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Old December 5th, 2007, 08:26 AM   #1
rizalhakim
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11 MONT' KIARA | Kuala Lumpur ( Mont' Kiara) | 5X 43F | U/C



Busy times ahead for Sunrise

By theSun

THE next two years will be a busy one for Sunrise Bhd as the developer will be launching
its first project in North America, a 4.8-acre site in Richmond, Canada, as well as three
new products in its flagship development of Mont’Kiara Integrated Global Village.

Sunrise executive chairman Tong Kooi Ong (pix) said overseas ventures are vital to the
future of the group. “Although the gross margins from developing in Canada are
not as high as Mont’Kiara’s, we need to be farsighted and consider going offshore should
things slow down on the local front,” he said, after the company’s 38th annual general
meeting in Kuala Lumpur yesterday.

Sunrise will be developing 700,000 sq ft of apartments with some commercial elements in
Richmond, a suburb south of Vancouver. The site, which was bought for RM112 million in June
will be launched by June 2009 and construction, is slated to begin in mid-2008.


In Sunrise Mont’Kiara, Tong said it will not only be launching MK28, MK20 and 19 bungalows
in The Residence, but have managed to sell all units in 11@ Mont’Kiara. “Without being
officially launched, all units in 11@Mont’Kiara, except the 30% bumiputera allocation have
been sold. MK28 will offer 1.1 million sq ft of condominiums at a slightly lower premium
range than 11@Mont’Kiara. MK20 will have components of a shopping mall, offices and
residences,” he said.

The scale model of MK11

The RM800-million 11@Mont’Kiara is Sunrise’s latest 6-star luxury condo, with five
towers with a stunning sky bridge. The 5.4- acre project houses 342 condo units with sizes
between 2,068 and 7,688 sq ft and prices from RM727 psf.

Meanwhile, the developer will be completing the construction of 19 bungalows at The
Residence by March 2008 and units are being built under the build-then-sell concept. The
project is a bungalow precinct comprising 47 residences with sizes ranging from 7,500 to
16,000 sq ft.

Tong said that its landbank is a major input to the group’s production and key to its
future. “During the year we used 7.35-acres in Mont’Kiara for 10@Mont’Kiara, while we
acquired another 4.68 acres. Our Mont’Kiara landbank stands at 85.16 acres.
Sunrise also bought a 1.81-acre plot in the Kuala Lumpur city centre. We
plan to build over 500,000 sq ft of office space,” he said.

On two business areas (the Seremban Forest Heights township and a 58-acre plot in Kajang) where Sunrise continued to perform poorly, Tong said that they are looking into ways of improving.

“We are considering whether we want to continue selling the units in our joint-venture project with Singapore’s MCL Land in Seremban or to slow down the development,
while waiting for the natural demand to pick up,” he said.

Sunrise posted record quarterly earnings for the first quarter of its June 2008 financial year-end, boosted by the sale of retail units and car parks in Plaza Mont’Kiara, higher sales of existing launches and progressive billings from its on- going projects.

For the three-month period ended Sept 30, Sunrise recorded a turnover of RM220 million,
a 114% increase and pre-tax profits of RM85.6 million, a 179% hike compared with the previous
year’s corresponding quarter.

The group’s unbilled sales stood at a significant RM1.3 billion, one of the highest
among Malaysia’s listed property companies.
For the financial year ended June 30, 2007 Sunrise achieved a 55% growth in revenue to RM558 million from 2006’s RM359 million.

Last edited by TYW; January 22nd, 2011 at 02:09 PM.
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Old December 5th, 2007, 08:27 AM   #2
rizalhakim
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Sunrise poised for RM2bil sales

Unbilled sales largely from 10@Mont’ Kiara and Solaris Dutamas

By C. S. TAN

PETALING JAYA: Property developer Sunrise Bhd is building up one of the biggest reserves of unbilled sales in the country.*

The company's unbilled sales rose to RM1.3bil as at end-June from RM1.1bil at end-December and RM720mil at end-June last year.*

The larger contributions to these unbilled sales came from its 10@Mont' Kiara (MK10) condominium and Solaris Dutamas commercial projects, with unbilled sales of more than RM500mil each, analysts said.*

Unbilled sales are similar to order books of construction companies in that both refer to sales secured from customers but not booked as revenue in the profit and loss account yet.*

Typically, unbilled sales are booked as sales revenue as construction of the project progresses.*

»RM100mil per acre has been achieved with our recent launches« DATUK MICHAEL YAM
Sunrise's unbilled sales could rise to RM2bil this year if the upcoming marketing launch of 11@Mont' Kiara (MK11) was successful, analysts said.*

Sunrise managing director Datuk Michael Yam told StarBiz recently that the company would launch MK11 before the end of the year. The selling price for MK11 had yet to be determined.*

