Mah Sing to develop commercial centre in KL
By Chong Jin Hun
jinhun@nstp.com.my


July 28 2007


MAH Sing Group Bhd will develop some RM256 million worth of commercial real estate on its newly-bought land in Kuala Lumpur, capitalising on the shortage of offices in the area.
The two freehold parcels with a combined area of 2ha opposite Wisma Mah Sing along Jalan Sungai Besi were acquired from Nichii Fashion Sdn Bhd for RM52 million or RM250.90 a sq ft, the company said in a statement yesterday.



Mah Sing's planned "Southgate Commercial Centre", its third commercial job in the Klang Valley, may be partially retained by the developer.



It includes a medium-rise office tower, and a retail portion. The multi-storey shop offices, and duplex office suites will have built-ups from 12,000 sq ft.



A 1,750 sq ft office floor, is priced from an indicative RM650,000, or RM371 a sq ft. The project, to be sold on a strata basis, is due for completion in three years.



"There is demand for commercial properties in Kuala Lumpur due to higher rental yields, and potential capital appreciation.



"We may sell or keep some (of Southgate's commercial units)" Mah Sing group managing director Datuk Leong Hoy Kum told Business Times.



Rentals for commercial units in Kuala Lumpur may yield up to 12 per cent in annual returns, double the estimated six per cent for residential entities, according to Leong.



Mah Sing's latest land purchase, its second so far this year, came a month after it spent RM115.8 million for 35ha in Penang.



Earlier commercial projects by the company, also a plastic products maker, include the "The Icon"- branded offices at Jalan Tun Razak, and Mont Kiara.



Mah Sing had on Thursday sold one of the two planned towers for The Icon at Jalan Tun Razak for RM174.4 million to Koperasi Permodalan Felda Bhd. It will lease back the building from the buyer.



"The enbloc-sale agreement enables Mah Sing to immediately lock in significant amount of property sales, therefore, improving its future earnings visibility," SJ Securities Sdn Bhd analyst Chaw Sook Ting said in a note.



Mah Sing's first quarter to March 31 2007 net profit rose 20 per cent to RM17.9 million or 10.6 sen a share from a year ago. Revenue grew 52 per cent to RM141.6 million.



SJ Securities rates Mah Sing shares an "Overweight" with a target price of RM3.12 based on a forward price-earnings ratio of 16 times.



Mah Sing shares dipped 0.9 per cent or two sen to close at RM2.26 for a market capitalisation of RM1.4 billion yesterday.



The stock's price had so far this year gained 75 per cent compared with the broader market's 24 per cent rise.


gdp resorts ge barclays sime aminvest icbc dbs avenue acision vads mswg sapura caely tm bnm ifca crest mnrb tanjong maskargo reits opr ceo honda amd bear toshiba projet siemens wimax harbour compass sony lcl reit exxon sapuracrest intel melatiehsan nissan banking readsoft ups uem amanah synergy mrcb lng ijm ghope fta tmc tactician petra power marketing cgc hyundai glcs rhbcap carbon amanahraya crocs dialog palmoil e&e apple proton interpacific rbland maakl takaful donuts celcom petronas klci co-op orisoft ntv7 smidec ekovest edible hkbourse mahsing bursa maybank meridian aseam europlus emirates oilfield etihad aluminium u-li ranhill bharti shell rhbislamic halal vw bhp stanchart axis sia gateways dallab panasonic mas oil spsetia e&o comintel maa matrade cimb boeing cpo rupee mtouche eon uda tech jetstar time rakyat

haha rendering please......

Mah Sing plans RM256m project
Updated : 27-07-2007
Media : The Edge


KUALA LUMPUR: Mah Sing Group Bhd plans to undertake a RM256 million project, called Southgate Commercial Centre, along Jalan Tun Razak.

It announced on July 27 that the project would be build on 1.92-ha freehold land which it was acquiring for RM52 million or RM250.90 per sq ft from Ninchii Fashion Sdn Bhd.

Mah Sing group managing director Datuk Leong Hoy Kum said the company was targeting corporate and high-end customers, including professionals, investors and entrepreneurs for the Southgate Commercial Centre.

¡§With the prime address and easy accessibility, law firms, consultancies and advertising agencies are just a few of the professions which could set up office here,¡¨ he said. It was also seeking to attract niche boutiques and specialty stores.

Southgate Commercial Centre, modelled after the Xintiandi success story in Shanghai, was conceptualised as an integrated commercial and leisure hub and is expected to be completed in three years.

With its Southgate Commercial Centre, Mah Sing has 14 development projects with a total gross development value (GDV) of RM3.726 billion.

Together with its unbilled sales of RM430 million as at March 31, 2007, the total GDV of RM4.156 billion would ensure earnings visibility for the company for over seven years.

Southgate Commercial Centre was the company¡¦s third commercial development in Kuala Lumpur after its Grade A office development in Jalan Tun Razak and its integrated lifestyle development offering office suites enclosed by a resort style plaza in Mont¡¦ Kiara.

Mah Sing land buy seen as favourable

By CHAN CHING THUT

PETALING JAYA: Mah Sing Group Bhd’s recent acquisition of land fronting Jalan Sungei Besi is seen as a favourable move as relatively large tracts of commercial land for development near the Kuala Lumpur city centre have become scarce.

The property player will turn the 4.76-acre site into Southgate Commercial Centre, with a gross development value of RM256mil.

The company told Bursa Malaysia last week it expected good response for the project, due to shortage of well-planned and modern business parks in Kuala Lumpur.

CIMB Research analyst Terence Wong said although the acquisition price of RM52mil, or RM251 per sq ft, was not cheap, it was reasonable due to the strategic location and recent rise in value of the city’s commercial properties.

“We like the innovative concept that Mah Sing has in mind (which is modelled after Shanghai’s major tourist attraction Xin Tian Di) and we believe there will be many takers for such properties,” he said in a report.

Wong raised Mah Sing’s earnings forecasts for financial years ending Dec 31, 2008 (FY08) and FY09 by 10% to 15% as contribution from Southgate would be significant and flow through from FY08 to FY10.

“We increase our target price from RM2.71 to RM3 as we continue to value it at the sector average calendar year 2008 price-to-earnings ratio of 16 to 17 times.

“The stock remains a ‘buy’ and re-rating catalysts include further value-enhancing land bank acquisitions and accelerating earnings growth,” he added.

Citi Investment Research analyst Penny Yaw said the price of the land was “fair” as RM250.80 per sq ft was within the range of some smaller land parcels transacted in 2006 around that area.

The project will be launched by year-end and Citigroup expects maiden contribution to kick in next year.

“Assuming revenue of RM54.8mil and RM85.8mil for FY08 and FY09 respectively, and an earnings before interest and tax margin of 35%, we have increased earnings per share (EPS) for FY08 and FY09 by 14.8% and 19.7% respectively.

“In line with upward revision in earnings, we have raised our target price to RM3.10 based on 18 times of EPS for FY08,” she said.

Standard & Poor’s said taking into account Mah Sing’s new developments (including the sale of one block of The Icon to Koperasi Permodalan Felda Bhd), its 2008 net profit projection was enhanced by 10.9% while this year’s numbers remained unchanged.

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i like it! :cool:

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i wonder wat kinda store will open there? furniture and electrical store? maybe more caffes, restaurents and gym..

Mah Sing: All components in Southgate for sale
BY Jeeva Arulapalam Published: 2008/01/27


The developer has received enquiries from buyers in Singapore, the Middle East and the UK for en bloc sales of the main corporate building and Apex block under its Southgate development

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PROPERTY developer Mah Sing Group Bhd says all components of its RM256 million Southgate Commercial Centre on Jalan Tun Razak, Kuala Lumpur, are for sale.

Mah Sing will continue to sell its developments and only retain properties for investment when it decides to set up a real-estate investment trust, said deputy chief operating officer Andy Chua.

He said the group has received enquiries from buyers in Singapore, the Middle East and the UK for en bloc sales of the main corporate building and Apex block under its Southgate development.

"The price range for the corporate building varies from RM700 to RM750 per sq ft with lettable area of 218,000 sq ft," he told Business Times in an interview.

The Apex block will be priced between RM600 and RM650 per sq ft for lettable area of 90,000 sq ft.

The three remaining blocks of the development, namely Vox, Vivo, and Verve, will offer 226 office suites and 63 retail lots.

