the height now.

Bandar Raya rides on The Troika
By S.C.Cheah

Developer picks Foster and Partners to spearhead its branding abroad

BANDAR Raya Developments Bhd (BRDB) will be using “The Troika” as its brand name for some of its future high-end residential developments abroad.

Chief executive officer Datuk Jagan Sabapathy wants The Troika, the name of its very high-end condominium in the Kuala Lumpur City Centre (KLCC) development, to further drive BRDB's reputation abroad.

BRDB's One Menerung 8-acre development is its last land bank in prime Bangsar and the developer is paying particular attention to details and product. The development offers buyers a choice of ultra modern and elegant living in low- and high-rise units and average price is from RM2.9mil.
“This is because The Troika is an iconic development by world-renowned architects Foster and Partners and Datuk Jagan has the vision of building a chain of Troikas overseas.

“With this famous brand name, people especially foreigners, will know that we are a serious player,” BRDB chief operating officer C. C. Pan told StarBiz in Hong Kong last week.

Indeed, the Foster and Partners name is so popular that its name conjures an image of a world-class product that is not only a market leader in terms of design, pricing and prestige but trust.

“BRDB had the vision to hire Foster and Partners which is a fantastic brand name and which sees itself as our partner. It went to the extent of placing a partner and a very senior architect at The Troika site,” Pan said, adding that BRDB was paying top dollars for this arrangement.

“We do not want to be stingy, as we want to deliver more than what we have promised to our purchasers. We are giving a 5 or 6-star product at 3-star global price when compared to countries like Singapore,'' he said, adding that BRDB is focused on delivering premium products.

Pan, a civil engineer by training, said Foster and Partners was very selective with whom it teamed up with.

“If you want to engage them, they may not accept you. They also want to check you out first.

“That's why our purchasers are very confident of us. Up till today, no other developments come close to us as The Troika is so iconic,” he said, adding that The Troika's structure was built to withstand strong tremors.

Foster and Partners founded by Lord Norman Foster, has received more than 300 awards and citations for design excellence, and won 65 national and international design competitions.

Its buildings are famous all over the world.

The Troika with a gross development value of RM840mil is slated for completion in mid 2009. It boasts of two double volume glass-encased bridges connecting the sky lobby, which spans each of The Troika's three towers. The sky lobby offers a great view of the Petronas Twin Towers.

Pan said about 70% of the units had been sold. Four of the eight penthouses have been sold to foreigners. One of them is a four-level, 21,000 sq ft “luxurious penthouse” whose current price is about RM57 mil.

The Troika

Keen interest prompts latest YNH launch
By DAVID TAN


It targets to unveil RM1bil Kiara 163 suites next month

YNH Property Bhd is targeting to officially launch its RM1bil Kiara 163 suites, a mixed development project in Mont’ Kiara, Kuala Lumpur, next month.

The project comprises a 23-storey office tower (175,000 sq ft), two 42-storey serviced apartment blocks (595,000 sq ft), retail podium (142,000 sq ft), and an auditorium (175,000 sq ft).

“We are launching the project due to keen interest from prospective local and foreign purchasers and also due to its prime location.

“There are always investors who look at property investment as a good hedge against inflation.

“We have secured about RM260mil in sales for the office and retail space to-date,” said group corporate services head Daniel Chan.

http://biz.thestar.com.my/archives/2008/11/24/business/b_09kiara.jpg
An artist's impression of the Kiara 163 project

Chan said that to add value to Kiara 163, the retail podium and serviced apartments had eye-catching architectural designs and recreational facilities.

The two 42-storey serviced apartment blocks had a unique curved block design that was accentuated by the extensive use of glass windows, he said.

“The apartments will be equipped with facilities such as a swimming pool, jacuzzi, a gym, squash court with garden setting, and an entertainment pavilion,” Chan added.

The four-level retail podium is positioned as a neighbourhood retail centre catering to affluent expatriates and the local population.

“Food and beverage outlets, a supermarket, specialty stores which deals in fashion, eyewear and watches as well as service providers, including laundry outlets and medical and dental clinics, are on our list of retailers.

“The unique feature of the retail podium is the sunken outdoor courtyard where the food and beverage outlets will be located,” Chan said.

The office tower block, which would provide an alternative to corporate headquarters that did not require a city centre address, was also designed to accommodate small home-office units, Chan added. “This would help us tap into diverse markets,” he said.

The group’s other mixed-development projects, Duta Kiara 1, Duta Kiara 2, Duta Kiara 3, Duta Kiara 5, Duta Kiara 6 and Project 3KL, located in Mont’ Kiara, Hartamas and Kuala Lumpur city centre, would be launched over the next two years, Chan said.

These projects have a total gross development value (GDV) of about RM2bil.

“Our projects in KL and Mont’ Kiara, such as the Fraser Place KL and Ceriaan Kiara, have been well received with Fraser Place KL achieving sales of about 99% and Ceriaan Kiara 87% to-date,” said Chan.

Fraser Place KL is scheduled for completion soon, while Ceriaan Kiara will be ready by end-2009.

In Manjung the group’s “bread and butter” township development will continue to contribute to earnings for the next 20 to 30 years due to the demand from employees of the Lumut Naval Base as well as workers at the oil and gas fabrication and biodiesel plants there.

On the status of Menara YNH, the group had accepted Kuwait Finance House’s offer to buy 50% of the iconic “Grade A” office tower in January, Chan said.

“This property, located in the central business district, is designed by a world-renowned architect firm, Fosters and Partners.

“We are not in a rush to sell the second block as we want to get the best value for our shareholders.

“Based on our earnings before interest, tax, depreciation and amortisation of 50%, we are able to achieve a yield of above 7.20% if the rental is conservatively priced at RM3.80 per sq ft,” he said.

