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Old July 18th, 2009, 11:12 PM   #1
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KUALA LUMPUR | Vision City Towers | U/C

Quill Capita to manage assets worth RM750m
The CEO Interview
Stories by DANNY YAP

QUILL Capita Trust (QCT), a property trust that has been listed on Bursa Malaysia for a year, is going on an expansion trail that is projected to increase its portfolio of assets under management to at least RM750mil by year end.

QCT was listed on Jan 8, 2007, with four properties worth RM276mil under the Real Estate Investment Trust (REIT). All the properties are located in Cyberjaya with a combined net lettable area of 493,118 sq ft.

The REIT's manager, Quill Capita Management Sdn Bhd (QCM), recently placed two more properties into the trust, making it six properties in its stable.

Wisma Technip is one of the latest properties acquired and placed into Quill Capita Trust
QCM chief executive officer Chan Say Yeong said the two new additions - Wisma Technip, and the retailing and car park portion of Plaza Mont' Kiara – were acquired for RM125mil and RM90mil respectively, hence expanding QCT's net lettable area to 799,547 sq ft (excluding car park area).

Wisma Technip is a 100% occupied office building with a net lettable area of 233,021 sq ft, while the commercial shops are leased to food and beverage and retail tenants.

The car park lots of Plaza Mont'Kiara have a net lettable area of 73,408 sq ft with a 94.9% occupancy. The sale and purchase agreements for both properties were signed on June 8, 2007.

Chan said a placement of 151.44 million new units in QCT was concluded on Sept 3, which raised RM226mil, thus allowing the two properties to be purchased quickly.

Funds from the exercise allowed QCT to lower its gearing from to 0.17 from 0.31 and also gave the option to borrow up to RM400mil from financial institutions, which is preferred over selling more shares to raise funds.

In Malaysia, REITs are restricted to a gearing of 50% under the Securities Commission's guidelines.

Chan said QCT's recent acquisition and injection of two properties was just the start of an accelerated expansion plan to place more properties into the trust.


“Within five months from the date of QCT's listing, we bought two more yield-accretive properties with high occupancy and long-term tenancies,” he said, adding that the acquisition was in line with QCM's strategy to achieve better geographical spread of properties across the country to reduce risk.

Chan said the acquisitions were also in line with QCM's growth strategy to double QCT's asset size to at least RM560mil by end-2007.

“We have achieved this target and the REIT's performance (in terms of share price and investment return) has not disappointed investors,” he said.

QCT's share price closed at RM1.30 last Friday, representing a 54.7% rise its initial public offering price of 84 sen.

“We are now poised to fast track the growth of the trust,” Chan said, adding that there were several properties either from Quill Group of Companies (Quill) and CapitaLand or third party transactions that could potentially be injected into the REIT in the near to medium term.

Quill and CapitaLand are both significant stakeholders of the trust. The latter is one the largest listed real estate companies in Asia headquartered in Singapore.

Chan said other properties from Quill which could potentially be injected into the trust in time were the office tower Lot J at KL Sentral (350,000 sq ft), HSBC headquarters near Masjid Jamek (100,000 sq ft) and an integrated development, Vision City, located at Jalan Sultan Ismail (comprising 300,000 sq ft office space and 700,000 sq ft retail space).

He said Quill also had other properties in Cyberjaya that could be placed into the REIT.

“There's one property project due for completion soon, and also an office building in Petaling Jaya's Section 13 and a logistic centre in Subang that could be sold to the trust,” said Chan.

He added that QCM would be offered the first right of refusal on the commercial properties from Quill.

Moreover, Chan said, QCT could rely on CapitaLand to support the growth of the trust as it had a stake in the REIT.

In March 2007, CapitaLand announced the establishment of the Malaysia Commercial Development Fund with a target fund size of US$270mil.

The objective of the fund was to enable institutional investors (who park their money into the fund) the opportunity to invest in the Malaysian real estate sector.

Some of the properties from CapitaLand that could potentially be placed into the Reit are One Mont' Kiara (170,000 sq ft office space and 250,000 sq ft retail space), a property project in Hartamas area (500,000 office space and retail) and several property projects in Petaling Jaya.

On acquiring overseas property to enhance the REIT, he said it was unlikely.

