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Old March 25th, 2009, 03:58 AM   #1
rizalhakim
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LAI MENG SCHOOL REDEVELOPMENT | Kuala Lumpur (Jalan Ampang)

Magna buys school land
Published: 2009/03/24




Magna Prima plans to build commercial and residential properties worth RM1.3 billion on the land on which the Lai Meng Primary School and Lai Meng Kindergarten sits.

Magna Prima Bhd (7617) appears to have struck gold as it is buying a piece of prime land in Jalan Ampang, Kuala Lumpur, a stone's throw from the Petronas Twin Towers.

It will spend RM148.2 million to buy the land on which the 44-year-old Lai Meng Primary School and Lai Meng Kindergarten currently sits.

In its place, the company plans to build commercial and residential properties worth some RM1.3 billion, Magna Prima told Bursa Malaysia in a statement.

This would probably be the third time that a school in the city centre is giving way for redevelopment. In 2000, the Bukit Bintang Girls School was moved to make way for the Pavilion Kuala Lumpur, a shopping mall.
Eastern & Oriental Bhd and the Lion Group relocated St. Mary's School in Jalan Tengah/Jalan P. Ramlee to Selayang and work on the new project has started.


"The proposed acquisition also creates an opportunity for the group to venture into the high-end property market, seeing that land within the KLCC area available for development is scarce," Magna Prima said in its statement.

Magna Prima will buy the existing land of 10,587.5 sq m from the Lai Meng Girls School Association.

The purchase price, which is a quarter less than its market value, will be paid in cash and funded with internal funds, bank loans or through a joint venture with partners.

As part of the deal, Magna Prima will give another piece of land double the size of the existing property for the relocation of Lai Meng. The new land is in Bukit Jalil.

Magna Prima will design, arrange and organise the construction of the new school. However, it is unclear which party will bear the construction cost.

Its project in Jalan Ampang will only start when the new school is completed.

The development has an estimated gross floor area of 1.2 million sq ft and an estimated gross development value of up to RM1.3 billion.

The project, due to start in 2012, is scheduled for completion in 2015.

Shares of Magna Prima were not traded yesterday. The counter's last closing price was RM2.10.

..............ahhh i know dis will hapen coz dat area is totally a hot property.....strategic area...how bout the parking lot next to it???........
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Old March 25th, 2009, 04:00 AM   #2
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Magna mulling features of RM1.3b project
By Sharen KaurPublished: 2009/03/25



Magna Prima Bhd (7617) may build luxury residences or office towers, or both, on the 1.05ha prime site in Jalan Ampang, Kuala Lumpur, which it is buying from a school association.

It is learned that Magna is finalising the development features, which will be market-driven.

"We are doing a study to decide on the best components. It may be office towers, or commercial and residential mix," an official said on condition of anonymity.

The project, worth more than RM1.3 billion, will begin in 2012 and be completed in four years.

It will be Magna's single largest development to date and its second project in the Kuala Lumpur City Centre area.
The first was the RM300 million Avare condominium, neighbouring the Petronas Twin Towers near Jalan Stonor, launched in 2005.

"Magna aims to start the project in 2012 as it believes the economic situation will improve by then, thanks to the two stimulus packages launched by the government," the official added.

The official said it may construct the buildings on its own, or in a venture with a reputable firm to be identified later.

Magna is buying the land on which the 44-year-old Lai Meng Primary School and Kindergarten sits from the Lai Meng Girls School Association for RM148 million.

It may use its own funds as well as borrow to pay for the land, the official said.

Under the agreement, Magna is to rebuild the school and kindergarten on land it owns.

It is unclear where Magna will rebuild the school.

The company has pockets of land in Bukit Jalil and Jalan Kuching, Kuala Lumpur.

"We have not decided on the location. We will call for open tender to build the school, which will be at a choice location," the official said.

Analysts, who declined to be named, said that Magna is acquiring the land at a fair price and may sell the properties for between RM950 and RM1,000 per sq ft.

