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Old June 19th, 2008, 04:19 AM   #41
rizalhakim
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PLUS eyes more overseas highway jobs
By Zuraimi Abdullah Published: 2008/06/19

There are tremendous opportunities in India and Indonesia, says PLUS Expressways managing director


PLUS Expressways Bhd will focus on getting more highway jobs abroad, particularly in India and Indonesia, as domestic opportunities dwindle, its top executives say.

They said the government's plan to spend on projects that benefit the masses more amid tough economic conditions means that the prospects for new highways in the country "will be quite minimal".

Managing director Noorizah Abdul Hamid said there are tremendous opportunities in India and Indonesia. Already, PLUS has toll concessions and highway construction contracts in the two countries.

India has planned to add another 1,500km to its highway network, while Indonesia wants to put up an extra 1,000km.



"The tender for the Indian job will be called out by this year," Noorizah told reporters after PLUS' annual general meeting in Kuala Lumpur yesterday.

She said PLUS is also keen to offer its services in highway maintenance, both locally and abroad.

PLUS' toll rates are scheduled for a raise by 10 per cent once every three years based on the revamped concession agreement sealed in January 2002.

The first three years expired in 2004, meaning that the new rates for the subsequent three years were effective from 2005 and 2008.

Noorizah said the current new rates would have been implemented from January this year, if not for a deferment following the government's decision to review all highway concessions.

The company has since been partially compensated by the government for not charging the new toll rates on its highways, including the North-South Expressway.

"We have yet to engage in official talks on the toll revision, but we have been providing the information requested by the government," she said.

PLUS' chairman Tan Sri Mohd Sheriff Mohd Kassim said it is still early to estimate the impact of the recent fuel hikes on the traffic at PLUS highways, but generally a slowdown can be expected in the interim.

He added that during the previous increase in 2005, the traffic decreased, with the downtrend lasting for about six months before demand stabilised once the public finally got a grip with the reality.

"Last year, our traffic grew 7.5 per cent, the highest year-on-year growth since 2001.

"The figures for January also showed strong growth," Sheriff said.
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Old June 19th, 2008, 06:40 AM   #42
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Quote:
Originally Posted by oboi_1 View Post
The much awaited rendering...

Projected date of opening is on February 2010.



I'm not impressed with it's design though.
Quote:
Originally Posted by venntro View Post
Malaysian firm invests P750M for hotel dev't in RP
http://www.abs-cbnnews.com/storypage...StoryId=100567


IGB Corp., a Malaysia-based player in the global hospitality business on Tuesday said, it is investing P750 million for the development of a business class hotel in Makati City.

The 29-storey structure, which will be called St. Giles Hotel Makati, will have 415 rooms.

This development marks the company’s first venture in the Philippines.

“We went here because we want to participate in the growth potential of the Philippines’ tourism industry. Construction will start in January 2008,” said Chua Seng Yong, president of IGB Corp.

Once completed on December 2009, IGB Corp. said it will scout for other potential hotel development sites in the country.
yuck!!
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Old June 20th, 2008, 07:02 AM   #43
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Oilcorp subsidiary eyes RM1.5b Middle East fabrication jobs
by Sharmila Ganapathy, 19 Jun 2008 2:36 PM
THEEDGEDAILY

PULAU INDAH: Oilcorp Bhd’s 51%-owned subsidiary Oilfab Sdn Bhd is eyeing RM1.5 billion worth of fabrication projects expected to come out of the Middle East over the next three to five years, a company official said.

Oilfab general manager Aminuddin Abdul Rahman told reporters following a tour of the company’s fabrication yard here yesterday that the company was ‘seriously marketing’ its services to Middle Eastern countries for these projects. The projects, he said, entail fabrication for offshore structures.

“We have been marketing ourselves to Middle Eastern countries such as to Saudi Arabia, UAE and Qatar,” he said, adding that Oilfab’s parent Oilcorp had already some experience in the Middle East under its belt, having worked with Qatar Petroleum on a prior project.