“We will stay focussed on Malaysian properties because of their attractive valuations and rental, compared with other Asean countries,” he said, adding that foreign investors generally preferred investing in REITS with real estate portfolios that were within a specific country.

On the portfolio of investors in QCT, Chan said: “The trust has an equal balance of foreign and local investors.”
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Old July 18th, 2009, 11:14 PM   #2
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From http://www.quill.com.my/properties.html

[IMG]http://www.**************/show/2009/07/16/02/09/4460894_788x501.JPG[/IMG]

[IMG]http://www.**************/show/2009/07/16/02/09/4460906_794x522.JPG[/IMG]

[IMG]http://www.**************/show/2009/07/16/02/09/4460898_797x516.JPG[/IMG]
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Old July 18th, 2009, 11:15 PM   #3
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From Malaysian forum

[img]http://www.**************/show/2009/07/19/12/15/4489718_789x680.JPG[/img]
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Old July 18th, 2009, 11:16 PM   #4
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From Malaysian forum

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Old January 19th, 2012, 11:25 AM   #5
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Quill 15 - "Vision City Towers and Mall" launching soon.
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Old December 31st, 2012, 04:05 PM   #6
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DSC_2275 by archilover2, on Flickr

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DSC_2273 by archilover2, on Flickr

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Old March 13th, 2013, 07:38 AM   #7
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Construction resumed by Quill group.

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Old March 13th, 2013, 07:38 AM   #8
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Another Big Shopping Mall
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Old March 13th, 2013, 07:39 AM   #9
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10-MARCH-2013

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Originally Posted by dengilo View Post
[IMG][/IMG]
[IMG][/IMG]
Sometime last week.
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Old March 13th, 2013, 07:39 AM   #10
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new mall with 2 new towers by Quill
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Old March 24th, 2013, 06:58 AM   #11
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24-3-2013
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Originally Posted by sepul View Post
Platinum towers U/C at the back, Vision/Quill City in front.. taken today.

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Kuala Lumpur During Golden Hour by Mohamad Zaidi Bahauddin, on Flickr
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Old April 3rd, 2013, 05:22 PM   #12
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3-April-2013

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Taken today
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Old April 17th, 2013, 07:06 PM   #13
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Quill Retail issues RM700m bonds for new Mall

April 2, 2013
KUALA LUMPUR: Government-owned Danajamin Nasional Bhd will co-guarantee with DBS Bank Ltd and United Overseas Bank Bhd (UOB) a RM700 million bond to be issued by Quill Retail Malls Sdn Bhd.


According to a statement yesterday, Danajamin said proceeds from the bond programme will be used to construct a retail mall at Vision City, Kuala Lumpur.

Under this arrangement, Danajamin, DBS and UOB will provide guarantees of RM260 million, RM260 million and RM180 million respectively.

“The collaboration further reaffirms Danajamin’s commitment to partner the banking industry in its effort to facilitate Malaysian companies’ access to the bond market,” it said.

Vision City or Bandar Wawasan is a partially completed and abandoned integrated development project located along Jalan Sultan Ismail.

The project was originally developed by RHB Daewoo Sdn Bhd, formerly a direct subsidiary of Rashid Hussain Bhd, which was taken over by Quill Retail Malls in 2007.

According to past reports, the Vision City project was abandoned when the developer faced financial difficulties.


Its partially completed and abandoned components include a retail mall, an office block and an apartment block.

These uncompleted portions taken over by Quill Retail Malls are expected to resume development in the near future. The proceeds of the bond issue will be used to fund the project.

The RM700 million bond is said to form part of a RM850 million seven-year bond programme issued by Quill Retail.


“The bond programme comprises RM700 million guaranteed bonds and RM150 million un-rated bonds,” said the group.

Yesterday, RM425 million of the bonds with a maturity of four years were successfully issued and fully subscribed.

Hong Leong Investment Bank acted as principal adviser, lead arranger and lead manager for this bond programme.

Including the guarantee for Quill Retail, Danajamin has provided guarantees for RM6.1 billion sukuk and bond programmes.

Danajamin is 50:50 owned by Minister of Finance Inc and Credit Guarantee Corp Malaysia Bhd. The country’s first and only financial guarantee insurer has a paid-up capital of RM1 billion with another RM1 billion callable capital.