Chan said the company’s dividend policy was at least 30% of profits but the group had paid a higher rate in the past few years.

new from YNH...what???

http://farm4.static.flickr.com/3209/2980559802_db1f5128ea_o.png

The group’s other mixed-development projects, Duta Kiara 1, Duta Kiara 2, Duta Kiara 3, Duta Kiara 5, Duta Kiara 6 and Project 3KL, located in Mont’ Kiara, Hartamas and Kuala Lumpur city centre, would be launched over the next two years, Chan said.

YNH plans condo project atop Genting Highlands:nuts::nuts::nuts::nuts::nuts:
By C.S. TAN


PETALING JAYA: A rare piece of land on Genting Highlands has been snapped up by YNH Property Bhd which will build holiday condominiums amid the rarefied air there.

It is believed most of the land on the highlands is owned by the Genting group.

YNH itself was surprised that there was land available and offered by a company. It completed the land purchase at the end of last year but did not announce it as the sum involved is not substantial relative to its equity.

YNH paid RM16mil for 95 acres which an official described as being on the same level as the casino. “If it’s on the Awana or Gohtong Jaya level, we wouldn’t have bought it,” a company official told StarBiz yesterday.

The Awana hotel and resort and Gohtong Jaya township are some distance below the peak of Genting Highlands and therefore, less cooling. The land that YNH bought is near the top where the temperature is around 15 to 16 degrees Celsius, he said.

Although the land YNH bought is sizeable, only 30% to 40% is suitable for development as the slope on the rest is too steep. “We’ll use the rest of the land for a golf course and jungle trekking,” the official said.

As for the development portion of the land, the official said the company estimated the gross development value (GDV) at up to RM2bil over 15 to 20 years.

It is working on a GDV of about RM50mil an acre, which it considers achievable as high-end condominium projects in the suburbs of Kuala Lumpur can have a GDV of about RM100mil an acre.

The official said the land had been converted from agricultural use to that of mixed property development. The company is preparing layout and building plans for approval from the Pahang state authorities, and hopes to launch sales next year.

Beside the cool weather, a feature that led YNH to buy the land is that there is good road infrastructure that was built by the Genting group. The land YNH bought will also be accessible by the main Genting road.

On YNH’s other projects, the official said the retail area of Kiara 163 had been sold for a total of RM200mil. Sales for the apartment units of this project in the Mont’ Kiara area of Kuala Lumpur have not been launched yet.

Meanwhile, it has also sold the retail units in the first phase of Menara YNH, near Shangri-La Hotel in Kuala Lumpur. The units in the retail podium were sold for RM300mil and the company expects to start construction of that in three months’ time.:banana::banana::banana:

Analysts, however, were disappointed at a recent briefing when they were informed of a further delay in the sale of one of the twin towers of Menara YNH to Kuwait Finance House. The sale and purchase agreement for that might not be signed till next year, they were told.

it strongly support any project to expend Genting Highland territory. as they are remain small while the tourist number is becoming bigger....

while i suggest instead of those ugly concrete hotels, why don't they build a forest resort, something like The Datai?

http://www.langkawi-resorts.com/datailk/japan/images/hotel00.jpg

http://farm1.static.flickr.com/1/125218476_07cc2b055e.jpg?v=0

YNH plans condo project atop Genting Highlands:nuts::nuts::nuts::nuts::nuts:
By C.S. TAN


Meanwhile, it has also sold the retail units in the first phase of Menara YNH, near Shangri-La Hotel in Kuala Lumpur. The units in the retail podium were sold for RM300mil and the company expects to start construction of that in three months’ time.:banana::banana::banana:

Analysts, however, were disappointed at a recent briefing when they were informed of a further delay in the sale of one of the twin towers of Menara YNH to Kuwait Finance House. The sale and purchase agreement for that might not be signed till next year, they were told.

http://farm3.static.flickr.com/2434/3583568359_7a4262384a_o.jpg

http://farm4.static.flickr.com/3619/3584375946_0d2591eb74_o.jpg

Found inital renderin of menara YNH by Norman Foster on this presentation.
Can someone please be so kind and post the pic. :cheers:

http://www.ynhb.com.my/v2/downloads/YNHB_Investor_Presentation_2008.ppt

http://farm4.static.flickr.com/3408/3615627045_66296417da_o.png

glassy......niceeee:banana::banana::banana:

YNH’s serviced residences to be managed by Fraser & Neave
By DAVID TAN


GEORGE TOWN: YNH Property Bhd rebranded a month ago its RM350mil 163 Seviced Suites project as the five-star Fraser Place Kuala Lumpur to be managed by Frasers Hospitality Pte Ltd, the hospitality arm of the Fraser & Neave Group.

Fraser Hospitality manages four and five-star serviced residences equipped with hotel facilties worldwide under its prestigious Fraser Place, Fraser Residence, Fraser Suites, and Fraser Resort brand names.

Fraser Place Kuala Lumpur is scheduled to commence operations and grand opening in November 2009.

“We brought in Fraser Hospitality to manage because this will enhance returns and add value to our investors from the rentals of the serviced suites,’’ YNH corporate services head Daniel Chan told StarBiz.

“We estimated that for the location – Jalan Perak – where the project is located, which is five minutes from the KLCC shopping complex, the yield generated from rental is between 6% and 10% per year based on the purchase price of the units.

“Fraser Place Kuala Lumpur will be one of the higher-yield generating properties based on the purchase price of the units, which ranges from RM600,000 to RM2mil,” he said.

Chan said Fraser Place Kuala Lumpur was sold out, leaving only about RM80mil in unbilled sales to be recognised.

YNH started selling the project back in late 2005, and completed the sales only recently.

“The investors, both local and foreign, have agreed to lease their properties back to us, as they realised that they could generate higher returns through Fraser Hospitality management,” he said.

Fraser Place KL offers 217 rooms, comprising studios with one and two bedrooms and luxurious penthouses, with built-up areas ranging from 450 to 4,000 sq ft.