"Assuming 10 times plot ratio, construction cost of RM400 per sq ft and 80 per cent efficiency ratio, it would potentially translate into a total redevelopment cost of RM660 per sq ft, with average selling price of RM950 per sq ft, at 30 per cent margin," said an analyst.
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Old March 25th, 2009, 06:41 AM   #3
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hurray!!! another heritage structure to be demolished
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Old March 25th, 2009, 08:26 AM   #4
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OH NO P Ramlee will have a new neighbour.!!!
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Old March 25th, 2009, 01:11 PM   #5
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Quote:
Originally Posted by OshHisham View Post
hurray!!! another heritage structure to be demolished
aih i tot u heritage freak bukan?

but as expected the land there is too precious to be a school .... i'm already dreaming of glassy modern skyscrapers there ala the avare :lol

btw inner kl should preserve some schools lah ... no schools not city lah...
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Old March 26th, 2009, 10:59 AM   #6
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aih i tot u heritage freak bukan?

but as expected the land there is too precious to be a school .... i'm already dreaming of glassy modern skyscrapers there ala the avare :lol

btw inner kl should preserve some schools lah ... no schools not city lah...
hehe...u din get my sarcasm, rite?

in this case, architect should come out with innovative design which retain old heritage structure together with the proposed highrise.

we just desperately need a creative architect. not the typical one like those who designed KL Pavilion.

i just came back from HK. HK i must say is an example of what a city should NOT be when it comes to 'heritage conservation vs urban redevelopment'. it's a big cry to see HK lost more than 90% of its heritage structure...
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Old March 26th, 2009, 11:59 AM   #7
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Originally Posted by OshHisham View Post
in this case, architect should come out with innovative design which retain old heritage structure together with the proposed highrise.
What does the architecture of the school building look like?
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Old March 27th, 2009, 02:56 AM   #8
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What does the architecture of the school building look like?
looks alike the Maxwell School (the exposed clay brick wall) even tho no any ornament on its facade.

it is always good to move school from city center as it cause traffic congestion but at least the historical value of the site should be let known to public forever.

let us look at this company, Magna Prima request to DBKL.

--------------------------------------------------------------
Existing SRJK Lai Meng On : Lots 124,125,126,127 & 128 Jalan Ampang

Our company, Magna Prima Berhad has just purchased the SRJK Lai Meng school land and will develop this land as commercial eg. office & residential block . The land is still designated as ‘SCHOOL’ instead City Centre Commercial. Based on the draft KL 2020 Local Plan the proposed development is at the transit planning zone and one of the height control view. This meant that the development can have a plot ratio of 1:8.5 but with an AMSL of 210m (160.170m effect the height) is currently designated. As such, we wish to give our opinion as the followings:
  1. We hope DBKL be more flexible to allow higher plot ratio density limit of 1:12 or 1:14 and 500-600 per acre. For our site, we wish to request a plot ratio of 1:10 or 1:12. This will allow for more investors/corporation to set up regional office in KL.
  2. We hope DBKL to review the Height Control zone status to land as this will under our development. The higher the building, the better the view (huh, dreaming lah you! )and this will add value 4 premium to the development. That also will allow better streetscape & greenery as ground floor can be opened up as buildings goes up higher.
  3. Improvement and availability of an efficient public transport system and transit area to mitigate traffic
.
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Old March 27th, 2009, 12:57 PM   #9
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Quote:
Originally Posted by OshHisham View Post
hurray!!! another heritage structure to be demolished
Quote:
Originally Posted by argory View Post
What does the architecture of the school building look like?
Quote:
Originally Posted by OshHisham View Post
looks alike the Maxwell School (the exposed clay brick wall) even tho no any ornament on its facade.

it is always good to move school from city center as it cause traffic congestion but at least the historical value of the site should be let known to public forever.

let us look at this company, Magna Prima request to DBKL.

