KUALA LUMPUR: Sentoria Group Bhd’s unit Sentoria Alfa Sdn Bhd has received an approval letter from the Pahang state secretary on its application for an additional three parcels of land worth RM37.15 million.
These parcels of land are adjoining its existing Bukit Gambang Resort City in Pahang.
Of these 72.84ha acquired, 20.23ha will be used for further expansion of Bukit Gambang Safari Park (currently under construction), 20.23ha for tourism related retail commercial development, and the remaining 32.37ha for residential and support industry, Sentoria told Bursa Malaysia.
By Business Times
Showing posts with label Pahang. Show all posts
Showing posts with label Pahang. Show all posts
Saturday, November 3, 2012
Tuesday, July 10, 2012
Astral Asia unit secures grant for park development
PETALING JAYA: Astral Asia Bhd has secured a government grant via its wholly-owned subsidiary Tasja Development Sdn Bhd to facilitate the phase one development of the Kuantan Hi-Tech Park.
Astral said in a statement that Tasja had already signed the agreement with the Government and Bank Pembangunan Malaysia for a facilitation fund of RM57.5mil for the phase one development of the 2,433.68-acre integrated industrial park.
It added that work on the park was expected to start early next year.
Tasja is to be the developer of the Kuantan Hi-Tech Park phase one project while Syarikat Ladang LKPP Sdn Bhd (SLLKPP) was to provide land for the development.
SLLKPP is 65%-owned by Astral and 35% by the Pahang state government agency Lembaga Kemajuan Perusahaan Pertanian Negeri Pahang.
The Kuantan Hi-Tech Park is to be developed with a vision to integrate the development of the industrial zone as a catalyst project and natural progression, which is complementary to the current activities undertaken in the East Coast Economic Region’s Special Economic Zone of Malaysia.
By The Star
Astral said in a statement that Tasja had already signed the agreement with the Government and Bank Pembangunan Malaysia for a facilitation fund of RM57.5mil for the phase one development of the 2,433.68-acre integrated industrial park.
It added that work on the park was expected to start early next year.
Tasja is to be the developer of the Kuantan Hi-Tech Park phase one project while Syarikat Ladang LKPP Sdn Bhd (SLLKPP) was to provide land for the development.
SLLKPP is 65%-owned by Astral and 35% by the Pahang state government agency Lembaga Kemajuan Perusahaan Pertanian Negeri Pahang.
The Kuantan Hi-Tech Park is to be developed with a vision to integrate the development of the industrial zone as a catalyst project and natural progression, which is complementary to the current activities undertaken in the East Coast Economic Region’s Special Economic Zone of Malaysia.
By The Star
Friday, June 22, 2012
AP Land and partner to build more than 14,000 homes for ex-soldiers
KUALA LUMPUR: AP Land Development Sdn Bhd and its South Korean joint-venture partner Taeseung Construction Co Ltd will build 14,000 landed homes with total gross development values of RM2bil for ex-military servicemen.
AP Land chairman Datuk Nazrul Arsad said the indicative prices of these homes would range between RM85,000 and RM185,000 and would be located in Pahang, Perak and Terengganu.
Speaking at the signing of a memorandum of understanding between the two companies, Nazrul said the developer could sell the homes at these prices because their costs of construction would be lowered with the use of industrialised building systems (IBS) technology.
“These selling prices are about half the prices offered in the market. We are not taking developer margins but we are taking contractor margins.
“Our margins may be smaller but we play the volume game. There are 17 sites for a total of 14,000 units of these houses,” he said.
“The IBS system is able to lower costs because we buy in bulk. IBS also uses a standard mould which can be used for the building of many houses, and thus reduce costs,” Nazrul added.
Tauseung's role in the joint venture includes introducing building methods that could cut construction time from two years to about 18 months, he said.
Deputy Defence Minister Datuk Abdul Latiff Ahmad said about 80,000 ex-servicemen were without proper housing currently.
“About 3% (of ex-military servicemen) are without housing, perhaps because there was no real policy (for housing) then,” he added.
By The Star
AP Land chairman Datuk Nazrul Arsad said the indicative prices of these homes would range between RM85,000 and RM185,000 and would be located in Pahang, Perak and Terengganu.
Speaking at the signing of a memorandum of understanding between the two companies, Nazrul said the developer could sell the homes at these prices because their costs of construction would be lowered with the use of industrialised building systems (IBS) technology.
“These selling prices are about half the prices offered in the market. We are not taking developer margins but we are taking contractor margins.
“Our margins may be smaller but we play the volume game. There are 17 sites for a total of 14,000 units of these houses,” he said.
“The IBS system is able to lower costs because we buy in bulk. IBS also uses a standard mould which can be used for the building of many houses, and thus reduce costs,” Nazrul added.
Tauseung's role in the joint venture includes introducing building methods that could cut construction time from two years to about 18 months, he said.
Deputy Defence Minister Datuk Abdul Latiff Ahmad said about 80,000 ex-servicemen were without proper housing currently.
“About 3% (of ex-military servicemen) are without housing, perhaps because there was no real policy (for housing) then,” he added.
By The Star
Thursday, June 21, 2012
AP Land 14,000 to build houses for servicemen, GDV RM2b
KUALA LUMPUR: AP Land Bhd will build 14,000 houses for the military servicemen in Pahang, Perak and Terengganu.
AP Land chairman Datuk Nazrul Arsad said on Thursday the houses would cost between RM85,000 and RM185,000 each.
Speaking at a press conference, he said the total gross development value of the houses would be about RM2bil.
By The Star
AP Land chairman Datuk Nazrul Arsad said on Thursday the houses would cost between RM85,000 and RM185,000 each.
