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Thinkproperty Blog
Thinking Allowed!
Extract from Business Times (03/02/2012)
KUALA LUMPUR: Sime Darby Property Bhd has won two awards for outstanding achievements in the property development sector in Malaysia and Southeast Asia.
It bagged the BCI Asia Awards 2011, the second consecutive year that it has won the honour. The award covers Malaysia, Hong Kong, Indonesia, the Philippines, Singapore, Thailand and Vietnam.
Sime Darby Property managing director Datuk Wahab Maskan said it was an honour to be one of the top 10 developers in Asia and to be acknowledged for its sustainable efforts in Malaysia.
"These awards reflect the appreciation of society and customers for our efforts to provide sustainable development for our stakeholders. We will continue to work even harder to be the preferred developer in the region," he said.
Extract from Borneo Post (1/02/2012)
KUCHING: Sentoria Group Bhd (Sentoria), a property developer and resort operator will use a portion of the proceeds of its initial public offering (IPO) for the development of Bukit Gambang Safari Park.
In its press release yesterday, the group aimed to raise RM51.6 million, of which RM27.7 million would be allocated for working capital, RM11.2 million for repayment of bank borrowings, RM9 million for purchase of property, plant and equipment, and the balance RM3.7 million to defray listing expenses.
Sentoria’s IPO entailed a public issue of 60 million new ordinary shares an offer-for-sale of 40 million promoter’s shares.
Of the 60 million new ordinary shares under public issue, 20 million were allocated for public balloting and 10 million shares for eligible directors, employees and business associates of the group at IPO price of RM0.85 per share.
Extract from Bernama (31/01/2012)
KUALA LUMPUR: Syarikat Perumahan Negara Berhad (SPNB) will complete 10,000 houses through the "Projek Mesra Rakyat" affordable housing scheme by the end of this year with an estimated cost of RM650 million.
SPNB chairman Datuk Idris Haron said the project would be implemented through the Industrial Building System (IBS) wholly funded by Bank Simpanan Nasional, targeting 1,000 units a month.
"We have tied up with the Construction Industry Development Board (CIDB) to provide assistance on the IBS to 300 class F contractors in phase one of the project," he said.
"The first part would involve transfer of knowledge on the technology in Negeri Sembilan, Melaka, Selangor and Perak, before its expanded to the whole country," he said after declaring open a seminar on the IBS Technology for Class F contractors at the CIDB Convention Centre here, Tuesday.
Extract from Bernama (31/01/2012)
KUALA LUMPUR: Online property group, iProperty Group today launched its new mobile strategy and development team to deliver better mobile products and solutions for property buyers and investors in Malaysia, Hong Kong, Indonesia and Singapore.
In a statement today, iProperty said the team will be working to deliver innovative solutions to increase the group's presence on all non-computer platforms comprising mobile phones, smartphones, tablets, smart televisions and other devices.
iProperty Group's Chief Executive Officer, Shaun Di Gregorio, said with the right tools at their disposal, consumers would be able to make quicker and better decisions when deciding on their next or first property investment.
Headquartered in Kuala Lumpur, the iProperty Group is listed on the Australian Securities Exchange and operates 18 property websites around the region.
Extract from Bernama (30/01/2012)
KUALA LUMPUR: The Federal Territory and Urban Well-being Ministry is targeting to buy 35,000 houses through the special funding scheme for houses under the National Economic Action Council's People Housing Programme and the City Hall public housing programme this year.
Its minister, Datuk Raja Nong Chik Raja Zainal Abidin, said through the scheme, those eligible could buy apartments for between RM25,000 and RM35,000.
"They only have to repay between RM150 and RM300 a month for 25 years," he told reporters at a tea reception with taxi drivers at the Kerinchi People's Housing Project attended by more than 200 Klang Valley taxi drivers.
The scheme, announced by Prime Minister Datuk Seri Najib Tun Razak last Saturday, will begin on March 1.
