pedang
August 27th, 2007, 05:34 AM
15 bid for STC‘s relocation
Job valued at RM500-RM600 mil, new turf club to be in the north along North-South Highway
By Yap Lih Huey, 10.57am
Some 15 major property players are eyeing a RM500 million to RM600 million contract to relocate and build the new Selangor Turf Club (STC) premises outside of Kuala Lumpur.
STC deputy chairman Datuk Richard Cham says the developers have submitted their proposals for the relocation, design and construction of the new premises since tenders were called in November.
Among the developers are Hong Leong Properties Bhd, Lion Land Bhd, SP Setia Bhd, Gamuda Bhd, Talam Corporation Bhd and MK Land Holdings Bhd.
The others include Arab-Malaysian Property Trust Management Bhd, Mah Sing Group Bhd, Berjaya Land Bhd and Tan & Tan Developments Bhd.
The turf club, which is currently located in Sungai Besi, will be relocated because of traffic congestion in the area and unsuitability of the land.
Cham tells FinancialDaily that the new site for the STC premises should ideally be located in the northern region along the North-South Highway.
It is learnt that there are three prominent developers that own large land banks in the northern area — Talam, Berjaya and Land & General Bhd with 4,000 acres, 16,400 acres and 2,700 acres respectively.
STC has been located on a tin mining land with a 90-year lease in Sungai Besi since 1993 when it moved from Jalan Ampang. Cham says STC wants to relocate to a freehold land.
The previous location at Jalan Ampang is now occupied by the Petronas Twin Towers, a hotel, retail and residential, recreational and entertainment facilities.
The Jalan Ampang land was bought by businessman T Ananda Krishnan.
“We will only appoint one developer to undertake STC’s relocation plan.
“It is practical to let one developer do it rather than appoint too many players for this project,” Cham says.
“The new STC would need a minimum of 600 acres of land, which would come from the appointed developer’s land bank,” he added.
“If there’s excess of land after developing the new STC, the developer can build a golf course or a sports complex around the new STC.
“It’s totally up to the developer to decide what they want to do with the excess land,” says Cham.
Cham cites traffic congestion and the sunken land in its current premises to be major factors to relocate.
“We received a lot of complaints from the jockeys. During the rainy seasons, the tin mining land is dangerous for the jockeys,” he says.
“The current premise is too small for us to develop world-class facilities. We want STC to be a racing resort.
“We want to convert horse racing into a tourism sport. This is in line with the government policy to promote equestrian sports,” Cham says.
On Nov 24, STC placed an advertisement in a local newspaper calling for tenders on the proposed relocation from its current premises.
The closing date for developers to submit tenders has since been extended from Dec 23, 2003 to Jan 31, 2004.
Once the tender closes, STC would appoint a consulting company to look into the proposals for the new turf club.
“It would take us a few months to decide. We will also have to call for an extraordinary general meeting by March or April 2004 to get majority approval (on the relocation plans) from our club members,” Cham says.
“So far, feedback from our members have been positive,” he adds.
Under its club constitution, each member would get a 10,000 sq ft plot of land in the new STC site. STC has about 600 members.
Membership into STC is by invitation from its committee members.
In 2003, STC recorded RM800 million in total bets. Cham forecasts bets for next year will see a 10% increase to RM880 million due to a more favourable economic condition.
In 2002, total bets stood at RM500 million. STC takes 9.2% from the total bets.
It is learnt that based on total bets, STC contributed RM55 million and RM88 million in 2002 and 2003 to the government's revenue.
Job valued at RM500-RM600 mil, new turf club to be in the north along North-South Highway
By Yap Lih Huey, 10.57am
Some 15 major property players are eyeing a RM500 million to RM600 million contract to relocate and build the new Selangor Turf Club (STC) premises outside of Kuala Lumpur.
STC deputy chairman Datuk Richard Cham says the developers have submitted their proposals for the relocation, design and construction of the new premises since tenders were called in November.
Among the developers are Hong Leong Properties Bhd, Lion Land Bhd, SP Setia Bhd, Gamuda Bhd, Talam Corporation Bhd and MK Land Holdings Bhd.
The others include Arab-Malaysian Property Trust Management Bhd, Mah Sing Group Bhd, Berjaya Land Bhd and Tan & Tan Developments Bhd.
The turf club, which is currently located in Sungai Besi, will be relocated because of traffic congestion in the area and unsuitability of the land.
Cham tells FinancialDaily that the new site for the STC premises should ideally be located in the northern region along the North-South Highway.
It is learnt that there are three prominent developers that own large land banks in the northern area — Talam, Berjaya and Land & General Bhd with 4,000 acres, 16,400 acres and 2,700 acres respectively.
STC has been located on a tin mining land with a 90-year lease in Sungai Besi since 1993 when it moved from Jalan Ampang. Cham says STC wants to relocate to a freehold land.
The previous location at Jalan Ampang is now occupied by the Petronas Twin Towers, a hotel, retail and residential, recreational and entertainment facilities.
The Jalan Ampang land was bought by businessman T Ananda Krishnan.
“We will only appoint one developer to undertake STC’s relocation plan.
“It is practical to let one developer do it rather than appoint too many players for this project,” Cham says.
“The new STC would need a minimum of 600 acres of land, which would come from the appointed developer’s land bank,” he added.
“If there’s excess of land after developing the new STC, the developer can build a golf course or a sports complex around the new STC.
“It’s totally up to the developer to decide what they want to do with the excess land,” says Cham.
Cham cites traffic congestion and the sunken land in its current premises to be major factors to relocate.
“We received a lot of complaints from the jockeys. During the rainy seasons, the tin mining land is dangerous for the jockeys,” he says.
“The current premise is too small for us to develop world-class facilities. We want STC to be a racing resort.
“We want to convert horse racing into a tourism sport. This is in line with the government policy to promote equestrian sports,” Cham says.
On Nov 24, STC placed an advertisement in a local newspaper calling for tenders on the proposed relocation from its current premises.
The closing date for developers to submit tenders has since been extended from Dec 23, 2003 to Jan 31, 2004.
Once the tender closes, STC would appoint a consulting company to look into the proposals for the new turf club.
“It would take us a few months to decide. We will also have to call for an extraordinary general meeting by March or April 2004 to get majority approval (on the relocation plans) from our club members,” Cham says.
“So far, feedback from our members have been positive,” he adds.
Under its club constitution, each member would get a 10,000 sq ft plot of land in the new STC site. STC has about 600 members.
Membership into STC is by invitation from its committee members.
In 2003, STC recorded RM800 million in total bets. Cham forecasts bets for next year will see a 10% increase to RM880 million due to a more favourable economic condition.
In 2002, total bets stood at RM500 million. STC takes 9.2% from the total bets.
It is learnt that based on total bets, STC contributed RM55 million and RM88 million in 2002 and 2003 to the government's revenue.