Blog Entries tagged 'Business Times'

Dijaya Aims to Launch RM1.1b Worth of Projects

ella@thinkproperty.my — Fri, 10 Feb 2012 09:04:42 +0100

Extract from Business Times (10/02/2012)

PROPERTY developer Dijaya Corp Bhd aims to launch RM1.1 billion worth of projects this year after accumulating land for development in the past 18 months.

Last year, the master property developer of Tropicana Golf & Country Resort and Tropicana Indah Resort Homes in Petaling Jaya only launched RM700 million worth of properties.

"For 2012, we are targeting sales between RM650 million and RM700 million. It is a cons [...]

Foreign Developers Set to Mark Presence at Mapex

ella@thinkproperty.my — Fri, 10 Feb 2012 08:53:06 +0100

Extract from Business Times (10/02/2012)

THE annually-held Malaysia Property Exposition (Mapex) will see the participation of foreign property developers for the first time this year.

Mapex chairman Datuk Ng Seing Liong said up to five foreign property developments in Thailand, Australia, the UK and the Philippines are likely to be featured at the event to be held from March 2 to March 4.

To date, companies with projects in Thailand and the Philippines have regis [...]

Plan for RM13b Danga Bay Waterfront Project

ella@thinkproperty.my — Wed, 08 Feb 2012 08:44:56 +0100

Extract from Business Times (08/02/2012)

JOHOR BARU: Businessman Datuk Lim Kang Hoo, who recently made a privatisation bid for developer Tebrau Teguh Bhd, is planning a more than RM13 billion project at Danga Bay here.

The soon-to-be-launched project is billed as the most exclusive and unique waterfront development in Iskandar Malaysia southern economic corridor over the next five years.

It will spread over 120 hectares at the estuaries of three rivers at the Dan [...]

Sime Darby Property Honoured for Sustainable Development Efforts

ella@thinkproperty.my — Fri, 03 Feb 2012 08:50:00 +0100

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 [...]

Trinity Corp Proposes Extra Collateral

ella@thinkproperty.my — Mon, 30 Jan 2012 09:06:50 +0100

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 Maxis [...]

MAH: Hotels Can Expect Higher Occupancy Rate

ella@thinkproperty.my — Mon, 30 Jan 2012 08:44:33 +0100

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 [...]

MARC Affirms Rating of DutaLand

ella@thinkproperty.my — Mon, 30 Jan 2012 08:32:39 +0100

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 [...]

SP Setia Climbs to 6-Month High

ella@thinkproperty.my — Thu, 26 Jan 2012 09:02:19 +0100

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 [...]

Malaysia Housing Market to Pick Up Steam in First Half

ella@thinkproperty.my — Fri, 20 Jan 2012 08:49:29 +0100

Extract from Business Times (20/01/2012)

THE local housing market is expected to gather steam in the first half of this year, after cautious consumers shunned buying at the end of last year due to global economic uncertainties.

Datuk Seri Michael K.C. Yam, president of the Real Estate and Housing Developers' Association Malaysia (Rehda), said people are more confident on the Malaysian economy now despite uncertainties in developed countries.

Yam said the Econ [...]

Rising Confidence in Property Mart: Napic

ella@thinkproperty.my — Wed, 18 Jan 2012 09:51:26 +0100

Extract from Business Times (18/01/2012)

KUALA LUMPUR: Higher housing starts and building plan approvals last year signify confidence of developers and investors in the development activity, said National Property Information Centre (Napic) director Dr Zailan Mohd Isa.

Some 400,000 transactions valued more than RM100 million were undertaken during the first three quarters of last year.

Zailan said the second quarter of 2011 was the most active period during the p [...]

ETP Mega Projects to Spur Mechanisation Investments: CIDB

ella@thinkproperty.my — Wed, 18 Jan 2012 09:29:38 +0100

Extract from Business Times (18/01/2012)

KUALA LUMPUR: Construction Industry Development Board (CIDB) CIDB expects mega projects under the Economic Transformation Programme (ETP) to spur investments in mechanisation by industry players.

The ETP projects which will be rolled out this year include the Sungai Buloh-Kajang MRT line and development of the 1,200 ha Sungai Buloh land.

CIDB chief executive officer Datuk Seri Dr Judin Abdul Karim said the RM40 billion MRT [...]

Gurney Paragon Set to Welcome RM35m F&B Investments

ella@thinkproperty.my — Tue, 17 Jan 2012 09:15:07 +0100

Extract from Business Times (17/01/2012)

GEORGE TOWN: Penang is set to welcome investments totalling RM35 million this year from food and beverage operators into phase one of the Gurney Paragon development on Gurney Drive.

The project's developer, Hunza Properties Bhd (HPB), has already seen the entry of nine tenants into Phase 1B of its multi-billion ringgit waterfront development with capital investments in excess of RM10 million.

