Already posted here by forumer Ethaniel 83, but I think it deserves an own thread.:) http://www.skyscrapercity.com/showthread.php?t=102116&page=22

http://img508.imageshack.us/img508/8551/commercialpicln7.jpg


By THE EDGE

KUALA LUMPUR: Oilcorp Bhd is teaming up with Amanah Raya Bhd to jointly develop a 35-storey office tower and a 33-storey hotel suites here at a gross development cost of RM330 million.

In a statement yesterday, Oilcorp said their subsidiaries Magic Coast Sdn Bhd (MCSB) and AmanahRaya Development Sdn Bhd (ADSB) had inked a joint development agreement and the underwriting agreement for the project known as D’Tiara Office and Hotel Suites.

The development on a 8,871 sq m parcel of land is expected to start from September 2007, and targeted for completion by end-2010. The land is valued at RM44.36 million.

ADSB is underwriting the 35-storey office building, which will have 400 car park bays, at a price of RM149.31 million, half of the total development cost.

A total of RM30 million, or 20%, of the total underwriting price would be paid to MCSB as part of the consideration of the underwriting arrangement.

Oilcorp said that as such, the business risk had been significantly reduced in terms of securing future sales of the office units.

It said ADBS would be entitled to 50% of the project’s pre-tax profit, or a minimum guaranteed profit of RM30 million. MCSB has guaranteed a pre-tax profit of at least RM60 million for the project.

Additionally, ADSB will procure up to RM80 million based on a revolving and reducing balance basis to finance the proposed development, Oilcorp said.

Oilcorp expected the project to contribute positively to its earnings and net asset for the next four years from the financial year ending Dec 31, 2007.

where the place??? didnt say where they going to build it??

KL Sentral. :)

KL Sentral??

KL Sentral??






Prestigious Location
D’Tiara Office & Hotel Suites is strategically positioned within the KL Sentral locale and is only a mere stone’s throw away from the country’s main transportation hub. Developed as a self-contained project within KL Sentral’s excellent infrastructure and exceptional amenities, D’Tiara Office & Hotel Suites is very well positioned as the best place to Work, Relax & Recharge.
Surrounded by an efficient transportation system, 5-star hotels, major shopping malls, tourists’ spots and fabulous food outlets, all these pleasures are at the doorstep of D’Tiara Office & Hotel Suites.

Boasting an excellent road system, the strategic project is easily accessible via 5 major highways in Kuala Lumpur – from the city centre, the north, the south, from Bangsar as well as Petaling Jaya. Residents and visitors alike will appreciate the convenience of the efficient transportation system, namely the Putra Line LRT, KTM Commuter and the Express Rail Link which provides check-in facilities and the fastest connection to the Kuala Lumpur International Airport from the city centre.


Communication Excellence
We understand the importance of communication and the need for you to be reachable and connected at all times. D’Tiara Office & Hotel Suites comes complete with an integrated and advanced ICT infrastructure system to cater for all your communication needs. Our goal for communication excellence is to provide an enhanced customer experience second to none.

Complete Peace of Mind
At D’Tiara Office & Hotel Suites, your peace of mind is our main priority. We have in place the latest security system that provides high levels of security and privacy at all times.
24-Hours Security with Advanced CCTV System
Intercom System
Access Card System
Central Security Centre
Strategically-placed Guard Posts


Breathtaking View, Inspired Surroundings
D’Tiara Office & Hotel Suites is uniquely architectured to enhance the grandeur and the beautiful surroundings of this majestic development. All Office & Hotel Suites offer spectacular panoramic views of the KL skyline and its surrounding areas.
All Suites are innovatively developed, where design meets functionality, and they come in well laid-out designs in various sizes.

Epitomizing the modern look of the millennium, the interior design of the Hotel Suites are inspired with artistic design touches, luxurious and of superior standard.