Chan said the group had also engaged Fraser Hospitality to manage its 446-unit serviced residence development to be known as Fraser Residence Kuala Lumpur, off Jalan Sultan Ismail, next to Renaissance Hotel.

The RM550mil project, comprising two 30-storey towers with one and two-bedroom serviced apartments, features a sky gymnasium, infinity lap pool, whirlpool and sauna.

“It is scheduled for completion in four years,” Chan said.

On the group’s 95-acre land in Genting Highlands, he said YNH planned to develop residential cum commercial projects with an estimated gross sales value of RM2bil.

On the group’s other projects, Chan said YNH had recently achieved sales of RM300mil for Menara YNH’s retail podium, which measures 180,000 sq ft.

“The offer from Kuwait Finance House to take up 50% of the office space in Menara YNH is expected to be finalised this year,” he said.

On the Kiara 163 project, located next to Plaza Mont Kiara, Chan said the group had achieved sales of RM200mil for the commercial component measuring 480,000 sq ft.

“We will launch the residential component, comprising serviced apartments, soon as there are a lot of enquiries from the local and overseas market,” he added.

http://farm3.static.flickr.com/2541/3826938820_b3b378feb8_o.jpg

http://farm4.static.flickr.com/3545/3826940222_305b64739a_o.jpg

http://farm3.static.flickr.com/2617/3826941414_cda124f5a1_o.jpg

^^cool!!!....

now we have another project photographer on SSC... syabas

Those are new sign board installed!???!

I still don't understand why the forest there must be cut for this building.
Hard to believe that Foster Partners are ineed the architect.
http://www.fosterandpartners.com/Team/DesignGroups/Default.aspx
Menara YNH is not mentioned anywhere. :ohno:
I don't expect renderings, but at least an evidence that they are working on this project.

I still don't understand why the forest there must be cut for this building.
Hard to believe that Foster Partners are ineed the architect.
http://www.fosterandpartners.com/Team/DesignGroups/Default.aspx
Menara YNH is not mentioned anywhere. :ohno:
I don't expect renderings, but at least an evidence that they are working on this project.

because YNH is one secretive and ahbeng developer lol

Hard to believe that Foster Partners are ineed the architect.
http://www.fosterandpartners.com/Team/DesignGroups/Default.aspx
Menara YNH is not mentioned anywhere. :ohno:


^^ Mayb ynh still owe them some architect fees.

Your mind is too simplistic to gauge the situation.

http://farm4.static.flickr.com/3454/3850859593_bd6b2b1fa1_o.jpg

Meanwhile, it has also sold the retail units in the first phase of Menara YNH, near Shangri-La Hotel in Kuala Lumpur. The units in the retail podium were sold for RM300mil and the company [FONT="Arial Black"]expects to start construction of that in three months’ time.

Analysts, however, were disappointed at a recent briefing when they were informed of a further delay in the sale of one of the twin towers of Menara YNH to Kuwait Finance House. The sale and purchase agreement for that might not be signed till next year, they were told.

next year..... the towers expected to be 45storeys i think.........

Kuwait Finance House calls off deal to buy 50% of Menara YNH
By Racheal Lee of theedegeproperty.com
Tuesday, 15 December 2009 19:45


KUALA LUMPUR: Kuwait Finance House (Malaysia) Bhd has called off the deal to purchase 50% of Menara YNH enbloc from YNH Property Bhd.

In a filing to Bursa Malaysia on Dec 15, YNH said it had been notified in writing by Kuwait Finance House on Dec 15 that the latter will no longer be proceeding with the formalisation of the sale and purchase agreement dated Jan 11 last year.

“As such, the board of YNH Property will consult our legal advisors on all of the options available to our group, including but not limited to specific performance and/or seeking damages from Kuwait Finance House,” it added.

Menara YNH, located on a three-acre land along Jalan Sultan Ismail, is a 45-storey single office tower with two wings on a premier and luxury retail podium. The then total sale consideration was about RM920 million for the purchase of 50%.


I believe Menara YNH project will be postponed and that Norman Foster may no longer be associated with this project




YNH struggles with RM2.1b Foster tower
Published: 2008/10/22

The developer is delaying completion of the RM920 million sale of the first half of the 45-story office development to Kuwait Finance House (Malaysia)

YNH Property Bhd is delaying the sale of part of a RM2.1 billion (US$600 million) tower being designed by Norman Foster as the global credit crisis threatens the Malaysian capital’s biggest commercial property transaction.

The company may scrap plans to raise as much as RM1.2 billion by selling half of the project and is in talks with funds from Singapore, Hong Kong and Japan on a venture to help complete development of the tower, said Daniel Chan, head of corporate services at the Ipoh, Malaysia-based company.

“People are more cautious and want lower pricing,” Chan said in an interview yesterday. “This global problem will definitely affect Malaysia. It would be foolish to say we will be shielded.”

YNH stumbled in attempting to carry out Kuala Lumpur’s biggest commercial transaction as the global credit crisis threatened to tip the world into recession. Malaysia’s government said October 20 it expects slower-than-expected growth next year as the US and Chinese economies cool.


The company is delaying completion of the RM920 million sale of the first half of the 45-story office development to Kuwait Finance House (Malaysia) Bhd, agreed to in January, because of design changes, Chan said.

London-based architecture firm Foster & Partners, which designed the Beijing Capital International Airport’s newest terminal and “The Gherkin” skyscraper in London, was appointed in March to design the Kuala Lumpur tower.

Supply Glut Looms

Malaysian real estate prices may stall as the supply of office space will increase from 2010, said Mervin Chow, an analyst at OSK Research Sdn Bhd.

“A lot of supply will hit the market in Kuala Lumpur, so I’m not to sure whether they can demand a good price by that time,” he said. “Supply is going to come in by the end of this year and the momentum is going to peak by 2011. The dynamics of supply and demand by that time is not going to be favorable for developers.”

