Mah Sing: Demand for houses in JB to rise

By The Star

JOHOR BARU: Mah Sing Group Bhd sees a boost in the demand for houses here with the implementation of the Iskandar Development Region and Singapore’s Sentosa Integrated Resorts projects.

“The population in Johor Baru will definitely increase due to the rise in job opportunities within the regions,” chief operating officer Ng Heng Phai said.

In view of this, the housing developer’s third project in Johor – the Sierra Perdana – was launched early this year.

Ng Heng Phai

Sierra Perdana, located in the Tebrau-Plentong area, was an ideal place to live for those working in the region, Ng told a press conference on Thursday.

The township was 18km from Johor Baru, 12km from the North-South Expressway and 35km from Senai airport, he said, adding that the township of modern and adventure living was targeted at buyers aged between 20 and 30.

He said a safari adventure park would be constructed linearly across the township to provide more greenery.

“Statues of animals such as elephants and giraffes will be placed along the paths to create a safari-like atmosphere,” Ng said.

Located on a 261-acre site, Sierra Perdana is a medium-range mixed-residential and commercial project with an estimated gross development value of RM526mil. It will comprise at least 3,589 residential units and 1,139 commercial units when fully developed.

Ng said the first batch of buyers could expect to receive their keys by mid-2008.

He said the group would also be launching its double-storey semi-detached homes, double-storey terrace homes and double-storey shoplots next year. The houses will be priced from RM178,000 to RM340,000.

Ng said the company had also launched a nationwide reward programme – the Mah Sing Treasure Blitz – in which house buyers stand a chance to win a bungalow worth RM800,000 and a business suite in Austin Centre Point worth RM88,000.

Ng said prizes worth a total of RM2mil would be given away. - by Ng Heng Phai

Higher GDV for Indon project of Landmarks

By The Star

KUALA LUMPUR: Landmarks Bhd expects the gross development value (GDV) of its proposed Bintan Treasure Bay project on Bintan Island, Indonesia to exceed its original estimate of RM4.07bil.

According to chief operating officer Lim Boon Soon, the master plan for the development, which was supposed to be announced by year's end, was being fine-tuned to ensure better yields.

“We expect the GDV to be substantially more than RM4.07bil and we will announce this by the first quarter of next year,” he told reporters after the company's EGM yesterday.

In May, Landmarks unit of Primary Gateway Sdn Bhd paid RM350.5mil for a 64.5% stake in Bintan Treasure Bay Pte Ltd (BTB). BTB is an investment holding company that owns 338ha of leasehold land via indirect subsidiary, PT Pelangi Bintan Indah.

Lim Boon Soon

The company subsequently increased its stake in BTB to 74%, paying RM53.3mil for the additional stake.

“We would like to increase the shareholding in BTB if minority shareholders are interested in selling,” Lim said.

The project, which should be fully developed in eight years, will comprise about 13 lots of estate island villas, 745 luxury island and deluxe villas with berthing facilities, 1,700 marina and hillside condominium units, 220 commercial shoplots, four hotels and one six-star resort and wellness centre.

“We are looking to increase the number of condominium units and the size of saleable land, which may be sold in parcels,” Lim said.

In a move to free its resources and fully focus on its core operations, Landmarks – which has been divesting its core assets like Sungei Wang Plaza and its 26.6% stake in hotel operator Shangri-La Hotels (Malaysia) Bhd – intends to keep its fully-owned Andaman Resort in Langkawi.

“Given the right price, we would dispose of our 20% stake in Tenaga Perlis Consortium Sdn Bhd, which operates a 650-MW power plant in Perlis,” he said.

Asked for an update on the speculated casino development in Bintan, Lim said the company was just studying the possibility of obtaining a licence from the Indon government. - by LAALITHA HUNT

KSL increasing landbank outside Johor

By The Star

PETALING JAYA: KSL Holdings Bhd, a developer with projects in Johor, is beefing up its landbank outside the state, which is expected to boost its earnings next year.

TA Securities in a research report said KSL had acquired about 500 acres near Bandar Bukit Tinggi in Klang. According to sources, at RM8 to RM8.50 psf, the purchase cost is well below the market price.

The group was planning a mixed development township there to replicate its success in Johor. “Based on our experience, it would take at least nine months before the first launch, hence we can expect the maiden contribution (from the project) to be in by fourth quarter 2008 or early 2009,” said the report.

According to the research outfit, this development is set to be the company's next earnings driver in the longer term.

“KSL is also poised to benefit from the Iskandar Development Region (IDR) with its cheaply acquired sizeable landbank of more than 1,100 acres strategically located in the IDR area and the Johor Baru City Centre,” the report said.

“Based on our recent talk with the management, the gross development value of its IDR project of more than RM2.5bil is expected to keep the company busy for the next five years.” It said the company's sales and earnings for the remaining year would continue to be from its flagship developments in Johor, namely Taman Bestari Indah, Taman Nusa Bestari, Taman Kempas Indah and Maharani Rivera.

“Its long-term lease of the RM20mil mini-complex in Maharani Rivera with Giant Hypermarket (effective July) is expected to generate a stable recurring income of RM4mil per annum, offering a fairly attractive rental yield of 20%.''