Speaking at a press conference, he said the total gross development value of the houses would be about RM2bil.
By The Star
Monday, June 4, 2012
Raub to become a tourism hub
RAUB: The Tourism Ministry is preparing a blueprint to promote Raub as a tourism destination.
Minister Datuk Seri Dr Ng Yen Yen said the Raub Integrated Tourism Development Blueprint would improve the livelihood and employment opportunities for the locals.
“It is my mission to develop Raub as an integrated tourism district because of its abundant natural resources and good accessibility.
“Moreover, there are two well-known home-stays in Sungai Pasu and Gali Hilir,” she said when opening the East Coast Economic Region Development Council empowering programme for Raub district here yesterday.
Also present was ECERDC chief executive officer Datuk Jebasingam Issace John.
Dr Ng said Raub district would also have 27 projects to develop tourism and upgrade facilities worth RM15.87mil under the Ninth and 10th Malaysia Plan.
She said the ministry had also picked Kampung Sungai Pasu as a 21st century village with access to WiFi connection while still maintaining its traditional values and culture.
On the ECERDC programme, Dr Ng said it would provide training in academic and entrepreneurship skills to local youths.
“The programme will help bridge the gap between urban and rural areas.”
Dr Ng said everyone in the tourism industry had the responsibility to maintain their services and products.
“Failure to do so could mean a loss of financial resources,” she said, adding that besides tourism operators, local leaders and local government officers, even the ordinary people shared the responsibility of selling the country’s tourism products.
“However, what normally happens when these efforts fail is that there will be parties blaming each other for not giving support.”
By The Star
Minister Datuk Seri Dr Ng Yen Yen said the Raub Integrated Tourism Development Blueprint would improve the livelihood and employment opportunities for the locals.
“It is my mission to develop Raub as an integrated tourism district because of its abundant natural resources and good accessibility.
“Moreover, there are two well-known home-stays in Sungai Pasu and Gali Hilir,” she said when opening the East Coast Economic Region Development Council empowering programme for Raub district here yesterday.
Also present was ECERDC chief executive officer Datuk Jebasingam Issace John.
Dr Ng said Raub district would also have 27 projects to develop tourism and upgrade facilities worth RM15.87mil under the Ninth and 10th Malaysia Plan.
She said the ministry had also picked Kampung Sungai Pasu as a 21st century village with access to WiFi connection while still maintaining its traditional values and culture.
On the ECERDC programme, Dr Ng said it would provide training in academic and entrepreneurship skills to local youths.
“The programme will help bridge the gap between urban and rural areas.”
Dr Ng said everyone in the tourism industry had the responsibility to maintain their services and products.
“Failure to do so could mean a loss of financial resources,” she said, adding that besides tourism operators, local leaders and local government officers, even the ordinary people shared the responsibility of selling the country’s tourism products.
“However, what normally happens when these efforts fail is that there will be parties blaming each other for not giving support.”
By The Star
Monday, May 7, 2012
Sentoria plans RM1.5bil projects
PETALING JAYA: Sentoria Group Bhd expects to launch projects with a total gross development value (GDV) of RM1.5bil within the next eight years.
Public and investor relations head Nasiruddin Nasrun said the projects would be located in Selangor and within the company's Bukit Gambang Resort City (BGRC) development in Kuantan, Pahang.
“About RM113.8mil will be for property projects in Kuantan and Selangor, while the balance RM1.4bil will be allocated for BGRC-related developments such as additional hotel rooms and suites and retail outlets to add to its vibrancy,” he told StarBiz in an e-mail.
“Going forward, Sentoria plans to launch projects with a GDV of about RM1.5bil, which indicates that the property segment will continue to be a significant revenue generator,” Nasiruddin added.
Sentoria currently has three ongoing projects within BGRC and three other developments in different locations.
The projects at BGRC are its Arabian Bay Resort (comprising penthouses as well as resort and hotel suites), Global Heritage South (double-storey villas and hotel suites) and Desa Hijauan (single-storey terrace and semi-detached homes).
Its other projects are Taman Indera Sempurna 2 (comprising single-storey terrace homes, semi-detached houses and bungalows), Fasa Bunga Raya (double-storey terrace houses) and Taman Bukit Rangin (single-storey terrace and semi-detached homes).
“Part of Sentoria's masterplan is to further develop other accommodation and commercial centres in BGRC to accommodate even larger patronage,” he said, adding that the future BGRC-related projects were targeted for completion in 2018.
“As our land bank is primarily within the vicinity of Kuantan, Sentoria has developed affordable housing that fulfil the demand from the mass and middle-income groups.”
Sentoria also has a number of completed projects Taman Sentoria, Taman Indera Sempurna 1, and Caribbean Bay Resort in BGRC.
As for developing projects beyond Kuantan, Nasiruddin said Sentoria was “constantly exploring new pockets of growth”.
“We have embarked on a few small property projects in Negri Sembilan and Selangor but hope to secure a major breakthrough in the Klang Valley in the future,'' he added.
According to him, Sentoria's property division contributed RM114mil or 70.2% of total revenue in its financial year ended Sept 31, 2011. The remaining 29.8% or RM48.4mil was contributed by its leisure and hospitality division.
“At the moment, Sentoria has land bank of 953.9 acres with a total GDV of RM2.2bil that would keep the group busy till 2020.
“This includes the balance of more than 200 acres in BGRC that has been allocated for further development into additional theme parks, accommodation options and commercial interests,” said Nasiruddin.
He said Sentoria was optimistic about the outlook of its leisure and hospitality division.
“This is in light of our masterplan for BGRC, which include building additional three theme parks Bukit Gambang Safari Park, Marine Park and Adventure Park to attract more patrons in the coming years,” he said.