Prices for office suites (range from 592 to 1704 sq) start at RM430 per sq ft, while prices for retail lots (535 to 2095 sq ft) begin from RM800 per sq ft.

The group, through its wholly-owned subsidiary Jastamax Sdn Bhd, bought two freehold parcels with a combined area of 2ha opposite Wisma Mah Sing from Nichii Fashion Sdn Bhd for RM52 million last July.

Inspired by Xintiandi in Shanghai, Southgate is an integrated commercial and leisure hub that will commence development next month and will be completed 36 months thereafter.

Southgate is Mah Sing's third commercial development in Kuala Lumpur and expected to rejuvenate the surrounding areas including Pudu, Sungei Besi and Loke Yew.

"We will have exciting gourmet restaurants and alfresco cafes to create that ambience of sitting down and having a drink under the stars," said Chua.

Mah Sing: All components in Southgate for sale
BY Jeeva Arulapalam Published: 2008/01/27


The developer has received enquiries from buyers in Singapore, the Middle East and the UK for en bloc sales of the main corporate building and Apex block under its Southgate development

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PROPERTY developer Mah Sing Group Bhd says all components of its RM256 million Southgate Commercial Centre on Jalan Tun Razak, Kuala Lumpur, are for sale.

Mah Sing will continue to sell its developments and only retain properties for investment when it decides to set up a real-estate investment trust, said deputy chief operating officer Andy Chua.

He said the group has received enquiries from buyers in Singapore, the Middle East and the UK for en bloc sales of the main corporate building and Apex block under its Southgate development.

"The price range for the corporate building varies from RM700 to RM750 per sq ft with lettable area of 218,000 sq ft," he told Business Times in an interview.

The Apex block will be priced between RM600 and RM650 per sq ft for lettable area of 90,000 sq ft.

The three remaining blocks of the development, namely Vox, Vivo, and Verve, will offer 226 office suites and 63 retail lots.

Prices for office suites (range from 592 to 1704 sq) start at RM430 per sq ft, while prices for retail lots (535 to 2095 sq ft) begin from RM800 per sq ft.

The group, through its wholly-owned subsidiary Jastamax Sdn Bhd, bought two freehold parcels with a combined area of 2ha opposite Wisma Mah Sing from Nichii Fashion Sdn Bhd for RM52 million last July.

Inspired by Xintiandi in Shanghai, Southgate is an integrated commercial and leisure hub that will commence development next month and will be completed 36 months thereafter.

Southgate is Mah Sing's third commercial development in Kuala Lumpur and expected to rejuvenate the surrounding areas including Pudu, Sungei Besi and Loke Yew.

"We will have exciting gourmet restaurants and alfresco cafes to create that ambience of sitting down and having a drink under the stars," said Chua.


Mah Sing project draws foreign interest

By RACHAEL KAM

MAH Sing Group Bhd, which is actively involved in commercial developments, is in talks with three potential foreign buyers for en bloc sale of two of the five blocks in its Southgate Commercial Centre in Kuala Lumpur.

It has begun talks early this month with buyers from London, Singapore and the Middle East, who are keen to purchase the seven-storey 900,000 sq ft Apex Block.

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The company has also started to approach buyers for the en bloc sale of the main block called Corporate Building, an eight-storey building with 218,000 sq ft built-up area. It fronts Jalan Tun Razak/Jalan Sungei Besi.

The Corporate Building and Apex have a floor plate of about 26,000 sq ft and 16,000 sq ft respectively

The freehold development's five blocks are called Corporate Building, Apex, Vox, Vivo and Verves.

Deputy chief operating officer Andy Chua said the company had yet to decide who would be the buyer.

“Talks are still going on. We will accept the best terms. We are not in a hurry to close the deal, as we are still fine-tuning.

“We hope to firm up the development plans, layout, concept and specification of the project by Chinese New Year,” he told StarBiz.

Chua said there were many corporate investors, including REIT funds and financial institutions, who had shown interest in the Corporate Building.

He said the company had not firmed up the selling price for both blocks but the Corporate Building might be selling at RM700-RM750 per sq ft while Apex at RM600-RM650 per sq ft.

The Corporate Building and Apex block have a floor plate of about 26,000sq ft and 16,000 sq ft respectively.

Its other three blocks has a total of 226 office suites with built-up area from 592 to 1,704 sq ft and 63 retail lots with built-up area of 535 to 2,095 sq ft. The office suites are priced from RM430 per sq ft while the retail lots are from RM800 per sq ft.

Chua said a selling point of the project was that it would be an eye-catching building and that a company could put up its corporate name in front.

Southgate was opened for registration for a month from mid-January and would be launched in March.

Chua said Southgate would be ideal for smaller companies that did not need big office space. Hence its office suites are targeted at companies like consultancy, architectural and advertising firms.

“Previously, small and medium-sized companies could only lease a property in the city centre because all buildings are office towers and they could not afford to buy office towers,” he said, adding that it was better to own an office instead of renting and be subjected to fluctuations in rental rates.

“Rental rates will go up very high if the leasing market is good. This would cause problems when a company is forced to move its office elsewhere that has cheaper rental,” he added.

The 4.76-acre Southgate, with a gross development value of RM256mil, was inspired by the Xintiandi development in Shanghai. It is conceptualised as an integrated commercial and leisure hub, incorporating creative workspaces, food and beverage, and retail lots.

The first and second floor of Southgate commercial blocks will be the retail lot and the third to fifth floors are office suites. The last two levels are duplex suites.

Chua said the modular layout enabled buyers to buy more than a unit and mix and match them to suit their office needs. Besides ample parking bays at two basement levels, there is also parking at the ground level.

Mah Sing is confident that its lifestyle product differentiation for Southgate would ensure good sales and rejuvenates the surrounding areas.

Developer counts on Southgate

MAH SING Group Bhd foresees good response for its contemporary European-designed Southgate commercial properties in view of the high demand and short supply of commercial properties in Kuala Lumpur.

Deputy chief operating officer Andy Chua said the commercial market is facing a shortage of supply and the demand for good office space, especially in Kuala Lumpur, was “very high”.

“This is because ultimately for a business, people still prefer to set up offices in the city centre,” he told StarBiz, adding that new office buildings in Kuala Lumpur were fetching very high prices.

For example, he said, Menara YNH was sold for RM1,230 per sq ft, Glomac tower for RM1,120 per sq ft and Bumiputra Commerce building for over RM700 per sq ft.

“All these commercial properties were sold very fast through en bloc sales,” Chua said, adding that Mah Sing saw a lot of potential for purchasers to buy Southgate units at a reasonable price from RM430 per sq ft for an office suite.

The company is confident that purchasers would enjoy good appreciation when Southgate is completed in about three years.

“We are looking at yields of 8% and above,” he said.

Mah Sing, Chua said, could no longer benchmark itself locally but internationally as many foreign investors were coming to Malaysia.

“The architecture or properties that we offer to foreigners must be of international standard,” he said, adding that it would focus more on contemporary and cutting-edge architecture, which would add value to its commercial properties.

Besides Europe, the company also does research and gets ideas from countries like South Korea, Japan and Australia.

Chua said commercial properties were going to be a competitive market as there were many developers like Glomac, Bandar Raya Development and Malton who were also getting into this segment.

The commercial properties in Kuala Lumpur were beginning to look good because the prices still lacked behind residential properties, he said, adding that prices of residential properties in Kuala Lumpur City Centre (KLCC) had hit more than RM2,000 per sq ft.

He said many developers were looking for commercial land in good locations thus mixing up their traditional portfolio of residential properties.

“Our business model has always been in fast turnaround. We only acquire land in strategic locations,” he said.

He added that the company did not mind paying a premium for these land because it wanted good sales and to launch a project within the shortest time possible, normally within six months.

On its plans moving forward, Chua said Mah Sing targeted its commercial projects to contribute 50% of its revenue by 2009.

The commercial contribution would come from projects in Malaysia, Vietnam, India, Middle East and China.

“We are actively sourcing for development land in these countries. There are talks going on now for some joint ventures, outright purchase and mergers with our local partners in Vietnam, India and the Middle East.

“We hope to secure some projects by the first half of this year,” he said.

Mah Sing net profit rose 24.1% to RM81m
by Yong Yen Nie
Email us your feedback at fd@bizedge.com


KUALA LUMPUR: Mah Sing Bhd’s net profit for the year ended Dec 31, 2007 (FY07) rose 24.1% to RM81.13 million, underpinned by contribution from more projects it had launched over the year.

