Mah Sing seeks JV with Govt to build affordable homes

Q&A session: Leong (centre) with executive director of corporate and investment Datuk Steven Ng Poh Seng (left) and CEO & executive director Ng Chai Yong briefing reporters after the company’s AGM.

KUALA LUMPUR: Mah Sing Group is currently in talks with the Government with the view of having a tie-up as it looks to further expand its affordable homes portfolio.

Managing director Tan Sri Leong Hoy Kum said the group is looking for more land acquisition and joint venture deals as the property developer was currently sitting on a RM1.1bil cash pile and net gearing of 0.09 times.

He said that the group is currently in discussions to work together with the Government but nothing has been confirmed at the moment.

He added that Mah Sing’s key focus is on affordable housing, and is planning for more products that would suit the mass market.

“The Government has a lot of land so basically it is ideal at this current point as it will benefit both parties,” he said in a media briefing after the group’s annual general meeting yesterday.

Mah Sing is currently looking for land in Greater KL, Klang Valley, Iskandar Malaysia and Seberang Prai and is not looking to venture outside of Malaysia.

“Malaysia will still be the best place for us,” Leong said.

Mah Sing currently has 46 development projects under its belt with 35 already in various stages of development.

“We currently have 2,522ha of existing land bank, which will keep us busy for the next eight years,” Leong added.

The group is intensifying efforts to reach its sales target of RM2.3bil with more upcoming launches in the second half of the year.

“We expect our upcoming launches this year to further add to our sales target. The second half of the year will be an important period and we are up for the challenge,” he said.

He said that Mah Sing’s upcoming launches are receiving good responses from the public and has recorded 4.5 times oversubscription for Cerrado in Bangi as well as Feringghi Residence 2 in Penang.

Commenting on the performance of the group in the first quarter, Leong said that despite a shorter working quarter due to the long festive season, the group has achieved property sales of RM536mil up to Apr 30, 2016.

The group also paid a minimum 40% of net profit as dividend for the 10th consecutive year.

Shareholders also approved a number of resolutions, among them the first and final single-tier dividend of 6.5 sen per ordinary share of 50 sen each in respect of the financial year ended Dec 31, 2015 which translates to an attractive dividend yield of about 4.5%.

As at March 31, 2016, the group’s remaining gross development value and unbilled sales stands at about RM32.26bil.

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Googolplex aims RM3bil sales

PETALING JAYA: Googolplex Properties Sdn Bhd aimed to achieve RM3 billion sales this year, after a prosperous 2015 which sees the company hitting RM1.3 billion sales.

The company headquarter at Jaya One recorded top sales among the seven branches within Peninsular Malaysia, said group chief executive director Christopher Liang in a statement.

Googolplex has established seven branches at Kota Damansara, Seri Kembangan, Ipoh, Kuantan, Johor Bahru and Malacca within the past year.

The local properties sales agency recently held its annual dinner and award night on June 18.

The award categories included One to Five Star Distinction Award, Top Recruiter Award, Top Personal Sales Award, Top Manager Award and Top Branch of the Year Award.

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E&O’s Tamarind property project launch this weekend

Tamarind project: Lau showing the scale model of the RM900mil Tamarind project at E&O’s showroom in Seri Tanjung Pinang.

GEORGE TOWN: Eastern & Oriental Bhd (E&O) will release for registration the second tower of its RM900mil Tamarind project this weekend at its show gallery in Seri Tanjung Pinang, Tanjung Tokong.

E&O marketing and sales general manager (Penang) Christina Lau said the first tower block had registered a 90% take-up rate since its soft launch in February, prompting E&O to open the second block for registration on June 20 and 21.

The Tamarind project will also be officially launched this weekend.

“More than 400 people have registered with us to take up the first block,” said Lau.

“The successful sale of the first block is due to the distinctive E&O brand and the Tamarind’s attractive pricing.