Aminuddin added that Oilfab hoped to be awarded an offshore fabrication contract worth as much as RM60 million from a local oil and gas player by year-end.

Sharing an update on the company’s RM290 million contract from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC), Aminuddin said that the four-wellhead platforms would be completed by September this year.





He said that to date, Oilfab had completed a total RM200 million of fabrication projects, which includes the 70% completed portion of the CPOC project. The company’s order book to date he said, was RM250 million.

The awarding of the CPOC contract to Oilfab last August raised eyebrows due to the somewhat ‘controversial’ nature of the project itself. The company was awarded the engineering, procurement, construction and commissioning (EPCC) of four-wellhead platforms for Block B-17 of the Malaysia-Thailand Joint Development Area off the Kelantan coast.

Last February, CPOC had awarded a similar contract to Ramunia Holding’s Bhd wholly owned subsidiary Ramunia International Services Ltd. The RM308 million contract entailed the provision of EPCC services for four-wellhead platforms and their jackets, as well as the fabrication of the central processing platform jacket for Block B-17.

Ramunia had subsequently filed an injunction against the CPOC from re-opening the contract for tender. The injunction was eventually lifted.

CPOC operates gas fields in the joint development area, the company is a joint venture between Petronas Carigali JDA Ltd and Thailand’s PTTEPI.

Oilfab and Ramunia are two of Petronas’ six licensed fabricators. The others are Brooke Dockyard & Engineering Works Corp, Kencana HL Engineering Sdn Bhd, Malaysian Marine Heavy Engineering Sdn Bhd and Sime Darby Engineering Sdn Bhd.
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Old June 20th, 2008, 07:03 AM   #44
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PLUS intensifies efforts abroad
by Joyce Goh, 19 Jun 2008 12:08 PM
THEEDGEDAILY

KUALA LUMPUR: PLUS Expressways Bhd is intensifying its efforts abroad and is currently in the midst of bidding for projects in India and Indonesia.

“We are diversifying into other countries such as India and Indonesia. We have not specifically identified any other country.

“In future, we may also be looking at another country where there are good opportunities. The emerging markets in the East Asian region are developing very fast and certainly they will be looking towards opportunities to expand their road infrastructure,” said PLUS chairman Tan Sri Mohd Sheriff Mohd Kassim.

PLUS managing director Noorizah Abd Hamid said the focus would be in India and Indonesia with the redeployment of its resources in the two countries.

She pointed out that in India, the government was looking at about 1,500km of highways to be tendered out this year. “Even in Indonesia, the government has big plans in trying to develop the Transjava expressway and that alone is over 1,000km and we are not talking about other areas yet,” she told reporters after PLUS’ AGM here yesterday.

“As far as we are concerned we have certain guidelines that we follow when we bid for international projects. For example, whether it’s greenfield or brownfield projects, or whether it’s in India or Indonesia, we have different internal rate of return (IRR) targets.

“For India, our target is in the mid-teens and Indonesia is in the high-teens,” she said, adding that PLUS was stepping up its efforts abroad since opportunities for new highways domestically were scarce. PLUS ventured overseas in 2006 and expects to see revenue contribution in the first half of next year.

On whether there would be a cut in toll rates, Noorizah said PLUS had yet to have any formal discussions with the government on the matter.
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Old June 20th, 2008, 07:04 AM   #45
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Mudajaya eyes three more IPPs in India
by Joyce Goh, 19 Jun 2008 2:24 PM
THEEDGEDAILY

KUALA LUMPUR: Construction company Mudajaya Group Bhd is eyeing another three more independent power producer (IPP) projects in India, out of which they have been pre-qualified for two.

“We have submitted pre-qualification proposals for three IPP projects in India. Two have been approved so we are waiting for the tender process for those… and the third one is under review for qualification,” said Mudajaya managing director Ng Ying Loong.

