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Old July 29th, 2008, 04:29 AM   #21
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Al Rajhi buying office suites in i-City for RM95m
Published: 2008/07/29

AL RAJHI Bank (Malaysia) is purchasing 36 units of i-City Cybercentre 1 Office Suites for RM95 million, marking its first property venture in the country.

The purchase accounted for 80 per cent of the units completed in the first phase of i-City, a RM2 billion integrated and sophisticated township on 72-acres of land in Section 7, Shah Alam, Selangor.

“The investment of Al Rajhi in i-City demonstrates its real value and an increasing interest among Middle Eastern companies in our property market,” I-Berhad director Eu Hong Chew said.

I-Berhad is the developer of i-City.

Speaking to reporters after the signing of a sales and purchase agreement between the company and Al Rajhi yesterday, he said the bank had already paid ten per cent of the purchase price.

The entire exercise involving the purchase is to be completed over the next two to three months.

The first phase of i-City comprises 44 units of cybercentre office suites totalling 300,000 square feet. I-Berhad will retain 20 per cent of the units for local information, communication and technology companies.

Eu said i-City, which is expected to take five years to complete, is the only commercial property in Malaysia with a “last-mile fibre optics to the units” network. It will have a capacity up to 10Gbps.

The network thus supports a wide range of Internet Protocol-based services and applications, making i-City an efficient place to work, play and live in.

Meanwhile, Al Rajhi chief executive officer Ahmed Rehman said the investment represented the bank’s first foray into real estate investments in the country. It was a strategic decision for the bank.

Al Rajhi Bank, headquartered in Saudi Arabia, is the largest Islamic banking group in the world with a network of more than 600 branches. — Bernama
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Old July 30th, 2008, 03:53 AM   #22
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I-Berhad aims to sell i-City office towers by year-end
By Sharen Kaur Published: 2008/07/30
BusinessTimes

PROPERTY developer I-Berhad is confident of selling off two office towers at its RM2 billion i-City intelligent township in Shah Alam by the end of this year, following its first en bloc sale on Wednesday.

Al Rajhi Bank (Malaysia) Bhd is buying 36 units of the i-City Cybercentre 1 office suites, one of the many components of i-City, for RM95 million.

"This is the first en bloc sale for i-City. We are in discussions with interested parties from Asia-Pacific and the Middle East and with serious buyers from South Korea and Australia.

"We are optimistic of closing one or two new deals by December," I-Berhad deputy chief officer Lim Boon Siong told Business Times after the signing of a mutual cooperation agreement with Kompakar Group in Kuala Lumpur yesterday.

The signing was witnessed by Minister of Housing and Local Government Datuk Seri Ong Ka Chuan.

Lim said Al Rajhi has indicated that it would invest in other properties within i-City, but did not elaborate.

The 30.28ha i-City, which started in mid-2007, will feature 12 office towers, a 1 million-sq ft shopping mall, office suites, three data centres, a five-star and a boutique hotel, and two blocks of 24-storey residences.

The integrated development, which is envisaged to be Selangor's knowledge hub and in the league of the Dubai Internet City in the United Arab Emirates, will offer 7.5 million sq ft of built-up when completed in 2012.

For the hotels, Lim said the company was still talking to international hotel chains with strong roots in Malaysia to operate the properties.

They include Starwood, Hilton, Marriott and Accor.

"We are at the design and discussion stage now. We hope to finalise the details by year end and launch the hotels in the first half of 2009," Lim said, adding that it was also in talks with an international hospital group that wants to operate at i-City.

Lim also said the data centres are one of the key selling points for i-City.

"Ours is the first township in this region to have world-class Tier 4 ready data centres connected to the whole 30.28ha real estate via giga-speed fibre-optics network. This is one piece of the puzzle that will enhance i-City's value," Lim said.

Earlier, Kompakar chief executive officer Dr Ahmad Fikri Hussein told reporters that the company and I-Berhad will invest RM100 million to build and equip the data centres, which consists of a 3,500 sq ft hosting facility for the local small and medium enterprises, and two 70,000-sq ft Tier 4 ready data centres.

The hosting facility and the first data centre are already operating, while the second data centre will be ready by 2011.
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Old July 30th, 2008, 07:39 AM   #23
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i-City to offer world class data centres
Wednesday July 30, 2008, TheStar

KUALA LUMPUR: I-Bhd's i-City project in Shah Alam will be the first commercial development in Malaysia to boast of three world class data centres following a strategic alliance forged with Kompakar Inc Bhd, an integrated solutions provider, yesterday.

At the agreement signing, Kompakar chief executive officer Dr Ahmad Fikri Hussein said Kompakar had decided to become one of the anchor tenants in Selangor’s first digital city.

“We are investing and will be providing world class data centre service expertise in the design, set up, management and operation of the data centre equipment and facilities.”

I-Bhd deputy chief executive officer Lim Boon Siong said I-Bhd planned to invest close to RM50mil in the data centres based on the company's business plan and projected demand.

The data centres comprise a 3,500 sq ft hosting facility catering to local small and medium enterprises and two 70,000 sq ft world-class Tier 4 purpose-built ready data centre catering to global information and communications technology companies.

Al Raji Bank (Malaysia) agreed Monday to purchase 36 units of i-City Cybercentre 1 office suites for RM95mil.

The purchase accounted for 80% of the units completed in the first phase of i-City, a RM2bil township on 72 acres in Section 7, Shah Alam.

On the balance units that I-Bhd said it would hold for local information and communications technology companies, director Eu Hong Chew said long-term investment had always been part of the company's commitment to nurture the information technology industry.

