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Old August 2nd, 2019, 12:58 PM   #1001
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Cornerstone Partners in maiden Melbourne development venture
Natalie Khoo August 01, 2019 14:05 pm +08



Quote:
PETALING JAYA (Aug 1): Malaysia-based integrated hospitality owner and developer Cornerstone Partners Group is developing its maiden property project in Melbourne, Australia.

In a press release yesterday, the group said the 30-storey tower with hotel and office components has an estimated gross development value of RM420 million. The project will see the first YOTEL hotel in Melbourne which will be located on City Road in Southbank within walking distance from the Crown Melbourne, Southbank Promenade, Arts Precinct, Federation Square, as well as surrounded by other world-class entertainment outlets, amenities and education institutions. YOTEL takes the essential elements of luxury hotels into smaller, smart spaces with a sense of community with areas for co-working, social gatherings and exercise.

In a signing ceremony between Cornerstone and YOTEL on July 17 in Sydney, Cornerstone CEO Jason Chong said that leveraging on their project development capabilities, Cornerstone Partners Group is focused on fulfilling gaps in hospitality markets across Asia-Pacific.

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“We are excited to introduce the story of Cornerstone Partners Group to Australians, particularly with a development the likes which Southbank has never seen before. We believe in Australia, there is an avenue for disruptive brands such as YOTEL, which offer something completely new to the market. We were also impressed by YOTEL’s global development pipeline, focused on key gateway markets, which fits perfectly with our strategy, therefore it was only natural to join forces on our first project in Australia in Melbourne, one of the country’s most cosmopolitan and urbanised cities," Chong added.

Meanwhile, YOTEL CEO Hubert Viriot said that while Australia is a very sophisticated hotel market with strong stakeholders, they believe that the affordable luxury segment has been under-served and that’s what YOTEL intends to solve

“Over the past two years, we have been actively searching for the right locations and partners to roll out our brands in Australia, a key market for our global expansion and a key feeder market for our hotels in the US, Singapore and the UK. Moreover, we are delighted to enter the market with Cornerstone Partners Group,” said Viriot.

Among other projects which Cornerstone owns across Asia-Pacific include the DoubleTree Resort by Hilton Penang, Kimpton Da An Hotel Taipei in Taiwan and CitizenM in Kuala Lumpur with US$200 million worth in direct investments.
https://www.theedgemarkets.com/artic...opment-venture
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Old August 12th, 2019, 02:21 PM   #1002
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Malaysian firm to develop housing project in Makkah
Bernama August 08, 2019 01:05 am +08
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PUTRAJAYA (Aug 7): A Malaysian construction company, Olie Scape Holdings Sdn Bhd (OSH) will be involved in a housing project in Makkah to provide accommodation for hajj pilgrims from Southeast Asia.

Group chairman Datuk Shahoran Johan Ariffin said the residential township project is expected to accommodate up to 300,000 pilgrims.

"The project is still in the discussion stage but the Saudi Arabian Government has approved the project’s construction plan," he told reporters after the signing of a Memorandum of Understanding (MoU) between OSH and Al-Aaly Factory For Prefab Houses Co Ltd (AAFPH).

Shahoran said the project in the form of high-rise houses located between Madinah and Makkah would be equipped with various facilities including a park.

"It will also be integrated with the high-speed rail system phase 2. Hence, those who stay there can perform their Zohor prayers in Madinah and Asar prayers in Makkah," he said.

Meanwhile, he said the MoU was for the construction of houses for the Al Kamel phase one project in Makkah comprising 7,000 housing units out of a total of 30,000 units under the housing project.

He said the balance of 23,000 housing units would be offered to OSH after the company has successfully completed and executed the first package.

"The cost of the first phase project is about RM2.4 billion and the total cost for the 30,000 units is estimated at RM12 billion," he said, adding that under the agreement, AAFPH would supply the industrialised building system components to OSH for the project.

At the MoU signing ceremony, Shahoran represented Olie Scape while AAFPH was represented by the chairman of the board Syeikh Fahad Alotaibi.
https://www.theedgemarkets.com/artic...project-makkah
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Old August 22nd, 2019, 07:41 PM   #1003
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EcoWorld International’s Wardian London
16 Aug | 04:19pm



View from the top! The 53rd floor on one of the two blocks of EcoWorld International’s Wardian London located strategically close to Canary Wharf. The topping out ceremony was performed by EWI executive vice chairman Tan Sri Liew Kee Sin on Thursday, Aug 15, witnessed by members of the EWI board and Malaysian media.
https://www.theedgemarkets.com/conte...wardian-london
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EcoWorld International sasar jadi pemaju unggul London
https://www.bharian.com.my/bisnes/ha...-unggul-london



Pengerusi dan Ketua Eksekutif Ballymore Group Sean Mulryan (kiri) bersama Pengerusi Eksekutif EcoWorld International, Tan Sri Liew Kee Sin, pada majlis penyempurnaan struktur bangunan Wardian London di London.
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Old August 22nd, 2019, 07:44 PM   #1004
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EcoWorld London on track to deliver on Brentford regeneration
By Ooi Tee Ching - August 19, 2019 @ 4:23pm



In December 2017, the London Borough of Hounslow approved of EcoWorld London to carry out regeneration of the Brentford Community Stadium, with seven new 15-storey residential blocks at a 10-acre site on Lionel Road South, close to Kew Bridge.