“Out of the two that have been given the approval to participate in the bidding process, one is a 500 megawatt (MW) plant. The other is 1,000MW. The remaining one under review is a project close to 1,000MW,” he added.

Ng explained that in order to bid for IPP jobs in India, the company has to be pre-qualified. “You go through a qualification exercise. For those who are qualified, they will be called to bid,” he said.

Speaking to reporters after Mudajaya’s AGM here yesterday, Ng said Mudajaya is gearing more towards the IPP business, and in three to four years’ time, that segment may contribute a higher revenue to the group compared to its construction business.

Mudajaya’s first foray into the capital intensive power sector was in September 2006 when it signed a power purchase agreement (PPA) with Chhattisgarh State Electricity Board for 20 years. The company expects to start commercial operations in 2011.

According to Ng, the capital expenditure for one 500MW project is in the region of RM1.7 billion and double the amount for a 1,000MW project.

“The next couple of years, we are taking our profits to reinvest because the IPP business requires capital. So we are maintaining our dividend level and when the cash flow improves after we start selling, there’ll be a change in policy to increase the dividend,” he said.

On Mudajaya’s current order book, the company’s executive director Anto Joseph said it currently stood at RM3.8 billion.

“We are very selective in our projects. At the moment there is RM3.8 billion worth of jobs and we are looking at additional RM2 billion to come in by the first quarter of 2009. The bulk of these (additional jobs) are from overseas and they are mostly IPP projects,” he said adding that the company is also looking at some projects in the Middle East but it was still at a very early stage.

Ng pointed out that the company is looking to increase its overseas participation. “Locally, growth is quite limited. The scope is not so large,” he said.

Just last month, Mudajaya entered into a memorandum of understanding (MoU) with PT Permata Kaltim (PK) to engage in a 4x65MW IPP project located in Kota Samarinda, Indonesia.
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Old June 20th, 2008, 07:04 AM   #46
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YTL ventures into China
19 Jun 2008 12:06 PM
THEEDGEDAILY

KUALA LUMPUR: YTL Corporation Bhd is venturing into China via a strategic tie-up with Asia Environment Holdings Ltd (AEH) to collaborate in the fast-growing and lucrative water industry.

In a statement, YTL said the two companies had entered into an agreement yesterday to draw on the group’s water expertise, branding and financial strength and AEH’s local knowledge and proven execution skills in China.

AEH, which is listed on the Main Board of the Singapore Stock Exchange, provides water and wastewater treatment solutions, manufactures, fabricates, sells and installs generic and customised equipment for water and wastewater treatment systems.

AEH has also undertaken build-operate-transfer (BOT) water projects in China and is expected to operate 11 BOT projects by the end of 2008.

YTL said the collaboration would create a formidable force in the Chinese water industry, which is expected to see investments of RMB1 trillion (RM470 billion) from 2006-2010, according to the Ministry of Construction in China.

YTL said in the framework agreement, its subsidiary Wessex Water Sdn Bhd would enter into an exclusive technical agreement with AEH to provide technical advisory and consultancy services to AEH on an exclusive basis in China.

It said Wessex Water would be able to draw upon the extensive experience of its UK affiliate in managing water supply and sewerage in parts of south-west and southern England.

YTL said AEH had agreed to give YTL a first right of refusal to collaborate in all future water-related projects, including equipment manufacture, design, EPC and BOTs in China.

It said it had been estimated that two-thirds of China’s water resources were polluted, a problem exacerbated by low water resources per capita and high water leakages amounting to 28%.

YTL said the Chinese government was putting a greater emphasis on improving water standards in China and had encouraged higher water tariffs as a means of attracting much needed investments in the Chinese water industry.

“This is the right time to be entering the China water market. We will be able to leverage our expertise and Asia Environment’s strong China presence in this mutually beneficial alliance,” said YTL chief executive officer Tan Sri Francis Yeoh.
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Old June 20th, 2008, 07:14 AM   #47
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TM Intl to spend US$150m in Cambodia
Published: 2008/06/20
Via BusinessTimes

TM International Bhd, Malaysia's second-biggest mobile-phone operator, plans to spend US$150 million over two years to upgrade its wireless network in Cambodia.