Revenue rose 15.7% to RM573.37 million from RM495.63 million, while earnings per share fell to 14.82 sen from 17.03 sen. It proposed a first and final dividend of eight sen per share less tax.

Mah Sing said yesterday its 15 projects, which are located in prime locations in the country, had contributed to earnings. It also has impending projects, including the Southbay Penang and Southgate Commercial Centre.

Going forward, it was confident the focus in the lifestyle medium- to high-end residential market and commercial segments, besides its turnaround business model, would continue giving positive results in FY08.

Additionally, Mah Sing would also seek en bloc sales opportuntities for its remaining commercial projects, such as the Southgate Commercial Centre in KL and Southbay City in Penang.

For the fourth quarter, the group’s net profit rose 18.02% to RM20.37 million from RM17.26 million, mainly due to more launched projects, while revenue fell 10.33% to RM120.4 million from RM134.27 million a year earlier.

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Southgate beckons to investors & buyers:
Mah Sing Group's latest offering fuses business with pleasure

Conceptualised as an integrated commercial and leisure hub, Southgate is the Mah Sing Group's latest development in the Kuala Lumpur City Centre (KLCC).

Inspired by Shanghai's Xintiandi, Southgate is expected to be completed in 3 years' time. It comprises of 5 blocks, with the main Corporate Building facing Jalan Tun Razak and the Apex Block facing Jalan Dua. The remaining 3 blocks - Vox, Vivo and Verve - are located within and connected via an atrium space.

The office suites range from 592 square feet to 1,704 square feet and retail lots from 535 square feet and 2,095 square feet. Brilliantly blending work and play, Southgate is envisaged to be one of the most coveted business and retail addresses in the heart of the Kuala Lumpur's vibrant city centre.

Southgate is yet another testimony to Mah Sing's pride in its reputation as a premier lifestyle developer. The Group continues to innovate on its projects, to add value to them.

For further enquiries, kindly contact to Mah Sing Group’s Sales & Marketing division at 03-9221 6888.


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Southgate Commercial Centre:
A thriving commercial hub at the nucleus of modish trends

In an era where lifestyle has become an important indicator of reputation and image, having the right business address is a vital factor that determines your business stature. The prominence of a business address is a measure of success in the eyes of your competitors and customers alike, even more so with an equally sophisticated appearance and functionality to match.

Southgate Commercial Centre is one of the last few available and highly sought after freehold developments in Kuala Lumpur that is poised to set your business apart. Featuring ultra-modern European themed design, Southgate boasts flamboyance with its gleaming glass façade that adds a touch of classiness to the outlook while allowing good natural light saturation. Southgate was inspired by the Xintiandi development in Shanghai, an integrated centre with a fusion of creative work spaces, food and beverage, and retail lots. It offers not just a trendy appearance but innovative space practicality for businesses that relate to chic lifestyle trends such as alfresco cafes, designer boutiques, unique retail stores, etc. Southgate comprises five blocks in all. The main Corporate Building which is an 8-storey building fronts Jalan Tun Razak and the Apex Block, a 7-storey building faces Jalan Dua and offers build up areas of approximately 230,250 sq. ft. and 89,362 sq. ft. respectively. Both these blocks are intended for enbloc sale.

The three other blocks aptly named Vox, Vivo and Verve are encapsulated within the main Corporate Building and the Apex Block buildings and are linked by an atrium. These are made up of 226 units of office suites with built-up areas ranging from 587 sq. ft. to 1,712 sq. ft. and 63 units of retail lots with built-up areas ranging from 535 sq. ft. to 2,187 sq. ft. Apart from that, there are ample parking bays (1116 bays) in the large carparks for the utmost convenience of the tenants and customers. Additionally, a bridge will be linked from Southgate commercial centre to Wisma Mah Sing to provide more parking bays.

Southgate is indeed an excellent investment for prices starting from at only RM430 per sq. ft. for an office suite and RM800 per sq. ft. for the retail lots. Comparatively, other commercial developments within the vicinity of the same prime urban area are priced between RM700 and RM2,000 per sq. ft.


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Voix Block

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Vertex & Vivo Blocks

A business address that resonates distinction
Located within the bustling prime business district of Kuala Lumpur, the development offers exceptional accessibility and connectivity to and around Kuala Lumpur City Centre via a web of linkage roads and highways. This distinctive landmark commercial centre in the midst of an integrated commercial and leisure hub is situated along one of the major arteries of the Kuala Lumpur city centre, Jalan Tun Razak. This makes it a ‘natural traffic magnet’ due to its prominent visibility that draws the attention of approximately 500,000 cars driving through every day. Sited at the main Southern gateway leading into Kuala Lumpur via the KL-Seremban Highway and accessed from the West via the Federal Highway, the development is at an excellent vantage point. It is also directly accessible via Jalan Sungai Besi while Jalan Dua connects to Jalan Chan Sow Lin and Cheras. Jalan Tun Razak and the BESRAYA Highway flows into the City Centre while Jalan Istana shortens the distance to Petaling Jaya and Shah Alam. Travelling to the suburbs is made easy via the SMART motorway tunnel which provides a faster and more convenient travel alternative. With the existence of such unparalleled accessibility and a dire demand for such a reserved address, Southgate is destined to afford high capital appreciation and attractive rental yields.

Developed by Mah Sing Group Berhad, a renowned developer known for their inspiring premier lifestyle developments such as The Icon at Jalan Tun Razak and The Icon at Mont’ Kiara, Southgate is targeted at corporate and high net worth customers such as local and international corporations, law firms, advertising agencies, professional consultancies, banks, restaurants, sidewalk cafes and bistros, niche boutiques, specialty stores or even showrooms just to name a few. With the lack of integrated commercial centres such as this, Southgate would become a one-stop thriving commercial hub and a bustling hive of activity.

Mah Sing Group Berhad’s unique brand of product differentiation that is prominently translated into the Southgate Commercial Centre, is in tandem with Kuala Lumpur City Hall’s (DBKL) Structure Plan to transform Kuala Lumpur into a world-class city by the year 2020.

The Southgate Commercial Centre offers investors and business operators the opportunity to own their very own commercial property at this attractively affordable price which will in the long-term prove to be a smart investment and cost saving as rental rates continue to rise. This would eventually cause problems as rentals become a burden to bear and businesses are forced to relocate to cheaper and inconvenient locations away from the city centre.

Come visit the First Preview of this astounding development at Mah Sing Headquarters @ Sungai Besi, Kuala Lumpur on 15 March 2008 (Saturday) and enjoy early bird promotions! For more information, kindly contact 03-9221 6888 or visit www.southgate.com.my.

Mah Sing’s Southgate project block 80% sold


KUALA LUMPUR: MAH Sing Group Bhd has received good response to its Southgate Commercial Centre project in Kuala Lumpur, with 80% of the Vivo block taken up.

“To cater to the strong demand, the group will open the Vox block for sale during the three-day launch (June 13 to 15) at Wisma Mah Sing,” the group said in a statement.

Vox comprises 90 standard and duplex office suites as well as 16 lifestyle retail lots.

Group managing director Datuk Seri Leong Hoy Kum said: “With Kuala Lumpur City Centre less than 10 minutes away, there is robust demand for well-planned niche commercial developments that provide a good business climate.

“We are targeting corporate as well as high net worth customers, including professionals, investors and entrepreneurs as Southgate is suitable for different business ventures.”

The statement said the group was poised for another profitable year, with 14 projects in prime locations – nine in the Klang Valley, four in Johor Baru (Iskandar Malaysia) and one in Penang.

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Mah Sing in talks to sell two Southgate blocks

By Adeline Paul Raj Published: 2008/06/24

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The developer is negotiating with foreign buyers for the sale of the Southgate blocks at over RM100 million each, says its chief

MAH Sing Group Bhd is in talks with several foreign parties for an en bloc sale of two of its five blocks of buildings at its Southgate commercial development in Sungai Besi, Kuala Lumpur.

The mid-to-high-end property developer is targeting to conclude the sale of at least one block by the year-end, group managing director Datuk Seri Leong Hoy Kum said.

Each block could go for "over RM100 million", he said.