TA Securities has maintained a “buy” call on the counter with a target price of RM2.75. KSL closed yesterday at RM2.17, up 8 sen, on volume of 298,900 shares. - By Eileen Hee

Magna Prima buys 4ha of KL land for development

By The Star

KUALA LUMPUR: Magna Prima Bhd yesterday sealed a deal to acquire 4.09 hectares of prime land along Jalan Kuching here for a mixed development project with a gross development value of about RM730mil.

The project is anticipated to kick off and launch for sales within the next six months with completion targeted for 2010, Magna Prima said in a statement.

Magna Prima will fully undertake the project, which will feature 20 units of three-storey shops; two blocks of 200 signature offices; one block of 15-storey offices; a hypermarket on the lower ground and ground floors; five levels dedicated to retail shops, departmentstores, a cineplex and bowling centre; two blocks of 800 service apartments and three levels of underground parking with about 5,000 bays.

The total gross development floor area is estimated to be 3.187 million sq ft, excluding the parking area.

“The acquisition of this land is in line with Magna Prima’s business model, which is purchasing land with development order for fast turnaround time,” executive director and chief executive officer Lim Ching Choy said.

“This development carries numerous potential and business opportunities, especially since it is located in a high density and established area with a high population,” he said. – Bernama

City of pictures

By New Straits Times

Thousands thronged ’Canon City’, the exhibition put up by the camera company recently to showcase and educate the public on its latest products. NOEL ACHARIAM got the picture.


Lifestyle zone: visitors testing out the new SLR digital cameras

CANON Marketing Malaysia in conjunction with its 20th anniversary launched its first expo in eight years at the Kuala Lumpur Convention Centre (KLCC) last Tuesday. It was a celebration like no other. There were door gifts, lucky draws and souvenirs. And the highlight of the celebration was the ribbon cutting ceremony by Hong Kong Superstar Simon Yam.

“We were expecting about 20,000 visitors by the end of the three-day event,” said Richard Yeow, senior director and general manager of Business Imaging Solution and Corporate Strategic Marketing divisions.

“We built “Canon City” at the exhibition to allow the public to view the technology Canon had to offer,” said Yeow.

I was amazed to find that Canon had such a huge range of products from copiers to scanners, printers and other office equipment. I only knew that Canon was a successful digital camera maker, but had no idea of the company’s scope or their R&D efforts.
“Canon not only produces great quality cameras but also other multimedia products for both the layman and the corporate sector,” said Yeow.

Thousands of visitors thronged Hall 2 of the KLCC in search of bargains and to keep up to date with the latest accessories and products. Every 1,000 visitor got the chance to win a digital camera. There were also seminars held every half hour on such subjects as how to take a great picture using a compact camera, and electronic document filing and retrieval systems.

The entrance to the expo was built to represent a garden with park benches, a water fountain and floral decorations.

Other sections at the expo were City Hall, City at Work, Lifestyle Zone, Commercial Zone, Hall of Fame, Specialist Centre, Human Capital, Canon Mall, Creative Park and Business Precinct.

The Specialist Centre were where visitors could get their cameras cleaned for free. The Human Capital area focused on marketing career opportunities with Canon. The Lifestyle Zone showcased a wide range of Canon SLR digital cameras which visitors could try out. There were also game booths at the far end of hall.

At the Creative Park, children were taught origami from Canon’s interactive website, http://cp.c-ij.com/english/ There were also free downloads of calendars, scrapbooks, 3-D paper art, greetings and a digital photo library from the website.

The best part of the exhibition was at the game booth “Spin the Wheel”, where one got the chance to walk away with a brand new Canon A460 digital camera. Other prizes were discounts that ranged from 30 to 50 per cent for all Canon products.

The Hall of Fame was interesting too. Here you got to see the first Canon camera ever built. The Kwanon (prototype version) is Japan’s first 35mm focal plane shutter camera, built in 1934. Also on display was Canon’s first photocopier and 10-digit calculator. The Kwanon camera is now worth more than RM100,000.

“At Canon our motto is ‘Delighting you always’ and that is what we want you to feel when you walk away with any of our products,” said Yeow.

For more information, call Canon Malaysia at 03-7844-6000, fax 603-784-5050 or visit its website at www.canon.com.my.

by NOEL ACHARIAM

Country Heights in property sale talks

By New Straits Times

The earliest possible date to conclude the sales of Malaysia International Exhibition and Convention Centre, and the Mines Waterfront Business Park is June 2008, a source says

COUNTRY Heights Holdings Bhd (CHHB) is in talks with several local and foreign parties for the disposal of two remaining components identified for sale, to help the company bounce back to profitability.

CHHB had identified three properties to sell that will wipe out its debt - the Mines Shopping Fair, Malaysia International Exhibition and Convention Centre (MIECC) and the Mines Waterfront Business Park.

In August, the Mines Shopping Fair was sold to Singapore's CapitaLand Ltd for RM432 million, from which CHHB will make an estimated gain of RM102 million.

This single sale has helped improve gearing to 0.6 times from 1.5 times and reduced interest rate on loans by half from RM50 million annually.

