Blog Entries for Thinkproperty.my News Team

Advertisement: Banyan Close @ Bandar Bukit Mahkota

ella@thinkproperty.my — Thu, 29 Jul 2010 08:43:06 +0100

Advertisement: Vasana 25 @ KLCC

ella@thinkproperty.my — Thu, 29 Jul 2010 08:18:52 +0100

MRCB Will Consider Setting Up REIT, Says CEO

ella@thinkproperty.my — Thu, 29 Jul 2010 07:41:33 +0100

Extract from The Star (29/07/10)

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) will consider injecting some of its properties into a real estate investment trust (REIT) as part of the company’s growth strategy, said chief executive officer Mohamed Razeek Hussain.

“REIT has never been (far) away from our minds. It is a strategy that we might employ in the future, perhaps in the mid to long term.

“We are strengthening our balance sheet t [...]

Ivory Hopes To Expand To KL Soon

ella@thinkproperty.my — Thu, 29 Jul 2010 07:37:40 +0100

Extract from The Star (29/07/10)

KUALA LUMPUR: Penang-based Ivory Properties Group Bhd, which made a strong debut on the Main Market of Bursa Malaysia yesterday, hopes to expand its operations to Kuala Lumpur in the near future, said its chairman and group chief executive officer Datuk Low Eng Hock.

“Our company’s strength lies in enhancing land value and maximizing its return. We have been doing this in Penang for the past 10 years, and hopefully with the [...]

Outlook For KL Office Market Remains Soft

ella@thinkproperty.my — Thu, 29 Jul 2010 07:33:25 +0100

Extract from The Star (29/07/10)

Average rental rates facing downward pressure going forward

PETALING JAYA: The Kuala Lumpur office market is expected to remain soft for at least the next six months, with average rental rates facing downward pressure, including for some prime office buildings, property consultants said.

DTZ Nawawi Tie Leung executive director Brian Koh said with the large incoming supply of new office space, especially in the next two years [...]

IJM Land�s Waterfront Project Sees 50% Take-Up Before Launch

ella@thinkproperty.my — Thu, 29 Jul 2010 07:00:39 +0100

Extract from The Edge (28/07/10)

GEORGE TOWN: IJM Land Bhd’s latest addition to the RM5.5 billion The Light Waterfront project — The Light Collection 1 — with a gross development value of RM203 million has seen a 50% take-up rate even before its official launch this weekend.

The Light Collection 1 is the third chapter of the larger development, after the launch of the Light Linear and Light Point in 2009. It will also be the first to feature the wate [...]

Ivory Makes 15 Sen Premium Debut On Bursa Malaysia

ella@thinkproperty.my — Thu, 29 Jul 2010 06:56:10 +0100

Extract from Bernama (28/07/10)

KUALA LUMPUR -- Penang-based Ivory Properties Group Bhd made its debut today on the Bursa Malaysia Main Market with a 15 sen premium over its offer price of RM1.

At the opening bell, the counter opened at RM1.15 with 26,897 lots changing hands.

Its Group Managing Director, Datuk Low Eng Hock who was happy with the company's debut share price performance said going forward, the company was ready to take on more challenging [...]

Dewan Negara: Felda's Cash Position Doesn't Reflect Asset Value

ella@thinkproperty.my — Thu, 29 Jul 2010 06:51:23 +0100

Extract from Bernama (28/07/10)

KUALA LUMPUR -- Felda's cash position that saw a drop from RM4.08 billion on Dec 31, 2004 to RM1.35 billion at the end of last year does not reflect the true value of the land development authority's entire assets, the Dewan Negara was told Wednesday.

Deputy Minister in the Prime Minister's Department Datuk Ahmad Maslan said the reduction in cash position was due to expenditures and disbursement of allocations to develop the [...]

Mutiara Goodyear To Maintain Dividend Trend

ella@thinkproperty.my — Thu, 29 Jul 2010 06:46:46 +0100

Extract from Bernama (28/07/10)

KUALA LUMPUR -- Property developer Mutiara Goodyear Development Bhd is confident to maintain its dividend payment trend despite the adoption of Issues Committee (IC) Interpretation 15 Agreements.

"We welcome the early adoption of IC Interpretation 15 as it streamlines and simplifies revenue recognition," Executive Chairman Hamidon Abdullah said in a statement on Wednesday.

IC Interpretation 15 dictates that revenue [...]

MRCB, Affin Investment Seal Deal On RM400 Million Guaranteed CP/MTN

ella@thinkproperty.my — Thu, 29 Jul 2010 06:41:07 +0100

Extract from Bernama (28/07/10)

KUALA LUMPUR -- Malaysian Resources Corporation Bhd's subsidiary MRCB Sentral Properties Sdn Bhd has appointed Affin Investment Bank Bhd as the principal adviser and lead arranger for its RM400 million commercial papers/medium term notes (CP/MTN) programme, which will be guaranteed by Danajamin Nasional Bhd.

Chief Executive Officer Mohamed Razeek Hussain said the financing is being raised for the development activities of its KL Sen [...]

