E&O PROPERTY TEAMS UP WITH LION GROUP TO BUILD LUXURIOUS SERVICE APARTMENTS IN KL’S GOLDEN TRIANGLE
28 Nov, 2007 -



Kuala Lumpur, 28 November 2007: E&O Property Development Berhad (E&OProp), together with the Lion Group will jointly develop a 4.13 acre land (former St Mary’s school site) located on Jalan Tengah / Jalan P. Ramlee, in the heart of Kuala Lumpur’s Golden Triangle.

The Development Order has been received in May this year, for the development of 3 blocks of 28-storey luxurious service apartments which will capitalise on the current trend of affluent professionals from Malaysia and overseas choosing to work and live in the city, taking full advantage of the increasingly cosmopolitan lifestyle within Kuala Lumpur’s central business district. The 3 towers of service apartments will surround an expansive urban sanctuary, termed as the development’s ‘central park’ (See Master Layout and Site Plan below). Total net area for the development is estimated at 940,000 sf, with approximately 660 units of sizeable service apartments. The development is targeted for launch by mid-2008.

There will also be a retail and F&B component, which spans approximately 35,000 sf – to provide ancillary amenities that suits the lifestyle of the expatriate and business community who chooses to live and work within the city centre. Due to its strategic location fronting Jalan Tengah, the surrounding community will also have the opportunity to enjoy these amenities which will largely be food and beverages outlets.

The groundbreaking ceremony at the former St Mary’s school site was held today. Right Reverend Ng Moon Hing (Bishop of West Malaysia) representing The Synod of the Diocese of West Malaysia, was in attendance to bless and officiate the ceremony. The ceremony was witnessed by E&O Property Development Berhad’s Managing Director, Dato’ Terry Tham Ka Hon as well as the Lion Group’s Property Division Executive Director, Mr Lionel Cheng.

E&O Property Development Berhad’s Managing Director, Dato’ Terry Tham Ka Hon said, “Today’s groundbreaking ceremony signifies a new beginning for the redevelopment of the former St Mary’s school land. We are one step closer to realising the concept of this development, with the blessing of The Synod of the Diocese of West Malaysia as well as our working partner, the Lion Group. This partnership truly provides an excellent opportunity for us to combine our expertise and resources – especially in development in prime urban centres which continuously attracts buyers and investors due to its attractive capital appreciation and rental yields.”

Mr Lionel Cheng, the Lion Group’s Property Division Executive Director added, “Our Group has full confidence in the potential of the site given its strategic location and the emergence of Kuala Lumpur as a world–class city. We feel this land can be transformed into a significant landmark development and we have looked into every aspect of achieving this goal. We are very pleased to establish a strategic partnership with E&O Property who are well-known for their innovative products. We believe our combined efforts and expertise will add value to the success of the project.”

The redevelopment of the former St Mary’s school land is undertaken through a 50%: 50% Joint Venture Company Mergexcel Property Development Sdn Bhd (Mergexcel), between Ribuan Imbangan Sdn Bhd (a wholly-owned subsidiary of E&OProp) and Lion Courts Sdn Bhd (a wholly-owned subsidiary of Lion Industries Corporation Berhad). In May 2006, Mergexcel acquired the 4.13 acre Freehold land from The Synod of Diocese of West Malaysia, the original owner of the St Mary’s school and the said land.

The former St. Mary’s School land was originally purchased by the Lion Group from The Synod of the Diocese of West Malaysia. Under the original purchase agreement, the Lion Group has since fulfilled its obligations in providing a new purpose-built school in Selayang for the relocation of the St Mary’s School.

As set out in DBKL’s Kuala Lumpur Structure Plan 2020, the relocation of schools to Klang Valley suburbs, follows DBKL’s aim to alleviate traffic congestion within the city, while increasing the resident population of KL city to 245,600 people in 2020 from 128,721 in 2000.

MASTER LAYOUT PLAN

http://eop.e-o-group.com/_repository/eop_v2/media_releases/mergexcel_masterlayout.jpg


http://eop.e-o-group.com/_repository/eop_v2/media_releases/mergexcel_siteplan.jpg

progress

by Pandilex

http://farm3.static.flickr.com/2079/2131816603_ccc920fe92_b.jpg

proposal 1

http://img140.imageshack.us/img140/9137/networkcitydl4.jpg



proposal 2

http://img171.imageshack.us/img171/6058/stmaryhh8.jpg

kenapa tak robohkan foodcourt belakang the weld? spoillah!!!
hopefuly dis wil be another gr8 project....but 28flr? add another 10 more storey lah :P coz otherwise ppl cant c it once its complt......

so far 2 sekolah sudah hilang..... 1st bb gurl skool n later im sure da same thing wil hapen 2 da chunghwa skool nex 2 hotel maya......and then 2 bukit nenas skool.....

kenapa tak robohkan foodcourt belakang the well? spoillah!!!
hopefuly dis wil be another gr8 project....but 28flr? add another 10 more storey lah :P coz otherwise ppl cant c it once its complt......

dont worry brohter. nie baru parcel 1. ade lagi parcel 2 nnti :)


Land at St. Mary’s – Parcel I, Kuala Lumpur City Centre
Commercial development of offices, retail space and service apartments on 4.13 acres, the previous site of St. Mary’s School in the heart of Kuala Lumpur’s Golden Triangle, in a joint venture partnership with the Lion Group.

Land at St. Mary’s – Parcel II, Kuala Lumpur City Centre
Sleek, modern commercial tower of executive suites and corporate offices developed exclusively by Eastern & Oriental Berhad, adjoining St. Mary’s Parcel I.

28 not enuf....sebab dikelilingi oleh supertall towers, the weld, mas, promet, affin tower, aetna genesis, kfc tower.... later tak nampak.....

E&O PROPERTY TEAMS UP WITH LION GROUP TO BUILD LUXURIOUS SERVICE APARTMENTS IN KL’S GOLDEN TRIANGLE
28 Nov, 2007 -


http://eop.e-o-group.com/_repository/eop_v2/media_releases/mergexcel_masterlayout.jpg





next to the weld....future building lot 59...public mutual building???????

28 not enuf....sebab dikelilingi oleh supertall towers, the well, mas, promet, affin tower, aetna genesis, kfc tower.... later tak nampak.....

yeah..such a prime location should build taller lah.


hope DBKL wont approve the height he he :lol:

so far 2 sekolah sudah hilang..... 1st bb gurl skool n later im sure da same thing wil hapen 2 da chunghwa skool nex 2 hotel maya......and then 2 bukit nenas skool.....

yup, i strongly support DBKL's structure plan to move schools form center KL. oh gawd...u can see during school holiday season...KL's traffic especially in the morning is super smooth...:okay:

in Johor Bahru...





http://www.yarchitects.com/images/3.twintower_tb.JPGhttp://www.yarchitects.com/images/t3_2_tb.JPG
Gold55 Towers - twin 55 storeys
johor bahru
2006 - 2009

Gold55 when completed in 2009 will be the tallest towers in the southern region. At 55 stories, they are link two thirds up with a double-storey sky deck. The twin towers will house 650 service apartments while in the forecourt is a 150-suite boutique hotel. A timeless modern language is chosen for this architecture. The all gold rendition promises to please!


http://www.yarchitects.com/images/rs_tb.jpghttp://www.yarchitects.com/images/rasa2_tb.JPG
RS Service Apartments - 53 storey
johor bahru
in progress 2007

This service apartment is v-shaped in plan. Sited on a prime land in the city, it rises 53 stories to become one of the tallest buildings in the city of Johor Bahru. The void area created by the v-shape forms the circulation and ventilated corridors. Air is diverted into the void by 2 extended wind scoops. Perforated panels not dissimilar to the proposed MBJB building screen the car parking podium. Walls of creepers also feature in an attempt to provide vertical greening to reduce heat gain and CO2 emissions. Sky bungalows at the top floor afford great views.


28flr compared to dis projex in jb 55 n 53flr......lion group shud think again.....

by Pandilex

http://farm3.static.flickr.com/2231/2131808975_e367fd9873_b.jpg

30/12/07
http://a197.ac-images.myspacecdn.com/images01/50/l_37604834d4bc3910b5e6c3c9c6fc2a4c.png
http://a876.ac-images.myspacecdn.com/images01/58/l_39658810fc8818afa61cbef9d18fcb2b.png
http://a774.ac-images.myspacecdn.com/images01/77/l_12dbedf1a1f8a3f8dbd6078edc1fc19d.png

30/12/07
http://a276.ac-images.myspacecdn.com/images01/91/l_8f48adc7daaf4670ac9cce597168a933.png
http://a739.ac-images.myspacecdn.com/images01/106/l_29d6d4a05d106e3d807145bd3ffc097a.png
http://a965.ac-images.myspacecdn.com/images01/5/l_4e3bcddc1555affb06a9f4fea81b39ac.png
http://a587.ac-images.myspacecdn.com/images01/102/l_f88e7a212ddd9821cec284199787f4fa.png
http://a180.ac-images.myspacecdn.com/images01/81/l_08abd1c055536ff500dd154873b79dfb.png

E&O PROPERTY TEAMS UP WITH LION GROUP TO BUILD LUXURIOUS SERVICE APARTMENTS IN KL’S GOLDEN TRIANGLE
28 Nov, 2007 -


http://eop.e-o-group.com/_repository/eop_v2/media_releases/mergexcel_masterlayout.jpg





next to the weld....future building lot 59...public mutual building???????

http://a727.ac-images.myspacecdn.com/images01/103/l_44d9a3bad6315ec2969e8b1f75870506.png

http://a876.ac-images.myspacecdn.com/images01/58/l_39658810fc8818afa61cbef9d18fcb2b.png

Lion, E&O Property team up in apartment project
Published: 2007/11/28
BusinessTimes

The service apartment project is to be completed by mid-2008

E&O Property Development Bhd and the Lion Group will jointly develop three blocks of 28-storey service apartments in Jalan Tengah/Jalan P. Ramlee, Kuala Lumpur.

The development order was received by the two parties in May this year. The project is to be completed by mid-2008.

Total net area for the development is estimated at 940,000 sq ft, with about 660 units of sizeable service apartments.

The area will also have a retail and food and beverage component spanning 35,000 sq ft.

"This partnership truly provides an excellent opportunity for us to combine our expertise and resources, especially in development in prime urban centres, which continuously attracts buyers and investors due to its attractive capital appreciation and rental yields," E&O Property managing director Datuk Terry Tham Ka Hon said in a statement yesterday.

Lion Group's property division executive director Lionel Cheng said the group is confident of the potential of the site given its strategic location.

The project will be undertaken by a joint-venture company, Mergexcel Property Development Sdn Bhd.

E&O Property owns a 50 per cent stake in Mergexcel through its subsidiary, while Lion Group's subsidiary owns the rest.

In May last year, Mergexcel bought 1.65ha freehold land from The Synod of Diocese of West Malaysia.

The Synod was the original owner of the St Mary's school and the land on which it sits. St Mary's school will be relocated to Selayang.

only 28 storey......
What I know is Lot 59 owned by Public Bank, and Public Mutual is d subsidiary. I think Public Mutual should move their current HQ at Bandar Sri Damansara to the city centre.

^^ public mutual project n e@o project 2 dif projects......e@o 3 towers 28 storey located at previously st mary skool n da future public mutual tower located next to the weld

^^ public mutual project n e@o project 2 dif projects......e@o 3 towers 28 storey located at previously st mary skool n da future public mutual tower located next to the weld

I know there are two different lots, can see it from the master layout plan :)

by TheWorldSeeThruTheLens

http://farm3.static.flickr.com/2127/2167782713_60bf301349_o.jpg

i hope tis project not be like berjaya central park...... dun like 'bagai melepas batuk ditangga' k....