"Serious efforts are being made to really bring down gearing to a minimal level," a source told Business Times.

"CHHB has been receiving enquiries and offers from time to time for the exhibition centre and the business park. The earliest possible date when the deals are likely to be concluded is June 2008," the source added.

In June, the company announced that it plans to dispose of assets with an estimated market value of RM800 million to help wipe out debts and reverse its losses for the year ending December 31 2008.

Based on a valuation done four years ago, the net book value of Mines Waterfront is RM100.68 million and MIECC RM211.57 million.

However, it is believed that CHHB is seeking at least RM250 million for the MIECC and RM100 million on the first phase of the Waterfront Business Park.

"If they are able to fetch this amount or more, they will be able to bring their gearing level to zero," the source said.

The three properties, held by East Vision Leisure Group Sdn Bhd, have been pledged as security for a RM489 million loan.

CHHB managing director Tan Sri Lee Kim Yew has said that both the shopping centre and business park are profitable but the exhibition centre is not.

Lee wants to expedite the sales as its total debt as at end of March was RM838 million or 1.5 times its shareholders' equity of RM566 million.

Over the past 10 years, CHHB has paid over RM50 million just on interest from its borrowings. Last year, it made a group net loss of RM32.69 million on the back of RM213.17 million in revenue.

For the half-year ended June 30 2007, CHHB made RM200,000 in profit on the back of RM120.32 million in revenue. This compares to a net loss of RM19.99 million and a revenue of RM98.36 million in the previous corresponding period.

Magna Prima buys land in KL for RM58m

By New Straits Times

MAGNA Prima Bhd, a property developer, has agreed to buy two pieces of land in Kuala Lumpur for some RM58 million from Muafakat Baru Sdn Bhd.

It plans to build properties worth some RM730 million on the 4.1ha of land located next to Jalan Kuching and the intersection between Jalan Kuching, Jalan Ipoh and Jalan Kepong.

It will use internal funds or borrowings to pay for the land, which already has a development order from City Hall. Magna Prima will build a shopping mall and two blocks of service apartments, among others, it said in a statement to Bursa Malaysia yesterday.

Landmarks eyes RM4b yield from Bintan project

By New Straits Times

Meanwhile, the property developer denies that it would get a gaming licence for the Bintan resorts

PROPERTY developer Landmarks Bhd expects the gross development value (GDV) to be derived from its integrated project in Bintan Island, Indonesia, to be more than RM4 billion.

Chief operating officer Lim Boon Soon said the masterplan for the project was currently being fine-tuned in order to look into the possibility of increasing yield.

"We will be finalising the numbers and the plan, hopefully by the first quarter of next year," he told reporters after the company's extraordinary meeting in Kuala Lumpur yesterday.

Lim said there was a slight delay in the finalisation of the plan due to the possibility of increasing the GDV.

"We are looking at all things, including the number of condominiums, the kind of property and the size of saleable land at the place," he said.

Lim denied that Landmarks would get a gaming licence for the Bintan resorts.

"It is a rumour. There is nothing on the table for us yet," he said.

The Bintan project, with a GDV of RM4.07 billion, would include a lifestyle hotel and resort, plus residential and commercial development.

Landmarks will invest RM408 million to acquire 74 per cent interest in Bintan Treasure Pte Ltd, which is developing the project.

Bintan Island is increasingly being shaped as a cheaper holiday destination than Singapore, where land price has escalated due to the building of two multi-million integrated resorts in Marina Bay and Sentosa Island. - Bernama

TAHPS property launches to breach RM200m

By New Straits Times

The developer is repositioning itself from the middle range to mid- to high-end property segments

TAHPS Group Bhd's property launches in fiscal 2008 will breach the RM200 million mark, amid an image makeover to capitalise on untapped market segments.

A real estate foray abroad is also on the cards for TAHPS, developer of the RM3 billion "Bukit Puchong" township on 516ha of freehold land in Puchong, Selangor.

It has, so far this year to March 2008, unveiled within the half-completed township, phase two of its "Nilam Puri" high-rise homes with a gross development value of RM42 million, and the RM46 million "Ametis Terraces".

Upcoming launches include the RM85 milllion first phase of the "Parkville" townhouses which will be launched today and some RM50 million worth of luxury semi-detached units, and bungalows in February 2008.

"We are repositioning ourselves from the middle range, to mid- to high-end property segments," said C.Y. Ng, marketing manager for Bukit Hitam Development Sdn Bhd, a wholly-owned unit of TAHPS.

"Demand for townhouses here (Puchong) is good because it will fill a void in the market place," Ng added.

Bukit Puchong, built on a former plantation land, was initiated in 1994. It is due for completion by 2015 with a planned estimated 10,000 residential and commercial units.

Besides land in Puchong, TAHPS also has some 400ha of potential development sites in the form of yet-to-be-converted plantation tracts in Raub, Pahang.

The combined 916ha is expected to keep the home builder busy for up to the next ten years.

Main board-listed TAHPS, formerly known as The Ayer Hitam Planting Syndicate Bhd, also plans to build and run a hotel and beach resort in Cherating, Pahang, according to its filings to the bourse.

