VISION CITY | Kuala Lumpur | U/C

pedang · July 18th, 2007, 03:51 AM

Vision City likely to be in Quill Capital Trust

By KATHY FONG

PETALING JAYA: Vision City, the integrated development project, could possibly be injected into Bursa Malaysia-listed Quill Capital Trust (QCT) on its completion in 2010 by the Quill Group of Companies (Quill group).

Quill Retail Malls Sdn Bhd, a subsidiary of Quill group, on Monday signed an agreement with Rashid Hussain Bhd to acquire the uncompleted Vision City project at Jalan Sultan Ismail, Kuala Lumpur, for RM430mil.

Based on QCT’s listing agreement, its manager, Quill Capital Management Sdn Bhd, had the first right of refusal on the commercial properties developed by Quill group and CapitalLand group, both of which are major shareholders.

Investment analysts said this right of refusal implied that there was a possibility of Vision City being injected into QCT should the development offer promising returns.

Quill group could only inject completed commercial property assets with tenancies into the real estate investment trust (REIT).

“The supply of investment-grade commercial space continues to be scarce.

“Against this backdrop, we believe Quill group's investment in Vision City will yield good returns and we intend to fast-track its completion to leverage on the strong demand,” executive director Datuk Michael Ong said in a statement issued on Monday.

The deal is one of the largest single property transactions in recent years.

The acquisition includes a pre-approved development order for the construction of a seven-level retail centre with a net lettable area (NLA) of 752,000 sq ft, a 35-storey office tower with NLA of 500,000 sq ft, a 45-storey serviced apartment block with 450 units and 2,280 car parks.

HSBC Malaysia's new annexe building, which is expected to be completed by the first quarter of 2010, is another asset that may be injected into QCT.

In June, the REIT announced to Bursa Malaysia it intended to buy Wisma Technip and Plaza Mont' Kiara for RM215mil.

The trust's current asset portfolio include HSBC Global Service Centre, BMW Malaysia headquarters and two DHL buildings, all of which are in Cyberjaya.

TWK90 · July 18th, 2007, 03:57 AM

Oh great! That leaves me wondering about Plaza Rakyat fate though.......

ZaHiRnYa??? · July 18th, 2007, 03:57 AM

at least..we can see a movement on the project

johnsonooi · July 18th, 2007, 04:00 AM

rendering?

patchay · July 18th, 2007, 05:36 AM

Rendering posted in Malaysia City.

ZaHiRnYa??? · July 18th, 2007, 05:39 AM

dont thin there will be any radical changes in the rendering...the picture above is exactly like the same one on the construction board at the site..

but is the thing in the middle one..the one like tentacles...

patchay · July 18th, 2007, 05:44 AM

Quote:

Originally Posted by ZaHiRnYa???

dont thin there will be any radical changes in the rendering...the picture above is exactly like the same one on the construction board at the site..

but is the thing in the middle one..the one like tentacles...

I think i saw the board before... the rendering there pretty cool leh. Faster go take pic of that.

pedang · July 18th, 2007, 06:14 AM

another mall

ZaHiRnYa??? · July 18th, 2007, 06:19 AM

Quote:

Originally Posted by pedang

another mall

yes...but it was an old project remember

nazrey · July 18th, 2007, 06:50 AM

COME ON BABY!

It will boost that area to the retail street as well.

ZaHiRnYa??? · July 18th, 2007, 06:58 AM

dont think so ler...

OshHisham · July 18th, 2007, 12:14 PM

why don't Universiti Kuala Lumpur buy the whole mall and convert them into 'campus'...?

another shopping mall is something.......boring lah!

SEED · July 18th, 2007, 01:30 PM

Quote:

Originally Posted by ZaHiRnYa???

dont thin there will be any radical changes in the rendering...the picture above is exactly like the same one on the construction board at the site..

thats crapy..

but at least its goin to be build.. hopefulli the whole thing will turn out 'k after its complete..

nazrey · July 18th, 2007, 01:41 PM

nazrey · July 18th, 2007, 01:43 PM

patchay · July 18th, 2007, 01:46 PM

That 2 unbuilt towers look very futuristic...

SEED · July 18th, 2007, 01:47 PM

eh.. that sign board.. looks like a new renders leh Zah! Patchay was rite!

and thx nazrey! u did it again!