Comprehensive Range of Exclusive Facilities & Amenities
D’Tiara Office & Hotel Suites provides you with a comprehensive range of facilities and amenities to ensure your complete comfort and convenience. Everything you need to Work, Relax & Recharge in this prestigious neighbourhood is well provided for.
Other Facilities and Amenities include :
Reception Lobby
Lounge
Restaurants
Spa & Health Centre
Infinity Pool
Water Activity Pool
Business Centre
Launderette
Banking Hall
Showroom
Ample car park bays


In essence, we believe in providing facilities and services that rivals the best hotels and we ensure that our well-trained personnel are at your service 24/7 to ensure that all your needs are well taken care of.
Our Hotel Suites are now open for sale. Whether you purchase a unit for investment or for your own Leisure, this is definitely one purchase that will fulfill your every need.

Each Hotel Suite is fully-furnished and comfortably equipped with LCD TV, Entertainment System, etc.

For own leisure, you can opt for the basic and unfurnished units. Feel free to contact our Sales Team for details.



http://www.dtiara.com/project_office&hotel.html

but from the map location, arent it located in front of the old ktm building??

oh...no..a bit far..

http://img.photobucket.com/albums/v116/zahirnya/location_map.jpg

the location...

http://www.dtiara.com/Project/commercial/floor_plan/grand_tiara_floorplan/aerial_view_project.jpg

Oilcorp to launch 3 property projects worth RM1.2b


August 14 2007


OILCORP Bhd, an integrated holding company, aims to launch three new property development projects involving a gross development value (GDV) of about RM1.2 billion over the next four to five years.

Its executive director, Pua Yow Liang, said today the projects are at KL Sentral, Genting and Pulau Indah.

For the project in KL Sentral, the company has teamed up with Amanah Raya Development Sdn Bhd, a subsidiary of Amanah Raya Bhd, to jointly develop a 35-storey office tower and a 33-storey hotel block called D’Tiara Office and Hotel Suites with a GDV of RM330 million.

The corporate office building is being completely underwritten by Amanah Raya, which means Amanah Raya is the guaranteed purchaser for the office block, he told reporters after the signing ceremony between Oilcorp and Amanah Raya for the joint development and underwriting of D’Tiara Office & Hotel Suites in Kuala Lumpur.

He said the suites will be available for sale soon priced between RM360,000 and RM600,000 per unit.

“For the hotel suites, we will offer an attractive leaseback programme which will guarantee seven per cent a year returns for five years with an option to renew for another five years,” Pua said.

Construction work will begin next month, with completion expected in late 2010.

The property division has been one of Oilcorp’s main divisions since its listing on the Bursa Malaysia Main Board in 2003 and the division contributed almost 20 per cent to the group’s revenue last year.

Oilcorp hopes this contribution will increase gradually with the development of new property projects.

Pua said the company has a 330-acre landbank at Pulau Indah and Genting and has no intention of expanding this at the moment.

“We feel our current landbank is sufficient for us to develop over the next eight to 10 years,” he added.

Meanwhile, Pua said Oilcorp also plans to list the property divison on the London Stock Exchange under the Alternative Investment Market (AIM).

The company is in the midst of appointing an adviser for the listing proposal and plans to make the listing application early next year, he added. — Bernama

update news!

Oilcorp sees RM135m from sale of hotel in KL

By Chong Jin Hun
jinhun@nstp.com.my

August 15 2007

OILCORP Bhd stands to generate at least RM135 million from sale of its upcoming hotel in Kuala Lumpur, the second of its four planned hospitality units comprising some 3,000 rooms it hopes to build in Malaysia in the near term.

Oilcorp executive director Pua Yow Liang said the 375 rooms in the 33-storey hotel in Kuala Lumpur could be sold for between RM360,000 and RM600,000 each. The developer will, in turn, lease back and manage the properties.

The hotel is part of a RM330 million real estate venture between Oilcorp and state-owned trustee services provider Amanah Raya Bhd on a 0.9-hectare freehold site along Jalan Tun Sambanthan near KL Sentral.

Development of the project, called "D'Tiara AmanahRaya Hotel Suites & Corporate Offices", also includes a 35-storey office tower which is sold to Amanah Raya for RM149.3 million.

"This (hotel in Kuala Lumpur) is the second hotel we will be involved in, and there will be two more to come. Hopefully, we will launch the remaining two by end of this year or early next year.

"At the moment, we have no plans to expand our landbank in Malaysia, and develop properties abroad," Oilcorp executive director Pua Yow Liang said in Kuala Lumpur yesterday at a signing ceremony to mark the Oilcorp-Amanah Raya tie-up.