Meanwhile, Bukit Hitam general manager Lim Jee Kong said TAHPS has received overseas real estate job proposals, with potential undertakings in Vietnam and Australia.

"We are studying the proposals," said Lim. Property development constitutes 82 per cent of TAHPS revenue, he added.

Net profit in the first quarter to June 2007 dropped 30 per cent to RM3 million, or 3.96 sen a share, while revenue declined 26 per cent to RM17.9 million.

Shares of TAHPS which were untraded yesterday, last changed hands at RM3.98 onWednesday for a market capitalisation of RM297.2 million.

The stock has gained three per cent this year, underperforming the benchmark index's 27 per cent rise.

SunCity expects 50pc revenue jump from hospitality ops

By New Straits Times

For July 1 2008 to June 30 2009 period, the developer expects hospitality to bring in RM253 million in revenue

SUNWAY City Bhd (SunCity), a developer that also owns and operates hotels, expects revenue from its hospitality business to jump 50 per cent by the end of fiscal 2009 as it lures more visitors and raises rates.

It now owns and operates five Sunway hotels and manages four Allson hotels. However, the revenue growth does not take into account four new hotel management contracts that start in 2008 and 2009.

"For the July 1 2007 to June 30 2008 period, we are expecting revenue to be RM210 million and for the June 30 2009, we expect hospitality to bring in RM253 million in revenue. This is about a 19 per cent growth," managing director of Allson International Hotels & Resorts, Jean-Jacques Kiefer said.

SunCity's hospitality segment made RM166.73 million in revenue in fiscal 2007, which is about 15 per cent of the group's total.

The Sunway Resort Hotel & Spa is leader of the pack, making up half of the division' revenue. It is due to provide better quality after completing an ongoing RM80 million upgrade.

This hotel, which has an average room rate (ARR) of RM285 a night and an occupancy of 80 per cent, expects ARR to touch RM330 a night and average occupancy of 85 per cent in June 2008.

"On average, all our hotels deliver a gross operating profit (GOP) of 40 per cent," SunCity's managing director of property investment Ngeow Voon Yean said.

GOP is the cost of doing business or gross revenue (from rooms, food and beverage, laundry or business centre) minus the cost of operations (wages, electricity and amenities).

Other hotels under the group are Sunway Hotel Georgetown in Penang, Sunway Hotel Seberang Jaya in Prai, Sunway Hotel Phnom Penh in Cambodia and Sunway Hotel Vietnam.

The hotels that SunCity manages include Allson Residence Jakarta, Allson Hotel Singapore, Klana Resort Bandar Baru Nilai and Allson Klana Resort Singapore.

Meanwhile, it is likely to win two management contracts each in Malaysia and abroad in 2008 and 2009.

"In Malaysia, we are close to signing a management contract to operate a four-star hotel in Klang and Kuala Lumpur. Both are going to be built, and each of the hotels have over 200 rooms," Ngeow said, adding that the hotels will carry the Allson brand.

Similarly, it expects to take over the management contracts of two existing hotels in Siem Reap, Cambodia.

Ngeow said it will start operating the existing hotels in 2008, while the two hotels in Malaysia will be ready in 2009.

"We are also looking for hotels where we already have a footing. We are looking aggressively in Cambodia and Vietnam," Ngeow said, adding that one of the negotiations is for a hotel in Vietnam.

Malaysia & International Prime Properties Investment Fair 2008

Malaysia's prime properties currently rank among the most affordable in pricing internationally, according to experts in real estate. With various incentives to attract foreign property investors by our Goverment, such as the recent abolition of Real Property Gain Tax and the introduction of "Malaysia, My Second Home" Programme, NOW is the Right time to target the international buyers!

Venue: Suntec Singapore International Convention & Exhibition Centre
Date: 19 - 20 January 2008


Singapore 'Offers' Ready Market
With limited land for development, Singapore's real estate prices have escalated to a record-high amongst Asian countries. Hence, Singaporean investors are now looking elsewhere and there is no better place than Malaysia:

• Our property prices are much lower comparatively
• Our properties are extremely affordable in SGD value
• Geographically in close travelling distance
• Good infrastructure & road system
• Political stability
• Familiarity with local culture & languages

Exhibit Profiles:
• Malaysian & International Property Developers.
• Malaysian & International Property Agents.
• Retail/Commercial Banks
• Financial Services Companies & Fund Houses
• Malaysian Authorities & Government Bodies in the Housing & Property Industry
• Related businesses & services companies

Property Seminar:
"Now is the Right Time To Invest In Malaysia"
Our distinguished speakers will share useful & latest information with interested investors and visitors at the 2-day event. The panel includes Mr. Ho Chin Soon of Ho Chin Soon Research Sdn Bhd; Mr.Micheal Geh of Raine & Horne International and Ms.Juanita Chin of Elite Properties amongst others.