By The Star
Wednesday, February 1, 2012
Sentoria plans 2nd theme park
KUALA LUMPUR: Property developer, and leisure and hospitality company Sentoria Group Bhd, which aims to raise RM51.6mil from its initial public offering (IPO), intends to invest the bulk of the proceeds on a second theme park in its Bukit Gambang Resort City (BGRC) in Kuantan, Pahang.
Sentoria joint managing director Datuk Gan Kim Leong said that the company had allocated a capital expenditure (capex) of RM48mil for a Safari Park, which would boost the number of visitors to BGRC.
“The park will open in stages from the end of this year,” he said at the launch of the company's prospectus yesterday.
Sentoria public and investor relations head Nasiruddin Nasrun said he was optimistic the Safari Park, spanning 35.7ha in Gambang's secondary jungle, would follow the success of the company's first theme park, known as Bukit Gambang Water Park, which had already attracted more than one million visitors since BGRC's opening in July 2009. Sentoria is the developer and operator of BGRC.
According to Gan, the hospitality business contributed about 30% to Sentoria's total earnings, with the balance 70% coming from its property development division.
Nasiruddin said the company expected to grow the contribution from the hospitality business to 50% by the time BGRC was completely developed in 2018.
“But we do expect to reach 50% much earlier, perhaps in the next couple of years,” he said.
Gan said a listing on the stock market would enable the company to create more visibility and make it easier to attract potential investors and business partners.
He also said it was timely to float the company despite the current global economic uncertainties. “We cannot foresee if the global economy will be good or bad, so any time is the best time,” Gan said.
Nasiruddin added that Sentoria was no stranger to an “economic downturn”.
“We embarked on BGRC during the global financial crisis in 2007 and 2008. So, we are no stranger to economic downturns,” he said.
Apart from the capex, the balance IPO proceeds will be used to repay bank borrowings and defray listing expenses.
En route to a listing on the Main Market of Bursa Malaysia by the first quarter of this year, Sentoria's IPO entails a public issue of 60 million new shares and an offer for sale of 40 million promoters' shares.
Of the 60 million public shares, 20 million are allocated for public balloting and 10 million for eligible directors, employees and business associates of the group at a price of 85 sen each. About 30 million shares will be allocated for private placement at 87 sen apiece.
The 40 million promoters' shares allocated for bumiputra investors are priced at 87 sen each.
AmInvesment Bank Bhd is the principal adviser, managing underwriter and joint placement agent for the IPO, while Kenanga Investment Bank Bhd is the joint placement agent.
By The Star
Sentora to invest RM48mil to develop safari park
KUALA LUMPUR: Sentoria Group Bhd, en route for listing on Bursa Malaysia Securities Bhd in the first quarter of this year, plans to invest RM48 million from internally-generated funds to develop a safari park.
Joint managing director, Datuk Gan Kim Leong, said the 35.28-hectare Bukit Gambang Safari Park in Bukit Gambang Resort City (BGRC) would commence operations by year-end.
"We are optimistic the safari park will follow the success of our first theme park," he said at the launch of the group's initial public offering (IPO) prospectus here today.
Gan said the company's first park, Bukit Gambang Water Park, has received over a million visitors since BGRC's opening in July 2009. "The addition of the second theme park would stake our place as an up-and-coming leisure and hospitality destination for visitors in Malaysia and the region," he said.
Sentoria is the developer and operator of BGRC in Kuantan, Pahang one of the largest integrated resort cities in Malaysia with 218.8ha.
The group has also carved out a niche in developing affordable housing primarily in Kuantan, Pahang.
Among its ongoing projects are Arabian Bay Resort, safari park and Taman Indera Sempurna 2.
Gan said the IPO would raise RM51.6 million in proceeds, of which RM27.7 million would be used for working capital.
He said RM11.2 million would be used to repay bank borrowings, RM9 million for purchase of property, plant and equipment and RM3.7 million to defray listing expenses.
The IPO entails a public issue of 60 million new ordinary shares and an offer for sale of 40 million promoters' shares at 87 sen apiece.
By Bernama
Joint managing director, Datuk Gan Kim Leong, said the 35.28-hectare Bukit Gambang Safari Park in Bukit Gambang Resort City (BGRC) would commence operations by year-end.
"We are optimistic the safari park will follow the success of our first theme park," he said at the launch of the group's initial public offering (IPO) prospectus here today.
Gan said the company's first park, Bukit Gambang Water Park, has received over a million visitors since BGRC's opening in July 2009. "The addition of the second theme park would stake our place as an up-and-coming leisure and hospitality destination for visitors in Malaysia and the region," he said.
Sentoria is the developer and operator of BGRC in Kuantan, Pahang one of the largest integrated resort cities in Malaysia with 218.8ha.
The group has also carved out a niche in developing affordable housing primarily in Kuantan, Pahang.
Among its ongoing projects are Arabian Bay Resort, safari park and Taman Indera Sempurna 2.
Gan said the IPO would raise RM51.6 million in proceeds, of which RM27.7 million would be used for working capital.
He said RM11.2 million would be used to repay bank borrowings, RM9 million for purchase of property, plant and equipment and RM3.7 million to defray listing expenses.
The IPO entails a public issue of 60 million new ordinary shares and an offer for sale of 40 million promoters' shares at 87 sen apiece.
By Bernama
Tuesday, January 31, 2012
Sentora to invest RM48mil to develop safari park
KUALA LUMPUR: Sentoria Group Bhd, en route for listing on Bursa Malaysia Securities Bhd in the first quarter of this year, plans to invest RM48 million from internally-generated funds to develop a safari park.