Under the deal, Amanah Raya will also secure up to RM80 million to fund the project. It is entitled to half of the project's pre-tax profit, or a guaranteed sum of at least RM60 million.

"We are already talking to a few parties for the outright sale of the office block," said Amanah Raya group managing director Datuk Ahmad Rodzi Pawanteh.

Oilcorp runs an existing 980-room hotel - the "D'Tiara Beach Resort" in Port Dickson, Negri Sembilan..

The company may eventually sell and lease back its four properties, including two other upcoming facilities, each at Genting Highlands, Pahang, and Pulau Indah, Klang

The business model is quite similar to the "timeshare" concept where one buys a percentage of interest in a vacation property from resort owners for a specific period.

Oilcorp's real-estate portfolio also includes bungalows in Genting Highlands and Pulau Indah, Pua said in an interview recently.

Collectively, its undertakings in Kuala Lumpur, Genting Highlands, and Pulau Indah will have a collective gross development value of about RM1.2 billion.

The company is working towards listing its property arm on the London Stock Exchange's Alternative Investment Market.

Oilcorp's first quarter to March 31 2007 net profit tripled (200 per cent) to RM5.1 million, or 2.83 sen a share from a year ago. Revenue rose more than five fold (406 per cent) to RM82.5 million.

Its stock rose one per cent, or two sen, to close at RM1.41, valuing the firm at RM258.6 million yesterday.

The stock's price had added 36 per cent so far this year, outperforming the broader market's 18 per cent gain.

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rite in the middle of KL and Kl sentral.. great location! :cool:

D'tiara Suites Guarantees 7 Pct Annual Returns For 5 Years.
KUALA LUMPUR, Nov 15 (Bernama (http://www.bernama.com.my/bernama/v3/news_lite.php?id=296450))

work has started! :cheers:

GOOD! KL is in urbanize!

D’Tiara Corp for LSE listing by end-March
by Lee Yu Tang, 04 Jan 2008 2:46 PM
THEEDGEDAILY

PETALING JAYA: Oilcorp Bhd expects to complete the listing of its wholly owned resort management company D’Tiara Corp Sdn Bhd on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) by the end of March.

“We have almost completed the due diligence (process),” its executive director Pua Yow Liang said.

Group managing directior Sunny Ng said the results of the company valuation would be known in mid-January.

The exercise was also subject to the final consent of the nominated adviser, Libertas Capital Group Plc.

Oilcorp shareholders approved yesterday D’Tiara Corp’s proposed acquisition of Town and Country Properties Sdn Bhd for RM21.5 million.

Town and Country Properties is currently developing a holiday resort in Genting.

D’Tiara Corp owns and manages D’Tiara Beach Resort in Port Dickson and is awaiting the completion of its corporate office and hotel suite project at KL Sentral.

Pua said D’Tiara had also received planning approval for its waterfront resort project in Pulau Indah. “We are in the process of submitting the building plan. We are looking to commence sales by June or July.”

He expected the four resorts to generate between RM150 million and RM200 million in annual revenue beginning in 2011.

Meanwhile, Ng said Oilcorp had at least RM800 million in its order book, comprising RM300 million domestic oil fabrication projects and RM500 million overseas projects. The orders would keep the company busy for more than three years.

bad location lah project ni....

no lah..it will fulfil Brickfeild as well with scott villa, scot sentral and 633 Residency since they were such new/on-going projects!

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hah! im not soo sure bout relaxing when u hav a apartment sittin rite in the middle of KL but.. rizal.. is that a bad location? d'u mean bad for investment..

i also think it is a bad location....if you drive, yes...no problem at all to access, but no public transport going around this area. you might take LRT and stop at either Pasar Seni or KL sentral station...but too far to walk...

plus, there is no 'complimentary business' around like...7-eleven or somethin....just a chinese church next to it...

for a RM500k condo....better get the Capers....

D'Tiara aims to raise RM300m in UK
By Roziana Hamsawi Published: 2008/03/22
BusinessTimes

The property arm of Oilcorp will kick off roadshows for the London listing in the Middle East and Europe next month

D'TIARA Corp Ltd, the property arm of Oilcorp Bhd, expects to raise an estimated RM300 million from an initial public offering (IPO) in London, the UK.

