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Old August 27th, 2007, 06:34 AM   #1
pedang
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KUALA LUMPUR | Redevelopment of Selangor Turf Club | 108 fl | Pro

15 bid for STC‘s relocation
Job valued at RM500-RM600 mil, new turf club to be in the north along North-South Highway


By Yap Lih Huey, 10.57am


Some 15 major property players are eyeing a RM500 million to RM600 million contract to relocate and build the new Selangor Turf Club (STC) premises outside of Kuala Lumpur.


STC deputy chairman Datuk Richard Cham says the developers have submitted their proposals for the relocation, design and construction of the new premises since tenders were called in November.

Among the developers are Hong Leong Properties Bhd, Lion Land Bhd, SP Setia Bhd, Gamuda Bhd, Talam Corporation Bhd and MK Land Holdings Bhd.

The others include Arab-Malaysian Property Trust Management Bhd, Mah Sing Group Bhd, Berjaya Land Bhd and Tan & Tan Developments Bhd.

The turf club, which is currently located in Sungai Besi, will be relocated because of traffic congestion in the area and unsuitability of the land.

Cham tells FinancialDaily that the new site for the STC premises should ideally be located in the northern region along the North-South Highway.

It is learnt that there are three prominent developers that own large land banks in the northern area — Talam, Berjaya and Land & General Bhd with 4,000 acres, 16,400 acres and 2,700 acres respectively.

STC has been located on a tin mining land with a 90-year lease in Sungai Besi since 1993 when it moved from Jalan Ampang. Cham says STC wants to relocate to a freehold land.

The previous location at Jalan Ampang is now occupied by the Petronas Twin Towers, a hotel, retail and residential, recreational and entertainment facilities.

The Jalan Ampang land was bought by businessman T Ananda Krishnan.

“We will only appoint one developer to undertake STC’s relocation plan.

“It is practical to let one developer do it rather than appoint too many players for this project,” Cham says.

“The new STC would need a minimum of 600 acres of land, which would come from the appointed developer’s land bank,” he added.

“If there’s excess of land after developing the new STC, the developer can build a golf course or a sports complex around the new STC.

“It’s totally up to the developer to decide what they want to do with the excess land,” says Cham.

Cham cites traffic congestion and the sunken land in its current premises to be major factors to relocate.

“We received a lot of complaints from the jockeys. During the rainy seasons, the tin mining land is dangerous for the jockeys,” he says.

“The current premise is too small for us to develop world-class facilities. We want STC to be a racing resort.

“We want to convert horse racing into a tourism sport. This is in line with the government policy to promote equestrian sports,” Cham says.

On Nov 24, STC placed an advertisement in a local newspaper calling for tenders on the proposed relocation from its current premises.

The closing date for developers to submit tenders has since been extended from Dec 23, 2003 to Jan 31, 2004.

Once the tender closes, STC would appoint a consulting company to look into the proposals for the new turf club.

“It would take us a few months to decide. We will also have to call for an extraordinary general meeting by March or April 2004 to get majority approval (on the relocation plans) from our club members,” Cham says.

“So far, feedback from our members have been positive,” he adds.
Under its club constitution, each member would get a 10,000 sq ft plot of land in the new STC site. STC has about 600 members.

Membership into STC is by invitation from its committee members.
In 2003, STC recorded RM800 million in total bets. Cham forecasts bets for next year will see a 10% increase to RM880 million due to a more favourable economic condition.

In 2002, total bets stood at RM500 million. STC takes 9.2% from the total bets.

It is learnt that based on total bets, STC contributed RM55 million and RM88 million in 2002 and 2003 to the government's revenue.
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Old August 27th, 2007, 06:36 AM   #2
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BLand gets STC relocation job

Berjaya Land Bhd subsidiary Selat Makmur Sdn Bhd has been selected for a RM640 million job to relocate and build the new Selangor Turf Club (STC) premises, says an STC official.


The official, who declined to be named, tells FinancialDaily that Selat Makmur beat seven other major property developers to the job in a tender exercise. It proposes to relocate the club to Rawang, along the North-South Expressway.

STC has put up advertisement notices in newspapers on an impending EGM on March 31 to consider and approve Selat Makmur’s selection.

Pursuant to the advertisement, the club proposes to sell the existing land in Sungai Besi to Selat Makmur for RM640 million to be paid for in land, buildings and cash.

STC will get a 300ha land in Sungai Tinggi, Ulu Sungai district near Bukit Beruntung in Rawang, together with a “modern leading-edge racecourse of international standards with ancillary buildings” to be built by Selat Makmur at a cost of RM605 million.