"We are working hard [...]

Work on KB Sentral Project to Take Off in June

ella@thinkproperty.my — Tue, 17 Jan 2012 09:12:16 +0100

Extract from Business Times (17/01/2012)

KOTA BARU: Construction and engineering firm Sara-Timur Sdn Bhd plans to invest up to RM600 million to develop an integrated commercial property project called Kota Baru Sentral@Tunjong in Kelantan.

Chairman emeritus professor Datuk Dr M. Zawawi Ismail said the project, which will feature shopping malls, luxury apartments and condominiums, a convention centre and office blocks, will be developed over three phases on a 16.5ha land in [...]

Johor Corp to Upgrade Hotels for RM40m

ella@thinkproperty.my — Mon, 16 Jan 2012 08:35:11 +0100

Extract from Business Times (16/01/2012)

JOHOR state investment company Johor Corp will spend up to RM40 million to upgrade all its hotel assets to cater to the expected increase in tourist arrivals, which is driven by the opening of several attractions in Iskandar Malaysia.

By end of this year, the RM350 million indoor theme park in Puteri Harbour, which is developed by government investment arm Khazanah Nasional Bhd, will open its doors.

In Nusajaya, Legoland M [...]

Pavilion REIT to Acquire 3 Malls

ella@thinkproperty.my — Wed, 11 Jan 2012 08:40:17 +0100

Extract from Business Times (11/01/2012)

KUALA LUMPUR: En route to a listing, Pavilion Real Estate Investment Trust (REIT) plans to buy three shopping malls, namely the Fahrenheit88, the extension to Pavilion Kuala Lumpur Mall (Pavilion Mall) and a soon-to-be-developed mall in USJ Subang Jaya, within the next two years.

Pavilion REIT Management Sdn Bhd chief executive officer Philip Ho said this is part of Pavilion's growth strategy as outlined in its prospectus.
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Trinity Plans RM640m Projects

ella@thinkproperty.my — Tue, 10 Jan 2012 08:53:39 +0100

Extract from Business Times (10/01/12)

KUALA LUMPUR: Trinity Group Sdn Bhd, a property developer, plans to launch at least four new projects, with a gross development value (GDV) of RM640 million in Kuala Lumpur and Selangor, over the next two years.

Trinity Group founder and managing director Datuk Neoh Soo Keat said the four potential new projects will be in Serdang, USJ (Subang Jaya), Ampang and Taman Melawati.

"We have adequate landbanks for these projec [...]

IHG to Manage KL Holiday Inn Express

ella@thinkproperty.my — Tue, 10 Jan 2012 08:09:00 +0100

Extract from Business Times (10/01/12)

SINGAPORE: InterContinental Hotels Group (IHG) has signed an agreement with RB Capital to manage Kuala Lumpur's first Holiday Inn Express, to be built along Bukit Bintang by Amsterling Hotels Sdn Bhd, a subsidiary of RB Capital.

The site is near RB Capital's 26-storey tower housing HSBC's Malaysian headquarters.

The 200-room Holiday Inn Express Bukit Bintang is slated to open in 2015.

Holiday Inn Expre [...]

UEM Land a Top Pick of RHB Research

ella@thinkproperty.my — Thu, 05 Jan 2012 08:19:57 +0100

Extract from Bernama (05/01/12)

UEM Land Holdings Bhd, a Malaysian developer, rose the most in a week in Kuala Lumpur trading after RHB Research Institute upgraded the country's property industry to neutral. The stock climbed 1.4 percent to RM2.26 at 9:13 a.m. local time, set for its biggest increase since Dec. 27.

UEM Land was among RHB's top picks, according to a report by analyst Loong Kok Wen today.

LBS Bina: House Prices will Continue to Escalate

ella@thinkproperty.my — Wed, 04 Jan 2012 07:40:49 +0100

Extract from Business Times (04/01/12)

PROPERTY developer LBS Bina Group Bhd said house prices will continue to escalate due to rising land and building material costs.

Managing director Datuk Lim Hock San said although 2012 will be a challenging year globally, the company believes that the demand for property in Malaysia will remain strong as prices continue to increase.

"Housing prices will continue to go up and it's not because we property developers [...]

Johor Land Eyes Expats for Resort Township

ella@thinkproperty.my — Mon, 02 Jan 2012 09:35:42 +0100

Extract from Business Times (02/01/12) Johor Land Bhd is talking to Malaysian and foreign investors to expedite development of its RM2 billion integrated resort township project in Tanjung Leman, south off Mersing in Johor.

According to a source, the 142ha township project has attracted interest among investors due to its product offering and location.

The project is located within the Eastern Coast Economic Region, which is among the comprehensive development blueprin [...]