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Old September 8th, 2007, 09:04 AM   #501
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New & Ongoing Projects
35 storeys - Lot J

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Old September 8th, 2007, 09:07 AM   #502
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New & Ongoing Projects
26, 44 storeys - The Crest Jalan Sultan Ismail

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Old September 8th, 2007, 09:11 AM   #503
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New & Ongoing Projects
22 storeys - One Menerung

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Old September 8th, 2007, 09:15 AM   #504
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2nd Mosque of Putrajaya
@ The Core island

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Old September 8th, 2007, 09:18 AM   #505
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Old September 8th, 2007, 09:29 AM   #506
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New & Ongoing Projects
33 - storey - ONE Mon't Kiara

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Old September 8th, 2007, 09:34 AM   #507
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New & Ongoing Projects
36 Storeys - Riana Green East

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Old September 8th, 2007, 09:36 AM   #508
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New & Ongoing Projects
40 storeys - ICON Jalan Yap Kwan Seng

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Old September 8th, 2007, 09:47 AM   #509
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New & Ongoing Projects
28 storeys - Hampshire Place

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Old September 8th, 2007, 09:56 AM   #510
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New & Ongoing Projects
Twin 30-storey - GoldIS Tower

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Old September 8th, 2007, 09:59 AM   #511
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New & Ongoing Projects
25 storeys - Fairlane Residences
@ Bukit Bintang

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Construction progress for Fairlane North Wing.



Construction progress for Fairlane South Wing.

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Old September 8th, 2007, 09:59 AM   #512
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Good job Nazrey!
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Old September 8th, 2007, 10:04 AM   #513
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New & Ongoing Projects
50 storeys - YNH Tower
Jalan Sultan Ismail

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YNH courting new suitors for RM1b project
By Chong Jin Hun
September 4 2007



FOLLOWING a failed initial attempt with a foreign partner to develop prime land in Kuala Lumpur, YNH Property Bhd is now courting other suitors to kickstart its commercial job, possibly within three months.

YNH may solicit bids from potential parties to jointly build the estimated RM1 billion YNH Tower on a 1.2ha freehold site near Shangri-La Hotel along Jalan Sultan Ismail in Kuala Lumpur.

Construction of the tower, to comprise office and retail space, is still subject to authorities' consent. Upon completion, the building will be sold en bloc, company officials said.

"We may call for a tender and it involves reputable parties from New York, Singapore and Australia," YNH chief financial officer Y.M. Chan told Busines Times yesterday.

"We plan to increase YNH Tower's selling price from RM1 billion to RM1.2 billion because of strong demand," Chan added.

He did not reveal who the likely suitors of YNH are, only indicating that the joint-venture structure may involve more than two parties.

Winners of the tender process will be selected based on the price the respective parties are willing to pay for the land under the collaboration.

According to Twins Realty principal Wincent Saw, the estimated 131,000 sq ft could be worth, on average, between RM800 and RM1,000 a sq ft, or at least RM104.8 million.

Perak's YNH and Singapore's CapitaLand Ltd in December 2006 signed a memorandum of understanding (MOU) to jointly develop the site on a 60 and 40 per cent equity basis respectively.

Construction of the building, initially valued at some RM800 million, was originally scheduled to start in the middle of 2007, and due for completion by end-2011.

The venture was, however, terminated in June 2007 as certain conditions under the MOU could not be fulfilled, YNH told Bursa Malaysia.

YNH's first half-to-June 2007 net profit rose by a quarter to RM43.3 million, or 12.06 sen a share, while revenue climbed 32 per cent to RM126.2 million.

YNH, listed on Bursa Malaysia in 2003 under its former name Yu Neh Huat Bhd, began as a plantation entity in 1982 before venturing into property development.

The group's real estate business took off in 1987 within Perak's Sitiawan, Manjung and Lumut corridor where the group's flagship "Bandar Manjung Point" township sits.

Its other jobs in Kuala Lumpur include "Lot 163 Suites" mixed high-rise project at Jalan Perak and "Cerian Kiara" or "Radiant Kiara" condominiums within the Mont'Kiara enclave.
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Old September 8th, 2007, 10:08 AM   #514
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New & Ongoing Projects
27 storeys - Menara Worldwide
@ Bukit Bintang

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Worldwide Returning To Commercial Property Development

SHAH ALAM, June 21 (Bernama) -- After a five-year break, Worldwide Holdings Bhd is making a comeback in commercial property development this year with its B3 and ALAMi projects in Shah Alam and Menara Worldwide project in the Golden Triangle area of Kuala Lumpur.

Its group managing director Datuk Ibrahim Md Yusof said Friday the three projects were expected to do well due to their strategic locations and offerings.