There will be an additional 24.8 million square feet (2.3 million square meters) of office space after 2010, compared with existing capacity of 56.8 million square feet, Chow said.

Malaysia Slowing

Malaysia will cut its 2009 economic-growth forecast on November 4, from the current estimate of 5.4 per cent, Finance Minister Datuk Najib Razak said on October 20.

The developer is negotiating with funds that may take a 20 per cent stake in a venture to develop the tower. Investing in a venture will allow the funds to receive earnings from rents while they wait for property markets to recover. They may then sell the building to a real estate investment trust, Chan said.

They “will have the ability to sell the second block to a REIT, that’s what they have proposed to us,” he said. “It’s still in early stages of discussions.”

YNH in January agreed to sell the first half of the development to Kuwait Finance.

The sale will be completed by year-end, later than planned, so the buyers can “make sure everything is right,” Chan said.

The Grade A tower in Malaysia will have a retail podium and two office wings with total lettable space of 1.2 million square feet (111,000 square meters).

Shares of YNH have fallen 54 per cent this year, outpacing the 37 per cent slide in the benchmark Composite Index.

YNH plans to increase 2009 profit by 20 per cent to as much as RM120 million next year, based on RM300 million of sales.

“We are very cautious, we now like to be more conservative in what we are doing,” Chan said. “If we are able to achieve our targets, it will be a bonus for us.” - Bloomberg

better not rely too much on arabs companies...

^^ Actually diaorg ok,tapi they are now much on developing their homeland,especially Jeddah,Makkah and Riyadh,banyak projects sdg berjalan kat bandar2 tu bro...

^^ Actually diaorg ok,tapi they are now much on developing their homeland,especially Jeddah,Makkah and Riyadh,banyak projects sdg berjalan kat bandar2 tu bro...

arabs tengah problem..byk sgt projek mega.duit byk keluar.

so bye2 to dis 1...

KFH backs out of buying Menara YNH for RM920mil
By EUGENE MAHALINGAM
TheStar Biz Headline 16 December 2009

YNH seeks legal option

PETALING JAYA: YNH Property Bhd is seeking legal recourse against Kuwait Finance House (M) Bhd (KFH) for backing out of a commitment to buy a 45-storey office tower worth RM920mil.

YNH told Bursa Malaysia yesterday it had been notified by KFH in writing that the latter would “no longer be proceeding with the formalisation of the sale and purchase (S&P) agreement as per the terms and conditions of the offer letter dated Jan 11, 2008” for the en bloc purchase of Menara YNH, located along Jalan Sultan Ismail, Kuala Lumpur.

“As such, the board will consult our legal advisors on all of the options available to our group, including but not limited to specific performance and/or seeking damages from KFH,” YNH said.

A YNH spokesman told StarBiz the deal “went sour” because KFH wanted to purchase the property at a lower price than initially agreed.

“It was all an issue of pricing. The property market has softened by about 20% since we entered into the agreement nearly two years ago. KFH wanted to buy at a lower price while we wanted to maintain the original value,” he said.

“We’re not going to sell at a cheaper price because the location and yield in the area are good.”

The spokesman said YNH was seeking legal advice from its lawyers and was confident of a positive outcome.

“An option is to sell the property to the highest bidder and claim the difference from KFH. The agreement is legally binding,” he said.

He also said KFH’s decision to pull out of the deal would not have a negative impact on YNH.

“It’s not a problem as we can sell it to other parties. We have had a lot of interest in the tower.”

He said preliminary earthworks had commenced at the project site and actual construction was expected to begin in a few months.

YNH head of corporate services Daniel Chan was quoted in a news report in August that the deal with KFH “is basically firmed up” although the S&P agreement had yet to be signed.

“As far as we are concerned, the signing of documents is just a formality,” he said.

An analyst from a local bank-backed brokerage said that while the property market had softened, it should not have an impact on YNH.

“The economy is already on the upturn and property prices will also be on the uptrend. The yields in the area are also good and the company can always find other buyers,” he said.

KFH offered to purchase a 50% interest in YNH Land Sdn Bhd’s proposed 45-storey office tower in early 2008. YNH Land is a unit of Kar Sin Bhd, which in turn is a wholly-owned subsidiary of YNH Property.

In a previous note to Bursa, YNH said the office tower was located in the Golden Triangle area where “most prestigious five-star hotels and upmarket office spaces” were located, with easy accessibility and close proximity to efficient public transport facilities like the Putra light rail transport and KL monorail stations.


I guess with legal stuff involve it will take many years before this project could start

RIPlah this project the lot has changed ownership at least 3 times in the last 30 years!!!

ini developer boleh percaya ke?

sure boleh percaya punya....their projects kat mont kiara semua jln lancar.....

KFH: ‘No legally binding’ pact to buy YNH's RM920mil property
By EUGENE MAHALINGAM


PETALING JAYA: Kuwait Finance House (M) Bhd (KFH) has refuted YNH Property Bhd’s claim that it is in a legally binding agreement with the latter and can be made liable for backing out of a deal to purchase Menara YNH, a 45-storey office tower worth RM920mil.

In a statement yesterday, KFH said there was “no legally binding agreement” with the Ipoh-based developer because neither party had committed to signing a sale and purchase agreement.

“A conditional letter of offer was executed between KFH and YNH but the sale and purchase agreement was not executed as the conditions stipulated in the conditional letter of offer which included the necessary approvals from KFH’s board of directors, shareholders and/or committees were not obtained,” it said.

It added that both parties had had “several discussions and meetings thereafter” to agree on a revised structure so as to meet the those conditions.

“As both parties were unable to agree on a revised structure and terms of the sale, KFH has decided not to proceed with the purchase of the said Menara YNH.

“We may review our decision in the future, should we be able to find a viable structure to enable us to participate in the sale transaction,” KFH said.

