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Old June 3rd, 2009, 12:38 PM   #201
spikeshamz
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Great design but the whole area looks empty. Maybe they should build a bridge from nusajaya to singapore via sarimbun.
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Old June 9th, 2009, 12:25 PM   #202
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The 18 holes Championship Golf Course in Horizon Hills, Nusajaya, Johor, Malaysia, by Gamuda Land. Now is open for games.
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Old June 9th, 2009, 03:05 PM   #203
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Great design but the whole area looks empty. Maybe they should build a bridge from nusajaya to singapore via sarimbun.
hey!thats a very good idea!
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Old June 11th, 2009, 03:58 AM   #204
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UEM Land Negotiating With Two Banks To Finance Property Project In Nusajaya


KUALA LUMPUR, June 10 (Bernama) -- UEM Land Bhd, the property development subsidiary of UEM Group, is in negotiation with two local banks to finance its projects in Nusajaya, Johor, said chairman Tan Sri Ahmad Tajuddin Ali Wednesday.

The two projects are the waterfront Puteri Harbour project and the East Ledang residential project.

Originally, the company was in talk with four banks to secure RM850 million loan but this later came down to two banks, and the size of the loan may go down to RM350 million loan, he said.

"We hope to finalise the syndicated loan in the next couple of months," he told reporters after the company's annual general meeting here today.

Its gearing currently is extremely low at 0.35 time, Ahmad Tajuddin said.

UEM Land chief executive officer/managing director Wan Abdullah Wan Ibrahim said the actual work in terms of planning, designing and approval for its projects were still proceeding despite the tight situation with respect to the market sentiment.

"We want to be ready, when the market turns around," he said.

UEM Land's pre-tax profit fell to RM4.583 million in the first quarter ended March 31, 2009, compared with RM66.011 million the previous corresponding period while revenue decreased to RM56.511 million from RM191.13 million.

Meanwhile, Ahmad Tajuddin said UEM Land was in the process of evaluating certain strategic projects in Klang Valley and Penang at the moment.

He said the company would announce the projects when it has signed the sales and purchase agreement.

On the legal suit against UEM by the State of Qatar with regards to the specifications in the building of Salwa Road in Doha, Ahmad Tajuddin said: "We are just the contractor. It is the consultant that has been sued but we are named as second defendant.

"We will manage the case. We have strong case to defend ourselves," he said.



-- BERNAMA
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Old June 11th, 2009, 03:59 AM   #205
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UEM Land in talks to get RM350mil


Money will be used to finance projects in Nusajaya

KUALA LUMPUR: UEM Land Holdings Bhd is in talks with two local banks for RM350mil in funds to finance its projects in Nusajaya.

Chairman Tan Sri Dr Ahmad Tajuddin Ali said the amount was scaled down from RM850mil it had sought earlier as banks were tightening their credit facilities in view of the current economic slowdown.

“The funds are for the second phase development of Puteri Harbour and also for East Ledang development,” he said after the group’s AGM yesterday.

Tajuddin said the group was projecting a 20% growth in revenue this year over the RM511.6mil revenue it chalked up last year, focusing on projects in Nusajaya in Iskandar Malaysia and also in Cyberjaya.


Tan Sri Dr Ahmad Tajuddin Ali (left) and Wan Abdullah Wan Ibrahim looking at the UEM Land Holdings Bhd 2008 annual report on Wednesday.

He said the group was also targeting for 6% return on equity this year, almost the same as last year, given the challenges it had to face as a result of the economic downturn.

“We admit that the group is facing difficulties now as the market is not doing well. However, we will try to achieve the target by implementing strategic and different marketing approaches,” he said, adding that the group might defer launching some of its projects to a later date depending on the market situation.

Tajuddin said currently, the group still had about 9,000 acres in Nusajaya for development and would proceed with the plans, design and approval process for future projects as it wanted to be ready once the market improved.

“Apart from Nusajaya and Cyberjaya, we are evaluating certain land in the Klang Valley for acquisition and will announce it once the sale and purchase process is done,” he said.

Managing director and chief executive officer Wan Abdullah Wan Ibrahim added that the group was still looking for other new bankable projects and might seek more funds.

“Our current gearing is also low at 0.35 times for our property section. If we find other new bankable projects, we will apply for more loans, even going back to the same banks,” he said.

