WARISAN MERDEKA | Kuala Lumpur ( Stadium Merdeka ) | Fender Katsalidis | 118F | 682m | Prep

[patchay]

Based on annual reports,

PNB is a major shareholder in the following companies:
1. Maybank
2. Sime Darby
3. Telekom Malaysia
4. Tenaga Nasional
5. UMW Holdings (famous for its Toyota, etc is also a major shareholder of Perodua - the nation's largest carmaker by sales)
6. CCM (Chemical Company of Malaysia - CCM Group is one of the nation's largest chemicals, fertilizers and generic drug manufacturing companies)
7. MMC Group
8. Bank Islam Malaysia
9. NCB Holdings (Northport Corp - Port Klang lah)
10. I&P Group

* PNB recently bought large stakes in S P Setia and Mah Sing Group (now we know why they so confident these days). And PNB has another few hundred companies under their shareholdings.

Kindly check the newspaper and see how much those companies shares are worth today compared to Oct 2009.

[TWK90]

Originally Posted by patchay

Most want money for schools, hospitals and MRT. This is very ignorant and uninformed. The Budget allocated billions for that already.

Most people are not well informed.

There are many public transport projects going on, if they really follow public transport news and go out more.

[cattivo]

Originally Posted by constipation

from http://www.facebook.com/pages/1M-Mal...62774653750749

just active 100hours ago,but already got more than 50,000 malaysian againts this project, i believe 2-3days ahead it will reach more than 100,000

well,as skyscrapers fan,how do u'all feel so far?

i think you're lost. go ask political forum. we're fans of skyscraper. typical Malaysian, don't know the right channel. no wonder our country moving backward. because some rakyat are brainless.

[cattivo]

Originally Posted by TWK90

Most people are not well informed.

There are many public transport projects going on, if they really follow public transport news and go out more.

Malaysians are ignorant, love hear-say & subsidies too much until couldn't think & do research before comment.

[cattivo]

Originally Posted by arepull87

ya la I read some comment on FB..some time what they said x masuk akal lngsung...WTF twin tower empty? where they get this information? PTT almost 100% occupancy..that why they build LOT C to fulfill the demand....Malaysian people is so ignorance...their knowledge about economy and general knowledge sometimes mcm tin kosong....nothing...najib pun satu...i think he made one of the most silly mistake..why he announce this tower in budget?...most people outhere think gomen use tax payer money..

they don't know this project are fully finance from PNB...no money from budget are use to build this tower...kalau la najib x umumkn mesti this project become low profile and xde la orng bising-bising sngt....

actually good malaysian people now more critical...but sometimes their thinking make non sense...everything mega project they will said waste of money..believe it or not some people also start question why we need MRT? in their mind every gomen project are corruption..only give benefit to cronies...it hard to change people perception now..

agree!!

these people better off from Malaysian & stay in Afghanistan.

[patchay]

Originally Posted by patchay

6. CCM (Chemical Company of Malaysia - CCM Group is one of the nation's largest chemicals, fertilizers and generic drug manufacturing companies)
[/I][/B]

Just a quick check. Apparently CCM Group has its HQ at Menara PNB.
http://www.ccm.com.my/contact.asp

Look at the companies. I think they really need a new HQ. PNB could be in need of more space for expansion?????

[Winehouse]

that's the problem though with most average malaysian mentality because most can't separate what is private money and public money but at the same it's hard to blame them as well when goverment is so heavy handed in economy . Can you i imagine in US folks will do facebook page like 1m against Fidelity bla bla hahah or here in UK 1m against legal&general bla bla .Eventhough the UK is in massive mess but the thought of me coming back to kl and deal with this kind of mentality and attitude is major turn off.

[TWK90]

Originally Posted by cattivo

Malaysians are ignorant, love hear-say & subsidies too much until couldn't think & do research before comment.

Critique is one thing, and i do agree with critiques. However, it is also important for people to read more news and do more research before even commenting.

[cattivo]

Originally Posted by project aliciel

I propose government to scrap this project because of high costs. Those funds should use to complete that SHITTY LEFTOVER OF MAHATHIR GOVT PLAZA RAKYAT. That's an eyesore. The site of Menara Warisan (called Chin Woo Hill when i'm a child), should be reopened as community park.

My reasons:
1. Plaza Rakyat is already there, Menara Warisan is still not decided. Plaza Rakyat should given higher priority.
2. Green space is needed in City Center.
3. If green space is not needed and Menara Warisan is a project should be done, finish the Plaza Rakyat first, community park reopening as temporary solution: better than locking up the space for decades but no use at all.

dude, are you lost? go to political forum and say that. typical blind basher. wanna bash also don't know where. no wonder our country is moving backward.

