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Countdown to 2020 new projects, proposals, under-construction updates and news of developments & construction projects.



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Old February 13th, 2007, 02:14 AM   #101
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Khazanah-led SPV, UEM in talks on Johor land deal
By Francis Fernandez
February 13 2007
BusinessTimes




Others involved in the move to acquire 2,000ha include firms linked to
Robert Kuok, Ekovest and a UAE-owned investment fund, say bankers



A FOUR-member special purpose vehicle (SPV) concern led by Khazanah Nasional Bhd is in an advanced stage of negotiations with UEM World Bhd to acquire some 2,000ha in Johor.

It is understood that the SPV will sign an agreement soon, and that the acquisition will land UEM World an exceptional item gain of about RM500 million.

UEM Land Bhd, a unit of UEM World, is developing a 9,669ha city at its Bandar Nusajaya project in Johor where it plans to build homes, waterfront property, offices, hotels, factories, hospitals and campuses for overseas universities, making it Malaysia's biggest real estate development.

The township includes a new state administrative centre and theme parks, which were previously linked to Japan's Oriental Land - the Japanese partner for Tokyo Disneyland.

Khazanah officials said they will not comment on market speculation.

Khazanah has previously acquired land from UEM World specifically to build a destination resort, which includes a theme park.

"The evaluation process for the destination resort is now being undertaken by Khazanah Nasional," UEM World said in a statement to the stock exchange.

The state-controlled property developer further said that it is in talks with several bankers to raise financing for its projects in Nusajaya.

Senior government officials confirmed UEM World is planning a major relaunch of the Nusajaya project on February 23, but said they were unaware of further acquisitions by the state-owned fund.

UEM World will reveal plans for the Nusajaya project at the relaunch, several people who have been invited to attend the function said on condition of anonymity.

Meanwhile, bankers familiar with the deal said that apart from Khazanah, the other members of the SPV include companies linked to billionaire Robert Kuok Hock Nien, Ekovest Bhd and a United Arab Emirates-owned investment fund.

The 84-year-old Kuok, often billed at the Sugar King of Malaysia, controls a slew of public-listed companies across Malaysia, Singapore and Hong Kong.

Kuok, estimated to have a wealth of RM21.5 billion in 2006, has plantation-related interests in Indonesia and China.

He also controls PBB Group Bhd, Hong Kong's Kerry Properties Ltd and the Shangri-la hotel chain in Asia.

It was reported late last week that Khazanah via a SPV is looking to buy a third of Danga Bay Sdn Bhd, which is controlled by Datuk Lim Kang Hoo, Ekovest's dominant stakeholder.

Ekovest itself has an option to buy as much as 30 per cent of the enlarged paid-up of Danga Bay, the company said in a statement to Bursa Malaysia last year.

The call and put option allows Ekovest to buy into Danga Bay at the net tangible asset (NTA) level. Danga Bay's total NTA is around the RM3.80 per share level.

Under the call and put agreement, Ekovest has untill March to decide if it wants to enforce its option.

The RM4 billion Danga Bay project involves a 15-year development of 559ha of waterfront land in Johor, located between central Johor Baru and new developments such as Bandar Nusajaya and the second crossing to Singapore in the western part of the city.
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Old February 14th, 2007, 11:06 AM   #102
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SP Setia selling Johor land for RM107m

Email us your feedback at fd@bizedge.com


SP Setia Bhd is disposing of a piece of 15.3ha commercial land in the Bukit Indah Johor township in Pulai, Johor Bahru, to Raion Capital Bhd (RCB) for RM106.97 million.

RCB is a special purpose vehicle to acquire the land and build AEON's Shopping Centre Complex and then lease to AEON Co (M) Bhd for 15 years.

SP Setia said on Feb 14 that the disposal was part of its strategy to realise the value of its commercial landbank within the Bukit Indah Johor township.

It said the disposal would generate more cash flow to part finance the development of the remaining land in the township and to meet SP Setia Group's working capital.

The proposed disposal would also contribute positively to the group’s future earnings and cash flow.

