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PROUD 2 B MALAYSIAN
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Discussion Starter · #1 ·
Bangunan MAS to become hotel, apartment complex
By Hamisah Hamid Published: 2008/06/27




PERMODALAN Nasional Bhd (PNB) plans to redevelop the Bangunan MAS which it bought from Malaysia Airlines (MAS) two years ago, into a hotel and apartments.

President and group chief executive Tan Sri Hamad Kama Piah Che Othman said work is expected to start soon.

"We hope to do it as soon as possible, once we go through all processes and obtain the necessary approvals," he told reporters after a news conference to announce Amanah Saham Nasional 2 income distribution in Kuala Lumpur yesterday.

PNB had bought the 35-storey building located at Jalan Sultan Ismail, Kuala Lumpur, for RM130 million.


The 21-year old building was the former headquarters for the airline.

Hamad Kama Piah said the development cost for the project has yet to be finalised. He also did not say if the new properties would be in the high-end segment.

PNB started to grow its property assets about 10 years ago. Its holdings are made up of office buildings, resorts, serviced apartments, shopping complexes and retail outlets, among others.

Besides Bangunan MAS, other buildings directly owned by PNB in Kuala Lumpur include Menara PNB, PNB Darby Park, Menara Tun Ismail Mohamed Ali, Wisma KPMG and PNB Damansara.
 

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PROUD 2 B MALAYSIAN
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Discussion Starter · #2 ·
PNB plans to tuen MAS building into hotel


KUALA LUMPUR: Permodalan Nasional Bhd (PNB) intends to convert the 35-storey Malaysia Airlines building in Jalan Sultan Ismail here into a hotel or apartments.

Group president and chief executive officer Tan Sri Hamad Kama Piah said a study on the proposal would be completed soon.

“We hope to undertake the project as soon as possible,” he told reporters yesterday after a ceremony to announce the Amanah Saham Nasional 2 income distribution.

PNB bought the buildingfor RM130mil two years ago. – Bernama
 

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Hopefully PNB is clever enough to try to sale/lease the building to Accor Hotels Group, who has been making a firm statement that they are going to open a Sofitel and a Pullman hotels in Kuala Lumpur. Or as a matter of fact, any reputable international hotel chains who are keen to establish a present in Kuala Lumpur, considering the building's prime location.

If Dato Seri Anthony Fernandes is kiasu enough, he may purchase/lease the building and convert it into a flagship 30 storey Tune Hotel, and market it as AirAsia's largest conquest over Malaysia Airlines' asset. :)
 

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THE OLD NEWS

MAS to sell iconic HQ
Monday, January 16, 2006

(AFP) - Malaysia Airlines is moving to sell its headquarters on prime land in the capital as part of plans to restructure the troubled national carrier, a report says.

The headquarters will be sold under closed tender with a reserve price of 130 million ringgit (34.76 million dollars), the Star daily newspaper reported.

The airline's property department said it would accept the highest bid and best payment terms.

"The company is also meeting individual parties who have expressed the intention to buy the property directly," a department official was quoted as saying.

The sale of the 35-storey building in the city centre comes despite opposition last month from members of parliament's upper house, who consider the headquarters a Malaysian icon.

Ten property agents have been asked to invite interested parties to bid in a move that comes after the loss-making carrier reportedly asked most of its staff to move from the 20-year-old building.

"We will invite interested buyers and negotiate on their behalf. This is a closed bid and we can submit any proposal," one of the appointed property agents told the newspaper.

The sale is part of restructuring moves by airline managing director Idris Jala who is expected to detail the plans next month.

The government has reportedly said it will not interfere in the loss-making carrier's management decisions.

Malaysia Airlines ended 2005 in a troubled state after posting two consecutive quarters of losses, and faced calls for costs to be slashed and better contingency plans to be made for rising fuel prices.
 

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PNB CONSIDERS PLAN TO BUILD HOTEL IN KUALA LUMPUR
June 26 2008

KUALA LUMPUR, June 26 (Bernama) -- Permodalan Nasional Bhd (PNB) intends to convert the 30-storey Malaysia Airlines building in Jalan Sultan Ismail here into a hotel or apartments.