“Selling from RM600,000 per three-bedroom unit of 1,047 sq ft, the Tamarind is definitely a good entry price for young professionals or new homeowners to own an aspirational property by E&O.

“The Tamarind showcases unique facilities to cater to the lifestyle of its residents including a private one-acre waterscape of beach and free-form swimming and wading pools for the family to enjoy,” added Lau.

She said the Tamarind was one of the most sought after address in Penang as it had easy access in Seri Tanjung Pinang to the Straits Quay retail marina, Tesco hypermarket, Straits Quay Convention Centre, Straits Green Public Park, Penang Performing Arts Centre and the 1.6 km seafront promenade.

Located on 6.9 acres, the Tamarind features two blocks of 33 storeys, comprising 1,104 units with three-bedrooms and two bathrooms.

Lau said E&O had also partnered a renowned home furnishing specialist to collaborate on the interior design of its show unit.

“Ikea provides all the furnishings of the show unit. This is the first time a Malaysian developer has worked with IKEA to set up the show units for a project,” she said

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Agreement signed to develop tech park in Seberang Prai

Industrial aspirations: Rosli (right) showing the plan of the area in Byram/Changkat in south Seberang Prai, which will be developed into a high-tech industrial park for small and medium-sized enterprises. With him are Mohd Bakke (left) and Lim. The entire project will cover just over 2,000ha in Seberang Prai.

SIME DARBY Property (Utara) Sdn Bhd and Penang Development Corporation (PDC) are set to develop a high-tech industrial park in south Seberang Prai for small and medium-sized enterprises (SME).

The project is expected to make south Seberang Prai an economic growth centre in Penang, in line with the state government’s plans.

Sime Darby Property signed a memorandum of understanding on the project with PDC at the end of last month.

Chief Minister Lim Guan Eng said the signing marks an important milestone as it symbolises the cooperation and synergy between the Sime Darby and the state’s development agency, for the development of the agricultural area in Byram and Changkat in south Seberang Prai as an industrial park.

He said the collaboration was in line with the state’s emphasis on promoting industrial development and small and medium-sized industries.

“Sime Darby’s plans for developing the land is very much in line with the state government’s aspirations to enhance SMEs,” he said, adding that the Sime Darby SME High-Tech Park will have an estimated gross development value of RM1.8bil.

He noted that under the agreement, both parties would formulate a master plan that was mutually agreed upon.

Under the Byram/Changkat Master Plan, Sime Darby will develop 376.3ha (929.8 acres) of land for SMEs, while PDC will develop 1,625.8ha for heavy industries, SMEs and mixed development.

“Each party is responsible for the environmental impact assessment for their portion of the project,” he told a press conference in Komtar.

Lim added that InvestPenang, the state’s investment promotion agency, would promote Sime Darby and PDC’s portions of the project, including screening companies interested in being located in the park.

Sime Darby Bhd president and group chief executive Tan Sri Mohd Bakke Salleh said the company had long realised south Seberang Prai’s potential as a major industrial area.

“We are confident we will witness the growth of this area in the next eight years. That is why we applied last year to rezone three plots of land in Byram Estate, measuring 376.3ha in total, into industrial land from agricultural land.

“This development will definitely have a positive effect for the area and other sectors of the economy, including housing and hospitality, which will benefit Penang as a whole.

“But most importantly, it will provide more jobs in which new skill sets will be developed,” he added.

Sime Darby Property acting managing director Datuk Jauhari Hamidi, Sime Darby Property senior vice-president Mohd Salem Kailany, PDC general manager Datuk Rosli Jaafar and PDC deputy general manager Chang Wing Mow signed the MoU, witnessed by Mohd Bakke and Lim.

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8 Conlay redefines urban luxury living

Artist’s impression of 8 Conlay, KSK Land’s maiden luxury development.

Kuala Lumpur: KSK Land Sdn Bhd has unveiled its upcoming luxury high-rise development, that boasts a desirable address in the Kuala Lumpur. The firm’s maiden project, 8 Conlay, is an integrated development, comprising branded residences, a 5-star hotel and a retail component located at No. 8, Jalan Conlay.