In terms of investor response, Lim said besides the Middle East, i-City had received tremendous response from Australia and South Korea, although talks were still at the preliminary stage.
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Old August 1st, 2008, 09:25 AM   #24
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i-City in Malaysia sold before it is built
Asia Property Report - July 31 - by News Desk

I-Bhd’s i-City project in Shah Alam, will be the first commercial development in Malaysia to boast of three world class data centres following strategic partnerships with Intel, Telekom Malaysia and Universiti Industry Selangor, won an MSC status for the freehold commercial township and positioned itself as an ICT-based developer.

The data centres comprise a 3,500 sq ft hosting facility catering to small and medium enterprises and two 70,000 sq ft world-class Tier 4 purpose-built ready data centres catering to global information and communications technology companies. Al Raji bank (Malaysia) agreed on Monday to purchase 36 units of i-City Cybercentre 1 office suites for RM95mil. The purchase accounted for 80% of the units completed in the first phase of i-City.

Like Nexus Norwest, Australia’s most intelligent strata office building, i-City is about doing business in a faster, cheaper and simpler way. The difference between the two is that Nexus Norwest is a third the size of i-City’s Phase 1.

Ricky Lim, I-Bhd chief innovation officer, said with i-City’s MSC status, tenants could enjoy many benefits including super broadband with Gigabit connectivity, no import duties for multimedia equipment, 15 minutes emergency response, no restriction on recruitment of foreign workers and 10-years’ tax exemption. I-Bhd is also providing 100% power backup supply in 15 seconds. All buildings in i-City will be connected.

Lim Boon Siong, I-Bhd deputy chief executive officer, adds: “I-City is on track. We are creating a special niche by investing in technology that can add value to our property and benefit our tenants and purchasers.”
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Old August 24th, 2008, 09:48 PM   #25
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AmBank to expand wireless services at i-City branch
Published: 2008/08/25 BusinessTimes

AMBANK (M) Bhd, which has 183 branches throughout the country, is planning to offer more convenience and cost-efficient banking services like wireless phone banking and wireless ATMs at its new branch in i-City, Shah Alam.

AmBank managing director for retail banking Mohamed Azmi Mahmood said the high technology branch will offer a full suite of both traditional and innovative financial products and services to fulfil the needs of i-City community.

"The cost of setting up this branch would be much higher than the conventional ones," Mohamed Azmi told reporters after signing a memorandum of understanding with I-Berhad on the smart partnership in Kuala Lumpur recently.

Also present was I-Berhad chief executive Datin Tey Siew Thuan and her deputy Lim Boon Siong.

This smart partnership will look into providing a new kind of banking experience for customers.

"i-City's infrastructure will help us test wireless phone banking, wireless ATMs before we roll these services out to other branches," he added.

i-City, a RM2 billion information communication technology (ICT) based premier commercial development in Shah Alam, Selangor will comprise cybercentre office suites, shopping malls, data centre, hotels, office towers and serviced residences.

In the next 12 months, AmBank plans to open another 10 new branches in the Klang Valley, Johor Baru, Penang, Kuching and Sabah.
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Old October 20th, 2008, 02:38 PM   #26
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Strong upside for I-City's first phase
- Property Times issue -
By P. Rajan

The shop-office units in the up-and-coming I-City development in Shah Alam, Selangor, may be able to give investors impressive yields of 10 per cent per annum or more once they are completed by the end of next year.

Expected to be launched for sale within the next few months, the units will be in two clusters, each flanking a unique 1,000ft pedestrian walkway known as CityWalk, which will be the heart and soul of the first phase of I-Bhd’s RM1.5 billion commercial venture.

“The freehold nature of the property, its location off the Federal Highway that will ensure easy access to major parts of the Klang Valley, the dearth of quality shop-offices in the area and the vibrant nature of the project itself should ensure brisk demand for the units once they are put on the market,” said property consultant Allan Soo of Regroup Associates.

While the selling price is not fixed yet, sources say it could be in the RM1.2 million to RM1.5 million range, which would translate into a yearly yield in the region of 10 per cent, even if based on a conservative monthly rental assumption of RM2psf.

According to a recent study on commercial space in Shah Alam undertaken by a property consultancy, rents in purpose-built offices such as Menara MRCB, Plaza Perangsang and Wisma MBSA are presently at the RM2.50psf level, with high occupancies attained.

“There is very strong interest in stratified office buildings and those that were launched recently, particularly in PJ, have sold well,” said executive director of I-Bhd, Monica Ong.

“Shopping centres are being well received too, with rents and occupancies growing more than 10 per cent.”

She explained that I-City will feature 200 shop-office units occupying 17.21 acres of the project’s 72-acre site, of which 80 units will be retained for lease by the company.

The remaining 120 units to be sold comprises 71 and 49 units on the western and eastern flanks of CityWalk respectively, and will be of four and six storeys with dimensions of 22ft by 75ft.

In total, the 200 units will accommodate close to one million square feet of nett built-up space.

More than just a commercial shop-office precinct, Ong said there will be a number of factors investors can bank on to make the place vibrant.

Among them is the company’s decision to retain the 80 shop-units for lease so it can be turned into a dynamic pedestrian mall modelled after Universal CityWalk in California.

With the target of attracting some 12 million visitors per year, the Shah Alam version of CityWalk will feature a RM40 million programmable sound-and-light system to change the ambience along the walkway to reflect different themes, thus making it a bright and exciting destination for both locals and tourists alike.