Joint managing director, Datuk Gan Kim Leong, said the 35.28-hectare Bukit Gambang Safari Park in Bukit Gambang Resort City (BGRC) would commence operations by year-end.
"We are optimistic the safari park will follow the success of our first theme park," he said at the launch of the group's initial public offering (IPO) prospectus here today.
Gan said the company's first park, Bukit Gambang Water Park, has received over a million visitors since BGRC's opening in July 2009. "The addition of the second theme park would stake our place as an up-and-coming leisure and hospitality destination for visitors in Malaysia and the region," he said.
Sentoria is the developer and operator of BGRC in Kuantan, Pahang one of the largest integrated resort cities in Malaysia with 218.8ha.
The group has also carved out a niche in developing affordable housing primarily in Kuantan, Pahang.
Among its ongoing projects are Arabian Bay Resort, safari park and Taman Indera Sempurna 2.
Gan said the IPO would raise RM51.6 million in proceeds, of which RM27.7 million would be used for working capital.
He said RM11.2 million would be used to repay bank borrowings, RM9 million for purchase of property, plant and equipment and RM3.7 million to defray listing expenses.
The IPO entails a public issue of 60 million new ordinary shares and an offer for sale of 40 million promoters' shares at 87 sen apiece.
By Bernama
Joint managing director, Datuk Gan Kim Leong, said the 35.28-hectare Bukit Gambang Safari Park in Bukit Gambang Resort City (BGRC) would commence operations by year-end.
"We are optimistic the safari park will follow the success of our first theme park," he said at the launch of the group's initial public offering (IPO) prospectus here today.
Gan said the company's first park, Bukit Gambang Water Park, has received over a million visitors since BGRC's opening in July 2009. "The addition of the second theme park would stake our place as an up-and-coming leisure and hospitality destination for visitors in Malaysia and the region," he said.
Sentoria is the developer and operator of BGRC in Kuantan, Pahang one of the largest integrated resort cities in Malaysia with 218.8ha.
The group has also carved out a niche in developing affordable housing primarily in Kuantan, Pahang.
Among its ongoing projects are Arabian Bay Resort, safari park and Taman Indera Sempurna 2.
Gan said the IPO would raise RM51.6 million in proceeds, of which RM27.7 million would be used for working capital.
He said RM11.2 million would be used to repay bank borrowings, RM9 million for purchase of property, plant and equipment and RM3.7 million to defray listing expenses.
The IPO entails a public issue of 60 million new ordinary shares and an offer for sale of 40 million promoters' shares at 87 sen apiece.
By Bernama
Wednesday, June 15, 2011
CMMT buys East Coast Mall for RM310m
Kuantan attraction: CMMT’s proposed acquisition of East Coast Mall is expected to be completed by the last quarter of 2011.
PETALING JAYA: CapitaMalls Malaysia Trust (CMMT), through its trustee AMTrustee Bhd, has entered into a conditional sale-and-purchase agreement with Astral Realty Sdn Bhd for the acquisition of East Coast Mall in Kuantan for a cash consideration of RM310mil.
In an announcement to Bursa Malaysia yesterday, CIMB Investment Bank Bhd on behalf of CapitaMalls Malaysia REIT Management Sdn Bhd, the management company of CMMT, said the acquisition consisted of a four-storey shopping mall with one basement level comprising retail space on the ground, first, second and third floors, together with 1,170 car parking bays at the basement level, surface car park on the ground floor, third floor and on the rooftop.
As at May 1, CMMT was the largest “pure-play” shopping mall real estate investment trust in terms of property asset value in Malaysia, and the proposed acquisition will further strengthen this position.
“Following the completion of the proposed acquisition, CMMT's property asset value is expected to increase from approximately RM2.37bil to about RM2.7bil,” it said.
CMMT intends to fund the proposed acquisition through debt and equity to be raised via a proposed placement of up to 298.971 million new units in CMMT by way of book building, representing up to 20% of the existing units in CMMT.
Barring any unforeseen circumstances, the proposals are expected to be completed by the last quarter of 2011.
By The Star
Thursday, February 10, 2011
Astral units plan mixed property development
ASTRAL Asia Bhd's units, Syarikat Ladang LKPP Sdn Bhd and Tasja Development Sdn Bhd, had signed a joint venture agreement to develop land in Pahang into a mixed property development.
In a filing to Bursa Malaysia yesterday, Astral said the 599.41ha leasehold project would comprise a commercial centre, an industrial centre, a mixed residential designs, public amenities and infrastructure.
Astral said the project incorporated a high-tech park to be named - Kuantan Hi-Tech Park.
It said upon the implementation of the proposed joint venture, the business of Astral would be diversified to include property development.
Astral is principally engaged in the cultivation of oil palm, civil engineering and construction works and property development.
By Bernama
In a filing to Bursa Malaysia yesterday, Astral said the 599.41ha leasehold project would comprise a commercial centre, an industrial centre, a mixed residential designs, public amenities and infrastructure.
Astral said the project incorporated a high-tech park to be named - Kuantan Hi-Tech Park.
It said upon the implementation of the proposed joint venture, the business of Astral would be diversified to include property development.
Astral is principally engaged in the cultivation of oil palm, civil engineering and construction works and property development.
By Bernama
Thursday, September 9, 2010
Astral unit buys land in Kuantan
PETALING JAYA: Astral Asia Bhd’s 65%-owned subsidiary, Syarikat Ladang LKPP Sdn Bhd, is acquiring 599.4ha in Kuantan from the Pahang State Agricultural Development Corp for a cash consideration of RM4.25mil.