SP Setia gained 25 sen to RM6.85 before trading was suspended at mid-morning on Feb 14.
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Old February 15th, 2007, 03:49 AM   #103
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RCB, Aeon bina pusat beli-belah di Johor

Oleh Suffian A Bakar


RAION Capital Bhd (RCB), syarikat tujuan khas (SPV) yang ditubuhkan SP Setia Bhd, semalam memeterai perjanjian dengan Aeon Co (M) Bhd (Aeon), bagi membina Pusat Beli-Belah Aeon di tapak seluas 15.1 hektar di Bandar Nusajaya, dekat Johor Bahru, Johor.


Menerusi perjanjian itu, RCB juga akan memajakkan tapak dan pusat beli-belah terbabit sebaik saja selesai pembinaannya kepada Aeon untuk tempoh 15 tahun.

Pada majlis memeterai perjanjian di Kuala Lumpur, semalam, Ketua Eksekutif SP Setia, Tan Sri Liew Kee Sin mewakili RCB, manakala Aeon oleh Pengarah Urusannya, Nagahisa Oyama.

Ia disaksikan Ketua Pegawai Operasi SP Setia, Datuk Voon Tin Yow dan Pengarah Eksekutif Aeon, Masato Yokoyama.

Hadir sama, Ketua Pegawai Komersial Aseambankers Malaysia Bhd, Tracy Ong. AseamBankers adalah penasihat kepada janji niaga terbabit.

Aeon adalah peneraju peruncitan dan pengendali Pusat Beli-Belah Aeon dan pasar raya Jusco yang berpangkalan di Jepun.

Terdahulu, SP Setia menerusi anak syarikat milik penuhnya, Bukit Indah (Johor) Sdn Bhd (Bukit Indah), memeterai perjanjian jual beli dengan RCB bagi cadangan penjualan tanah pada pertimbangan tunai RM106.970 juta.

Liew berkata, menerusi perjanjian itu, Bukit Indah akan melupuskan tanah seluas 15.1 hektar di Bandar Nusajaya kepada RCB, iaitu SPV yang ditubuhkan bagi tujuan pengambilalihan itu.

Katanya, penubuhan RCB juga bertujuan membangunkan sebuah pusat beli-belah di atas tapak berkenaan, yang kemudian disewakan kepada Aeon untuk tempoh 15 tahun.

“Ia sebahagian strategi syarikat untuk meningkatkan nilai komersial hartanah di kawasan sekitar yang akan kami majukan tidak lama lagi,” katanya sambil menambah pusat beli-belah Aeon itu dijadualkan siap akhir 2009.

Beliau berkata demikian pada majlis memeterai perjanjian pajakan antara RCB dan Aeon, semalam.

Liew berkata, kawasan seluas 15.1 hektar itu sebahagian daripada tanah komersial milik Bukit Indah, di Bandar Bukit Indah dalam Wilayah Pembangunan Iskandar.

Dalam perkembangan lain, beliau berkata, Kumpulan SP Setia sedang menjalankan kajian daya maju projek di Vietnam, India dan Pakistan, sebelum memutuskan untuk memasuki pasaran hartanah negara terbabit.

Bandar Nusajaya terletak kira-kira 16 kilometer ke barat laut Johor Bahru. Antara kawasan perumahan berhampiran ialah Taman Perling, Taman Permata dan Taman Sutera, manakala jaraknya dengan pekan Tampoi hanya lapan kilometer.

Projek hartanah SP Setia lain termasuk Setia Alam seluas 1,010 hektar dan Setia Eco Park seluas 316 hektar di Shah Alam, Selangor; Pusat Bandar Puchong; Bukit Indah Ampang; dan dua projek mewah Duta Nusantara dan Duta Tropika di Sri Hartamas.
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Old February 15th, 2007, 09:20 PM   #104
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Tmn bkt indah...This is where I live...hihi
15.3 ha is bigger than jusco tebrau city 12.2 ha.
nice...
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Old May 13th, 2007, 04:20 PM   #105
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Malaysia's Abdullah says he wants 'many bridges' to Singapore
Updated : 11-05-2007
Media : Kyodo News


(Kyodo) _ Malaysian Prime Minister Abdullah Ahmad Badawi said Friday he expects "many bridges" to eventually link Malaysia and Singapore to ease congestion.

But he stopped short of saying he is ready to revive a controversial project to replace the current causeway.

Speaking on the sidelines of a ceremony to mark the 61st anniversary of the founding of the United Malays National Organization, Abdullah said, "One day I believe, between Malaysia and Singapore, there will be many bridges. It will happen."

