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Discussion Starter · #1 ·
Bangunan MAS to become hotel, apartment complex
By Hamisah Hamid

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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Discussion Starter · #2 ·
PNB plans to tuen MAS building into hotel
Bernama

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.
 

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Discussion Starter · #5 ·
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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Bangunan MAS to be upgraded
Thursday October 21, 2010
http://biz.thestar.com.my/news/story.asp?file=/2010/10/21/business/7267666&sec=business

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) is planning to upgrade Bangunan MAS into a Grade A++ office building and a new five-star hotel apartment block will be added on the site, said president and group chief executive Tan Sri Hamad Kama Piah Che Othman yesterday.

PNB bought the 35-storey building on Jalan Sultan Ismail from Malaysia Airlines (MAS) three years ago for RM130mil.

Hamad said the former MAS headquarters would be refurbished and leased out for recurrent income.

It is believed the hotel will have world-class standards and will be operated by a professional hotel group.
 

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Start asap ...

Ahmad Zaki gets RM673mil job to construct a 50-floor hotel in KL

4-10-2012



PETALING JAYA: Ahmad Zaki Resources Bhd (AZRB) has received a letter of award from Permodalan Nasional Bhd for a RM673mil contract to construct a 50-floor hotel in Kuala Lumpur.

Work is expected to be completed in October 2017 and to contribute positively to AZRB Group's earnings and the net tangible assets for the financial years ending 2012 to 2017.


More: http://biz.thestar.com.my/news/story.asp?file=/2012/10/4/business/12122474&sec=business
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AZRB to redevelop Bangunan MAS

4-10-2012


KUALA LUMPUR: Ahmad Zaki Resources Bhd (AZRB) has won a RM673 million job to redevelop Bangunan MAS in Jalan Sultan Ismail here.

The contract was awarded by Permodalan Nasional Bhd (PNB), Ahmad Zaki said in a statement to Bursa Malaysia yesterday.

PNB bought the 35-storey building from national carrier Malaysia Airlines about five years ago for RM130 million.

Ahmad Zaki will demolish an existing podium at the 35-storey building, build a 50-storey hotel and upgrade the existing 35-storey office building.

The hotel will also have six-storey basements for car park and mechanical and electrical service area.

Construction is expected to be completed by October 2017, the company said.

More: http://www.btimes.com.my/articles/jrzaki/Article/#ixzz28HtjMDu4
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