This "will give the company a wider coverage area and higher quality network" in Cambodia, chief executive officer Jamaludin Ibrahim said in an e-mail yesterday.

TM also plans to roll out high-speed mobile services in Cambodia by the end of the year, Jamaludin said.

TM, which offers wireless services to 40 million customers in 10 Asian markets including India and Bangladesh, has been expanding overseas to help sustain earnings growth and counter increasing competition at home in Malaysia. - Bloomberg
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Old June 21st, 2008, 11:16 AM   #48
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Bintai lands RM290m Sentosa job
20 Jun 2008 1:45 PM
THEEDGEDAILY

PETALING JAYA: Electrical and mechanical engineering services specialist Bintai Kinden Corporation Bhd has clinched sub-contract works valued at about RM290 million from Resorts World At Sentosa Pte Ltd, the company said.

In a statement yesterday, Bintai said the works, secured by its 79.82% subsidiary Bintai Kindenko Pte Ltd, were expected to be completed by the last quarter of 2009.

It said the sub-contract was for the supply, delivery, installation, testing and commissioning and maintenance of air-conditioning and mechanical ventilation installation, electrical installation and fire protection installation.

Resorts World at Sentosa is wholly owned by Singapore-listed Genting International, which is developing a casino resort on Sentosa Island. The resort is due to open in early 2010.
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Old June 21st, 2008, 11:22 AM   #49
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Loh&Loh, partners to build Laos hydropower plant
Published: 2008/06/21

LOH & Loh Corp Bhd (LCCB) and partners Rohas-Euco Industries Bhd (REI) have signed a project development agreement (PDA) with the Laos government to develop and operate the Nam Sane 3 hydropower plant.

The proposed power plant will have a capacity of between 300 and 350 GWh annually. The electricity produced will be sold to the Laos government.

Under the agreement, REI has the exclusive right to negotiate the terms and conditions of the project, including a 30-year concession agreement with the Laos government.

Commercial production is set for 2014, LLCB said in a statement yesterday.

LLCB, REI and SMHB Engineering Sdn Bhd had on June 13 signed a memorandum of understanding to collaborate and combine their respective resources to secure, develop and operate hydropower stations.

A special purpose company will be incorporated in Laos to build, own and operate the project which will be handed back to the Laos government after the concession period. — Bernama
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Old June 23rd, 2008, 06:00 AM   #50
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Ben Rautin eyes more China projects
By Kamarul Yunus Published: 2008/06/23



BEN Rautin Sdn Bhd, a global trading firm is set to strengthen its foothold in China, eyeing for projects in the petrochemical, residential and tourism-related industries, with a combined projected investment of US$7 billion (RM22.75 billion) in Beihai City.

Its founder and managing director Ismail Rautin Ibrahim said the company has been approached by the Beihai City Foreign Investment Services Bureau to spearhead the development of the three potential industries in the city, which is located in the Guangxi province.

"The bureau sent an invitation letter to me on May 9, seeking the company's 30 years experience in China to participate in the development of the three industries in Beihai.

"They want the group to spearhead a group of international and local companies to help develop the three industries in the city," he told Business Times in Kuala Lumpur.

Ismail said he went on May 12 to explore the potential areas for the mammoth projects in Beihai, the second largest city in Guangxi after Nanning.

"It was originally intended to be an exploratory and investigative mission to seek the potential of the projects but it turned out to be a confirmed participation on our part.

"Both the group and the bureau are currently drafting a memorandum of understanding (MoU) to develop the areas into a petrochemical hub, mini city and tourism destination in Beihai.

"We hope to sign the MoU by July before the starting of the Olympics Games slated for August," he said.

Ismail said Ben Rautin could not tackle all the projects by itself, and is looking for partners to develop the petrochemical, residential and tourism areas in Beihai.

