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Old April 28th, 2015, 12:52 PM   #141
azey
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TRX(TUN RAZAK EXCHANGE)

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Originally Posted by 3darchitect View Post
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Old May 30th, 2015, 07:04 AM   #142
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Published: Saturday May 30, 2015 MYT 12:00:00 AM
Updated: Saturday May 30, 2015 MYT 8:57:23 AM
1MDB to scale down ops


PETALING JAYA: 1Malaysia Development Bhd that has come under relentless attack for its financial transactions will be wound down by early next year.

According to sources, a programme is being crafted whereby Abu Dhabi will inject sovereign funds of up to US$4.5bil (RM16.4bil) into 1MDB – money that would be used to reduce its debts of RM42bil.

“The first tranche of the money will come in next week. The announcement is already out. The remaining amounts will come in batches and by early next year 1MDB will be wound down,” said a source.

The reduction of its debts will allow 1MDB to “downsize” its operations significantly and transfer the remaining liabilities to its three subsidiary companies, which are into property development and generation of electricity.

“The subsidiaries have assets and can hold some amount of debt. The holding company does not have adequate assets and that is why it faces cash-flow problems to service its debt obligations,” said sources.

The power generation company, which is Edra Global Energy, has three major power plants worth some RM13bil.

The property subsidiaries are broken into two – one holding the Tun Razak Exchange Development and the other the 200.3ha Sungai Besi airport land that is to be developed into Bandar Malaysia.

“The value of the land in TRX and Bandar Malaysia is estimated to be RM4.3bil,” said a source.

Yesterday, 1MDB announced that it had entered into an agreement with International Petroleum Investment Company (IPIC) and Aabar Investments whereby the Abu Dhabi companies would inject US$1bil (RM3.6bil) into the Malaysian fund.

By early next year, it is estimated that an additional sum of US$3.5bil (RM12.6bil) would be pumped in as part of the agreement.

In return, the Abu Dhabi companies would take over some of the assets held by 1MDB, including the “units” held in Singapore’s BSI Bank.

1MDB, established in 2009, is the brainchild of Prime Minister Datuk Seri Najib Tun Razak. It was supposed to spearhead Malaysia into projects that bring high impact to the economy.

However, it has come under scrutiny for its opaque financial transactions with companies based in the Middle East.

Among them is Petro Saudi International (PSI), which was the first joint venture partner that 1MDB locked up with in 2009.

The joint venture with PSI started with an initial sum of US$1bil. But the investment later ballooned to US$2.32bil (RM8.5bil) that was parked with funds based in the Cayman Islands.

A portion of the funds came back last year, according to 1MDB. But an amount of US$1.1bil (RM4bil) that was supposed to find its way back to help 1MDB redeem its debts was placed with BSI Bank in Singapore. The Finance Ministry has said the sum was in the form of “units”.

Apart from the investment with PSI, the fund has also come under fire for the high cost incurred in raising US dollar debt papers.

It raised US$3.5bil (RM12.7bil) in 2012 and another US$3bil (RM10.9bil) on March 19, 2013 – just a few weeks before the general election.

The funds were raised with a high degree of collateral and cost, something that is not usual for an entity such as 1MDB that is fully backed by the Government.

According to sources, the Cabinet was briefed that 1MDB has become a political hot potato to the extent that it is hurting Umno.

“The party comes above everything else for Najib. That is why he is deciding to wind down 1MDB,” said the source.
http://www.thestar.com.my/News/Natio...-on-the-cards/
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Old May 30th, 2015, 05:22 PM   #143
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Quote:
Indonesia's Mulia Group to develop Signature Tower
13 MAY 2015 @ 9:40 AM

KUALA LUMPUR: Tun Razak Exchange (TRX), Kuala Lumpur’s upcoming international financial district, announced today that it has signed Indonesia’s leading property developer Mulia Group on board to develop its Signature Tower. This follows the signing of the Sale and Purchase agreement between 1MDB Real Estate Sdn Bhd (1MDB RE), the master developer of TRX, and the Mulia Group for the development rights of the plot.

The land transaction is valued at RM665 million. 1MDB RE Chief Executive Officer Dato’ Azmar Talib said, “We are pleased to have the Mulia Group on board towards realising the potential of the Tun Razak Exchange. This significant investment underscores foreign investor confidence in Malaysia.”


The Mulia Group, which has a leading market share for premium commercial properties in Jakarta, developed, owns and manages seven premier office buildings in Jakarta's central business district, including the Wisma Mulia 1 and 2. Wisma Mulia 1 and 2 are ranked amongst Jakarta’s tallest and most prestigious office buildings that together house key global and local blue-chip companies in Indonesia. The Mulia group has also developed and managed internationally renowned hotels, and residential and shopping mall properties. Eka Tjandranegara, President Director and owner of the Mulia Group said, “As one of the biggest commercial property developers in Indonesia, we are excited to be embarking on this project to develop the Signature Tower to become the new landmark of Kuala Lumpur city.
Read More : http://www.nst.com.my/node/84058
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Old May 31st, 2015, 06:32 PM   #144
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that plot size though!
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Old July 9th, 2015, 04:48 AM   #145
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Construction start end of this year

http://www.thestar.com.my/Business/B...MDB/?style=biz

Quote:
KUALA LUMPUR: Australia-listed property developer Lend Lease, which in March formed a joint venture with 1Malaysia Development Bhd (1MDB) to develop a A$2.8bil (RM8bil) project at the Tun Razak Exchange (TRX), has dismissed concerns over the project’s future, according to a report.