What is the final desgin? I see some empty lot beside that!!! More tower!

by Ervan

http://img26.picoodle.com/img/img26/4/1/18/f_02m_fa03b95.jpg

A bit of a waste to use this huge piece of land for just 3 28-storey towers:ohno:

I 100% Agree with u greg!What a waste!The strange thing about this project is that it doesnt have a proper frontage!Unless they still trying to get that lot next to the MAS building.This project is long overdue more like 10 years!None of the preposed pictures i have seen so far looks promising!Its a very good location but If jalan Tengah seem to be the only access to the building i will think twice before buying.

by gek-ko

http://farm3.static.flickr.com/2328/2214289501_450e3638b0_b.jpg

Maybe it's high in metres!!!! (3 towers 28-storey)
by yummiec00kies

http://farm3.static.flickr.com/2088/2223949638_27e012f3a0_o.jpg

by r1g2b3

http://farm3.static.flickr.com/2322/2223421546_423f062223_b.jpg

by gek-ko

http://farm3.static.flickr.com/2328/2214289501_450e3638b0_b.jpg

it's a fight with Menara Wakaf....emm, which one should i support...

by mle0ng

http://farm3.static.flickr.com/2125/2245842075_9458a01af3_b.jpg

boih.. i can stare at this pics the whole day.. :cool:

boih.. i can stare at this pics the whole day.. :cool:
Me too :) -
That's a brand new shot. :banana:

^^ its dodgy that they'r goin to put three 28 storeys towers there.. phetetic.. :(

^^ its dodgy that they'r goin to put three 28 storeys towers there.. phetetic.. :(
Absolutely agree. Such a waste of the land. :bash:

^^ u know wat will look nice there? PGCC! :cool: MWUAHAHAHA!! :naughty:
i was hoppin somethin tall and hyper modern.. and this.. duh!

by xybo

http://farm3.static.flickr.com/2144/2288130504_db2fde2fdf_b.jpg

by abbey1cow

http://farm4.static.flickr.com/3146/2288732047_b9e00a473c_b.jpg

2 March constuction site
http://i35.photobucket.com/albums/d163/picaddict_1975/Citycentre4/IMG_0460.jpg

Found render of this project in this newsletter :banana:
http://www.eoprop.com/eop/_repository/eop_v2/investor_newsletter/E&O%20Insights%20Vol%205%20-%2027.8.2008.pdf

COOL GREG.....NOT BAD BUT DOESNT IMPRESS ME MUCH....MAYBE PACTHY CAN COPY N PASTE THE PIC HERE... BUT THE TOWER LOOKS SO MUCH TALLER....IM PREFFERD DIS ONE

http://img140.imageshack.us/img140/9137/networkcitydl4.jpg

Found render of this project in this newsletter :banana:
http://www.eoprop.com/eop/_repository/eop_v2/investor_newsletter/E&O%20Insights%20Vol%205%20-%2027.8.2008.pdf

mmmm... boring design for that location:ohno:

Yep, totally fails to impress both in design and height. I stated this before, it's a waste for this fantastic plot of land. :bash:

greg, you have to know the nature of malaysian business. most of them don't even care about design or somethin....what they care most is of coz money.

but i can tell most high end buyers might look into design as what we can see The Avare which is 100% sold!...hopefully only few will buy this property (dreaming lah :lol:) and this project can give a strong signal to E&O on how design really matters...

thanks Greg... here u go guys


St Mary’s Development

‣ Targeted to launch by Q3-2008
‣ Located in the heart of Kuala Lumpur’s central business district
‣ 3 blocks of 28-storey luxurious service apartments on a 4.13 acre land parcel
‣ Built-up from approximately 1,000 sq ft to 3,000 sq ft
‣ 55,000 sq ft of retail space
‣ The signature “central park”, conceived as an urban sanctuary, tucked away from the hustle and bustle of city life, comes with ancillary amenities and food & beverage outlets at the podium
‣ Strata titled units on freehold land

http://img509.imageshack.us/img509/1/eogy7.jpg

change the design lerrr!...

greg, you have to know the nature of malaysian business. most of them don't even care about design or somethin....what they care most is of coz money.

but i can tell most high end buyers might look into design as what we can see The Avare which is 100% sold!...hopefully only few will buy this property (dreaming lah :lol:) and this project can give a strong signal to E&O on how design really matters...

i dont blame them, i think i will blame DBKL in this, because they are the one who approved it. and DBKL should learn about design that are good with the surrounding and location to make KL more interesting in the 21st century

i dont blame them, i think i will blame DBKL in this, because they are the one who approved it. and DBKL should learn about design that are good with the surrounding and location to make KL more interesting in the 21st century

maybe i'm wrong:)

tau takpe....

I really sakit hatilah!They waited 10 years,Then this!!!Bythe way the lot next to the Weld is going to 35 stories its public bank punya!

by *jr

http://farm4.static.flickr.com/3011/2371280798_f6666ba5ff_o.jpg

http://a378.ac-images.myspacecdn.com/images01/81/l_2919011bb72150394f9da434547dbd81.png

http://a750.ac-images.myspacecdn.com/images01/30/l_762f32f11746f7a60fc9122e11d4a795.png

http://a672.ac-images.myspacecdn.com/images01/114/l_69be9ff9a5fcf02221babe98b3c893bf.png

http://a559.ac-images.myspacecdn.com/images01/31/l_ec73a99d2625e3e0676fcd232cca3d4e.png

http://a175.ac-images.myspacecdn.com/images01/85/l_f82174b4f624bca9bb823090c04016ee.png

http://a356.ac-images.myspacecdn.com/images01/9/l_89e8934824e242cacd53a26357fa804b.png

http://a727.ac-images.myspacecdn.com/images01/106/l_48563206c6bd6abb3d627be26178088e.png

http://a135.ac-images.myspacecdn.com/images01/17/l_e7e3177c5dd5d741f4ee006635c461a6.png

Rizal the best spot for photos on this project would be Wisma KFC.

so short yet so ugly haih

pls pls change the design.. i dont mind boxy but NOT theseeee

by spOt_ON

http://farm4.static.flickr.com/3173/2433202249_8ed6c0a4d0_b.jpg

http://farm4.static.flickr.com/3296/2433967556_ff59c83ee7_b.jpg

Man, great location and mediocre design...pendek pulak tu! ceh

Should be like this maybe as well!!!
http://www.skyscrapercity.com/showthread.php?t=614461

http://img110.imageshack.us/img110/6625/kbthy1.jpg

If you guys are ever curious what a collapsed site wall" slurry wall" looks like visit this site!It happen last week a good 30 meters bordering the MAS building came tumbling down!!!It damaged 2 excavator+1 lorry.I have never seen a wall fail like this all my life!!!:bash:ohno::bash:

from flickr

http://farm3.static.flickr.com/2130/2452551497_1372512fbd_b.jpg

Pedang thats a old photo!!!

http://a429.ac-images.myspacecdn.com/images01/71/l_e5738bbfba9992a00e68404917fa0394.jpg

http://a77.ac-images.myspacecdn.com/images01/56/l_952f260e48e2737ba4758c4e3cc2639c.jpg

http://a436.ac-images.myspacecdn.com/images01/28/l_bba0364440959a46a98ec2c1b7157bb3.jpg

thanks Greg... here u go guys


St Mary’s Development

‣ Targeted to launch by Q3-2008
‣ Located in the heart of Kuala Lumpur’s central business district
‣ 3 blocks of 28-storey luxurious service apartments on a 4.13 acre land parcel
‣ Built-up from approximately 1,000 sq ft to 3,000 sq ft
‣ 55,000 sq ft of retail space
‣ The signature “central park”, conceived as an urban sanctuary, tucked away from the hustle and bustle of city life, comes with ancillary amenities and food & beverage outlets at the podium
‣ Strata titled units on freehold land

http://img509.imageshack.us/img509/1/eogy7.jpg

they previously proposed 3blocks 34storey each (1004 units) svc apartmnt but end up 28 storey only....

http://a574.ac-images.myspacecdn.com/images01/26/l_7e8f32dd02773f7981fccf792ae5dd5d.png

Public Mutual Building

http://img.photobucket.com/albums/v730/Greg8000/208130_WyhzYmpDGYrBQ90LyoiO6sIRn.jpg

Shall we keep here or make separate thread for this one?

^^ now thats singaporish! :cool:

Public Mutual Building

http://img.photobucket.com/albums/v730/Greg8000/208130_WyhzYmpDGYrBQ90LyoiO6sIRn.jpg

Shall we keep here or make separate thread for this one?

:cheers:

>> http://www.skyscrapercity.com/showthread.php?p=21379739#post21379739

Looks rather Hongkongish than SIngaporish to me.Hehehehe

by bmett

http://farm4.static.flickr.com/3292/2673802542_bf295fdb3f_b.jpg

by fivemonthsoff

http://farm4.static.flickr.com/3278/2684458452_e663722c07_o.jpg

Sunyi Sepi site for the last 2 weeks!!!I suspectlah DBKL issued a stop work order!!Because the piling company making such a mess in the area.

Looks rather Hongkongish than SIngaporish to me.Hehehehe

i donno hey.. it just looks more singaporish more than hongkish to me.. maybe its the public back logo! :lol:

nyway those 28 storeys looks nice! just a pity its only 28..

thanks Greg... here u go guys


St Mary’s Development

‣ Targeted to launch by Q3-2008
‣ Located in the heart of Kuala Lumpur’s central business district
‣ 3 blocks of 28-storey luxurious service apartments on a 4.13 acre land parcel
‣ Built-up from approximately 1,000 sq ft to 3,000 sq ft
‣ 55,000 sq ft of retail space
‣ The signature “central park”, conceived as an urban sanctuary, tucked away from the hustle and bustle of city life, comes with ancillary amenities and food & beverage outlets at the podium
‣ Strata titled units on freehold land

http://img509.imageshack.us/img509/1/eogy7.jpg


http://farm4.static.flickr.com/3236/2795919458_d6d1d1699c_o.jpg
...dis 1 looks so much better!!!!....anyway dis is another Park7 in the making....

Current developments in planning that add to E&O Property’s prestigious portfolio of projects

Committed strategy focusing on highly prized locations that command a premium

New Horizons


Land at St. Mary’s, Kuala Lumpur City Centre

On the previous site of St. Mary’s School in the heart of Kuala Lumpur’s Golden Triangle, a joint venture partnership with the Lion Group will see the development of 3 towers of service apartments and a retail podium. At the core of the 4.13 acre land parcel, a central green will act as a social hub for the integrated commercial project, as well as offer recreational facilities for the premier service residences which come with full interior-design specifications.


Land at Jalan Tengah, Kuala Lumpur City Centre

Directly adjacent to the St. Mary’s development, sits 1.15 acres that is fully owned by E&O. A striking architectural tower of 35 storeys, it will provide Kuala Lumpur with highly sought after Grade A office space now in limited supply. With both adjoining land parcels combined, it represents a significant total area of 5.28 acres in the capital’s prime business district.

by Jai's 77

http://farm4.static.flickr.com/3171/2820362421_01fd48394f_b.jpg

http://farm4.static.flickr.com/3185/2820369759_33a96a2513_b.jpg

Kena kantoi by DBKL started work without permission!!!

Anything to do with recent wall collapse?

James i suspect its got something to do with it toolah ,Geo Pancar was just pushing their luck and pick the wrong location for it !They created such mess and thought is business as usual with DBKL may be not this timelah.

by lotte aarts

http://farm4.static.flickr.com/3197/2849939073_38865015e2_b.jpg

Actually BCP & this site of constructions are so big! :eek:
by Exposure-photo

http://farm4.static.flickr.com/3084/2856778005_bec3cb0330_o.jpg

Thats why its such a shame of what they preposed!!!By the way DBKL gave them green after stopping work for more than a month.

by joskozec

http://farm4.static.flickr.com/3288/2889434457_723d896b54_b.jpg

Hi, Im a newbie here.:)
Here you go guys, the other St. Mary's building, near the temple.

http://static1.bareka.com/photos/medium/14519808.jpg

Thanks shai57! >> http://www.skyscrapercity.com/showthread.php?t=501948

Hi, Im a newbie here.:)
Here you go guys, the other St. Mary's building, near the temple.

http://static1.bareka.com/photos/medium/14519808.jpg

http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=886

Hamiltons Architects have secured their first major project in Kuala Lumpur, Malaysia
The 50,000m², 40-storey development consists of 22 levels of clear span office space with a signature 136 key E&O hotel located above providing complimentary uses and shared functions. The triple height open pool deck at level 40 enjoys breathtaking sunset views across the city skyline, promising to become one of the city’s social centres. The offset cores positioned to the east and west minimize solar gain, whilst providing separate and dramatic entrances to the office and hotel through a 14 metre high open plaza lobby with lush gardens forming a backdrop. A fully glazed coffee shop provides a meeting place for occupants and visitors and defines a destination within the city.



http://img.photobucket.com/albums/v730/Greg8000/886_38520Hamiltons20Kuala20Lumpur.jpg


not much changes i guess xcept from 40storeys now its 35storeys

E&O to launch RM2b worth of properties by year-end
30 Sep 2008 2:59 PM
THEEDGEDAILY

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) expects property development to continue to be its key earnings drive for the group, with gross development value of over RM2 billion of properties to be launched by year-end.