“Costing, especially construction costs, is being finalised but the selling price will be in line with current market prices in the Mont' Kiara and Hartamas area.*

“In tandem with the bullish sentiment and positive factors, particularly for prime high-end residential properties, registration has been very good, not only among our repeat customers but also from Singaporean prospects,” he added.*

Analysts said they understood MK11 would be a condominium comprising only 338 units but the project value would be high as the average unit would be priced at about RM720 psf, and for a 2,700 sq ft unit, the price tag would be RM1.9mil.*

Yam said that MK11, which would stand on 6.7 acres, was estimated to have a gross development value (GDV) exceeding RM650mil.*

Those were interesting numbers, analysts said, because it showed that Sunrise had reached a stage in which it could realise a GDV or total sales of about RM100mil an acre.*

Yam confirmed that rate of GDV. “It depends on the location, type or mix of development and price point. In general, RM100mil per acre has been achieved with our recent launches,” he said.*

That is a high level of added value because, in contrast, a township developer would require 50 acres or more in a good location to produce a GDV of RM100mil.*

Sunrise developed Mont' Kiara into an exclusive area that has become synonymous with luxurious condominiums. “We still have 85 acres undeveloped in the area,” Yam said.*

Noting that, analysts believe if the company continues to achieve a GDV of RM100mil an acre, the rest of its land-bank offered the potential of a GDV totalling RM8.5bil.*

That could increase further if the market for luxurious properties retains buoyancy.*

If Sunrise launches MK11 at an average RM720 psf, that would not even set a record in the area, although it is a rich price.*

The record still stands in the Sunway Palazzio condominium that was priced at RM846 psf. That is being developed by Sunway City Bhd in the Sri Hartamas suburbs that are adjacent to Mont' Kiara.*

Aseambankers said in a note that Sunrise had four new property projects that would be launched in its current financial year ending June 30, 2008. *

These are MK11, MK20, MK28 and Residence 2 bungalows and, together, the GDV would be about RM2bil.*
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Old December 5th, 2007, 08:27 AM   #3
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Sunrise profits jump 178%


by*Asia Pulse
Advertisement
Sunrise Berhad (KLSE:6165)* has registered a 178.9 per cent leap in first quarter pre-tax
profit to RM85.589 million (US$25.4 million) as the upmarket property developer benefited from contributions from ongoing commercial and residential projects.

Revenue jumped 114.1 per cent for the three months ended 30 September 2007 to RM220.624 million from RM103.063 million for the same period a year ago, it said in a filing to Bursa
Malaysia on Oct 23. Earnings per share increased to 17.47 sen from 5.13 sen previously.

Sunrise said sales of retail units and car park lots in Plaza Mont´Kiara was completed during the quarter. Other on-going commercial developments such as Solaris Mont´Kiara and Solaris Dutamas and residential developments such as Kiara Designer Suites, Banyan, Meridin and 10 Mont´Kiara also contributed favourably to the group´s profits during the quarter.

The construction progress of these projects is on schedule, it said.

The board is confident over the company´s prospects in the coming financial year with its substantial and locked in unbilled sales to date to be boosted with more upcoming launches in the pipeline.

The group´s sales are valued at RM120 million in the quarter and its unbilled sales amounted to RM1.2 billion as at 30 September 2007.

Sunrise said 11 Mont´Kiara, a 338-unit luxury condominium development, and phase 2 of the Residence, an exclusive bungalow development, are scheduled to launch this financial year.

The profits from these future billings together with these new launches will be recognised substantially over the next two financial years, it said.
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Old December 5th, 2007, 08:28 AM   #4
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10@MONT KIARA

Township: Mont Kiara
City: Mont Kiara
State: Kuala Lumpur
Property Type: Condominium
Land Title: Residential
Built Up: 3,478 sq. ft. - 7,500 sq. ft.
Land Area: 7.46 Acres
Listing Price: RM1,778,000 - RM5,043,000
Total Unit: 332
Tenure: Freehold
No Of Bedrooms:
No Of Bathrooms:
Completion Date: Sept 2007
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Old December 6th, 2007, 05:54 AM   #5
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Mont Kiara | Sunrise Projects >> http://www.skyscrapercity.com/showthread.php?t=471859
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Old August 1st, 2008, 10:46 AM   #6
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Old August 25th, 2008, 08:11 AM   #7
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Old September 3rd, 2008, 10:33 AM   #8
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Old September 9th, 2008, 08:27 AM   #9
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Old September 9th, 2008, 08:41 AM   #10
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Old September 9th, 2008, 08:42 AM   #11
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Old September 9th, 2008, 08:44 AM   #12
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Old September 9th, 2008, 08:47 AM   #13
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Old September 27th, 2008, 09:21 AM   #14
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Sunrise’s green initiative
By EILEEN HEE


KUALA LUMPUR : Property developer Sunrise Bhd, renowned for the beautiful development of Mont’ Kiara, plans to ensure that the grass is indeed greener on its side.