Quote:
LONDON: EcoWorld London, a 70 per cent subsidiary of Eco World International Bhd (EWI), has launched Jasmine House, the second phase of its Verdo-Kew Bridge development in Brentford.

In a statement today, Eco World London said the contemporary apartments in Jasmine House ranges from one, 2 and 3 bedrooms as well as offering Verdo-Kew Bridge’s first set of studio apartments. Priced above £350,000, these apartments are designed with tall windows and spacious balconies.

Last week, EWI executive vice chairman Tan Sri Liew Kee Sin and top executives of EcoWorld London held a garden party on site with performances by BRIT award winning artist Ella Eyre.

There was also a disc jockey set from chart topping artist Fleur East who got the crowd dancing. Brentford Football Club management and players from the team were also there to meet and greet the fans.



EWI executive vice chairman Tan Sri Liew Kee Sin and top executives of EcoWorld London held a garden party on site where footballers from Brentford FC, known as the Bees among Londoners, met up with fans.

The redevelopment of the Brentford Community Stadium forms part of residential scheme by EcoWorld London in partnership with the football club, popularly known among Londoners as the Bees. This stadium is due to be completed by the 2020/21 season.

In December 2017, the London Borough of Hounslow approved of the regeneration of the Brentford Community Stadium, with seven new 15-storey residential blocks at a 10-acre site on Lionel Road South, close to Kew Bridge.

This redevelopment by EcoWorld London sits next to Kew Bridge Rail Station and nearby Gunnersbury Station on the District Line and Overground, allowing train passengers access into Central London within 30 minutes.

It is less than 1km to the M4, offering car users direct motorway journeys to Heathrow Airport and access to the M40. It is also just 10 minutes away from the Thames River and is surrounded by beautiful parks including the iconic Royal Botanic Gardens at Kew.



The redevelopment of the Brentford Community Stadium forms part of residential scheme by EcoWorld London in partnership with the football club, popularly known among Londoners as the Bees. The stadium upgrade is due to be completed by the 2020/21 season.

EcoWorld London said the 17,250 capacity stadium, 1,000 over much-needed new homes, a new base for Brentford FC Community Sports Trust and other commercial elements will help regenerate economic activities there.

Verdo-Kew Bridge housebuyers with young children can choose to send them to nearby schools such as Kew House, The Queen’s Church of England School, Grove Park School and Lionel School.
https://www.nst.com.my/business/2019...d-regeneration
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Old September 10th, 2019, 03:42 PM   #1005
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Eversendai bags RM288m worth of jobs
Arjuna Chandran Shankar September 10, 2019 15:26 pm +08
Quote:
KUALA LUMPUR (Sept 10): Eversendai Corp Bhd has bagged contracts worth RM288 million in Dubai, Saudi Arabia, India, Singapore and in the Netherlands despite challenges and uncertainties in the global economic situation.

The latest contract wins bring its total outstanding order book to RM2.39 billion.

In a statement today, Eversendai attributes its seven new contract wins to its business model of not depending on a single client or country.

In India, the group has secured three new jobs, which are structural steel works for three commercial building towers in Hyderabad, an airport main terminal building and an ITC boiler structure in Chennai.

"The group continues to strengthen its position in the Middle East by undertaking structural steel works for the Saudi Pavilion designed for the Dubai Expo 2020 in Dubai and a suspension bridge project in King Abdullah Financial District, Saudi Arabia," it added.

Eversendai said another project is the engineering and fabrication of a jacket and piles contract in the Netherlands.

The new wins also include a data centre project in Singapore.

"These contract awards further establish Eversendai as an industry leader in undertaking complex turnkey structural steel works for high rise buildings, composite structures, long span structures, bridges and industrial plants across the globe," its executive chairman and group managing director Tan Sri A K Nathan said.

"It is a testament to the unique offering that Eversendai brings to the market. It resonates strongly with both our clients and staff, focusing on discipline, operational excellence and continuity," he added.

At 15.03pm, Eversendai shares were up 3 sen or 7.59% at 42.5 sen, with 993,100 shares done, giving it a market capitalisation of RM331.93 million.
https://www.theedgemarkets.com/artic...88m-worth-jobs
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Old September 30th, 2019, 03:36 PM   #1006
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London's iconic Battersea Power Station redevelopment
Developer: Sime Darby and SP Setia



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PM impressed with Battersea Power Station development project
By Zaharah Othman September 30, 2019 @ 3:44pm



Prime Minister, Tun Dr Mahathir Mohamad taking a selfie from the penthouse during his visit to the Battersea Power Station project site in London. Courtesy of Wisma Putra
Quote:
LONDON: Prime Minister Tun Dr Mahathir Mohamad expressed delight over the Battersea Power Station development project after he was taken on a tour of the massive iconic site — the largest Malaysian investment in the United Kingdom.