KFH had offered to buy a 50% interest in YNH Land Sdn Bhd’s Menara YNH early last year. YNH Land is a unit of Kar Sin Bhd, which in turn is a wholly owned subsidiary of YNH Property.

YNH told Bursa Malaysia on Tuesday that it had been notified in writing by KFH that the latter would no longer be proceeding with the formalisation of the sale and purchase agreement.

In the same note to Bursa, YNH said it was seeking legal advice on the matter.

“As such, the board will consult our legal advisers on all of the options available to our group, including but not limited to specific performance and/or seeking damages from KFH,’’ YNH said.

Meanwhile, analysts expect the YNH-KFH deal to fall through but it would not have any impact on YNH’s earnings.

ECMLibra Investment Research said in a note that the news was “not surprising”.

“The partial sale of Menara YNH had been widely expected to fall through following long and protracted negotiations since the offer letter was signed on Jan 11, 2008.

“Nevertheless, the positive thing we can see from this turn of events is that the uncertainty of the sale to KFH has finally been drawn to a close,” it said.

The research house said it was making no revision to its earnings estimate as it had already disregarded the earnings contribution from the sale to YNH.

RHB Research in its report said the deal falling through was “not a surprise to us”, and added that it was not revising its earnings forecast for the developer.

An analyst said YNH would have no problem finding another buyer for the tower, albeit at a lower selling price than the RM920mil KFH had agreed to.

Menara YNH, which is yet to be built, will be located in Jalan Sultan Ismail, Kuala Lumpur. Selling prices in the area have nosedived 20% to 25% since the offer by KFH.

“The economy is already improving but we expect flattish growth for the property sector in 2010. It would take a while for property prices to match the levels they were at in the last quarter of 2008,” an analyst said.

Zerin Properties chief executive officer Previndran Singhe concurred that YNH would have no problem finding a buyer for Menara YNH, adding that prices of properties within the area were showing signs of improvement.

“Property prices may reach last year’s levels by end-2010. But by 2011, there should be no problem for YNH to sell at a higher price (than what was offered by KFH),” he said.

New homepage in the making
http://ynhb.com.my/

New homepage in the making
http://ynhb.com.my/
:lol::nuts:

ini developer boleh percaya ke?

:lol:Some of the other projects by this company for sure no problem but this one
is different i suspect they need the JV badly:ohno:If not long time ago they startedlah:nuts:

YNH may revise tower project
By Sharen Kaur
Published: 2009/12/28





PROPERTY developer YNH Holdings Bhd (3158) may revise the proposal to build a 45-storey Grade A office building in Jalan Sultan Ismail, Kuala Lumpur, after Kuwait Finance House (M) Bhd (KFHMB) aborted plans to buy part of the property.

The proposed YNH Tower was to have featured two wings on a luxury three-level retail podium. The development would take up 1.2ha next to the Shangri-La Hotel.

Changes to the original plan may be made after KFHMB decided against buying one of the wings for RM926 million.

YNH's head of corporate services, Daniel Chan, said it has received more than five offers from investors in Malaysia, Europe, Singapore and Hong Kong since the KFHMB deal was aborted. They include property and pension funds, private equity and real estate investment trusts, which want to buy the whole block.
"If they offer us a good price, we will sell them the whole block. Otherwise, we are in no hurry to sell. We aim to sell the first wing for more than RM926 million, and the second wing for around RM1.2 billion," Chan told Business Times.

YNH optimistic of projects
By Sharen Kaur Published: 2009/12/30

PROPERTY developer YNH Holdings Bhd plans to launch two luxury projects, worth a combined RM1.6 billion, in Kuala Lumpur next year.

Its head of corporate services, Daniel Chan, said the company was optimistic of good response, given the product offering and location.

The Ipoh-based developer targets to launch Fraser Residence in Jalan Sultan Ismail and Kiara 163 in Mont'Kiara in the first quarter and second half respectively.

Fraser Residence willl comprise 450 condominium units. Kiara 163, located next to Plaza Mont'Kiara, will feature 580 condominium units, a four-storey mall and a 28-storey office tower.

"We are confident of the two launches as the location of our properties is very strategic. At the end of the day, it's all about location, location and location," Chan told Business Times.

The projects will keep YNH busy for the next five to eight years.

Other projects on hand include its bread-and-butter 400ha Sri Manjung township in Perak, which is expected to last the company for 20 years.

"We will launch new phases next year at the township to keep up with demand, thanks to new developments taking place," Chan said.

He cited the iron ore plant in Teluk Rubiah proposed by Brazil's Vale International SA, the world's second largest diversified metals and mining company.

Chan also expects sales to improve because of developments at Kencana Petroleum Bhd's fabrication yard in Lumut and the Lumut Naval Base.

"We will focus on a few developments and not overexpose ourselves. We have a low gearing of 0.3 time and want to keep it at that.

"We have cash of RM100 million coming in soon from Ceriaan Kiara and Fraser Place KL and will use some of it to fund our new projects."

Chan is confident of YNH posting profits in its fiscal year ending December 31 2009.

He said that while earnings may dip slightly this year, 2010 net profit and revenue are expected to surpass 2008 results owing to the bigger developments coming up as well as sales from existing projects.

Last year, YNH made RM86.8 million net profit on revenue of RM350 million.

2 new projects form YNH in 2010(well hopefully!!)
Kiara 163
http://biz.thestar.com.my/archives/2008/11/24/business/b_09kiara.jpg
http://www.skyscrapercity.com/showthread.php?t=626610

Fraser Residence
http://www.frasershospitality.com/images/pressroom/pr_119.jpg
http://www.skyscrapercity.com/showthread.php?t=822004&highlight=fraser+place

^^ fraser tue sebelah kedutaan pakistan ?

