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Wednesday, January 23, 2008

Malaysia Mega Property Showcase 2008

Malaysia Mega Property Showcase 2008
The widest selection of PROPERTY INVESTMENT SHOW is back !
Venue at Mid Valley Exhibition Centre Kuala Lumpur

FREE Seminar (no registration require, base on walk in first come first serve basis only)
  • Thurs-24/1/08 (1pm ~ 2pm) & Sat-26/1/08 (2pm ~ 3pm) > How you can gain from oil palm boom currently enjoyed by big corporation
  • Thurs-24/1/08 (2pm~ 3pm) > Home Loan (language: Mandarin)
  • Thurs-24/1/08 (3pm ~ 4pm) > Mind Power for Wealth Attraction (language: Mandarin) (English on Sunday 27/1/08 - 1pm ~ 2pm )
  • Thurs-24/1/08 (4pm ~ 5pm) > Investing on Solid Ground (language: English)
  • Fri-25/1/08 (12noon ~ 1pm) > Investing Portfolio Planning (language: English)
  • Fri-25/1/08 (3pm ~ 4pm) > A Source For Great Investing (language: English)
  • Fri-25/1/08 (4pm ~ 5pm) > Land Investment in the UK (language: English)
  • Sat-26/1/08 (3pm ~ 4pm) > Land Investment in the UK (language: English)
  • Sat-26/1/08 (4pm ~ 5pm) > Malaysia My Second Home Programme Application, Procedures & Benefits (language: English)
  • Sun-27/1/08 (12noon ~ 1pm) > Investing on Solid Ground (language: English)
  • Sun-27/1/08 (2pm ~ 2:30pm) > Hot Properties in Klang Valley (language: English)
  • Sun-27/1/08 (2:30pm ~ 3:30pm) > Owership of Oil & Gas Leases (language: English)
Please kindly confirm the relevant time & schedule (language) stated above with the organiser company. Thank you.

Much more at the EXPO ! Join us !

Show Information Details
Event Title: 24th edition - Malaysia Mega Property Showcase 2008 @ Midvalley
Date: 24 – 27 January 2008
Venue: MVEC - Midvalley Exhibition Centre, Kuala Lumpur
Time: 10:30 a.m. – 9:00 p.m.
Admission: Free Entry / Open to public
Organiser: Exhibition Guide Group brought to you by the organizer of the region’s no 1 mega property exhibition the only property platform hosted over 24th edition in this region.

Exhibition profile: Condo / Apartments, Landed Properties, Resort, Commercial properties, Property related investments, Foreign investments and services, etc.

Special feature:
  • Free Advice on EPF Buying House Withdrawal Scheme
  • Free Advice for foreigner Only - Malaysia My Second Home Programme
  • Free Advice For First Time House Buyers
  • Find out the Top Property Investment in Malaysia
  • On-The-Spot EPF i-Akaun Application
Attracted foreign visitors: Australia, Bangladesh, China, UK, US, Arab Saudi, Dubai, Turkey, Spain, France, Italy, Pakistan, India, Korean, Japanese, Hong Kong, Thailand, Indonesia, Philippines, Vietnam, Iran , Iraq, Singapore, Nepal, South Africa, Germany, Holland, Nigeria, Argentina, Brazil, Mexico, Canada, Sweden, Cambodia and many more…

Organiser Website:
Organiser Company Name: Exhibition Guide (M) Sdn Bhd (576036D)
Company Address: No.47-1, Jalan 1/ 149 J, Bandar Sri Petaling, 57000 Kuala Lumpur. Malaysia
Tel: +603 9056 3323
Fax: +603 9056 5323

WCT on steady ground with RM7b projects in hand

PETALING JAYA: WCT Engineering Bhd is unperturbed by jitters in the US economy as it has already locked in some RM7bil worth of projects that will keep it busy for two years, according to chairman Datuk Ahmad Sufian Abdul Rashid.

The construction company, which said about 70% of the order value was from the Middle East, recently announced that it was awarded an investment certificate for the Platinum Plaza project in Ho Chi Minh City.

“We have not included anything from Vietnam in our order book,” Ahmad Sufian said after the company EGM yesterday.

The order book value captures the portion of jobs that WCT is involved in.

Executive director Loh Siew Choh noted that the initial cost of the Vietnam project, which would be built in three phases, was estimated at US$200mil.