ZaHiRnYa??? · July 18th, 2007, 03:23 PM

Quote:

Originally Posted by SEED

eh.. that sign board.. looks like a new renders leh Zah! Patchay was rite!

and thx nazrey! u did it again!

no ler...the sigboard was there forever..never change one lah...i use that road everyday ma

nazrey · July 18th, 2007, 04:09 PM

by mark benger

image hosted on flickr

nazrey · July 18th, 2007, 04:12 PM

New Shopping Heaven

July 18th, 2007, 03:51 AM	#1
pedang One Malaysia Join Date: Dec 2005 Location: Lembah Klang Posts: 2,872 Likes (Received): 1	VISION CITY \| Kuala Lumpur \| U/C Vision City likely to be in Quill Capital Trust By KATHY FONG PETALING JAYA: Vision City, the integrated development project, could possibly be injected into Bursa Malaysia-listed Quill Capital Trust (QCT) on its completion in 2010 by the Quill Group of Companies (Quill group). Quill Retail Malls Sdn Bhd, a subsidiary of Quill group, on Monday signed an agreement with Rashid Hussain Bhd to acquire the uncompleted Vision City project at Jalan Sultan Ismail, Kuala Lumpur, for RM430mil. Based on QCT’s listing agreement, its manager, Quill Capital Management Sdn Bhd, had the first right of refusal on the commercial properties developed by Quill group and CapitalLand group, both of which are major shareholders. Investment analysts said this right of refusal implied that there was a possibility of Vision City being injected into QCT should the development offer promising returns. Quill group could only inject completed commercial property assets with tenancies into the real estate investment trust (REIT). “The supply of investment-grade commercial space continues to be scarce. “Against this backdrop, we believe Quill group's investment in Vision City will yield good returns and we intend to fast-track its completion to leverage on the strong demand,” executive director Datuk Michael Ong said in a statement issued on Monday. The deal is one of the largest single property transactions in recent years. The acquisition includes a pre-approved development order for the construction of a seven-level retail centre with a net lettable area (NLA) of 752,000 sq ft, a 35-storey office tower with NLA of 500,000 sq ft, a 45-storey serviced apartment block with 450 units and 2,280 car parks. HSBC Malaysia's new annexe building, which is expected to be completed by the first quarter of 2010, is another asset that may be injected into QCT. In June, the REIT announced to Bursa Malaysia it intended to buy Wisma Technip and Plaza Mont' Kiara for RM215mil. The trust's current asset portfolio include HSBC Global Service Centre, BMW Malaysia headquarters and two DHL buildings, all of which are in Cyberjaya. __________________ ONE MALAYSIA

July 18th, 2007, 03:57 AM	#3
ZaHiRnYa??? you are you and i am me.. Join Date: Jul 2003 Location: Kuala Lumpur Posts: 5,820 Likes (Received): 1	at least..we can see a movement on the project __________________ me, me, me and more me.. he..he...

July 18th, 2007, 05:39 AM	#6
ZaHiRnYa??? you are you and i am me.. Join Date: Jul 2003 Location: Kuala Lumpur Posts: 5,820 Likes (Received): 1	dont thin there will be any radical changes in the rendering...the picture above is exactly like the same one on the construction board at the site.. but is the thing in the middle one..the one like tentacles... __________________ me, me, me and more me.. he..he...

July 18th, 2007, 06:14 AM	#8
pedang One Malaysia Join Date: Dec 2005 Location: Lembah Klang Posts: 2,872 Likes (Received): 1	another mall __________________ ONE MALAYSIA

July 18th, 2007, 06:58 AM	#11
ZaHiRnYa??? you are you and i am me.. Join Date: Jul 2003 Location: Kuala Lumpur Posts: 5,820 Likes (Received): 1	dont think so ler... __________________ me, me, me and more me.. he..he...

July 18th, 2007, 03:57 AM	#2
TWK90 Infrastructure Join Date: May 2007 Location: Petaling Jaya Posts: 3,080 Likes (Received): 180	Oh great! That leaves me wondering about Plaza Rakyat fate though.......

July 18th, 2007, 04:00 AM	#4
johnsonooi Proud to be Malaysian Join Date: Apr 2005 Posts: 805 Likes (Received): 19	rendering?

July 18th, 2007, 06:50 AM	#10
nazrey Registered User Join Date: Sep 2003 Posts: 72,626 Likes (Received): 297	COME ON BABY! It will boost that area to the retail street as well.

July 18th, 2007, 12:14 PM	#12
OshHisham BANNED Join Date: Nov 2005 Location: Damansara Kim Posts: 3,647 Likes (Received): 0	why don't Universiti Kuala Lumpur buy the whole mall and convert them into 'campus'...? another shopping mall is something.......boring lah!

July 18th, 2007, 01:41 PM	#14
nazrey Registered User Join Date: Sep 2003 Posts: 72,626 Likes (Received): 297

July 18th, 2007, 01:43 PM	#15
nazrey Registered User Join Date: Sep 2003 Posts: 72,626 Likes (Received): 297

July 18th, 2007, 01:47 PM	#17
SEED Registered User Join Date: Oct 2002 Posts: 3,146 Likes (Received): 1	eh.. that sign board.. looks like a new renders leh Zah! Patchay was rite! and thx nazrey! u did it again!

July 18th, 2007, 04:09 PM	#19
nazrey Registered User Join Date: Sep 2003 Posts: 72,626 Likes (Received): 297	by mark benger image hosted on flickr

July 18th, 2007, 04:12 PM	#20
nazrey Registered User Join Date: Sep 2003 Posts: 72,626 Likes (Received): 297	New Shopping Heaven

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