“Fantastic, I didn’t expect this. For Malaysia to do this, I think it is something we can be proud of,” Dr Mahathir said after he was taken to the Scott Penthouse for a breathtaking view of the whole power station project and riverside.

Dr Mahathir could not resist taking a selfie with the four chimneys of the iconic building under construction in the background.

Although most of the planned programme for the prime minister, which included a tour of the site, was cancelled because of the rain, he seemed impressed by what he saw.

This is Dr Mahathir’s first visit to the site of the development by the Malaysian consortium since becoming prime minister in May last year.

He made the one-and-a-half hour visit during his two-day working trip to London, after attending the 74th session of the United Nations General Assembly in New York.

He was accompanied by Foreign Minister Datuk Saifuddin Abdullah and Malaysian High Commissioner to the United Kingdom of Great Britain and Northern Ireland Datuk Mohamad Sadik Kethergany.

He also attended a presentation by Permodalan Nasional Bhd (PNB) executive vice-president, property/real estate, Rick Ramli; PNB senior vice-president, corporate affairs and communications, Aziz Anuar; BPHCL chairman Datuk Ahmad Pardas Senin; BPSDC chairman Datuk Wong Tuck Wai; Sime Darby Property acting group CEO Datuk Wan Hashimi Wan Ahmad Amin Jaffri; BPHCL director/SP Setia Bhd CEO Datuk Khor Chap Jen; BPSDC CEO Simon Murphy; and EPF deputy chief executive officer (investment) Datuk Mohamad Nasir Ab Latif.

The Battersea Power Station development is owned by a consortium of Malaysian investors which comprise SP Setia, Sime Darby Property and the Employees Provident Fund, while the commercial assets within the power station building is directly owned by PNB and EPF.

Managing the development of the project is British-based Battersea Power Station Development Company.

The 17ha project includes mixed commercial space with 4,239 new homes.

Circus West Village is the first phase of development that opened to the public and residents in 2017 and forms the heart of the neighbourhood, providing a mix of new shops and restaurants, and ongoing events that have been enjoyed by more than two million people.

The prime minister signed a plaque to commemorate his visit site.

Rick Ramli said the prime minister showed great interest in the overall development.

“He was interested in the different components, what makes this development unique compared to other developments and, more importantly, how has Malaysia benefitted and contributed to this project,” he said.

“In 2021, when we complete this development and Malaysia Square is completed we would be honoured to have him officiate the square.”

With Phase 1 completed, Phase 2 is expected to be completed in summer 2021. It includes development in the power station.

Parts of Phase 3 are expected to be delivered progressively from summer 2021.
https://www.nst.com.my/news/nation/2...opment-project
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Old October 6th, 2019, 02:21 PM   #1007
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Gamuda dips 1.64% on planned collaboration to bid for Aussie jobs
Surin Murugiah October 03, 2019 09:28 am +08
Quote:
KUALA LUMPUR (Oct 3): Gamuda Bhd shares fell 1.64% this morning after the group said it will buy a 50% stake in Martinus Rail Pty Ltd under a planned collaboration to bid for some A$20 billion (RM56 billion) worth of construction projects in Australia.

At 9.05am, Gamuda fell 6 sen to RM3.60 for a market capitalisation of RM8.90 billion.
https://www.theedgemarkets.com/artic...id-aussie-jobs
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Old October 9th, 2019, 02:28 PM   #1008
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Gamuda dips 1.64% on planned collaboration to bid for Aussie jobs
Surin Murugiah October 03, 2019 09:28 am +08

https://www.theedgemarkets.com/artic...id-aussie-jobs
Gamuda to buy 50 per cent of Australia's Martinus Rail Group
By NST Business - October 3, 2019 @ 8:30am



(L-R): Australia’s Senior Trade and Investment Commissioner to Malaysia Daniel Havas; Martinus Rail Group shareholder Jade Martinus; Martinus Rail Group managing director and founder Treaven Martinus; Gamuda Engineering managing director Datuk Ubull Din Om; and Gamuda Bhd group managing director Datuk Lin Yun Ling. Pix courtesy of Gamuda

Quote:
KUALA LUMPUR: Gamuda Bhd is buying a 50 per cent stake in Australia-based Martinus Rail Pty Ltd, allowing it to take advantage of significant pipeline of construction projects in the country.

Martinus Rail is the largest independent, privately owned, specialist rail constructor in Australia with the relevant accreditation, track record and resources to achieve even greater success in the industry.

Gamuda said its unit Gamuda Engineering Australia and Martinus Rail would jointly tender for infrastructure jobs immediately.

“This acquisition provides a springboard for Gamuda to contribute towards infrastructure development in Australia, especially in the railway industry, in addition to the upcoming metro tunnels and tolled road projects.


“This is similar to what we have successfully achieved in other nation building projects which have sustainably benefited the local supply chain in the economic and social segments.

“We expect to be tendering more than A$20 billion of work over the next year or so,” said Gamuda Engineering managing director (MD) Datuk Ubull Din Om in a statement yesterday.

