Some govt will want capital and funds to stay within country to fund its own economic activities. Not sure where Singapore govt stands on this. If too many Singaporeans invest and live in Malaysia, there is good chance business and living costs will adjust down(unless compensated by higher influx of FTs). There could also be a chance for RM and SGD to move closer to parity, if after LHL, future Singapore leaders are less capable or make mistakes.
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Puteri Harbour Community
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Some govt will want capital and funds to stay within country to fund its own economic activities. Not sure where Singapore govt stands on this. If too many Singaporeans invest and live in Malaysia, there is good chance business and living costs will adjust down(unless compensated by higher influx of FTs). There could also be a chance for RM and SGD to move closer to parity, if after LHL, future Singapore leaders are less capable or make mistakes.
What I am trying to say is to drive around and see for yourself the physical works.
As for those announcements, MOUs, planned projects, etc, take extra care especially the time to realisation.
As for those announcements, MOUs, planned projects, etc, take extra care especially the time to realisation.
Four billionaire friends including wee cho yaw son coming together to develop service apartment in puteri harbour. Wonder why I m still scared about investing in iskandar?
Corporate figures team up for property project in Iskandar
Posted on January 14, 2013 - Featured, Property News.
By THEAN LEE CHENG
[email protected]
From left: Tan Sri Wan Azmi Wan Hamzah, Tan Sri Lee Oi Hian, Tan Sri Surin Upatkoon and Wee Ee Chan
KUALA LUMPUR: In an unusual move, four prominent local and foreign corporate figures have teamed up to jointly undertake a property development project in Iskandar Malaysia.
Property developer and master developer UEM Land Holdings Bhd (ULHB) sold two plots of land – 29 acre and 14.7 acre – for RM211.1mil and RM189.6mil respectively to Liberty Bridge Sdn Bhd. ULHB is a Khazanah Nasional Bhd-controlled company.
The corporate figures who have equal stakes in Liberty Bridge are Thai national Tan Sri Surin Upatkoon, Malaysian planter Tan Sri Lee Oi Hian, Tan Sri Wan Azmi Wan Hamzah, and chairman and managing director of UOB-Kay Hian Holdings Ltd Wee Ee Chao.
They have teamed up to buy the freehold land located within Puteri Harbour, Iskandar Malaysia around the Commercial South and Private Marina precincts. Iskandar Malaysia is three times the size of Singapore.
They have plans to build serviced apartments in the fastest developing corridor in Malaysia.
A property consultant said the private personal investment in the project was “loose change” for the businessmen.
Wan Azmi, an active corporate player in the 1990s, has kept a low profile since the collapse of his property development company Land & General Bhd, a casualty of the 1997/98 Asian financial crisis.
He was in the limelight in 2011 as one of of three key parties involved in one of the biggest property deals when Sime Darby Bhd paid a 60% premium when it acquired Eastern & Oriental Bhd, a property, hospitality and investment outfit.
Wee, who heads Singapore’s largest securities firm UOB-Kay Hian, is also chief executive officer of Kheng Leong Co (Pte) Ltd, an investment group with interests in property development and real estate investment.
He is the son of Singapore’s billionaire banker Cho Yaw.
Lee is the CEO of Kuala Lumpur Kepong Bhd, one of Malaysia’s largest oil palm plantation companies. He is also former chairman of Malaysian Palm Oil Promotion Council, now known as the Malaysian Palm Oil Council.
Sun Upatkoon, or Lau Kim Khoon, is the managing director of gaming firm Multi-Purpose Holdings Bhd. In 2007, he emerged as an indirect shareholder in Shin Corp, the leading Thai mobile telecommunications company that used to be controlled by the ousted prime minister of Thailand Thaksin Shinawatra.
Sources said property prices in Iskandar have increased considerably, putting them on the same level as Klang Valley properties.
A source said: “The corporate world is very small and the four, being friends for a while… had all been interested in doing property projects in the area.
“So instead of each haphazardly undertaking smaller developments here and there, they have decided to come together to do a project with some scale and to enhance the Puteri Harbour area.”