--------------------------------------------------------------
Existing SRJK Lai Meng On : Lots 124,125,126,127 & 128 Jalan Ampang

Our company, Magna Prima Berhad has just purchased the SRJK Lai Meng school land and will develop this land as commercial eg. office & residential block . The land is still designated as ‘SCHOOL’ instead City Centre Commercial. Based on the draft KL 2020 Local Plan the proposed development is at the transit planning zone and one of the height control view. This meant that the development can have a plot ratio of 1:8.5 but with an AMSL of 210m (160.170m effect the height) is currently designated. As such, we wish to give our opinion as the followings:
  1. We hope DBKL be more flexible to allow higher plot ratio density limit of 1:12 or 1:14 and 500-600 per acre. For our site, we wish to request a plot ratio of 1:10 or 1:12. This will allow for more investors/corporation to set up regional office in KL.
  2. We hope DBKL to review the Height Control zone status to land as this will under our development. The higher the building, the better the view (huh, dreaming lah you! )and this will add value 4 premium to the development. That also will allow better streetscape & greenery as ground floor can be opened up as buildings goes up higher.
  3. Improvement and availability of an efficient public transport system and transit area to mitigate traffic
.

First of all, Lai Meng school is not a heritage building. It is some school building built in the 80s design and it doesn't merit any conservationist effort.

My goodness......how could you even compare with Maxwell?

Next time try not to championed any conservation cause when you are so clueless of the historical baggage of the building.
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Old March 27th, 2009, 01:00 PM   #10
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Quote:
Originally Posted by OshHisham View Post
hehe...u din get my sarcasm, rite?

in this case, architect should come out with innovative design which retain old heritage structure together with the proposed highrise.

we just desperately need a creative architect. not the typical one like those who designed KL Pavilion.

i just came back from HK. HK i must say is an example of what a city should NOT be when it comes to 'heritage conservation vs urban redevelopment'. it's a big cry to see HK lost more than 90% of its heritage structure...

Just because you just came back from HK doesn't make you a subject expert. HK lost its historical buildings due to the lack of space and many of its old buildings are demolished even before they could become a heritage structure. So during the time of demolition, most of them are not even that old yet. And they do have better conservation effort than us here.
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Old March 27th, 2009, 07:25 PM   #11
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Quote:
Originally Posted by szehoong View Post
Just because you just came back from HK doesn't make you a subject expert. HK lost its historical buildings due to the lack of space and many of its old buildings are demolished even before they could become a heritage structure. So during the time of demolition, most of them are not even that old yet. And they do have better conservation effort than us here.
bloody hell. you don't have to use that tone everytime you speak just bcoz u r the moderator lah. you can learn from Baq on that.

that is the most common excuse made by anyone who unable to 'foresee' the value of heritage. so, 'lack of space' huh? PLEASE GET YOURSELF A BOOK written by Peter Moss titled; Hong Kong:Another City, Another Age on the real reason. and "they have better conservation effort than us here"??!!!. for God sake....what a non-sense. just wanna let you know, you can visit to the Hong Kong Heritage Discovery Centre to find that there is ONLY 5 heritage building to be revived.

and you can also read the frontpage of South China Morning Post on 21th March 2009 (or a day later/earlier) quoted one of the owner of newly gazetted building saying "government robbed my property" just bcoz he can't no longer demolish that building.

wasting time only talking and arguing with 'clever' people like this. huh. what an attitude....
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Old March 28th, 2009, 06:10 PM   #12
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that is what i wanna stress. an example of an architect and developer who has better brain than the typical. it shows how heritage old structure can stand and even give value and selling point for the ultra modern structure as that W Hotel project in Bangkok.
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Old March 29th, 2009, 01:17 PM   #13
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i went to lai meng primary. lots of memories. i'm quite sad that it'll soon make way for another building.

i agree that the architect should incorporate some elements of the old with the new. what a waste to just demolish the school. it is a beauty...
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Old April 21st, 2009, 06:56 AM   #14
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Mixed reactions to move

2009/04/13



KUALA LUMPUR: Parents who recently enrolled their children with Lai Meng Primary School are worried about the proposed relocation of the school.

Word has it that the school will be moving to Bukit Jalil.

Ng Chooi Hwa, 50, said her grandchildren were comfortable with the school just the way it was.

"Traffic is not so bad in the morning and afternoon. We just have to deal with after-work traffic but we have got used to it," said Ng, adding that Bukit Jalil was too far away.


Angela Yong said most of the students lived around Setapak, Wangsa Maju, Ulu Kelang and Kampung Baru.