“CityWalk will be the only one of its kind in the region,” said Ong, adding that other features to support the business activities include the availability of basement car-parking with over 2,400 bays so “visitors won’t be faced with the perennial problem of finding parking”.

Also, in contrast to most shop-offices, I-City’s units will have lift access, implying that rentals on the upper floors can be fairly consistent.

Part of the crowd envisaged to flock to CityWalk will come from the immediate catchment area of Shah Alam itself, which the property consultancy report said has a population growth rate of four per cent per annum and a current size of 470,000.

“With an expected population of 590,000 by 2010, (the residents and workers in) Shah Alam are looking for a live-wire destination to patronise within their area and I-City aims to be it,” said Ong.
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Old October 23rd, 2008, 11:10 PM   #27
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I-Berhad eyes double-digit profit growth
Published: 2008/10/23

PROPERTY developer I-Berhad aims to achieve double-digit growth in net profit by year-end, driven by its unique information and communication technology (ICT) infrastructure, said its director, Eu Hong Chew.

“These are the kind of services office users are looking for and they are market-driven,” Eu told reporters after the preview of its RM2.0 billion integrated commercial development, i-City, in Shah Alam today.

For the financial year ended December 31, 2007, the company recorded a pre-tax profit of RM700,000 on the back of RM1.631 million in revenue.

Eu said i-City was designed as a fully-integrated township, comprising a shopping mall, corporate towers and corporate offices, office suites, shop offices, office and retail suites, hotel, apartments, a data centre and an innovation centre.

“Concierge services are also provided in i-City, which is equipped with meeting rooms and event halls in order to cater to the needs of tenants.

“All meeting rooms and event halls are equipped with wireless broadband connection and state-of-art audio visual facilities,” he said. — Bernama
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Old October 23rd, 2008, 11:24 PM   #28
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PNB To Be Selective In Stock Investments
October 23, 2008 19:59 PM

SHAH ALAM, Oct 23 (Bernama) -- Permodalan Nasional Bhd (PNB), the country's largest fund management company, will be selective in looking for good stocks for its investment portfolio, said its president/group chief executive, Tan Sri Hamad Kama Piah Che Othman, Thursday.

"We are always in the market, whether when it is down or up because we are an investment house. We will be selective.

"If we feel there is an investment opportunity, we will definitely grab it because the fundamentals are still strong and we are not in financial crisis," he told reporters at the preview of i-City, I-Bhd's RM2.0 billion integrated commercial development here today. Also present was I-Bhd Chairman, Datuk Lim Kim Hong.

Hamad Kama Piah said although there were some effects from the global financial crisis on the local equity market, there were still a lot of opportunities.

"Whatever happens in the outside world will affect our market. If the market is down, we have to be selective in looking for good stocks for our portfolios," he said.

He said PNB was pleased with the development of i-City, which used unique information, communication and technology infrastructure.

"I hope with this development, as shareholder, we will get something in the future, and the partnership with the Australia's ServCorp Ltd will be benefical," he said.

On whether PNB would increase its stake in I-Berhad, he said there was no plans yet.

PNB currently holds about 18 percent in I-Bhd.

"We will see the long- and short-term opportunity and will seek advice on the matter," he said.

-- BERNAMA
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Old October 25th, 2008, 08:43 AM   #29
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i-Berhad expects RM2b township to drive profit
By Adeline Paul Raj Published: 2008/10/24



I-BERHAD, a home appliances maker turned property developer, expects to see double-digit growth in its net profit this year.

Director Eu Hong Chew said this would be driven by its RM2 billion integrated commercial township in Shah Alam, known as i-City.

Last year, the company made a net profit of RM1.9 million.

"The main (profit) drivers will be the investment by Al Rajhi Bank as well as our tenancies," he told reporters after a media preview of i-City yesterday.

A few months ago, Saudi Arabia's Al Rajhi Bank, the world's largest Islamic banking group, paid RM95 million to buy some commercial space in the first phase of the township's development.

i-City, which spans 72 acres and has MSC Cybercentre status, has so far managed to attract 12 companies, including two multinationals, to take up tenancy since obtaining its certificate of fitness six weeks ago.

Another eight companies are expected to move in before the end of the year, said Eu.

These 20 companies would take up about 30 per cent to 40 per cent of the township's office space.

Eu said 100 per cent office tenancy would be possible by the middle of next year as there has been strong demand for space.

He pointed out that developments like i-City stand apart from others in that it is an information, communications and technology (ICT)-based township.

"These are the kind of services office users are looking for, and they are market-driven," he said.

He added that i-City, envisioned to be a digital city, is on track to be fully completed by 2015 as planned, with a shopping mall, an innovation centre, corporate office towers, serviced apartments and hotels.

Eu said the company does not expect to defer any launches and that its fiscal performance is unlikely to be affected by any economic slowdown next year.

I-Berhad is also keen to do joint venture developments with other landowners outside of the Klang Valley.

"We have been approached by two or three developers to see if we can bring the i-City concept to their developments," Eu said, adding that such plans are still at a preliminary stage.
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Old October 25th, 2008, 08:44 AM   #30
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i-City makes its debut
Saturday October 25, 2008
By JAYAGANDI JAYARAJ




Spanking new: A row of office buildings
at the phase 1A of the i-City.



THERE is a new landmark in the city that boasts a well-connected and fast, cosmopolitan lifestyle.

Located in Section 7, Shah Alam, along the Federal Highway, the i-City is a RM2bil integrated commercial development on 29 hectares of freehold land by I-Berhad.

