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New developments to share
- Thread starter wuqi256
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Bro, u know someone tere?
nostagia, cos my sec sch MV around there. know some friends there but long long time now cannot remember them.
Ya man. Used to frequent Muslim Bidadari cemetery...catch spider. But b4 5pm all dare not to enter. Oso used to frequent the Gurkha canteen. The boss is my friend's father. Btw wats MV?
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The school that is near to Bartley sec and to the gurkha camp.
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Aiyoh, Mount vernon lah..
Albedo buys 6 more parcels of Iskandar land
Dec 16, 2013 - PropertyGuru.com.my
Singapore-listed Albedo Ltd has agreed to acquire six more parcels of land from Infinite Rewards Inc, a company controlled by Malaysian tycoon Tan Sri Danny Tan, bringing its Isakandar landbank to 13 parcels of around 478.57ha.
Notably, the move will increase the size of the reverse takeover (RTO) deal between the two companies by more than double, from S$774 million to S$1.86 billion.
In September, Albedo, which is poised to become a major property developer in Malaysia upon the completion of the RTO, first agreed to acquire seven parcels of land from Infinite Rewards.
Currently, the additional six parcels of land belong to Tan and his family.
In a statement, Albedo revealed that the new total acquisition price was given at a discount of 16.6 percent to the total market valuation of all the land parcels, and includes a prime commercial site known as Lido Waterfront.
Subject to approval by Albedo's shareholders, the proposed acquisition will provide the company an opportunity to venture into new business areas.
It will be paid by Albedo by issuing new shares that represents 95 percent of the company's enlarged issued capital.
The RTO's completion is conditional upon an independent valuation report on all the properties, with the valuation amount of not less than RM6.5 billion (S$2.5 billion), including the value of Lido Waterfront's properties.
Meanwhile, Albedo will effect a consolidation of its shares based on every seven existing shares into one share prior to the completion of the RTO.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
Dec 16, 2013 - PropertyGuru.com.my
Singapore-listed Albedo Ltd has agreed to acquire six more parcels of land from Infinite Rewards Inc, a company controlled by Malaysian tycoon Tan Sri Danny Tan, bringing its Isakandar landbank to 13 parcels of around 478.57ha.
Notably, the move will increase the size of the reverse takeover (RTO) deal between the two companies by more than double, from S$774 million to S$1.86 billion.
In September, Albedo, which is poised to become a major property developer in Malaysia upon the completion of the RTO, first agreed to acquire seven parcels of land from Infinite Rewards.
Currently, the additional six parcels of land belong to Tan and his family.
In a statement, Albedo revealed that the new total acquisition price was given at a discount of 16.6 percent to the total market valuation of all the land parcels, and includes a prime commercial site known as Lido Waterfront.
Subject to approval by Albedo's shareholders, the proposed acquisition will provide the company an opportunity to venture into new business areas.
It will be paid by Albedo by issuing new shares that represents 95 percent of the company's enlarged issued capital.
The RTO's completion is conditional upon an independent valuation report on all the properties, with the valuation amount of not less than RM6.5 billion (S$2.5 billion), including the value of Lido Waterfront's properties.
Meanwhile, Albedo will effect a consolidation of its shares based on every seven existing shares into one share prior to the completion of the RTO.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email [email protected]
Colmar Tropicale in JB?
Is Berjaya coming in BIG in Iskandar?
--------------------------------------
Highlight: BAssets to replicate resort in JB?
KUALA LUMPUR: There are bigger things in store for Berjaya Assets Bhd (BAssets) in Johor following its partnership with Sultan Ibrahim Ismail Sultan Iskandar of Johor, who will be taking up a 20% stake in Berjaya Times Square Sdn Bhd (BTSSB).
Sources said that as part of a bigger plan for BAssets, the group plans to build a mini Bukit Tinggi in Berjaya Waterfront in Johor Baru.
“The plans are there to replicate a Bukit Tinggi in JB. It requires approval, though, from the state and federal governments,” said a source.
The Berjaya group has a hill resort in Bukit Tinggi, Pahang, which is being positioned as an alternative to Genting Highlands where a casino and theme park attract thousands of visitors.
Apart from Berjaya Times Square, located in Kuala Lumpur, BAssets owns and manages Berjaya Waterfront in Johor Baru (formerly known as The Zon, Johor) with properties spreading over 18 acres (7.28ha) of prime land in Johor.
On Tuesday, BAssets announced that the Sultan had proposed to acquire a 20% stake in BTSSB for RM250 million. It was a deal done on a willing buyer willing seller basis.
BAssets will realise an exceptional gain of about RM7.02 million at company level but register an exceptional loss of RM149.15 million
at group level because the price transacted is less than the value of the building booked in the books at the group level.
According to its latest annual report, BTSSB acquired The Zon on March 15, 2013. The group said a rebranding exercise was underway to launch the property’s new name, Berjaya Waterfront.