He indicated that the company may tie up with a Qatar company for the petrochemical portion, and with a Taiwanese property developer for the residential area.


Ben Rautin entered China's market in 1977, initially for trading activities. Its earlier major project included the construction of residential and commercial properties in Guizhou province in 1990s.

On the company's other projects in China, Ismail said they are still progressing but need time to settle various issues, including land matters.

It was reported that Ben Rautin has a working interest in the development of a petrochemical complex and port projects in Lufeng City. The initial cost of these projects in Lufeng City amounted to about US$7 billion.

Ben Rautin was also offered a stake to participate in the US$6.1 billion (RM19.83 billion) hydropower project along the Amoijiang river in southern China. Singapore-based Penstone Power Ltd, one of the three companies that secured the hydropower deal, has invited Ben Rautin to participate in the project.
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Old June 23rd, 2008, 07:20 AM   #51
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seems that we mix up Developers and Contractors in this thread...
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Old June 24th, 2008, 04:19 AM   #52
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its not a problem as long we can prove the malaysia boleh spirit.....or maybe the mod can change the topic to Overseas Projects by Malaysian Developers/Contractors...

Pembinaan SPK bags RM2.3b job
Published: 2008/06/24


SPK-SENTOSA Corporation Bhd said Aldar Properties PJSC has accepted Pembinaan SPK Sdn Bhd's proposal for the construction of 2,080 villas in the Al Falah Community Development of Abu Dhabi, subject to the execution of the contract document, finalisation of contract price terms and conditions.

The total contract value of the project is about RM2.36 billion.

Work is expected to commence in September 2008 and will be completed within 36 months.

SPK-Sentosa lands RM2.36b contract
by Yantoultra Ngui Yichen
Email us your feedback at [email protected]


KUALA LUMPUR: SPK-Sentosa Corp Bhd has landed a RM2.36 billion project to build 2,080 villas in the Al Falah Community Development in Abu Dhabi, United Arab Emirates.

The company said ALDAR Properties PJSC, a locally listed property firm, had accepted its wholly owned Pembinaan SPK Sdn Bhd’ proposal for the Al Falah project.

The project was slated to commence in September 2008 and complete 36 months later and was expected to contribute positively to SPK-Sentosa’s earnings for the fiscal year ending Dec 31, 2008, the company told Bursa Malaysia yesterday.

It said the project would be funded via internally generated funds and bank borrowings. As at March 31, 2008, its cash and cash equivalents stood at RM101.55 million, while its short-term bank borrowings was RM21.33 million.

SPK-Sentosa slipped into the red with a net loss of RM1.54 million in its first quarter ended March 31, 2008 due to additional costs incurred by its construction division arising from finalisation of accounts for certain projects.

The Al Falah project is believed to be the company’s biggest contract so far and could bode well for the company’s long-term earnings.

SPK-Sentosa, via a 70:30 joint venture with Bina Puri Holdings Bhd, had in May 2007 secured its first overseas contract from Al Tamouh Investments LLC to design and construct Phase 1 Plot 1 Zone B residential, commercial and recreational development in Al Reem Island, Abu Dhabi, UAE.

The project, worth an estimated RM427 million, was expected to increase its net assets by five sen per share for FY07 and 19 sen upon the project’s completion in FY09.

ALDAR has a market capitalisation of some US$29 billion (RM95.7 billion).

Shares of SPK closed 0.5 sen or 0.83% higher at 60.5 sen yesterday with a total of 40,500 shares changing hands. The counter reached its 52-week high of RM1.25 on July 10, 2007 while its low was 48 sen on April 4, 2008.

Last edited by rizalhakim; June 24th, 2008 at 09:33 AM.
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Old June 24th, 2008, 04:23 AM   #53
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Gamuda and WCT eye RM1b job
By IZWAN IDRIS


DOHA: Local construction firms Gamuda Bhd and WCT Engineering Bhd, which have a strong partnership in the Middle East, are confident that they will be able to jointly secure a new highway project worth at least RM1bil in Qatar this year.