Designed by award-winning architect Jon A. Jerde, it is a fully integrated township with amenities ranging from a shopping mall, corporate towers and corporate offices, office suites, shop offices, office and retail suites, hotels, service apartments and a data and innovation centre.

Currently, phase 1A of the ICT-based commercial township comprising 44 units of cyber office suites has been completed. The entire project is expected to take five years to complete.

The development was envisioned to be a Digital City.

It has obtained certification as a MSC Cyber Centre from the Prime Minister Datuk Seri Abdullah Ahmad Badawi, making its status similar to that of Cyberjaya, KL Sentral and the KL City Centre.

The area is connected with a giga-speed fibre-optics network that allows complete connectivity and mobility, resulting in a true plug-and-play environment with a network capacity up to 10gbps.

i-City chief innovative officer Ricky Lim said the development was a well-rounded structure that offered everything for the people who workedthere.

“We have offices, malls and residences with super broad band connectivity,” said Lim.

“The i-City is specially built for all knowledge-based businesses dealing with a lot of content and data.

“We just make the township very convenient and accessible by looking at every possible needs of the tenants, thus saving on travelling time, cost and more,” he said at the launch of the Concierge services at the townshipon Thursday.

The services and the network set-up is an agreement between I-Berhad and Australia’s ServCorp and their key services are reception greeting, call management, facilities management, customer service and support.

i-City Concierge is also equipped with meeting rooms and event halls to cater to the needs of the tenants and they are equipped with wireless broadband connection and state-of-the-art audio-visual facilities.

“The Concierge services concept offered in i-City is first of its kind in Asia, further stamping i-City as the premier technology city in this region,” he added.

Last edited by nazrey; August 9th, 2009 at 11:00 AM.
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Old October 25th, 2008, 08:45 AM   #31
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Wind of fortune blowing for I-Bhd
by Chong Jin Hun, 24 Oct 2008 4:00 PM



Lim (centre) and Hamad Kama Piah (right) look at a model of the i-City
development project as Serv-Corp Ltd Australia CEO Marcus Moufarriage
looks on


SHAH ALAM: The wind of fortune is blowing for I-Bhd as the company charts a new course in real estate and information and communication technology (ICT). Returns from its maiden property development in Shah Alam are expected to boost net profit by at least 10% in the current financial year ending Dec 31, 2008 (FY08).

I-Bhd, formerly known as Sanyo Industries (M) Sdn Bhd, began as an electrical home appliances manufacturer. Stiff competition from low-cost producers in China had prompted the company to think outside the box, which eventually led to I-Bhd's exit from the business.

In the second half of 2005, I-Bhd unveiled its intention to undertake its maiden property project - the RM2 billion i-City. The integrated commercial development sits on 28.8ha (72 acres) of freehold land in Shah Alam's Section 7.

"The journey we started three years ago is bearing fruit. We have nowhere to go but up," I-Bhd director Eu Hong Chew told reporters during a media visit to i-City's development site yesterday.

"We expect double-digit growth in net profit in 2008," Eu added.

I-Bhd's earnings declined in FY08's second quarter ended June. Net profit fell 4.4 % to RM525,000 from RM549,000 a year earlier while revenue was down 36% to RM475,000 from RM742,000. Going forward, property development will be the company's major revenue source.

i-City, a privately-funded five-year initiative, is due for completion by 2011. The future digital city includes a shopping mall, offices and hotels, besides apartments. So far, 44 cyber office suites have been completed and sold.

i-City was certified as an MSC Cybercentre by the government in May this year, placing the project on a par with Cyberjaya, KL Sentral and the Kuala Lumpur City Centre.

The corporate makeover of I-Bhd has received the thumbs-up from a major shareholder. Permodalan Nasional Bhd (PNB) president and group chief executive officer Tan Sri Hamad Kama Piah Che Othman said PNB was convinced of I-Bhd's new business model which combined the expertise of real estate development and ICT, hence differenting the firm from other property players in the country.

PNB is the second-largest shareholder with 17.15% in I-Bhd, after Sumurwang Sdn Bhd which holds 54.45%. "Good things will happen here (I-Bhd)," Hamad Kama Piah said during the visit to i-City yesterday.

He was non-committal when asked whether the state-owned fund manager planned to raise its stake in the property developer. "I have to get my advisers' (opinion). Our people will look at it," said the captain of PNB which manages some RM120 billion as of June this year.

Other property firms under PNB's stable include Island & Peninsular Bhd and Petaling Garden Bhd. PNB had taken both firms private in 2007.

I-Bhd fits strategically into PNB's portfolio as the developer could extend its ICT expertise to other real estate firms held by the fund manager.
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Old October 28th, 2008, 05:45 AM   #32
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Plans to make Shah Alam international Islamic banking hub
Tuesday October 28, 2008 By LAW KAI CHOW TheStar



I-Bhd chairman Datuk Lim Kim Hong (left), Menteri Besar Selangor Tan Sri
Abdul Khalid Ibrahim (centre) and Multimedia Development Corp Sdn Bhd
(MDeC) chairman Tan Sri Abdul Halim Ali (right) at the launch of the i-City
International Park in Shah Alam on Monday. - Starpic by Raymond Ooi

SHAH ALAM: The Selangor government plans to turn Shah Alam into an international Islamic banking and financial centre, in the wake of slower growth in the state’s manufacturing sector.

Mentri Besar Tan Sri Abdul Khalid Ibrahim said greater competition from lower labour cost countries had caused the state to make the services sector its leading engine of growth, with focus on information and communications technology (ICT), tourism and Islamic finance.

