He said people believed in property investment because they could “feel, see, touch, pick and choose the locations.”
Ho said Penang, for instance,was “crowded” with blue chip companies such as E&O, IJM, Bolton, SP Setia and IOI investing in quality housing projects.
“Many of them have announced record profit years with sales revenue of more than RM1bil.
- Created on Wednesday, 23 June 2010 22:39
The Malaysian government wants it to be an iconic development in Golden Triangle in Kuala Lumpur, says Multi-Purpose's managing director
Multi-Purpose Holdings Bhd (MPHB) (3859) will launch a RM3 billion project in Kuala Lumpur by the middle of next year which will complement the government's proposed international financial district and Pasar Rakyat redevelopment in Imbi.
Managing director Datuk Lau Kim Khoon @ Surin Upatkoon said the mixed development will be the group's biggest project.
It will comprise a one million sq ft full-fledge retail podium on 2.4ha, 50-storey luxury condominium, 35-storey four-star hotel and 30-storey office tower.
- Created on Wednesday, 23 June 2010 15:58
|Extract from The Star (22/06/10) |
THE iconic Matsushita factory in the Sungei Way Free Trade Zone in Petaling Jaya is finally being torn down.
The land on which the factory has been sitting for decades has been earmarked for development.
The building can be seen from the cable bridge across the Federal Highway.
Petaling Jaya City Council (MBPJ) public relations officer Zainun Zakaria said the landowner had been given the green light to tear down the building.
“The contractors are required to follow the building demolition guidelines and to ensure that safety is not compromised,” she said.
- Created on Tuesday, 22 June 2010 17:26
FOOTBALL, football and more football. This is the most talked-about topic at work places, coffee shops and homes as the Fifa World Cup fever hits the globe.
But at home ground, there is another topic that has gotten quite a lot of people talking – the new land lease renewal premium rates.
This topic, although affecting a handful of people who have paid their land premiums before the new policy was announced on May 14, can be a flash point for the ruling government in the next state election.
At the height of the Sibu by-election, Chief Minister Tan Sri Abdul Taib Mahmud announced the new flat rates to take effect on June 1.
- Created on Tuesday, 22 June 2010 17:22
BOLTON LYL Sdn Bhd, an indirect wholly-owned subsidiary of Bolton Bhd, is filing for liquidated damages from Intrapuri Sdn Bhd for terminating the sales and purchase agreement signed between both parties on the acquisition of a 2.2ha land in KL for RM39 million.
“Pursuant to the above letter of termination, Intrapuri is in breach of and has defaulted under the terms and conditions of the agreement.
As such, Bolton LYL has vide their letter dated June 21 2010 informed Intrapuri that Bolton LYL shall exercise its rights to terminate the agreement and demand for liquidated damages under Clause 16 of the agreement,” the company said in a statement to Bursa Malaysia.
- Created on Tuesday, 22 June 2010 17:14
KUALA LUMPUR: Selangor PROPERTIES  Bhd posted net loss of RM25.62 million in the second quarter ended April 30, 2010 due to a foreign exchange loss of RM38.8 million as the ringgit strengthened against the Singapore dollar, US dollar and Australian dollar.
It said on Monday, June 21 that the net loss was lower than the RM38.6 million a year ago when it was affected by the provision for impairment loss on its investment in real estate funds.
Revenue was RM52.36 million versus RM54.30 million. Loss per share was 7.46 sen from 11.23 sen. Net assets per share were RM4.95.
"For the quarter under review, the group achieved a loss before tax of RM16.0 million as compared to a profit before tax of RM12.3 million in the preceding quarter ended Jan 31, 2010. The loss was mainly attributable to the currency translation loss on our overseas investment," it said.
- Created on Tuesday, 22 June 2010 17:10
PERDANA ParkCity Sdn Bhd, a subsidiary of the timber-based Samling group, hopes to replicate its successful Desa ParkCity township model abroad, targeting Southeast Asia.
The company is looking for landbank of more than 120ha in Jakarta, its group chief executive officer Lee Liam Chye said.
"We will form joint ventures with landowners and developers. We think Asia is on an upstream and we are at the beginning of a recovery after a recession.
"For me, the sooner we get into actualising our vision to be a regional player the better it would be for the company," Lee said in an interview with Business Times in Kuala Lumpur recently.
- Created on Monday, 21 June 2010 19:44
KUALA LUMPUR -- The Selangor State Economic Development Corporation (PKNS) has bagged the "State Economic Development Agency Of The Year" award presented by SMI and SME Worldwide Network.
The award is testimony of the commitment and dedication of the staff and management of PKNS.
"This achievement is especially sweet as the year 2009 marked PKNS's 45th anniversary," said General Manager Othman Omar in a statement Saturday.
The award will be presented to PKNS at the "Business of the Year Awards 2009" presentation tomorrow.
- Created on Monday, 21 June 2010 18:11
|Extract from The Star (19/06/10) |
ASIAN Pac Holdings Bhd is building up its property investment portfolio in new growth areas to widen its income streams.
According to managing director Datuk Mustapha Buang, the company will consider land that is ready for development in the Klang Valley, Penang and Johor.
“By raising our property investment portfolio, we expect to raise our annual income from investment property of about RM1.5mil now to more than RM40mil in the next three to four years. The existing income is mainly derived from car parking fees,” Mustapha says.
Currently, Asian Pac operates 1,300 car park bays in Kota Kinabalu and another 2,300 bays will be ready in the next three to four years. It also has a 6.3 acre site in Kepong Entrepreneurs’ Park that is being leased to Carrefour.
Mustapha points out that most of Asian Pac’s projects are in Kuala Lumpur now and the company has experienced some delay in the approval application process pending the Kuala Lumpur City Draft Plan 2020.
- Created on Saturday, 19 June 2010 17:56
THE local property market is abuzz with new launches once again with reports of good take-up for quite a number of recently launched residential projects especially those in well sought after locations.
Things are looking up for the market, especially in the landed residential sector although the condominium market is still quite soft.
The overall sentiment has certainly improved and developers are reporting much stronger sales compared with the last two years.
In fact, residential property prices have appreciated quite substantially with prices even doubling in some areas.
- Created on Saturday, 19 June 2010 17:53