"It's a waste of time to travel so far and the children have to be up very early to get to school on time.

"We're not objecting to the relocation but why not look for land nearby?"

Salina Chew, however, is looking forward to the possible move to Bukit Jalil. It will be much more convenient for her to take her children to the new school as she lives in Bandar Kinrara.

"I don't think distance is a problem but the school must maintain its quality. I know parents who drive their children to Lai Meng all the way from Rawang," said the 54-year-old woman.

Sheilla Hamid said some Malay and Indian children went to Lai Meng because of its excellent reputation.

"My son is a straight As student and is so disciplined... I would want him to complete his primary education here."
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Old April 21st, 2009, 06:57 AM   #15
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Disappearing old schools of Kuala Lumpur
2009/04/13
R.S. Kamini, Halimatul Hamid and Koi Kye Lee



KUALA LUMPUR: Famous old schools in the heart of the city have been torn down to make way for luxury residences, office towers and shopping complexes.

The Bukit Bintang Girls School in Jalan Bukit Bintang was demolished several years ago to make way for the Pavilion Kuala Lumpur shopping mall while St Mary's School was moved to Selayang from Jalan P. Ramlee.

The latest school to go will be Lai Meng Primary School and Kindergarten, which sits between a five-star hotel and a boutique hotel in Jalan Ampang.

The 80-year-old school, which is a stone's throw from the Petronas Twin Towers, will be replaced by commercial and residential properties worth some RM1.3 billion. The land was bought by development firm Magna Prima Bhd, for a reported RM148.2 million.


The company has promised the school a piece of land which is twice the size of its existing property. The chairman of Lai Meng's board of directors, Ng Beh Tong, said the move was a good thing.

"We will solve the traffic problems parents and police have been complaining about for years and we can add more classrooms to overcome the present shortage," said Ng.

"We may also be able to have a separate building for the kindergarten."

He said, with the additional land, the board may apply for a licence to open a secondary school.

"The agreement between the Lai Meng Association and Magna Prima has many conditions. These include the stipulation that the land will not be handed over until the school has moved to its new building."

He said it was too soon to comment on the exact location of the new school.

"There is no land available near Jalan Ampang or Ulu Klang. And we need to stay within the Federal Territory. To buy land in Selangor is complicated because of the many formalities."

He said discussions about moving the school to another location had been going on for more than 10 years.

"We wanted to move to Ulu Kelang in 1997 but the recession hit and the agreement was left unsigned."

He also added that the parties involved needed the Education Department's approval before they could proceed.
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Old April 21st, 2009, 04:16 PM   #16
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Bukit Bintang Girls School >>> Sekolah Sri Bintang Utara & Sekolah Sri Bintang Selatan, Taman Shamelin Perkasa, Cheras
St Mary's School >>> SMK St Mary, Taman Intan Baiduri, Selayang
Lai Meng Primary School >>> proposed site at Bukit Jalil
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Old April 21st, 2009, 06:18 PM   #17
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Disappearing old schools of Kuala Lumpur

The 80-year-old school, which is a stone's throw from the Petronas Twin Towers, will be replaced by commercial and residential properties worth some RM1.3 billion. The land was bought by development firm Magna Prima Bhd, for a reported RM148.2 million.

The company has promised the school a piece of land which is twice the size of its existing property. The chairman of Lai Meng's board of directors, Ng Beh Tong, said the move was a good thing.
whatever it is, we can't bear to see another eye sore in Kl as what happen to the site of Bok House. they demolish the house and then they keep numbers of dogs in that site. damn! very annoying tho.
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Old April 22nd, 2009, 03:33 AM   #18
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as usual ah beng developer.

dont care about the design...architecture wise...
only thinking making profit...money...money..money.
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Old April 24th, 2009, 11:24 AM   #19
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Lets see if they going to even dare touch my school since najibs now thw PM ha ha!!!
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Old April 24th, 2009, 11:51 AM   #20
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as usual ah beng developer.

dont care about the design...architecture wise...
only thinking making profit...money...money..money.
ah beng meh?? hehe...
like phua chu kang said...kami tak baguz tapi murah meh!!! hehe!!!
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