"We are actually negotiating with these foreign purchasers. We have strong interest from the Middle East - such as the United Arab Emirates and Qatar - and also from a neighbouring country," Leong said, declining to elaborate.



Southgate, Mah Sing's third commercial development in Kuala Lumpur, should be completed in 2011 and is expected to breathe new life into the surrounding areas such as Pudu and Loke Yew.

The group, which also does residential developments, has a sales target of RM560 million for 2008 and plans to launch RM706 million worth of properties this year.

Mah Sing plans to eventually raise its selling prices for new property launches that have yet to be built, given rising building material prices which have resulted in higher construction costs.

"The sooner the buyer commits now, they may enjoy more attractive pricing. But eventually, we will have our prices increased in tandem with the construction cost increase," he said.

He pointed out that construction costs, just prior to the fuel price increases in Malaysia, have gone up by between 20 per cent and 25 per cent.

Mah Sing, which had a healthy cash balance of RM130.7 million as at end-March this year and a low gearing level, is also looking to expand its landbank.

"We are planning to buy more land in the Klang Valley, Penang and Johor, but we are not in a hurry as the land must be able to fit well into our quick turnaround business model," Leong said.

Leong is "selectively bullish" on the local property sector for this year and 2009, and sees growth for branded developers' medium-to-high-end residential and commercial projects in good locations.

The group, which has yet to venture abroad, is also scouting for opportunities in regional markets such Vietnam, China and India.

In Vietnam, for instance, it would be interested in doing a mixed development project with a local partner, he said.

Mah Sing sees RM560m sales


It is selectively bullish about property sector in 2008 and 2009

KUALA LUMPUR: Mah Sing Group Bhd targets RM560mil sales out of RM706mil worth of properties to be launched this year, as it is “selectively bullish” about the property sector in 2008 and 2009, managing director Datuk Seri Leong Hoy Kum said.

Despite rising inflation and fuel prices, its sales and launch targets were on track, with the group raking RM116mil in sales and RM201mil in launches for the first quarter, he said.

“The group’s focus on customer-centric homes and value investments has resulted in strong sales for both the group’s residential and commercial projects,” he said after the company AGM yesterday.

Leong said the group had been closely monitoring the increase in building material prices over the past year and had been building ahead of schedule to lock in construction costs.

On rising fuel prices and inflation, he said good property companies with innovative products and the flexibility to adjust to current market needs should emerge stronger.

“Things may not be all that bad for the property sector. Not only are the banks in good shape, households are not over-extended. The ratio of household debt to gross domestic product in our country is very low compared with countries like Britain and the US,” he said, adding that the group would be able to maintain its performance.

Mah Sing reported a 24% year-on-year increase in net profit to RM81.13mil. For the first quarter ended March 31 its net profit jumped 25% to RM22.31mil.

It has 584 acres of land bank left with a total gross development value (GDV) of RM3bil and unbilled sales of RM1bil as at March 31.

On its Southgate Commercial Centre, Leong said it had seen a strong take-up of RM40mil during its private preview for the Vivo block.

The recent launch of the Vox block also saw about RM78mil sales or 70% of available retail units and office suites sold. It is talking with some foreign parties to sell en bloc two of the five blocks.

“We’ve nine months to build the car park. This would be a window period for the rising cost of construction materials to cool off,” he said. He however noted that if costs kept rising, future launches would inevitably be more expensive.

Mah Sing’s residential properties also saw strong sales. For example, the first phase of Hijauan Residence in Cheras is 99% sold while launched units in Kemuning Residence in Shah Alam is 75% sold. Launched units in Sierra Perdana in Johor Baru also saw take up of 71% in sales value.

Mah Sing slashes sales target by almost half for FY08
by Racheal Lee Mei Nyee
Email us your feedback at fd@bizedge.com


KUALA LUMPUR: Mah Sing Group Bhd is targeting much lower sales of RM560 million for its financial year ending Dec 31, 2008 (FY08) after a remarkable FY07 in which sales exceeded RM1 billion.

The higher sales in FY07 were mainly due to several en-bloc sales of grade A office blocks at Icon Jalan Tun Razak and Icon Mont’ Kiara, totalling RM734 million. This year, however, the company is only targeting one en-bloc sale — an office block at the five-acre freehold development Southgate Commercial Centre, valued at at least RM100 million.


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“We are in talks with several potential foreign buyers from Thailand, Indonesia, in the Middle East and Singapore, for the en-bloc sale of two of the five blocks in Southgate. The deal is expected to be closed by year-end,” said its managing director Datuk Seri Leong Hoy Kum, adding that only one of the two blocks identified would be sold.

He said the development of the commercial centre would be completed in 2011.

Mah Sing plans to launch new phases at six projects nationwide, valued at RM706 million, this year. In its first quarter ended March 31, 2008, it launched RM201 million worth of properties and chalked up RM116 million sales.

“We would be able to maintain our performance going forward. We still have unbilled sales of RM1.08 billion for the next two years,” he told reporters after the company’s AGM here yesterday. The company has 14 projects on hand — nine in the Klang Valley, four in Johor Bahru and one in Penang.

Leong said the company would continue its strategy of acquiring each year parcels of land at the three locations that could fetch gross development values (GDV) of RM600 million to RM800 million. Currently, it has a landbank with GDV of RM4 billion.

“We have yet to start any construction deals overseas, but we are exploring opportunities in Vietnam and China. We are looking for middle- and long-term mixed development construction projects with quick turnaround, via joint ventures,” he added.

Mah Sing uses industrialised building system (IBS) to shorten the turnaround time of its projects. In addition, it has set up a specialised material sourcing team to get the best pricing and bulk purchase discounts with suppliers and contractors, in mitigating increased building material prices. Bulk purchase is said to help the company save 5% to 10% in material costs.

“We predicted last year that oil prices would continue to increase. Therefore, we put forward some construction projects within our affordability, so as to complete them with lower prices. Some construction (projects) have reached their tail-end, and will be sold at the old cost in the coming year,” Leong said.

“For new projects, we will raise the construction fee in line with the commodity prices. Eventually, we have to pass some costs to the buyers,” he added. Materials and labour account for about 50% of Mah Sing’s gross development cost. Mah Sing shares closed one sen higher yesterday at RM1.46, with 1.03 million shares transacted.

http://www.btimes.com.my/Gallery/southgate.gif?display=medium

EN BLOC SALE: Group managing director Datuk Seri Leong Hoy Kum showing a model of the Southgate project after the AGM on June 23 2008. Mah Sing Group Bhd is targeting to conclude the sale of at least one block by year-end.

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Mah Sing eyes more en-bloc sales for Southbay, Southgate
By Adeline Paul Raja Published: 2008/09/02


MAH Sing Group Bhd, a medium- to high-end property developer, says it is looking at more en-bloc sales opportunities for its Southbay City and Southgate commercial projects in Penang and Kuala Lumpur, respectively.

"En-bloc sales provide good cashflow as well as good branding, so we do look forward to more en-bloc sales for our commercial projects," managing director Datuk Seri Leong Hoy Kum told Business Times in a recent interview.

Southbay City in Penang, which has a gross development value of RM911 million, is slated for launch next year.

The project is still under planning but is expected to be an integrated commercial hub comprising hotels, serviced residences, offices and restaurants.



"We can sell the offices en-bloc, even the serviced residences and hotel," Leong said.

Meanwhile, for the RM380 million Southgate project, the en-bloc portion comprises the corporate block with about 230,000 square feet and the Apex block with about 90,000 sq feet of net lettable space.

Southgate, located in Sungai Besi, is Mah Sing's third commercial project in Kuala Lumpur.

Leong said the group is already in talks with interested parties from the Middle East, Singapore and other neighbouring countries for en-bloc sales in Southgate.

He hopes to be able to conclude the sale of at least one block there before year-end.

"We have a good track record in our en-bloc sales as the investors are both local and foreign institutional investors. This speaks well of our design concept and our products," he remarked.

Besides en-bloc sales, Mah Sing has also been making good sales for its commercial projects on a strata basis, he said.

For Southgate, the group has launched three blocks on a strata basis - Vox, Vivo and Vertex - which offer office suites at an average of RM500 per sq ft and retails units at an average of RM1,000 per sq ft.

"We have closed close to RM108 million in sales since our initial launch in March till June. More than 80 per cent of Vivo and more than 50 per cent of Vertex have been taken up," he said.

Demolition works at the Southgate development site are nearly finished and the group expects to start on the earthworks soon.

