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PROUD 2 B MALAYSIAN
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Vince
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Berjaya Group set to transform Stulang Laut
http://www.thestar.com.my/News/Nation/2014/05/30/Berjaya-Group-set-to-transform-Stulang-Laut/

Stulang Laut will undergo a major transformation with a theme park and high-end commercial area among the new features.

Berjaya Group would also refurbish and revamp the duty-free area which housed the Berjaya Waterfront Hotel and Duty-Free Shopping Complex.
Even though he may have good intentions, I still don't trust this Vincent Tan. How can he redevelop the duty free shopping centre and hotel, and reclaim land at Stulang Laut for a new theme park when he already abandoned the land he reclaimed in front of the JB General Hospital? He is just damaging the ecosystem of the Straits of Johor by reducing the width of the waterway! Someone has to stop this opportunist from making more of a mess in JB!
 

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Isn't this Vantage bay, is it!?!?!
Is this part of the Vantage Bay too ?

So Berjaya group still owns any remaining plots along Stulang Waterfront?

M'sian billionaire Vincent Tan sells TMC shares to S'pore tycoon Peter Lim
Friday, 8 August 2014
BY: DANIEL KHOO

Post-transaction, Tan will still have a residual direct interest of 0.40% and a deemed interest of 1.37% in TMC other than through the BCorp Group. (Inset: Peter Lim Eng Hock: Crosses mandatory takeover threshold. - AFPpic)


PETALING JAYA: Singapore billionaire Peter Lim Eng Hock has acquired an additional 26.6% in TMC Life Sciences Bhd from Tan Sri Vincent Tan Chee Yioun for 48 sen per share, raising his stake in the company to 59.2% and triggering a general offer for the rest of the shares he does not already own in the process.

Lim, however, intends to maintain the healthcare provider’s listing status on Bursa Malaysia.

Shares in TMC were last traded at 46.5 sen yesterday.

TMC said in an announcement that its board would hold an emergency meeting to deliberate on the offer and make an announcement in due course.

The takeover offer was effected after Tan, TMC’s second-biggest shareholder, hived off his stakes held through Berjaya Corp Bhd (BCorp) (11.6%) and Berjaya Land Bhd (BLand) (15%) in TMC for RM102.6mil to Lim via Sasteria (M) Pte Ltd yesterday.

A block of 160.68 million shares in TMC crossed in an off-market trade yesterday at 48 sen per share in the last minutes of trading just before the market closed for the day.

Lim had 32.6% in TMC prior to yesterday’s transaction.

Under Bursa Malaysia’s listing requirements, Lim will have to extend his takeover offer to all minority shareholders in the company at 48 sen a share and eight sen per warrant.

It has been speculated that the acquisition could be a prelude to Lim eventually parking all his healthcare services assets in Malaysia under one vehicle.

It is also notable that this transaction with TMC by Lim is reminiscent of what had happened to the-then Singapore-listed Thomson Medical Centre Ltd, which was privatised by him in 2010 in a similar transaction.

Lim had then also triggered a mandatory conditional offer for Thomson Medical after its largest shareholder and founder, Dr Cheng Wei Chen, sold his entire effective 39.34% stake at S$1.75 (RM4.48) a share in a direct business transaction with Lim.

Lim is also said to be injecting his planned 200-bed hospital at Iskandar Malaysia’s medical hub into TMC eventually.

Lim’s keen interest in TMC was first traced back four years ago in 2010 when he emerged with a 29.6% stake after acquiring a stake from TMC’s founder Datuk Dr Colin Lee Soon Soo in direct business trades then.

He later further raised his stake in the company and by the middle of 2011, held 32.6% in TMC, a stake which he had held on to until before yesterday.

Meanwhile, BCorp said it would realise an estimated total gain of RM21.64mil from these disposals while BLand, which is also a subsidiary of BCorp, said it would net total gains of RM3.62mil from this share sale to Lim.

“Currently, the total carrying value of the sale shares is about RM41.99mil or 45 sen per sale share, which has been purchased since January 2008. The disposals have enabled the BCorp Group to realise its investment in TMC,” BCorp said in its announcement.

Both BCorp and BLand said they would utilise the proceeds for working capital and/or the repayment of borrowings for the company.