Malaysia and Singapore are now connected by two bridges -- the first and oldest is the 84-year-old, 1-kilometer causeway spanning southern Johore Strait.

It is estimated 60,000 vehicles ply the causeway, where traffic jams are the norm, daily.

The second, opened in 1998, is widely known simply as "the second link."

Malaysia, under then Prime Minister Mahathir Mohamad, proposed replacing the chronically congested causeway with a new, 1.13 billion ringgit ($332.3 million), bridge, but Singapore did not agree.

Still, just before he stepped down in 2003, Mahathir unveiled plans for a controversial "crooked" half-bridge that curved at an angle to join up with the causeway at the midpoint.

But Abdullah cancelled that project in April last year, annoying Mahathir and leading to many public rows between the two, but doing little to assuage strained ties with Singapore, which was part of Malaysia until it became independent in 1965.

Since Singapore's independence, the two sides have often quarreled over issues such as the supply of water from Malaysia to Singapore, Malaysian-owned railway land in Singapore, pension funds contributed to by Malaysians working in Singapore and a ban on Singapore military flights in Malaysian airspace.

When Abdullah, who is known for diplomacy, took over from feisty Mahathir in October 2003, many expected warmer ties between the neighbors.

But talks to resolve outstanding issues ended in deadlock and were suspended last year.

Still, both sides hope to repair ties and Abdullah and Singapore Prime Minister Lee Hsien Loong will meet on Malaysia's northern island resort Langkawi next week.

Lee, who will be accompanied by several ministers, will arrive for a two-day visit from Monday.
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Old May 13th, 2007, 04:23 PM   #106
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Bridges Linking Malaysia, S'pore Possible, Says Abdullah
Updated : 11-05-2007
Media : Bernama


KUALA LUMPUR, May 11 (Bernama) -- Datuk Seri Abdullah Ahmad Badawi today hinted at the possibility of a new bridge linking Malaysia and Singapore in the future.

The prime minister went a step further, saying he believed that several bridges could be built to connect the two neighbouring countries.

"I believe that one day there may be several bridges linking Singapore and Malaysia, just like in places like New York, Manhattan and Korea, although these places are not in different countries," he told reporters after addressing a gathering of Umno members in conjunction with the party's 61st anniversary celebration at the Putra World Trade Centre here.

"Rivers and straits are not a hindrance to having bridges to ensure smooth traffic. It's something that's going to happen," he added.

Abdullah, who is Umno president, was queried whether he viewed the option of building a bridge to replace the Johor Causeway was still on the table or otherwise.
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Old June 18th, 2007, 05:59 AM   #107
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406 projects under 9MP carried out, says MB
Updated : 16-06-2007
Media : The Star

JOHOR BARU: A total of 406 projects worth RM1.8bil under the Ninth Malaysia Plan (9MP) has been carried out this year, Mentri Besar Datuk Abdul Ghani Othman said.

We have 1,650 other projects which are in various stages of planning, tender awarding, design and work specifications, he told the state assembly yesterday.

He said 274 projects under the 9MP have been completed while 244 have yet to start.

Abdul Ghani said the state had identified factors that could hamper the projects, including material shortages and a price war.

To minimise problems, he said copper and steel have been classified as controlled items and the Government would monitor prices to avoid any shortages.

Housing and Local Government Committee chairman Datuk Halimah Sadique said owners of abandoned buildings around the city owed the city council RM15.24mil in overdue assessment.

She told the state assembly that among the 52 abandoned projects were Pacific Mall, Lot 1 and Kemayan City.

In general, Halimah said the council was owed RM49mil in overdue taxes.

We have collected RM70mil and action will be taken against those who failed to settle taxes.
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Old February 17th, 2008, 01:09 PM   #108
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everything about johor is kinda weird to me....well populated..good projects in line...but hardly any news bout their progress...forum bout jb is so outdated and dull...looks like jb and johor people are not actively involved and interested in development news and stuff.....but then a number of people says jb is good and developing...don't really understand....jb sounds dead to me.....or more like it's stagnant...or something like that hahahaha....there is probably too much of media hype about their future plans that the current issues regarding their progress is not prominent...i mean even if a good project fails we might not even be noticed cos they always talk about the titles like idr, ecocity, middle east investors blah blah....but hardly any news on how close are these to reality....weirdo....
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