Leong expects the development to be completed by 2011, as scheduled.

Mah Sing, which has a sales target of RM560 million for this year, had already achieved sales of RM263 million in the first six months from all its property launches.

For next year, Leong said, the group is targeting sales to increase by up to 20 per cent from the anticipated RM560 million this year.

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Southgate

Vibrant Workspace and Great Investment

As if it were not enough to offer precious commercial space in affordable chunks at a great location, Southgate’s vibrancy and sleekness are enough to turn it into an iconic landmark, too…

Work, play and overall lifestyle are converging. Although people are spending more of their waking hours than ever before in commercial centres, not many centres are equipped to fulfil these needs. The Southgate commercial development, with its brilliant blend of work and play, is thus expected to be one of the most sought-after business and retail addresses in the vibrant city centre.

Premium Space, Unbeatable Price, Great Returns

Southgate offers a golden opportunity for business owners or SMEs to capture a prime FREEHOLD office space in the city centre, only three km from KLCC – for as low as RM300,000! The developer, Mah Sing Group, found that Grade A office buildings in KL were now 94.5% occupied. Large companies or mushrooming SMEs craving for a medium-sized, affordable and contemporary office space have very few resources available.

This explains the demand for Southgate, with its creative work spaces, food and beverage and retail lots. Of the development’s five blocks, two (Corporate and Apex blocks) are available for en bloc sale while three (Vox, Vertex and Vivo) are available on a strata basis. Vox and Vertex units have been taken up assertively while Vivo has sold more than 90% of its units. These plush office spaces range from 587 sq ft to 1,712 sq ft, priced from RM300,000 onwards. Spaces are also fast filling up for the retail lots, ranging in size from 575 sq ft to 2,105 sq ft and priced at RM1.3 million onwards.

According to Andy Chua, Deputy Chief Operating Offer of the Mah Sing Group, investors can look forward to more than eight per cent in annual rental yields and fantastic capital appreciation. The current selling prices also offer excellent value, that’s unbeatable by other future developments in the area. The reason? Mah Sing obtained the land when it was still gazetted as an industrial zone (it is now gazetted as a commercial zone) and is passing the savings onto its buyers. Market studies also report a growth of 41.9% year on year for the commercial segment, with an average price increase of 30.7% year on year.

Half a Million Daily Catchment

Southgate’s strategic location on Jalan Sungai Besi gives unparalleled visibility and a catchment of 500,000 drivers a day passing through this “Southern Gateway” into Kuala Lumpur. From here, residents are also conveniently linked with the KL-Seremban Highway, Jalan Tun Razak and Jalan Mahameru. Other than that, bus and taxi services will be at the doorstep and an LRT station is a mere 1km away

“This excellent accessibility means that businesses have a greater catchment of clients and visitors, and it is also easier to get to your clientele in other areas,” says Mr Chua, adding: “Employers will also have a bigger talent pool of workers to draw from.”

Conveniences for the Modern Professional

With information technology a key business requirement today, Southgate offers wireless broadband infrastructure throughout the complex, allowing executives to work online even if they feel like doing it outdoors! Sleek, sophisticated and spacious architecture is weaved in seamlessly with artistic landscapes and water features, making work a pleasure for the modern professional. A retail podium encompassing the entire development offers an array of F&B outlets, fashion boutiques and other lifestyle shops – making it a draw for “local” business residents as well as an ideal “hangout” venue for other KLites after work. The complex also has a three-tier security system as well as more than 1,000 parking spaces.

Developing for the Premier Lifestyle

The Mah Sing Group Berhad is synonymous with trendy, quality homes in prime strategic locations. The Group has high-end and lifestyle projects in the Klang Valley (Damansara Legenda in Petaling Jaya, Perdana Residence in Selayang and Aman Perdana in the Meru-Shah Alam Growth Corridor) and Johor Bahru (the lifestyle township Perdana series).

Mah Sing has received numerous awards, domestically and regionally, including: Best Property Malaysia, Asia Pacific Property Awards 2008 in Association with CNBC, Best Development Malaysia, International Property Awards 2007 in Association with CNBC, Forbes Asia’s Best Under a Billion Award for three consecutive years from 2005-2007, The Edge for Top 30, Top Property Awards 2006-2007 and Top 100 Companies with Best Returns over 5 years 2006-2007, Top 1000 companies in Malaysia from the Ministry of Domestic Trade and Consumer Affairs, as well as landscape awards.

Southgate’s prime FREEHOLD units are still available but selling fast, so interested entrepreneurs and investors should take action NOW. Come visit the show office at Wisma Mahsing, Jalan Sungai Besi, Kuala Lumpur, or call 03-9221 6888 or visit www.southgate.com.my.

dis is a very good investment...wish if i have the money...:bash::bash::bash:

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Great project, but is there any solution to the traffic jam at Jln Sg Besi?

Great project, but is there any solution to the traffic jam at Jln Sg Besi?

Yes. ERP or Congestion Charge....

Business park Southgate to be completed by 2011

Southgate Commercial Centre, an integrated business park developed by the Mah Sing Group Bhd’s wholly-owned subsidiary Jastamax Sdn Bhd, is expected to be completed by 2011.

The gross development value of this project is estimated at RM380 million, the company said in a statement today.

Southgate, a commercial development project in Kuala Lumpur, has received an overwhelming public response.

Mah Sing Group managing director Datuk Seri Leong Hoy Kum said the project is being developed to meet the needs of investors and also companies wanting to own office space in the city.

The group is targeting corporate as well as high net worth customers, including professionals, investors and entrepreneurs as Southgate is suitable for different business ventures.

By Bernama

Mah Sing eyes more commercial developments in Sg Besi
By Jeeva Arulampalam Published: 2008/09/29

The property developer will consider shareholder value and market demand before increasing its landbank in Sungai Besi, says Mah Sing Group's chief

PROPERTY developer Mah Sing Group Bhd is keen to do more commercial developments in Sungai Besi, Kuala Lumpur, as the location is the latest commercial hub, says its top official.

Business Times was made to understand that there was still commercial industrial land in the vicinity that could be used for development although the total hectarage was not known.

"If the opportunity permits, we are definitely thinking of developing this area, riding on our branding and track record to expand further," group managing director and group chief executive Datuk Seri Leong Hoy Kum told reporters after the groundbreaking ceremony for Mah Sing's Southgate development, located along Jalan Sungai Besi, on Saturday.

While Mah Sing wants to increase its landbank in Sungai Besi, the developer is not in a hurry to make a purchase.

"Whatever land we buy, we want to ensure we look out for shareholder value and the market must be able to absorb the demand," Leong said.

On Southgate, en bloc sales for its Apex Block and Corporate Building are expected to be finalised by the year-end.

"We have interest from private investors and also equity funds because there are very few freehold land (areas) in Kuala Lumpur to buy," deputy chief operating officer Andy Chua said.

Interested parties include those from the Middle East, Singapore and South Korea.

The three remaining blocks of Southgate - Vox, Vivo and Verve - offer office suites and retail lots.

More than 80 per cent of Vivo has been taken up, while Vox and Verve are seeing about 50 per cent take-up each.

Chua said the rental yield was estimated to be eight per cent, but added that he expected it to increase because of growing demand for good freehold office space in Kuala Lumpur and the insufficient supply.

"Also, with construction cost going up, there will be good potential for capital appreciation in future," he said.

On Mah Sing's performance, Leong said it was on track to hitting its RM560 million sales target for the year.

"Having locked in unbilled sales of RM1 billion and another RM3 billion gross development value (on remaining projects), this can last us for the next five years even without our acquiring new land," he said.

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i love dis project!!!!

Southgate in Jalan Sungei Besi has also done very well, achieving RM150mil in sales since last March,” Leong said.

http://www.southgate.com.my

cool project...surely a hot spot place...

pay only 15%...no payment until completion
new easy scheme from Mahsing

http://www.easyhome.com.my/www/inner4_southgate.php

cool design!

Any update on site!?

Mah Sing bags 2 AsiaPac Property awards
Written by Joseph Chin
Wednesday, 29 April 2009 15:25

KUALA LUMPUR: Mah Sing Group Bhd’s Southgate Commercial Centre and Aman Perdana projects saw the lifestyle developer winning two coveted awards in the Asia Pacific Property Awards 2009.