Martinus Rail has built up a strong brand in the rail space, with the successful delivery of large rail projects exceeding A$200 million in New South Wales, Victoria and Queensland.

Treaven Martinus, MD of Martinus Rail Group said the two companies had complementary strengths in infrastructure construction.

“We are excited by the prospect of bringing innovation and technology from a world-class rail infrastructure company like Gamuda to the Australian rail industry, and combining it with our extensive local experience to become Australia’s leading rail contractor.”

Australia’s senior trade and investment commissioner to Malaysia Daniel Havas said the investment highlighted the continued growth in the two-way commercial relationship and Malaysia’s confidence in Australia’s continued infrastructure development pipeline estimated at A$300 billion”.

According to the BIS Oxford Economic Report published in July, rail infrastructure works in Australia were expected to grow 14 per cent per annum until 2023.

Beyond that, railway works will be supported by expected networks to the Melbourne and Western Sydney Airports, as well as continued construction of the Inland Rail, Sydney Metro West and Geelong Fast Rail.
https://www.nst.com.my/business/2019...nus-rail-group
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Old October 9th, 2019, 02:28 PM   #1009
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Gamuda is so advantage!!!
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Old October 9th, 2019, 02:43 PM   #1010
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YTL Corp to inject UK properties worth over RM1b to YTL REIT next year
By Sharen Kaur - October 7, 2019 @ 11:52am


Quote:
LONDON: YTL Corp Bhd is preparing to inject its UK properties, estimated to worth over RM1 billion, into its global hospitality real estate investment trusts (YTL Reit) next year.

The group, through YTL Hotels & Properties Sdn Bhd, owns and operates five luxury hotels across United Kingdom.

They are The Academy Hotel in Bloomsbury district, Threadneedles Hotel in London, Monkey Island Estate in the village of Bray, Berkshire on the River Thames, Gainsborough Bath Spa in Bath and the Glasshouse hotel in Edinburgh, Scotland.

YTL Corp executive director Datuk Mark Yeoh said all the five hotels are performing well in terms of occupancy and revenue.

“The hotel business has been very robust since we acquired the properties. All the numbers are very positive. The yields are good, giving us over six per cent per annum. We continuously aim for higher numbers,” Yeoh told the New Straits Times in an exclusive interview here.

Yeoh, who is also executive director for YTL Hotels, added that the group had invested circa about 100 million pounds to acquire and refurbish the properties in the last three to four years.

He said YTL had a global mandate to grow the YTL Reit business and it had been expanding steadily over the years.

YTL Reit, listed in 2005, had a market capitalisation of about RM2.28 billion as at October 3 thisyear, with a wide portfolio of prime hotel properties valued around RM5 billion.

The hospitality assets range from business to luxury hotels and are spread across a range of unique locations worldwide.

In Malaysia, these include the JW Marriott Hotel Kuala Lumpur, The Majestic Hotel Kuala Lumpur, The Ritz-Carlton, Kuala Lumpur (Hotel and Suite wings), the Pangkor Laut, Tanjong Jara and Cameron Highlands resorts and the Vistana chain of hotels in Kuala Lumpur, Penang and Kuantan.

The Reit's international portfolio comprises Hilton Niseko Village and The Green Leaf Niseko Village in Japan and the Sydney Harbour, Brisbane and Melbourne Marriott hotels in Australia.

“When we invest in a property, we give it a three to five years horizon. Our properties have to be reitable. We have investors or unit holders who are always with us. They have been long term with us. We have investors dialogue and they are always asking us about expansion.

“We told them when the hotel business matures, and when it gives a lot of yield or yield accretion, we will offer it to the Reit and this is what we are working on doing currently. The numbers are getting there for the London properties,” he said.

YTL Reit’s fourth-quarter net property income (NPI) grew 3.7 per cent year-on-year because of higher master leases, which in turn, was mainly due to the acquisition of The Green Leaf Niseko Village in Japan in September last year.

The NPI increase to RM60.26 million in the fourth financial quarter ended June 30, 2019 (4QFY19) from RM58.11 million a year ago.

Its realised income grew 6.8 per cent to RM35.77 million from RM33.49 million in 4QFY18.

Quarterly revenue increased 1.8 per cent to RM118.67 million from RM116.6 million in 4QFY18.

YTL Reit declared a final income distribution per unit (DPU) of 2.1 sen per unit for the financial year ended June 30, 2019 (FY19). The payout represents 100 per cent of the total distributable income for FY19.

For full FY19, YTL Reit’s NPI increased 1.8 per cent to RM253.28 million versus RM248.83 million the previous year, while revenue fell two per cent to RM490.9 million from RM501 million in FY18.

Its realised income for the year remained flat at RM134.15 million compared with RM134.011 million.

“Our Reit is now giving circa over six per cent so whatever assets we put in they must achieve REIT-accretion. The UK assets are just perfect to grow YTL Reit.