D'Tiara executive director Pua Yow Liang said the money will be used to fund its projects and as working capital for the D'Tiara Beach Resort in Port Dickson, Negri Sembilan.

The actual proceeds will depend on investor interest, which will be gauged during roadshows for the IPO, Pua told reporters after Oilcorp's extraordinary general meeting (EGM) in Kuala Lumpur yesterday.

The roadshows, which will kick off next month, will cover the Middle East and Europe. D'Tiara's shares are due to be listed on the London Stock Exchange's AIM in May.


D'Tiara has three ongoing projects valued at RM2 billion: D'Tiara Waterfront Resort in Selangor, D'Tiara Leisure and Health Resort in Pahang and D'Tiara Office and Hotel Suites in Kuala Lumpur.

D'Tiara will also be posting its first-ever profits after three years of losses.

Oilcorp's shareholders approved the proposed IPO of D'Tiara at the EGM yesterday.

As part of the listing plan, Oilcorp is selling its entire interest in D'Tiara Corp Sdn Bhd for RM119.75 million in exchange for new shares in D'Tiara.

klcc property showcase - 23/3/08

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Thanks rizalhakim, new god of updates :master:

^^haha..thx greg...ill take dat as a compliments....i juz love wat im doing and i want to share it with otherz!!!..:banana::banana:

^^haha..thx greg...ill take dat as a compliments....i juz love wat im doing and i want to share it with otherz!!!..:banana::banana:

It was meant to be a compliment rizalhakim. With your updates and fotos you are a great enrichment to this forum. :okay:

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currently 80% sold...unsold mostly for bumi units....

emm right next to sentral but no tunnel or bridge to link it!!!

http://www.dtiara.com/properties/images/office_and_hotel_suites/dohs_14.jpg

More update pics [url]http://www.dtiara.com/properties/office_and_hotel_suites/index.html

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AmanahRaya Corporate Tower and D'Tiara Hotel Suites
- 35 and 33-storey towers
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Construction blog from the site manager
http://mcsbso.blogspot.com/

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cuurently at level 6/7

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by Razlisyam Razali
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by nautical2k
http://www.flickr.com/photos/joshsjackson/3635681933/

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cool

Now KL city is going to be a highly urbanized city. I hope they can do some changes to that!

http://www.picamatic.com/show/2009/06/22/12/19/4081614_1024x677.JPG

- Lot A, B, C, D, G @ KL Sentral are truly highly urbanized city!
- Setia Eco City (Future)

Now KL city is going to be a highly urbanized city. I hope they can do some changes to that!

http://www.picamatic.com/show/2009/06/22/12/19/4081614_1024x677.JPG

- Lot A, B, C, D, G @ KL Sentral are truly highly urbanized city!
- Setia Eco City (Future)

Eh? How do you mean? We want a highly urbanized city!

What an exciting city! :)

ขอบคุณครับ

:lol:

:lol:

Entering KL!
by strobsn
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by gobiraja
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this site is rising fast:banana:

From flickr

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Oilcorp continues existing operations despite PN 17 status
Note: D'Tiara is a subsidiary of Oilcorp Bhd.

PETALING JAYA: Oilcorp Bhd will continue to be operational and make every effort to complete its existing contract, the company said in a filing to Bursa Malaysia today.

However, as a PN 17 affected issuer, it would have an impact on securing new contracts or raising finance for new projects, it said.

The company, involved in oil & gas, special projects, hotel, resort operation and property investment, and deep-sea fishing, became an affected issuer after it failed to service its interest payment due on Sept 17.

Oilcorp said in working towards restructuring its financial conditions, it would soon announce the appointment of a principal advisor. The shares, severely hit after they resumed trading on Wednesday, have lost almost 36% in value in the past three days. The share price fell 2 sen to 17 sen before the midday break.

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From flickr

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From flickr

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-delete-

From flickr

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ini swiss garden bukan dtiara

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^^nice update..it's rising so fast.

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Fire strikes office-hotel complex under construction in KL (Updated)


KUALA LUMPUR: A fire broke out on the 23rd floor of the D.Tiara office-cum hotel suite under construction on Jalan Tun Sambanthan in the Brickfields area here on Monday.