Southgate in Kuala Lumpur was recognised as “Best Office Development in Malaysia”, whilst Aman Perdana in the Meru-Shah Alam corridor was named “Best Mixed Use Development in Malaysia”.

The awards, organised in association with CNBC Arabiya, would be presented to the winners at a gala dinner at the Marina Mandarin in Singapore on July 16.

Mah Sing said in a statement on April 29 the awards proved the group’s continued commitment to raise the benchmark as a premier lifestyle developer.

The Asia Pacific Property Awards 2009 was part of the International Property Awards, the world’s most prestigious competition dedicated to finding the best real estate professionals across the globe.

Mah Sing was named a winner of these coveted awards for three years from 2007 to 2009 which proved that Malaysia was not only able to compete at this level but also excel in this highly competitive Asia Pacific property arena.

Its innovative product development and quality of finishes, as well as committed customer service saw the group taking top honours in the property category in recent The BrandLaureate 2008-2009 awards.

The group also won in three categories in the Euromoney Liquid Real Estate Award 2008, which were Best Developer, Overall – Malaysia; Best Office/Business Developer – Malaysia and Best Mixed-Use Developer – Malaysia.

Mah Sing group managing director Datuk Seri Leong Hoy Kum said the group was gratified to be recognised for its development on an international level.

“Buying a property is quite probably the most significant personal expense anyone is likely to make during their lifetime. As a developer that is setting global standards, we will continue striving to live up to our buyers expectations by offering quality properties.

“Coming hot on the heels of our recent win namely Best Brand in Property in the prestigious The BrandLaureate Awards 2008-2009, these awards serves to encourage us and allow us to stand out in the crowded market place. We will continue to build a leadership position for Mah Sing Group Berhad whilst contributing to branding Malaysia globally,” he said.

Mah Sing, meanwhile, extended their “Easy Home Ownership” campaign to June 30, 2009. The campaign is a financing programme for their residential and commercial properties.

Of the purchase price, buyers are required to pay only 5% for residential properties, and 15% for commercial properties, with the balance payable upon completion of the properties. For completed residential properties, buyers can reduce their monthly installment payments by servicing only the interest on their loan amount for the first five years. Mah Sing Group will absorb the legal fees for the sales and purchase agreement, loan documentation, and memorandum of transfer for selected properties.

Mah Sing Group has 16 projects in Klang Valley, Penang island and Johor Bahru with RM3.8 billion worth of remaining gross development value and unbilled sales as at Dec 31, 2008.

eh, belum apa2, siap pun tak lagi...dah jadik 'BEST'? itu belum kira traffic congestion lagi tu....

eh, belum apa2, siap pun tak lagi...dah jadik 'BEST'? itu belum kira traffic congestion lagi tu....

ye betul...
gua hari2 lalu depan situ tu... sesak giler bro...
belakang site ada kilang2...

pay only 15%...no payment until completion
new easy scheme from Mahsing

http://www.easyhome.com.my/www/inner4_southgate.php

I did a site survey for this location, and the result is not promising. The surrounding of old houses/factories and heavy/bad traffic are main hurdles for this project to outshine.

Not a recommended project for investment :ohno:

Mah Sing makes the move to ride out the soft demand for homes
By ANGIE NG


PETALING JAYA: Mah Sing Group Bhd will be building up its commercial property portfolio to ride out the soft demand for residential property that is expected to last until at least early next year.

President and group chief executive Datuk Sri Leong Hoy Kum expects commercial projects to contribute to about half of the company’s sales target of RM450mil and 40% of the company’s revenue for the financial year ending Dec 31.

Leong said Mah Sing intended to use its potential war chest of close to RM900mil to expand its landbank for more commercial and residential projects that fit its business model of quick project turnaround.


Leong ... 'We may go into real estate investment trust later on'.
It is looking to acquire one to two more pieces of land for integrated commercial developments next year.

“We see good demand for commercial properties, especially purpose-built buildings in prime locations and lifestyle commercial developments, including well-planned business parks, offices, shops, and retail space,” Leong told StarBiz.

He said most of the Grade A offices and shop offices in good locations were doing well and he expects prices to start climbing next year. Currently, office space is fetching between RM1,000 and RM2,000 per sq ft while shop offices are priced around RM500 to RM1,000 psf.

Although, all its commercial properties are for sale presently, “we may go into real estate investment trust later on.”

“At the moment, we see good demand for commercial properties, especially purpose-built buildings in prime locations and lifestyle commercial developments, including well-planned business parks, offices, shops, and retail space,” he said.

Mah Sing has five ongoing commercial projects in Kuala Lumpur and Penang worth a total gross development vaue of RM2.2bil. These projects will take between three and seven years to complete.

The Icon Jalan Tun Razak comprises two blocks of Grade A office space in the heart of Kuala Lumpur with a gross development value (GDV) of RM430mil.

With approximately 500,000 sq ft of net lettable area, it is slated for completion in the middle of this year. The office blocks have been sold to Kuwait Finance House and Kooperasi Felda.

The second in the Icon commercial series, Icon Mont’ Kiara worth RM305mil, will also be sold en bloc.

Southgate Commercial Centre in Kuala Lumpur comprises five blocks of office and retail space with 599,000 sq ft of net lettable area.

Three of the blocks are available for sale on strata basis, with retail lots ranging from 535 sq ft to 2,105 sq ft at average price of RM1,100 psf, and office suites from 587 sq ft to 1,712 sq ft at RM550 psf.

Close to 90% of the office and retail space in the three blocks has been sold for RM152mil and the RM458mil project is on track for completion by 2011.

Starparc Point in Setapak, Kuala Lumpur, on five acres, will comprise mainly 24 three-storey shoplots and 22 units of six-storey shop offices for a GDV of RM125mil.

It will be launched next month for completion in 2012.

In Penang, the commercial precinct of Southbay Penang is an integrated commercial hub within a resort-like setting.

Comprising fine-dining restaurants, retail outlets, service apartments and hotel suites, the project will have a GDV of RM911mil.

The project will be open for private preview around the year-end or the first half of next year.

It is expected to be completed within five and seven years from the project’s launch by the first half of next year.

Meanwhile, the residential precinct of Southbay Penang on 54 acres will have 284 super-link homes priced from RM795,000 and 76 bungalows priced from RM3.7mil.

The residences will be launched for sale next month and will have total GDV of RM518mil.

looking to invest in Southgate, there is 5-95 package now with no payment until completion which is quite affordable.

anyone can gives me other advise beside the surrounding of old shoplots & factories and heavy & bad traffic

looking to invest in Southgate, there is 5-95 package now with no payment until completion which is quite affordable.

anyone can gives me other advise beside the surrounding of old shoplots & factories and heavy & bad traffic

Try to drive around the area... u should have all your concerns answered. Then talk to the agents and ask for the purchase price, concept and sqf, you will be in for a rough ride :nuts:

SOUTHGATE

http://www.easyhome.com.my/www/images/decor_southgate.jpg

A freehold commercial address fronting Jalan Tun Razak, Southgate is only 5 minutes away from the center point of KL city. The contemporary business lifestyle in Southgate - the first of its kind integrated commercial hub in Kuala Lumpur city - is built for exceptional success.

With high-speed wireless broadband infrastructure and cutting edge architecture, coupled with its strategic freehold location and convenient public transportation, Southgate is posed to be the best commercial property investment today.

Location: Jalan Tun Razak / Jalan Sungai Besi, Kuala Lumpur

This is my humble opinion. First of all, good commercial property always have congested traffic around the area. Can we think of a happening commercial area which has a smooth traffic flow everyday? Traffic at Jln Sg Besi is not as bad b4 after the opening of Smart Tunnel & KL Putrajaya Highway. There is only a shortage & on certain hours only.


DBKL is planning to turn this area into commercial area when the leasehold of the factory nearby expires.


Besides, there is still a shortage supply of Grd A office in KL according to Knight Frank report 1 Qtr 2009, so i believe that Southgate will be a gd investment. There is no other Grd A building around it

This is my humble opinion. First of all, good commercial property always have congested traffic around the area. Can we think of a happening commercial area which has a smooth traffic flow everyday? Traffic at Jln Sg Besi is not as bad b4 after the opening of Smart Tunnel & KL Putrajaya Highway. There is only a shortage & on certain hours only.

DBKL is planning to turn this area into commercial area when the leasehold of the factory nearby expires.