A member of the Quill Group, Quill Retail Malls specialises in designing and constructing building premises for multinational corporations such as HSBC Bank, BMW and DHL.

This article first appeared in The Edge Financial Daily, on April 2, 2013.

http://www.theedgemalaysia.com/busin...-new-mall.html
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Old May 24th, 2013, 12:13 PM   #14
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24-5-2013

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Originally Posted by dengilo View Post


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Old May 25th, 2013, 12:24 PM   #15
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24-May-2013

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Originally Posted by patchay View Post
New hoarding. New rendering. Get ready for official launch.


Quill Residences

image hosted on flickr



Quill City Mall http://www.quillcitymall.com.my

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Old June 11th, 2013, 02:57 PM   #16
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June 10, 2013

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Old June 11th, 2013, 02:58 PM   #17
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June 10, 2013

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Old July 1st, 2013, 08:32 AM   #18
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New render
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EPF bought the mall...


Published: Monday July 1, 2013 MYT 12:00:00 AM
Updated: Monday July 1, 2013 MYT 7:54:59 AM

EPF to buy mall in formerly abandoned landmark for RM1.2bil
By JOHN LOH
[email protected]



PETALING JAYA: Vision City, one of Kuala Lumpur’s most prominent failed landmarks, is abandoned no more.

Widely-panned as an eyesore on the level of Plaza Rakyat, Vision City is being revived as the RM2.5bil Quill City, a 7-acre mixed development at Jalan Sultan Ismail.

Anchoring the development is the 6-storey Quill City Mall, whose highly visible, half-built shell had lain disused for the better part of a decade. Quill City will also feature a residential and office tower.

Although slated to open in time for Hari Raya next year, the mall has already pre-leased more than 50% of its space, Quill group executive director Datuk Michael Ong told StarBiz.

“People still think the place is abandoned, but it’s all happening inside. We’ve been banging away for the past six months,” he said in an interview.

The privately-held Quill has a lot riding on this project, not least because it has agreed to sell the mall in its entirety to the Employees Provident Fund (EPF) for up to RM1.2bil, or RM1,561 per sq ft.

This is believed to be EPF’s first purchase of a retail mall in Malaysia. The pension fund had accepted the offer to buy the mall in December 2011, followed by the signing of the sale and purchase agreement in March this year.

The sale is subject to certain “performance targets” such as physical completion within three years and a minimum occupancy of 70% within 12 months of commercial operations, according to a RAM Ratings report in March.

EPF and Quill Retail Malls Sdn Bhd, the unit set up by Quill to undertake the development of Quill City Mall, will also enter into a type of sale and leaseback arrangement that would allow Quill to manage the mall under EPF’s ownership.

The plan entails Quill leasing the mall for three terms of three years each at incremental annual lease yields.

Quill Retail Malls had earlier this year gotten Danajamin Nasional Bhd, DBS Bank Ltd and United Overseas Bank (Malaysia) Bhd to co-guarantee a RM700mil bond issuance for project financing.

RAM Ratings said in a ratings announcement last October that the repayment of the debt would mainly be derived from the sale proceeds of the mall to EPF.

Quill City Mall marks the first large-scale retail venture for Quill, which made its name building custom offices for multinationals and selling luxury marques including Rolls-Royce and BMW.

As the focal point for Quill City, the mall will take up the bulk of the project at 60% or 4 acres.

Quill City Mall has an approved gross floor area of 1.35 million sq ft and net lettable area of 770,000 sq ft. It has so far secured three anchor tenants comprising a department store, cineplex and supermarket.

Ong said the department store was set to be the mall’s biggest tenant, occupying four levels and 230,000 sq ft.

It is believed that Quill had outbid the likes of Eastern & Oriental Bhd and Singapore’s UOL Group Ltd in the bid for Vision City in 2007. Quill paid RM430mil for the remaining unsold and partially completed properties from a unit of the then Rashid Hussein Bhd (RHB).

In 1995, RHB Daewoo acquired 11.5 acres of land for Vision City. It managed to sell three office towers at the site before the company ran into financial difficulties during the Asian financial crisis.

Despite its tumultuous past, the new owners are unfazed.

Quill City Mall, which would boast the longest street frontage for a retail centre in the country at 300m and a link bridge to the Medan Tuanku monorail station, has received “strong enquiries” from potential retailers, Ong said.

