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Thursday, November 10, 2011

Companies eyeing job to sell BRDB’s assets

PETALING JAYA: Bandar Raya Developments Bhd (BRDB) has yet to make a decision on the appointment of consultant for the sale of its prime assets but industry sources said companies such as Jones Lang Wootton Malaysia, DTZ and Knight Frank Malaysia could be eyeing the job.

BRDB had on Sept 26 that it would hire an independent international property valuation firm to conduct a tender exercise for the sale of BR Property Holdings Sdn Bhd, which owns the successful Bangsar Shopping Centre and Menara BRDB as well as CapSquare Retail Centre and the Permas Jusco Mall.

This came about after calls urging the company to do so after Ambang Sehati, BRDB's major shareholder with an 18.88% stake, had proposed to buy the prime assets for RM914mil.

Ambang Sehati, the investment vehicle of BRDB chairman Datuk Moiz Jabir Mohamed Ali Moiz, would also be invited to participate in the tender exercise.

BRDB has yet to reply to queries by StarBiz on further developments regarding the tender exercise.

It is also unclear whether the property valuation firm would be appointed directly or after a RFP (request for proposal) to property consultancies.

Sources told StarBiz that the decision might be made at the next BRDB board meeting, of which a date has not been fixed.

Property consultancies contacted by StarBiz said they had not heard of any RFPs from BRDB or further developments regarding the tender exercise.

“BRDB has been very quiet on this matter,” noted one consultant.

By The Star

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