This Event is brought to you by:
CYANS EVENT MANAGEMENT
Address: 22-1A, Jalan 3/109C, Taman Abadi Indah, 4th mile Jalan Klang Lama, 58100, Kuala Lumpur
Tel: 03-7980 4321, 7980 8950,
Fax: 03-7982 6890
Please visit website for Malaysia & International Prime Properties Investment Fair

BRDB to ride on upcycle

By The Star


Upcoming property projects bode well for company, say brokerages

PETALING JAYA: Bandar Raya Developments Bhd (BRDB) is expected to ride on the current Malaysian property upcycle, thanks to its upcoming strategic projects, OSK Investment Bank Bhd said.

The projects, with gross development value (GDV) of more than RM4bil, coupled with the revival of Capital Square in Kuala Lumpur, is anticipated to give BRDB strong prospective earnings growth till at least 2010.

The company's current projects include The Troika at KLCC and One Menerung. The projects worth about RM318.8mil and RM444.3mil respectively had a combined unbilled sales of RM771mil as at Aug 3.

Analysts believe that BRDB's earnings growth for the financial year ending Dec 31 (FY08) and FY09 would be further fuelled by other mid-to-high development projects in the Klang Valley with total GDV of RM1.9bil. They noted that the company's projects were mostly sited in areas highly targeted by affluent locals and expatriates.

OSK said BRDB was expected to have more than RM1bil worth of investment property assets by 2010, potentially generating an annual rental income of over RM90mil.

Backed by reasonable yields, good prospects of capital value appreciation and a sufficiently large asset base, analysts believe there was a strong likelihood these investment properties might be repackaged as a real estate investment trust by 2010.

According to the report, BRDB is looking to turn around and divest in Mieco Chipboard Bhd, its 56.8%-owned subsidiary and the second largest chipboard company in the Asia-Pacific, to focus on its lucrative property development arm in one or two years.

An analyst at CLSA Asia Pacific Markets concurred that BRDB's upcoming projects would have a positive impact on the company's earnings in the next two years.

CLSA has said BRDB was in the final stages of concluding the sale of one of its office blocks in Capital Square to an international real estate fund. The brokerage pointed out that the deal, worth RM426mil, was projected to add an additional RM85mil to profits over the next three years, adding that BRDB would also restructure Mieco before selling it.

CLSA has a “buy” call on the counter. It said BRDB was trading at bargain basement valuation at FY08 price/earnings ratio of eight times, which may drop to four times in FY09.

The counter closed 20 sen higher at RM3.32 yesterday.

I&P confident of good response to Alam Sari

New Township: (From left) Jamaludin explaining the project to Najib. Looking on are I&P chairman Tan Sri Mohd Zuki Kamaludin and PNB chief executive officer Tan Sri Hamad Kama Piah Che Othman

Island & Peninsular Bhd's (I&P) latest township project called Alam Sari in Bangi should boast a gross development value of RM 1 billion, chairman Tan Sri Mohd Zuki Kamaludin said.

The township is being built on one of Bangi's last parcels of freehold land, measuring 175.16 hectares.

The township will house about 3,435 residential units with an estimated population of 17,00 people on completion in eight to 12 years," Zuki said at the launch of Alam Sari by Deputy Prime Minister Datuk Seri Najib Tun Razak.

Sales of the first phase will be held on Saturday, with construction works due to start early next year.

I&P managing director Datuk Jamaludin Osman is confident that the project would be well received due to the scarcity of freehold land in Bangi.

"Last year, we introduced art into our township to create Alam Impian in Shah Alam. This year, our new township takes on a different concept - academia, inspired by its location," Jamaludin said.

Among the institutions and centres neighbouring Alam Sari township are Universiti Kebangsaan Malaysia, German Malaysian Institute of Technology, Nuclear Malaysia, Malaysian French Institute and the Petronas Management Training Centre.

It will develop 90 units of double-storey terraces called Ilmia in the first phase. The houses, measuring at 22x75 and with a built-up area of 2,099 sq ft to 2,271 sq ft, are priced from RM248,008 to RM512,760.

I&P said the response so far had been overwhelming with some 2,000 people registering to own one of the 90 units.

Jamaludin said the second phase is expected to be launched in January or February, offering 60 units of double-storey terraces.

I&P, he said, would try to keep the units available in the second phase affordable amid a 25-30 percent increase in material cost in recent months.

Besides the 175.16 hectares, I&P owns another two plots of yet-to-be-developed land in Bangi. One measures 283.5 hectares and the other 202.5 hectares.

By New Straits Times

A&M launching phase one of Amverton Park today

By The Star

PETALING JAYA: A&M Realty Bhd launches today the first phase of its latest project, Amverton Park @ Bukit Kemuning Golf & Country Resort, by offering 44 units of exclusive bungalows.

The development offers Australian-styled architecture that emphasises on open space living and landscaping. The layout was planned to maximise the use of space for practicality and comfort, said executive director Steven Ng.

The bungalows are available in five designs under the first phase, with built-up areas of between 3,800 sq ft and 5,500 sq ft. The price ranges from RM1.5mil to above RM2mil.

Ng said construction of the first phase would be completed in two years. “We are not rushing because this project will set the benchmark for our Amverton series of innovative products,” he told StarBiz.