A renowned Bangkok-based landscape firm, TROP, is designing a tropical rainforest themed landscape for 8 Conlay, marking their first venture in Malaysia. TROP is transforming the 44th level of the conjoined towers into a chic personal space that resembles a tropical rainforest in the heart of city centre. The vertical garden space will portray the idea of a futuristic park that blends architecture and nature.

“We want to create a vertical garden that local residents have never seen before. Our collaboration with TROP is a testimony of our vision to build a quality urban living environment through the clever use of greenery. 8 Conlay is more than just a stylish address; it is a sanctuary for residents to retreat to for the ultimate experience in comfort and style,” says KSK Land Sdn Bhd CEO and managing director Joanne Kua.

“At KSK Land, we dare to be different and are constantly pushing the boundaries to deliver exceptional value for our development. With 8 Conlay, we are redefining urban luxury living through three main elements -  design, architecture and bespoke services,” adds Kua.

Drawing inspiration from Malaysia’s lush greenery and mountainous terrains, the designs were kept simple and clean while having a good balance of private and open spaces. Elements of Malaysia’s majestic trees are reflected in the garden’s strategically placed columns intertwined with lush locally sourced plant species, creating a cosy and private sanctuary for 8 Conlay’s residents to unwind.

“Malaysia is famous for its biodiversity. I was inspired by the country’s lush topography and the tropical forest in the heart of Kuala Lumpur (Bukit Nanas). I intend to design a garden-in-the-sky that resembles a ‘tropical rainforest’ for 8 Conlay. Greenery will be the main element used in this project and we envision having large trees being planted in the surrounding to create a hidden sanctuary for its residents to unwind and relax,” says TROP lead design director Pok Kobkongsanti.

8 Conlay is a mixed development comprising two branded 57-storey and 62-storey residential towers connected via two sky bridges at level 44 and 26, coupled with a 68-storey five-star hotel, as well as a retail component. The two branded residential towers are scheduled for completion by 2019 and will comprise residential units with built-up sizes ranging between 682 sq ft and 1,295 sq ft. These towers will be launched in October 2015.

The four floor retail outlets of 8 Conlay is expected to be completed first, which is by 2018 and this freehold development will be fully functional by 2020.

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Ikhmas Jaya confident of double digit growth

KUALA LUMPUR: Newly listed construction outfit Ikhmas Jaya Group Bhd is confident of achieving double digit growth in net profit for its current financial year ending Dec 31, 2015.

Group managing director Datuk Ang Cheng Siong said the projection is based on existing projects it has currently, as well as potential jobs it is planning to secure.

“We’re tendering for infrastructure jobs, such as construction of roads and development of affordable houses,” he said after the company made its debut in the main market of Bursa Malaysia on Monday.

He added that this was also substantiated based on the company’s earnings in the first quarter of the year.

Ikhmas Jaya posted a 93.4% jump in net profit to RM8.49mil for the first quarter ended March 31, 2015 compared to a year earlier, thanks mainly to the contribution of a railway track project.

The engineering and construction firm said told Bursa Malaysia its revenue rose 35.9% year-on-year to RM76.34mil for the quarter.

The company staged a strong debut on Main Market of Bursa Malaysia on Monday amid  a weaker market.

It opened at 68 sen, up 11 sen from its offer price of 57 sen

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BCorp buys 50% stake in BLand’s Japan project for RM97.3mil

PETALING JAYA: Berjaya Corp Bhd (BCorp) is buying a 50% stake in Berjaya Kyoto Development (S) Pte Ltd (BKyoto) for RM97.3mil.

The seller of the stake is its 58%-owned Berjaya Land Bhd (BLand). After selling half of BKyoto to its parent, BLand will own the remaining 50%.