The B3 project will comprise 134 units of three- and five-storey offices within the group's Worldwide Business Park which was taking shape on a 25.2-hectare site in Section 13, Shah Alam, Ibrahim said.

ALAMi is a high-end commercial development covering 5.84 hectares with the first phase comprising five blocks of office-cum-retail units located at the gateway to Shah Alam and fronting the Federal Highway, he said after the group's annual general meeting and extraordinary general meeting here.

He added that ALAMi was offering a "place-to-be-seen" themed ambience with a pedestrian-friendly concept, as well as sidewalk cafes and restaurants, outdoor activities and open air performances.

Menara Worldwide, located on an one-acre prime site, will feature a 25-storey tower office block and a four-level podium block for commercial and office use.

Ibrahim said despite the return to commercial development, Worldwide would not be neglecting residential projects and was planning to launch its new township project on a 100.8-hectare site in Kapar, Klang.

Named Kapar Bestari, the project will be developed by its 70 percent-owned subsidiary Cekal Unggul Sdn Bhd.

It will comprise single- and double-storey terrace houses, town houses, low- and medium-cost apartments, and shops and offices.

The group will also continue its project in Subang Bestari with commercial and residential units as well as a new project known as Punchak Bestari on a 49.72-hectare site in Bandar Baru Puncak Alam.

Puncak Bestari, expected to be launched next year, will feature a mix of bungalows, semi-detached and terrace houses, and shop-offices.

Ibrahim said the residential projects would have a gross development value of RM2.3 billion.

He said the group was also looking for another 120 hectares for its landbank in Selangor for future development.

On the group's waste management business, Ibrahim said it was waiting for approvals from the authorities to set up the Shah Alam Domestic Waste Transfer Station to serve as a collection point for waste collected from the various local councils in Selangor.

The group, he said, was also in the process of rehabilitating the sanitary landfill in Ayer Hitam, Puchong, which was closed for operations in December last year.

Worldwide was also currently operating a sanitary landfill in Jeram, Selangor, which received about 1,300 tonnes of garbage each day, he added.

For its financial year ended Dec 31, 2006, the group recorded a higher pre-tax profit of RM67.5 million compared to RM64.4 million in 2005 while revenue dropped to RM89.1 million from RM100.6 million previously.

Ibrahim attributed the lower revenue to some properties having found the buyers but the sale and purchase transactions were not yet completed.

-- BERNAMA
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Old September 8th, 2007, 10:10 AM   #515
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New & Ongoing Projects
20 storeys - The Icon
@ Jalan Tun Razak

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Mah Sing to sell one wing of The Icon to Felda co-op
July 27 2007

DEVELOPER Mah Sing Group Bhd has signed an agreement with Koperasi Permodalan Felda Bhd (KPFB) to sell one of two wings of The Icon Jalan Tun Razak to the latter for RM174.4 million.

The deal was secured via its wholly-owned subsidiary Star Residence Sdn Bhd through an en-bloc deal.

Mah Sing group managing director Datuk Leong Hoy Kum said upon execution of the sales and purchase agreement, KPFB will pay RM17.43 million or 10 per cent of the purchase price, with the balance 90 per cent to be paid progressively according to the stage of works completed.

"This 20-storey wing office development has a total floor area of 243,830 sq ft with 301 carpark bays," he said in a statement yesterday.

He said construction of The Icon Jalan Tun Razak is scheduled to be completed in 24 months.

Moving forward, Leong said, with the strong demand for commercial developments and Grade A offices, the firm will continue to target more prime commercial lands in Kuala Lumpur and the Klang Valley for its Icon series of commercial development.

"We target to conclude more en bloc sales for our Icon series including The Icon Mont Kiara, where the signature tower will house SoHo units and corporate designer suites," he said.

Leong said with a seven-year track record of on-time delivery of properties, the group is confident that the Icon series shall make an impact on the market.

The group is targeting local and international companies which are increasingly active in the Central Business District.
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Old September 8th, 2007, 10:15 AM   #516
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New & Ongoing Projects
34 storeys - Tabung Haji Office Building
@ Jalan Perak

Quote:
Tabung Haji To Build 34-storey Building In Golden Triangle


KUALA LUMPUR, May 28 (Bernama) -- Tabung Haji is to put up a RM151 million 34-storey building in the Golden Triangle here which, when ready in three years, will have Bank Islam as its anchor tenant.

Its subsidiary, TH Technologies Sdn Bhd, will undertake the project on 0.484 ha of wakaf land along Jalan Perak off Jalan P. Ramlee which belongs to the Federal Territory Religious Affairs Council (MAIWP).

Under the build, operate and transfer (BOT) concept, Tabung Haji will manage the building for 25 years with a RM56.6 million lease payment to the Council, Tabung Haji group managing director and chief executive officer Ismee Ismail said Monday.