^^ fraser tue sebelah kedutaan pakistan ?

http://farm4.static.flickr.com/3424/3302819544_eae510342d_o.png
must be around here...rasanya Lot 119/129

- edit

Work on Menara YNH to start in 6 months
By ANGIE NG


Current amendments to boost tenant space by 15%

PETALING JAYA: YNH Property Bhd expects within the next six months to start work on its proposed Menara YNH project on three acres next to the Shangri-La Hotel along Jalan Sultan Ismail, Kuala Lumpur.

Although Kuwait Finance House Bhd (KFH) had two weeks ago aborted its plan to purchase one of the two office blocks at Menara YNH, YNH said it would proceed with building the project.

KFH had early last year offered to buy a 50% interest of the office component of Menara YNH from YNH Land Sdn Bhd. YNH Land is a unit of Kar Sin Bhd, which in turn is a wholly-owned subsidiary of YNH Property.

YNH head of corporate strategy Daniel Chan said the company was currently making some amendments to the project design to improve efficiency of tenant space by 10% to 15%.


The green project, built according to specifications of the Green Building Index, will have total net lettable space of 1.5 million sq ft.

“We will be resubmitting the amended project plan for approval. The development order was obtained last December,” Chan told StarBiz.

Chan said the project was within the company’s target and would be completed in five years.

The project will have two 45-storey office blocks with 600,000 sq ft of net lettable space each to be built on top of a three-storey retail podium.

The gross development value (GDV) of Menara YNH will be around RM2bil or averaging about RM1,500 per sq ft.

Chan said work on the retail podium would kick off first and would be completed within three years.

A group of local and foreign investors had early last year signed a sale and purchase agreement for the 300,000 sq ft of retail space for RM300mil.

On whether the company was looking for other buyers for the other parts of the project, Chan said: “We are not in any hurry to sell unless a good offer turns up. So far, we are talking to a few interested parties. With the strategic location of the property, we are confident of good interest and sealing a good deal.”

YNH would keep its options open, he said, adding that various parties had offered to team up as joint-venture partners for the project or buy over the property.

“We are optimistic of the project as its value has appreciated. When the project was first mulled three to four years ago, its GDV was only RM1bil but, today, its value has doubled,” he said.

Before KFH, CapitaLand Ltd of Singapore had more than two years ago agreed to a 40% share in a joint venture with YNH for the project but the deal fell through over disagreement in the land cost.

On prospects ahead for YNH, Chan said the Sitiawan-based property company had projects worth RM11bil over the next 15 to 20 years, and YNH also had unbilled sales of RM856mi from its existing projects that would be realised over the next three years.

This year, the company has lined up project launches worth some RM3bil, including Menara YNH.

The Fraser Residence KL mixed development, comprising serviced apartments, office and retail space, behind Renassisance Hotel with a GDV of RM550mil will be launched in June.

Another mixed development, the RM900mil Kiara 163 (formerly known as D’Kiara Place) located beside Plaza Mont’Kiara, will also have serviced apartments, office and retail components.

Chan said another prime project to look out for would be located on 100 acres near Resort World in Genting Highlands. The mixed development with a GDV of RM2bil will be launched in 2011 for completion in 10 years.

For the financial year ended Dec 31, YNH’s earnings should take a hit from the slow property market and deferment of project launches caused by the global financial crisis.

“Next year (2010) should be a better year and we certainly look forward to a double-digit growth,” Chan added.

Enough already YNH if they going ahead with that ugly boxy looking building.They might as well KIV this one.Being one of the last lot along jalan sultan ismail unless come up with something really different dont bother.

If there is something happening in 6 Months, I belanja everyone here :cheers:

If there is something happening in 6 Months, I belanja everyone here :cheers:

hahahaha...we'll see u in June :lol:

If there is something happening in 6 Months, I belanja everyone here :cheers:

u seeerious? haha i want to belanja-ed!!

Hahaha, whatever lah.
I'm sure nothing will happen with Menara YNH by June. These clowns don't even manage to have a proper web page nor is this listed on the Foster Partners page :bash:

1st proposal
http://img149.imageshack.us/img149/9550/ynh38cc.jpg

2nd proposal
http://biz.thestar.com.my/archives/2007/1/26/business/b_p2capitaltower.jpg

3rf proposal
http://farm3.static.flickr.com/2482/3930407987_04bedf0cc9_b.jpg

final proposal from Norman Foster
http://farm4.static.flickr.com/3408/3615627045_66296417da_o.png

1st n 2nd-cool, 3rd - ugly...and 4th hmmm oklo

i think there' a new proposal for this...... dont think is de normon foster one....

Surely uncle norman can do better than thatlah is like ave k and wisma denmark stack together!Like i said its only one of the last lot along sultan ismail,taking advantage of the to 2 stations being bukit nanas and dang wangi. surely they must come up with something different to bring that area to life even on the weekends.

Surely uncle norman can do better than thatlah is like ave k and wisma denmark stack together!Like i said its only one of the last lot along sultan ismail,taking advantage of the to 2 stations being bukit nanas and dang wangi. surely they must come up with something different to bring that area to life even on the weekends.
Oklah, but is it necessary to sacrifice a junk of rainforest at Bukit Nanas for the sake of yet another Office cum Shopping complex?

Oklah, but is it necessary to sacrifice a junk of rainforest at Bukit Nanas for the sake of yet another Office cum Shopping complex?

maybe it will not involve Bukit Nenas but just a small portion of land where the petrol station/restaurant now stand....

Greg that particular lot has got long history!Once upon a time ago when concord hotel was merlin hotel mind only the second hotel besides federal hotel in bukit bintang there was a school up the hill!!!F I T if i am not mistaken so its never part of the so called forest reserve of bukit nanas.It only looks like it is because the owner let it be a new hutan.Mind u the ownership has change hands at least 3 times in the last 30 years.