In addition, STC will receive RM35 million cash, while each club member whose name appears on its register as at March 31 will get sub-divided vacant lots of about 10,000 sq ft of land in the new site.

“It seems that the members are in favour of the deal. The new location is ideal for traffic dispersal,” said an STC ordinary member when contacted yesterday. Furthermore, the vacant lot of 10,000 sq ft is seen as a great offer.

On Jan 2, FinancialDaily, quoting STC’s deputy chairman Datuk Richard Cham, reported on STC’s planned relocation to an area north of Kuala Lumpur, along the North-South Expressway.

About 15 major property players were said to be eyeing the contract. Among them are Hong Leong Properties Bhd, Talam Corporation Bhd, MK Land Holdings Bhd and Berjaya Land.

The existing site has to be relocated because of traffic congestion in the area and unsuitability of the land for horse racing.

STC has been located on a tin mining land with a 90-year lease in Sungai Besi since 1993 when it moved from its previous Jalan Ampang site.

The previous location at Jalan Ampang is now occupied by the Petronas Twin Towers, a hotel, retail and residential, recreational and entertainment facilities. The Jalan Ampang land was bought by businessman T Ananda Krishnan.





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Old August 27th, 2007, 06:37 AM   #3
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Old August 27th, 2007, 06:46 AM   #4
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this appears like the canceled lighthouse tower at new york long island
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Old August 27th, 2007, 06:49 AM   #5
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wow. big.
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Old August 27th, 2007, 08:39 PM   #6
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boxy but i really like it
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Old August 27th, 2007, 08:51 PM   #7
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Is it just me, or is this thread mixing two different projects. the Selangor Turf Club, if I'm not mistaken, is a horse track. The renderings don't appear to be this, and in fact, the first rendering lists the completion year as 2004! Looks to be an older project that didn't get off the ground?
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Old September 21st, 2007, 05:55 AM   #8
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Any News Anybody?
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Old September 21st, 2007, 11:22 AM   #9
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Not sure, can anybody tell about how it would be planned (like how to mall would look like or the sections of the buildings)
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Old October 31st, 2007, 06:27 AM   #10
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BLand sees growth in property sector
Wednesday October 31, 2007


PETALING JAYA: Berjaya Land Bhd (BLand) sees potential growth in its property development earnings, both overseas and locally, says Kenanga Investment Bank Bhd.

It was anticipating RM30.2bil worth of mixed development projects in Vietnam to contribute to its growth, in addition to the revaluation of its landbank in Taman Tar and Selangor Turf Club (STC) in Malaysia, it said, noting that the projects in Vietnam would spread from 2009 to 2019.

An analyst from Kenanga believed that BLand had a high probability of securing these projects, noting that less cost and time would be needed on resettlement issues, seeing that most of BLand’s Vietnam lands were unoccupied.

On the local front, BLand was expected to launch projects with a gross development value (GDV) of RM1.2bil on top of its on-going property development projects in the financial year ending April 30, 2008 (FY08) and FY09, the analyst said.

Its on-going projects, with GDV of RM802mil, are located in Bukit Jalil, Berjaya Park in Shah Alam, Taman Tar and Kuantan Perdana in Pahang.

According to Kenanga, BLand has planned a RM4.2bil mixed development project on the 248-acre STC, noting that its 10-year development plan had included a range of low to high-end residential development with commercial elements like a shopping mall, offices, service apartments and hotels.

STC’s possible conversion title to freehold from its current leasehold was expected to increase the land value by 30% to 50%, and a potential to increase its GDV to RM6.2bil from its original GDV of RM5.4bil, it said.

On top of that, BLand has also withheld launches of its Taman Tar bungalow plots to capitalise on higher pricing upon completion of Taman Tar’s main infrastructure works, as well as the pending approval for land title conversion, which is expected to increase prices by 30% to 50%.

The analyst believed that the remaining GDV of approximately RM324mil would increase by more than 15% once BLand resumed selling the land plots at Taman Tar towards the end of the year, adding that BLand had so far traded its bungalow plots in the Peak at Taman Tar at 81% to 127% higher than other residential sites in the area.

The research house rated the company as “trading buy” with a target price of RM7.61.

The counter closed two sen lower at RM4.30 yesterday on volume of 903,200 shares.