The group does not intend to expand aggressively but prefers to “spend a bit more time” in Vietnam.

“We have been in the Middle East for six years and it took time to build the record,” Loh said, adding that WCT would consider expanding into Oman this year.

In the Middle East, WCT has projects in Dubai, Abu Dhabi, Qatar and Bahrain. Ahmad Sufian said construction jobs were funded by the owners with payments being made progressively, hence WCT would not need to fork out significant investments.

WCT is also involved in the upgrade of Kota Kinabalu International Airport in Sabah.

Loh noted that the group would continue to bid for new projects.

By The Star (by Yeow Pooi Ling)

Mapletree buys properties in Johor for RM61.5mil

KUALA LUMPUR: Singapore-based Mapletree Industrial Fund Ltd (MIF) has acquired four properties in the Tampoi Industrial Estate for RM61.5mil on a sale and leaseback arrangement with Tangkai Jaya Sdn Bhd and Setegap Jaya Sdn Bhd.

The properties were double-storey, purpose-built detached factory buildings, it said in a statement.

All the properties are subleased to individual tenants, namely Enplas Precision (M) Sdn Bhd, MCE Technologies Sdn Bhd and Celestica Electronics (M) Sdn Bhd, with Celestica Electronics occupying two buildings.

One of the more established industrial estates in Johor Baru, the Tampoi Industrial Estate enjoys good access to road, sea and air transportation.

The properties are located 10km north of Johor Bahru city centre.

Phua Kok Kim, chief executove executive officer of Mapletree Industrial Fund Management Pte Ltd (MIFM) said the acquisition has enabled the MIF to increase its portfolio of good quality industrial assets in Malaysia.

By Bernama

MRCB in joint venture to develop KL Sentral land

MALAYSIAN Resources Corp Bhd (MRCB) and Pelaburan Hartanah Bumiputera Bhd (PHBB) have set up a joint-venture company, Jewel Surprises Sdn Bhd, to develop a retail complex and associated car park bays at Kuala Lumpur Sentral.

MRCB holds a 51 per cent stake in the joint venture, while PHBB owns the remainder.

The plot of land, known as Lot G, is owned by PHBB's wholly-owned subsidiary Promising Quality Sdn Bhd, which has entered into a lease agreement with Jewel Surprise to lease the retail complex and the car park bays for 99 years.

This venture allows both parties to pool their resources and expertise to develop an integrated retail and office complex of 1.5 million gross floor area.

"The retail complex would complement the existing high end hotels, offices and residentials as well as the recently opened retail lifestyle centre, Sooka Sentral," MRCB said in a statement to Bursa Malaysia yesterday.

The proposed retail complex is expected to add vibrancy to the overall development of Kuala Lumpur Sentral.

MRCB's 60 per cent owned subsidiary, MRCB Selborn Corporation Sdn Bhd, will be designing and constructing the retail shopping complex in Lot G.

This is not the two companies' first venture as both MRCB and PHBB tied up last December to set up Penang Sentral Sdn Bhd, to develop an integrated transportation hub in Penang Sentral.

By New Straits Times

Felda signs agreement to buy office tower from TTDI

From left: Datuk Seri Najib Tun Razak, Tan Sri SM Nasimuddin SM Amin, Tan Sri Mohd Yusof Noor and Datuk Wira Abu Seman Yusop

KUALA LUMPUR: Federal Land Development Authority (Felda) yesterday signed a sales and purchase agreement with TTDI Development Sdn Bhd for the purchase of a 50-storey office tower for RM640.77mil.

The office tower to be called Menara Felda is the tallest of seven towers in TTDI Development’s RM3.5bil Platinum Park, in Kuala Lumpur City Centre (KLCC). Construction will start this year and is scheduled for completion in four years.

Deputy Prime Minister Datuk Seri Najib Tun Razak, who performed the groundbreaking ceremony for Platinum Park, also witnessed the signing between Felda and TTDI Development, a member of the Naza group.

Also present were Felda chairman Tan Sri Dr Mohd Yusof Noor, TTDI Development chairman Tan Sri SM Nasimuddin SM Amin and Deputy Federal Territories Minister Datuk Wira Abu Seman Yusop.

“The decision to build Menara Felda in the city centre is to promote Felda as an iconic organisation in line with its success all this while.