Greg that particular lot has got long history!Once upon a time ago when concord hotel was merlin hotel mind only the second hotel besides federal hotel in bukit bintang there was a school up the hill!!!F I T if i am not mistaken so its never part of the so called forest reserve of bukit nanas.It only looks like it is because the owner let it be a new hutan.Mind u the ownership has change hands at least 3 times in the last 30 years.

True... it's quite a large piece of land and it's not part of bukit nanas at all.... just compare menara haw par

:ohno::ohno::ohno:

YNHC receives summons from IRB
By Siti Radziah Hamzah theedgeproperty.com
Monday, 25 January 2010 20:21

KUALA LUMPUR: YNH Construction Sdn Bhd (YNHC), a wholly-owned subsidiary of YNH Property Bhd, has been served with a writ of summons and statement of claim by the Inland Revenue Board (IRB) for back taxes for the year of assessment 1999 amounting to RM998,678.38.

In a filing to Bursa Malaysia on Jan 25, YNH Property said the IRB are further seeking penalties amounting to RM154,795.14 for late payment of the above said taxes.

“YNHC will be entering its appearance vide its solicitors, Messrs Raja, Daryl and Loh, to contest the claims,” said YNH Property.

YNHC has previously appealed against the income tax assessment raised for the year of assessment 1999 and the Special Commissioners of IRB have set Nov 1 and 2, 2010 as the hearing dates.

hahahaha...we'll see u in June :lol:
2 more weeks until June......

Surely uncle norman can do better than thatlah is like ave k and wisma denmark stack together!Like i said its only one of the last lot along sultan ismail,taking advantage of the to 2 stations being bukit nanas and dang wangi. surely they must come up with something different to bring that area to life even on the weekends.

u never know.. YNH probably on budget.. soo cutting the cost of expensive design and asked for somethin decent and from a great architect like normans name on it.. u get a bargain~ lol! :lol:

^^ Hahaha true,its hard to get a simple design by Norman Foster,cause normally his designs are world renown and aint really plain.

The reason Foster is involve here i think coz their client Kuwait Finance House wants a "iconic" stuffs....

Since the deal is aborted, there's no sign that Foster is still involved in this project.

the website sudah hilang or maybe u/construction

the website sudah hilang or maybe u/construction

Their punya webpage u/c since many months. :bash:
Is June now? Seen any bulldozers around Bukit Nanas area? They claim construction start within 6 months in december or january. Bodoh.

^^wah mr greg u can speak bahasa malaysia meh?? good good hehe!!

^^wah mr greg u can speak bahasa malaysia meh?? good good hehe!!

I try.. :D

Alamak...:lol:

Its amazing and Tahniah to Greg! (tahniah = congrats)

I tot this project is cancelled for now?? No buyer lah.....

The arabs pulled a quick one on them!!!At the very last minute ha ha

New design???
http://www.ynhb.com.my/v3/biz_property_kl_menara_ynh.html

^^ not bad...

New design???
http://www.ynhb.com.my/v3/biz_property_kl_menara_ynh.html

single building?
http://www.ynhb.com.my/v3/images/biz/menaraYNH.jpg

^^ Quite nice though,but wish it was taller...

wish its taller...50storey++

Their homepage now after 1 year (!) in the making online
http://www.ynhb.com.my/

Kiara 163 nice

Offline again :wtf:

YNH plans to launch RM3.7b worth of properties
By Chong Jin Hun of The Edge Financial Daily
Thursday, 16 December 2010 16:29

KUALA LUMPUR: YNH Property Bhd has lined up some RM3.7 billion worth of upmarket real estate launches in the coming financial year and plans to increase property sales by 20% a year over the next three fiscal years.

Daniel Chan, head of corporate services, said YNH's growth will also be supported by its estimated RM700 million worth of unbilled property sales which can sustain its earnings for two years.

"It [20% increase] should not be a problem," Chan told The Edge Financial Daily in a telephone interview. He declined to reveal the value of property sales YNH hoped to achieve in the current year ending December, only indicating that "FY10 property sales are good".

Chan said the developer has no immediate plans to acquire more land as its undeveloped landbank, measuring some 720ha, is sufficient to sustain earnings for the next 30 years.

YNH's upcoming launches are located on prime tracts in Kuala Lumpur. These include Menara YNH, with an estimated gross development value (GDV) of RM2 billion on a 1.2ha freehold site in Jalan Sultan Ismail, and Fraser Place serviced apartments, with GDV of nearly RM700 million, near Jalan Ampang.

In Mont'Kiara, YNH is developing the RM1 billion Kiara I63 mixed development, located beside Plaza Mont'Kiara. Chan said construction on Fraser Place had begun, and work on the other two projects is scheduled to start within six months.

The troubled development of Menara YNH will be closely watched. Chan said YNH could undertake the 45-storey commercial tower job on its own, or engage a strategic local or foreign partner to jointly develop the property, scheduled to be unveiled mid-next year.

"We are waiting for the right time to launch in order to achieve the full potential of the project," he said.

YNH made the news in January 2008, when it announced that Kuwait Finance House (Malaysia) Bhd (KFH) was purchasing a 50% interest in Menara YNH for RM920 million.

The sale, involving an area of 750,000 sq ft, worked out to some RM1,230 per sq ft. The price was about 10% higher than the RM1,120 per sq ft KFH and local property investor Prestige Scale Sdn Bhd paid for the 36-storey Glomac Tower in the Kuala Lumpur City Centre.

The remaining half of Menara YNH was to be sold to foreign buyers. YNH stood to rake in some RM1.84 billion from the disposal of the entire building.

The sale to KFH, however, failed to materialise. Last December KFH informed YNH that it would not proceed with the formalisation of the sale and purchase agreement based on the terms and conditions of the offer letter in January 2008.

YNH had originally planned to jointly develop the tower with Singapore real estate heavyweight CapitaLand Ltd. The two parties had signed a memorandum of understanding in December 2006 to jointly build the tower on a 60:40 basis.

But in June 2007, the YNH-CapitaLand collaboration was terminated, as certain conditions under the MoU were not met.