Amverton Park is targeted at upgraders, mostly professionals and business owners, who are looking for a spacious home that offers a comprehensive quality lifestyle package for the whole family.

Ng said the project was unique as it was the first Australian-inspired housing project in Malaysia.”It is also the only property that offers a home that includes a unique lifestyle package. It encourages wholesome healthy living in a secured environment.

“Residents of Amverton Park can enjoy the landscaped, wide open space of the neighbourhood. There is also a clubhouse with amenities such as golf course, restaurants, shops, a gymnasium, swimming pool and spa,” he added.

A hotel is also in the planning and a plot of land had been reserved at the clubhouse for this purpose.

A total of 147 homes are planned at Amverton Park, to be developed in five phases by AMJ Properties Sdn Bhd, a subsidiary of A&M Realty. The 30-acre freehold development has a gross development value of RM250mil. Amverton Park is located within established neighbourhoods of Kota Kemuning, Bukit Rimau, Kemuning Utama and Berjaya Park. It is accessible via the Shah Alam Expressway.

INTRADE MALAYSIA 2007

Intrade Malaysia 2007
Date: 12 - 15'November 2007
MATRADE Exhibition and Convention Centre (MECC),
Menara MATRADE, Kuala Lumpur.

Visit INTRADE MALAYSIA 2007,
the international trade fair that showcases products and services from over 37 industry clusters.

Come November 2007, Malaysia will host the International Trade Malaysia 2007 (INTRADE MALAYSIA 2007) Exhibition that offers you the gateway to global opportunities. It is the choice trade exhibition that makes Malaysia your leading ASEAN destination to global trade.

With the theme “Fostering Business Collaborations”, INTRADE MALAYSIA 2007 enables you to further develop business opportunities for trade, investments and bilateral cooperation with the international business community.

What Makes Malaysia Your Choice?

• The heart of thriving ASEAN and the fastest developing nation in the region.
  
  
• Ranks among the world’s top 20 trading nations.
  
  
• Enjoys strong trade links with major trading nations in the world and trades with more than 200 countries globally.
  
  
• Registered a total trade in excess of RM1 trillion in 2006. GDP growth for 2007 is projected between 5.5 and 6.0 per cent.

INTRADE MALAYSIA 2007 features:

• An international trade exhibition showcasing a wide range of quality products and services from around the world;
  
  
• Incoming Buying Missions (IBMs) up to 500 buyers worldwide will be arriving for one-on-one business matching sessions; and
  
  
• The Kuala Lumpur International Trade Forum (KLITF) -- the congregation of international business leaders, entrepreneurs and industrialists for global networking and exchange of ideas and experiences.

Why visit?

• Over 700 International Buyers
• Over 300 Exhibitors from 37 industry clusters
• KL International Trade Forum 2007
• Business Networking
• Explore trade opportunities

For more information log on to www.intrademalaysia.com

Glomac set to sell tower for RM 577m

By New Straits Times



An Artist's impression of the Glomac Tower

PROPERTY developer Glomac Bhd may sell its yet-to-be-built Glomac Tower to Prestige Scale Sdn Bhd for RM577 million.

"The purchaser has paid a sum equivalent to two per cent of the purchase consideration as earnest deposit," Glomac said in a statement to Bursa Malaysia yesterday.
It did not say who owns Prestige Scale. Glomac Tower is a 40-storey grade A office tower located next to the Petronas Twin Towers.

Construction is due to take off next year. The project is a venture between Glomac and Al Batha Group, one of the largest private business groups in the United Arab Emirates.

Amverton Park

AMVERTON PARK
@BUKIT KEMUNING GOLF & COUNTRY RESORT

Perfectly nestled in a prime residential haven, Amverton Park @ Bukit Kemuning Golf & Country Resort is the essential address for the discerning.

These freehold gated and guarded bungalows offer you an opportunity to enhance the way you and your love ones live. Amverton Park, the perfect place for you to live, play and unwind...



Experience it with your family at our special viewing event on:
2nd November 2007 (1pm - 7pm)
3rd November & 4th November 2007 (10am - 7pm)
or call 03-5122 8889 for an appointment.
Ballon sculpture and sand art for children on Saturday 3rd & Sunday 4th November 2007. Refreshments will be served through out.
Source website: http://www.amvertonpark.com


live . play . unwind

A rare gem in Puchong

By The Star

Nilam Puri Condominium and Ametis Terraces epitomise quality living

AT the forefront of Puchong’s growth explosion, Bukit Puchong is fast becoming a desirable address.

Developed by Bukit Hitam Development Sdn Bhd (Bukit Hitam), the hot 1290-acre Bukit Puchong is riding on the new wave of Puchong’s property growth.

The clubhouse and swimming pool

With innovative products and contemporary designs to meet the demands of an increasingly sophisticated market, the developer is confident with sales generated from recent launches, namely its Nilam Puri Condominium range, as well as its Ametis Terraces properties.

The Nilam Puri range and Ametis Terraces are Bukit Puchong’s flagship properties, which epitomise Bukit Puchong’s characteristics of a quality and modern environment for good living.

More importantly, it allows prospective buyers to own a piece of freehold property located in a thriving, well-planned integrated township.