Post-transaction, Tan will still have a residual direct interest of 0.40% and a deemed interest of 1.37% in TMC other than through the BCorp Group.
http://www.thestar.com.my/Business/Business-News/2014/08/08/Changes-at-TMC/?style=biz
 

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PERMOHONAN KEBENARAN MERANCANG MENGIKUT SEKSYEN 21, AKTA PERANCANGAN BANDAR & DESA, 1976 (AKTA 172) BAGI TUJUAN PEMAJUAN 2 BLOK PANGSAPURI PERKHIDMATAN (2,104 UNIT) YANG MENGANDUNGI: 1) 2 BLOK PANGSAPURI PERKHIDMATAN YANG TERDIRI DARIPADA: i. BLOK A-38 TINGKAT (904 UNIT) ii. BLOK B-38 TINGKAT (1,200 UNIT) 2) 1 TINGKAT KOMPLEKS MEMBELI-BELAH DI TINGKAT BAWAH 3) 8 TINGKAT PODIUM TEMPAT LETAK KERETA DAN 2 TINGKAT BASEMENT BESERTA KEMUDAHAN BERKAITAN DI ATAS PTB 24317 DAN PTB 24318, JALAN STULANG LAUT, STULANG LAUT, MUKIM BANDAR JOHOR BAHRU,JOHOR DARUL TA’ZIM UNTUK TETUAN BERJAYA WATERFRONT SDN. BHD.

http://www.epbt.gov.my/osc/Proj1_Info.cfm?Name=605708&S=S
 

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Berjaya Assets, Foshan City plan duty free trade city in JB
Wednesday, 13 July 2016 | MYT 12:54 PM
http://www.thestar.com.my/business/...-foshan-city-plan-duty-free-trade-city-in-jb/

KUALA LUMPUR: Berjaya Assets Bhd's unit and Foshan City Bureau of Commerce (FCBC) plan to undertake a South East Asia Duty Free Trade City (SEADFTC) project at Berjaya Waterfront, Johor Bahru.

Berjaya Assets said on Wednesday its unit Berjaya Waterfront Sdn Bhd had inked an MoU with FCBC, which oversees commerce development and management of the government of Foshan City, Guangdong province in China.

Berjaya Waterfront director Datuk Zurainah Musa signed on behalf the company while FCBC was represented by its deputy head Tong Quanqing. It was witnessed by Berjaya Assets chairman Tunku Datuk Seri ShahabuddinTunku Besar Burhanuddin.

“The MoU was agreed upon during discussions between officials from Berjaya Waterfront and FCBC when FCBC recently made a trade and investment delegation visit to the SEADFTC project in Johor Bahru which is a planned development project by Berjaya Assets,” it said.

Under the MoU, both parties will establish a framework for collaboration with progressive discussions, exchange of information, and development and investment updates for the relevant commercial initiatives.

“As Berjaya Waterfront works to introduce new ideas and infuse fresh vibes to SEADFTC, FCBC will come in as a partner instrumental in providing technical support in terms of bringing corporate investments and trading activities from Foshan enterprises to SEADFTC,” said Berjaya Assets.

FCBC will organise trade visits to SEADFTC to explore and conduct trading and investment activities with the intention of promoting this project as a strategic initiative for Foshan City investors in Malaysia.

Berjaya Corporation Bhd group has invested in numerous infrastructure projects in Foshan City in the past few years.
Speaking to reporters after the signing ceremony here yesterday, Berjaya Waterfront director Datuk Zurainah Musa said the company has transformed the area into a duty free trade zone by bringing in new trades.

“Berjaya Waterfront is deemed as a free trade zone, so they’re coming here to do the business," she said, noting that the zone currently has 35,000 sq m of retail space and a hotel.

“Of course in any business that we do, there will always be expansion and that is in the pipeline,” she replied when asked about expansion plans within Berjaya Waterfront.
http://focus.iproperty.com.my/news/...ent-in-johor-trade-centre#uEyVJJRATM6pXP3u.99
 

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Johor ruler said to be interested in BAssets' land reclamation project
October 11, 2017 15:00 pm MYT

SULTAN of Johor Sultan Ibrahim Sultan Iskandar, who is expected to emerge as a substantial shareholder in Berjaya Assets Bhd (BAssets), is said to be interested in the group’s land reclamation project near the Johor Strait, according to sources.

It is worth noting that loss-making BAssets has the right to reclaim 55 acres adjacent to Berjaya Waterfront in Johor, which will enhance the value of the development.

The group has successfully refurbished the property for less than RM20 million after acquiring it from duty-free operator Atlan Holdings Bhd for RM325 million in 2012.

“The Sultan of Johor is keen to take a substantial stake in BAssets as the land reclamation project is near his palace and, of course, the development is taking place in his state,” a source tells The Edge.