Company officials based in the Gulf state said the tender for phase two of the Dukhan highway was expected to open as early as next month, as the first phase of the project nears completion.

“We believe we are in a good position to get the contract as this is actually an extension to the current highway project that we are doing, which is almost 90% completed,'' general manager for the Dukhan highway project S.D. Boon told visiting Malaysian reporters in Doha last week.

He said the Gamuda-WCT joint venture (JV) was already pre-qualified for the tender, and was likely to be called in to submit its bid soon.

The JV is the contractor for the 43km four-lane dual carriageway linking the industrial area in Dukhan to Shahaniya. The contract was awarded in July 2005 for 750 million Qatar riyals or RM784mil at the time.

Boon said the second phase of the highway would probably cost more to construct, partly due to higher material cost.

Gamuda has a 51% stake in the JV, while WCT owns 49%.

Shahaniya is located midway between Dukhan on the west coast and the capital city Doha on the east coast of the peninsula.

Qatar's public works authority is planning to upgrade the road link between the country's thriving financial centre in Doha and the fast growing oil and gas industrial area in Dukhan.

Apart from the Dukhan highway, Gamuda and WCT are partners in a consortium led by China’s Sinohydro Corp Ltd for engineering works being done at the New Doha International Airport (NDIA).

The completion date for the NDIA contract has been pushed back to 2010 to make way for additional works that had bumped up the original contract value awarded to the consortium from RM1.8bil to RM2.8bil currently.

Individually, the two companies are also involved in several infrastructure development projects in the region. Both had excellent track records there, analysts said.

A new job secured in the Middle East – where margins are typically higher compared with local projects – would help shore up sentiment on Gamuda and WCT.

Shares in Gamuda fell 6 sen yesterday to RM2.13 – its lowest level since November 2006. Meanwhile, WCT's share price hit a one-year low of RM2.89 last Friday. The stock was down 2 sen at RM2.95 yesterday.
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Old June 25th, 2008, 07:23 AM   #54
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Old June 25th, 2008, 09:26 AM   #55
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Tropicana Residences @ Hyderabad, India by Dijaya Group


This master plan has been designed to follow the principals of Vaastu Shastra; a traditional Hindu rules of town planning and architecture. Vaastu Shastra deals with various aspects of designing and building living environments that are in harmony with the physical and metaphysical forces. Building practices based on these interpretations are still being practiced in parts of India. Vaastu is conceptually similar to Feng Shui, where the balance flow of energy is of utmost important.

The entire site will be equipped with CCTV monitors, 24-hour security coverage and a centralised guard house located at the entrance of the site. Parking lots are strategically positioned in the cellar level so that the ground floor can be used for recreation only.



Following the success of Tropicana clubhouse, Tropicana Residences will also has its very own 68,000 sq ft recreation club with scenic views of landscaped gardens. The clubhouse will offer various amenities and facilities such as:-

• Olympic-size swimming pool
• Formal function hall that caters for 500 persons
• Formal restaurant overlooking the gardens
• Shaded terrace café overlooking the main pool
• Mini market, beauty parlour and shops
• Learning centre and library
• Games room and multi-purpose sports hall
• Members’ club room and terrace overlooking the gardens
• Fully-equipped gymnasium room
• Tennis and squash courts
• Indoor soccer court

Tropicana Residences is set to be the place to live in a truly tropical resort setting with a lifestyle of relaxation and security. Register now to enjoy exclusive early bird bonuses.
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Old June 30th, 2008, 03:48 AM   #56
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DTZ: Opportunities aplenty in China
By Jeeva Arulampalam Published: 2008/06/09


Malaysian developers can look at growing the hospitality and entertainment market in China



CHINA's real estate market holds ample opportunity for property developers and individual investors looking to diversify their investment portfolio, said global property consultancy DTZ.

"In China, the retail market is one of the fastest growing markets and has seen successful foreign retailers such as the Parkson group enter the market," said DTZ's mainland China chief executive officer Edward K.C. Cheung in an interview with Business Times.