[jani13]

Everyone should relax.. Tak payah nak marah-marah.. This is why we are not civilized. Sure everyone got their own opinions but voice it in a proper manner la.

Like this is what they say the pot calling the kettle black.

[cattivo]

Originally Posted by daeng_jal

ye lor, malaysan seems to hate everythng ssc member like..haha
not just tall building,but mrt,hghway n railway..its seems they like suburbia

a casino in Kl is a good idea,but not here lah, very insensitive lah.. but marina bay sand like building without the casino can kot, with both stadium serve as entertainment and event centre,couple with a massive mall with even bigger convention facilities

they only want shopping malls where they could waste time/money.

pity Msians, ignorant about the development needed for growth.

[cattivo]

Originally Posted by jani13

Everyone should relax.. Tak payah nak marah-marah.. This is why we are not civilized. Sure everyone got their own opinions but voice it in a proper manner la.

Like this is what they say the pot calling the kettle black.

i know, but political opinion should just get off from here.

the forum title here is "SKYSCRAPERCITY"... not "POLITICITY"

[TWK90]

Originally Posted by cattivo

dude, are you lost? go to political forum and say that. typical blind basher. wanna bash also don't know where. no wonder our country is moving backward.

I do agree that Plaza Rakyat should be given priority, because the foundation is there, hence it is easier. It also has been abandoned for many years, so starting it again is more feasible. It also has existing LRT station. In many ways, they should consider to start Plaza Rakyat again.

Puduraya is also undergoing refurbishment project.

So, if we combine Plaza Rakyat + Puduraya, you get the synergy and also, complete it because it has been sitting there, without any sight for construction for more than 10 years.

This is my opinion though.

[ashraf abdullah]

these people better off from Malaysian & stay in Afghanistan.[/QUOTE]

i actually love malaysia but the malaysian that have simple minded mentality make me sick sometimes.
yerp..the money is better used in a right channel.and it is right channel.
about poverty in malaysia?i never see a MALAYSIAN street beggars asking for money in the middle of the highway as you would see in several asean country.

my mother's neighbour in the country got free house and land by government and the children got annual scholarship RM600 and the parents also have monthly allocation from welfare ministry under single parent programmes.they are practically not working!

please malaysian,,don't be that silly to reject everything.
no wonder DrM said he had failed to change the malaysian.
oh my!

[XNeo]

Originally Posted by TWK90

I do agree that Plaza Rakyat should be given priority, because the foundation is there, hence it is easier. It also has been abandoned for many years, so starting it again is more feasible. It also has existing LRT station. In many ways, they should consider to start Plaza Rakyat again.

i guess its nothing to do with PNB...am i right.

for me..i dont want others ppl left over.dont want to get into uncovered issues, etc.

[cattivo]

Originally Posted by XNeo

i guess its nothing to do with PNB...am i right.

for me..i dont want others ppl left over.dont want to get into uncovered issues, etc.

agree, Plaza Rakyat is a mess. It's not easy to revive someone mess (especially from TPK). If it's easy, sure few companies will fight to revive it.

[cattivo]

Originally Posted by TWK90

I do agree that Plaza Rakyat should be given priority, because the foundation is there, hence it is easier. It also has been abandoned for many years, so starting it again is more feasible. It also has existing LRT station. In many ways, they should consider to start Plaza Rakyat again.

Puduraya is also undergoing refurbishment project.

So, if we combine Plaza Rakyat + Puduraya, you get the synergy and also, complete it because it has been sitting there, without any sight for construction for more than 10 years.

This is my opinion though.

Easier??

bro, Plaza Rakyat is a mess (TPK mess is not easy to clean). I bet any developer wouldn't want to be in a mess by taking over a really super mess of Plaza Rakyat.

If you've a development company, you will understand that. Looks easy with the existing foundation & structure but to get the project grow with current climate, that's a big tough challenge. If easy, hundred of companies will come and get Plaza Rakyat up already.

[nazrey]

Originally Posted by pedang

PNB won’t use money from investors or Govt
http://thestar.com.my/news/story.asp...499&sec=nation

KUALA LUMPUR: Permodalan Nasional Berhad (PNB) will not use funds from unit trust investors or the Government to develop the Warisan Merdeka project which will incorporate a 100-storey building.

Its chief executive officer and president Tan Sri Hamad Kama Piah Che Othman said PNB, was also a big holding company with interests in several listed companies like Sime Darby, UMW and Island & Peninsular, besides being a unit trust manager for various government funds.

“We have more than enough money to finance the entire RM5bil project on our own if need be,” he told a special briefing for media editors here yesterday.