In a statement issued in conjunction with its AGM on Sept 30, its managing director Datuk Terry Tham Ka Hon said the properties to be launched included the serviced apartments at the former St Mary’s school site in Jalan Tengah here and the condominiums in Seri Tanjung Pinang, the group’s flagship development on Penang island.

“Leveraging on E&O’s expertise, experience and established brand value, the group is able to reaffirm its cachet for exclusivity and quality in its portfolio of properties in prime locations.

“The focused strategy of strengthening and expanding key earning drivers will position the E&O group for continued value creation and business growth,” he said.

The group's core activities are in hospitality and lifestyle, and property investment.

“I’m pleased to report that E&O has achieved steady growth in the last five years. E&O’s return on equity have progressively improved from 5% in FY2004 to 18% in FY2008, and we have been consistently paying out dividends between 12% and 21% of profit attributable to shareholders (PATS) over the last five years,” Tham said.

He said E&O’s PATS registered a compounded annual growth rate (CAGR) of 57% from RM21 million to RM129 million (FY2004 compared to FY2008 ended 31 March).

Tham said within the hospitality and lifestyle division, the group planned to tap into existing hotel management expertise and extend this service to manage the Waterside Suites at Seri Tanjung Pinang in Penang island and the block of apartments owned by the Synod of the Diocese of West Malaysia (original owner of St Mary’s school and land) at the St Mary’s development in Kuala Lumpur.

E&O was given the first right to exclusively manage and provide luxury hotel management services to run the serviced residences.

Tham said E&O’s property investment division was recently formed to realise optimum gains in capital appreciation over the medium term from investments comprising residential units and commercial/retail space developed within the E&O Group.

Earlier in August this year, the group secured a RM472 million syndicated term loan facility with Affin Investment Bank Bhd as lead arranger and Affin Bank Bhd, Public Bank Bhd and EON Bank Bhd as the lenders, to part-finance assets held under the group’s property investment portfolio.

Tham said the target size for E&O’s property investment portfolio would be to achieve RM1 billion worth of prime asset within the next five years.

“It is a strategic and synergistic move for us to build our property investment portfolio, as the E&O group has access to premier properties within prime locations through its property development arm.

“With this undertaking, the group is able to maintain the branding and concept of each development, to further build and increase the E&O brand equity, as well as realising optimum gains on capital appreciation,” he said.

E&O rancang lancar projek hartanah RM2b
1 Oktober 2008
Utusan

KUALA LUMPUR 30 Sept. - Eastern & Oriental Bhd. (E&O) akan melancarkan beberapa projek pembangunan hartanah dengan nilai pembangunan kasar (GDV) melebihi RM2 bilion, pada akhir tahun ini.

Menurut kenyataan E&O, projek-projek itu termasuk apartmen perkhidmatan di bekas tapak sekolah St. Mary, Jalan Tengah, di sini dan kondominium di Seri Tanjung Pinang, Pulau Pinang.

Kumpulan itu merancang untuk menembusi kepakaran pengurusan hotel sedia ada dan meluaskan perkhidmatannya untuk mengurus Waterside Suites di Seri Tanjung Pinang dan apartmen yang dimiliki Synod of the Diocese of West Malaysia, di sini.

E&O telah diberikan hak eksklusif untuk mengurus dan menyediakan perkhidmatan pengurusan hotel mewah bagi menjalankan operasi kediaman perkhidmatan.

Baru-baru ini, bahagian pelaburan hartanah E&O dibentuk untuk merealisasikan pulangan optimum dalam peningkatan modal pada jangkamasa sederhana daripada pelaburan yang merangkumi unit kediaman dan komersial yang dibangunkan di kalangan kumpulan E&O.

Saiz aset utama yang disasarkan untuk portfolio pelaburan hartanah E&O ialah RM1 bilion dalam tempoh lima tahun lagi.

Pengarah Urusan Kumpulannya, Datuk Terry Tham Ka Hon berkata, langkah untuk membentuk portfolio itu adalah strategik dan ia merupakan sinergi bagi kumpulan.

''Ini kerana, kami mempunyai hartanah perdana di sekitar lokasi utama menerusi jentera pembangunan hartanah.

''Dengan ini, kami mampu mengekalkan jenama dan konsep setiap pembangunan, sekali gus meningkatkan ekuiti jenama E&O," katanya dalam kenyataan itu.

E&O mencatat pertumbuhan stabil untuk tempoh lima tahun dengan pulangan ekuiti (ROE) meningkatkan kepada 18 peratus bagi tahun kewangan 2008 berbanding lima peratus untuk tahun kewangan 2004.

Modal pasaran E&O sekarang ialah kira-kira RM574 juta dengan terbitan modal dan modal berbayar sebanyak RM592 yang dicatat pada pertengahan September 2008.

More projects from E&O

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) is planning to launch properties worth over RM2bil in gross development value (GDV) during its current financial year ending March 31.

Scheduled for launch were the St Mary’s serviced apartments in Kuala Lumpur and the first phase of the Seri Tanjung Pinang condominiums in Penang, said executive director Eric Chan.

“Each project has a GDV of over RM1bil,” he said after the company AGM and EGM yesterday.

“We will be evaluating the property market and will decide when the time is right to launch. But it will be within this financial year.”

The St Mary’s development is located in Kuala Lumpur’s central business district, at the corner of Jalan Tengah and Jalan P. Ramlee.

It will comprise three blocks of 28-storey luxury apartments on 4.13 acres of freehold land while the Seri Tanjung Pinang condominium development is located on 21 acres of freehold land.

E&O’s core businesses are in property development, property investment as well as hospitality and lifestyle projects.

The property development division currently contributed about 90% to group revenue, according to Chan.

“Within the next five years, we want to increase the contribution from our property investment, and hospitality and lifestyle divisions to about 20% each, with our property development contributing about 60%,” he said.

According to its annual report, E&O has a total landbank of 1,687 acres, located in the Klang Valley and Penang.

Chan said the group was looking to acquire more land for future projects.

“We are always looking for new locations, especially within the Klang Valley and Penang because that is where our brand is,” he said, adding that the group was also looking to expand its presence overseas.

“We hope to take our brand regional,” Chan said. “When the right opportunity arises we will do so but at the moment we are not present in any other country.”

Land at Jalan Yap Kwan Seng, Kuala Lumpur City Centre
Along the same road as the Australian High Commission and a stone’s throw from the Twin Towers, a 40 storey condominium will tap on the growing market for young urban professionals, both local and expatriates, choosing to live and work within the city centre.

cant wait 4 dis...

by MattPreece

http://farm4.static.flickr.com/3002/3003180394_ec466f7903_b.jpg

Come to think of it have they launch it yet ,i thought they say 3rd qtr of the year???

^^not the right time la....

http://img.photobucket.com/albums/v730/Greg8000/mary.jpg

Oh NO!

loooks like uni hostel.... or highrise backpackers

http://img.photobucket.com/albums/v730/Greg8000/mary.jpg


http://farm4.static.flickr.com/3236/2795919458_d6d1d1699c_o.jpg
...dis 1 looks so much better!!!!....anyway dis is another Park7 in the making....

orange??? oklah not bad...

He he he...sorry but both are just bad... if they put these somewhere in Kiara or Damansara ok la, but in this good piece of land?

I know there might be thousands of reasons and factors why they choose these design but man.... this is waste of a very good land....

I don't mind if they delaying any works... common, spent some money and make a landmark buildings that hopefully last for a long long time....

The very photo is misleading!!!That empty so called "park" in the foreground will eventually be another building just as ugly!!!!I am so disapointed with developers .Its right smack in middle of the golden triangle and yet thats the best they can come up with!!!

http://farm4.static.flickr.com/3236/2795919458_d6d1d1699c_o.jpg
...dis 1 looks so much better!!!!....anyway dis is another Park7 in the making....

Hi, Im a newbie here.:)
Here you go guys, the other St. Mary's building, near the temple.

http://static1.bareka.com/photos/medium/14519808.jpg

dis is the 2 projects....3 blocks 28 storeys residence towers n 1 block 35storeys office/hotel tower....

COOL GREG.....NOT BAD BUT DOESNT IMPRESS ME MUCH....MAYBE PACTHY CAN COPY N PASTE THE PIC HERE... BUT THE TOWER LOOKS SO MUCH TALLER....IM PREFFERD DIS ONE

http://img140.imageshack.us/img140/9137/networkcitydl4.jpg

This was the earlier proposal rejected... too bad guys!

^^ budget tarak maaa.....lol!!!

Ahyo this project got a very very long story!!!Thats where my kampung used to be!!!
I used to live therelah until 1998!!Not on the school groundlah but next lot next to it!!!

Ahyo this project got a very very long story!!!Thats where my kampung used to be!!!
I used to live therelah until 1998!!Not on the school groundlah but next lot next to it!!!

u seriooooous? must be kaya raya now lah

I eat roti kaya gotlah!!!My late grandfather used to work for the church that owns that lot for many many yearslah.

^^roti kaya pun sodap ahaks....hey dengilo..u indian or chinese???

Me bangali jaga lembulah

Me bangali jaga lembulah
:lol:

http://i207.photobucket.com/albums/bb96/didan69/01-1.jpg

It's a shame E&O didnt incorporate the main St Mary's heritage building with the new design like Gurney Paragon Penang or Seaview Singapore...

E&O delaying launch of Penang condo project
Monday December 8, 2008
By ELAINE ANG

EASTERN & Oriental Bhd (E&O), which is in the midst of reviewing its property development launches amid the current economic slowdown, will delay the launch of the first phase of the Seri Tanjung Pinang condominiums in Penang.

The first phase, comprising four towers of seaside condominiums with one, two and three-bedroom units and with a gross development value (GDV) of about RM1bil, was to be launched during the group’s current financial year ending March 31, 2009 (FY09). But the targeted launch date has since been pushed to the third quarter of next year.

Executive director Eric Chan Kok Leong said the group was reviewing its launch strategies after monitoring the local market sentiment and global financial conditions.

“Economic slowdown is inevitable and will indeed impact bottom line, but our fundamentals remain solid.

“It is important now for the E&O group to conduct business in a more conservative mode, which includes reviewing certain development launches and proactively assessing product offerings to suit the times, such as providing smaller-sized units for greater market acceptance,” he said in an e-mail interview.

The group, however, would be forging ahead with the launch of its St Mary’s serviced apartments, targeted for the fourth quarter of FY09.

The project, sited in the heart of Kuala Lumpur’s central business district, consists of three blocks of 28-storey luxurious serviced apartments on 4.13 acres and has a GDV of RM1bil.

Chan said the project was in line with E&O’s focused business strategy of building premier properties in prime locations (10 to 15km radius of the Kuala Lumpur city centre in the Klang Valley) and which had the potential to further enhance the group’s brand reputation in the property landscape.

Nevertheless, Chan remains positive on the outlook for the country’s property sector.

“We expect the Government’s recently announced stimulus package for the property sector to have a positive impact in the long term notwithstanding the possibility of a downward pressure on demand for property caused by an expected deceleration in economic growth, employment concerns and a weak stock market performance.

“Amid this challenging environment, we anticipate that raw material prices will continue to normalise and hence ease the pressure on margins,” he said.

As for Penang, Chan said the state’s property landscape was undergoing rapid transformation aided by the population’s changing lifestyle and evolving market dynamics.

“Our positive outlook on the Penang property market is further supported by George Town’s Unesco World Heritage Site status which has rejuvenated efforts by the state government and property developers to boost the island’s position as a real-estate destination,” he said.

Although E&O’s net profit fell 96.8% to RM473,000 for the second quarter ended Sept 30 mainly due to lower contribution from the property division, an analyst with a local research house noted that the St Mary’s and Seri Tanjung Pinang condominium projects were in advanced ground/infrastructure works, implying immediate earnings recognition upon launch.