Besides, there is still a shortage supply of Grd A office in KL according to Knight Frank report 1 Qtr 2009, so i believe that Southgate will be a gd investment. There is no other Grd A building around it

Thanks. Do you have the official source for the DBKL's plan for the SG Besi project as you mentioned? If it's true, I do agree with you. First, they (Ma Sing Bhd or DBKL) should get rid of those old factories around the area and develop it into commercial area.

Taken from Mahsing Official Website

http://img232.imageshack.us/img232/5743/011dvu.jpg

STANDARD OFFICE SUITES

http://www.mahsing.com.my/image/Southgate_Brief_1.jpg

High celling
Classy finishing
Ample natural lighting
Floor to ceiling height window
Contemporary interior features
Built-Up ranges from 587 s.f. To 1362s.f.
Average price from RM550 per s.f.

STANDARD RETAIL OUTLETS

http://www.mahsing.com.my/image/Southgate_Brief_2.jpg

High celling
Classy finishing
Contemporary interior features
Well proportioned & flexible space
Interconnected to atrium space
Built-Up ranges from 535 s.f. To 2105 s.f.
Average price from RM1200 per s.f.

CORPORATE BUILDING

http://www.mahsing.com.my/image/Southgate_Brief_3.jpg

State-of-the-art technology partners modern commercial office suites to create a new icon for the business, fashion and automobile district in the city. The building is adorned with artistic landscape and water features for a contemporary working environment. Dynamic outlook features enhance work and leisure lifestyle with connectively to a wide open leisure space dotted with greenery.

APEX BLOCK

http://www.mahsing.com.my/userfiles/image/Southgate_Brief_4.jpg

• 7 storey of prime commercial space offer 2 levels of retail space and another 5 levels for corporate office.
• Modern facilities features, wireless broadband infrastructure, smart air-conditioning system with active & passive security.
• Ample parking spaces with good landscaping.
• Expected 8% rental yield returns after completion.
Apex North Tower
- Built up: 46,259 s.f.
- Selling Price: RM34.8 mil
Apex South Tower
- Built up: 43,867 s.f.
- Selling Price: RM31.7 mil

Source: http://www.mahsing.com.my

Mah Sing sells building en bloc to Felda co-op for RM226m
By Jeeva ArulampalamPublished: 2009/08/13



PROPERTY developer Mah Sing Group Bhd (8583)has made its second en bloc sale, this time of an eight-storey building with retail and office space, to Koperasi Permodalan Felda Bhd for RM226 million, helping the developer exceed its full-year sales target.

Mah Sing is selling the Corporate block under its Southgate development in Kuala Lumpur under a sale and purchase agreement signed yesterday.

While the Corporate block had garnered interest from several institutional investors, Mah Sing sweetened the deal for shareholder Koperasi Permodalan Felda to purchase the building by offering its 5/95 programme to the latter.

Five per cent of the sale consideration is paid upon the execution of the sale and purchase agreement while the balance is paid after each stage is completed.
"We have offered the programme as we are confident of the buyer's financial health," Mah Sing executive director of corporate and investment Ng Poh Seng said when contacted yesterday.

In an announcement to Bursa Malaysia, Koperasi Permodalan Felda said it will lease back the building to Mah Sing for two years based on an annual guaranteed rental of 8 per cent of the building sale price.

According to the group's 2008 annual report, Koperasi Permodalan Felda had a 8.47 per cent stake in Mah Sing as at April 29.

Mah Sing's first en bloc sale to Koperasi Permodalan Felda was in July 2007 when it sold The Icon Jalan Tun Razak (West Wing) for RM174.4 million.

Meanwhile, Ng said Mah Sing is still talking to several parties for the sale of its remaining Southgate office and retail block, APEX.

The Southgate development comprises of five buildings in total, of which three blocks (Vox, Vivo and Vertex) opened for investment on a strata basis yielded sales of RM163 million.

Yesterday's deal saw the developer record total sales of RM543 million for the first seven-and-a- half months of the year, more than its initial full-year target of RM453 million.

Its unbilled sales were RM800 million for the same duration, and Ng expects the sales to be realised within the next two to three years.

At a media briefing held in Kuala Lumpur yesterday, Mah Sing said it is acquiring 46.7ha of freehold land in Cyberjaya for RM130.5 million.

"The land will be a medium to high-end residential development, named Garden Residences, with an estimated gross development value (GDV) of RM690 million," said Mah Sing group managing director-cum-group chief executive Tan Sri Leong Hoy Kum.

The Garden Residences will be developed in two phases. Phase One, due to be launched early 2010 with a GDV of RM250 million, will have 267 superlink and 124 semi-detached units. Phase Two, with a GDV of RM440, will have 284 semi detached units and 70 villas.

"We are targeting to complete the development within three years and we should be able to book in about 30 per cent (of Phase One GDV) by the end of 2010," said Leong.

He added that Mah Sing was bullish about the property market and expects a recovery by the middle of next year.

The group has a total of 17 projects with remaining GDV and unbilled sales of RM4.4 billion located in the Klang Valley, Penang and Johor Baru.

On its ongoing talks with stakeholder Permodalan Nasional Bhd, Leong said that both parties are still discussing on future commercial ventures.

.....waaa....ini felda banyak kaya huh!!

Mah Sing unit to sell retail and office space for RM226m


KUALA LUMPUR: Mah Sing Group Bhd subsidiary, Jastamax Sdn Bhd, has proposed an en bloc sale of an eight-storey retail and office space with two basement levels of car park within its Southgate commercial centre for RM226mil cash to Koperasi Permodalan Felda Bhd (KPF).

Mah Sing told Bursa Malaysia yesterday that it was extending its 5/95 marketing programme to KPF.

Under the programme, 5% of the total price will be paid upon the execution of the sales and purchase agreement and the balance 95% will be released to Jastamax based upon the architect’s certification of each stage of completion.

The eight-storey building, with gross area of 257,943 sq ft (excluding car park) is to be leased back for a period of two years by Jastamax from KPF.

With the proposed en bloc sale, Mah Sing’s sales so far this year have exceeded its full year sales target of RM453mil by 1.2 times to hit RM543mil. Its unbilled sales to date is recorded at RM800mil.

Mah Sing group managing director cum group chief executive Tan Sri Leong Hoy Kum attributed its success to pre-emptive measures in terms of project planning, pre-construction, cost management, cash management and the 5/95 marketing programme.

“Both the residential and commercial divisions have done well under the 5/95 programme, contributing 40% and 60% respectively to sales year-to-date,” he said, adding that it would continue this programme as demand was resilient.

However, it is considering a new sales target for the full year and is unable to reveal any projected figures. Last year, Mah Sing reported revenue of RM651.6mil, of which RM502.1mil came from the property and RM145.7mil from the plastic divisions.

“For the second half, we shall continue launching the projects we had planned last year,” Leong said in a separate statement to Bursa.

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The Site: U/C

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cool!!

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Mah Sing sells Apex Tower for RM63.1 million
By Racheal Lee of theedegeproperty.com
Tuesday, 15 December 2009 19:31

KUALA LUMPUR: Mah Sing Group Bhd sold the 7-storey Apex Tower in Southgate development, Sungai Besi to Taiwanese Chen Ho-Yuan for RM63.1 million.

Jastamax Sdn Bhd, its wholly-owned subsidiary, had on Dec 15 entered into a sale and purchase agreement with Chen for the enbloc sale of the retail and office space with an approximate net floor area of 90,126 sq ft, the company said in a filing to Bursa Malaysia on Dec 15.

Apex Tower consists of two levels of retail space and five levels of office space with gross floor area of 109,280 sq ft. It forms part of the overall freehold Southgate commercial development project, which is located at the intersection of Jalan Dua and Jalan Sungai Besi.

Southgate comprises five blocks of multi-storey retail lots, office suites/duplexes as well as commercial car parking bays. The five blocks are Vox, Vivo, Vertex, Corporate and Apex.

The enbloc sale has helped to clock up total sales of RM678 million, exceeding the group’s full-year sales target of RM453 million.

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cool projek but bad location...hopefuly dis projek wil change the area sumday

thats the main reason..if all cool projects are build only in cool areas than how to up-grade places such as this?

cool projek but bad location...hopefuly dis projek wil change the area sumday

Fully agree with U... :)

Hi brothers,

Mind asking who is the contractor for this project?