Construction of the building, initially valued at around RM800 million, was originally slated to begin in mid-2007 and complete by end-2011.

ECM Libra Investment Bank Bhd, in a research note dated May 5, 2010, indicated that YNH was talking to a potential foreign investor, which would acquire the tower and own up to 30% equity interest in the development.

the latest rendering for MENARA YNH came out in last week's NST Property section........

Expected to start in June 2010?

hows the latest rendering? any good....but its already MARCH 2011!!! :nuts:

the latest rendering for MENARA YNH came out in last week's NST Property section........

Expected to start in June 2010?

hows the latest rendering? any good....but its already MARCH 2011!!! :nuts:

a tall squarish box... :lol:

hows the latest rendering? any good....but its already MARCH 2011!!! :nuts:

Normal squarish white-ish design...

Thread title will be changed.

Menara YNH to be launched this year after delay
By Chong Jin Hun of theedgeproperty.com
Tuesday, 24 May 2011 17:00

KUALA LUMPUR: YNH Property Bhd plans to launch properties with a gross development value (GDV) of RM5 million this year, including the delayed Menara YNH project in Jalan Sultan Ismail. Daniel Chan, head of corporate services, said YNH is currently in talks with various parties on a potential joint venture to develop the project.

Menara YNH, with a current estimated GDV of RM2.1 billion, is seen as a major catalyst to YNH's bottom line growth. The project has been delayed several times since 2006, as deals with two perspective buyers terminated in the past. But market observers said with the property sector heating up again the project may see a chance of revival.

YNH had originally tied up with Singapore property giant CapitaLand Ltd for the project. The two companies signed an MoU in December 2006 to jointly develop Menara YNH on a 60:40 basis. Construction was originally slated to begin in mid-2007 with completion by end-2011. But in June 2007, the MoU was terminated.

Then in January 2008, YNH announced that it would sell half of the Menara YNH project to Kuwait Finance House (KFH) for RM920 million. The sale involved an area of 750,000 sq ft at a price of RM1,230 psf, which at that time set a new record as it was about 10% higher than the record price commanded by the 36-storey Glomac Tower nearby.

KFH was supposed to take up half of the building with the rest to be sold to other buyers. YNH received RM1.84 billion in total proceeds from selling the entire project. But the KFH sale fell through due to the global financial crisis. In December 2009, KFH informed YNH that it would not proceed with the formalisation of the sale and purchase agreement.

Chan said Menara YNH would be now launched in different components — starting with the retail portion, followed by the serviced apartments and offices. Note that the price of the land has appreciated significantly to more than RM2,000 per sq ft, compared with the acquisition price of about RM400psf paid by YNH. In addition, its current estimated GDV of RM2.1 billion is also about 14% higher than the deal previously entered into with KFH.

Chan said YNH is keeping its options open for now on whether it would sell the tower en bloc or on a strata title basis, depending on demand. According to a note accompanying the company's 1Q results, YNH said it had intended to keep 50% of Menara YNH as an investment property and it would be used as the company's future corporate headquarters. But Chan said, "If we get a good price, we may sell everything."

Menara YNH forms almost half of YNH's estimated RM5 billion worth of property launches this year. Another of the company's major launches is the RM1.2 billion "Kiara 163" mixed project, located beside Plaza Mont'Kiara.

So far this year, YNH has launched RM650 million worth of serviced apartments at its "Fraser Residence" project in Jalan Ampang and Jalan Sultan Ismail, and about RM300 million worth of properties at its Seri Manjung township project in Manjung, Perak.

Analysts said YNH's net profit could grow more than 50% annually in FY11/12 ending December, in line with the quantum of property launches and the recognition of sales in the company's books. In FY10, YNH's net profit rose 10% to RM56.96 million while revenue was up 2% to RM252.13 million. YNH on Monday reported 1QFY11 net profit of RM15.8 million and revenue of RM55.3 million.

Estimates by analysts polled by Bloomberg indicate that YNH's FY11 net profit could surge 34% to RM76.58 million while revenue may rise 39% to RM351 million. Net profit and revenue in FY12 are expected to reach RM97.83 million and RM506 million. In a recent report, Hong Leong Investment Bank said it expected YNH to register a strong set of results in FY11/12 with earnings growth at between 37% and 51% in the two-year period. The projection takes into account YNH's RM1 billion worth of unbilled sales from Kiara 163, Fraser Residence and the Seri Manjung township, besides the remaining GDV of RM1.1 billion for Kiara 163 and Fraser Residence.

"Note that our FY11 to FY13 earnings estimates do not factor in contributions from Menara YNH, or future projects from the Duta Nusantara area. However, management still hopes to launch the RM300 million retail portion of Menara YNH in the second half of 2011," Hong Leong said.

Shares of YNH closed unchanged at RM1.96 on Monday, May 23.

On Lot 1077, Section 57, Kuala Lumpur


http://ynhb.com.my/v3/biz_property_kl_menara_ynh.html

This project has been revised.... i think they are now building a few tall towers with a MALL.

Will begin soon... :lol:

yeah KL desperately need another mall!!!
I hope they stick with their original plan, but YNH
is very slow with this one.

perhaps it is just a retail podium. Personally i don't think building a mall there can draw crowd.

2 towers of 50 storeys???

and a retail podium

The best indication that this project is a go for sure is the day they relocate/reroute the main paip to the water treatment plant up the hill:)Until then its all mumbo jumbo trying to find a investors by the owner:lol:

2 towers of 50 storeys???

and a retail podium

hope this goes through... otherwise the height will be revised downwards..

nothing yet??

nothing yet??

YNH is so slow....

The Edge Weekly May 13-19, 2013:

Planned office tower and shopping mall project with almost 100m frontage on Jalan Sultan Ismail.

http://img211.imageshack.us/img211/5062/ynhedge.jpg