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Old March 6th, 2009, 03:32 AM   #1
rizalhakim
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FRASER RESIDENCE | Kuala Lumpur (Jalan Sultan Ismail) | T/O

YNH Property eyeing premium clients
By DAVID TAN


An artist's impression of the Fraser Residence Kuala Lumpur.

It aims to tap companies on the Fortune 500 and Forbes lists

GEORGETOWN: YNH Property Bhd aims to tap companies on the Fortune 500 and Forbes lists for its RM550mil Fraser Residence Kuala Lumpur mixed-development project to be managed by world-renowned hospitality service provider, Fraser Hospitality Pte Ltd.

Group executive chairman Datuk Dr Yu Kuan Chon told StarBiz the group was launching the project because it believed there was room for a premier international serviced residence brand in Malaysia.

“We engaged Fraser Hospitality as management service provider because more than 80% of its guests are on Fortune 500 and Forbes’ lists,” he said, adding that the agreement to engage Fraser Hospitality was inked on Wednesday.

The 446-unit Fraser Residence will be constructed next to Renaissance Hotel, facing both Jalan Ampang and Jalan Sultan Ismail. The project comprises two towers with one-and-two-bedroom serviced apartments.


There will also be office suites, a retail mall, a sky gymanasium, infinity lap pool and whirl pool sauna. Construction work is expect to start this year and scheduled for completion in four years.


YNH has also engaged Fraser Hospitality to manage Fraser Place Kuala Lumpur, which is scheduled for completion in the third quarter of 2009. “This project offers gold-standard serviced residences comprising studios, one-and-two-bedroom units and luxurious penthouses,” Yu said.

On a separate matter, Yu said YNH had on Feb 19 entered into a memorandum of understanding with Pantai Holdings Bhd to jointly build, lease and operate a private hospital in the Manjung Point township development in Sri Manjung, Perak.

“A Pantai hospital will add value and provide first-class medical facilities and services in our existing and future developments in the Manjung Point township. Pantai, with its experience and expertise, sees Sri Manjung as a very attractive investment,” he added.
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Old March 6th, 2009, 03:43 AM   #2
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YNH Prop to manage Fraser Residence KL
Written by Surin Murugiah
Thursday, 05 March 2009 23:07

KUALA LUMPUR: YNH Property Bhd’s unit Kar Sin Bhd has entered into an agreement with Frasers Hospitality Pte Ltd, a wholly owned subsidiary of Fraser and Neave Ltd, to manage gold-standard services residences in Kuala Lumpur.

In a statement on March 5, YNH said the 446-unit serviced residence development to be known as Fraser Residence Kuala Lumpur (FRKL) was the second “golden triangle” venture to be announced by Frasers Hospitality, the hospitality arm of property group Frasers Centrepoint Ltd.

The company said FRKL would be constructed on a piece of vacant land facing both Jalan Ampang and Jalan Sultan Ismail, next to Renassaince Hotel and would be close to two light rail stations and surrounded by entertainment malls, tourist attractions and offices.

The FRKL would comprise two towers with one- and two-bedroom service apartments, featuring a sky gymnasium, infinity lap pool, whirlpool and sauna. It is scheduled for completion in four years.

It said FRKL was part of a mixed development project comprising serviced residences, office suites and retail mall with a total gross development value of about RM550 million.

Last July, Fraser Hospitality signed an agreement with YNH for a 217-unit serviced apartment facility, Fraser Place Kuala Lumpur, which is part of mixed development on Jalan Perak.

It is scheduled for completion in the third quarter of 2009 and will offer gold-standard serviced residences comprising studios, one- and two-bedroom units and penthouses.

YNH executive chairman Datuk Yu Kuan Chon said the collaboration with Frasers Hospitality would further enhance its property’s values, image and reputation, in addition to the prime location of its properties.