Prime Minister Datuk Seri Abdullah Ahmad Badawi will launch the Wakaf Land Development Project on June 8 and the building is due for completion in 2010, he told a press conference.

Besides Bank Islam, the building will also house Tabung Haji's various subsidiaries, Ismee said.

Rentals will be at market rate, in the region of RM4.90 per sq ft, he added.

-- BERNAMA
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Old September 8th, 2007, 10:18 AM   #517
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New & Ongoing Projects
24 storeys - New HSBC Tower
@ Leboh Ampang

Quote:


From left: Quill group MD Datuk Jennifer Low, Datuk Zarir J. Cama, Quill
Capita Management director Datuk Michael Ong and HSBC Malaysia senior
vice-president (banking operations) Leong Soon Cheong pose besides an
artist’s impression of the new HSBC building

Annexe to HSBC HQ
By LEONG HUNG YEE

PETALING JAYA: HSBC Bank Malaysia Bhd does not easily forget its roots as proven by its decision to remain at the spot it started 123 years ago.

Rather than relocate to newer and bigger premises to cater to further business expansion, it has chosen to lease a new 24-storey building that will be an annexe to its current headquarters in Leboh Ampang, Kuala Lumpur.

Deputy chairman and chief executive officer Datuk Zarir J. Cama said: “This (Leboh Ampang) was the spot on which HSBC started 123 years ago and we have really prospered during these years.

“Our feng shui here has been very good and I am not going to disrupt it.”

He said it was much more cost effective for the group to refurbish and rent a new building than to move to another place.

Zarir was speaking after signing an agreement with Quill group of companies on the lease for the new HSBC building yesterday.

The Quill group will design and build the 265,000-sq-ft building and then lease it to HSBC. Besides the annexe, the HSBC headquarters will also get a facelift.

Quill group executive director Datuk Michael Ong said HSBC Malaysia would be taking a 15-year lease on the Grade A office building, which is expected to cost RM100mil to develop.

Construction is expected to start in June for completion by the first quarter 2010.

HSBC Malaysia currently leases two buildings from the Quill group – the HSBC Service Centre in Section 13, Petaling Jaya, and HSBC Group Service Centre in Cyberjaya.

On the bank's application for an Islamic banking licence, Zarir said it was still awaiting Bank Negara approval to set up a full-fledged Islamic banking subsidiary.

After opening the four additional branches allowed under the central bank's liberalisation move last year, HSBC Malaysia was now awaiting the central bank's policy on branch licences before planning for more branches in the country.

“We are always keen to open more branches but we will have to wait for the central bank's policy and guidelines before we make any decision,” Zarir said.
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Old September 8th, 2007, 10:23 AM   #518
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New & Ongoing Projects
3 Towers - Idaman Bintang
@ Bukit Bintang

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TA plans RM1.2bil REIT on SGX
The CEO Interview: By LEONG HUNG YEE

TA Enterprise Bhd will list its real estate investment trust (REIT) in Singapore by year-end with an initial fund size of around RM1.2bil.

Executive chairman Datin Alicia Tiah said the group was currently working on the listing of its REIT on Singapore Exchange Ltd (SGX).

“We have been talking with our merchant banks and relevant parties for the listing exercise. Hopefully we will be able list our REIT by year-end. It is just a matter of timing,” Tiah said in an interview.

She said this would be a very good time to go for a listing with the current bull market. She added that REIT would be a good way for the company to unlock its property value.

“We believe Singapore is the best location for our listing exercise as the Singaporean market provides better valuations. The REITs listed on the SGX are doing very well, and the approval period from the regulators is shorter,” she explained.

Tiah said more properties could be injected into its REIT, but TA Enterprise would begin with three properties.

The REIT would include The Radisson Hotel in Sydney, its commercial building in downtown Vancouver in Canada as well as Menara TA One in Kuala Lumpur.

“We will have a good combination of REIT because we will have a hotel as well as commercial buildings. I think investors will like it,” Tiah said.

She said the cash raised through the REIT would go towards the funding of its ongoing development projects as well as upcoming projects.

TA Enterprise expects to unlock more than RM500mil and would use the money generated to buy more properties in China and Vietnam or enlarge its landbank locally.

On its overseas expansion, Tiah said TA Enterprise was currently conducting feasibility studies for ventures into Vietnam and China.

“Vietnam and China will offer good opportunities. We have been discussing with some potential partners in Vietnam, but it is still at the preliminary stage,” she said.

She added that TA Enterprise would like to tap the stock broking and property market in Vietnam.

TA Enterprise is expected to use Hong Kong, in which it already has a presence, a stepping stone to penetrate the huge Chinese market.

“We will venture into the property market in China for the moment before deciding to tap into the Chinese stockbroking industry.

“We will take it one step at a time. We'd rather be safe than lose any money,” Tiah said.

