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Old March 29th, 2012, 01:33 PM   #1
patchay
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LATITUD8 | Kuala Lumpur (Dang Wangi LRT Station) | 43 fl | U/C

Crest Builder wins SPNB tender
Mar 29, 2012
http://announcements.bursamalaysia.c...9?OpenDocument

The Board of Directors of CBHB wishes to announce that its wholly owned subsidiary, Crest Builder International Sdn Bhd & its joint venture partner Detik Utuh Sdn Bhd, acting under unincorporated Consortium known as Crest Builder International Sdn Bhd & Detik Utuh Sdn Bhd JV (“Crest Builder – Detik Utuh JV”), had on 29 March 2012 received a Letter Of Acceptance dated 28 March 2012 from Syarikat Prasarana Negara Berhad (“Prasarana”) on the above proposed joint venture development.

The Salient Terms of the Letter of Acceptance are as follows:-


1) A Joint Land Development Agreement shall be executed between Prasarana and Crest Builder –Detik Utuh JV whereby Crest Builder-Detik Utuh JV shall undertake to carry out the Development and Prasarana as the landowner.

2) The proposed development is a mixed commercial development which comprises of a retail mall, upscale premium serviced residential suites, hotel and offices.

3) Prasarana shall be entitled to twenty one point two (21.2%) per cent of the Gross Development Value which is estimated at Ringgit Malaysia Two Hundred and Twenty Million (RM220,000,000.00).

The Proposed Joint Venture Development will not have any significant effect on the earnings or net assets of CBHB for the financial year ending 31 December 2012, and the share capital of the Company. However, it is expected to contribute positively to the future earnings of CBHB.

The risk factors for the Proposed Joint Venture Development will include but not limited to those associated with changes in the economic and regulatory conditions such as changes to cost of funding and taxes.

None of the Directors and/or major shareholders of the Company, or persons connected with them have any interest, direct or indirect, in the Proposed Joint Venture Development.

This announcement is dated 29 March 2012.



Quote:
Originally Posted by rizalhakim View Post
Prasarana in property joint venture

PETALING JAYA: Syarikat Prasarana Negara Bhd will work with a local property developer to build a RM200mil high-rise mixed development project over its underground Dang Wangi light rapid transit (LRT) station.

Managing director Datuk Shahril Mokhtar said they had made the decision last week in selecting the best developer to work with Prasarana and due announcement would be made soon.

“The bidders submit their proposals via an open tender process and presented their creative ways to develop the piece of land there.

“It’s going to be a mixed development of offices and residential units,” he told reporters after the memorandum of understanding signing yesterday between Prasarana and the Malaysian Anti-Corruption Commission yesterday.

This property venture will be the first for Prasarana that is expected to enhance its revenue stream.

It was previously reported that UDA Holdings Bhd was one of the developers that had sent a proposal to Prasarana to jointly develop the 11,008 sq m.

Previous reports also described that the Dang Wangi development might be emulating the Kuala Lumpur City Centre with underground LRT.

Going forward in this new venture, Prasarana would also be looking at other locations with potential to have property developments especially in high traffic areas such as Ara Damansara, Subang Jaya KTM station and Awan Besar along the Kesas Highway.
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Old March 29th, 2012, 02:02 PM   #2
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thats great news
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Old March 29th, 2012, 06:13 PM   #3
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total GDV expected - RM 1.04 billion
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Old March 29th, 2012, 06:28 PM   #4
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wah Mr.Eric...belanja us makanlah.....boss.....can give us more details or not???
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Old March 29th, 2012, 06:35 PM   #5
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http://eforericyong.blogspot.com/201...gi-tender.html
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Old March 29th, 2012, 06:36 PM   #6
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LOL.... i belanja makan on PTLM gathering lor
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Old March 29th, 2012, 07:02 PM   #7
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Congrats Eric from the SSC Malaysia Community...

The earlier DRAFT from http://eforericyong.blogspot.com/201...gi-tender.html




Quote:
Originally Posted by ericyong View Post
LOL.... i belanja makan on PTLM gathering lor
Wahh!! Tq tq... Btw PTLM is PropertyTalk & Lifestyle Malaysia @ Facebook... you guys are welcomed to join http://www.facebook.com/groups/11517...20062341380856




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THE KUALA LUMPUR DEVELOPMENTS COMPILATION (LATEST: JAN'2015) >>> PAGE 1 >>> PAGE 2 (Suburb)

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Old March 29th, 2012, 07:05 PM   #8
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nice.
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Old March 30th, 2012, 04:56 AM   #9
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Quote:
Originally Posted by ericyong View Post
LOL.... i belanja makan on PTLM gathering lor
What is PTLM gathering?
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Old March 30th, 2012, 05:05 AM   #10
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Quote:
Originally Posted by choon View Post
What is PTLM gathering?
PTLM is PropertyTalk & Lifestyle Malaysia @ Facebook... you guys are welcomed to join http://www.facebook.com/groups/11517...20062341380856

We have an upcoming event >>> http://www.facebook.com/events/191808364266438/
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Old March 30th, 2012, 05:06 AM   #11
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still thinking of a name.... any ideas?
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Old March 30th, 2012, 07:05 AM   #12
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Eric's Tower.. sounds epic ma
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Old March 30th, 2012, 07:09 AM   #13
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Originally Posted by ericyong View Post
still thinking of a name.... any ideas?
dangi wangi central!!

on a serious note, when they expecting to start?
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Old March 30th, 2012, 07:49 AM   #14
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PTLM Tower....

Or...

Tower of Love Kuala Lumpur.... wah instant global landmark due to the name!!
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THE KUALA LUMPUR DEVELOPMENTS COMPILATION (LATEST: JAN'2015) >>> PAGE 1 >>> PAGE 2 (Suburb)

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Old March 30th, 2012, 08:55 AM   #15
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Last edited by davidwsk; April 17th, 2012 at 03:56 PM.
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Old March 30th, 2012, 08:57 AM   #16
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Last edited by davidwsk; April 17th, 2012 at 03:57 PM.
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Old March 30th, 2012, 09:06 AM   #17
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Make it upscale... make it upmarket mall.
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THE KUALA LUMPUR DEVELOPMENTS COMPILATION (LATEST: JAN'2015) >>> PAGE 1 >>> PAGE 2 (Suburb)

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Old March 30th, 2012, 10:59 AM   #18
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cool proposal...how tall is it???anyway heard dat da office tower will be Prasarana future HQ....
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Old March 30th, 2012, 11:42 AM   #19
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Quote:
Originally Posted by davidwsk View Post
One Dang Wangi... cuz the tower look like the number..

Common name yet easy to remember...

Or Dang Wangi Park as I saw some greens and garden there in the pic...

DW Sky Tower?
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Old March 30th, 2012, 11:48 AM   #20
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this tower maybe around 45 sty.
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