The group said it plans to establish its latest acquisition, Berjaya Waterfront, as an iconic international lifestyle, retail, entertainment
and travel hub of the south.
“To provide a more wholesome shopping experience, it is undergoing a rebranding exercise and a facelift which will be accompanied by an upgrade of facilities and services in phases,” it said.
Berjaya Waterfront houses facilities such as a 12-level hotel, a 5-level shopping complex as well as dining and recreation options in
addition to the only duty-free zone with a unique ‘Airport in the City’ concept offering wide selections of imported products at competitive prices.
“Fuelled by the burgeoning market, Berjaya Waterfront is being groomed to cater to affluent shoppers from Singapore and Indonesia via the causeway and its international ferry terminal,” it added.
BAssets only acquired the assets in Johor Baru in April last year from two companies including Atlan Bhd.
On April 10, 2012, it announced the acquisition of a 4.89-acre parcel of vacant land in Johor Baru from Atlan for RM31.01 million cash.
It also acquired the remaining lease interest of six parcels of land measuring about 14.12 acres from Darul Metro Sdn Bhd for a cash
consideration of RM325 million. The land is where the integrated commercial development of Berjaya Waterfront stands.
According to the annual report, BAssets had also proposed to acquire a parcel of vacant land measuring about 4.28 acres for RM27.99 million from Kelana Megah Sdn Bhd in Johor Baru.
BAssets core asset and business are the management of the Berjaya Times Square mall where its operations cover the car parks and the theme park.
For the financial year ended June 30, 2013, BTSSB recorded revenue of RM124.11 million, an increase of 24.37% compared with the previous year’s. The increase in revenue was mainly contributed by higher revenue reported by Berjaya Waterfront.
Additionally, BTSSB recorded higher rental revenue from the Berjaya Times Square mall and car parks, while theme park ticket revenue also increased in the financial year under review.
However, its net profit stood lower at RM45.65 million compared with RM147.43 million in its previous financial year due to lower
favourable fair value changes of investment properties and lower sales of properties recorded.
-The Edge Malaysia 12 Dec 2013-
Is Berjaya coming in BIG in Iskandar?
--------------------------------------
Highlight: BAssets to replicate resort in JB?
KUALA LUMPUR: There are bigger things in store for Berjaya Assets Bhd (BAssets) in Johor following its partnership with Sultan Ibrahim Ismail Sultan Iskandar of Johor, who will be taking up a 20% stake in Berjaya Times Square Sdn Bhd (BTSSB).
Sources said that as part of a bigger plan for BAssets, the group plans to build a mini Bukit Tinggi in Berjaya Waterfront in Johor Baru.
“The plans are there to replicate a Bukit Tinggi in JB. It requires approval, though, from the state and federal governments,” said a source.
The Berjaya group has a hill resort in Bukit Tinggi, Pahang, which is being positioned as an alternative to Genting Highlands where a casino and theme park attract thousands of visitors.
Apart from Berjaya Times Square, located in Kuala Lumpur, BAssets owns and manages Berjaya Waterfront in Johor Baru (formerly known as The Zon, Johor) with properties spreading over 18 acres (7.28ha) of prime land in Johor.
On Tuesday, BAssets announced that the Sultan had proposed to acquire a 20% stake in BTSSB for RM250 million. It was a deal done on a willing buyer willing seller basis.
BAssets will realise an exceptional gain of about RM7.02 million at company level but register an exceptional loss of RM149.15 million
at group level because the price transacted is less than the value of the building booked in the books at the group level.
According to its latest annual report, BTSSB acquired The Zon on March 15, 2013. The group said a rebranding exercise was underway to launch the property’s new name, Berjaya Waterfront.
The group said it plans to establish its latest acquisition, Berjaya Waterfront, as an iconic international lifestyle, retail, entertainment
and travel hub of the south.
“To provide a more wholesome shopping experience, it is undergoing a rebranding exercise and a facelift which will be accompanied by an upgrade of facilities and services in phases,” it said.
Berjaya Waterfront houses facilities such as a 12-level hotel, a 5-level shopping complex as well as dining and recreation options in
addition to the only duty-free zone with a unique ‘Airport in the City’ concept offering wide selections of imported products at competitive prices.
“Fuelled by the burgeoning market, Berjaya Waterfront is being groomed to cater to affluent shoppers from Singapore and Indonesia via the causeway and its international ferry terminal,” it added.
BAssets only acquired the assets in Johor Baru in April last year from two companies including Atlan Bhd.
On April 10, 2012, it announced the acquisition of a 4.89-acre parcel of vacant land in Johor Baru from Atlan for RM31.01 million cash.
It also acquired the remaining lease interest of six parcels of land measuring about 14.12 acres from Darul Metro Sdn Bhd for a cash
consideration of RM325 million. The land is where the integrated commercial development of Berjaya Waterfront stands.
According to the annual report, BAssets had also proposed to acquire a parcel of vacant land measuring about 4.28 acres for RM27.99 million from Kelana Megah Sdn Bhd in Johor Baru.