Menara Felda, to be located along the same row as five-star hotels and near the Petronas Twin Towers, has the potential to raise Felda's image and in tandem with this, Felda settlers must change their mindset to take the organisation to greater heights,” Najib said after the groundbreaking and signing ceremony.

He said more than 50 years ago, Felda provided a source of livelihood for the people by opening up land but now it was getting modern and needs to generate wealth at the international level.

“We could have built Menara Felda at another place, even next to its head office in Jalan Gurney, but then Felda would not be in the limelight. Strategic thinking prompted us to locate the tower here,” Najib said.

By The Star

TTDI Dev mulls more en bloc sales

TTDI Development Sdn Bhd, the property arm of the Naza Group, may do more en bloc sales of its development due to strong interest from Middle East and Singapore investors.

TTDI is building seven iconic towers in Platinum Park, its first high-end integrated residential and commercial project on a 3.64ha site.

Group managing director Datuk Johan Ariffin said the foreign investors plan to house their corporate offices at the towers. More deals may be concluded this year or by early 2009.

JOHAN: TTDI expects the gross development value of Platinum Park to hit RM4 billion

"The reason we go for en bloc sales is to mitigate market risk. It's safer to lock in sales, eliminate market risk and see what to do next," Johan told Business Times at a media briefing on Monday.

"Based on current market value for properties in Kuala Lumpur, TTDI expects the gross development value of the project to hit RM4 billion from earlier estimations of RM3.5 billion," Johan said.

TTDI on Monday agreed to sell a 50-storey office tower, dubbed the Felda Tower, to the Federal Land Development Authority (Felda) for RM640.7 million.

Platinum Park will be developed over five to eight years. It will comprise two 42-storey high-end condominium towers with 164 units and one 30-storey condominium block with 123 units.

The units will be priced from RM2,000 to RM2,500 per sq ft with sizes ranging from 2,200 to 5,500 sq ft and penthouses with built-up areas of between 8,000 and 13,000 sq ft.

The project will also consist of 50-storey, 38-storey and 33-storey Grade A office towers and a five-star 30-storey serviced apartment tower.

Construction of the buildings will start this year except for the 42-storey blocks, which will start in 2009, being the final phase of the development.

It is learnt that the new Naza headquarters will be housed at the 33-storey office tower.
Platinum Park will be complemented with a RM20 million 0.6ha park and a "necklace" of niche lifestyle retail offerings spread over 80,000 sq ft.

The Felda Tower will have a net lettable area of 689,000 sq ft and a banquet hall when completed in 2012.

Deputy Prime Minister Datuk Seri Najib Tun Razak performed the ground-breaking ceremony for Platinum Park yesterday.

By New Straits Times (by Sharen Kaur)

BSN home loans may hit RM3.1b this year

BANK Simpanan Nasional (BSN) expects home financing, the second largest contributor to its total loan portfolio, to increase to RM3.1 billion by the end of this year from RM2.6 billion now.

BSN chairman Datuk Seri Abdul Azim Mohd Zabidi said the increase will be partly due to contribution from the public housing loan scheme, which will add growth to its housing loans by 20 to 30 per cent.

BSN is one of the banks that have signed agreements with Syarikat Jaminan Kredit Perumahan Bhd, a subsidiary of the Finance Ministry, to provide guarantee to financial institutions that disburse the loans under the scheme.

Currently, housing loans form 37 per cent of BSN's total loan portfolio, after personal loans which contribute 57 per cent.

Speaking to reporters after a ceremony to mark BSN's migration to a broadband system in Kuala Lumpur yesterday, Abdul Azim also said BSN is targeting RM180 million in micro-financing this year, up from RM4.5 million last year.

The bank's non-performing loans (NPLs) stand at single digit, while its deposits total over RM8 billion.

Meanwhile, Abdul Azim said the bank has budgeted RM25 million for branch expansion over the next five years.

This would see some branches being relocated, closed down or merged.

"We are looking at (expanding to) 400 branches from the current 375 branches," he said, adding that some branches would be opened at new townships.

BSN will also add 100 more automated teller machines (ATMs) to its existing 603 ATMs.

He said BSN plans to spend RM220 million on information technology within the next five years.

Of the total, RM32 million has been allocated for the bank's network migration into the hybrid Internet Protocol virtual private network secured broadband.

The project was awarded to HeiTech Padu Bhd in June 2007 and was completed within five months.