“We are opportunistic investors now. We have a pipeline of assets coming in and we want to constantly give to the Reit. By early 2021 YTL Reit will be bigger than its current size,” said Yeoh.
https://www.nst.com.my/business/2019...reit-next-year
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Old October 16th, 2019, 03:47 PM   #1011
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Yinson bags US$5.4bil contracts in Brazil
October 16, 2019 @ 4:14pm


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KUALA LUMPUR: Yinson Holdings Bhd has been awarded two long-term contracts worth US$5.4 billion by Brazil’s national oil company Petróleo Brasileiro S.A.

The contracts are for the charter, operations and maintenance of FPSO Marlim 2, a floating, production, storage and offloading vessel, for the Marlim revitalisation project in Brazil.

Yinson said two letters of intents (LOIs) were issued to its indirect wholly-owned Yinson Production Pte Ltd.

“Following the LOIs, the charter contract will be entered into by Yinson’s Netherlands-incorporated indirect subsidiary Yinson Boronia Production B.V, while the operation and maintenance (O&M) contract will be entered into by Yinson Boronia’s Brazil-incorporated subsidiary Yinson Boronia Serviços de Operação Ltda.”

“The estimated aggregate value of the contracts is equivalent to US$5.4 billion. The contract period is for 25 years from the date of the final acceptance,” Yinson said in a statement today.

FPSO Marlim 2 will be Yinson’s first vessel to operate in Brazil waters, and is one of several bids in the region that Yinson has entered into.

Group chief executive officer Lim Chern Yuan said FPSO Marlim 2 would be Yinson’s largest project to date, and that it had been focusing on building its resources, capacity and expertise in order to meet the project’s delivery and timeline.

“This project further cements Yinson’s position as a global FPSO player, demonstrating the industry’s increasing confidence in our ability to deliver projects on time, and thereafter to maintain our excellent uptime and safety track record,” he said.

Yinson CEO of production Eirik Barclay said much of the needed groundwork and preparations in order to swing into high gear upon project award had already been completed.

In March this year, Yinson and Sumitomo Corp announced their intention to collaborate on the Marlim revitalisation project, Japan-based Sumitomo would participate with an effective interest of at least 20 per cent in the event of a successful bid by Yinson.

The shareholder agreement pertaining to the collaboration was expected to be announced in due course, Yinson said.
https://www.nst.com.my/business/2019..._medium=recsys
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Old October 17th, 2019, 05:41 AM   #1012
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Wah Seong in JV to build coating plant in Qatar
October 16, 2019 @ 7:21pm


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KUALA LUMPUR: Wah Seong Corp Bhd subsidiary Wasco Energy Ltd (WEL) and Qatar Petroleum (QP) have signed a memorandum of understanding (MoU) today to set up an anti-corrosion and concrete weight coating plant in Qatar to support the kingdom’s Tawteen Program.

The MoU, signed by WEL chief executive officer Giancarlo Maccagno, confirms WEL’s commitment, in partnership with Medgulf Construction Company WLL, to support QP’s localisation program for services and industries in the energy sector in Qatar.

Tawteen is the supply chain localisation initiative for the energy sector in Qatar led by QP with the participation of all the other companies operating in this sector.

WEL was selected among all of the international coaters by QP following a comprehensive review of its technical capabilities, financial strength, strong emphasis on safety and quality culture that is aligned to QP’s standards of excellence.

WEL’s pipe coating facility is expected to be fully operational by early 2020, and will be in full compliance with all international standards, as well as meet the relevant specifications of all oil and gas operators in Qatar.

In a Bursa Malaysia filing today, Wah Seong said the MoU entails the incorporation of a joint venture company, Wasco Medgulf Coatings QFZ LLC (WMC), in the Qatar Free Zone Area.

WMC has a capital of RM230,457.39 (QR200,000) divided into 2,000 shares of QR100 each to be fully subscribed for in the proportions of 60 per cent and 40 per cent by WEL subsidiary Wasco Coatings Ltd and and Medgulf respectively.

WMC will undertake anti-corrosion and concrete weight coating of pipelines for the O&G industry.

Wah Seong said WMC will be in a unique position to capture the coating work and associated logistics of those pipelines.

It will also be in a competitive position to capture opportunities in Middle East, Europe and especially East Africa where major oil and gas discovery are expected to go into development in the next 5 to 10 years
https://www.nst.com.my/business/2019...ng-plant-qatar
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Old October 27th, 2019, 11:07 AM   #1013
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Old November 13th, 2019, 02:39 PM   #1014
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S P Setia 3Q net profit jumps 67% on higher property development revenue
Surin Murugiah November 13, 2019 14:07 pm +08


Quote:
KUALA LUMPUR (Nov 13): SP Setia Bhd's net profit for the third quarter ended Sept 30, 2019 jumped 67.1% to RM108.93 million from RM65.19 million a year earlier, on the back of higher property development revenue.

In a filing today, the developer said revenue for the quarter slipped to RM932.07 million from RM993 million previously as it had last year completed and handed over its Australian project Maison Carnegie, of which the revenue and profits were recognised on completion basis.

