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Wednesday, April 21, 2010

Mah Sing scouts for more land

Mah Sing Group Bhd, the country's fifth largest property developer by revenue, said it is "actively" scouting for more land at home and abroad, either via outright sales or joint ventures with land owners.

In a statement issued yesterday, it said it intends to look for large landbank for a potential mass housing project and will continue to explore overseas expansion to complement its local expansion.

It also expressed interest in participating in the government's tender process for several parcels of land in Jalan Stonor, Jalan Ampang, Jalan Lidcol in Kuala Lumpur, that will be developed by the private sector as well as the development of 1,200ha in Sungai Buloh into a new hub for the Klang Valley by the government and the Employees Provident Fund.

"We are interested in both the niche lands in Kuala Lumpur's Golden Triangle as well as the larger suburban lands suitable for township developments like the new Klang Valley hub in Sungai Buluh," Mah Sing group managing director and group chief executive Tan Sri Leong Hoy Kum said.
"We are confident that we can add value to the land and contribute positively by capitalising on our vast exposure, experience and success in property development as well as sound financial standing," he added.

The group will capitalise on opportunities - land acquisitions from both the government and the private sector, joint ventures or reviving distressed assets.

"We look forward to participating in the government's tender processes for the lands and will be happy to take on the entire project or joint venture with government linked companies," said Leong.

Mah Sing received four awards at the Asia-Pacific International Property Awards 2010 in Hong Kong on Friday, the largest number of awards to be won by a single Malaysian developer this year.

It won 5 Stars Awards for Best Property (One Legenda,Cheras) and Best Architecture (Legenda@Southbay, Penang island), as well as the Highly Commended Award for their Grade A office, The Icon Jalan Tun Razak in the Best Office Development category.

Its exclusive bungalow project, "One Legenda" was also named the Best Property Asia-Pacific and will represent Malaysia on the world level later this year.

By Business Times

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