Advertisement: Qube @ Shah Alam, Selangor

ella@thinkproperty.my — Wed, 28 Jul 2010 08:20:31 +0100

Size Not The Only Factor For Success Of REITs

ella@thinkproperty.my — Wed, 28 Jul 2010 08:02:39 +0100

Extract from The Star (28/07/10)

Analysts say other factors count too, such as management and asset quality

KUALA LUMPUR: The two major real estate investment trusts (REITs) listed on Bursa Malaysia this month - Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT), may have boosted the profile of Malaysian REITs (MREITs) and capture the attention of local and foreign investors, but size does not necessarily guarantee a better performance [...]

IJM's The Light To Contain World-Class Appeal

ella@thinkproperty.my — Wed, 28 Jul 2010 07:52:07 +0100

Extract from Business Times (28/07/10)

A PERFORMING arts centre to rival Australia's Sydney Opera House, waterfront retail promenade and an international standard marina are among the attractions property developer IJM Land Bhd will unveil when it launches the second phase of its flagship waterfront "The Light" development in Penang at the end of the year.

Its managing director Datuk Soam Heng Choon yesterday said the proposed iconic arts centre, known [...]

Milux�s Unit Sells Land For RM11m

ella@thinkproperty.my — Wed, 28 Jul 2010 07:41:58 +0100

Extract from The Edge (27/07/10)

KUALA LUMPUR: Milux Corp Bhd’s wholly owned subsidiary, TH Hin Sdn Bhd, entered into a sale and purchase agreement (SPA) with Albert Wines & Spirits (M) Sdn Bhd yesterday to dispose of a piece of vacant land in Kota Damansara, Petaling Jaya, for RM10.98 million.

In a Bursa Securities filing, the group said the piece of vacant industrial land measuring about 10,627 sq meters had a lease tenure of 60 years expiring on Feb [...]

REIT Growth Is Key To Capital Gains

ella@thinkproperty.my — Wed, 28 Jul 2010 07:14:20 +0100

Extract from The Edge (27/07/10)

KUALA LUMPUR: The Edge Financial Daily yesterday wrote on the weak price performance of the two newly listed REITs, Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT).

It highlighted the fact that while capital gains for REITs may not be strong, the total returns for shareholders is very decent after adding back dividends or distribution per unit. All Malaysian REITs, even those now trading below IPO [...]

Buying For The Future

ella@thinkproperty.my — Wed, 28 Jul 2010 06:38:26 +0100

Extract from The Star (27/07/10)

THE realization that real estate can be a great platform to create wealth for future generations has spurred many to take the plunge at the just-concluded Star Property Fair 2010 in Penang, according to Henry Butcher Malaysia (Penang) director Dr Jason Teoh.

Total sales throughout the three-day fair at G Hotel and Gurney Plaza was estimated at over RM80mil, with Teoh postulating that many decided to purchase their dream homes or make [...]

Settle Land Conversion Premium, Industrial Lot Owners Urged

ella@thinkproperty.my — Wed, 28 Jul 2010 06:28:17 +0100

Extract from The Star (27/07/10)

ALL industrial lot owners at the Sungai Penaga Industrial Park have been urged to pay up their land conversion premium before the Aug 24 deadline so that the industrial area can be legalized.

“Paying the premium to convert the land status from agricultural to industrial is the first step towards legalizing the industrial park in USJ1, Subang Jaya,” said Selangor New Village Development and Illegal Factory Task Force Committ [...]

Buying A Home: A Few Problems To Watch Out For

ella@thinkproperty.my — Tue, 27 Jul 2010 08:19:05 +0100

Extract from The Star (26/07/10)

PROBLEMS concerning car parking lots and transfer of strata titles are some of the things purchasers of high-rise property should watch out for before they sign any sales and purchase agreement.

Lee Hishammuddin Allen & Gledhill Advocates and Solicitors partner Chia Long Thye said that purchasers of high-rise property must ensure that the parking lot that they paid for appeared as an accessorised parcel in the sales and purchase [...]

RM50mil Deals Made

ella@thinkproperty.my — Tue, 27 Jul 2010 08:00:55 +0100

Extract from The Star (26/07/10)

THE three-day Star Property Fair 2010 at G Hotel and Gurney Plaza in Penang concluded with developers estimating total sales at over RM50mil, with many saying they had exceeded their initial sales projections.

They attributed brisk sales to visitors’ eagerness to make their investments now in view of rising prices.

Belleview Group sales and marketing manager Jeffrey Yeap said that as of noon yesterday, they had rak [...]

Starhill Global REIT Gets RM$1.2bil Loans

ella@thinkproperty.my — Tue, 27 Jul 2010 07:44:15 +0100

Extract from The Star (27/07/10)

SINGAPORE: Starhill Global Real Estate Investment Trust, a Singapore-based investor in retail and office buildings, got S$496mil (RM1.16bil) of three-year loans from five banks, according to a Singapore stock exchange statement.

DBS Holdings Ltd, Oversea-Chinese Banking Corp, Commonwealth Bank of Australia, Societe Generale and ING Groep NV provided the loans, which include a S$50mil revolving credit facility, the statement said.
[...]