Earnings per share was 1.06 sen compared to 1.67 sen earlier.

For the nine months ended Sept 30, S P Setia said net profit fell to RM300.48 million from RM569.41 million in the year-ago period. Revenue, however, rose to RM3.13 billion from RM2.57 billion a year earlier.

In a separate statement, S P Setia said the revenue and profit thus far were contributed mainly by ongoing projects in Malaysia while ongoing international projects, comprising Battersea Power Station in London, United Kingdom, as well as Sapphire by the Gardens and UNO in Melbourne, Australia, were recognised on completion method, hence there was no profit contribution from the said international projects.

It said over the same period, the group secured sales of RM3.07 billion.

"Local projects contributed RM2.60 billion, which represented approximately 85% of the total sales while international projects contributed RM467 million, which represented the remaining 15% of the total sales," it said.

S P Setia president and CEO Datuk Khor Jap Jen said amid the challenging landscape of a subdued property market, the strategy was to launch more mid-range landed properties in the group's flagship townships where the underlying demands by owner-occupiers are still favourable.

Khor said as S P Setia goes into the remaining months of FY19, another RM2.17 billion worth of gross development value (GDV) is planned to be launched.

He said the group will continue to focus on the launches of landed properties in the established townships of Klang Valley and Johor Bahru.

"This will bring the total launches for FY19 to RM4.88 billion.

"Notable launches are planned in existing townships of Setia Alam, Setia Eco Hill, Setia Eco Templer, Setia Eco Park, Bandar Kinrara, Alam Impian, Setia Eco Garden and Setia Tropika," he said.

At the midday break, S P Setia shares were 1.48% or 2 sen lower at RM1.33, valuing it at RM5.38 billion.
https://www.theedgemarkets.com/artic...opment-revenue
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Old November 13th, 2019, 02:48 PM   #1015
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EcoWorld International tops out first Australian project
Wong Swee May November 12, 2019 19:23 pm +08



Quote:
KUALA LUMPUR (Nov 12): Eco World International Bhd (EWI) has topped out its first Australian project, the A$315 million West Village project in Parramatta, Sydney, which marks a pivotal construction milestone for EWI.

The occasion was celebrated with an intimate onsite ceremony attended by the mayor of Parramatta, Lord Mayor Bob Dwyer, EWI executive vice chairman Tan Sri Liew Kee Sin, and EWI president and chief executive officer (CEO) Datuk Teow Leong Seng.

Designed by world-class architecture firm Woods Bagot and featuring landscaping by Myles Baldwin, West Village has secured a 95% take-up rate, EWI said in a statement today, with buyers eager to capitalise on its enviable location to Westfield Parramatta shopping centre and the train station, as well as a wide selection of trendy restaurants, bars and boutiques cafes.

The group noted that Parramatta, as Sydney’s second Central Business District (CBD), is undergoing a significant transformation, with major infrastructure projects and development to cater to employment opportunities and a growing population.

“We have always held the view that Parramatta would be the next growth area for Sydney, due to its central geographical location in New South Wales and its excellent infrastructure and amenities.

“Parramatta truly suits our hallmark for rolling out quality developments in prime locations that can cater to the local needs of the residents, and the success West Village has experienced confirms the prediction that Parramatta is set to become the new (CBD),” said EWI Australia CEO Yap Foo Leong.

West Village offers 398 luxury light-filled apartments with spectacular grand balconies with residential amenities including a tower rooftop complete with BBQ facilities, a virtual golf room, a piano room and a stunning podium sky garden for residents to relax and unwind in. On the ground floor across three street frontages, West Village will feature vibrant ground-floor retail and intimate alfresco dining precinct with delectable restaurants and cafes.

On completion, West Village will sit aside skyscrapers like Altitude, Skyrise and the soon-to-be-completed 4 Parramatta Square, EWI said.

EWI’s other Australian project is Yarra One in Melbourne, which is under construction and will top out in February 2020.
https://www.theedgemarkets.com/artic...ralian-project
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Old November 13th, 2019, 02:56 PM   #1016
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West Village project in Parramatta, Sydney
Quote:
Originally Posted by ParraMan View Post
I'm loving how this is turning out!

From this morning, first the low rise part then the high rise:


2019-10-12_04-57-43
by formsy, on Flickr
Quote:
Originally Posted by ParraMan View Post
A few more angles of this almost completed beauty from this morning:


2019-10-27_06-17-54
by formsy, on Flickr


2019-10-27_06-17-48
by formsy, on Flickr


2019-10-27_06-17-42
by formsy, on Flickr


2019-10-27_06-17-15
by formsy, on Flickr



2019-10-27_06-17-09
by formsy, on Flickr
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Old December 21st, 2019, 01:18 PM   #1017
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BLand's US$1b Okinawa project to start in June
By Sharen Kaur - December 19, 2019 @ 12:39pm
Quote:
KUALA LUMPUR : Berjaya Group's US$1 billion Four Seasons Resort and Pivate Residences on the island of Okinawa in Japan will start construction by June next year.

