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Old July 2nd, 2013, 05:53 PM   #81
szehoong
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Originally Posted by W3raq View Post
Rename Thread. Pavilion 2 Jalil City
We do not rename threads so that you would understand or like.

When you create threads, please search for old ones and observe how others do it. Do not simply create threads. You are giving everyone unnecessary work to do.
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Old July 14th, 2013, 07:49 PM   #82
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some disciplines tender went out last month.. work wont start soon i guess
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Old July 15th, 2013, 03:34 PM   #83
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Last edited by davidwsk; July 20th, 2013 at 06:43 PM.
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Old July 20th, 2013, 06:42 PM   #84
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Ho Hup to pay RM36m for remaining 30% of BJD




By Isabella Francis of theedgemalaysia.com
Friday, 19 July 2013 11:46


KUALA LUMPUR: Ho Hup Construction Co Bhd has been ordered by the High Court to acquire the remaining 4.5 million shares or 30% stake in Bukit Jalil Development Sdn Bhd (BJD) from Zen Courts Sdn Bhd for RM35.97 million or RM7.99 per share.

Based on the court order, Ho Hup is required to buy the remaining 30% in BJD, which owns the right to develop 60 acres of prime land in Bukit Jalil, within four months.

“We are glad to get the minority issue out of the way,” executive director Derek Wong told The Edge Financial Daily.

Ho Hup said Zen Courts would have to ask Yeoh Keng Tat to resign as director of BJD on or before the purchase was completed.

On March 27, 2012, the court ordered a buyout of Zen Courts’ 30% stake in BJD by Ho Hup and that a valuation be made on the net tangible assets of BJD.

Pursuant to the said buyout order, an independent valuer was appointed on June 19, 2012 and a valuation report was issued on Dec 31, 2012. The court order will put an end to a protracted legal tussle between Ho Hup and Zen Courts.

The 60-acre tract in Bukit Jalil has made Ho Hup a target for predators and subject of a lengthy boardroom tussle.

Ho Hup’s previous board, headed by Datuk Vincent Lye, entered into a joint development agreement with Pioneer Haven Sdn Bhd, a subsidiary of Malton Bhd, a few hours before he and his team were ousted at a shareholders’ meeting in March 2010.

While the faction led by founding shareholder Datuk Low Tuck Choy had gained control after Lye’s ouster, Ho Hup’s financial restructuring was put on hold for two years as the company had subsequently got into a legal battle with Pioneer Haven over the rights to develop the Bukit Jalil land.

Both Ho Hup and Malton reached an out-of-court settlement last year, in which Ho Hup develops 10 acres on its own while the rest of the land is jointly developed with Malton.

Reports indicated that the potential development of the BJD land could produce a gross development value of over RM4 billion.


This article first appeared in The Edge Financial Daily, on July 19, 2013.



http://www.theedgeproperty.com/news-...30-of-bjd.html
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Old July 20th, 2013, 06:52 PM   #85
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Ask Some Question: Will Pavilion 2 have the same Anchor Tenant as Pavilion KL?
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Old July 25th, 2013, 04:32 PM   #86
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Zen Courts may appeal ruling, seeks to allow Ho Hup to buy out its 30% in BJD

Posted on July 25, 2013 - Property News.

BY JAGDEV SINGH SIDHU
JAGDEV@THESTAR.COM.MY

PETALING JAYA: Zen Courts Sdn Bhd will likely appeal the High Court’s decision to allow Ho Hup Construction Bhd to buy out its 30% stake in Bukit Jalil Development Sdn Bhd (BJD).


Ho Hup executive director Derek Wong Kit Leong

Zen Courts feels that the judgement had undervalued the portion of the land it partly owns, and is prepared to buy out Ho Hup’s stake in BJD at a premium based on the valuation set by the court.

The planned appeal is to seek a higher valuation for the land if it is to sell its share in BJD to Ho Hup.

Zen Courts feels that the price of the land should be higher based on recent transactions and the potential gross development value of the project that is to be built on the land.

“Zen Courts is going to appeal the decision,” said a spokesman of the company, adding, “We will use all legal avenues available to us.”







Ho Hup declined to comment when contacted by StarBiz.

To recap, Ho Hup had announced last Thursday that it would pay Zen Courts RM35.97mil to buy a 30% stake in Zen Courts. The stake purchase would give it full ownership of BJD.

“The buyout provides an exit for Zen Courts, while for Ho Hup, it gives it full control of BJD, which is currently developing a 24.28ha freehold site in Bukit Jalil just outside Kuala Lumpur,” said Ho Hup in a statement on July 18.

BJD has struck a joint-venture agreement to develop the 24.28ha land in Bukit Jalil with Malton Bhd in a development dubbed Pavillion 2, which is pegged to have two million sq ft of net lettable area compared with the 1.32 million for Pavillion in downtown Kuala Lumpur.