Astral told Bursa Malaysia yesterday that the two parties had decided to revoke their original conditional agreement signed in December 2008 whereby Syarikat Ladang LKPP was to acquire 758.1ha in Kuantan for RM5.37mil.
It said its board felt the proposed acquisition of 599.4ha would be adequate for the initial phases of the development of the proposed Kuantan Hi-Tech Park.
Mah Sing gets green light
PETALING JAYA: Mah Sing Group Bhd has received notification that the Economic Planning Unit had approved its proposed acquisition of 44,313 sq m in Bukit Jelutong, Shah Alam, from Azeera Properties (M) Sdn Bhd for RM31.86mil, it says in a filing with Bursa Malaysia.
With the said approval, the sale and purchase agreement dated July 9 in respect of the proposed acquisition has now become unconditional.
PETALING JAYA: IOI Corp Bhd has completed the transfer of its 55% stake in Projects IOI (Mauritius) Ltd to Jewel Trade DMCC for US$2.75mil, it announced to Bursa Malaysia.
Accordingly, Project IOI (Mauritius) Ltd and its subsidiaries, IOI (India) Projects Private Ltd and A.P. Gems & Jewellery Park Private Ltd have ceased to be its subsidiaries.
The principal activity of Project IOI (Mauritius) Ltd and IOI (India) Projects Private Ltd is investment holding while that of A.P. Gems & Jewellery Park Private Limited is property investment.
By The Star
Astral told Bursa Malaysia yesterday that the two parties had decided to revoke their original conditional agreement signed in December 2008 whereby Syarikat Ladang LKPP was to acquire 758.1ha in Kuantan for RM5.37mil.
It said its board felt the proposed acquisition of 599.4ha would be adequate for the initial phases of the development of the proposed Kuantan Hi-Tech Park.
Mah Sing gets green light
PETALING JAYA: Mah Sing Group Bhd has received notification that the Economic Planning Unit had approved its proposed acquisition of 44,313 sq m in Bukit Jelutong, Shah Alam, from Azeera Properties (M) Sdn Bhd for RM31.86mil, it says in a filing with Bursa Malaysia.
With the said approval, the sale and purchase agreement dated July 9 in respect of the proposed acquisition has now become unconditional.
PETALING JAYA: IOI Corp Bhd has completed the transfer of its 55% stake in Projects IOI (Mauritius) Ltd to Jewel Trade DMCC for US$2.75mil, it announced to Bursa Malaysia.
Accordingly, Project IOI (Mauritius) Ltd and its subsidiaries, IOI (India) Projects Private Ltd and A.P. Gems & Jewellery Park Private Ltd have ceased to be its subsidiaries.
The principal activity of Project IOI (Mauritius) Ltd and IOI (India) Projects Private Ltd is investment holding while that of A.P. Gems & Jewellery Park Private Limited is property investment.
By The Star
Astral Asia to buy smaller plot
PLANTATION, construction and property developer, Astral Asia Bhd, has reduced the size of land it plans to buy in Kuala Kuantan, Pahang, saying it is a much better fit for its mixed property development.
Astral had entered into a sale and purchase agreement with Lembaga Kemajuan Perusahaan Pertanian Negeri Pahang , to pay close to RM5.4 million for a 749.2ha plot of land.
Astral Asia is now paying RM4.24 million for a 599.4ha plot of land.
The land is a mature oil palm estate, known as Ladang Bukit Kuin, which has been proposed for a mixed property development incorporating, the proposed development of Kuantan Hi-Tech Park.
Astral had entered into a sale and purchase agreement with Lembaga Kemajuan Perusahaan Pertanian Negeri Pahang , to pay close to RM5.4 million for a 749.2ha plot of land.
Astral Asia is now paying RM4.24 million for a 599.4ha plot of land.
The land is a mature oil palm estate, known as Ladang Bukit Kuin, which has been proposed for a mixed property development incorporating, the proposed development of Kuantan Hi-Tech Park.
By Business Times
Thursday, May 20, 2010
Kurnia Setia plans RM2b township
PAHANG-BASED oil palm plantation group Kurnia Setia Bhd (KSB) plans to invest up to RM2 billion over the next 15 years to develop an integrated township called Kota Sri Ahmad Shah (KotaSAS) in Kuantan, Pahang.
The group's maiden venture into property development will be via its property arm, KotaSAS Sdn Bhd.
KSB director Tengku Datuk Zubir Tengku Datuk Ubaidillah said the group was following in the footsteps of other plantation companies like IOI and Sime Darby, which have expanded into property development by developing their former plantation land into townships and housing estates.
"We are always looking for opportunities, although our plantation land are mainly located in remote areas. But if the areas surrounding the land have potential for property development like that of KotaSAS, we will do so," Zubir said.
Nevertheless, plantation of oil palm will remain its core business. KSB has some 14,000ha of oil palm plantations in Pahang.
"We will continue to look for other opportunities, but for now we will concentrate on developing KotaSAS since it is a big project covering a huge tract of land.
"We plan to build 10,000 units of residential and commercial units and the development will be carried out in several phases spanning 15 years," said Zubir, who also serves as KotaSAS executive director.
The proposed township is strategically located near Istana Abdul Aziz and is accessible via the East Coast Highway and the Kuantan-Kemaman bypass. It features residential, commercial, institutional and recreational components.
In line with its aim of creating a signature township with a premier location, Zubir said it will be divided into four precints with wide roads, pavements, and plenty of landscape, green open space and buffer zones.
The project will also be a low density development, with six units per acre compared with the average housing density of between 12 and 16 units per acre.
Amenities include a recreational lake, park, five schools, a public field and facitilies for polo and horse riding and go-cart activities, which will be opened to the public. The township will also have patrols by security guards.