HeiTech Padu executive chairman Datuk Mohd Hilmey Mohd Taib said the network migration, through the deployment of Padu*IP Broadband system, will generate about 30 per cent cost-saving to BSN and is five times faster than the previous analogue system.

Asked on Vantage Point Consulting Sdn Bhd (VPC), he said HeiTech Padu, which currently has a 50 per cent stake in VPC, has no plans to reduce its shareholding in the company.

"But if there is new injection (of capital), our stake may be diluted," he said, confirming that there are local investors interested in VPC.

"We will announce it when it is confirmed," he said.

He also said that at the moment, HeiTech Padu has no plan to list VPC.

By New Straits Times (by Hamisah Hamid)

BSN targets housing loans growth

Bank expects 20% to 30% increase mainly from its guaranteed loan scheme

KUALA LUMPUR: Bank Simpanan Nasional (BSN) is targeting 20% to 30% growth in housing loans this year, said chairman Datuk Seri Abdul Azim Zabidi.

The growth would be underpinned by the guaranteed housing loan scheme announced under Budget 2008, which was designed to help variable income earners to own low- and medium-cost housing, he said.

“Our latest capital guaranteed housing loan will add to the growth of our housing loan portfolio,” he said after BSN and HeiTech Padu Bhd signed a commemorative plaque to signify the completion of BSN's network migration project.

Last week, Second Finance Minister Tan Sri Nor Mohamed Yakcop said the Government expected financial institutions to disburse RM1bil worth of home financing to low-income groups under the scheme this year.

Housing loans, which account for about 39% of BSN's total loan portfolio, currently totals RM2.6bil. Personal and housing loans would be the bank's main contributors this year, Abdul Azim said.

BSN, he said, also planned to grow its micro-finance portfolio this year.

“We are looking at quite a high (growth), to about RM180mil in 2008 from RM4.5mil last year,” he said, adding that retail deposits were also expected to grow about 12% this year.

On the completion of the bank's network migration project, Abdul Azim said BSN could now operate more cost effectively.

“This new network has enabled BSN to establish connectivity with all 375 branches nationwide, including those in remote areas, through secure high-speed Internet protocol broadband services to support our overall banking transactions,” he said.

The RM32mil network migration project was awarded to HeiTech Padu in June last year. Abdul Azim said the bank would be spending about RM220mil to improve BSN's information technology infrastructure over the next five years.

HeiTech Padu executive chairman Datuk Mohd Hilmey Taib, meanwhile, said the demand for network and disaster recovery services was expected to pick up over the next few years due to increased data usage and security as companies were showing more interest in having proper recovery plans.

By The Star

KFH to finance The One cyber city

PENANG: Kuwait Finance House (M) Bhd (KFH) is providing finance for Ideal Capital Intelligence Sdn Bhd's RM500mil The One, Penang Cyber City commercial project in Bayan Baru.

Ideal Capital chief executive officer Datuk Alex Ooi said that under an agreement, a RM68mil loan – in the form of Musharakah and Murabahah financing facilities – would allow KFH to participate in the project on a profit-sharing basis and provide revolving credit to Ideal Capital.

“We are targeting the sale of 40% of the commercial properties to buyers from Indonesia and Hong Kong.

“The remaining 60% are for domestic purchasers and investors,” Ooi told reporters after the launch of The One by Penang Chief Minister Tan Sri Dr Koh Tsu Koon and signing of the loan facilities yesterday.

"We are targeting the sale of 40% of the properties to buyers from Indonesia and Hong Kong" DATUK ALEX OOI

The One, located on a 5.2ha leasehold site, comprises smart serviced suites, corporate office suites, corporate retail units, terraced shophouses and bungalows.

Besides commercial properties, The One would also house Malaysia's first technology museum.

Some 57 bungalows and terraced shophouses, priced between RM281,000 and RM2mil, were launched recently, Ooi said, adding that over 80% of them had been sold.

Meanwhile, Ooi, who is also Indian Corridor Sdn Bhd chief executive officer, said he had secured a US$100mil loan from a Middle Eastern financial institution to finance the RM3.2bil Royal Garden property development project in Shanghai.

“The financing would also enable the repayment of outstanding loans taken by Golden Plus Holdings Bhd (GPlus) to finance Royal Garden,” he said.

Indian Corridor is a substantial shareholder in GPlus.

By The Star (by David Tan)