Meanwhile, Frasers Hospitality chief executive officer Choe Peng Sum said the second agreement underscored the company’s commitment to Malaysia and its confidence in the long-term potential in this market.
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Old March 6th, 2009, 03:47 AM   #3
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YNH unit to manage Fraser Residence
Published: 2009/03/06





YNH Property Bhd’s wholly-owned unit, Kar Sin Bhd (KSB), has entered into an agreement to manage a 446- unit service apartment known as Fraser Residence Kuala Lumpur.

The deal was with Frasers Hospitality Pte Ltd, the hospitality arm of Frasers Centrepoint Ltd, a wholly-owned unit of Fraser and Neave Ltd.

Fraser Residence Kuala Lumpur, part of a mixed development project with a gross development value of RM550 million, is expected to be completed in the third quarter of 2009.
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Old March 6th, 2009, 07:03 AM   #4
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I don't see this happening soon. Prices for luxury condos will come down quiet a bit and there is a lot of supply coming to the market.
YNHB should better concentrate on their Lot 163 and Menara YNH and maybe introduce a competitive webpage prior to daydreaming of yet another Luxury Condo.
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Old March 6th, 2009, 08:45 AM   #5
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Anyone know the exact location? Is the entrance at Jalan Ampang or Jalan sultan ismail?
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Old March 6th, 2009, 08:58 AM   #6
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Quote:
Originally Posted by ST88 View Post
Anyone know the exact location? Is the entrance at Jalan Ampang or Jalan sultan ismail?
Care to introduce yourself prior to coming here and asking questions?
Why don't you ask the developer? We are just a bunch of people who love great architecture.
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Old March 6th, 2009, 09:02 AM   #7
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Quote:
Originally Posted by ST88 View Post
Anyone know the exact location? Is the entrance at Jalan Ampang or Jalan sultan ismail?
next to Renaissance Hotel
currently a parking lot...

image hosted on flickr

Lot 119 or Lot 129

image hosted on flickr


2 new projects in dis area...the other 1 is Solaris Towers by Sunrise Bhd

Last edited by rizalhakim; March 6th, 2009 at 09:07 AM.
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Old March 6th, 2009, 09:22 AM   #8
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another no money-company talk big? once they clear the land...and then publish and advertise their project in papers..then what? guess what will happen next?

delayed ----> parking lot...
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Old March 6th, 2009, 09:24 AM   #9
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Thanks Rizal.

Initially, it was Crest which blocked Cendana's view of KLCC. Now it is Fraser which will block Crest's view.

Who is gonna block Fraser?
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Old March 6th, 2009, 09:25 AM   #10
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Bank!
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Old March 7th, 2009, 01:12 AM   #11
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Originally Posted by OshHisham View Post
another no money-company talk big? once they clear the land...and then publish and advertise their project in papers..then what? guess what will happen next?

delayed ----> parking lot...

YNH so far have a good track record. A no-money-company talk big? Look who's talking?

This one not only no money but a big big tin kosong.
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Old March 7th, 2009, 03:06 AM   #12
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ok..we'll see...
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Old March 7th, 2009, 04:12 PM   #13
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Quote:
Originally Posted by szehoong View Post
YNH so far have a good track record. A no-money-company talk big? Look who's talking?

This one not only no money but a big big tin kosong.
I never liked YNH. They profited from the property boom in recent years. To make money with condos was not very difficult in the last 8 years in KL.
Their projects never shown any beauty and for a corporation of that size the webpage is a disaster. Last annual report online is from 2007 and the design does not even match the homepage of a mamak stall. This reflects ignorance towards interested parties and potential investors. 633 Residency was not even mentioned on their homepage. But maybe they feel that they can compete with Binjai and Four Seasons and people would like to live in Brickfields "by invitation" only.
The saga for Menara YNH is self explanatory. Does Sir Norman Foster actually knows that YNH appointed them to design this building?
In times like in the current financial crisis a real estate developer have to proof whether it is reliable or not and whether YNHB can seriously compete with TanTan, Bandraya, IJM, Beneton or YTL.
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Old March 8th, 2009, 06:14 PM   #14
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This is not the one by Lord Norman Foster, that's the one at bukit nenas. This one is located on Lot 188 in the map above. As such, I don't think it will block the KLCC view of the Crest.