Malaysian developers can also look at growing the hospitality and entertainment market in China.

"The Chinese developers are not as experienced in developing resorts like those found in Malaysia. We are looking at resort destinations such as Langkawi to be brought to Hainan," he added.



Cheung said there was also room for the development of entertainment facilities such as theme parks in China.

Recently, Malaysia's Lion Group founder Tan Sri William Cheng tied up with business partners to invest 17 billion yuan (RM7.74 billion) in a film studio and theme park in China's Yunnan province.

Brian Koh, executive director of investment for DTZ Nawawi Tie Leung Property Consultants Sdn Bhd, said local developers can derive as much as 30 per cent of their revenue from offshore projects.

DTZ, which operates across Europe, the Middle East, Africa, Asia Pacific and the Americas, will focus on growing its Chinese business.

It aims to double its number of offices to 30 within 10 years, said DTZ's North Asia chairman David C Watt.

Aside from China, Watt said, the consultancy will concentrate on growing its business in India for the next five years.

"No doubt that these two markets will be the top four markets of the world in terms of pure economic size," he said.

The firm, which is involved in leasing, property management, valuation and investment, said it will enter new markets such as South Korea and Vietnam.

DTZ, which provides consultancy for residential, office, retail, hotel and industrial segments, doubles its revenue every five years.

"Our revenue (derived from consultancy fees) globally is just over US$1 billion (RM3.26 billion) annually," said Watt.
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Old July 1st, 2008, 03:54 AM   #57
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Sunway enters China property scene
Published: 2008/07/01


SUNWAY Holdings Bhd is to undertake a resort-style development in Jiangyin with a potential gross development value of RM473 million, its first property venture in China.

The project will be developed with Shanghai Guang Hao Real Estate Development Group Co Ltd through a joint venture called Jiangyin Guang Hao Real Estate Development Co Ltd.

Sunway, through Hong Kong-incorporated Sunway Real Estate (China) Ltd, will own 65 per cent, or 130 million shares, of the joint venture.

"This is expected to be the pioneering project for Sunway to secure future possible property projects in China," it said in an announcement to Bursa Malaysia yesterday.



Jiangyin Guanghao's registered capital is being increased to 200 million shares of one renminbi each, from 70 million shares of one renminbi each.

Sunway Real Estate sealed a master agreement and an equity joint-venture pact with Shanghai Guanghao last Friday.

Sunway said wholly-owned SunwayMas Sdn Bhd owns 60 per cent of Sunway Real Estate. The balance 40 per cent is held by Sunway City Bhd.

Sunway said the project is located inside the central business district of the Jiangyin New Harbour City, a new Jiangyin Government administration centre.

"The project seeks to be differentiated by introducing ultra-modern resort-style living design concepts and international quality standards with a well-planned premium product," it added.

A feasibility study on the project was conducted with Shanghai Guanghao and Suncity prior to the signing of the agreements, Sunway said.
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Old July 1st, 2008, 04:06 AM   #58
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LBS to diversify into industrial property


It aims to overcome softer residential property market

PETALING JAYA: LBS Bina Group Bhd plans to diversify into industrial property development in Puchong to overcome a softer residential property market this year.

Group managing director Datuk Lim Hock San said demand was still intact for industrial properties and the Puchong project, with an initial gross development value of RM100mil, would take two years to complete.

“We plan to launch 50 semi-detached factories in Puchong. It (each factory) would have a land area of about 7,500 sq ft and built-up area of 4,000 sq ft,” he said after the company AGM yesterday.

In the past two years, he said LBS had reined in its property launches as the surge in raw material prices had affected construction costs.

“We are lucky we did not launch so many projects,” Lim said, adding that LBS planned to sell some of its land and focus on the Klang Valley property projects on a small-scale only.

