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SYF in JV with Luxmark, Sheeco

Extract from The Star (22/7/2014)

PETALING JAYA: SYF Resources Bhd will be developing a residential project on 3.23ha site in Sungai Long, Cheras in a joint venture with Luxmark View Sdn Bhd and Sheeco Properties Sdn Bhd.

The project, to be developed by SYF Resources’ wholly-owned sub-subsidiary SYF Development Sdn Bhd, will comprise condominiums and Rumah Selangorku affordable homes on the freehold land that is owned by Luxmark (4.2 acres) and Sheeco (3.88 acres).

 

SYF to expand property segment

Extract from Business Times (22/7/2014)

KUALA LUMPUR: Furniture manufacturer SYF Resources Bhd is beefing up its property development business via a new project in Cheras, Selangor.

SYF Resources diversified into property development in mid-2013 by developing land in Semenyih, Selangor.

The company said yesterday it has teamed up with two landowners to develop 3.3ha of freehold land in Sungai Long into a residential project with a gross development value (GDV) of at least RM160 million.

Its unit, SYF Development Sdn Bhd, has signed joint-venture agreements with Luxmark View Sdn Bhd and Sheeco Properties Sdn Bhd to develop the land.

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SYF Resources inks deals for RM160m Cheras property project

Extract from The Star (21/7/2014)

KUALA LUMPUR: SYF Resources Bhd is teaming up with two landowners to develop 8.09 acres of freehold land in Sungai Long, Cheras into a residential project with a gross development value (GDV) of RM160mil.

It said on Monday its unit SYF Development Sdn Bhd had signed joint venture agreements with Luxmark View Sdn Bhd and Sheeco Properties Sdn Bhd to develop the land.

SYF added SYF Development would carry out a residential project comprising of condominiums and Rumah Selangorku on the site.

It added Luxmar would be entitled to RM16.2mil and Sheeco RM14.88 million for the land.

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Aeon eyes RM100mil revenue from Bukit Mertajam mall

Extract from The Star (21/7/2014)

BUKIT MERTAJAM: Aeon Co (M) Bhd aims to rake in RM100mil revenue from its new mall, Aeon Bukit Mertajam, by July 2015.

Managing director Nur Qamarina Chew said the target was achievable as there was a housing density in that area and Bukit Mertajam was a growing town. “This place has the second highest income level in Malaysia based on our research. We can see a big crowd here... every day.

“We are trying to innovate and provide comfort and convenience to the customers. We have international tenants like Cotton On and Uniqlo,” Nur Qamarina said this at a media briefing after the opening of the mall by Penang state secretary Datuk Farizan Darus, here yesterday.

She said the mall has created over 1,000 jobs and Aeon has set up a career development programme to ensure that its staff were well-trained and would stay long with the company.

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Johor seeks high-tech investments

Extract from The Star (21/7/2014)

JOHOR BARU: Johor is to attract more capital-intensive and high-technology investments in its bid to become the nation’s economic powerhouse.

Mentri Besar Datuk Mohamed Khaled Nordin said the state could no longer depend on labour-intensive manufacturing activities if it wanted to become an economic powerhouse in the country.

He said Johor had the right eco-system to attract capital-intensive and high-technology investments and this include its strategic location at the crossroad of international trading route.

“We’ve already established ourselves as the electronics and electrical manufacturing hub in the southern region (of Peninsular Malaysia) and we need to bring it to the next level,’’ Mohamed Khaled said.

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O&G drilling space, affordable housing set to gain traction

Extract from Borneo Post (21/7/2014)

KUCHING: The oil and gas (O&G) drilling space and affordable housing investment themes are likely to continue to gain traction, the research arm of Maybank Investment Bank Bhd (Maybank IB Research) has observed at its Malaysia Corporate Day in Singapore.

Maybank IB Research had featured nine companies for its recent one-day Malaysia Corporate Day in Singapore on June 26, 2014, attended by 42 institutional funds.

It highlighted that the participating O&G corporates were UMW Oil and Gas Corporation Bhd (UMW OG), Perisai Petroleum Teknologi Bhd (Perisai), Perdana Petroleum Bhd (Perdana), Barakah Offshore Petroleum Bhd (Barakah), Coastal Contracts Bhd (Coastal Contracts) and Uzma Bhd.

The property sector was represented by Tambun Indah Land Bhd (Tambun Indah), Eastern &Oriental Bhd (E&O) and MKH Bhd (MKH).

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Guocoland to develop projects with RM2.5b GDV

 

 

 

Extract from Business Times (18/7/2014)

KUALA LUMPUR: Guocoland (Malaysia) Bhd, the property arm of Hong Leong Group, aims to develop property projects with a gross development value (GDV) of RM2.5 billion over the next three years.

Managing director Tan Lee Koon said the projects include a township inRawang and a mixed development in Sepang, as well as a corporate office venture in Petaling Jaya.

"I am very optimistic of the company's prospects," he told reporters after the topping up ceremony of the DC Residency here today.

He said the company will be opening up the second phase of the residential development in Sepang in the middle of next month, while commercial products are also in the pipeline for the area.

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Tambun Indah Land plans retirement village

Extract from Business Times (18/7/2014)

Property developer Tambun Indah Land Bhd will be offering a retirement village within its flagship integrated mixed project “Pearl City” in Simpang Ampat on Penang mainland.

The company’s managing director Teh Kiak Seng said a total of 200 high-end condominium units will be offered for sale to those aged 60 and above.

The proposed development, to be built on 1.24ha of land, will offer clubhouse facilities found in condomimium developments, with additional amenities catering to the elderly.

“We are looking at offering an Australian-inspired retirement village with custom-designed amenities for retirees,” he told Business Times.

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Mah Sing completes Bandar Meridin East acquisition

Extract from Business Times (18/7/2014)

KUALA LUMPUR: Mah Sing Group Bhd has completed the acquisition of Bandar Meridin East in Pasir Gudang, Johor, which has an estimated gross development value (GDV) of RM5 billion.

The property developer said the freehold land was bought at RM6.81 per sq ft (psf).

In a statement issued yesterday, Mah Sing said it intends to tap the group’s expertise in township master planning.

“Subject to approval by the relevant authorities, proposed components for Phase One will include 500 units of landed double-storey link homes with estimated built-up of 1,800 sq ft, 2,400 sq ft, and 2,600 sq ft, indicatively priced from below RM400,000,” it said.

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Mah Sing completes acquisition of land in Bandar Meridin East for RM401.16 million

Extract from Bernama (18/7/2014)

KUALA LUMPUR: Mah Sing Group Bhd has completed the acquisition of 547.07 hectares in Bandar Meridin East in Pasir Gudang, Johor for RM401.16 million.

In a statement here today, the property developer said the freehold land has an estimated gross development value of RM5 billion and was acquired at RM6.81 per sq ft.

On the rationale of the acquisition, Mah Sing said it planned to tap into the group's expertise in township masterplaning.

"The proposed components for phase one will include 500 units of landed double-storey link houses with estimated built-up ranging from 1,800 sq ft, 2,400 sq ft and 2,600 sq ft indicatively priced from below RM400,000.

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