Prices of units will be between RM200,000 and RM400,000. The first phase covering 98ha for 320 units of bungalows, semi-detached and linked houses is expected to be completed by early 2012.
A sales carnival will be held on May 28 and 29 2010 at the site.
By Business Times
The group's maiden venture into property development will be via its property arm, KotaSAS Sdn Bhd.
KSB director Tengku Datuk Zubir Tengku Datuk Ubaidillah said the group was following in the footsteps of other plantation companies like IOI and Sime Darby, which have expanded into property development by developing their former plantation land into townships and housing estates.
"We are always looking for opportunities, although our plantation land are mainly located in remote areas. But if the areas surrounding the land have potential for property development like that of KotaSAS, we will do so," Zubir said.
Nevertheless, plantation of oil palm will remain its core business. KSB has some 14,000ha of oil palm plantations in Pahang.
"We will continue to look for other opportunities, but for now we will concentrate on developing KotaSAS since it is a big project covering a huge tract of land.
"We plan to build 10,000 units of residential and commercial units and the development will be carried out in several phases spanning 15 years," said Zubir, who also serves as KotaSAS executive director.
The proposed township is strategically located near Istana Abdul Aziz and is accessible via the East Coast Highway and the Kuantan-Kemaman bypass. It features residential, commercial, institutional and recreational components.
In line with its aim of creating a signature township with a premier location, Zubir said it will be divided into four precints with wide roads, pavements, and plenty of landscape, green open space and buffer zones.
The project will also be a low density development, with six units per acre compared with the average housing density of between 12 and 16 units per acre.
Amenities include a recreational lake, park, five schools, a public field and facitilies for polo and horse riding and go-cart activities, which will be opened to the public. The township will also have patrols by security guards.
Prices of units will be between RM200,000 and RM400,000. The first phase covering 98ha for 320 units of bungalows, semi-detached and linked houses is expected to be completed by early 2012.
A sales carnival will be held on May 28 and 29 2010 at the site.
By Business Times
Thursday, July 30, 2009
Resort city to drive tourism in Kuantan
KUANTAN: Bukit Gambang Resort City, a RM1bil project undertaken by Sentoria Development Sdn Bhd, is expected to spearhead the growth of the tourism industry in Kuantan town when completed in 10 years.
Datuk Gan Kim Leong (left) at the launch. Also present is Mentri Besar Datuk Seri Adnan Yaakob (right)
Sentoria executive director Datuk Gan Kim Leong said the first phase, costing some RM140mil, had been completed.
Gan said RM100mil was spent to construct the Carribean Bay suites consisting of 578 studio, deluxe and family suites complete with a clubhouse, gymnasium, jacuzzi, infinity pool, steam room and meeting, incentive, convention and exhibition facilities.
“The water park cost RM40mil and is divided into four main components – Coco Beach, Penguin Island, Tree Top Hill Slides and Garden Terrace.
“Our target is (to attract) 500,000 local and foreign visitors in the first year of operations,” he said after the official opening of the water park by Pahang Mentri Besar Datuk Seri Adnan Yaakob last Tuesday.
Gan added that safety and security features were among the group’s main priorities and the water park and hotel had created 300 job opportunities for the locals.
“I believe the idea of a water park in the east coast is workable as people still need some form of entertainment despite the trying times.
“Our concept is nature-friendly and leans towards family-oriented activities,” he said.
He said the first phase included an active academy centre which would provide team-building facilities such as a 18-part obstacle course and high rope challenges, mini zoo, paintball and jungle trekking activities.
“At least, half the components in the water park were made locally while the remaining 50% were imported from the West.
“Among the suppliers for fibreglass structures and water pumps were renowned firms from Canada, Scotland and Australia, which conform to international standards,” he said.
Gan said the second and third phases would comprise the adventure park, forest park, east coast bazaar, global heritage and heritage square.
“In the later stages, the public can look forward to themed accommodation namely Andaman Bay, Arabian Bay, Mediterranean Beach and Hawaiian Beach,” he said, adding that the integrated city would be the “gateway to Kuantan and east coast states.”
Gan said despite the global economic slowdown, Sentoria was not hard hit as its other properties such as housing and mixed-development projects were still doing well.
He said early this year, it had completed and launched its 108-room budget hotel in Taman Indera Sempurna, which was opened to the public in March.
By The Star (by Simon Khoo)
Sentoria executive director Datuk Gan Kim Leong said the first phase, costing some RM140mil, had been completed.
Gan said RM100mil was spent to construct the Carribean Bay suites consisting of 578 studio, deluxe and family suites complete with a clubhouse, gymnasium, jacuzzi, infinity pool, steam room and meeting, incentive, convention and exhibition facilities.
“The water park cost RM40mil and is divided into four main components – Coco Beach, Penguin Island, Tree Top Hill Slides and Garden Terrace.
“Our target is (to attract) 500,000 local and foreign visitors in the first year of operations,” he said after the official opening of the water park by Pahang Mentri Besar Datuk Seri Adnan Yaakob last Tuesday.
Gan added that safety and security features were among the group’s main priorities and the water park and hotel had created 300 job opportunities for the locals.
“I believe the idea of a water park in the east coast is workable as people still need some form of entertainment despite the trying times.
“Our concept is nature-friendly and leans towards family-oriented activities,” he said.
He said the first phase included an active academy centre which would provide team-building facilities such as a 18-part obstacle course and high rope challenges, mini zoo, paintball and jungle trekking activities.
“At least, half the components in the water park were made locally while the remaining 50% were imported from the West.
“Among the suppliers for fibreglass structures and water pumps were renowned firms from Canada, Scotland and Australia, which conform to international standards,” he said.
