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Old February 7th, 2013, 04:30 AM   #1
davidwsk
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SETIA ECO TEMPLER | Selangor (Templer Park, Rawang) | U/C

SP Setia inks RM1.24bil deal to jointly develop with KPS high-end properties in Templer Park
Posted on February 7, 2013 - Featured, Property News.



PETALING JAYA: SP Setia Bhd has signed on to develop RM1.24bil worth of high-end residential and commercial property on the site of the Perangsang Templer Golf Club in Templer Park in a joint-venture with Kumpulan Perangsang Selangor Bhd (KPS).

The developer said in a statement to the stock exchange that the partnership, executed via its subsidiary Rockbay Streams Sdn Bhd, was the outcome of a request for proposal from Cash Band (M) Bhd, a 99.98%-unit of KPS and the owner of three parcels of leasehold land measuring 194.65 acres on which the properties will be built.

Under the agreement, SP Setia’s role is to develop the land as well as market and sell the commercial and residential units, with Cash Band as the landowner.

It will pay Cash Band 16% of the gross sales value of the development or a minimum of RM200mil. In the event the project is subject to a provision for low-cost, medium low-cost or affordable housing, this amount will be reduced to 13% and RM140mil.

The yet-unnamed project has a development period of six years from vacant possession of the land. Completion is slated for the first quarter of 2021, according to a separate filing by KPS. SP Setia also said it was too early to reveal details about the total development cost or expected profits.

However, it said the management was confident that the proposal will be “well-received due to its prime locality” and contribute positively to its earnings and cash flow in the future.

The development, located some 20km from the city centre and ringed by lush greenery from nearby tropical rainforests, will adopt an eco-theme similar to Setia Eco Park in Shah Alam, SP Setia said.


The land has a net book value of RM84.55mil and RM44.72mil at the Cash Band and KPS level, respectively, and a market value of RM100mil including buildings, fixtures and furnishings.

State-owned KPS had learnt after a study to evaluate the redevelopment potential of the 18-hole golf course that it was “strategically-located” but “not-fully optimised in its current form and utilisation”.

“Through the proposed conversion of the land use to a mixed development, the true value of the land can be unlocked, realised and optimised for the benefit of shareholders.

“The location of the land amidst lush green surroundings and its close proximity to KL and Selangor’s main cities such as Shah Alam and Petaling Jaya make it ideal for an eco-themed, premium development.

“Since neither Kumpulan Perangsang Selangor not Cash Band are directly involved in property development, the interest of shareholders can be better served through a partnership with a developer with vast experience in the industry and well-known for its award-winning brand of premium sustainable developments,” the company said.

KPS will use the proceeds to pare down its debt and fund new ventures and investments.

The golf club, which has some 1,600 members, will be closed down.

http://www.starproperty.my/index.php...n-templer-park
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Old February 7th, 2013, 06:37 AM   #2
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SP Setia in JV to redevelop Templer golf site


KUALA LUMPUR: SP Setia Bhd will redevelop the famous Templer Park golf club into a residential and commercial project with a gross development value (GDV) of RM1.24 billion.

SP Setia's wholly-owned Rockbay Streams Sdn Bhd yesterday sealed a joint venture agreement with Cash Band (M) Bhd (CBB), a unit of Kumpulan Perangsang Selangor Bhd, to develop a 78.77ha piece of land that sites the golf club in Gombak, Selangor.

CBB is the landowner of the proposed development, which has a current market value of RM100 million.

SP Setia will develop, market and sell the residential and commercial units that will take six years to complete.

It will pay 13 per cent to 16 per cent of the gross sales value of the development, or between RM140 million and RM200 million.

CBB will use the proceeds to compensate for the closure of the golf club operations, and repay advances to Kumpulan Perangsang.

The latter plans to use RM55.2 million to repay borrowings, while the balance of RM29.6 million is to part- finance new ventures or investments.

SP Setia said the RM1.24 billion estimated GDV excludes medium- and low-cost components.

It said it is still early to disclose the estimated total development cost or expected profit from the proposed development but is confident that it will be well-received due to its prime locality.

"In view of the above, the proposed joint venture and the proposed development is expected to contribute positively to the earnings and cash flow of SP Setia in the future.

"The land is strategically located in a prime location, which is about 20km from Kuala Lumpur city centre, and is surrounded by lush greenery from the nearby natural tropical rainforests making it ideal for an eco-themed development," SP Setia told Bursa Malaysia yesterday.

The project allows it to bring its proven expertise in eco-inspired townships to a new development corridor in the Klang Valley where it does not yet have a presence, it added.