Berjaya Land Bhd (BLand) chief executive officer Syed Ali Shahul Hameed said the Four Seasons Resort and Private Residences will be the most iconic development in Japan, setting a benchmark.

It will emulate the success of Four Seasons Hotel and Hotel Residences Kyoto by Berjaya Group which was launched in December 2016.

BLand unit Berjaya Okinawa Development Co. Ltd inked a management agreement with Four Seasons Hotels and Resorts on January 17 this year for the project.

Syed Ali said BLand will build a total 122 private residences, as well as 28 villas and a spa.

The 125-room Four Seasons Resort, private residences, villas and spa are the first phase of development for the 100 acres of beach front land owned by BLand.

Phase 1 will use up 33 acres, and completed in 2023, said Syed Ali, adding that the total development cost is US$400 million.

"Earthwork is expected to start in the second quarter. We target to launch the residences and villas in the third quarter of next year," he told the New Straits Times.

Syed Ali is upbeat the residences and villas will have positive take-up, given the location, coupled with the prestigious Four Seasons branding and management.

The 100 acre land is situated along the western coast of the island, about 50km northeast of Naha International Airport.

"Air Asia will fly to Okinawa starting January 22, 2020. This is a plus point for our development as we are targeting the Malaysian market. We are also targeting the Japanese market. Okinawa is the Hawaii for the Japanese," said Syed Ali.

The four times weekly service via Taipei commences January 22 2020 (subject to regulatory approval), and will be AirAsia’s sixth international destination in Japan, after Tokyo (Haneda and Narita), Osaka, Sapporo, Fukuoka and Nagoya (via Bangkok).

Berjaya Corp founder and executive chairman Tan Sri Vincent Tan said during the signing of the management agreement here that the Four Seasons Resort and Pivate Residences will be the most beautiful, valuable and expensive property in Okinawa.

Bart Carnahan, executive vice president, global business development of Four Seasons Hotels and Resorts said together with Berjaya, the partnership will not only create the very finest resort and residences of the highest quality, but will also offer a level of unparalleled service, one that is synonymous with the name Four Seasons around the globe.

The master plan for Four Seasons Resort and Private Residences, including planning and landscape architecture, is developed by international landscape architecture and urban design firm, EDSA Inc.

Japan's top architects Kengo Kuma and Kuniken will serve as joint architects for the project.

Plans are being finalised for the remaining 70 acres, which may include more luxurious residences.
https://www.nst.com.my/business/2019...ect-start-june
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Old December 31st, 2019, 08:19 PM   #1018
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YTL Hospitality REIT's FY20-21 earnings to grow 9%, says Affin Hwang
Wong Swee May December 31, 2019 11:02 am +08
Quote:
KUALA LUMPUR (Dec 31): Affin Hwang Capital Research forecasts YTL Hospitality Real Estate Investment Trust (YTL REIT) to grow its distributable financial year 2020-2021 earnings (FY20-21E) by 9% year-on-year, driven by higher contributions from Green Leaf Niseko Village, JW Marriott KL and Brisbane Marriott Hotel, and lower financing cost for its Australian dollar borrowings.

In a note today, the research house said it has maintained its 'buy' call on YTL REIT at RM1.35 with a higher target price of RM1.46 (previously: RM1.38).

Affin Hwang said YTL REIT has a term loan denominated in Australian dollar amounting to A$342.8 million (circa RM984 million).

"YTL REIT obtained the loan in FY15 and it is repayable by a bullet payment on June 29, 2020. The term loan bears a weighted-average interest rate of 4.58%.

"We observe that Australian banks' lending rates for large business [have] declined in the recent years and expect YTL REIT to refinance the loan at a lower borrowing cost," it added.

The research house also said it has pencilled in a 100-basis-point decline in the finance cost for the Australian dollar loan, which should result in circa RM9.8 million savings and lift its FY21E earnings.

Meanwhile, Affin Hwang said it forecasts YTL REIT to grow its FY20E distributable earnings per unit by 10%, which is mainly driven by full-year contribution from Green Leaf Niseko Village acquired in September 2018, earnings recovery at Brisbane Marriott Hotel after completing its renovation works in April 2019 and rental revision at JW Marriott (+RM5.95 million per annum) following the completion of RM85 million renovation works.

The rental growth should more than compensate for higher finance costs, it said.

The research house said it continues to like YTL REIT's master leases, which account for 60% of the REIT's FY20E net property income.

"To recap, these master lease agreements with the lessees (mainly affiliate companies of YTL Corp Bhd) has long contract tenure and stable rental income, with a 5% step-up provision every five years.

"Elsewhere, we are mildly positive on its Australian hotels (under management contracts)," it added.

It also expects the Sydney Habour Marriott to sustain its strong occupancy while Brisbane Marriott should see a recovery after completing its renovation in April 2019.

Moreover, Affin Hwang said it expects defensive assets to remain in vogue and maintain its 'Overweight' rating on Malaysian REITs (MREITs).

"Taking a cue from the compressed 10-year Malaysian Government Securities (MGS) yield and a possible cut in overnight policy rate (OPR) in the first half of 2020 (1H20), we anticipate strong investor demand to drive further positive re-rating of the high-quality MREITs.