The fire had started at 8pm but fire and rescue personnel from five fire engines had brought the fire almost under control at 9.15pm.

Traffic ground to a near stand-still in surrounding areas are fire engines and rescue trucks rushed to the scene.

The project is supposed to be a 35-storey building.

A Bangladeshi construction worker Al-Amin, 27, said they were welding on the top floor when he and his workmates suddenly saw the fire.

The workers managed to flee the scene. No casualties have been reported so far.

The fire could be seen from 2km away and was first reported by Malaysians on social media network Twitter

http://thestar.com.my/archives/homepage/2010/1/18/fire.jpg

surely gonna stop work for 3 months ?

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is this the one that caught fire?

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With new 'owner' - bank..... do we have any update on this in term of finance?

Still not sure whether this is a good investment???? Re-sale value??? Who is going to buy a re-sale hotel suite??

Any comment is welcome.

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From flickr

http://farm5.static.flickr.com/4016/4445289896_066a52d897_b.jpg

http://farm3.static.flickr.com/2755/4444518251_55f8be00d1_b.jpg

^^not bad:cheers:

D'Tiara Project U/C Progress:

http://farm5.static.flickr.com/4055/4450198245_ee043db09b_b.jpg

From Flickr

http://farm3.static.flickr.com/2800/4449785717_d28f8bdcab_b.jpg

^^ Look at that area...:ohno:

OilCorp’s D’Tiara sells property arm
Published: 2010/03/23

OILCORP Bhd’s unit D’Tiara Corp Sdn Bhd has agreed to sell property arm Magic Coast Sdn Bhd to Amanahraya Development Sdn Bhd for RM29 million.

The sale was necessary to ensure that the joint-venture project, Amanahraya Corporate Tower & D’Tiara Hotel Suites, continues since Oilcorp would have difficulty in procuring end-financing due to its Practice Note 17 status.

The project development cost is RM374.4 million and is expected to be completed by the end of this year.

^^ Look at that area...:ohno:

kalau crop skyline,nampak cam negara mundur...:ohno:

Yeah.. it now looks like a downtown of some 3rd world cities.

But its okay... I think within the next 10 years, when KL Sentral is entirely completed, commercial pressure will uplift the profile of Brickfields. Other corporation would want to invest in that area as well. As a matter of fact, it already happened now. Just look at how Bank Rakyat choose to built their new HQ across the road from KL Sentral. They could have built it anywhere in Klang Valley, but they choose to be there because of the prestige associated with KL Sentral. I think in due time, similar moves will be made by other corporation as well. All those vacant lots, the car washes and the cheap 2-storey shoplots around Brickfields will give in if the price is right..

^^hopefully..:cheers:

dat place is Petaling Street right??

dat place is Petaling Street right??

yup..can see the roof.also can see plaza first nationwide at jln tun H.S Lee..this pic could be taken from Ancasa hotel

From Flickr

http://farm3.static.flickr.com/2800/4449785717_d28f8bdcab_b.jpg

wow i like that little colorful building. kan elok kalau semua property owner paints their building with such color....sweet!

http://img151.imageshack.us/img151/2739/p1000858d.jpg

From flickr

http://farm4.static.flickr.com/3494/4565737313_035020ca75_b.jpg

Painting has started:
http://i346.photobucket.com/albums/p436/darrenyeo/IMG_0172.jpg

^^ This is going on well,thanks once more for the pic!! :cheers:

http://farm5.static.flickr.com/4070/4575749674_01abfd0726_o.jpg

From flickr

http://farm5.static.flickr.com/4017/4571341484_0e7e927202_b.jpg

^^ Pic lama bro,refer a post above you,it shows the current progress. :)

http://farm5.static.flickr.com/4015/4589445474_be79366748_o.jpg

http://farm4.static.flickr.com/3560/4598593712_d669508bbe_o.jpg

Had my cam with me today:D

http://i346.photobucket.com/albums/p436/darrenyeo/_MG_0230.jpg

http://i346.photobucket.com/albums/p436/darrenyeo/_MG_0231.jpg

D Tiara Development Progress:

http://farm5.static.flickr.com/4018/4611535241_82873e50e1_b.jpg

http://farm4.static.flickr.com/3353/4611536967_ae8996d841_b.jpg

http://farm2.static.flickr.com/1233/4611550171_8fbdea2ba2_b.jpg

http://farm5.static.flickr.com/4072/4621751918_3c7d58a1e2_o.jpg

is this project still in progress?