In the same statement, Ho Hup executive director Derek Wong Kit Leong said that Ho Hup was pleased to have the issue surrounding BJD resolved and planned to complete the buyout as soon as possible.

The High Court’s judgement had called for Ho Hup to pay Zen Courts an interest of 5% per annum on the purchase price calculated from July 18 until full payment is made. The buyout should be completed no later than four months after July 18.

Zen Courts had bought the 30% stake in BJD from the UEM Group for RM4.5mil in 2010. The shareholders of Zen Court are Tan Sri Leo Moggie and Tan Sri Rashpal Singh.
http://www.starproperty.my/index.php...its-30-in-bjd/
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Old August 2nd, 2013, 06:33 PM   #87
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Pavilion 2 mall to surpass Pavilion KL

Jul 1, 2013 - PropertyGuru.com.my

Ho Hup Construction Co Bhd is all geared to be profitable this year, and could reverse eight years of losses thanks to a deal inked with Malton Bhd to co-develop its 24.28ha land in Bukit Jalil.

According to market talk, Malton is developing properties there, including a regional mall known as Pavilion 2. With two million sq ft of net lettable area (NLA), it is more gargantuan than the 1.32 million sq ft Pavilion KL.

At present, Malton is still seeking government approval for the 20.23ha land portion it is entitled to. Nonetheless, the authorities have approved a plot ratio of four, as well as nine to 10 million sq ft (NLA) for the entire freehold project.

Malton is expected to roll-out its launches in Q1 2014.

On the other hand, Ho Hup has secured the development order for its 4.05ha land last February. The initial launches of shop offices on its land portion were warmly received, with 90 percent of the units already sold, which translates to RM260 million in sales, according to its Executive Director Derek Wong.

Moreover, Ho Hup’s 4.05ha land is divided into Parcel A, a 2.38ha mixed-use project featuring offices, a hybrid shopping mall and apartments on top of that mall, and Parcel B, which is entirely residential, comprising 15- to 18-storey condominium, with unit sizes ranging from 600 sq ft to 1,000 sq ft.

Set to be unveiled in Q1 2014, Parcel B has an estimated gross development value of nearly RM400 million, added Wong.
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Old August 5th, 2013, 06:15 AM   #88
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Old August 5th, 2013, 08:35 AM   #89
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Old or New Proposal?
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Old August 5th, 2013, 09:29 AM   #90
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dun think this is latest....cuz they mentioned the mall is larger than current Pavilion.
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Old August 5th, 2013, 09:34 AM   #91
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i like those copies of residential tower blocks
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Old August 5th, 2013, 09:38 AM   #92
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That is the Ho Hup old proposal....

Now Malton is the bigger party involved here.
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Old August 7th, 2013, 10:17 AM   #93
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Bukit Jalil highway will definitely be even more jam and pack when this pavi completed Anyone heard about a new highway called Kidex ? is it materialize ?
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Old August 7th, 2013, 10:24 AM   #94
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Ho Hup design & Malton design. Which one is the best?
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Old August 17th, 2013, 03:25 PM   #95
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Published: Saturday August 17, 2013 MYT 12:00:00 AM
Updated: Saturday August 17, 2013 MYT 6:57:33 AM

Ho Hup gets 2 notices of appeal from Zen



PETALING JAYA: Ho Hup Construction Bhd has received two notices of appeal from Zen Courts Sdn Bhd in relation to the former’s buyout of its 30% stake in Bukit Jalil Development Sdn Bhd (BJD).

Ho Hup said in a statement yesterday that the appeal relates to the High Court’s dismissal of Zen Courts’ application to make further representations on the valuation report issued by Ferrier Hodgson MH Sdn Bhd as independent valuer on Dec 31, 2012, as well as the High Court’s decision to fix the purchase price of Zen Courts’ shares in BJD at RM37.97mil.


http://www.thestar.com.my/Business/B...-from-Zen.aspx
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Old September 28th, 2013, 08:07 AM   #96
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what do you think of this SOVO?
can invest or not?

Last edited by davidwsk; September 28th, 2013 at 12:07 PM.
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Old September 28th, 2013, 08:10 AM   #97
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a hybrid 2,000,000 sq feet mall?
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Old September 28th, 2013, 08:53 AM   #98
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Quote:
Originally Posted by W3raq View Post
a hybrid 2,000,000 sq feet mall?
The hybrid mall is part of Parcel A.
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Old September 28th, 2013, 08:56 AM   #99
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Originally Posted by PT7 View Post

what do you think of this SOVO?
can invest or not?
Location wise is good.

Last edited by davidwsk; September 28th, 2013 at 10:08 AM.
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Old September 28th, 2013, 11:31 AM   #100
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Quote:
Originally Posted by davidwsk View Post
Location wise is good.
Deleted....

Last edited by PT7; September 28th, 2013 at 11:55 AM.
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