Extract from Business Times (30/01/2012)
KUALA LUMPUR: Trinity Corporation Bhd (TCB) has proposed additional collateral to the holders of the balance of its RM84.65 million Sukuk Al-Ijarah in the form of sales proceeds of 40 units of shop offices at Saujana Putra totalling RM40 million, arising from a proposed joint venture.
This is in addition to the existing securities in the form of the balance of three commercial buildings, namely Midpoint Shopping Complex, Menara Maxisegar Commercial Building and Pandan Kapital Shopping Complex.
The company issued the RM150 million sukuk in January 2005.
Extract from Business Times (30/01/2012)
HOTELS in Malaysia, particularly those in the Kuala Lumpur City Centre, are expected to fill more rooms this year, says the Malaysian Association of Hotels (MAH).
Hotels within the Kuala Lumpur city centre could finish the year at an average occupancy rate of 68 per cent, up from 65 per cent in 2011, said MAH vice-president Ivo Nekvapil.
"This year should be stronger than last year... I do not foresee a dramatic drop in the number of arrivals," Nekvapil told Business Times.
"Asia is very strong, China business is strong, too, and India (performance) is coming along great," he said.
Extract from Business Times (30/01/2012)
KUALA LUMPUR: Malaysian Rating Corporation Berhad (MARC) has affirmed its rating on DutaLand Berhad’s (DutaLand) outstanding RM20,649,024 Redeemable Unsecured Loan Stocks (RULS) at B with a stable outlook.
The rating action incorporates DutaLand’s improving operating performance, underpinned by a higher contribution from its plantation division that has offset weaker earnings from its property development activities, and its reliance on asset disposals to generate liquidity to meet its significant financial commitments.
DutaLand’s major property project, the 73-acre Kenny Heights Development, which is located in the Sri Hartamas vicinity in Kuala Lumpur and jointly undertaken with a related company, Olympia Industries Berhad, has seen slower-than-expected progress due partly to liquidity constraints.
As of date, only one project consisting of 49 units of 4-storey villas with a gross development value of 216.0 million ringgit was completed and handed over in April 2011.
Extract from Bernama (26/01/2012)
KUALA TERENGGANU: The Terengganu government encourages developers in the state to incorporate traditional elements in their projects, its Menteri Besar Datuk Seri Ahmad Said said.
He said the existence of these buildings would provide a fresh perspective in the state's development landscape.
The state government would not force them to do so but would encourage creativity in their development projects, he said.
"We've instructed the Kuala Terengganu City Council and the local authorities to build buildings with traditional concept," he told reporters after accompanying Sultan of Terengganu Sultan Mizan Zainal Abidin for a visit at the city council today.
Extract from Bernama (26/01/2012)
KUALA LUMPUR: The Federal Territories and Urban Well-being Ministry will launch the Federal Territory Foundation in March to help tenants of the People's Public Housing Project (PPR) and Public Housing Project (PPA) buy their own homes in the capital.
Its minister, Datuk Raja Nong Chik Raja Zainal Abidin said the foundation, a collaboration between the ministry and the Employees Provident Fund (EPF), would provide a loan up to RM35,000 to applicants.
"The foundation will assist PPR and PPA tenants, particularly DBKL Public Housing tenants to purchase a more comfortable home.
"We know that sometimes banks are reluctant to give out loans due to factors like affordability to service the loan, applicant's age or blacklisted name," he told Bernama after giving an interview in the "Ala-Carte Pagi" programme on Bernama Radio24 here Thursday.
Extract from Business Times (26/01/2012)
WITH a higher buyout offer in place and an assurance that its chief Tan Sri Liew Kee Sin will continue to helm the company, SP Setia Bhd's stock climbed to an almost six-month high yesterday.
State investor Permodalan Nasional Bhd (PNB) roped in Liew as a joint bidder and improved on its last September solo bid of RM3.90 a share for the property developer last Friday.
The joint bidders are now offering RM3.95 for each SP Setia share and 96 sen for each warrant, instead of 91 sen before.
The stock rose by 1.5 per cent to close at RM3.94 yesterday, off an intra-day high of RM3.97.