“We want Middle East investors seeking investment opportunity in Asia to consider Malaysia as the Islamic financial hub because we can fulfil their requirements in terms of technology and expertise in syariah-compliant banking infrastructure, accounting and legal framework.

“We will embark on the setting up of an Islamic banking and financial centre by the second half of next year if the world market volatility has subsided (by then),” he said after the launching of i-City International Park Shah Alam yesterday.

A RM2bil project by I-Bhd, i-City sits on 72-acre freehold land in Shah Alam with state-of-the-art infrastructure and facilities such as super broadband with 20mbps speed, dual source of power supply and high performance integrated data centres. It has been endorsed as a MSC Malaysia Cybercentre, tourist destination and now an International Park.

The first phase of i-City, involving 44 office units, has been completed and sold with 50% bought by Al Rajhi, a Saudi Arabian banking group.

i-City has also attracted tenants from Britain and Singapore.

Local Government, Research and Studies Committee chairman Ronnie Liu said to qualify for International Park status, the development had to be of international class, in terms of buildings and ICT systems.

Meanwhile, Khalid announced that I-Bhd had committed a RM10mil fund for the next three years to work with the Selangor tourism unit to establish i-City and Shah Alam as “the focal point for ICT-related tourism destination.”

Tourism, Consumer Affairs and Environment Committee chairman Elizabeth Wong said the additional fund created a win-win situation because I-Bhd would be able to showcase its technology while the state government could attract investment and tourist into Selangor.
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Old October 28th, 2008, 12:26 PM   #33
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I-City A Magnet For Investors To Selangor - Khalid
October 27, 2008 18:34 PM



SHAH ALAM, Oct 27 (Bernama) -- The I-City project in Section 7 here, will give Selangor a competitive edge in attracting investments, particularly in the highly-competitive service sector, said Menteri Besar Tan Sri Abdul Khalid Ibrahim.

The real-estate project, developed by I-Bhd, is equipped with a fibre optic network connecting the entire 28.8ha development.

Apart from data storage, the project also has other facilities including hotel, shopping centre, apartments, office space, shops and parks as well as 20 megabit per second broadband connection.

Abdul Khalid said the I-City, a MSC status company, was offering incentives to investors including tax reliefs from the federal government as well as other incentives offered by the state government.

The state government would also support I-City's expansion from an ICT park to an ICT zone in the future, he added.

The I-City would also give opportunities to technopreneurs to expand their business through the incubator facility here, he said at the launcing of the project, which is now known as the "I-City International Park Shah Alam".

Abdul Khalid he would also discuss with I-Bhd and other parties to make Shah Alam the country's Islamic finance and banking hub.

"This is to provide ample investment options to international companies," he said, adding that I-Bhd could play a role in providing the technology.

He said Selangor was positioning itself as an investment destination for investors from the East Asian region which had been looking for alternative amid ongoing slowdown in Europe and the United States.

"They also see Asia and Asean as a new growth centre," he said, adding that the plan to set up hub would be pursued during the second half of 2009.

The first phase of I-City, involving 44 office units had been completed and sold out with 50 per cent of them were bought by Al Rahji, a Saudi Arabian banking group.

I-City has also attracted tenants from the United Kingdom as well as Singapore.

-- BERNAMA
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Old October 30th, 2008, 10:05 AM   #34
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City & Country: Digital and leisure hub for ICT workers
27 Oct 2008: THEEDGEDAILY

I-Bhd, the developer of i-City in Shah Alam, certainly has something to shout about, now that the Selangor government has designated the 72-acre state-of-the-art ICT-based development the i-City International Park.

After achieving that status, the developer can now move full speed ahead to create what it envisions to be an international knowledge-based community within a cosmopolitan lifestyle environment.

As an international park, i-City would be an exclusive area in Shah Alam where entertainment and lifestyle outlets - such as cinemas and theatres, bowling alleys, family theme parks, as well as food and beverage lifestyle joints can operate while events such as fun fairs, fashion shows, music and film events can be held.

For those of you who may not be aware, there are no cinemas in Shah Alam, definitely no pubs and none of the usual nightlife you would expect, say, in the Kuala Lumpur city centre. This is because the state has certain restrictions on "entertainment". However, the Sultan of Selangor himself has endorsed the international park status for i-City, which will be launched by the Selangor Menteri Besar on Oct 27.

Located on prime freehold land in Section 7 along Federal Highway Route II, between Universiti Teknologi Mara's main campus and the Bukit Rajah Industrial Park, the commercial development - inspired by renowned architect Jon Jerde - is scheduled for completion in 2015. Developed on a build-then-sell concept, i-City will feature a smart shopping mall, office suites, corporate office towers, serviced apartments, an innovation centre and hotels.
The recent move by the state may also see a boost in real estate values in Shah Alam.

i-City is being developed as a joint venture (JV) between I-Bhd and land owner Sumurwang Sdn Bhd. In the JV signed in 2006, the Cybercentre Office Suites, the mall and the Innovation Centre, were valued at RM60 per sq ft (psf).

In July this year, the recently completed Cybercentre Office Suites 1 units were sold to Al Rajhi Bank at around RM460 psf. That was after the development received MSC (Multimedia Super Corridor) Cybercentre certification. Now, with the international park status, one would expect another hike in values.

"This is definitely a positive development and a boon for the property market in Shah Alam," says property consultant KGV-Lambert Smith Hampton Sdn Bhd director Anthony Chua.

"Right now, Shah Alam's city centre is made up of offices, government buildings and a few shopping centres, the operation hours of which are limited. There are hardly any shophouses, which limits the kind of commercial activities here. So, business activities are restricted," he says.