This year, LBS would continue to be cautious due to soaring raw material prices while contractors were seeking price revisions, he said. For instance, LBS had decided to hold back the commercial shops launch in Bandar Saujana Putra, but this would be reviewed in one to two months.

However, Lim was upbeat on its China property development project, via recently acquired Lamdeal Golf and Country Club Ltd (HK), which owns and operates the Lakewood Golf Club in Zuhai, China.

“We are planning to have a hotel at the golf resort,” he said.


LBS was also exploring a plan to venture into agriculture exports even though the returns might not be that high compared with property development. Lim did not provide details.

While Lim described the current property market as “matured”, he expected it to be boosted by the Government's planned spending following the Ninth Malaysian Plan's mid-term review.
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Old July 1st, 2008, 09:09 AM   #59
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Jeffrey Cheah enters China’s property market
by Joyce Goh
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PETALING JAYA: Sunway Holdings Bhd is tying up with its sister company Sunway City Bhd (SunCity) to tap into China’s property market.

The two companies, which are controlled by Tan Sri Jeffrey Cheah, have entered into a shareholder agreement to form a joint venture called Sunway Real Estate (China) Ltd as a vehicle to enter the Chinese property market.

In a statement to Bursa Malaysia, SunCity said it would hold a 60% stake in Sunway Real Estate, while Sunway Holding own the remaining 40% via its wholly owned subsidiary would SunwayMas Sdn Bhd.

The statement said Sunway Real Estate would jointly develop a property project that had an estimate gross development value of one billion renminbi (RM473 million) with the Chinese partner — Shanghai Guang Hao Real Estate Development Group Co Ltd (Shanghai Guanghao).

Under the partnership, Sunway Real Estate is taking a 65% equity interest in Jiangyin Guang Hao Real Estate Development Co Ltd, which will undertake the mega mix development project in Jiangyin, China.

Jiangyin Guanghao’s paid up capital will increase to 200 million renminbi from 70 million renminbi to facilitate the partnership. Sunway Real Estate and Shanghai Guanghao will hold 130 million shares and 70 million shares in Jiangyin Guanghao respectively.

Both Sunway Holdings and SunCity said the investments in Sunway Real Estate for the share acquisition in Jiangyin Guanghao would be financed by internally generated funds.

According to SunCity, the project is located inside the Central Business District of the Jiangyin New Harbour City, a new Jiangyin Government administration centre that is expected to enjoy all the urban amenities in the coming years once the business district is fully completed.

“This will provide demand for residential and commercial properties. The project will also benefit from the continued growth of China’s economy, especially in the property development sector,” it said.

“The preliminary feasibility study of Jiangyin Guanghao features a high-rise mixed development complemented by integrated and high quality amenities,” it added.
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Old July 2nd, 2008, 04:13 AM   #60
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BLand: US$7.35b GDV for Vietnam project
By Zuraimi Abdullah Published: 2008/07/02




BERJAYA Land Bhd (BLand) says its planned integrated township project on 925ha in Ho Chi Minh City in Vietnam will boast a gross development value of US$7.35 billion (RM24.03 billion).

Based on the latest development plans, BLand said, the project would cost US$5.9 billion (RM19.29 billion).

The approved initial investment cost was US$3.5 billion (RM11.45 billion), the company said in a statement to Bursa Malaysia yesterday.

BLand announced yesterday that it had received the investment certificate from the licensing authority in Vietnam for the project.



BLand chief executive officer Datuk Francis Ng said the investment certificate is the fourth of seven projects planned by the company in Vietnam.

It had already received similar certificates for the US$1.9 billion (RM6.21 billion) Vietnam Financial Centre in Ho Chi Minh City, Bien Hoa City Square in Dong Nai province worth US$230 million (RM752 million) and Thach Ban New City in Hanoi worth US$500 million (RM1.64 billion).

The integrated township project will be developed and managed by BLand's wholly-owned Berjaya Leisure (Cayman) Ltd through Berjaya VIUT Ltd. Work should start next year and is due for completion in stages from 2011 to 2021.
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