Previous studies showed that some 300 retailers were not represented in the immediate area.

Its leasing managers aimed to benchmark rentals to 1Utama, Mid Valley and Sunway Pyramid, according to Ong.

Quill plans to launch the residential component sometime next year and a 40-level office tower later.
http://www.thestar.com.my/Business/B...r-RM12bil.aspx
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Old July 1st, 2013, 08:32 AM   #19
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Another Artiste impression

A Quill rises from Vision City, EPF to buy mall in formerly abandoned landmark for RM1.2bil
Posted on July 1, 2013 - Featured, Property News.
By JOHN LOH | [email protected]

PETALING JAYA: Vision City, one of Kuala Lumpur’s most prominent failed landmarks, is abandoned no more. Widely panned as an eyesore on the level of Plaza Rakyat, Vision City is being revived as the RM2.5bil Quill City, a 7-acre mixed development at Jalan Sultan Ismail.


Artist impression of Quill City from the mall angle.

Anchoring the development is the 6-storey Quill City Mall, whose highly visible, half-built shell had lain disused for the better part of a decade. Quill City will also feature a residential and office tower.

Although slated to open in time for Hari Raya next year, the mall has already pre-leased more than 50% of its space, Quill group executive director Datuk Michael Ong told StarBiz.

“People still think the place is abandoned, but it’s all happening inside. We’ve been banging away for the past six months,” he said in an interview.

The privately-held Quill has a lot riding on this project, not least because it has agreed to sell the mall in its entirety to the Employees Provident Fund (EPF) for up to RM1.2bil, or RM1,561 per sq ft.

This is believed to be EPF’s first purchase of a retail mall in Malaysia. The pension fund had accepted the offer to buy the mall in December 2011, followed by the signing of the sale and purchase agreement in March this year.

The sale is subject to certain “performance targets” such as physical completion within three years and a minimum occupancy of 70% within 12 months of commercial operations, according to a RAM Ratings report in March.

EPF and Quill Retail Malls Sdn Bhd, the unit set up by Quill to undertake the development of Quill City Mall, will also enter into a type of sale and leaseback arrangement that would allow Quill to manage the mall under EPF’s ownership.

The plan entails Quill leasing the mall for three terms of three years each at incremental annual lease yields.

Quill Retail Malls had earlier this year gotten Danajamin Nasional Bhd, DBS Bank Ltd and United Overseas Bank (Malaysia) Bhd to co-guarantee a RM700mil bond issuance for project financing.

RAM Ratings said in a ratings announcement last October that the repayment of the debt would mainly be derived from the sale proceeds of the mall to EPF.

Quill City Mall marks the first large-scale retail venture for Quill, which made its name building custom offices for multinationals and selling luxury marques including Rolls-Royce and BMW.

As the focal point for Quill City, the mall will take up the bulk of the project at 60% or 4 acres.

Quill City Mall has an approved gross floor area of 1.35 million sq ft and net lettable area of 770,000 sq ft. It has so far secured three anchor tenants comprising a department store, cineplex and supermarket.

Ong said the department store was set to be the mall’s biggest tenant, occupying four levels and 230,000 sq ft.

It is believed that Quill had outbid the likes of Eastern & Oriental Bhd and Singapore’s UOL Group Ltd in the bid for Vision City in 2007. Quill paid RM430mil for the remaining unsold and partially completed properties from a unit of the then Rashid Hussein Bhd (RHB).

In 1995, RHB Daewoo acquired 11.5 acres of land for Vision City. It managed to sell three office towers at the site before the company ran into financial difficulties during the Asian financial crisis.

Despite its tumultuous past, the new owners are unfazed.

Quill City Mall, which would boast the longest street frontage for a retail centre in the country at 300m and a link bridge to the Medan Tuanku monorail station, has received “strong enquiries” from potential retailers, Ong said.

Previous studies showed that some 300 retailers were not represented in the immediate area.

Its leasing managers aimed to benchmark rentals to 1Utama, Mid Valley and Sunway Pyramid, according to Ong.

Quill plans to launch the residential component sometime next year and a 40-level office tower later.

http://starproperty.my
---
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Old July 1st, 2013, 11:37 AM   #20
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July 1st, 2013

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I really like the new monorail station, because the previous roof was really an eyesore

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