PNB group president and chief executive officer Tan Sri Hamad Kama Piah said today a study on the proposal would be completed soon.

"We hope to undertake the project as soon as possible," he told reporters after a ceremony to announce the Amanah Saham Nasional 2 income distribution.

PNB bought the building, which is also the national carrier's headquarters, for RM130 million two years ago. -- BERNAMA
 

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If Dato Seri Anthony Fernandes is kiasu enough, he may purchase/lease the building and convert it into a flagship 30 storey Tune Hotel, and market it as AirAsia's largest conquest over Malaysia Airlines' asset. :)
hahahahha I wonder if that would actually happen. Certainly gave me a laugh & a half.

Im thinking that the ideal hotel for that area would be a lower cost but high quality brand offered by Accor - Ibis for example....

Cheers, m
 

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Proposed Upgrading And Refurbishment Of Bangunan MAS,
JaLan Sultan Ismail, Kuala Lumpur




hmm..a condo behind that tower???
ermm quite yucky... imagine painted green building in the middle of CBD



if i'm not mistaken this was proposed before decades agooo
 

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Right smack in the middle of the golden triangle !!The current state of the building its a shame,If its no longers malaysian airlines they might as well bring down the logo!!It tend to reflect the current state of how the airline is doing!!!Hotel might be a good alternatif!!
PNB is buying up these type of buildings in KL then leave it empty or renting it out to GLC or even government agencies.
 

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Discussion Starter · #18 ·
PNB seeks nod to convert MAS building
Published: 2009/03/24





PERMODALAN Nasional Bhd (PNB) plans to seek approval from the authorities to convert the Malaysia Airlines building in Jalan Sultan Ismail in Kuala Lumpur into a hotel or apartments.

"We already know what we want to do, but we want to make sure all the approval requirements must be made first," said PNB group president/chief executive officer Tan Sri Hamad Kama Piah Che Othman.

He was speaking to reporters after signing the memorandum of understanding with Higher Education Ministry (KPT) on PNB-KPT Investment Bridging Programme today.

Higher Education Minister Datuk Mohamed Khaled Nordin officiated at the ceremony. \
Last year, PNB expressed its interest to convert the 30-storey building, which it bought over three years ago for RM130 million. - Bernama
 

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PROUD 2 B MALAYSIAN
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Discussion Starter · #19 ·
PNB: Bangunan MAS bakal jadi hotel, apartmen

KUALA LUMPUR 24 Mac - Permodalan Nasional Berhad (PNB) bercadang mengubah suai bangunan Malaysia Airlines (MAS) di Jalan Sultan Ismail di sini, untuk dijadikan hotel atau apartmen.

Presiden dan Ketua Pegawai Eksekutif Kumpulan PNB, Tan Sri Hamad Kama Piah Che Othman berkata, pihaknya akan mengemukakan surat permohonan kelulusan projek kepada pihak berkuasa dalam masa terdekat.

"Kami sudah mengenal pasti apa yang hendak dilakukan ke atas bangunan tersebut dan kini berada dalam proses mendapatkan kelulusan. Tetapi kami mahu memastikan syarat-syarat kelulusan dapat dicapai terlebih dahulu.

"Kami berharap projek itu dapat dilaksanakan dengan secepat mungkin, sebaik sahaja mendapatkan kelulusan," katanya.

Beliau berkata demikian selepas menandatangani memorandum persefahaman (MoU) dengan Kementerian Pengajian Tinggi (KPT) bagi Program Investment Bridging PNB-KPT di Menara PNB di sini hari ini.

Pada tahun lalu, PNB menyuarakan minat untuk mengubah suai bangunan setinggi 30 tingkat yang dibeli sejak tiga tahun lalu itu dengan harga RM130 juta.

Ditanya tentang jumlah pelaburan yang akan diperuntukan untuk projek berkenaan, Hamad Kama Piah berkata, ''Sekarang bukan masa yang sesuai untuk membuat pengumuman.''
 

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The Malaysian Airlines Building gets converted to a hotel, gets a new exterior, and a new addition is built to its back?
 
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