Thanks

Mah Sing releases final 12 duplex suites at Southgate
By Wong King Wai of theedgeproperty.com
Thursday, 08 April 2010 18:35

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KUALA LUMPUR: Mah Sing Group Bhd has released the final 12 duplex office suites (pictured) out of 40 available at its Southgate Commercial Centre development on Jalan Sungai Besi, Kuala Lumpur.

The unique duplex suites provide double-volume loft space with built-ups from 892 sq ft to 1,712 sq ft. They are priced from RM470,500 onwards. The spaces come with full-height windows to allow in plenty of natural light and a spiral staircase to reach the upper level.

“The suites are ideal for consultancy and specialist services such as architects, engineers, lawyers, financial and insurance planners, accountants, doctors and also showcase galleries,” Tan Sri Leong Hoy Kum, Mah Sing’s group managing director and group chief executive officer told theedgeproperty.com on April 8.

The duplex suites are housed in the 7-storey Vertex and Vivo blocks, which are part of a group of five towers with a total net lettable area of 600,000 sq ft. Two towers, the Corporate Building (NLA 232,000 sq ft) and Apex Tower (NLA 90,000) have been sold enbloc, while the remaining Vox, Vivo and Vertex blocks are sold on a strata basis.

Vox, Vivo and Vertex have office and retail components. The retail units have sizes ranging from 535 sq ft to 2,105 sq ft with 16ft-high ceilings and tagged at an average RM1,100 psf. Meanwhile, the standard office units have 12ft-high ceilings with built-ups from 587 sq ft to 1,712 sq ft and priced at an average RM550 psf.

“Since the launch of these three blocks, Southgate has secured average strata sales of 90%,” offered Leong.

Southgate, a freehold five-acre development with a gross development value (GDV) of RM458 million, is located along Jalan Tun Razak/Jalan Sungei Besi, just 10 minutes from the Kuala Lumpur city centre.

The project is accessible from the Mahameru Highway, BESRAYA Highway, Federal Highway, Kesas Highway, MRR2 Highway and SMART Tunnel as well as Jalan Chan Sow Lin, Jalan Istana, Jalan Loke Yew and Jalan Dua. The development is expected to be completed in 2011.

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haih nowadays i go there every Mon-Fri..... siennnn :bash:

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list of tennants in Southgate.....targetting operational by June 2011

1) Food and beverage (F&B) outlets, restaurants
a) Subway
b) Overtime
c) 不见不散 (Pat Kin Pat Sun Cafe)
d) Ice Room
e) Porridge Time
f) 石好 (Sek Hou Restaurant)
g) Jojo Little Kitchen
h) Mr Siew Bao
i) Each A Cup
j) Auntie Anne’s
k) Delica
l) Sweet and Crispy Delights
m) Cup Bon
n) Pappa Roti

2) Fashion, Jewellery and Accessories
a) Nichii
b) Kitschen
c) Dressing Paula
d) Marry Merry
e) Gorgeous Boutique
f) Tanng J
g) Natural Quartz

3) Personal care, beauty and fitness
a) Gorgeous Fitness
b) Orange Hair and Beauty Salon

4) Services and specialty stores
a) Celcom Blue Cube
_________________

after 6pm....the road bz but the area sunyi dan sepi...the shops semua closed...hopefully southgate will change dis area....

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few stores already opend....nice view but stil didnt like the location....

Mana ini tempatlah?

City&Country: Mah Sing’s first mall to open soon
By Wong King Wai of The Edge Malaysia
Sunday, 14 August 2011 00:00

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Mah Sing Group Bhd will reach an important milestone this month — the soft opening of its first retail mall at its recently completed Southgate development in Sungai Besi, Kuala Lumpur.

Southgate is an integrated commercial development with retail and office components. The mall takes up of two floors of the retail podium, which is located below the offices. It will have a net lettable area (NLA) of 200,000 sq ft and feature more than 100 stores. The mall’s carpark has about 1,200 parking bays.

Some tenants will be opening their doors for business during the mall’s soft opening on July 20. Southgate’s official launch is slated for mid-August.

The inspiration for Southgate came from Shanghai, Mah Sing Properties Sdn Bhd COO Andy Chua tells City&Country. “When the land for Southgate came on the market, we were very interested because we could see that it had the potential for a commercial development,” he says. “At the same time, we were looking at Xintiandi in Shanghai, and we wanted to have a similar kind of ambience and vibrancy, especially for F&B, and we wanted to bring that concept to Kuala Lumpur.”

Xintiandi in Shanghai is an urban tourist attraction with an exclusive historical and cultural heritage. The city centre is one block south of Huai Hai Zhong Road and a Metro station and covers about 7.4 acres. F&B, retail, entertainment, cultural, recreation, commercial and residential facilities operate out of restored “Shikumen” houses — an old form of building architecture only found in Shanghai. In all, the area offers 6.5 million sq ft commercial gross floor area. Xintiandi won the national 2001 Innovation China Architecture Award, 2002 AIA Hong Kong Citation and 2003 Award of Excellence from US-based Urban Land Institute.

Southgate has a gross development value of RM466 million and sits on 4.76 acres of freehold land, purchased in 2007 for RM52 million or RM250 psf. It is located on Jalan Tun Razak/Jalan Sungei Besi just 10 minutes from the Kuala Lumpur city centre. Chua notes that it is located at the southern gateway of Kuala Lumpur, whhich is how Southgate got its name.

“Southgate has more than half a million people passing through daily, making it an ideal location for offices and retailers,” says Chua.

The main anchor tenants at the mall are fashion label Nichii and fitness centre Gorgeous Fitness, which have a combined floor space of 30,000 sq ft.

The retail units, which ranged from 535 sq ft to 2,105 sq ft, were sold on a strata basis and have been fully taken up. Mah Sing did not retain any of the units, which were sold at an average of RM1,100 psf.

The retail podium is presently managed by Mah Sing Properties, which will take charge of the tenant mix. Chua explains that the company will manage the mall until a Joint Management Body (JMB) is established, after which, Mah Sing will let the owners decide if they wish it to continue as the property manager. Chua explains that about 50% of the retail units will be F&B outlets and the remainder will consist of other retailers and convenience stores like optical shops, fashion boutiques and beauty centres.

The retail podium comprises the ground floor and level two of the Southgate development. Rental rates for the ground floor are between RM8 psf and RM12 psf while that for level two are between RM5.50 psf and RM8 psf.

Southgate’s design aims to ensure an environment that is pleasing to the eye and encourage people to mingle outdoors. Chua says the whole development has been WiFi-enabled so that visitors will be able to surf the net while enjoying their coffee outdoors and office workers will able to work outside the buildings.

Other than the comfortable outdoor space, creating the right ambience for shoppers and office workers was also important, says Chua. An ambience consultant was brought in to create the right mood and feel for the place for people to unwind and relax. The design included the careful placement of the walkways and water features. Mah Sing also hired a lighting consultant while the landscaping was done by its in-house landscape consultant. Chua adds that the project’s clean and contemporary architectural lines also lends itself to the overall ambience.

Chua says the retail mix benefits both workers and visitors. “The office population will want to have F&B outlets nearby for the employees and also their clients and customers,” he says. “Nowadays, when you discuss business, it is no longer in a corporate setting and can be conducted over coffee downstairs. That is more personal.”

Southgate’s office units cover a net lettable area of 400,000 sq ft. Like the retail units, they have all been sold. Unit sizes range from 587 sq ft to 1,723 sq ft and they were sold at an average price of RM600 psf.

About 50% of the offices will open soon while the remainder are still untenanted. The asking rent is between RM4 psf and RM5 psf. Chua explains that the offices are designed to cater for service-oriented companies such as advertising agencies, architectural companies and law firms.

There is no residential component in the development. “We felt that residences would not be so suitable because there are already a lot of residential developments in the KL city centre,” says Chua. “We also felt that KL did not have a good retail-cum-office development and that Southgate’s present concept would be more appropriate for the location that we are in. We also wanted to introduce a new concept to the KL property landscape.”

Moving forward, Chua reveals that Mah Sing intends to replicate Southgate’s concept either locally or abroad, “provided the site suits this type of development”. The maximum size for this future project is five acres. If the land size is larger, the concept may vary to take advantage of the additional space although the main concept and theme will remain the same, says Chua.

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It has a funky rainbow-colored display at nite....

similar but nicer thn sunway giza