“E&O has prudently revised the timing of its new launches to meet market conditions.

“We continue to like the group for its premium branding and strong execution capabilities, which have enabled stable income stream from the Seri Tanjung Pinang project. We expect unbilled sales of RM191mil to be recognised over the next two years,” the analyst said.

Seri Tanjung Pinang, spanning over 980 acres, launched its first properties – in the form of Acacia Courtyard Terraces – in October 2005.

This was followed by the Avalon semi-detached homes in June 2006. Other phases include the Acacia semi-detached homes, some bungalow plots, Waterside serviced apartments and the Sea Villas detached homes.

http://i207.photobucket.com/albums/bb96/didan69/01-1.jpg

It's a shame E&O didnt incorporate the main St Mary's heritage building with the new design like Gurney Paragon Penang or Seaview Singapore...

Thanks so much for the photo didan!Remember Bukit Bintang Girls School same storylah Every inch is money thats all they can think of!!

E&O delaying launch of Penang condo project
By ELAINE ANG


The group, however, would be forging ahead with the launch of its St Mary’s serviced apartments, targeted for the fourth quarter of FY09.

The project, sited in the heart of Kuala Lumpur’s central business district, consists of three blocks of 28-storey luxurious serviced apartments on 4.13 acres and has a GDV of RM1bil.

Chan said the project was in line with E&O’s focused business strategy of building premier properties in prime locations (10 to 15km radius of the Kuala Lumpur city centre in the Klang Valley) and which had the potential to further enhance the group’s brand reputation in the property landscape.

by trihy

http://farm4.static.flickr.com/3017/3097946042_4174ec11ce_b.jpg

Another view
by Rlzzza

http://img37.picoodle.com/img/img37/3/12/19/f_97m_c0ce9d1.jpg

That photo is at least 4 to 5 months old !!Piling for this project is at 80% completed.

besarnya...they shud built sumting taller...

Very true rizal ,but i suspect the problem with this project is that they dont have a proper frontage !!They lucky if they can get somekind of acsess between wisma KFC and the property next to it to jalan sulatan ismail!JalanTengah is more like a backlane!

by worlddiscoverer

http://farm4.static.flickr.com/3526/3180264551_fd479697d1_b.jpg

macam terbengkalai.. je

macam terbengkalai.. je

tu pic lama kot...project ni bergerak maju hehe

macam terbengkalai.. je

aku rasa pun macm tu sbb pasal krisis eco.

Its on going, piling completed they finishing the pile caps but once thatS done is another storylah i suspect this one will be delayed yet again ,they only 10 years behind !!!

by ganesa1234

http://farm4.static.flickr.com/3526/3246834851_614a86a8d3_o.jpg

Dead!?
by Kimbo2006

http://farm4.static.flickr.com/3453/3403301467_c479c5e77b_b.jpg

Love that brand spankin new pic!!

That photo is at least 3-5 months old!!!Nazrey its still going on ever so slowly they finishing the pilecaps but i suspect they will pull the hand brakes on this one!!

The very latest i heard from the guys on site is this one will be coming to a grinding halt
and i suspect they are telling the truth!!!I saw the banglas coating the the pile caps steel rods with cement that tell me they planning to keep the site as it is for along time!Here we go again lion group well done the first time around 10 years delay lets how long this time around!!They missed the boat again!!

macam pasar malam la plak :nuts::nuts:

Permit Jalan Tengah

Oleh JOHANNA A. SOBREY
johanna.sobrey@kosmo.com.my

Kedudukan bazar yang berhampiran dengan segi tiga emas ibu kota memberi satu daya tarikan kepada Jalan Tengah. Penjaja berharap mereka diberikan permit untuk berniaga di situ.


http://www.kosmo.com.my/kosmo/pix/2009/0409/Kosmo/Urban/ur_03.1.jpg
BAZAR Tengah Hari Jalan Tengah bermula dari pukul 12 tengah hari sehingga 3 petang.

--------------------------------------------------------------------------------


JALAN Tengah umpama lubuk emas bagi peniaga air mata kucing, Lai Yow Sing, 45, dan isterinya, Ling Bee Sim, 37.

Sudah hampir 20 tahun mereka berniaga di lorong yang menghubungkan Jalan P. Ramlee dan Bukit Bintang itu. Segala susah dan senang telah mereka harungi, termasuk terpaksa melarikan diri daripada pihak berkuasa.

"Banyak perubahan yang kami lihat selama ini. Kami berniaga sebelum jalan ini dikelilingi bangunan-bangunan seperti sekarang.

"Pernah juga kami terpaksa melarikan diri kerana tidak mempunyai lesen perniagaan. Anda boleh melihat kesemua bekas dan peralatan kami diikat… manalah tahu, kalau kami terpaksa berbuat demikian lagi nanti," kata Yow Sing tersenyum sambil sibuk melayan pelanggan di motosikal roda tiga yang digunakan untuk aktiviti perniagaan mereka.

Isterinya mencelah: "Kami hanya berniaga di sini pada waktu tengah hari Jumaat. Hari-hari lain, kami berada di pasar-pasar malam di Rawang, Kepong mahupun Port Dickson.

"Jika hari tidak hujan, perolehan harian agak lumayan. Sebahagian besar diperoleh daripada pekerja-pekerja di bangunan sekeliling."

Yow Sing dan Bee Sim merupakan antara lebih daripada 100 peniaga yang mencari rezeki di bazar yang dikenali sebagai Bazar Tengah Hari Jalan Tengah, Bukit Bintang, Kuala Lumpur.

Menurut Ketua Penyelaras Bazar Tengah Hari Jalan Tengah, Bukit Bintang, Hashim Yunus, aktiviti jualan di jalan tersebut telah wujud sejak 20 tahun lalu.

"Ketika itu, beberapa peniaga menggunakan motosikal roda tiga untuk berniaga makanan dan minuman. Sehingga tahun 2000, mereka terpaksa lari daripada pihak berkuasa kerana tidak mempunyai kelulusan untuk berniaga.

"Sungguhpun demikian, aktiviti jualan di jalan itu semakin bertambah. Dari 160 petak pada tahun 2007, ia meningkat kepada 196 petak sekarang. Namun begitu, kami masih berniaga tanpa permit," ujar Hashim yang memaklumkan bahawa beliau mewakili peniaga-peniaga di bazar berkenaan.


Menyedari potensi perniagaan di Jalan Tengah, Hashim memaklumkan pihaknya telah menyuarakan keinginan untuk mendapatkan permit perniagaan daripada Dewan Bandaraya Kuala Lumpur (DBKL) pada tahun 2007.

"Kami telah bertemu beberapa kali. Pada peringkat awal, pihak DBKL menolak permintaan kami tetapi kami mencuba lagi kerana kami hanya berniaga pada waktu tengah hari Jumaat.

"Biasanya jualan bermula dari pukul 12 tengah hari dan kerja-kerja pengemasan dilakukan pada pukul 3 petang. Ia satu tempoh yang pendek," jelas Hashim lagi.

Perjumpaan mereka membuahkan hasil apabila pihak DBKL memberikan kebenaran bersyarat, iaitu mengawal lalu-lintas di laluan berkenaan, membuang sampah-sarap dan menjaga sikap penjaja.

"Sikap penjaja yang dimaksudkan adalah etika berniaga, penggunaan khemah dan juga tidak menghalang jalan dengan kenderaan mereka," kata Hashim.

Sehubungan itu, ahli jawatankuasa bazar dengan kerjasama pihak Persatuan Peniaga dan Penjaja Lorong Tuanku Abdul Rahman berusaha memenuhi syarat yang dikenakan oleh pihak DBKL.

"Status kami sekarang ialah kami boleh berniaga pada waktu tersebut. Namun demikian, ia hanya kebenaran lisan, tanpa sebarang permit.

"Terima kasih DBKL kerana memberikan kebenaran itu. Namun demikian, kami berharap kebenaran yang diberikan oleh Ketua Pengarah DBKL, Datuk Salleh Yusup itu akan diterjemahkan ke dalam bentuk hitam putih," katanya.

Hashim menjelaskan bahawa pihaknya hanya meminta permit berniaga singkat yang membolehkan mereka berniaga selama dua atau tiga jam pada hari Jumaat.

"Kami telah melakukan apa yang diminta termasuk mewajibkan penjual mendapatkan suntikan kesihatan, mengupah syarikat swasta mengutip sampah dan membersihkan kawasan selepas jualan tamat dan mendapatkan khidmat Rela untuk mengawal lalu lintas dengan kerjasama ahli jawatankuasa.

"Komitmen kami memang untuk memastikan jalan tidak sesak, namun harus kami jelaskan bahawa lorong ini memang agak sesak pada hari biasa kerana kesukaran kereta untuk keluar ke Jalan P. Ramlee," jelasnya.

Dalam usaha mengurus perniagaan-perniagaan di bazar tersebut, jawatankuasa itu telah mengambil rekod kehadiran penjual, di samping wang RM5 daripada setiap gerai untuk digunakan bagi kerja-kerja pembersihan pada akhir waktu perniagaan.


http://www.kosmo.com.my/kosmo/pix/2009/0409/Kosmo/Urban/ur_03.3.jpg
KEPELBAGAIAN barang jualan termasuk buah-buahan menarik segenap lapisan masyarakat termasuk pelancong asing untuk mengunjungi bazar Jalan Tengah, Kuala Lumpur.

--------------------------------------------------------------------------------


Bagi peniaga makanan ringan, Indra Zahar, 43, mempunyai permit sementara itu akan memberi satu kelegaan kepada para peniaga.

"Jika ada permit itu, tidaklah kami 'takut-takut' untuk berniaga di sini," kata beliau yang menegaskan bahawa para peniaga mematuhi syarat yang dikenakan oleh DBKL.

Peniaga buku dan majalah, S. Kunaseelakalairuban, 25, berkata: "Jalan ini menjadi tumpuan ramai, bukan sahaja pekerja di bangunan sekeliling, tetapi juga pelancong asing yang berada di Bukit Bintang.

"Potensi perniagaan di sini amat tinggi kerana respons yang memberangsangkan. Malah, bagi kebanyakan peniaga, keuntungan yang tinggi dapat diperoleh dalam masa hanya beberapa jam berbanding dengan perniagaan mereka di tempat lain."

Sementara itu, Ketua Pengarah DBKL, Datuk Salleh Yusup yang dihubungi Kosmo! memberitahu: "Para peniaga telah diberi kebenaran untuk berniaga. Tetapi kami tidak memberi lesen kerana salah satu faktor ialah jalan yang sibuk.

"Apabila diberi permit, keadaan akan menjadi lebih sukar pada masa hadapan. Lagipun persefahaman telah dibuat antara DBKL dengan jawatankuasa peniaga dan kami membenarkan mereka meneruskan aktiviti perniagaan mereka."

Tambahnya: "DBKL tidak mengeluarkan lesen perniagaan untuk tempoh singkat seperti itu dan sekiranya wujud sebarang masalah, kebenaran itu boleh ditarik balik."

sepatutnya peniaga2 kecil ni perlu dibenarkan berniaga di beberapa tempat tumpuan pelancong. this is what Bangkok has and KL hasn't. being touristic is not about having gleaming tall skyscrapers with flashy billboard....

^^maybe tak ssuai coz nanti bad traffic jam and kotor...orang malaysia kan suka buang sampah merata2 :p

i agree..^^^^....first kena pastikan kebersihan...then make sure peniaga tak jual barang2 imitation atau counterfeit.kita tak nak la pelancung balik kat negeri diaorg pastu kutuk malaysia mcm2.i think kl need to look at singapore for reference.

i agree..^^^^....first kena pastikan kebersihan...then make sure peniaga tak jual barang2 imitation atau counterfeit.kita tak nak la pelancung balik kat negeri diaorg pastu kutuk malaysia mcm2.i think kl need to look at singapore for reference.