He adds that the zoning certainly bodes well for i-City in terms of growth potential in the long run although one may not see a steep rise in prices overnight considering the current economic climate.

"It is a freehold development situated right beside the Federal Highway, so it has visibility. The masterplan is based on an international architect's design and with this exclusive zone, things seem to look good for i-City," Chua adds.
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Old November 17th, 2008, 08:49 AM   #35
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I-Bhd believes in continuous development
Monday November 17, 2008

LIM Boon Siong, 35, the elder of two sons of I-Bhd executive chairman Datuk Lim Kim Hong and its chief executive officer Datin Tey Siew Thuan has the entrepreneurial sprit of his parents and is a strong believer of continuous professional development.

Lim, who hails from Muar, Johor, graduated with a Bachelor of Business Administration (honours) from the Ivey Business School of the University of Western Ontario, Canada in 1994. He then obtained a Chartered Marketer Diploma and graduated from the Excellerate Business School for Entrepreneurs in Kuala Lumpur in 2000. He and his brother Ricky who is I-Bhd’s chief information officer, would attend international conferences to improve their knowledge and skills.

One of his earliest achievements in school was scoring eight distinctions in the SPM in 1989.

In recognition of his many achievements, he was the recipient of the Johnnie Walker “Walks of Inspiration” Award and Ernst & Young Entrepreneur of the Year, Malaysia.

During his varsity days, Lim was actively involved in many extra-curricular activities including being a Malaysia-Indonesia-Singapore Students’ Association committee member. He helped to organise the largest annual dinner for the association that promoted the three Asean countries to the Canadian community.

Lim started his career in the corporate finance department of Amanah Merchant Bank (now known as Alliance Investment Bank) in Kuala Lumpur. He then left to become a senior manager with a leading investment company.

Frustrated with wearing thick glasses and contact lenses, he underwent LASIK vision correction procedure in Melbourne in 1998. Amazed by this simple 10-minute operation, he became passionate about bringing LASIK to Malaysia.

He started making his dream a reality by first sending patients to Australia for treatment and later founded VISTA Vision Specialist (VISTA), a LASIK centre in Malaysia in 1999.

Under his stewardship, VISTA has grown to become a major eye care player specialising in vision correction and cataract multifocal surgery. “The major similarity between VISTA and I-Bhd is our continuous focus on customer needs, listening to them and satisfying their needs in an awesome manner ,” said Lim, who is the incoming president of Entrepreneurs’ Organization (EO) for 2009/2010.

EO is a dynamic, global network of more than 6,600 business owners in 38 countries. Founded in 1987 by a group of young entrepreneurs, it is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and also to enriched personal lives.

“Our parents were wise to ensure that we had a proper education until university level. Perhaps this explains why my younger brother and I have more approaches in handling things. Our education also allows us to utilise modern management styles like Blue Ocean Strategy, team handling and alignment, and strategic planning which complement the traditional approach,” he added.

Although not a technical person, he admits being a heavy user of IT products and gadgets (he owns a Macbook Air, iphone, and subscribes to 3G broadband on the move). “IT is the way to go and has proven to increase productivity and enhanced communication and alignment. I use skype video communication with my family while I am overseas. I can see and talk to my daughter and wife,” he added.

Last edited by nazrey; August 9th, 2009 at 11:01 AM.
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Old November 19th, 2008, 10:00 AM   #36
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i-City comparable to global intelligent cities
Monday November 17, 2008

Quote:
Not many people know that I-Bhd’s proposed RM2bil i-City in Shah Alam is managed by the group’s deputy CEO Lim Boon Siong and a professional team. StarBiz talks to Lim who describes himself as a “die hard entrepreneur”
WHILE many property developers are lying low and cutting back on launches in the face of a property market slowdown, I-Bhd is still making news for its most important and sole project, i-City intelligent city.

The former electrical appliance-maker turned information and communication technology (ICT)-based property developer has in less than two years forged strategic alliances with a slew of high-profile international and local partners.

They included ServCorp, CISCO, DataCraft, Intel, Telekom Malaysia, Kompakar, Universiti Industri Selangor, and lately AmBank, to provide this “No. 1 Technology City in Asia” state-of-the-art infrastructure and facilities from giga-speed fibre-optic network to smart banking services including full e-banking facilities.

“We are very pleased that i-City’s development is gaining momentum and becoming a global intelligent city comparable to other intelligent cities such as Dubai Internet City and Hong Kong Cyberport.

“The first phase of the development, comprising 300,000 sq ft of Cybercentre office suites has been completed in June this year and is ready for occupation,” said I-Bhd deputy chief executive officer Lim Boon Siong, adding that many tenants had moved in and renovating their offices.

Among key tenants are Logica and Redhot Media from the Britain and Unified Communication from Singapore. Kompakar, a leading data centre operator listed in Bursa Malaysia will occupy the 50,000 sq ft Tier-4 Ready data centre by first quarter of 2009.

“Future phases would transform i-City into a fully integrated township, comprising a shopping mall, corporate towers and offices, Cybercentre office suites, innovation centre, hotels and serviced apartments. It will also house multiple high-performance data centres and a digital media hub,” he added.

I-Bhd’s team has worked tirelessly the past three year and gradually seeing their labour bearing fruit.

On Oct 27, i-City was accorded “International Park” status by the Selangor state government, a boost to its image as the choice base for global technology firms.

The Government certified the privately funded project as an MSC Malaysia Cybercentre last May.