BCorp will undertake to advance up to RM152.74mil to BKyoto for the purpose of working capital and proportionate settlement of the inter-company loan with BLand.

Resort hotel developer BKyoto owns a five-acre parcel of freehold land, which is 2km from the Kyoto station. The land is also close to tourist attractions.

The Singapore-based firm is developing the land into a commercial project with 123 hotel rooms and 57 residences known as the Four Seasons Hotel & Residences. The project has a gross development value of RM1.05bil, with completion slated for the third quarter of 2016.

Some 45% of the construction work there has been completed.

BCorp said the proposal would provide an opportunity for it to invest directly and own the Four Seasons Project, an iconic luxury hotel and residences in Japan, thereby increasing its landbank and portfolio of the properties owned. In Malaysia, the conglomerate owns the luxury residences “The Ritz-Carlton Residences” to be marketed and managed by Ritz-Carlton Hotel.

BLand said it could reposition its financial resources and commitments to other property projects from the sale.

BLand would gain RM147.9mil from the sale.

BCorp did not expect any material effect on its earnings, net assets and gearing for the financial year ending April 30, 2016.

“However, the proposals are expected to contribute positively to the future earnings of the BCorp Group upon completion of the Four Seasons Project,” it said.

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Negri to have its own Central Park

Green lung planned to be like the ones in London, New York and Paris

SEREMBAN: Seremban will have its very own sprawling Central Park similar to the famous public parks which dot the landscapes in the world’s top cities such as London, New York and Paris.

The 400ha park will form an integral part of the Malaysian Vision Valley (MVV), a 108,000ha multi-billion ringgit project, which will be carried out over the next 30 years.

Mentri Besar Datuk Seri Mohamad Hasan said the Central Park would be similar to the ones in the famous cities where people would be able to mingle, exercise and even carry out recreational activities.

“It will be a green lung where people can go for their walks or to just enjoy the outdoor environment,” he told reporters after chairing the state exco meeting.

Mohamad said that despite having the Central Park, developers would still be required to reserve space for smaller parks in their projects. Citing an example, he said in a 40ha development, a 4ha space must be alloted for recreational parks and another 4ha to build amenities.

However, Mohamad refused to divulge where in the MVV the Central Park would be located. (The MVV will straddle the SerembanPort Dickson-Nilai districts).

Mohamad said he would also brief Prime Minister Datuk Seri Najib Razak Tun Razak on the private sector-driven MVV on July 10.

“The MVV will be a massive development project which will among others have its own commuter and tram services, education and industrial and sports clusters.

“We are planning a city which will rival Kuala Lumpur and be a more attractive place to live and work in,” he said adding that mutlinational companies will also be encouraged to set up operations here as they would be able to build their R&D and campus facilities in the same place.

On a separate matter, Mohamad said the Negri Sembilan government was against the move by the Housing and Local Government Ministry to impose a RM1,000 fine on households that fail to separate their garbage from Sept 1.

He said the people were not prepared for this as the level of awareness on garbage separation and the benefits of recycling was found to be wanting.

“I am sure there are people who will be unhappy with us for opposing this. But we have no choice because we deal with the people every day and we know they are not prepared for this,” he said.

The mandatory practice of separating households garbage will be implemented in Johor, Malacca, Negri Sembilan, Pahang, Perlis, Kedah and the Federal Territory from Sept 1.

Notices will be issued and a maximum compound of RM1,000 will be imposed on those who flout the rule from next year.

Under the move, each household must separate their recyclable items in separate transparent plastic bags while regular wastes such as food and organic wastes can be placed into plastic bags.

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UDA plans to launch RM2bil projects in Penang

BUTTERWORTH: UDA Holdings Bhd (UDA) plans to launch three projects in Penang this year with a Gross Development Value (GDV) close to RM2 billion.

Group Chief Operating Officer for Property Development Datuk Mohamed Marzuk Basir said the projects were an integrated commercial and residential development with a GDV of RM1.2 billion, lifestyle project in Bertam worth RM600 million and two blocks of apartments, on wakaf land, with a GDV of RM23 million.