He also said although the market was challenging, the group still managed to get buyers, especially international buyers, for its property projects in Nusajaya.
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Old June 11th, 2009, 06:28 AM   #206
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calm down dude! you're just banned 5-6 times!
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Old June 11th, 2009, 10:56 AM   #207
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you are one of the elephant wakakakaka heheheheh...sshhhhhhhhh go away pleaseeeeeeee..
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Old June 11th, 2009, 10:58 AM   #208
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I saw the world most rare animal - WHITE ELEPHANTs... every where in Nusajaya.
you are one of the elephant wakakakaka heheheheh...sshhhhhhhhh go away pleaseeeeeeee
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Old June 11th, 2009, 05:41 PM   #209
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white elephant bukan dah pupus ke??haha
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Old June 12th, 2009, 07:45 AM   #210
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calm down dude! you're just banned 5-6 times!
That is the spirit of Cooltemper.
Who care they banned me or not, even they deleted my post also i still feel like giving my comment when i feel i want.
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Old June 12th, 2009, 08:49 AM   #211
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Originally Posted by cooltemper6 View Post
That is the spirit of Cooltemper.
Who care they banned me or not, even they deleted my post also i still feel like giving my comment when i feel i want.
pathetic u...
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Old June 12th, 2009, 09:51 AM   #212
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That is the spirit of Cooltemper.
Who care they banned me or not, even they deleted my post also i still feel like giving my comment when i feel i want.
spirit konon...hahaha
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Old June 12th, 2009, 09:55 AM   #213
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jangan layan...
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Old June 12th, 2009, 10:19 AM   #214
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nah, he just jealous coz theres no white elephant to be spotted in his home state.

just vote for BN in the next GE, and you can spot any kind of elephant near you.
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Old June 13th, 2009, 10:50 PM   #215
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Originally Posted by cooltemper6 View Post
That is the spirit of Cooltemper.
Who care they banned me or not, even they deleted my post also i still feel like giving my comment when i feel i want.
Hahaha.......keep up the spirit En. Gajah Putih!

For me to delete ALL your posts (no matter how many you post) just takes like what.....4 clicks? It is quite automated actually.

Well happy posting then if you have all the time
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Old June 14th, 2009, 04:02 AM   #216
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Old June 14th, 2009, 05:24 AM   #217
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just takes like what.....4 clicks?
( )
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Old June 15th, 2009, 05:06 AM   #218
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UEM Land in talks with 3 foreign parties for tie-up
By SHANNEN WONG



KUALA LUMPUR: UEM Land Bhd, the master developer of Nusajaya, is in talks with three foreign parties on possible strategic partnerships for its Puteri Harbour project.

Managing director and chief executive officer Wan Abdullah Wan Ibrahim said the company hoped to conclude the deals this year.

“We hope to seek greater foreign participation besides our existing two Middle Eastern partners,” he said in an interview.

Spanning over 688 acres, the Puteri Harbour waterfront development consists of high-end residential, commercial and retail properties, resorts, hotels and a convention centre.


Wan Abdullah said the group would proceed with all its development plans regardless of the weakening economy.

“We have no choice but to continue with our projects because our company is still growing as a property developer.”

Unlike more established property developers, UEM Land could not afford to defer its projects as this would have a severe impact on its medium-term growth, he said.

“However, we believe the biggest challenge for us this year is to manage our cash flow well in order to meet our business targets,” he added.

On its new project line-up this year, Wan Abdullah said preparation was currently under way for the launch of Phase 2 of its East Ledang project with an estimated gross development value (GDV) of RM195mil.

East Ledang would be developed in seven phases with a total GDV of RM2.4bil. It is a gated high-end, low-density, resort-style residential development that covers 275 acres comprising 861 units.

Phase 1, launched in February last year comprising 139 units, has a take-up rate of 80%.

Wan Abdullah said the group was also expected to launch next to East Ledang soon the Ujana, comprising a 23-storey residential tower with 172 executive apartments and four penthouses.
The company had identified a gap in the market and planned to launch residences comprising medium-cost housing with a GDV of RM630mil by the fourth quarter, he said.

“We will move into more medium-cost housing projects as this is what the market needs right now. More affordable housing, priced from RM140,000, will be built in the next few years at our schemes,” he added.

The medium-cost precinct will cover 261 acres along the Pontian Link that has not kicked off yet.
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Old June 18th, 2009, 04:33 AM   #219
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Deal with Dubai developer collapses
Published: 2009/06/18



Property developer UEM Land Bhd's (5148) plan to sell 17.4ha of land to one of Dubai's largest private developers for RM396.5 million has fallen through.

The deal, which was first struck in June 2008, was for Damac Properties (Malaysia) Sdn Bhd to develop three parcels of commercial land that forms part of Puteri Harbour at Nusajaya in Johor.


Under a sale and purchase agreement (SPA) signed in June 2008, both sides were to have agreed to the conditions of the agreement by June 2009.