A modern kitchen

Nilam Puri: Affordable Housing with Sophistication

Nilam Puri features the township’s latest array of quality homes with easy access.

Comprising a total of 272 units, the first phase of Nilam Puri boasts of impressive sales, having achieved 100% take-up rate upon completion and handover in August 2006.

The second phase, essentially an upgrade of the first, has a larger and more spacious built-up area ranging from 947 to 1,173 sq ft.

The developer is optimistic about the successful take-up rate of the second phase based on that of the first.

Meanwhile, Phase Two, which has all of Phase One’s features and more, comes with value-added finishes and extras.

Each unit in the second phase accommodates three bedrooms and two bathrooms and comes with a car park bay.

Clean lines in the bedroom

Most of the units in this phase offer a view of either the swimming pool or the landscaped garden.

Young professionals and entry-level house buyers are the main target for the second phase, which comes with security and a surprisingly reasonable price tag ranging from RM132,888 to RM228,888.

Nilam Puri also features a resident clubhouse with swimming and wading pools, gymnasium, a children’s playground and a multi-purpose hall.

“With full fledged amenities and a right balance of residential, commercial and industrial properties, we believe that buyers will get to know the real value of good living in Puchong. And Nilam Puri units are comparatively priced”, said Lim Jee Kong, Bukit Hitam’s general manager.

Nilam Puri Condo Phase Two is expected to draw a total gross development value (GDV) of RM42mil. Construction work is ongoing, and is expected to be completed by September 2009.

As part of its promotional campaign, the developer is giving away RM1,000 worth of home electrical products.

Meanwhile, buyers at the launch can also enjoy the buyer-get-buyer scheme and a referral incentive of RM1,000 for every successful sale.

To get to the Nilam Puri Phase 2 show unit, visitors can use the dedicated BBP interchange on the LDP just before the last toll to Putrajaya.

No-fuss dining room

Ametis Terraces: Secured Living, Open Spaces

Launched early this year, Ametis Terraces comprises 120 units of low-density 2 1/2-storey and 2-storey residential development designed for secured living in the heart of Bukit Puchong.

The Ametis Terraces intermediate units are fully furnished with a brand new interior design concept, which would appeal to the younger generation, especially newly married couples and young families.

The boudoir concept of Ametis Terraces’ new intermediate show unit gives a sense of intimacy, signifying the homeowner’s love of comfort, warmth and tactility.

Catering to a niche and increasingly sophisticated market, Ametis Terraces symbolises Bukit Puchong’s position as a self-sufficient medium to high-end township of choice in the Klang Valley.

Ametis Terraces comprises two designs – Classic and Contemporary. The former has a conventional home layout, whilst the latter, a refreshing reconfiguration of living space with an in-built water feature for feng shui and creative purposes.

“Water features are a key element in attracting positive and beneficial chi, especially with its continuous trickling, splashing and reflection of light and shade. With this in mind, we incorporated the water feature for future buyers to enjoy,” says Lim.

“Another attractive feature of Ametis Terraces is its one-acre landscaped park, situated right at the heart of the development. This doubles up as an extended garden for some premium units.

“To date, 60% of Ametis Terraces have been sold since its launch early this year, prompted by effective word-of-mouth marketing by existing buyers. This shows our products do speak for themselves!” he added.

Slated for completion by early 2009, Ametis Terraces is expected to have a gross development value (GDV) of RM46mil.

Prices for the intermediate units range from RM355,000 to RM389,000, while corner units are going from RM587,000 to RM691,000. Units have lot sizes from 20’ x 75’.

A stroll in the park

By The Star

Grab this chance to own a resort-style condo unit

HOW many property offerings in the Klang Valley are in the price range of RM150,000 to slightly above RM200,000?

Think hard. Not many, right?

An artist's impression of Villa Park

Well, this is the golden opportunity for property buyers, newlyweds and young couples planning to start a family to get a home at a very reasonable price.

It’s called Villa Park.

Nestled in the commune of the Bukit Jalil Technological Park, the condominium development is embellished with resort-style facilities – plush landscape and generous spaces for leisurely activities in the common area, and not to mention, a hard-to-miss Balinese-themed décor to invigorate tired souls.

The straight visual linkage between the bedroom corridor and the kitchen and dining hall exhibits the unit's functionally-designed layout

“The property can be owned by those with a combined income of between RM5,000 and RM6,000. You really can’t find similar developments with such spacious designs in the vicinity with similar facilities and amenities.

"Furthermore, we are absorbing homebuyers’ mortgage loan interest during the construction period, on top of providing free legal fees on sale and purchase agreement, and early bird discounts,” said developer Villamas Sdn Bhd’s managing director Gan Teck Seong. A 7% discount for Bumiputra buyers apply.

There are 392 units in total, segregated by two blocks – 206 in Block A and 186 in Block B. To be launched next month is Block B, followed by the other one on a later date.

“We are expecting completion in November 2010, and we’re giving a complimentary parking bay for unit purchases.

"They may also opt for a second parking lot at only RM18,000. There’s a 50% discount on the extra parking bays purchases for early birds, which comes up to only RM9,000,” added Gan.