A check on Google Map shows that Berjaya Waterfront is only a four-minute drive or 2.4km from Istana Pasir Pelangi and a 14-minute drive or 9.5km from the majestic Istana Bukit Serene.

Istana Pasir Pelangi is the home of the Crown Prince of Johor and his family while Istana Bukit Serene is the official residence of the Johor ruler.

Citing two sources, The Edge Financial Daily last Thursday reported that Sultan Ibrahim bought 80 million shares or a 6.7% stake in BAssets off market on Sept 27.

It is learnt that he bought the shares at RM1 apiece, representing a 14.5% discount to the counter’s closing price of RM1.17 on that day.

Sources also say Sultan Ibrahim is likely to continue mopping up BAssets shares to at least a double-digit percentage stake.

At press time, the ruler’s total shareholding in BAssets was still unknown.

As required by the Companies Act 2016, a substantial shareholder must notify a company of any change in his or her shareholding within seven days.

Ultimately controlled by business tycoon Tan Sri Vincent Tan Chee Yioun, BAssets was the developer of Berjaya Times Square in Kuala Lumpur, one of the country’s largest retail and commercial projects. The group also owns Natural Avenue Sdn Bhd, which operates a number forecast business in Sarawak.

BAssets also has a licence agreement with Greyhound Café Co Ltd to set up and operate cafés under the latter’s trademark in Malaysia.

It is worth noting that Berjaya Waterfront’s duty-free zone has 35,000 sq m of retail space as well as a hotel, which has a convention centre and business-class rooms. The duty-free zone also includes a ferry terminal that is used by passengers from Indonesia’s Batam and Bintan islands.

“Berjaya Waterfront is already located in the country’s southernmost city and is minutes away from the main causeway link to Singapore. With the land reclamation, it is literally the nearest [point on] Malaysian territory to Singapore ... edge to edge,” says another source.

Furthermore, Berjaya Waterfront is in close proximity to the Sultan Iskandar Customs, Immigration and Quarantine Complex, railway station and central business district in Johor Baru.

Meanwhile, sources reveal that a few Chinese land reclamation contractors, including China Communications Construction Co Ltd (CCCC), have met Tan to offer their services.

No firm decision has been made so far, but BAssets is likely to appoint CCCC as it offers the best package, says a source.

BAssets executive director Koh Huey Min was reported as saying in August that the environmental impact assessment on the land reclamation project has been secured and the group is in the process of submitting the environment management plan and seeking planning approval.

She added that the reclamation can only start next year as approval will only be obtained in three to six months.

The group estimates a reclamation cost of less than RM200 psf, significantly lower than the highest recorded transaction price of RM800 psf for the area.

“Even if I were to give a 50% discount at RM400 psf, we still have a value of about RM1 billion,” Koh was quoted as saying.

“And this is only looking at the value of the land. We have earmarked it for a mixed-use development, comprising hotels, residential units and probably hospital facilities. This will definitely push the gross development value beyond RM1 billion.”

She said the reclamation will take less than two years, but added that BAssets is not in a hurry to complete the development, considering current market conditions. The project will likely be developed in phases over 10 to 15 years.

Coming back to Sultan Ibrahim’s off-market transaction, it is not yet publicly known who the seller of the 6.7% stake is. Tan held a controlling 63% stake in BAssets — 37.7% direct interest and 25.3% deemed interest via Berjaya Corp Bhd — as at Aug 17.

Interestingly, the Johor ruler has already invested in several companies in which Tan also has a stake. They are convenience store chain operator 7-Eleven Malaysia Holdings Bhd, telecommunications solutions provider REDtone International Bhd and U Mobile Sdn Bhd, the country’s youngest telecoms operator.

Last Wednesday, BAssets saw 80 million shares or a 6.7% stake traded off market. Bloomberg data shows that the shares were traded in five blocks, all at RM1 per share or RM80 million in total. The trades — one block of 20.22 million shares, one of 17 million shares, two of 19 million shares each and one of 4.77 million shares — were done between 3.30pm and 4.30pm.

Year to date, BAssets’ share price has risen 30%. The stock closed at RM1.18 last Thursday, giving the company a market capitalisation of RM1.4 billion.

Mercury Securities, the only research house covering BAssets, has a “buy” call on the stock, with a target price of RM1.62. This represents an upside potential of 37%.

BAssets saw its net loss narrow to RM11.11 million in the financial year ended June 30, 2017, from RM54.12 million previously.
http://www.theedgemarkets.com/artic...e-interested-bassets-land-reclamation-project
 
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