passed by it and it looks very quiet and low activity...

http://farm5.static.flickr.com/4035/4714661276_95fa8f05c9_b.jpg

http://farm5.static.flickr.com/4073/4738622929_70c7822c65_b.jpg

http://farm5.static.flickr.com/4100/4748380805_5bdef1d10e_b.jpg

Project's progress.

http://i116.photobucket.com/albums/o10/9MMAR/Skyscrapercity/DSC09585.jpg

http://a.imageshack.us/img716/9519/dsc0071q.jpg

dats nice

From flickr
by SJP-DH

http://farm5.static.flickr.com/4138/4898660601_019e2e8a7c_b.jpg

http://farm5.static.flickr.com/4091/4999337777_fc44ec0bbc_b.jpg
http://www.flickr.com/photos/marcb-photos/4999337777/

Saw a large Best Western banner hanging on the side of the building... Also checked their website and apparently the hotel + suites are confirmed to be managed by BW under their Premier brand. This hotel will be called Best Western Premier Dua Sentral and the website is @ www.duasentral.com.my.

No wonder Best Western pulled out of Seri Pacific; they are going to handle this newer property very soon! :)

Located right in the middle between KL Sentral and the Old KL Railway Station, I hope the hotel management will offer free shuttles from the hotel to these 2 stations. They should also push DBKL for a good pedestrian pavement walkway beside the existing road from the hotel to KL Sentral, so that potential customers can walk to the hotel from the station and vice versa with comfort during their stay.

Introducing...
DUA SENTRAL
http://duasentral.com/

http://img651.imageshack.us/img651/4582/duasentral.jpg

http://farm5.static.flickr.com/4113/5023591876_48a5771215_b.jpg

http://farm5.static.flickr.com/4092/5023592370_84ab387c37_b.jpg

http://farm5.static.flickr.com/4085/5050197892_b2d056aea3_z.jpg

http://farm5.static.flickr.com/4104/5067788971_6252047e50_b.jpg

http://starproperty.my/CMSFiles/image/newdev/New%20Image.jpg

http://farm5.static.flickr.com/4067/5151276897_28fc7a1804_b.jpg
http://farm2.static.flickr.com/1175/5150793135_e0aa73c9f1_b.jpg

http://farm2.static.flickr.com/1076/5150793311_b364055f0e_b.jpg

current progress @ 14-12-10
http://i565.photobucket.com/albums/ss97/ethanielsiaw/IMG_4770.jpg

kl look dense in last pic...look like hongkong

http://farm6.static.flickr.com/5167/5273554154_4ddecb8462_b.jpg

Any idea when will this be complete & hotel will become operational?

Any idea when will this be complete & hotel will become operational?

Advertisements state Q1 2011.

TYW, Sze can you maybe change title to Dua Sentral. Thanks:)

I heard my company bought a building in this new place and we are all going to have to move there before the end of this year. I hate to move from my current office in Bangsar.:ohno:

I heard my company bought a building in this new place and we are all going to have to move there before the end of this year. I hate to move from my current office in Bangsar.:ohno:

hehe who is ur company?

hehe who is ur company?

Tenaga. My friend said Tenaga bought the entire building at quite a bargain price. A few years ago Tenaga planned to build a new HQ in Bangsar near my office now. But that plan has apparently been shelved. So this building is supposed to fill in the vacuum.

Tenaga. My friend said Tenaga bought the entire building at quite a bargain price. A few years ago Tenaga planned to build a new HQ in Bangsar near my office now. But that plan has apparently been shelved. So this building is supposed to fill in the vacuum.

patutlah senyapjer projek TNB Tower...:bash::bash:

lorh...syg nyer menara tnb tue x jadi :(

patutlah senyapjer projek TNB Tower...:bash::bash:

I think Amanah Raya has bought the entire project. They will use office tower for themselves & may rent out office space.