Villa Park is situated to the south of the Bukit Jalil National Sports Complex (7km away) and Technology Park Malaysia (about 300 meters apart) and to the north and north-west of Taman Bukit Serdang.

Once fully erected, it shouldn’t be too difficult to spot the two-tower condominium development right from the adjacent highway – the Jalan Sungai Besi-Puchong Expressway, when passing Astro’s head office.

Residents of Villa Park may save time further with the new link road currently under construction, which branches out from Jalan Sungai Besi-Puchong Expressway, cutting through the housing area.

Expect total comfort and spaciousness with Villa Park's space-generous floor plan

Otherwise, you can also reach Villa Park via the Kuala Lumpur-Seremban Highway, followed by the service roads of Taman Serdang Raya and laterite paths of Taman Bukit Serdang – a new housing project in the immediate catchment area comprising medium-cost apartments and two-storey terraces.

Nearby shopping malls like the South City Plaza, The Mines Shopping Fair and Endah Parade will keep you occupied during the weekends. A turf club fan? The Selangor Turf Club is just 3 kilometres away.

Couples and families with school-going children will be served well with the many primary, secondary and international schools and universities in this area.

Namely, they are SJK (C) Serdang Baru (1), SJK Bandar Baru Seri Petaling; SMK Seri Kembangan, SMK Bandar Baru Seri Petaling; the Australian International School and the Alice Smith International School.

Universiti Putra Malaysia, International Medical University and the Universiti Tenaga Nasional are also within the area.

How does it look like inside?

The development boasts three design layouts – Type X, Type Y and Type Z. To start with, Type X units are priced from RM172,800 to RM185,300 with a minimum built-up of 1,106 sq ft. There’s a special “lanai” porch just outside the living hall for this unit design and the owner is free to convert it into either an outdoor meet-the-sun balcony or enclose it with an external glass partition to form part of your living room.

“It’s interesting as each unit here has its own storage heater – you don’t need to install a bulky water heater on the wall of your lavatory. Just turn on the tap, and voila, hot water pours out,” said Gan.

Location of Villa Park

Type Y units, on the other hand, are priced between RM197,300 and RM209,800 with built-up from 1,300 sq ft onwards.

The lowest entry units are from Type Z, which have built-ups from 956 sq ft.

Prices are from RM152,800 to RM165,800.

The open floor plan concept provides visual linkage from the living room through to the dining hall and subsequently, the kitchen.

Hence, you almost get an entire glance of your abode with one look.

Centralised facilities?

Notable sports facilities in Villa Park include full-sized futsal and basketball courts, a gym room, family-oriented cafeteria, children’s playground, gazebo, wading pool and a 30-meter lap pool. Besides that, there’s also a multipurpose hall, barbecue area, a kindergarten, convenience store, an indoor shower and changing room, an ICT room, as well as a surau.

Security worries? Fret not with the single entry-exit point, 24-hour guarded security, and CCTV in crucial spots.

Miss not the opportunity to view the beautiful onsite show unit – it merits a look.

BLand sees growth in property sector

By The Star

PETALING JAYA: Berjaya Land Bhd (BLand) sees potential growth in its property development earnings, both overseas and locally, says Kenanga Investment Bank Bhd.

It was anticipating RM30.2bil worth of mixed development projects in Vietnam to contribute to its growth, in addition to the revaluation of its landbank in Taman Tar and Selangor Turf Club (STC) in Malaysia, it said, noting that the projects in Vietnam would spread from 2009 to 2019.

An analyst from Kenanga believed that BLand had a high probability of securing these projects, noting that less cost and time would be needed on resettlement issues, seeing that most of BLand’s Vietnam lands were unoccupied.

On the local front, BLand was expected to launch projects with a gross development value (GDV) of RM1.2bil on top of its on-going property development projects in the financial year ending April 30, 2008 (FY08) and FY09, the analyst said.

Its on-going projects, with GDV of RM802mil, are located in Bukit Jalil, Berjaya Park in Shah Alam, Taman Tar and Kuantan Perdana in Pahang.

According to Kenanga, BLand has planned a RM4.2bil mixed development project on the 248-acre STC, noting that its 10-year development plan had included a range of low to high-end residential development with commercial elements like a shopping mall, offices, service apartments and hotels.

STC’s possible conversion title to freehold from its current leasehold was expected to increase the land value by 30% to 50%, and a potential to increase its GDV to RM6.2bil from its original GDV of RM5.4bil, it said.

On top of that, BLand has also withheld launches of its Taman Tar bungalow plots to capitalise on higher pricing upon completion of Taman Tar’s main infrastructure works, as well as the pending approval for land title conversion, which is expected to increase prices by 30% to 50%.

The analyst believed that the remaining GDV of approximately RM324mil would increase by more than 15% once BLand resumed selling the land plots at Taman Tar towards the end of the year, adding that BLand had so far traded its bungalow plots in the Peak at Taman Tar at 81% to 127% higher than other residential sites in the area.

The research house rated the company as “trading buy” with a target price of RM7.61.

The counter closed two sen lower at RM4.30 yesterday on volume of 903,200 shares.