More: http://www.btimes.com.my/Current_New...#ixzz2KAxpzJZY
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Old February 7th, 2013, 06:50 AM   #3
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kimigolf.com

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Old February 7th, 2013, 06:54 AM   #4
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Old March 1st, 2013, 11:57 AM   #5
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SP Setia confident of hitting 2013 sales target of RM5.5bil

1 March 2013

SHAH ALAM: SP Setia Bhd is confident of reaching its sales target of RM5.5bil for the financial year ending Oct 30, 2013 (FY13). Confidence boosters include the RM1.216bil already raked in for its first quarter ended Jan 31, 2013 and anticipated contributions from projects in the pipeline.
The RM1.216bil sales registered was 30.33% higher year-on-year and accounted for 22.11% of its FY13 sales target of RM5.5bil.
Speaking to reporters after its 38th annual general meeting, president and chief executive officer Tan Sri Liew Kee Sin said the sales figure for the first quarter did not include sales from the Battersea Power Station project, which it is jointly developing with Sime Darby Bhd and theEmployees Provident Fund. It has a 40% stake in the project in the United Kingdom.
“Sales from the Battersea Power Station project will only be recognised after the sale and purchase agreements are signed and we expect this to be done by April,” he said.
He also said 95% of the 866 units of apartments offered for sale in the first phase had been taken up.

When probed on new projects to be launched, he said the company was planning to launch its 78.71-ha project at Templer's Park by end-2013 with a gross development value of not less than RM1bil.

Meanwhile, it was also eyeing to launch the project on the 1.25-ha British High Commission land along Jalan Ampang in 2014 and 20.64-ha Setia Federal Hill in Bangsar in 2014, he said.



On the property market outlook, he said he was less concerned on general election risks but was more cautious on the global economic environment, which would eventually impact the nation's economy. Nonetheless, he said the company was prudent in managing its projects and would offer a wide range of products to cater to the market's demand.
On another note, the company's shareholders approved the long-term incentive programme (LTIP) it had proposed at its EGM. The establishment of the LTIP of up to 15% of its issued and paid-up share capital would be in force for five years with a potential five-year extension.
Liew said the programme aimed at retaining good staff, and was a form of reward to motivate them to grow in line with the company's vision.
The employee share option scheme is part of the programme.
“It is a fair way of rewarding staff,” he said, as the LTIP would reward staff at different levels.
The plan includes the restricted share plan for employees and executive directors in recognition of their loyalty and contribution towards the company, and the performance-driven share plan for selected senior management and executive directors in recognition of their performance as drivers of growth and performance of the company.
Shareholders had also approved its dividend policy of paying out more than 50% of post-tax profit, he said, adding that the total dividend it had paid out for FY12 was 61%.

More: The Star http://biz.thestar.com.my/news/story...4&sec=business
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Old March 1st, 2013, 11:57 AM   #6
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End of This Year !!
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Old October 28th, 2013, 09:28 AM   #7
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SP Setia to launch projects with GDV of RM10.3bil within two years

Posted on October 28, 2013 - Featured, Property News.

By Lim Wing Hooi



Norhayati: ‘We are committed to building homes and communities via well-planned developments’

SP Setia Bhd plans to launch projects with a gross development value (GDV) of RM10.34bil in Malaysia in the next two years. According to the property developer’s group marketing general manager, Norhayati Subali, the three projects are Setia Eco Forest in Penang, Setia Federal Hill in Kuala Lumpur and Setia Eco Templer in Selangor.

Setia Eco Forest is a mixed residential development of over 1,050 units with a GDV of RM1.1bil, Setia Federal Hill is a mixed development with a GDV of RM8bil while Setia Eco Templer is a township with a GDV of RM1.24bil.


http://www.starproperty.my/index.php...hin-two-years/
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Old December 30th, 2013, 12:28 PM   #8
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Sales and Physical Project will begin in 2014.
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Old March 4th, 2015, 10:26 AM   #9
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any news on this project at templer park ?
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Old March 4th, 2015, 10:49 AM   #10
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Quote:
Originally Posted by pilotHans View Post
any news on this project at templer park ?
Prob will be launched in April or May.

You may register your interest by calling them.

http://www.spsetia.com.my/corporate/group-directory.asp
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Old April 25th, 2016, 03:38 PM   #11
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Monday, 25 April 2016 | MYT 5:11 PM
SP Setia to launch Setia Eco Templer township with RM2bil GDV




RAWANG: Property developer SP Setia Bhd group will launch a new township, Setia Eco Templer, next month, with a RM2bil gross development value (GDV).

Located on the former site of the Perangsang Templer Golf Club in Templer Park in Rawang, the 7.69ha township will comprise residential and commercial properties, said president and chief executive officer Datuk Khor Chap Jen.

http://www.thestar.com.my/business/business-news/2016/04/25/sp-setia-to-launch-setia-eco-templer-township-with-rm2bil-gdv/
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Old April 25th, 2016, 05:17 PM   #12
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S P Setia to launch Setia Eco Templer in May


http://www.propertyguru.com.my/prope...mpler-township

Last edited by davidwsk; March 16th, 2017 at 09:59 AM.
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Old August 30th, 2019, 08:39 AM   #13
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Any news update?
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