Jalan Tengah tu kecik jer...kereta pun tak banyak. kalo dia tutup jalan tu pun, tak terjejas pun lalu-lintas. im curious either the Ketua Pengarah ever been to that area or not.

btw, fyi mr byong sun, bangkok is much much famous for its tourism product worldwide than singapore. and bangkok has those fake and imitation product wayyyyyyy to many than what you can see in Petaling Street, yet tak pernah pun pelancong2 duk kutuk kata bangkok 'tak best' sebab ada jual fake product.

please. one must understand what TOURISM is all about. tourism is not about having supertall structure and modern this and that. that is what makes KL becoming boring lah!

KL ibarat satu watak yang kaku dan hanya mengikut arahan pengarah yang bodoh sombong.

I think tourism is about hospitality and comfort, I doubt selling imitations has any bearings on popularity. Quite honestly I love Bangkok...a little dirty is okay but the people makes the city pleasant. Mentality of Bangkokian are far more liberal than KLites, KLites or Malaysian in general in my opinion are judgemental and quite honestly rather 'insecure' in their own skin, very defensive and fragile, sometimes kinda make you think if Malaysia is ready for the world..banyak yang 'tak boleh' itu dan ini...macam orang kita tak ade otak, pelajaran and pelbagai kaum dan ugama, the goverment behaves like over protecting parents..paranoia.
Singapore on the other hand is neat and organized, but to me way too sterile..yeah they have a lot to offer but I wouldn't wanna live there, too regimented.

agree....and i never againts street vendors.but i meant cleanliness when i mentioned singapore.8 mil populated historic bangkok hv the whole 'pakage' to be a vibrant city.vast street vendors is just one of the interesting element of it.the 'nature' of malaysia is different,so to hv that 'pakage'...,u know the rest.

[QUOTE
Menurut Ketua Penyelaras Bazar Tengah Hari Jalan Tengah, Bukit Bintang, Hashim Yunus, aktiviti jualan di jalan tersebut telah wujud sejak 20 tahun lalu.

:bash:Tidak benar its more like 10 years ago,some of these clowns set up shop as early as 9am!!!When the moslems goes to friday prayers all the girls that work in that area goes shopping:lol:IMHO its a good thing it brings life to this boring city!just that DBKL has to get their act together:nuts:

Seems like dead!?
by mas.mayo
http://www.flickr.com/photos/30356468@N04/3457518249/

http://farm4.static.flickr.com/3481/3457518249_a114444e54_b.jpg

launching end of the year....based on the edge news

by jasoncarulli

http://farm4.static.flickr.com/3603/3484791973_1aeb019f15_b.jpg

by Alpha Tehrani
http://www.flickr.com/photos/digitala/3490947435/

http://farm4.static.flickr.com/3597/3490947435_2be61bef59_b.jpg

by manceramancera
http://www.flickr.com/photos/manceramancera/3544938372/in/set-72157618029751010/

http://farm4.static.flickr.com/3402/3544938372_3a8da8e3dc_b.jpg

E&O gearing up for next economic upturn
By LOONG TSE MIN


Eastern & Oriental Bhd (E&O) group is positioning itself to capitalise on opportunities in the next economic upturn including holding back launches to time for the upturn as well as raising capital that could be used to make opportunistic acquisitions.

The group’s RM200mil proposed 1-for-2 rights of irredeemable convertible secured loan stocks (ICSLS) 2009/2019 in late May is part of a two-pronged strategy to raise a total of RM500mil.

Executive director Eric Chan told StarBizWeek in an interview that the RM500mil would strengthen the company’s balance sheet in the next two to three years “by increasing cashflow and lowering gearing.”

http://thestar.com.my/archives/2009/6/6/business/b_22tanjongpinang.jpg
A handout image of Seri Tanjung Pinang project. E&O will be launching two new projects this year.

The money will be used to fund developments, opportunistic acquisitions such as strategic acquisitions of landbank, and general working capital and repayment of financial obligations, etc.

The suddenness of the economic downturn in 2008 and 2009 had impacted E&O’s business and strategies Chan said.

Under current weaker conditions, the premium niche property developer is focused on “managing the balance sheet rather than being only profit and loss-driven”.

In addition to the RM200mil from the rights issue expected to be completed by August, RM300mil will be raised from the disposal of non-strategic landbanks and cash generated from new launches.

To date, it has also raised just under RM100mil from the disposal of what it considers to be non-strategic landbanks including a property in the Semantan area of Kuala Lumpur from the unwinding of a joint venture with Selangor Properties.

As part of its “value preservation” strategy, E&O has been holding off launches and will only put these developments worth RM4bil in gross development value (GDV) into the market when the economy and demand for high-end property recover.

In fact, the company had not launched aggressively in 2007 and 2008, which had shown in its 2009 financial results, given that there was an average two-year lag for the value of launches to be manifested in earnings, said Chan.

The group has announced an unaudited RM37.7mil net loss for the financial year ended March 31, 2009 (FY09) compared with a net profit of RM128.9mil for FY08.

“But the value of the developments are intact. They are deferred but not cancelled,” Chan said referring to the RM4bil GDV of held-back projects.

The RM4bil appears to be readily realisable when the market recovers.

“These are ready-to-market projects. We have acquired all the approvals,” he said, adding that approvals for property development launches could take about a year.

But the upturn may be sooner than expected.

The company expects to take two to three years to reduce the high gearing it has built up during the downturn. Meanwhile, it is launching two projects this year.

These projects are the 440-unit St Mary service apartments in Kuala Lumpur near the Weld next month and 1,000 units of Seri Tanjung Pinang condos in September. The company expects these projects to bring RM600mil into the company’s coffers.

The estimated RM200mil from the rights issue, by E&O’s calculations, will bring down the company’s gearing from 0.8 times to 0.46 times, while the RM300mil from landbank disposal and new launches will bring gearing down to a negligible 0.16 times.

HwangDBS Vickers which maintains a “hold” call on the counter in its latest report says of the two expected launches, “We expect the takeup to be slow due to high incoming supply of high-end condos especially around KLCC over the next two to three years.

“However, St Mary’s initial launch will likely be priced at an attractive RM800 per sq ft versus the KLCC secondary market price of RM800 to RM950 per sq ft, along with a 10/90 financing scheme.”

But at the same time, the research house has raised its FY10 and FY11 earnings forecasts of the company by 6% to 18% after factoring in stronger takeups with property sales showing signs of bottoming out on anecdotal evidence.

On the rights issue last month, HwangDBS says that E&O will have more working capital to resume launches in the second half of 2009 from the estimated RM2.4bil GDV, which should help to replenish dwindling unbilled sales at RM150mil currently.

The research house also opines that concerns about the company’s high gearing “will abate” and calculates that gearing will improve to 0.53 times from 0.83 times at present.

“The funds raised will also ease pressure to sell assets at distressed prices – E&O still hopes to raise RM300mil from the disposal of non-strategic landbank,” it says.

Just received some info. They start receiving cheques on this Friday 12 June.

3 blocks :
1. Studio type (A1) 1130sf
2. City suite, 2Br + 1study room, 1444sf
3. Metro suite, 3BR +1utility/maid room, 2257sf

price 800psf.

-early bird discount 10%-20%, depends on quota
-1 block sold
-10/90 scheme available
-3 years for completion

http://farm4.static.flickr.com/3309/3615543081_3a6988ebbe_o.gif

http://farm4.static.flickr.com/3346/3616362134_4e871ed0c2_o.gif

http://farm4.static.flickr.com/3631/3616362018_04a5ee8de3_o.gif

show gallery at jln yap kwan seng/jln mayang

http://farm4.static.flickr.com/3661/3618992028_4577dabe71_b.jpg

http://farm4.static.flickr.com/3096/3618171837_9ae0bd76b4_b.jpg

http://farm4.static.flickr.com/3662/3618991728_0e9bf38c09_b.jpg

Studio Suite (Type A1) - 1 bedroom (1,135 sq ft) - Floor 13 A - Essentially no view - Before Discount RM1.159 million - after discount RM985,000 or RM867 psf

City Suite (Type B1) - 2+1 bedroom (1,453 sq ft) - Floor 3 - Essentially no view - Before Discount RM1.229 million - after discount RM1.04 million or RM715 psf

City Suite ((Type B1) - 2+1 bedroom (1,453 sq ft) - Floor 22 - Park View - Before Discount RM1.89 million - after discount RM1.6 million or RM1,101 psf

Studio Suite (Type A1) - 1 bedroom (1,135 sq ft)

http://lh6.ggpht.com/_ONaEcGMDRtk/Sjc3HrqMnYI/AAAAAAAAACE/HjYhVgS-mVE/s800/IMG00006-20090613-1539.jpg

http://lh3.ggpht.com/_ONaEcGMDRtk/Sjc3IDlH6tI/AAAAAAAAACw/5Wj8BeKKB4U/s576/IMG00007-20090613-1539.jpg

http://lh5.ggpht.com/_ONaEcGMDRtk/Sjc3IXnMoRI/AAAAAAAAACM/EmY2Ikd6kYE/s800/IMG00008-20090613-1542.jpg

http://lh3.ggpht.com/_ONaEcGMDRtk/Sjc3I2TQZCI/AAAAAAAAACQ/8c-IDvINGB8/s800/IMG00009-20090613-1543.jpg

http://farm4.static.flickr.com/3328/3631948398_27dc0c5d7a_b.jpg

http://farm4.static.flickr.com/3664/3631137203_e18bd64c1d_b.jpg

when and where was the showroom being built?

when and where was the showroom being built?

the showroom at jln yap kwan seng

by Alexandre Chabot-Leclerc
http://www.flickr.com/photos/alexchabot/3510537554/in/set-72157617738300623/

http://farm4.static.flickr.com/3406/3510537554_4506e5a0ce_o.jpg

by nautical2k

http://farm4.static.flickr.com/3343/3635675055_3fb8337b51_b.jpg

http://farm4.static.flickr.com/3331/3640885708_015e223bcc.jpg?v=0

http://farm3.static.flickr.com/2446/3640885294_0fd916d49b.jpg?v=0

http://farm4.static.flickr.com/3409/3640886066_57027eeb81.jpg?v=0

http://farm4.static.flickr.com/3332/3640883826_c89b6a5916.jpg?v=0

http://farm3.static.flickr.com/2421/3640883410_0732445699.jpg?v=0

http://farm4.static.flickr.com/3407/3640072211_3c975f5089.jpg?v=0

http://farm4.static.flickr.com/3647/3640074067_d5840f974c.jpg?v=0

http://farm4.static.flickr.com/3342/3640073803_ffb94e4cbe.jpg?v=0

http://farm3.static.flickr.com/2471/3640884210_c5901fde11.jpg?v=0

http://farm4.static.flickr.com/3662/3640886972_a307195a7f.jpg?v=0

http://farm4.static.flickr.com/3658/3640076625_88a0834bcf.jpg?v=0

http://farm3.static.flickr.com/2455/3640075919_99e27f5727.jpg?v=0

http://farm4.static.flickr.com/3550/3640886306_b1fd730582.jpg?v=0

http://farm4.static.flickr.com/3629/3640077181_d05a6ee497.jpg?v=0

http://farm3.static.flickr.com/2446/3640887672_ed3e5855ea.jpg?v=0

http://farm3.static.flickr.com/2676/3696799705_8a17d0fb0e_o.jpg

http://farm3.static.flickr.com/2597/3696800389_16f8858aa1_o.jpg

http://farm3.static.flickr.com/2559/3696800539_3c98385952_o.jpg

http://farm3.static.flickr.com/2453/3697609486_8f65e4a2c9_o.jpg

Developers keen to resume launches
By SHANNEN WONG


HIGH-end property developers are expected to resume their project launches in the coming months aided by strong take-up in the first half of the year and more positive outlook in the economic front.

At least two luxurious residences in Kuala Lumpur and five high-end residential projects in Penang will be unveiled soon. (See table)

“Given the warm response for some of the recent project launches, we understand more developers are planning to launch their high-end properties in Kuala Lumpur and Penang in second half of the year,” says HwangDBS Vickers Research analyst Yee Mei Hui.

Developers are now more confident about resuming launches than focusing on clearing inventories previously.

“We believe that the good response from the properties buyers is an indication that demand for high-end has started to return,” says Yee.

She says while there would be a large incoming supply of high-end condominiums, especially around the KLCC and Mont’ Kiara areas, over the next two years, these new launches generally have lower entry prices due to smaller built-ups and the availability of attractive housing loan packages, says Yee.