Got hold of another artist impression: -

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Old March 9th, 2009, 09:43 AM   #15
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not bad...tq!!
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Old March 11th, 2009, 04:31 PM   #16
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Quote:
Originally Posted by Greg View Post
I never liked YNH. They profited from the property boom in recent years. To make money with condos was not very difficult in the last 8 years in KL.
Their projects never shown any beauty and for a corporation of that size the webpage is a disaster. Last annual report online is from 2007 and the design does not even match the homepage of a mamak stall. This reflects ignorance towards interested parties and potential investors. 633 Residency was not even mentioned on their homepage. But maybe they feel that they can compete with Binjai and Four Seasons and people would like to live in Brickfields "by invitation" only.
The saga for Menara YNH is self explanatory. Does Sir Norman Foster actually knows that YNH appointed them to design this building?
In times like in the current financial crisis a real estate developer have to proof whether it is reliable or not and whether YNHB can seriously compete with TanTan, Bandraya, IJM, Beneton or YTL.


Yes ....I do agree with you on the part esp where their online presence is concerned. However they do have a good track record all these while at the Manjung District in Perak. In their corporate HQ at Seri Manjung is a disaster itself

Yea.....they might be an 'out-of-towner' developer but they haven't (at least to my knowledge) screwed any of their projects. Another similar developer I could compare with YNH is Malton (close but no quite the same). Malton did a great job with Pavilion. They might not be too professional in their presentation but so far they haven't done anything that might affect their projects in KL.

Nah....I dun think they are in the same league as YTL or Tan&Tan
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Old March 14th, 2009, 06:06 AM   #17
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Originally Posted by rizalhakim View Post
new from YNH...what???

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Formerly known as Project 3KL
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Old April 21st, 2009, 09:10 AM   #18
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Frasers Hospitality Scores Another Prestigious KL City-Centre Development


SINGAPORE, Frasers Hospitality Pte Ltd today underscored its intention to become a major player in the Malaysia serviced residence scene with the announcement of its second world-class serviced residence in the immediate vicinity of the iconic Petronas Towers in Kuala Lumpur’s city centre.

The 446-unit serviced residence development which will be named “Fraser Residence Kuala Lumpur” is the second venture to be announced by Frasers Hospitality Pte Ltd, the hospitality arm of property group Frasers Centrepoint Limited. It will be located within the “golden triangle” of the Malaysian capital, where most international banks, oil and gas companies and multinational corporations are based. In July last year, Frasers Hospitality Pte Ltd had announced its foray into Malaysia with Kar Sin Bhd for a 217-unit serviced apartment development at Jalan Perak called “Fraser Place Kuala Lumpur”. This is part of a mixed development within walking distance of the Petronas Towers and is also owned by YNH Property Bhd.

The new YNH development, which will be constructed on vacant land facing both Jalan Ampang and Jalan Sultan Ismail is close to two light rail stations and surrounded by entertainment malls, tourist attractions and offices. Fraser Residence Kuala Lumpur will comprise two towers with one and two-bedroom serviced apartments. It will feature a sky gymnasium, infinity lap pool, whirl pool and sauna and is scheduled for completion in 2012. Executive Chairman of YNH, Dato’ Dr Yu Kuan Chon said “This is YNH’s second collaboration with Frasers Hospitality after Fraser Place Kuala Lumpur in Jalan Perak. With Frasers Hospitality’s global network and expertise, we are confident that this new serviced residence will be professionally managed”.

“We are very happy that Frasers Hospitality has agreed to work together with YNH again as they will further enhance our property’s value, image and reputation, in addition to the prime location of our properties. Frasers Hospitality has built a reputation as one of the best international branded serviced residence management companies in the world.” added Dato’ Dr Yu.

Fraser Place Kuala Lumpur which is scheduled for completion in the third quarter of 2009 will set a new standard for Malaysia’s extended stay segment. It will offer Gold-Standard serviced residences comprising studios, one and two-bedroom units and luxurious penthouses.