Gan said the second and third phases would comprise the adventure park, forest park, east coast bazaar, global heritage and heritage square.
“In the later stages, the public can look forward to themed accommodation namely Andaman Bay, Arabian Bay, Mediterranean Beach and Hawaiian Beach,” he said, adding that the integrated city would be the “gateway to Kuantan and east coast states.”
Gan said despite the global economic slowdown, Sentoria was not hard hit as its other properties such as housing and mixed-development projects were still doing well.
He said early this year, it had completed and launched its 108-room budget hotel in Taman Indera Sempurna, which was opened to the public in March.
By The Star (by Simon Khoo)
Thursday, July 9, 2009
Property owners urged to settle outstanding assessment fees
TEMERLOH: All houses and business premises owners here are reminded to settle their outstanding assessment fees to avoid court action and the sealing of properties.
Temerloh Municipal Council president Datuk Zulkifli Yaakob said up to early this year, debts owed to the council stood at RM7mil.
He said during the Ops Sita conducted last month, its enforcement division managed to collect RM2mil in outstanding debts.
“We hope to recover another RM2mil in outstanding taxes before the end of this year,” he said here recently.
Zulkifli said taxpayers’ money would be used by the council to carry out various projects to upgrade infrastructures and public facilities in the district.
He said records showed that Mentakab had the highest number of outstanding debts due to the many business premises and housing estates.
“In the latest operation, we succeeded in collecting outstanding debts amounting to RM300,000 from 97 business premises and houses in Taman Temerloh Jaya.
“The move was provided for under Section 148 of the Local Government Act 1976,” he said, adding that the council would continue to initiate such operations from time to time, targeting those who were still adamant and reluctant to pay up.
Zulkifli said defaulters were being unfair to others who paid on time but utilised the same facilities managed by the council.
By The Star (by Simon Khoo)
Temerloh Municipal Council president Datuk Zulkifli Yaakob said up to early this year, debts owed to the council stood at RM7mil.
He said during the Ops Sita conducted last month, its enforcement division managed to collect RM2mil in outstanding debts.
“We hope to recover another RM2mil in outstanding taxes before the end of this year,” he said here recently.
Zulkifli said taxpayers’ money would be used by the council to carry out various projects to upgrade infrastructures and public facilities in the district.
He said records showed that Mentakab had the highest number of outstanding debts due to the many business premises and housing estates.
“In the latest operation, we succeeded in collecting outstanding debts amounting to RM300,000 from 97 business premises and houses in Taman Temerloh Jaya.
“The move was provided for under Section 148 of the Local Government Act 1976,” he said, adding that the council would continue to initiate such operations from time to time, targeting those who were still adamant and reluctant to pay up.
Zulkifli said defaulters were being unfair to others who paid on time but utilised the same facilities managed by the council.
By The Star (by Simon Khoo)
Tuesday, May 26, 2009
YNH plans condo project atop Genting Highlands
PETALING JAYA: A rare piece of land on Genting Highlands has been snapped up by YNH Property Bhd which will build holiday condominiums amid the rarefied air there.
It is believed most of the land on the highlands is owned by the Genting group.
YNH itself was surprised that there was land available and offered by a company. It completed the land purchase at the end of last year but did not announce it as the sum involved is not substantial relative to its equity.
YNH paid RM16mil for 95 acres which an official described as being on the same level as the casino. “If it’s on the Awana or Gohtong Jaya level, we wouldn’t have bought it,” a company official told StarBiz yesterday.
The Awana hotel and resort and Gohtong Jaya township are some distance below the peak of Genting Highlands and therefore, less cooling. The land that YNH bought is near the top where the temperature is around 15 to 16 degrees Celsius, he said.
Although the land YNH bought is sizeable, only 30% to 40% is suitable for development as the slope on the rest is too steep. “We’ll use the rest of the land for a golf course and jungle trekking,” the official said.
As for the development portion of the land, the official said the company estimated the gross development value (GDV) at up to RM2bil over 15 to 20 years.
It is working on a GDV of about RM50mil an acre, which it considers achievable as high-end condominium projects in the suburbs of Kuala Lumpur can have a GDV of about RM100mil an acre.
The official said the land had been converted from agricultural use to that of mixed property development. The company is preparing layout and building plans for approval from the Pahang state authorities, and hopes to launch sales next year.
Beside the cool weather, a feature that led YNH to buy the land is that there is good road infrastructure that was built by the Genting group. The land YNH bought will also be accessible by the main Genting road.
On YNH’s other projects, the official said the retail area of Kiara 163 had been sold for a total of RM200mil. Sales for the apartment units of this project in the Mont’ Kiara area of Kuala Lumpur have not been launched yet.
Meanwhile, it has also sold the retail units in the first phase of Menara YNH, near Shangri-La Hotel in Kuala Lumpur. The units in the retail podium were sold for RM300mil and the company expects to start construction of that in three months’ time.
Analysts, however, were disappointed at a recent briefing when they were informed of a further delay in the sale of one of the twin towers of Menara YNH to Kuwait Finance House. The sale and purchase agreement for that might not be signed till next year, they were told.
By The Star (by C.S.Tan)
It is believed most of the land on the highlands is owned by the Genting group.
YNH itself was surprised that there was land available and offered by a company. It completed the land purchase at the end of last year but did not announce it as the sum involved is not substantial relative to its equity.
YNH paid RM16mil for 95 acres which an official described as being on the same level as the casino. “If it’s on the Awana or Gohtong Jaya level, we wouldn’t have bought it,” a company official told StarBiz yesterday.
The Awana hotel and resort and Gohtong Jaya township are some distance below the peak of Genting Highlands and therefore, less cooling. The land that YNH bought is near the top where the temperature is around 15 to 16 degrees Celsius, he said.