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Old October 31st, 2007, 02:06 PM   #11
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my dream come true
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Old November 2nd, 2007, 05:58 AM   #12
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Looks quite nice... A little mistake on the images i think... Year of Completion: 2004
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Old February 4th, 2008, 09:40 AM   #13
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wow, tall and nice colour building.
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Old February 4th, 2008, 09:46 AM   #14
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recent news..

Major projects set to push BLand ahead




The CEO Interview: Stories by ANGIE NG

BERJAYA Land Bhd (BLand), a unit of Berjaya Corp Bhd, is confident the strong performance of its local and overseas projects will propel the company into a major property force in the years to come.

Although its overseas business will contribute a large share of the company’s growth, BLand still has land bank of about 1,000 acres in Malaysia, with potential gross development value (GDV) of RM8bil over the next eight to 10 years.

According to BLand chief executive officer Datuk Francis Ng, most of the company's earnings presently were still from local operations although offshore projects had the potential to become big earnings contributor in future.

“On the local front, the company has on average RM300mil worth of projects a year and we expect to see this to grow by 10% to 20% annually. Our current land bank of 1,000 acres is still bigger than most other property companies,” he told StarBiz.

Most of the projects are in the Klang Valley like Ampang, Bukit Jalil, Shah Alam and Seputeh Heights. Besides The Link at Bukit Jalil, which comprises 3 to 3 ½-storey commercial shop houses, the rest are residential developments.

Ng said besides the company's ongoing property projects, BLand was expected to launch projects worth a total GDV of RM1.2bil for the financial years ending April 30, 2008 (FY08) and FY09. Its ongoing projects with RM802mil GDV are Savanna 2 in Bukit Jalil, Berjaya Park in Shah Alam, Taman TAR in Ampang and Kuantan Perdana in Pahang.

BLand is also planning a RM4.2bil mixed development on 248 acres at the Selangor Turf Club (STC) in Jalan Sungai Besi.

The mixed development will have bungalow lots, condominiums, shop houses, office towers, serviced apartments, shopping mall and hotel. It will take 12 years to complete.


Ng said the possible conversion of the STC land title to freehold from its current leasehold status was expected to increase the land value by 30% to 50%, which would potentially increase the project's GDV to RM6.2bil from RM4.2bil originally planned.

The company is also expecting good response for its soon-to-be-launched high-end bungalow project in Seputeh Heights – Vasana 25 @ Seputeh Heights. “The RM109mil gated project will be launch around June and the 3-storey houses will cost between RM3mil and RM5mil.

“Our target buyers are the home up-graders. Some of the units will come with lifts to cater to the future needs of these buyers,” Ng said.

Sited on a freehold 4.93-acre land, the project comprises 22 link bungalows and three bungalows. With land area of between 5,000 and 7,000 sq ft and built-up of 4,000 to 5,000 sq ft, the houses will have individual pools. It will take two years to complete.

On the remaining freehold 400-acre Bukit Jalil development, the company will be launching by April the Savanna 2 @ Bukit Jalil that comprises a block of 4-storey walk-up condo villas on 1.2 acres. The project, with GDV of RM22mil, will have 32 units of 3+1 bedroom units.

With average built-up of 1,615 sq ft, each unit comes with two parking bays while several units on the top level come with private gardens and a rumpus area.

Plans are also afoot to launch a 20-storey condominium on 2.91 acres next to Savanna 2 by April. With a GDV of RM125.7mil, the project offers 308 units of 3+1 bedroom residence with built-up of 1,278 to 1,404 sq ft.

BLand had last year signed a memorandum of understanding with South Korea's Hanju I&D Co Ltd for the sale of the entire 20-storey condominium block for RM126mil. It had earlier sold a block of 204 condominium units in its two blocks of development for RM64mil.

At Taman TAR, the project's remaining GDV of close to RM400mil is expected to increase by more than 15% once BLand resumes selling the land parcels over the next few months. BLand had earlier sold its bungalow plots in The Peak at Taman TAR at prices that were 81% to 127% higher than other residential sites in the area.
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Old March 21st, 2008, 03:15 PM   #15
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any news? will it ever be build at all?
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Old March 21st, 2008, 04:13 PM   #16
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most likely not
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Old March 22nd, 2008, 01:15 PM   #17
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To long proposed status!! Don't think it goes through!!
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Old March 22nd, 2008, 01:16 PM   #18
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double!!!
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Old March 22nd, 2008, 02:03 PM   #19
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Quote:
Originally Posted by Stephan23 View Post
To long proposed status!! Don't think it goes through!!
never give up your hope
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Old March 22nd, 2008, 03:44 PM   #20
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i hope it can be built!!
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