Every apartment has a separate bedroom, a fully-equipped kitchen complete with dishwasher, cooking implements, cutlery, washer and dryer. Residents can also make use of its all-day dining outlet, meeting and function rooms, state-of-the-art fitness centre as well as an inviting playroom for children. “Our ties with YNH are greatly strengthened with our second major Kuala Lumpur project and reflects our vision of becoming a leading name in serviced apartments in Malaysia,” said Frasers Hospitality’s Chief Executive Officer, Mr Choe Peng Sum.

“It also underscores the commitment to Malaysia and our confidence in the long-term potential in this market,” he added. “As with our first project with YNH, we are confident that there is room for a premier international serviced residence brand in Malaysia, like ours.” “More than 80 percent of our guests are from Fortune 500 and Forbes’ list of companies and this will continue to form the majority of Frasers Hospitality’s guests.” Commenting on the development, Mr Choe said: “Frasers Hospitality’s serviced apartments are a boon for guests who enjoy the convenience of city living, yet at the same time desire some peaceful respite.”
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Old April 30th, 2009, 06:14 AM   #19
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Old June 15th, 2009, 05:13 AM   #20
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YNH’s serviced residences to be managed by Fraser & Neave
By DAVID TAN


GEORGE TOWN: YNH Property Bhd rebranded a month ago its RM350mil 163 Seviced Suites project as the five-star Fraser Place Kuala Lumpur to be managed by Frasers Hospitality Pte Ltd, the hospitality arm of the Fraser & Neave Group.

Fraser Hospitality manages four and five-star serviced residences equipped with hotel facilties worldwide under its prestigious Fraser Place, Fraser Residence, Fraser Suites, and Fraser Resort brand names.

Fraser Place Kuala Lumpur is scheduled to commence operations and grand opening in November 2009.

“We brought in Fraser Hospitality to manage because this will enhance returns and add value to our investors from the rentals of the serviced suites,’’ YNH corporate services head Daniel Chan told StarBiz.

“We estimated that for the location – Jalan Perak – where the project is located, which is five minutes from the KLCC shopping complex, the yield generated from rental is between 6% and 10% per year based on the purchase price of the units.

“Fraser Place Kuala Lumpur will be one of the higher-yield generating properties based on the purchase price of the units, which ranges from RM600,000 to RM2mil,” he said.

Chan said Fraser Place Kuala Lumpur was sold out, leaving only about RM80mil in unbilled sales to be recognised.

YNH started selling the project back in late 2005, and completed the sales only recently.

“The investors, both local and foreign, have agreed to lease their properties back to us, as they realised that they could generate higher returns through Fraser Hospitality management,” he said.

Fraser Place KL offers 217 rooms, comprising studios with one and two bedrooms and luxurious penthouses, with built-up areas ranging from 450 to 4,000 sq ft.

Chan said the group had also engaged Fraser Hospitality to manage its 446-unit serviced residence development to be known as Fraser Residence Kuala Lumpur, off Jalan Sultan Ismail, next to Renaissance Hotel.

The RM550mil project, comprising two 30-storey towers with one and two-bedroom serviced apartments, features a sky gymnasium, infinity lap pool, whirlpool and sauna.

“It is scheduled for completion in four years,” Chan said.

On the group’s 95-acre land in Genting Highlands, he said YNH planned to develop residential cum commercial projects with an estimated gross sales value of RM2bil.

On the group’s other projects, Chan said YNH had recently achieved sales of RM300mil for Menara YNH’s retail podium, which measures 180,000 sq ft.

“The offer from Kuwait Finance House to take up 50% of the office space in Menara YNH is expected to be finalised this year,” he said.

On the Kiara 163 project, located next to Plaza Mont Kiara, Chan said the group had achieved sales of RM200mil for the commercial component measuring 480,000 sq ft.

“We will launch the residential component, comprising serviced apartments, soon as there are a lot of enquiries from the local and overseas market,” he added.
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