“Shop offices under the Arcaria series would be launched next month with selling prices of between RM800,000 and RM1.6 million involving 114 units,” he told reporters after breaking fast with 70 orphans from Pusat Inapan Kasih Sayang, last night.

Mohamed Marzuk said UDA would also launch a 300 unit apartment project, priced between RM390,000 and RM450,000 per unit.

He said there was demand for the Arcaria project, however, potential buyers faced difficulty in securing loans as a result of tight lending policies by Bank Negara Malaysia.

He said UDA was working with several banks by presenting them the merit of the project, as well as, offered packages with furniture or electrical items to attract buyers.

Mohamed Marzuk said a gated and guarded lifestyle project would be launched in Bertam, worth RM600 million, consisting of double and three-storey bungalows.

He said the 68-unit apartment project on wakaf land would be a collaboration with the Penang State Religious Council and would be launched next month.

Besides Penang, Mohamed Marzuk said UDA also planned to launch shop offices and serviced apartment, a project in collaboration with Perak State Religious Council in Ipoh, Perak, early next year with a GDV of RM32 million.

He said UDA would also partner the Perlis State Economic Development Corporation this year to develop an integrated project in Kangar consisting of a 12-storey office building, shopping mall and shop offices with a GDV of RM106 million.

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Stylish living in the heart of PJ

Impressive: An artist’s impression of PJ Midtown development by IOI Properties and Sime Darby Brunsfield. The project will be showcased at the StarProperty.my Fair 2015 at Gurney Plaza and G Hotel from July 9 to July 12.

A SIGNIFICANT number of sophisticated real estate dot the landscape of Petaling Jaya, thanks to rapid urbanisation.

One example is PJ Midtown, located in the heart of Section 13, Petaling Jaya.

An integrated development of retail units and trendy serviced suites stretching across 5.5 acres, the project is the result of collaboration between IOI Properties and Sime Darby Brunsfield.

Offering myriad lifestyle, leisure and recreational facilities, the project is scheduled for completion in 2018.

PJ Midtown offers 758 contemporary serviced suites in three designs: the three-bedroom Type A (1,200sq ft), the two-bedroom Type B (900sq ft) and the one-bedroom Type C (600sq ft).

The homes feature spacious interiors and a harmonious blend of earthy tones, setting the mood for practical yet stylish living.

Each unit will also be furnished with modern appliances, built-in cabinets and exclusive fittings.

Security is always on everyone’s minds, and PJ Midtown delivers it through 24-hour security surveillance, smart card access, a digital lock-set at every unit’s entrance, intercom facilities and panic buttons.

PJ Midtown is at the centre of Petaling Jaya’s commercial hub, complemented by an array of amenities, corporate offices, leisure and entertainment facilities within easy commuting distances.

Prospective homebuyers can choose to shop at Jaya Shopping Centre, receive healthcare treatment at Columbia Asia Hospital or take the public transport at Asia Jaya LRT Station.

An addition to the public transportation system is the Phileo Damansara MRT Station, currently under construction and only three minutes away.

PJ Midtown is also Green Building Index (GBI) Gold compliant, having state-of-the-art energy management and rainwater harvesting systems.

The development offers an unparalleled experience in city-living, with its sky terrace boasting a spectacular panoramic view of the Klang Valley skyline.

Among its highlights is the bright and airy centre courtyard at the heart of the development that serves as an excellent meeting point or social gathering place.

PJ Midtown will be featured in the StarProperty.my Fair at Gurney Plaza and G Hotel from July 9 to 12 between 10am to 10pm.

The StarProperty.my Fair, now into its 14th year, is the grandest property showcase in the northern region.

This year, more than 40 exhibitors will be taking part in the four-day fair.

Visitors can also attend talks and forums conducted by specialists in their fields to get useful information on property-related topics.