"Historically, MREITs' distribution yield is positively correlated to the 10-year MGS yield," it added.

At 6.4% FY20E yield, YTL REIT offers the highest yield among the MREITs under its coverage and the stock looks attractive, it said.

At 9:17am, YTL REIT units were traded at RM1.36 for a market capitalisation of RM2.32 billion.
https://www.theedgemarkets.com/artic...ys-affin-hwang

Quote:
YTL Hospitality REIT
http://www.ytl.com/ytl-reit.asp
YTL Hospitality REIT has a market capitalisation of approximately RM 2,293 million (as at 30 November 2019) and comprises prime hotel and hospitality-related properties. In Malaysia, these include the JW Marriott Hotel Kuala Lumpur, The Ritz-Carlton, Kuala Lumpur, The Residences at The Ritz-Carlton, Kuala Lumpur, the Pangkor Laut, Tanjong Jara and Cameron Highlands resorts and the Vistana chain of hotels in Kuala Lumpur, Penang and Kuantan. YTL Hospitality REIT's international portfolio comprises Hilton Niseko Village in Japan and the Sydney Harbour, Brisbane and Melbourne Marriott hotels in Australia.
Quote:
The Green Leaf Niseko Village, Japan
http://www.travelogue.co.th/hotel-de...01712081509331







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Old January 3rd, 2020, 12:05 PM   #1019
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Gamuda and Dong Pi bag RM932m contract in Taiwan
By NST Business - January 2, 2020 @ 8:28pm
Quote:
KUALA LUMPUR: Gamuda Bhd and joint venture partner Taiwan’s Dong-Pi Construction Co Ltd have bagged the construction contract for a seawall project in Taiwan worth NTD6.82 billion (RM932.5 million).

Gamuda said the contract, which involves new construction in the third and fourth stages of the seawall and the second phase of a dike recovery and reuse project, was awarded by Taiwan state-owned ports operation company Taiwan International Ports Corp Ltd.

“The scope of the works involves the construction and completion of 4,014 metre-long seawall structures, dismantling of existing seawall structures (954 metres long) and Southport shore protection works,” it said in a statement today.

Gamuda said the contract was for 60 months from January 2020 and was expected to be completed by January 2025.

The works will be undertaken by Gamuda and Dong-Pi via an unincorporated joint venture, on a 70:30 basis in favour of Gamuda.
https://www.nst.com.my/business/2020...ontract-taiwan
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Old January 24th, 2020, 08:39 PM   #1020
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MALAYSIAN VENTURES TO THE WORLD 2020
China | Petroliam Nasional Bhd (Petronas)
Taiwan | Gamuda Bhd
Pakistan | MMC Corp Bhd / FGV Holdings Bhd
Brazil | MISC Bhd
Nepal | MaxMoney Sdn Bhd
Kazakhstan | Reach Energy Bhd
UK | MTD Group
Quote:
Originally Posted by nazrey View Post
One Crown Place London
Developer: AlloyMTD Group
Architect: Kohn Pedersen Fox










MTD’s One Crown Place project in London set to be completed by 2021
January 24, 2020 20:15 pm +08


https://steelguru.com/infra/mtd-grou...ops-out/555012
Quote:
KUALA LUMPUR (Jan 24): The development of One Crown Place by Malaysian’s MTD Group is set to complete by 2021 with the successful completion of the construction phase on the final floor of the 33-storey southernmost building.

MTD Group today announced the topping-out of the project, which it said will be one of London's most notable development.

“Embracing the old-meets-new character of the City of London and Hackney, One Crown Place is a welcome contrast to the capital’s many glass towers, artfully combining original heritage buildings with striking modern architecture from Kohn Pederson Fox,” MTD said in a statement.

MTD was previously-listed on Bursa Malaysia as MTD Capital Bhd. Its owners took the group private in 2011.

The One Crown Place project includes 246 private apartments and a fully restored Georgian terrace, which will be transformed into a 41-room luxury boutique hotel.

It also comprises 140,000 sq ft of premium office space and retail units totaling 7,000 sq ft, will also be delivered as part of the scheme.

“External work on the residential towers is well underway at One Crown Place, revealing the scheme's unique and characterful design, and interior fit-out of the apartments has begun followed by the hotel fit-out later this year,” MTD said.

The scheme is due to complete in the first quarter of 2021.

The One Crown Place project is undertaken by MTD’s subsidiary AMTD London Development Co Ltd.

“We are very pleased to announce the topping-out of this iconic mixed-use development in Central London. This is a major milestone for MTD Group and demonstrates our commitment to delivering this landmark scheme to the highest standards,” said AMTD London Development Co Ltd director Tee Kim Siew.
https://www.theedgemarkets.com/artic...completed-2021
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Originally Posted by potto View Post
the brown ceramic bits have a really nice shimmer that changes as you walk past, the blue panelled part just doesnt havel the same feel of quality and depth.











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Quote:
Originally Posted by DarJoLe View Post
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