“These new launches offer attractive financing schemes such as low down-payments and minimal cash outflow up to two years until the property’s delivery,” she adds.

DNP Bhd will be launching Verticas Residensi condominiums in Bukit Ceylon in Kuala Lumpur priced at RM970 per sq ft.

There will also be the release of 163 high-end serviced apartments for RM1,300 to RM1,400 psf for semi-furnished completed units by the previous en-bloc buyer of Pavilion Residences Tower A.

In Penang, Eastern & Oriental Bhd (E&O) is expected to launch its Seri Tanjung Pinang high-end linked houses, serviced apartments and condominiums these few months.

“We understand E&O is looking to launch its Seri Tanjung Pinang high-end condominiums in September to October at RM600 to RM700 psf,” says Yee.

“It is also planning to launch the second block of the St Mary high-end serviced apartments at RM1,200 psf via international road shows starting in September,” she says.

When contacted by StarBizWeek, an official from E&O says the company will be making announcements on the official launches of its St Mary project within the next few weeks.

IJM Land Bhd will also be launching two of its projects in Penang, namely the Light Linear upper-mid condominiums located near the Jelutong Expressway, and Light Point high-end condominiums later this month and in October respectively.

E&O’s maiden launch of 169 units of St Mary residences in June, the first high-end launch since the fourth quarter of last year, saw a strong 80% take-up rate after a recent five-day preview.

“The sales were above the market’s expectations,” says Yee, noting that buyers were predominantly locals who bought mainly for investment purposes.

Located within the golden triangle district in KL, St Mary Residences were sold at an average price of RM900 psf.

Sky Residences

SP Setia Bhd will be launching its first luxury high-rise residential project, Sky Residences on Jalan Tun Razak, tomorrow.

The sale preview of SP Setia Sky Residences Tower B kicked off last September but were only opened for sale in January this year, in conjunction with the launch of its 5/95 home loan package.

“Close to 95% of our units in Tower B have been taken up. We are now previewing Tower A and will officially open it for sale tomorrow,” says president and chief executive officer Tan Sri Liew Kee Sin.

“This will be the group’s final official launch before the end of the 5/95 programme,” he says.

Given the strong bookings it has on hands, Liew says SP Setia is unlikely to extend its incentive schemes beyond this month.

“We will stop launching any more new products for a few months and concentrate on delivering what had already been sold,” he says.

SP Setia, the largest developer by market capitalisation and sales, has been offering 5/95 home loan package and no interest payments during construction since January to give a boost to the company’s sales.

As of 30 June, SP Setia sales touched RM1.04bil, close to its full-year target of RM1.1bil for financial year ending Oct 31, 2009.

SP Setia has cash reserves of RM551mil and a net gearing of 0.23 times.

Sunrise bookings

Niche high-end developer Sunrise Bhd is among the developers who have benefited from the introduction of attractive incentive schemes.

“Our new bookings have soared to over RM242mil for Mont’ Kiara 11 condominiums and Residence bungalows from our promotion for both projects from March to June this year,” says an official of the company.

Mont’ Kiara 11 residences and the Residence bungalows are priced at an average selling price of RM850 psf and from RM5mil each respectively.

Following the introduction of the 10/90 financing schemes and zero payment up to two years of delivery promotion, Sunrise’s bookings have picked up since mid-March.

In fact, the collective sales for both projects within the first month of promotion have been catching up on its cumulative sales of RM247mil for the first nine months.

Yee of HwangDBS says about 47% of the company’s RM965mil unbilled sales (excluding the new bookings of RM242mil) will deplete by this year-end with the completion of Mont’ Kiara 10 and Solaris Dutamas.

“Sunrise needs to launch new projects in order to replenish its unbilled sales,” she says.

In response to this, the company’s spokesperson says, “It’s too premature to say when we will have our next launch. We are watching the economy right now.”

“Nonetheless, we have comfortable gearing, ample landbank and a pipeline of new projects to be launched, depending on market conditions.”

Sunrise, the largest prime landowner in Mont’ Kiara, is expected to launch its RM732mil Mont’ Kiara 28 condominiums with selling price of RM670 psf in early 2010.

Other launches in the pipeline are its Mont’ Kiara 20 mixed development and Lot 121 Solaris Office Tower. The former has a gross development (GDV) of RM767mil while the latter has a GDV of RM455mil. Both projects has an average selling price of RM700 psf.

Meanwhile, Sunrise will also have RM336mil of completed properties available for sale, which will underpin its earnings until end-2011, says Yee.

On the outlook for the company, the spokesperson says, “The outlook ahead will remain challenging. Much will depend on the strength of the recovery. But the worst is behind us.”

He says the low interest rates and the lack of new launches over the past year as well as the expectation of rising inflation will underpin property demand in the near future.

Legenda@Southbay

Mah Sing Group Bhd managing director and group chief executive Tan Sri Leong Hoy Kum says the company hopes to bring forward the soft launch of its Legenda@Southbay in Penang to the second half of this year.

“We have not held back any launches due to the strong take-up for our products. In fact, we may bring forward some launches,” he says.

The group plans a soft launch of the first 15 units of its Legenda@ Southbay bungalows with some GDV of RM30mil sometime in the second half. The whole project consists of 76 units with total GDV of RM284mil.

“We are looking to bring forward the launches of our Legenda@Southbay due to the overwhelming response for our three-storey super link project Residence@Southbay,” he says.

To date, Mah Sing has sold about 89% of its launched units in Residence@Southbay. Since its launch in May, it registered cumulative sales of 177 units valued at RM149.15mil.

“We have exceeded our 2009 sales target for this project by 60%, and this boosted our confidence that the market in Penang is receptive to our product concept and value proposition,” says Leong.

For the first half, Mah Sing launched seven property projects worth RM315mil, meeting 80% of the company’s full-year launch target of RM394mil.

Leong says the company has achieved approximately 70% of its full-year sales target of RM453mil within the first half of the year.

LATEST:
by WarzauWynn is traveling SE Asia
http://www.flickr.com/photos/warzauwynn/3752244302/

http://farm3.static.flickr.com/2488/3752244302_64b7e2d1fa_o.jpg

kitchen
http://img32.imagefra.me/img/img32/2/7/29/mercuri/f_6klkc1k7lwm_9ab38bc.jpg

bed room
http://img29.imagefra.me/img/img29/2/7/29/mercuri/f_6kpdtxur14m_cf24c4f.jpg

bathroom
http://img29.imagefra.me/img/img29/2/7/29/mercuri/f_6kt6hxirpbm_f5d2ce3.jpg

http://biz.thestar.com.my/archives/2009/8/4/business/p4-propertycht.JPG

http://farm4.static.flickr.com/3072/3793792893_504ca56f9c_o.jpg

http://farm4.static.flickr.com/3492/3794612292_4b9c18ec53_o.jpg

http://farm3.static.flickr.com/2617/3794611952_b199b114e4_o.jpg

http://www.flamed2.com/urban/2009/07/31/st-mary-residences-cbd-klcc-eo-prop-preview/

They missed the boat again!!!They might as well turned it into a parking lot!!!

http://stmaryresidences.com/

http://stmaryresidences.com/

got 2 flrs retail area....

E&O plans to launch RM4bil property projects


KUALA LUMPUR: Property developer Eastern & Oriental Bhd (E&O), which is looking to raise RM200mil from a 1-for-2 rights issue slated to be completed before the year-end, is targeting to launch RM4bil worth of properties in two to three years.

Managing director Datuk Terry Tham said about RM2bil worth of projects would be launched in the Kuala Lumpur central business district and the balance in Penang.

He said most of E&O’s current projects had good take-up rates, despite the tough economic environment.

“On average about 80% of our property projects have been taken up,” he said after the company EGM yesterday.

He said E&O’s fund-raising exercise would help the company take advantage of the opportunities that might arise in the next economic upturn.

The fund raised would have a coupon of 8% per annum, and irredeemable convertible secured loan stocks (ICSLS) holders have the option to convert to E&O shares any time within the 10-year tenure to take advantage of any upside in the share price.

Also, the ICSLS are secured against the assets of the E&O group to mitigate the risk for holders in the event of a default.

“The money raised from the rights issue will be used to fund strategic acquisitions for expansion purposes,” Tham said, adding that it would also help lower E&O’s gearing from 0.79% to 0.16%. We will channel the bulk of funds raised specifically towards the development of ready-to-market and strong-branded E&O products in prime locations.”

Tham said E&O had another target: raising RM500mil within 18 months. “We have raised RM100mil from property sales and RM200mil could potentially be raised from the rights issue and the balance from internal funds and future property sales.”

He said it was important for E&O to strengthen its balance sheet before embarking on an expansion. Currently, E&O has cash reserves of about RM300mil.

Tham said in the past three months the property market, especially the high-end category, had shown early signs of recovery.

Launching in SG this weekend. Tower A, KLCC view start from 1.9 mil...

Launching in SG this weekend. Tower A, KLCC view start from 1.9 mil...

i saw the advertisement on SG's THe Straits Times today

i saw the advertisement on SG's THe Straits Times today

Ya.. I saw The Pavilion Residences too...

^^ i tot PV already sold out long time ago!!!

http://www.eoprop.com/eop/_repository/eop_v2/image_right/stmary_aerial_view.jpg

the mayang????

http://farm4.static.flickr.com/3526/3876148433_ca7c6ff72d_o.jpg

http://farm3.static.flickr.com/2629/3876148141_df199a20ac_o.jpg

can anyone enquire wats the mayang?

Bank expects E&O to return to the black this year
By Francis Fernandez Published: 2009/09/04

The bottom line of Eastern & Oriental should return to the black in 2010 and jump 66 per cent in 2011 and 57 per cent in 2012, says CIMB Investment Bank

EASTERN & Oriental Bhd (E&O)(3417), a high-end property developer, could return to the black in the current financial year and stay profitable for the next three years, CIMB Investment Bank Bhd said in a report yesterday.

For the year to March 31 2009, E&O suffered a net loss of RM37.28 million compared with a net profit of RM128.85 million a year ago.

"The bottom line should return to the black in 2010 and jump 66 per cent in 2011 and 57 per cent in 2012. We believe robust earnings growth is sustainable even until 2013," wrote analyst Terence Wong in the report.

He noted that E&O has the highest upside to its target price if it manages to execute its ambitious launch schedule without too many hiccups.
The research house, which initiated coverage on the company yesterday, describes E&O as its top pick in the property sector with a trading buy target of RM2.18 a share.

This is a steep discount to E&O's revised net asset value of RM3.11 a share, which, according to CIMB's Wong, is the third steepest after UM Land Bhd and Hunza Properties Bhd and more than double the sector average.

Also, E&O has unbilled sales of RM310 million which should reap pre-tax profit margins of 25 per cent and this will be booked over the next two to three years, the CIMB report stated.

The group also has more than RM4 billion worth of properties that are ripe for launch over the next two to four years that should help in its turnaround prospect.

The bulk of the value comes from Seri Tanjung Pinang, a comprehensive mixed development township located 5km northwest of George Town and adjacent to Gurney Drive.

The project also involves reclamation of 397ha of land. So far this year, E&O has launched 33 link houses priced from RM1.1 million upwards, which were snapped up within hours.

Two intermediate units fronting the sea were sold for RM1.6 million, while two corner units, also fronting the sea, were sold for RM2.8 million, a record in Penang.

Its next launch will be the remaining 33 units of marina serviced apartments valued at more than RM30 million, while the biggest launch of the year will be condominiums with RM1.8 billion gross development value (GDV) in total.

Other sizeable launches include the Jalan Conlay condos with a GDV of RM800 million and the commercial building next to St. Mary Residences, situated in the heart of the Golden Triangle, with a GDV of RM500 million.

E&O jumps to 12-month high
Written by Surin Murugiah
Friday, 04 September 2009 00:59

KUALA LUMPUR: EASTERN & ORIENTAL BHD (E&O) rose as much as 17% to a new 12-month high of RM1.52 on Sept 3 after CIMB Research called it the property sector’s top pick as it is well positioned to ride the next upturn, while the strong response to recent launches attests to the group’s marketing prowess.

Initiating coverage on the stock with a trading buy, the research house said it was not only a highly liquid deep-value stock but was also one of the highest-beta property stocks.