BAssets core asset and business are the management of the Berjaya Times Square mall where its operations cover the car parks and the theme park.
For the financial year ended June 30, 2013, BTSSB recorded revenue of RM124.11 million, an increase of 24.37% compared with the previous year’s. The increase in revenue was mainly contributed by higher revenue reported by Berjaya Waterfront.
Additionally, BTSSB recorded higher rental revenue from the Berjaya Times Square mall and car parks, while theme park ticket revenue also increased in the financial year under review.
However, its net profit stood lower at RM45.65 million compared with RM147.43 million in its previous financial year due to lower
favourable fair value changes of investment properties and lower sales of properties recorded.
-The Edge Malaysia 12 Dec 2013-
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Yes, i totally concur that need huge MNC invest in those manufacturing plants etc to bring up the mass to stay in Iskandar. Dont get me wrong to be a wet blanket, I has bought properties in Iskandar. Till now all the news are who who is launching new shopping malls / residence. Rarely I hear like big MNCs setting up plants etc.
This will keep inflating the bubble, which will not be health in the long term.
I saw a Yong Tao Hu store in Siglap setting up a shop in Sutera Utama area.
Yong Tao Hu store can be considered a MNC? since it is a million dollar business.
Yong Tao Hu store can be considered a MNC? since it is a million dollar business.
Is there anywhere to see the Iskandar master plan? Or is there even one?
Seems like the way they are just selling land for residential development mainly sounds like there's not much idea to create a thriving economic zone.
Seems like the way they are just selling land for residential development mainly sounds like there's not much idea to create a thriving economic zone.
they have no plan. this is malaysia cowboy way of making money. property hot, so everyone sell property. even sultan of johor selling his land to chinamen.
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MALAYSIA-PRESS-Berjaya Assets plans entertainment resort in southern Malaysia - The Edge
Fri Dec 13, 2013 10:49pm EST
Berjaya Assets Bhd has big plans to transform its land in Johor Baru into a huge entertainment resort with a chain of high-end restaurants and clubs possibly spiced up with slot machines, a source said.
The project, which could be built on at least 18 acres or more near the Malaysia-Singapore causeway, is expected to steal some business from the two casinos in Singapore where costs are much higher.
With a large middle to high-income population expected to settled down in Iskandar Malaysia in the coming years, the project's proximity to the area may well attract a steady flow of foreigners and locals.
The project needs the approval of state and some federal government agencies, including the Ministry of Finance.
"The plan is not expected to face much resistance from the state authorities. The issue could be the federal government," an unidentified source said.
"Berjaya Assets may be looking to transform its Johor waterfront property into a huge entertainment resort," the source said.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
Source:
http://www.reuters.com/article/2013/12/14/malaysia-press-idUSL3N0JT03420131214
Fri Dec 13, 2013 10:49pm EST
Berjaya Assets Bhd has big plans to transform its land in Johor Baru into a huge entertainment resort with a chain of high-end restaurants and clubs possibly spiced up with slot machines, a source said.
The project, which could be built on at least 18 acres or more near the Malaysia-Singapore causeway, is expected to steal some business from the two casinos in Singapore where costs are much higher.
With a large middle to high-income population expected to settled down in Iskandar Malaysia in the coming years, the project's proximity to the area may well attract a steady flow of foreigners and locals.
The project needs the approval of state and some federal government agencies, including the Ministry of Finance.
"The plan is not expected to face much resistance from the state authorities. The issue could be the federal government," an unidentified source said.
"Berjaya Assets may be looking to transform its Johor waterfront property into a huge entertainment resort," the source said.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
Source:
http://www.reuters.com/article/2013/12/14/malaysia-press-idUSL3N0JT03420131214
high end restaurents and clubs with slots machines...not exactly a casino , so may stand a chance to be approved.
Many ways to skin a cat. Berjaya has always been in gaming and hospitality business ie Sports Toto betting shops. Few years ago, they were given approvals for football betting shops but have to rescind due to political pressure. They have a couple of hotels worldwide too. A private club with membership can be allowed for slot machines or casino. Moreso, the Sultan is involved, I don't think the Federal Government would object too much. It would be up to them how they want to manage the memberships. So long as it is not accessible to the general public, it can be done.
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In the world of capitalisation, it is every man for himself. There are people who are blessed with land banks but do not know what to do with it and yet there are people who knows what to do but have no land. The best is to get them married.
I think Puteri Harbour has a master plan and it is executed according to it. Medini also has a masterplan but it is overall in nature emphasising on catalyst projects so it is not in total control. As for the rest of Iskandar, it is free for all. Willing buyer, willing seller basis.
If not accessible to public and private club in nature, then the impact on ppty will not be so great as the operation will not be large enough to create many jobs or attract the public ?
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No MNC factories..? go senai n pasir gudang ..n see see :*: maybe SILC next time..
(li siao only.):p
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