Lim said with the MSC Malaysia Cybercentre and International Park status, i-City’s vision to be the world’s foremost global intelligent city has been realised and would draw MSC Malaysia tenants and multinational companies (MNC) to invest in Selangor and Malaysia.

“To-date I-Bhd has invested over RM120mil. Our one-stop Concierge managed by ServCorp has been operational since October.

“Rental of meeting rooms and events hall with super-broadband of 20Mbps is also available. Tenants and visitors now have access to wireless internet with speeds of up to 20Mbps until March 31, 2009 for free,” he said.

Lim said phase 1 of CISCO Connected Real Estate (one of the world’s largest connected real estate) had been put in action such as CCTV to the personal computers and IP telephony which incorporates state-of-the-art teleconferencing system.

“This integrated commercial development is planned for both work and play. Tenants can expect to reduce their operation cost by as much as 30% and they could work, learn and socialise in a safe and secure environment served by remote surveillance, smart car parking, information kiosks, sensory-activated light and sound multimedia displays along a 1,000-foot pedestrian walkway,” he said.

Lim said the project was on track with the next phase of Cybercentre office suites to be ready by Q3 next year.

“What is exciting is that we have received increasing enquiries on purpose-built office buildings from MNCs to consolidate their office space and shared services from this region,” Lim said.

When asked to confirm rumours that I-Bhd is negotiating with a foreign party to develop the shopping centre in i-City, Lim said talks had reached an advanced stage and “is on track”.

“We anticipate the mall to be operational by Q2 2012. We continue to receive anchor tenant interest in leasing space in the mall.

“One of them, GSC, has expressed interest to build a futuristic cinema in this mall,” he added.

While the Cybercentre office suites were funded internally, he said the group might also seek other funding options such as joint ventures.
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Old November 20th, 2008, 10:50 PM   #37
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i-City to be support hub for KLIA, Port Klang
19-11-2008: by Sharon Tan THEEDGEDAILY

SHAH ALAM: i-City can be a support hub for logistics companies serving Kuala Lumpur International Airport and Port Klang due to its strategic location, said Transport Minister Datuk Seri Ong Tee Keat.

He hoped the facilities in I-City would be able to turn it into a competitive commercial logistics hub, particularly for the telecommunications sector.

i-City, which has been granted The Multimedia Super Corridor status, is a RM2 billion integrated commercial development on 28.8 hectares of freehold land in Section 7, Shah Alam.

The township features shopping mall, corporate towers and offices, office suites, shop offices, office and retail suites, hotels, apartments, a data centre and an innovation centre.

i-City, which is developed by I-Bhd, is connected by one fibre optic network and managed as one commercial complex via the Cisco Connected Real Estate (Cisco Cre) Platform.

Ong said if housing and real estate developers could combine competitiveness and innovative ideas, they would be able to attract clients.
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Old November 21st, 2008, 11:15 AM   #38
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Big plans for i-City
Friday November 21, 2008 TheStar



New: Lim (left) and Ong posing in front of the
Jalan Multimedia signboard after the naming ceremony.


SHAH Alam’s most advanced township, i-City, was honoured recently with the visit of two ministers.

Transport Minister Datuk Seri Ong Tee Keat was the guest-of-honour at the official naming of the township’s main boulevard while Minister in the Prime Minister’s Department Datuk Seri Dr Ahmad Zahid Hamidi launched the International Islamic Hub in i-City.

I-City, developed by I-Berhad, is a RM2bil integrated commercial development on a 29ha site in Section 7, Shah Alam. I-Berhad chairman Datuk Lim Kim Hong’s vision is to make it a digital city where the entire township is connected by one fibre optic network and managed as one commercial complex.

“The technology to make this vision a reality is the Cisco Connected Real Estate (CISCO CRE) platform. With this technology in place, all the buildings and offices within i-City can communicate with one another as well as with the global community via high speed Internet service,’’ Lim said.

Ong said the i-City management model had parallels to many agencies and GLCs under the Transport Ministry such as Port Klang and KLIA which manage large areas.

“In these organisations, it is recognised that the rapid evolution of the Internet into an ultra fast, powerful and borderless communication tool has transformed the course in which businesses are conducted.

These organisations have adopted Internet technology to better provide customer services. In many ways, they are no different than i-City in making use of the Internet as the technology platform.

”In the current economic climate, the i-City business model is one way to allow these agencies and GLCs to continue to invest in technology without creating additional burden on the shareholders and the Government”.

”Furthermore, as the i-City is near KLIA and Port Klang, i-City could be a support hub for the many logistics companies located there,’’ Ong added.

He said from his ministry’s perspective, such a centre would be good because it would enable many Malaysian logistics companies to compete cost effectively with the global players.

I-City also offers a campus environment where the communities gather, meet and interact. It is not only an MSC investment location for the international business community, but also an international cosmopolitan lifestyle centre. So far, there are 12 MSC tenants in i-City, and more are expected to move in by next year.
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Old November 22nd, 2008, 08:54 AM   #39
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I-BHD Building a legacy
Saturday November 22, 2008 BY THEAN LEE CHENG TheStar

I-BHD executive chairman Datuk Lim Kim Hong thinks he is building an intelligent city. He is doing that and more. He is building a legacy.

Lim likens i-City to Hong Kong’s Cyberport and to Dubai’s Internet City and Media, but on a very much smaller scale. His two boys, Boon Siong, 35, and Ricky, 31, are deputy CEO and chief innovation officer respectively, are helping him.

Lim, 58, has reached a stage in his life where financial returns are no longer the main driving force. He wants to make a contribution to society. The other force driving him is his interest in technology and innovation.