E&O, which owns a 124-year-old hotel in Penang, eased at the close but was still up 13.1% or 17 sen at RM1.47 with 23.56 million shares done, on CIMB Research’s report that tags the stock with a target price of RM2.18.

The stock earlier rose as much as 22 sen to the intra-day high of RM1.52.

CIMB Research said E&O had fallen off investors’ buy list over the past few years and at its worst, the share price was down nearly 90% as losses in FY3/09 derailed the share price.

“While we concede that E&O’s execution track record leaves much to be desired, the share price has overreacted to the bad news and ignored the company’s pluses, that is, its strong brand name recognition and excellent landbank in Kuala Lumpur and Penang,” said CIMB Research.

It said E&O’s St Mary Residences’ take-up rate since the soft launch in June now exceeded 80%. St Mary Residences is located in KL’s golden triangle district.

“Likewise, the 2½-storey links in Penang priced from RM1.1 million onwards were snapped up within hours of launch. E&O has aggressively lined up over RM4 billion worth of PROPERTIES for launch over the next two to four years,” it said.

CIMB Research said E&O’s prospects were promising, as evidenced by the strong take-up for its recent launches in Kuala Lumpur and Penang.

“We believe prospects for residential properties in the Klang Valley remain healthy in view of the area’s strong purchasing power and relatively high population growth.

“Also, residential overhang, the number of unsold properties (completed and under CONSTRUCTION) in the Klang Valley, has been gradually declining,” it said.

It said for Penang, the overhang was even less of a concern, having almost halved since 2004.

As a proportion of annual demand, the unsold stock in the Klang Valley and Penang was also below the national average, it said.

CIMB Research said E&O’s strong branding and marketing, particularly for higher-end residential properties, gave it an edge over other developers in the same space.

The group has been involved in high-rise and landed residential properties for many years now and has a good following among purchasers, it said.

“Throw in its ability to acquire or go into joint ventures involving prime landbank at reasonable prices and E&O has a very appealing proposition for buyers.

“The launch of St Mary Residences at a time when most developers are sitting on the sidelines waiting for greater clarity attests to the group’s willingness to take calculated risks and its ability to take advantage of improving conditions,” it said.

CIMB Research said besides residential properties, E&O also had exposure to commercial properties and was planning an office building next to St Mary Residences.

Prospects for office buildings in Kuala Lumpur are trickier than for residential as there are some stalled projects and demand for rental space has been affected by the economic downturn, it said.

“But at the same time, there is still an appetite for en bloc transactions, going by Mah Sing’s recent deal.

“The commercial component of E&O’s Seri Tanjung Pinang should enjoy stronger interest as much of it could cater to the increasing population and popularity of the area. E&O plans to lease out a commercial building to Tesco in a transaction that values the land at RM220 psf,” it said.

CIMB Research said the potential re-rating catalysts for E&O include the unlocking of the hidden value of its assets through its ambitious launch schedule; strong earnings momentum, going by its recent brisk sales; and a return of investor interest in bombed-out liquid developers.

Eastern & Oriental (E&O) expects to launch St Mary Service Apartment Phase 2 in October 2009. First phase launched achieved 80% take-up rates.

E&O poised to capitalise on better market conditions
Published: 2009/09/30

HIGH-end property developer Eastern & Oriental Bhd (E&O) (3417) is well-poised to capitalise on the improved market conditions, managing director Datuk Terry Tham says.

"Our strong brand and proven track record has helped with successes achieved at our recent property launches," he said in a statement in Kuala Lumpur yesterday.

E&O's new launches since June, namely the St Mary Residences in Kuala Lumpur and Seri Tanjung Pinang's seafront terraces and serviced residences, achieved at least 80 per cent take-up rates within a few weeks, he said.

He said the resounding response to these launches provided the impetus for the company to unveil the second block of St Mary Residences, Tower A, via a soft launch in Singapore and Hong Kong in August and September.
Tham said that with the stream of property launches lined up for the next 12 months, E&O expected its financial position to continue improving in the next quarter and in the year ahead. - Bernama

stmary phase2 lauching tomorrow 1/10/09
size
studio suite - 1131sqft - 1bed
city suite - 1442sqft - 2+1bedrooms
metro suite - 2249sqft - 3+1bedrooms

easy pymt-pay 110k and nutin else until cpmpletion
completion june 2012
price - 1.476m to 9.477m

E&O bullish on second phase of St Mary Residences
Saturday October 3, 2009
By EUGENE MAHALINGAM

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) is optimistic about the take-up for its St Mary Residences Phase 2 serviced apartments, says executive director Eric Chan.

“Interest has been good. We feel it is timely for investors to enter the Malaysian market in view of the recent (property) rally in Singapore and Hong Kong,” he told StarBizWeek yesterday.

Chan said the company had been promoting the project, launched on Thursday, in several countries, namely Singapore, Hong Kong and China, and was targeting to sell 30% of Phase 2 (or Tower A) by tomorrow.

“We hope to attract buyers from Singapore and Hong Kong who ‘missed the boat’ during the property rallies in their respective countries,” he said.

St Mary Residences is located at the heart of Kuala Lumpur’s central business district along Jalan Sultan Ismail, Jalan P. Ramlee and Jalan Tengah. Tower A will comprise 288 luxury condominiums.

The units are smaller than most serviced residences within the KL city centre, with its one-bedroom units starting at 1,100 sq ft.

“Since the global financial crisis, rental budgets for expatriates have been slashed. St Mary Residences offers smaller but luxurious units at lower rentals, yet the units have a spacious feel,” said Chan. The one-bedroom units are priced from RM1.1mil.

Phase 1 (Tower C) was targeted at mostly local buyers and E&O achieved a 75% take-up rate in just 10 days when it was launched in June, Chan said, adding that he did not expect a similar rally for Phase 2.

“Many of the purchasers for Phase 1 comprised repeat customers who knew our products and brand well, so the speed of the acquisitions was quicker. Because Phase 2 is being targeted at the regional market, take-up will probably take longer.”

He said the local property was still a favourable investment for foreigners despite the current economic downturn.

“Malaysia has a sound financial system, stable economy, low cost of living and a favourable exchange rate. What’s more, properties here are among the cheapest in the region.

“With the recent economic stimulus and liberalisation policies, we expect a lot of foreign direct investment for Malaysian residential properties,” he said.

E&O will also be offering attractive packages (for Phase 2), such as a 10:90 financing scheme, zero interest during construction, free stamp duty upon transfer and free loan legal fee.

Tower A would be fully furnished, Chan said. “This makes it hassle free for our customers.”

There will also be 34,000 sq ft of retail space that will be annexed into Tower A.

“We are looking at setting up a spa, laundry and food and beverage centres – outlets that would add to the convenience of our residents,” he said, adding that Towers A and C would have a combined gross development value of RM750mil, and construction was expected to be completed by 2012.

stmary phase2 lauching tomorrow 1/10/09
size
studio suite - 1131sqft - 1bed
city suite - 1442sqft - 2+1bedrooms
metro suite - 2249sqft - 3+1bedrooms

easy pymt-pay 110k and nutin else until cpmpletion
completion june 2012
price - 1.476m to 9.477m

110k for all price range??

can anyone enquire wats the mayang?
Its a restaurant cum bar.

http://farm4.static.flickr.com/3483/3970733401_d743998afa_b.jpg

St Mary Residences' Tower A achieves 25% take-up rate in four days
By Lam Jian Wyn of theedgeproperty.com
Monday, 05 October 2009 10:45

KUALA LUMPUR: The second phase of Eastern & Oriental Bhd’s (E&O) St Mary Residences, Tower A, achieved a take-up rate of 25% following its launch on Oct 1, said the company. E&O also said that there was a substantial number potential buyers registering interest in the second phase of the project, and who are expected to place their bookings soon.

“Thus far, Tower A purchasers are from Malaysia, Singapore and Hong Kong,” said E&O’s general manager of marketing and sales, Lim Hooi Yen.

“We are positioning Tower A for the regional market, for those who wish to own a slice of upmarket KLCC property, via a series of marketing road shows overseas. We expect the composition of buyers to expand as we progress,” Lim added.

Tower A of St Mary Residences comprises a 28-storey block totalling 288 units.

There are rooftop penthouses with built-ups of 6,000 sq ft, as well as 2- and 3-bedroom suites sized between 1,453 and 2,260 sq ft in addition to 1-bedroom suites sized at 1,135 sq ft.

The units are priced from RM1.1 million.

There is also a 2-storey retail annexe with bistros and wellness spas.

St Mary Residences is located at the core of Kuala Lumpur’s central business district (CDB) along Jalan Sultan Ismail, Jalan P Ramlee and Jalan Tengah.

It is a joint-venture development between E&O and Lion Industries Corp Bhd. Tower C, which is the first phase, was soft-launched in June and achieved a take-up rate of 80% within a month. The average selling price was RM1,000 psf.

With a gross development value of RM1 billion, it rests on the former St Mary’s School site and is due for completion in June 2012. The 1.2-acre freehold development features three towers of 28-storey serviced apartments totalling 657 units.

Advertisement frenzy :nuts:
http://farm3.static.flickr.com/2564/3989262393_dd4756861b_b.jpg

Well done lion group!! they only 13 years little to late with this one!!!

Eh, if this is now St. Mary Residence, whatever happened to that E&O Hotel that was supposed to be on the site? Plans changed already?

Location

http://eop.e-o-group.com/_repository/eop_v2/media_releases/mergexcel_masterlayout.jpg

- St. Mary Residence
- E&O Hotel @ Lot 595

http://www.eoprop.com/eop/_repository/eop_v2/image_right/stmary_aerial_view.jpg http://mw2.google.com/mw-panoramio/photos/medium/14519808.jpg

BONUS :cheers:
Public Mutual HQ @ lot 59

http://img37.picoodle.com/img/img37/3/11/25/f_06m_b84df97.jpg

3 towers St Mary Residences, Office tower Lot 595 and Lot 59 Public Mutual.

The are will be very dense!!

Dun forget new Wisma MPL redevelopmet which is located around there too!!

1 St Mary Residences - 3 towers
2 Hotel & Office tower - 40fl
3 Public Mutual - 35fl
4 Wisma MPL redevelopment - 50fl

http://www.picamatic.com/show/2009/10/11/04/13/5487985_900x623.JPG

From flickr

http://farm4.static.flickr.com/3514/4001483572_c0756b297f_b.jpg

http://www.realestatechannel.com/news-assets/StMaryResidences25.9.09NightPerspective.jpg

Zerin Properties Presents St Mary Residences by Eastern and Oriental

Visit Us in the Malaysian Pavilion at Excel London on 22nd Oct to 24th Oct to be part of Asia’s Booming Real Estate Market


Located in the heart of Central Business District (Jalan Tengah), St Mary Residences is a truly "inner-city-living" apartment. It is merely a few minutes walk to the iconic Petronas Twin Towers and the award winning 5 star Pavilion Mall in Bukit Bintang. This development is due for completion in early 2012 and comes with a 1.2 acres "central park" which is part of the facilities (a generous space) & a 2 storey retail annex to create an intimate enclave & convenience for the residents. Below please find some brief information on this development:

Name : St Mary Residences
Land Tenure : Freehold
Total Units : 657 (3 Towers)
Built-up : 2249sf (3 bedrooms)
: 1442sf (2 bedrooms)
: 1131sf (1 bedroom)
: Others
View : KLCC View & KL Skyline
Price : RM1,250psf (average)

For the Excel London Exhibition, we have the following benefits:

5% Discount
Free legal fees for Sale & Purchase Agreement (SPA) - panel lawyer only
Free loan interest during construction*
Free return trip to Kuala Lumpur including 3 days/2 Nights Stay in Shangri-La Kuala Lumpur (limited to this event)
*Subject to loan approval and maximum loan of 70% of SPA price.