The Australian Financial Review (AFR) reported a spokesperson as saying: “As with any agreement, we have undertaken due diligence and put in place appropriate protection for Lend Lease,”


The Lifestyle Quarter, spanning over 17 acres, will comprise a shopping centre integrated with TRX’s multi-layer central park, along with three residential towers and a hotel. Construction is scheduled to start in late 2015.



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Old July 28th, 2015, 09:43 AM   #146
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Quote:
Originally Posted by FayedLee View Post
8/7/15


.........
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Old August 31st, 2015, 06:45 PM   #147
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Proposed Design By Bates Smart







http://www.batessmart.com/bates-smar...gnature-tower/
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Old August 31st, 2015, 06:45 PM   #148
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http://www.batessmart.com/bates-smar...gnature-tower/
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Old August 31st, 2015, 06:54 PM   #149
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Liked it so much! simple but yet elegant and timeless. I hope they will go with this design.
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Old September 1st, 2015, 04:04 AM   #150
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The best proposal ever
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Old September 1st, 2015, 11:36 AM   #151
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Nice, hope we can see it starting soon
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Old September 6th, 2015, 07:15 PM   #152
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Quote:
Earlier this year, a source at a prominent estate consultancy told The Malaysian Reserve that retail tenants in the the Lifestyle Quarter may include American upscale fashion retailer Nordstrom, Jamie Oliver, and Japanese retail giant Takashimaya.

Interested parties for the Lifestyle Quarter's hotel arm had also been narrowed down to a few luxury brands, including Chimera, Rosewood Hotels and Resorts, and Hilton-owned Waldorf Astoria.

The Lifestyle Quarter, valued at RM8 billion, will be designed by London firm Grimshaw Architects, an agency that has worked on New York's Fulton Center, the city's newest transit hub.

http://themalaysianreserve.com/new/s...akes-lot-sense
...
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Old September 7th, 2015, 05:57 PM   #153
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This project is now under preparation.

Quote:
The office tower will be the focal point of this financial quarter, says Azmar. The total parcel will have a gross floor area of about 2 million sq ft.

Azmar says because of its size, the Signature Tower will be developed as a mixed integrated development with an imposing office tower of about 70 storeys, hence its name. It is estimated that it will have about 2,100 parking bays, four basements and three podium floors. Because of its sizeable land area, it will also have supporting ancillary facilities including retail and other business facilities.

Azmar says design work on the Signature Tower is currently at an advanced stage. Work on the site started in June.
http://www.thestar.com.my/Business/Business-News/2015/08/08/Lifestyle-quarter-to-front-TRX/?style=biz
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Old September 17th, 2015, 06:34 PM   #154
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The number of floors for the Platinium tower might be increased to 90 floors from the initial 80 floors.

Quote:
Originally Posted by patchay View Post
Amendment to d.o. plan for Signature Tower:

CADANGAN PEMBANGUNAN SATU (1) BLOK PEJABAT 90 TINGKAT DAN TIGA (3) TINGKAT PEJABAT ANNEX YANG MENGANDUNGI:- - SATU (1) TINGKAT RETAIL/KOMERSIAL DI TINGKAT "LG" - LAPAN (8) TINGKAT TEMPAT LETAK KERETA DI TINGKAT BAWAH TANAH P6 HINGGA LG MEZZANINE DI ATAS PLOT 3 (C7.7) "TUN RAZAK EXCHANGE" SEBAHAGIAN LOT 1210, LOT 1207, SEKSYEN 62, LOT 20003 (LOT LAMA PT 116), SEKSYEN 67, DI JALAN TUN RAZAK/JALAN DAVIS, WILAYAH PERSEKUTUAN KUALA LUMPUR


TETUAN KLIFD SDN BHD

http://www.epbt.gov.my/osc/Proj1_Inf...ame=604332&S=S
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Old September 20th, 2015, 04:23 PM   #155
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update

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Originally Posted by Dary_10 View Post
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Old September 20th, 2015, 05:21 PM   #156
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More of the site pictures






http://trx.my/
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Old October 23rd, 2015, 05:01 PM   #157
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Works will be started soon..

Quote:
Originally Posted by nazrey View Post
WCT wins major contract in TRX
20 OCTOBER 2015 @ 11:00 AM
http://www.nst.com.my/news/2015/10/w...r-contract-trx

...

To date, TRX has signed agreements with global property and infrastructure group Lendlease to develop the Lifestyle Quarter; Indonesia’s leading property developer Mulia Group to develop the Signature Tower plot; Affin Bank Bhd for an office tower; Tabung Haji for a residential plot; and, Veolia Water Technologies Southeast Asia for the water treatment and recycling concessionaire.

TRX has also started construction on a commercial office tower for a financial institution anchor tenant.

Read More : http://www.nst.com.my/news/2015/10/w...r-contract-trx
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Old October 23rd, 2015, 05:26 PM   #158
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90 floor has just been approved. Height will be revised to 430m.
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Old October 23rd, 2015, 05:27 PM   #159
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Wow, 430 meters!
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Old October 23rd, 2015, 06:46 PM   #160
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Originally Posted by davidwsk View Post
90 floor has just been approved. Height will be revised to 430m.
Great News! where you got the info btw?
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