Although the land YNH bought is sizeable, only 30% to 40% is suitable for development as the slope on the rest is too steep. “We’ll use the rest of the land for a golf course and jungle trekking,” the official said.
As for the development portion of the land, the official said the company estimated the gross development value (GDV) at up to RM2bil over 15 to 20 years.
It is working on a GDV of about RM50mil an acre, which it considers achievable as high-end condominium projects in the suburbs of Kuala Lumpur can have a GDV of about RM100mil an acre.
The official said the land had been converted from agricultural use to that of mixed property development. The company is preparing layout and building plans for approval from the Pahang state authorities, and hopes to launch sales next year.
Beside the cool weather, a feature that led YNH to buy the land is that there is good road infrastructure that was built by the Genting group. The land YNH bought will also be accessible by the main Genting road.
On YNH’s other projects, the official said the retail area of Kiara 163 had been sold for a total of RM200mil. Sales for the apartment units of this project in the Mont’ Kiara area of Kuala Lumpur have not been launched yet.
Meanwhile, it has also sold the retail units in the first phase of Menara YNH, near Shangri-La Hotel in Kuala Lumpur. The units in the retail podium were sold for RM300mil and the company expects to start construction of that in three months’ time.
Analysts, however, were disappointed at a recent briefing when they were informed of a further delay in the sale of one of the twin towers of Menara YNH to Kuwait Finance House. The sale and purchase agreement for that might not be signed till next year, they were told.
By The Star (by C.S.Tan)
Tuesday, July 15, 2008
Pasdec to start 46ha Bukit Tinggi project next year
KUANTAN: Pasdec Holdings Bhd remains committed to its core strength in property-related activities such as construction and management of resorts and building.
Its projects include a tourism-related development on 46ha in Bukit Tinggi, Bentong, by 70%-owned subsidiary Bentong Aquarium & Sanctuary Park Sdn Bhd.
If all went well, construction would commence next year, Pahang Mentri Besar and Pasdec chairman Datuk Seri Adnan Yaakob told reporters after the company AGM recently.
Asked if the project could take off following tremors recorded in Bukit Tinggi, he said its structural design would be styled after buildings in Japan so that it could withstand any future tremors.
Group managing director Yusof Ali Mohamed Zain said the project, costing about RM85mil, would feature an aquarium with 5,000 types of fishes including sharks and fresh-water fish.
“It will also include banquet and conference facilities that can accommodate up to 1,000 people,” he said.
Yusof Ali also said there were plans for a heritage water park comprising landscaped pools with streams, waterfalls and a tropical rainforest reserve with eco-park and botanical garden.
He added that it could provide education and training and had the potential to be a centre for captive rehabilitation and breeding programmes.
“There are plans to work with local learning institutions involved in aquaculture and veterinary sciences,” he said.
By The Star (by Roslina Mohamad)
Wednesday, April 16, 2008
Project to give town an economic boost
Pasdec's mixed township to be completed by 2015
Yusof Ali Mohamed Zain
KUANTAN: The Bandar Putra project in Tanjung Lumpur comprising more than 3,300 residential and commercial properties is expected to give the fishing town a facelift and an economic boost.
Launched in February and costing about RM850mil, the project is being undertaken by Pasdec Holdings Bhd.
The project's mix of residential, commercial and recreational components comprising single- and double-storey semi-detached houses in 38 innovative designs will be developed on over 167ha of freehold land.
A new dual-carriageway currently under construction will, when completed, cut travelling time between Pekan and Kuantan by half.
Pasdec group managing director Yusof Ali Mohamed Zain said the project would be developed in stages over 10 years, with full completion scheduled in 2015.
Yusof Ali Mohamed Zain
“The first phase comprises 69 single- and double-storey medium-cost link houses costing RM146,888 onwards and 32 semi-detached single- and double-storey houses priced from RM245,888.''
Some 90% of the 209 medium-cost houses priced at RM63,888 that would be managed by the Pahang State Secretary housing unit had been sold, he told StarBiz on Monday.
Eight of the semi-detached double-storey houses were sold out one week after registration opened recently.
Yusof Ali also said Bandar Putra was expected to get a boost in value given that a leading healthcare provider had agreed to set up a hospital and a hotel there to tap the potential in health tourism in the east coast region.
“There is interest in trying to woo people from Thailand to come here to enjoy the tourism attractions and at the same time, have a medical check-up or seek treatment.
“Even now, people from Terengganu are flocking the private hospitals in Kuantan for medical treatment,” he added.
The companies were now at the final stage of discussions to iron out the details, he said, adding that an announcement would be made soon.
By The Star (by Roslina Mohamad)
Monday, March 3, 2008
MTM sees brisk sales for project
MTM Millennium Holdings Sdn Bhd expects its maiden development project, Casa Dal-Hanaa in Cherating, Pahang, to be fully sold out by end of this year.
The freehold, gated community development comprises Mediterranean-flavoured villas (20 units) and apartment suites (49 units), with tropical landscaping. The project was expected to be completed by the end of 2009.
MTM Millennium executive chairman Datuk Seri Mohamad T. Al-Ozeir said sales had been satisfactory since the project was launched.
The prices range from RM550,000 for an apartment suite to RM5.8mil for a deluxe villa.
The built-up areas of the villas are from 3,675 to 6,800 sq ft, while an apartment suite has built-up area of between 1,000 and 4,200 sq ft.
Mohamad said prices were subject to change depending on currency fluctuation, cost of materials, and demand and supply.
The properties are targeted at buyers not only from this country but also from around the world who seek a luxury holiday villa fronting the sea.
By The Star
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