"The termination will have no impact on our financial results as the expected revenue from this proposed transaction has not been recognised in our accounts," UEM Land managing director and chief executive officer Wan Abdullah Wan Ibrahim said in a state-ment yesterday.

UEM Land and Damac had been in discussions on certain issues relating to the conditions of the deal. However, they were not able to come to an agreement on these issues and have now agreed for the SPA to be terminated.
Damac on June 16 told UEM Land it did not agree to further extensions of the extended approval period, causing the SPA to lapse.

"Given the current global economic conditions and the impact on many companies and countries including those in the Middle East, we felt that there is no point in pursuing the matter and that a termination of the SPA was in UEM Land's best interest," Wan Abdullah said.

"Our aim is to accelerate the momentum of development and investment in Puteri Harbour. The foundation has already been laid and we have received strong interests from potential investors to partner us in developing the area. We are confident of concluding some of these deals in the near future," he added.

News reports as recent as April had already raised questions regarding the deal, given Damac's troubles following the property bubble bursting in Dubai beginning end of last year.

In December 2008, Damac cut 200 jobs or 2.5 per cent of its workforce.

The company has also called off its Palm Springs project, a 25-storey residential and resort development, planned for the Jebel Ali Palm in Dubai.

UEM Land has another Dubai-based partner in Limitless LLC as a major investor in Nusajaya. Its joint venture is through Haute Properties Sdn Bhd, which will develop a 44.4ha residential project in Puteri Harbour with an initial investment of RM241.8 million.

It is understood that a layout for this project has already been submitted, and will continue as planned, with completion scheduled for 2013 with an estimated gross development value of more than RM1.5 billion.
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Old June 18th, 2009, 04:55 AM   #220
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Originally Posted by rizalhakim View Post
Deal with Dubai developer collapses
Published: 2009/06/18



Property developer UEM Land Bhd's (5148) plan to sell 17.4ha of land to one of Dubai's largest private developers for RM396.5 million has fallen through.

The deal, which was first struck in June 2008, was for Damac Properties (Malaysia) Sdn Bhd to develop three parcels of commercial land that forms part of Puteri Harbour at Nusajaya in Johor.


Under a sale and purchase agreement (SPA) signed in June 2008, both sides were to have agreed to the conditions of the agreement by June 2009.

"The termination will have no impact on our financial results as the expected revenue from this proposed transaction has not been recognised in our accounts," UEM Land managing director and chief executive officer Wan Abdullah Wan Ibrahim said in a state-ment yesterday.

UEM Land and Damac had been in discussions on certain issues relating to the conditions of the deal. However, they were not able to come to an agreement on these issues and have now agreed for the SPA to be terminated.
Damac on June 16 told UEM Land it did not agree to further extensions of the extended approval period, causing the SPA to lapse.

"Given the current global economic conditions and the impact on many companies and countries including those in the Middle East, we felt that there is no point in pursuing the matter and that a termination of the SPA was in UEM Land's best interest," Wan Abdullah said.

"Our aim is to accelerate the momentum of development and investment in Puteri Harbour. The foundation has already been laid and we have received strong interests from potential investors to partner us in developing the area. We are confident of concluding some of these deals in the near future," he added.

News reports as recent as April had already raised questions regarding the deal, given Damac's troubles following the property bubble bursting in Dubai beginning end of last year.

In December 2008, Damac cut 200 jobs or 2.5 per cent of its workforce.

The company has also called off its Palm Springs project, a 25-storey residential and resort development, planned for the Jebel Ali Palm in Dubai.

UEM Land has another Dubai-based partner in Limitless LLC as a major investor in Nusajaya. Its joint venture is through Haute Properties Sdn Bhd, which will develop a 44.4ha residential project in Puteri Harbour with an initial investment of RM241.8 million.

It is understood that a layout for this project has already been submitted, and will continue as planned, with completion scheduled for 2013 with an estimated gross development value of more than RM1.5 billion.


UEM Land, Damac sale agreement lapses


PETALING JAYA: UEM Land Bhd’s agreement with Damac Properties (M) Sdn Bhd for the RM396mil sale of 43.5 acres in Puteri Harbour, Nusajaya has lapsed.

UEM Land told Bursa Malaysia yesterday Damac had failed to resolve issues relating to the conditions of the purchase agreement within the agreed period.

Managing director and chief executive officer Wan Abdullah Wan Ibrahim said the termination would have no impact on the company’s financial results as the expected revenue from this proposed transaction had not been recognised in its accounts.

“The exit of Damac would not impact the development of Nusajaya as we are currently in talks with new developers to take over its place,” it said.

According to sources, developers from Australia and Singapore have expressed interest to purchase parcels of land in Puteri Harbour, the waterfront development in Nusajaya.
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