Extract from Bernama (25/01/2012)
ALOR SETAR: The Housing and Local Government Ministry is to build 38,000 units of houses under the People's Housing Project under the 10th Malaysia Plan (2011-2015), Minister Datuk Chor Chee Heung said today.
He said many of the houses are under construction and they are being built in Sabah, Selangor, Pahang and Kelantan.
"We also had an application from Kedah but the request could not be met because no land is available. If the state government provides the land, we will build the houses there," he told reporters after the presentation of 1Malaysia People's Aid (BR1M) vouchers, here.
Chor said the completed houses would be handed over to the local authorities or the state government to manage the sale and rental.
Extract from Bernama (25/01/2012)
IPOH: The Perak state government has urged the Department of Civil Aviation (DCA) to review its ban on construction of tall buildings in Ipoh as it would affect development, said Menteri Besar Datuk Seri Dr Zambry Abdul Kadir.
He said the regulation enforced since the 1950s obstructed the state government's efforts to develop Ipoh into a modern city.
"The state government urges the DCA to revise this ban so that we can turn Ipoh into a city with recognizable landmarks, including tall buildings. We understand tall buildings cannot be build near the airport due to safety reasons.
"But that ruling should not apply to surrounding areas of Ipoh," he told reporters after chairing a state exco meeting here Wednesday.
Extract from Bernama (25/01/2012)
KUANTAN: The Majlis Ugama Islam dan Adat Resam Melayu Pahang (MUIP), the council for Islamic religion and Malay traditions in the state, is still in discussions with the management of Hotel MS Garden Kuantan on MUIP's proposal to acquire the hotel, said Tengku Mahkota of Pahang, Tengku Abdullah Sultan Ahmad Shah.
Tengku Abdullah who is also the Chief of MUIP said the plans to acquire the hotel would be through loans and no definite decision has been taken to use zakat money for the acquisition.
"We would try not to use zakat money. We will assess our affordability, there may be a need for a loan to buy the hotel. For me, we need to resolve the financial matter first, and we will make the effort to ensure that we do not use the zakat money," he said.
He was speaking to reporters here today after visiting the family of two children who had drowned while swimming at Pantai Sepat in Sungai Isap near here last Sunday.
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House Model: LOUVRE Lot Area: 236 Floor Area: 158.68 3BD/3TB TCP: 8,342,500
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Posted by Danilo Sorilla in Untagged
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HOUSE MODEL: Tarragona Lot Area: 419sqm Floor Area: 178sqm TCP: 13,088,370
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Posted by Danilo Sorilla in Untagged
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House Model: MARBELLA Description:
Marbella, new house model in Mediterranean Villas in Santa Rosa City, Laguna. Mediterranean Villas House Models Lot Area: 150sqm Floor Area: 94sqm
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Posted by Danilo Sorilla in Untagged
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House Model: MEIJI Lot Area: 600 sq.m.
Floor Area: 526.13 sq.m. TCP: 45,035,980 Description: Meiji will rise at a corner lot facing the Tokyo Mansions clubhouse. This inverted L-shaped mansion features a strikingly simple yet elegant design from the outside. Shingles and wooden rafters give it a Zen character, while tall bamboos line up across the living room to lend the mansion a rural effect.
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Posted by Danilo Sorilla in Untagged
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House Model: LOUVRE Lot Area: 236 Floor Area: 158.68 3BD/3TB TCP: 8,342,500
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Posted by Danilo Sorilla in Untagged
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 House Model: CHAMBORD Lot Area: 225 sq.m.
Floor Area: 251.53 sq.m. TCP: 23,685,000 Description:
Chambord, the first of the model chateaus, takes its inspiration from the loveliest and grandest of the Renaissance buildings in France's Valley of Loire—Chateau de Chambord. This sumptuous palace was inspired by the great Leonardo da Vinci, who was said to have added his own embellishments to the chateau's façade and interiors.
South Forbes' Chambord brings this treasure to the 21st century. The classical rendition of the South Forbes French chateau moves away from the heavy-handed baroque decorations. The result is a modern interpretation of the classics that still has strong ties to tradition and style. It brings sophistication and gracious living of the French Renaissance refined to today's more subtle and restrained tastes.
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