Contact Detail :

Mr Alan Rajah (London Office)
Tel: +44 (0) 20 8861 7561
E-mail: alan@zerinproperties.com

Mr Terence Yap (Kuala Lumpur Office)
Mobile: +6012-210-3557
E-mail: terence@zerinproperties.com

http://www.watg.com/uploads/images/portfolio_E16BCEFC-1372-6883-16B72191F7521960.jpg

http://www.watg.com/uploads/images/portfolio_E1638344-1372-6883-16FB7E0F3301DF5B.jpg

http://www.watg.com/uploads/images/portfolio_E16D6AAB-1372-6883-169481CE605F8DF6.jpg

http://www.watg.com/uploads/images/portfolio_E168E7D2-1372-6883-16BDA28BEBB6236E.jpg

http://www.watg.com/uploads/images/portfolio_E1615B63-1372-6883-16C3644A3E0FB016.jpg

http://www.watg.com/uploads/images/portfolio_E16825DA-1372-6883-163A3456A8AF0920.jpg

St Mary Condo & E&O Hotel/Office



http://www.watg.com/uploads/images/portfolio_E169DDAB-1372-6883-168003882F1E0AC3.jpg

http://www.watg.com/uploads/images/portfolio_E1673BB8-1372-6883-16045590060AE56D.jpg

http://www.watg.com/uploads/images/portfolio_E1627F32-1372-6883-168930A4E9AFCCB0.jpg

the office tower is nice........

How many floors does the office block have? 40+?

35....can c minor changes but still nice huh...juz simple boxy tower...but better than capsquare

St Mary Condo & E&O Hotel/Office

http://www.watg.com/uploads/images/portfolio_E1627F32-1372-6883-168930A4E9AFCCB0.jpg

can c minor changes but still nice huh

http://mw2.google.com/mw-panoramio/photos/medium/14519808.jpg

http://static.worldarchitecturenews.com/project/uploaded_files/886_385%20Hamiltons%20Kuala%20Lumpur.jpg

I think the changes improve it. Any close up rendering of the retail podium?

>> http://www.skyscrapercity.com/showthread.php?t=919422

St Mary Residences to set new benchmark in Jalan Raja Chulan

http://biz.thestar.com.my/news/story.asp?file=/2009/11/7/business/5045842&sec=business

Something is going on site!!!Dont know if they starting the superstructure,

Something is going on site!!!Dont know if they starting the superstructure,

:banana::banana: 6 months later it will start rising.............

Ahyo its about timelah!!!

Ahyo its about timelah!!!

Ye la, why still no progress till now... ????:ohno:

Tower crane is up.

snap snap pls.....

Besides the tower crane not much elselah pat for now.

Big hole is slowly gonelah ,went by the site today 3 tower cranes up and running,one of the 3 towers are already 2 flrs from the basement level,no gambar i will let all the pro"s take care of that.

^^ Apelah abg dengilo,you always near that area tapi tak ambil gambar pun! :lol:

Anyways thanks for the info!! :)

E&O Office/Hotel Tower

E&O to sell land to Hap Seng for RM103m
Published: 2009/12/22





EASTERN & Oriental Bhd (E&O) has entered into a sale and purchase agreement to sell a 4,651.203 sq m land together with preliminary works carried out thereon to Hap Seng Consolidated Bhd for RM103 million.

The sale is expected to be completed by first quarter of 2010. The plan is for Hap Seng to develop a 35-storey office building with a five-storey basement carpark on the land.

As at November 30 2009, E&O’s total bank borrowings stood at RM1.03 billion. Assuming the entire proceeds from the sale were to pare down borrowings, E&O can save RM5.8 million in financing cost based on an average 5.7 per cent interest rate per year.



.....now we know y dis project really slow!!!!......

Rizal thats trully good news thanks

Very disappointed with the design. very mediocre.

Nova thats why i am happy hap seng bought over.After what they have done to mui plaza
i am certain they will come up with something better than what E&O had planned.

Apa jadi projek neee!?
by nautical2k
http://www.flickr.com/photos/joshsjackson/3635675055/

http://farm3.static.flickr.com/2482/3636488842_1435b7117c_b.jpg

UPDATE:
From flickr

http://farm5.static.flickr.com/4011/4205996266_ca0019defd_b.jpg

http://farm5.static.flickr.com/4001/4203063768_f6416d0340_b.jpg

http://www.theedgeproperty.com/images/stories/hapseng_500x333.jpg

E&O did the right thing selling it to hap seng.

Proposed buy of Jln Tengah land expensive yet strategic for Hap Seng
By Racheal Lee of theedegeproperty.com
Tuesday, 22 December 2009 21:56

PETALING JAYA: The proposed land acquisition of the 1.1-acre land on Jalan Tengah in Kuala Lumpur by Hap Seng Consolidated Bhd is an “expensive but strategic” deal, a property consultant said on Tuesday Dec 22.

Speaking to theedgeproperty.com, VPC Alliance (Malaysia) Sdn Bhd managing director James Wong said the higher price was probably due to the attached development order (DO) and the location of the land, which is just next to Menara Hap Seng (pictured) and Hap Seng Star Mercedes-Benz showroom in the Central Business District (CBD) of Kuala Lumpur.

“This deal has a marriage value for Hap Seng Group, which allows its developments to have frontage to three roads - Jalan Sultan Ismail, Jalan Tengah and Jalan P Ramlee,” he added.

Hap Seng Consolidated had on Dec 21 proposed to acquire the freehold land from Eastern & Oriental Bhd (E&O) for RM103 million. The latter is expected to get a one-off gain of RM31 million from the disposal that is expected to be completed in the first quarter of 2010.

E&O bought the land for RM26.58 million in May 2006. It was granted a DO by the Kuala Lumpur City Hall (DBKL) in September 2007 and July 2008 to develop a 35-storey office building with a five-storey basement carpark.

The land is currently vacant save for certain preliminary substructure and piling works that have been carried out previously.

Wong expects Hap Seng Consolidated to submit a revised plan for the land to connect the new development to Menara Hap Seng, formerly known as MUI Plaza.

Hap Seng Land Sdn Bhd, a wholly-owned subsidiary of Hap Seng Consolidated Bhd, purchased the then MUI Plaza from MUI Properties Bhd in 2004 for RM167 million before converting it into an integrated office-cum-retail building Menara Hap Seng.

Hap Seng Land chief executive (property division) Datuk Paul Ng had early this year said the company plans to buy lands and properties in Klang Valley, especially those in the CBD area.

http://farm3.static.flickr.com/2544/4217865234_daaa27835f_o.jpg

http://farm3.static.flickr.com/2640/4217097961_1b39025d60_o.jpg

http://farm3.static.flickr.com/2661/4217098093_ef44444b20_o.jpg

http://farm3.static.flickr.com/2788/4217098221_7b96b8c8cf_o.jpg

http://farm3.static.flickr.com/2585/4217865752_5e7b81f28a_o.jpg

http://farm3.static.flickr.com/2686/4217098567_409ca10955_o.jpg

Thank you for the photos!Just for ur info the best spot for photos is from wisma hap seng podium ,wisma kfc and bangunan mas from the mamak joint.

this project is progressing well.... lotsa workers.... was looking downwards from one of the offices around there last week..................

Still no idea which company got the contract for the superstucture!

Late Evening...
From flickr

http://farm3.static.flickr.com/2427/4283774755_ae5429c80b_b.jpg

http://farm5.static.flickr.com/4030/4284645187_bfef684ebe_o.jpg

http://farm5.static.flickr.com/4025/4285388690_abe4f71c38_o.jpg

http://farm3.static.flickr.com/2716/4284644271_0f8d8ba76d_o.jpg

http://farm5.static.flickr.com/4064/4284644089_d51d6c4ae4_o.jpg

http://farm3.static.flickr.com/2777/4285388822_fdf26bedf9_o.jpg

http://farm5.static.flickr.com/4048/4284644821_0002cfa666_o.jpg

http://farm5.static.flickr.com/4020/4285389182_d10d3e83c7_o.jpg

now at level 1

i believe they have split the superstructure works amongst many contractors - of which E&O themselves are managing as the Project Management Contractor..

From flickr

http://farm5.static.flickr.com/4053/4355410535_26ca6975dc_b.jpg

From flickr
by aenertia

this pic was taken in january 2010
http://farm5.static.flickr.com/4069/4427205146_3645da3b5f_b.jpg

http://farm5.static.flickr.com/4011/4426442307_0bf6f0f776_b.jpg

From flickr
by yachichurova

http://farm5.static.flickr.com/4023/4429206646_20132fe62a_b.jpg

just please... don't halt the construction half way.

http://pictures.iproperty.com.my/imglib/developers/showunit/640/eae77a8fbe254cfc9dc94eb2e3980689.jpg
http://pictures.iproperty.com.my/imglib/developers/showunit/640/7a1c5193a60d4053af88a9b3e52890cf.jpg

just please... don't halt the construction half way.

unlikely lah... spend so much on land... + they got a commitment to St Mary to keep, so no choice..

http://ericyong77.com

U mean the church?

http://farm5.static.flickr.com/4060/4476915114_5a83c93434_o.jpg

http://farm3.static.flickr.com/2772/4476138855_a7ddfc9a6a_o.jpg

http://farm3.static.flickr.com/2751/4476915448_c69d2ddebe_o.jpg

http://farm5.static.flickr.com/4023/4476915634_37bb82e409_o.jpg

http://farm5.static.flickr.com/4046/4476915796_0fa30a173b_o.jpg

Thanks for the photos Msyukry!:cheers:Maka dengan ini anda dilantik secara resmi menjadi jurugambar forum ini:cheers::lol:But not only on going projects bro also make it a point to snap away some of the older building around town:lol:l:might not be around in the future!Thanks so must for the effort well done:cheers:

this year got so many projects under construction..awesome!the best part is that they are all going to complete almost at the same time..hope more to come..some body must help syukry la in the future.

http://www.eoprop.com/eop/_repository/eop_v2/image_right/stmary_aerial_view.jpg

dense- impressive skyline when it is completed.

wow..that area will be more densely when it's completed...rows and rows of tall buildings!..when they build the public mutual building
(i think) at the empty lot on the right..then the area will be completed..

one cool thing about that area,all the building are of the same height and dense which really gives a good look

can anyone snap photo on this project signboard, let us know who is the consultant & construction team

i believe they have split the superstructure works amongst many contractors - of which E&O themselves are managing as the Project Management Contractor..


You are rite ..but the main contractor is the usual e&o preferred contractor..i know who are they...

You are rite ..but the main contractor is the usual e&o preferred contractor..i know who are they...


if not mistaken, is Kerjaya Prospek (M) Sdn Bhd...

http://farm5.static.flickr.com/4024/4493466537_89212e0996_o.jpg

http://farm3.static.flickr.com/2788/4494105548_e4ec042d24_o.jpg

http://farm5.static.flickr.com/4045/4494105716_5874f5f9eb_o.jpg

^^ :eek2: St.Mary's Office Tower starting!!,thanks for the pics Syukry :cheers:

http://farm3.static.flickr.com/2788/4494105548_e4ec042d24_o.jpg


Why there's no time schedule for the project like in ordinary JKR project?

^^ Still only prep works going on,they must be waiting for approval from DBKL so they clear the land first...

is it old project signboard?

if not mistaken, is Kerjaya Prospek (M) Sdn Bhd...


Yes you are rite..but for this project they use other name...

From Flickr

http://farm3.static.flickr.com/2766/4490838012_26bcf38c74_b.jpg

Yes you are rite..but for this project they use other name...

if not mistaken, they use the name of Permatang Bakti Sdn Bhd....
are you one of the staff inside the construction arm? I believe they are now venturing into Penang construction market...

if not mistaken, they use the name of Permatang Bakti Sdn Bhd....
are you one of the staff inside the construction arm? I believe they are now venturing into Penang construction market...


No, im not....they already in Penang market doing E&O projets...near batu feringi...how bout u?

http://farm5.static.flickr.com/4024/4493466537_89212e0996_o.jpg

http://farm3.static.flickr.com/2788/4494105548_e4ec042d24_o.jpg

http://farm5.static.flickr.com/4045/4494105716_5874f5f9eb_o.jpg

http://www.watg.com/uploads/images/portfolio_E1627F32-1372-6883-168930A4E9AFCCB0.jpg

:cheers:

^^ :eek2: St.Mary's Office Tower starting!!,thanks for the pics Syukry :cheers:

manade start....kan HapSeng group beli projek ni....

^^ Youll never know...aku rase hujung tahun ni la,diaorg dah clear the site,mungkin superstructure tu baru naik tahun depan bukan tahun ni...nak mula tahun depan x logic...