TA Enterprise plans to introduce new services in Malaysia in the second half of 2007 and is currently waiting for licences from the local authorities.

The stockbroking company will introduce services such as corporate advisory work and issue-structured products such as call warrants and exchange-traded funds, as well as go into venture capital lending.

According to Tiah, the company is currently preparing for the launch of Idaman Bintang, a residential and commercial development.

The project, which has a gross development value of RM1bil, sits on a three-acre freehold site at the intersection of Jalan Imbi and Jalan Bukit Bintang.

Idaman Bintang will have three towers. We will be selling two towers and keep one to generate recurring income,” she said.

However, she did not specify other details like the built-up areas and timing of the project.

“The project (Idaman Bintang) has attracted a lot of interest even before the plan is approved,” Tiah said, adding that she believed that TA had a competitive advantage.

She said the company was also planning to build another two towers - TA Three (60 storeys) and TA Four (35 storeys) – on the land adjacent to the existing Menara TA One at Jalan P. Ramlee, Kuala Lumpur.

The towers are just across the road from Kuala Lumpur City Centre.

Tiah said the project would consist of about 300 units of 6-star hotel service apartments, offices and retail spaces.

On the company's financial performance, Tiah said she expected all its business segments to turn in a better performance for the current financial year ending Jan 31, 2008.

“Barring unforeseen circumstances, the company is expected to perform better this year due to the positive sentiment of the stock market as well as the property sector,” she said.

“Although we have not announced our first quarter results, I can assure you that they'll be very commendable results.”

Tiah added that TA Enterprise would also adopt its first ever dividend policy to pay its shareholders consistent yearly dividends of between 40% and 60% of the group's net profit.

For the financial year (FY) ended Jan 31, 2007, TA Enterprise posted a net profit of RM133.7mil on revenue of RM354.5mil, compared with RM80.7mil and RM312.8mil respectively in FY06.

To a question, Tiah said it did think about privatising the company when its share price was trading way below its net tangible assets (NTA) level.

“TA Enterprise was trading at 88 sen early of the year and the thought of privatisation came because the trading price then was not attractive,” she said, adding that its share price was still trading below its NTA level.

Tiah said she might consider a privatisation if the share price go below its “intrinsic value”.

TA Enterprise's share price has gained over 110% from a low of 77.5 sen on Jan 11, closing at RM1.63 last Friday. The counter was the most heavily traded counter that day with 29.3 million shares changing hands.
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Old September 8th, 2007, 10:26 AM   #519
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New & Ongoing Projects
35, 60 storeys - TA3 & TA4
@ Jalan P. Ramlee

Quote:


TA Ent plans RM2b property project near Twin Towers
By Chong Jin Hun


TA ENTERPRISE Bhd's (TAE) fast-growing property business will soon include an estimated RM2 billion mixed development within walking distance of the iconic Petronas Twin Towers.

TAE, which also has a stockbroking business, plans to build a luxury hotel, shopping complex and residential units on the company-owned 0.9ha site along Jalan P Ramlee.

Construction, which is expected to take four years, will start in 2008. It will be TAE's second property project within the KLCC area, after its RM294 milllion "Idaman Residence" condominiums on a 0.6ha tract nearby.

"I cannot sell anything less than RM1,500 a sq ft because of the location," TAE executive chairman Datin Alicia Tiah told Business Times in Kuala Lumpur yesterday.

"We have been approached many times by big names (in the property sector) for joint ventures. I am not saying I am not considering but we have not really made up our minds yet," Tiah added.

Other real estate projects by TAE include the estimated RM450 million "Damansara Idaman" in Selangor and the RM800 million "Seri Suria" in Kuala Lumpur.

TAE, initially renowned as a stockbroking firm, has jumped on the real estate bandwagon to reduce its dependence on financial services operations.

As such, earning recurrent income from its properties will be a key strategy going forward to safeguard TAE's income stream.

"But stockbroking is just as important, if not more important, at this point in time," Tiah said.

In the nine months to October 2006, property investment and development already constituted 47 per cent of TAE's revenue of RM243.8 million.

Real estate income is expected to account for up to 50 per cent of revenue within two years, helped by TAE's upcoming property launches.

Citing examples, Tiah said the third phase of its "Damansara Idaman" is due for launch next week, adding that TAE has some 180ha of undeveloped land to date.

It is no secret that TAE intends to build properties in China and India, but Tiah declined to elaborate on the company's potential foreign ventures.

TAE has established a China-based unit, TA Ace Fit Investment Management (Kunming) Co Ltd, to undertake investment and hotel management activities there, according to TAE's filings to Bursa Malaysia.
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Old September 8th, 2007, 10:33 AM   #520
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New & Ongoing Projects
20 storeys - Malaysia National Insurance (MNI) Office Tower

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