Admission is free and visitors stand a chance to win more than RM100,000 worth of prizes daily including five tablets and handphones and lots of other attractive prizes.

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1MDB Real Estate to work with group to develop Bandar Malaysia

An artist’s impression of Bandar Malaysia.

KUALA LUMPUR: 1MDB Real Estate Sdn Bhd (1MDB RE)will work with one or a few consortium to develop the 486-acre Bandar Malaysia, said C.H. Williams Talhar & Wong, its transaction advisor in a press briefing.

The property consultancy’s deputy managing director Danny Yeo said 1MDB RE is open to discussion at this point in time. C.H. Williams is inviting expressions of interest from parties who will work with 1MDB on an equity basis.

The expressions of interest ends on July 10.

1MDB RE executive director, corporate services Mohd Zakir Omar was present at the briefing.

Yeo said the development would take 20 to 30 years depending on market conditions.

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Tips on investing overseas

ONE can consider investing in overseas properties instead of relying on mutual funds or fixed deposits.

“In Malaysia, inflation is high and rental yield is low. Affordability is also at an all-time low with the ringgit falling and oversupply of local properties.

“Overseas investment of properties such as in Australia and UK can be a better choice,” said MIG Network Sdn Bhd chief executive officer Datuk Brian Wee in his talk ‘Is Overseas Property a Better Choice to Invest In With Falling Ringgit and Oversupply of Local Property?’ at the recent Star Property Fair 2015.

“Make sure you get positive rental yield to at least cover repayment.

“Do not settle for anything lower than 6%,” he said.

Feng shui master David Koh from the Malaysian Institute of Geomancy Sciences, in his talk ‘External Environology (feng shui)’, said the thinking brain is influenced by an unseen vibrating energy in the space where one works and lives, which in turn influences the thinking brain to think and decide.

“The clue is to work on how to get the right energy to suit oneself through environology,” he said.

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Strong demand for Acacia homes at Serene Heights Bangi

Prospective purchasers inspecting the overall Serene Heights Bangi township development’s scale model

UEM Sunrise Berhad  unveiled 274 double-storey terrace homes for the Serene Heights Bangi development. This marks the developer’s second venture in the state of Selangor in addition to its joint venture project in Bukit Jelutong, Shah Alam. The double-storey terrace homes worth RM180.7 million in GDV received a highly encouraging response during its sales launch on June 27 and 28 at the Serene Heights Bangi Sales Gallery.

The double-storey terrace homes introduced during the launch will be situated in two individual precincts; where a total of 121 units will be in Acaciawhile the remaining 153 units will be in Begonia.

Acacia homes’ lot sizes are 22’ x 70’ each, and priced from RM550,800 for intermediate units (2,143 sq ft), from RM645,800 for end lot units (2,221 sq ft) and from RM919,800 for corner lot units (2,837 sq ft). All units were all snapped up during the two-day launch.

There are still units available in the Begonia precinct. Purchasers have an option of 22’ x 70’ lot size, priced from RM636,800 onwards for intermediate units (2,204 sq ft) and from RM739,800 onwards for end/corner lot units (1,803 sq ft – 2,821 sq ft); or 22’x75’ lots that are priced from RM677,800 onwards for intermediate units (2,347 sq ft) and from RM781,800 onwards for end/corner lot units (2,380 sq ft – 2,756 sq ft).

There are still units available in the Begonia precinct. Prices start from RM636,800.

Both Acacia and Begonia precincts are part of the overall 448-acre Serene Heights Bangi development with a GDV of RM3.2 billion and is expected to take approximately 10 years to complete. Serene Heights Bangi is nature-inspired environment and it is located 38km south of Kuala Lumpur.

The township can be accessed via three highways, from North-South Highway (PLUS) by exiting the Bangi or Putra Mahkota interchanges; Kajang-Seremban Highway (LEKAS) at Semenyih interchange; or via the Silk Highway at Kajang interchange via Jalan Reko.

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