It was the first response from PNB following Prime Minister Datuk Seri Najib Tun Razak’s Bu–dget announcement on Friday of the Warisan Merdeka project which sparked off a debate on its necessity.

The integrated development project will be located within the enclave of Stadium Merdeka and Stadium Negara and comprise three phases to be fully completed by 2020.

Hamad Kama Piah explained that PNB had purchased the 13ha plot from Danaharta Nasional Bhd for RM320mil in 2000 and the mixed development project was approved by the PNB board four years later.

He said PNB had studied market trends before deciding to embark on the project, adding that construction of the 100-storey tower would begin sometime next year.

PNB to start 10-year Warisan Merdeka project with 100-storey tower
By ANGIE NG Thursday October 21, 2010
http://biz.thestar.com.my/news/story...1&sec=business



Tan Sri Hamad Kama Piah Che Othman pointing to the site of Warisan
Merdeka development during the press conference pn Wednesday.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) will be undertaking the Warisan Merdeka development over three phases in 10 years starting with the 100-storey tower next year.

At a press conference yesterday to explain PNB’s plans for the project, president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the development costing RM5bil would also have a shopping complex and condominiums.

The 100-storey tower – touted to be the country’s tallest – will cost RM2.5bil to RM3bil and will have gross floor space of 3 million sq ft and 2.2 million sq ft of net floor space .

“It will be a five-star green building. We are confident its completion in 2015 will create some excitement and spill-over benefits for the development as a whole,” Hamad added.

PNB has set up wholly-owned unit PNB Merdeka Ventures Sdn Bhd to undertake the project. The company is headed by Tengku Abdul Aziz Tengku Mahmud who was from Guthrie Property Development Holding Bhd and Sime Darby Property Bhd. He came on board early this year.

“We are now finalising the project design and concept, and may invite professionals, both local and foreign, to submit their ideas for the project.

“PNB’s existing headquarters, Menara PNB will be 30 years old by the time the new tower is completed. We are looking for strategic positioning for the future and will need new office space for the expanding PNB group of companies. The Warisan Merdeka tower will become the new PNB headquarters while Menara PNB will be upgraded and leased out for recurring income,” Hamad added.

He said PNB had the capability to finance the project through internally generated funds but he did not discount resorting to borrowings “if the interest rates are attractive.”

On the rationale for PNB’s decision to undertake the project, Hamad explained: “We have been planning to develop the land since 2004 after acquiring it in 2000. After holding the land for so long, we decided it is now the right time to move ahead with the project. As an investment house, our intention is to optimise returns from the development.”

He said the project was expected to yield reasonable returns of between 8% and 10%.

“For the past few years, we have revisited the plan every year. Now with Tengku Abdul Aziz helming PNB Merdeka Ventures, we are more focused on the project and are ready to move ahead with it. The Government is also promoting this type of development.”

PNB paid RM310mil or RM220 per sq ft to buy the 36-acre land from Pengurusan Danaharta Nasional Bhd in 2000. Hamad said the market value of the land was estimated at RM800 per sq ft today.

Of the 36 acres, around 17 acres are occupied by Stadium Merdeka and Stadium Negara, which have been identified as a national heritage site. Conservation works have been undertaken to restore their heritage characteristics and the two stadiums are now being managed by the National Heritage Trust.

The overall Warisan Merdeka development on 19 acres would have to complement and blend with the heritage theme, and together with the restored stadiums, the site was set to be another major landmark in Kuala Lumpur, he said.

Hamad said although the project was scheduled to take 10 years, it may be expedited if market conditions warranted it.

“As a long-term player, we would prefer to own the Warisan Merdeka property and leased it out for recurring profit but we may also consider unlocking the value if the situation warrants it.”

He said PNB had been expanding its portfolio of property assets from mainly investing in equities previously. It had been purchasing commercial properties that offered competitive returns and potential for capital appreciation at reasonable prices.

Today, its property portfolio includes Menara PNB, PNB Darby Park, Kenanga International Building, Bangunan MAS in Kuala Lumpur, Hotel Perdana in Kota Baru and PNB Ilham Resort in Port Dickson. Its first offshore property, Santos Place in Brisbane, Australia, a six-star Green Star building, was acquired in August for A$287mil.

Hamad said PNB was also active in property development through its strategic holdings in a number of companies, including the merged entity of Island & Peninsular Bhd, Petaling Garden Bhd and Pelangi Bhd.

[XNeo]

PNB- Permodalan Nasional Berhad..
i think malaysian confused with their name - 'Nasional'...its sounded - fully owned by goverment.
thats why some malaysian protest. like their money byr tax going to waste heh heh heh

do join ssc membership sini. mcm2 info adaaa.

[nazrey]

Projek ni tak mampu keep it low profile laaa...now they should introduce the design asap!