The hotel will be Bestwestern Premier starting June 1 2011.

http://farm6.static.flickr.com/5244/5380551502_904b0f5f83_b.jpg

http://farm6.static.flickr.com/5100/5401223132_9af4523bb5_b.jpg

http://i763.photobucket.com/albums/xx276/afiqnadzir/DSC07291.jpg

KUALA LUMPUR: Tenaga Nasional Bhd (TNB) has proposed to acquire a 33-storey corporate tower with common facilities and 460 parking bays which will be used to house its operations around Petaling Jaya and Bangsar for RM232 million.

In a filing to Bursa Malaysia on Monday, Jan 31, TNB said it had entered into a sale and purchase agreement (SPA) with Magic Coast Sdn Bhd (MCSB) to buy the building, which is part of a development known provisionally as Dua Sentral which is 91% completed.

Dua Sentral which also comprises hotel and residential suites is scheduled for completion six months after the SPA date.

The acquisition is deemed a related-party transaction as a substantial stake in TNB is held by Khazanah Nasional Bhd, a unit of Ministry of Finance, Incorporated (MoF). MCSB, on the other hand, is owned by Amanah Raya Bhd, which is in turn owned by MoF.

The group expects to use internally-generated fund to buy the building, and the consideration works out to RM540 psf, said TNB.

TNB non-independent directors Tan Sri Leo Moggie, Datuk Seri Che Khalib Mohamad Noh, Datuk Puteh Rukiah Abd Majid, Datuk Mohammad Zainal Shaari and Datuk Ir Azman Mohd are deemed interested in the transaction, as they are the nominees of MoF and Khazanah, and will thus abstain from deliberating and voting on the relevant resolutions at the board meeting.

TNB should have a better designed building for corporate image just like Telekom.

this building looks crap! :bash:

dont like the grey facade......

http://farm5.static.flickr.com/4079/5438878398_d070e95a0a_b.jpg
http://www.flickr.com/photos/hboinay/5438878398/in/set-72157625993321592/

http://i763.photobucket.com/albums/xx276/afiqnadzir/DSC07290.jpg

http://farm6.static.flickr.com/5266/5624766237_cff22af5c1_b.jpg
http://farm6.static.flickr.com/5061/5625355926_b84eecd274_b.jpg

the white part of the office tower makes it UGLY...

http://farm4.static.flickr.com/3563/5756317481_9d20a225b3_b.jpg
http://www.flickr.com/photos/sabie01/5756317481/

wah dis pic makes KL loook sooo greeen... like a peaceful little town

http://farm4.static.flickr.com/3428/3394187012_41fc6eb9c2_b.jpg (http://www.flickr.com/photos/8112331@N08/3394187012/)
Old one-two (http://www.flickr.com/photos/8112331@N08/3394187012/) by GeeTwoG'ray (http://www.flickr.com/people/8112331@N08/), on Flickr
http://farm6.static.flickr.com/5023/5679413195_fd2fa957f8_b.jpg
http://www.flickr.com/photos/patrick_c/5679413195/

wah dis pic makes KL loook sooo greeen... like a peaceful little town

:lol:At the rate its going i wonder for how long?

http://img708.imageshack.us/img708/8715/image1051.jpg (http://imageshack.us/photo/my-images/708/image1051.jpg/)

Uploaded with ImageShack.us (http://imageshack.us)

http://farm7.static.flickr.com/6144/5985075747_a6401decb3_b.jpg (http://www.flickr.com/photos/sadetutka/5985075747/)
Way too early (http://www.flickr.com/photos/sadetutka/5985075747/) by sadetutka (http://www.flickr.com/people/sadetutka/), on Flickr

http://farm6.static.flickr.com/5112/5897071318_0694e1f841_b.jpg (http://www.flickr.com/photos/lenull/5897071318/)
Old railway station in KL (http://www.flickr.com/photos/lenull/5897071318/) by Lenull (http://www.flickr.com/people/lenull/), on Flickr

http://farm7.static.flickr.com/6196/6066889875_016a5c1e46_b.jpg (http://www.flickr.com/photos/annaadi/6066889875/)
IMG_5820 (http://www.flickr.com/photos/annaadi/6066889875/) by anaadi+ (http://www.flickr.com/people/annaadi/), on Flickr