Lim is not the regular entrepreneur. In the 1970s, his corporate vehicle Sumurwang introduced Dreamland brand of mattresses. Dreamland Holdings Bhd subsquently diversified into the stainless steel industry in the early 1990s and was renamed Kanzen Bhd.

Sumurwang later divested Kanzen, took an interest in Sanyo Industries Malaysia Bhd, renamed it I-Bhd and brought out a plethora of “i” brand of digital products. In 2006, I-Bhd went into the property development sector. On the unrelated nature of his past ventures, Lim says the formula remains the same.

“The word today is ‘innovation’ and because we have gone into property development, I want innovation to play a bigger role in what we put up,” he says.

When he steered the company into property development several years ago, the plan was to ultimately have two revenue streams - property development and technology - independent of each other.

Says its director Eu Hong Chew: “In about five years, property development may contribute between 60% and 70% to the group and technology the rest. One of the ways would be to offer our IT services to other developers. This will provide us with an independent IT revenue stream. The idea is to take their IT services out of i-City into other projects.

Eu says as the economy becomes more challenging, companies will look towards technology, especially IT, to help control and manage their business. “Despite the current global slowdown, our broad business direction remains relatively unchanged,” says Eu.

Like KLCC, Sentral, Mid Valley City, Bandar Utama city centre, Lim is delighted that i-City has already been given MSC Cybercentre status. Phase one, comprising about 300,000 sq ft of office space, is officially open for leasing.

Phase two with 200,000 sq ft of office space in three and five-storey units will be ready in the third quarter of next year. This will be another en bloc sale. They are in talks with investors from the Middle East, Japan, S Korea and Singapore.

“When the customer moves in, all the network, telephone infrastructure will be ready,” he says.

The entire 72 acres will take be ready in 2015 and comprises a mall with cinema facilities, several office towers and a lake of about 40 acres and park, a hotel and a small number of residential development.

Work on the mall is expected to begin in the first quarter of next year and will take three years go complete.

Eu says when i-City was planned three to four years ago, they asked themselves: What does knowledge-based office workers want? Broadband, events hall, concierge, parks and supporting amenities like food and beverage, malls and retail and a well-managed entity came into mind.

With their joint-venture partners - Sydney-based ServCorp and US-based networking equipment supplier Cisco Systems Inc among two of them - Eu and his team began to package the space accordingly.

“We are not doing a regular office commercial project, we are targeting a category of clients who like the nice perks and facilities that come with space, greenery and conveniences,” he says.

A central data centre will house the computers instead of individual companies having their own server rooms. This will be ready in the first quarter of next year. ServCorp will manage the place and Cisco, its broadband element.

There have been a lot of behind-the-scene negotiations to get the local authorities approvals for entertainment, tourism and technology elements. Incidentally, there are no cinemas, pubs or other forms of entertainment in Shah Alam due to state restrictions so i-City will certainly transform the township.

Notwithstanding the global crunch, the office environment is moving towards a greater need for conveniences, which is why ServCop and Cisco have been brought in, says Eu. When the project was first launched three years ago, the gross development value was RM1.5bil. It is estimated to exceed RM2bil today.

I-Bhd will keep between 30% and 40% of the development for recurring income and sell the rest to institutional investors. The mall, all the car parks and office towers will be kept for recurring income.

“In order to comply with MSC requirements, we have to manage the place and as such, we might as well deal with as few authorities as possible, hence, the en bloc sale. That was how it all evolved two to three years ago.

“I-City will be on a very much smaller scale compared to the international intelligent cities in Dubai and Hong Kong. As for the MSC Cybercentres in Bandar Utama, Sentral and Mid Valley, these are developments which are about 10 years old. It was only subsequently that they were given MSC status. Unlike them, we are building I-City from ground zero,” says Eu.
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Old December 14th, 2008, 10:38 PM   #40
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I-Bhd may seal deal with CapitaLand in early 2009
By Vasantha Ganesan Published: 2008/12/15 BusinessTimes

I-BHD, (4251) developer of the i-City project in Shah Alam, may sign a definitive partnership agreement with Singapore's CapitaLand for a RM500 million shopping complex early next year.

The project, which forms part of i-City, is expected to be ready as scheduled by the end of 2011.

"We are still in discussion with one foreign party, but there has been no firm conclusion yet," I-Bhd's deputy chief executive officer Lim Boon Siong said when contacted by Business Times.

Lim, who had earlier been quoted as stating that an agreement will be reached in the third quarter of 2008, said that the parties are still fine-tuning details.

Although he declined to say who its foreign joint-venture partner is, CapitaLand Ltd on October 23 informed the Singapore stock exchange that it was in talks with I-Bhd.
Lim expects that the earliest possible time that a deal is likely to be sealed would be early next year.

I-Bhd hopes to form a 70:30 joint venture, with a foreign institution holding the majority, to build an international-class shopping complex.

Once the joint venture is set up, I-Bhd will sell the land to the joint-venture partner. The mall will then be developed together, while its partner will manage the shopping complex.

The mall, with one million sq ft of gross lettable area, would be comparable to the Mid Valley Megamall in Kuala Lumpur.

i-City is creating an entire new community which is IT-advanced. As such, a mall is required.

The mall will cater to about 30,000 office population within i-City and 50,000 when the entire project is completed in 2012.

CapitaLand's interest in Malaysian shopping centres include Sungei Wang Plaza in Kuala Lumpur, Gurney Plaza in Penang and Mines Shopping Fair in Seri Kembangan, Selangor.
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