Following the achievement of its luxury 11@Mont Kiara (MK11) condominium as the first residential project in Malaysia to receive Singapore’s coveted Green Mark certification, Sunrise is set to lead the industry down the green path.

Another of its projects, Solaris on the Park, has also won the Green Mark.


Raymond Cheah (left) and general manager of branding and corporate communications Joachim Ng discus sing their corporate responsibility (green) project.

The Green Mark certification, issued by the Singapore government, is awarded to buildings and projects that are friendly to the environment.

Sunrise assistant general manager of development Raymond Cheah told Starbiz that the company’s future projects would reduce the impact on the environment, improve indoor air quality, utilise innovative technology and promote efficient use of energy and water.

“With all the negative impact that mankind has (inflicted) on Mother Earth, modern technology owes ecology an apology,” a philosophical Cheah said.

“Sunrise is promoting a culture of sustainable building practices in Malaysia to ensure a balanced quality of life that blends the environment into the built structures as an integral part of community living.” he added.

With Solaris on the Park and MK11 having already attained the Green Mark status, Sunrise would also be pushing for its 28@ Mont’Kiara and Solaris@Sultan Ismail projects for the award.

Green buildings are also good for the bottom line, Cheah said, citing statistics from the US that showed that green development properties commanded higher rental rates in the property market.

“77% of the population in the United States would pay a premium of about 1%-3% more for green properties,” he said, pointing out that the RM800mil MK11 luxury condominium, that was expected to be completed by 2011, only costs Sunrise an extra 2% to incorporate green features.

“If you compare us with the other developers who might want to go green, it might cost them about 10% more,’’ he said, explaining this was due to Sunrise’s longer track record in sustainable development.

By making use of what nature has to offer, the MK11 building is designed to make it less dependant on electrical power and would save an impressive 7 million kilowatt-hours of electricity generation per year, Cheah said.

“One of the green features of MK11 is the layout utilises prevailing wind conditions to achieve cross ventilation to maximise natural ventilation,’’ he said. The layouts are also open so there are substantial lighting and ventilation.”

Energy-efficient light equipment are used in the public areas, whilst energy-efficient lifts are installed.

Other features at the MK11 include a heat recovery system to recycle air conditioning heat, the use of recyclable materials and green-labelled timber flooring varnish.

Meanwhile, general manager of branding and corporate communications Joachim Ng said Sunrise’s green mission extended beyond the boundaries of its projects, pointing out that Sunrise had been upgrading public areas in Mont’Kiara as well.

One of the new public works that the company is undertaking is the landscaping of an 80-metre long roadside stretch on both sides of Jalan Kiara, from Mont’Kiara Banyan to Mont’Kiara Meridin.

“We have beautified this 2-metre wide stretch of public land that was until recently an strip of neglected land used as a dumping ground,” Ng said.

“Our beautification works include the laying of interlocking pavers to create a pedestrian sidewalk, planting of trees and beds of flowers.” Cheah said.
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Old October 30th, 2008, 05:18 AM   #15
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45% of MK 11 sold
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Old October 31st, 2008, 01:05 PM   #16
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Quote:
Originally Posted by rizalhakim View Post
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wowow... i like the swimming deck and the translucent pillar ahhaha and the podium facade looks like a shopping mall haha

anyway rizal how many floors?
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Old November 4th, 2008, 04:21 AM   #17
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43storeys
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Old November 4th, 2008, 04:27 AM   #18
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MK11 (Mont' Kiara) Final Units For Sale!

It has been inaccurately reported in the press claiming that MK11 is 45% sold this far. There are only 12 units left for grabs. It is such a disappointment how our local press always gets their facts and figures wrong. I wonder if their information is even updated or that they just print through hearsay without even speaking to the right parties. Anyway, here are the available units for MK11...

A-12-01 Type A1 RM2,840,000
B-36-02 Type B RM2,812,000
C-09-02 Type C RM3,128,000
C-11-02 Type C RM3,140,000
C-12-01 Type C RM3,146,000
C-12-02 Type C RM3,146,000
C-13-02 Type C RM3,152,000
C-20-01 Type C RM3,208,000
C-20-02 Type C RM3,208,000
C-31-01 Type C RM3,293,000
E-06-01 Type A1 RM2,796,000
E-09-01 Type A1 RM2,826,000

For further information, you can reach their sales office at 2093 7777.

http://investorsanonymous.blogspot.com
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Old November 4th, 2008, 04:39 AM   #19
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they sold the bumi lots too? or these 12 units not including bumi allocation?
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Old November 4th, 2008, 06:07 AM   #20
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Those are the bumi-lots, now re-opened for sale.
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