A property consultant said developers generally wanted a footprint there because of its proximity to Singapore.
“Singapore is squeezing people out with self-imposed regulations,” he said.
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Corporate figures team up for property project in Iskandar
Posted on January 14, 2013 - Featured, Property News.
By THEAN LEE CHENG
[email protected]
From left: Tan Sri Wan Azmi Wan Hamzah, Tan Sri Lee Oi Hian, Tan Sri Surin Upatkoon and Wee Ee Chan
KUALA LUMPUR: In an unusual move, four prominent local and foreign corporate figures have teamed up to jointly undertake a property development project in Iskandar Malaysia.
Property developer and master developer UEM Land Holdings Bhd (ULHB) sold two plots of land – 29 acre and 14.7 acre – for RM211.1mil and RM189.6mil respectively to Liberty Bridge Sdn Bhd. ULHB is a Khazanah Nasional Bhd-controlled company.
The corporate figures who have equal stakes in Liberty Bridge are Thai national Tan Sri Surin Upatkoon, Malaysian planter Tan Sri Lee Oi Hian, Tan Sri Wan Azmi Wan Hamzah, and chairman and managing director of UOB-Kay Hian Holdings Ltd Wee Ee Chao.
They have teamed up to buy the freehold land located within Puteri Harbour, Iskandar Malaysia around the Commercial South and Private Marina precincts. Iskandar Malaysia is three times the size of Singapore.
They have plans to build serviced apartments in the fastest developing corridor in Malaysia.
A property consultant said the private personal investment in the project was “loose change” for the businessmen.
Wan Azmi, an active corporate player in the 1990s, has kept a low profile since the collapse of his property development company Land & General Bhd, a casualty of the 1997/98 Asian financial crisis.
He was in the limelight in 2011 as one of of three key parties involved in one of the biggest property deals when Sime Darby Bhd paid a 60% premium when it acquired Eastern & Oriental Bhd, a property, hospitality and investment outfit.
Wee, who heads Singapore’s largest securities firm UOB-Kay Hian, is also chief executive officer of Kheng Leong Co (Pte) Ltd, an investment group with interests in property development and real estate investment.
He is the son of Singapore’s billionaire banker Cho Yaw.
Lee is the CEO of Kuala Lumpur Kepong Bhd, one of Malaysia’s largest oil palm plantation companies. He is also former chairman of Malaysian Palm Oil Promotion Council, now known as the Malaysian Palm Oil Council.
Sun Upatkoon, or Lau Kim Khoon, is the managing director of gaming firm Multi-Purpose Holdings Bhd. In 2007, he emerged as an indirect shareholder in Shin Corp, the leading Thai mobile telecommunications company that used to be controlled by the ousted prime minister of Thailand Thaksin Shinawatra.
Sources said property prices in Iskandar have increased considerably, putting them on the same level as Klang Valley properties.
A source said: “The corporate world is very small and the four, being friends for a while… had all been interested in doing property projects in the area.
“So instead of each haphazardly undertaking smaller developments here and there, they have decided to come together to do a project with some scale and to enhance the Puteri Harbour area.”
A property consultant said developers generally wanted a footprint there because of its proximity to Singapore.
“Singapore is squeezing people out with self-imposed regulations,” he said.
Related Articles:
The last Statement just reinforces my thinking that more money will be flowing out from Singapore to the region going forward!
This is actually a good thing as Singapore is just too small!
This will force Singaporeans to look outward and maybe it will open their eyes to the opportunities out there.
The last Statement just reinforces my thinking that more money will be flowing out from Singapore to the region going forward!
This is actually a good thing as Singapore is just too small!
This will force Singaporeans to look outward and maybe it will open their eyes to the opportunities out there.
yup, some funds will definitely flow to Iskandar as its so near and happening
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Is Commercal South here? It will be really exciting here.
Yes thats commercial south.. hence the land plots are called CS1, CS2, etc. Encorp is there. I suspect they bought 1 marina facing and 1 inland.
So, PH will be left with major part of Commercial North and Residential North.
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The land sold, to my knowledge, is not Commercial South, but Commercial North. The mirror image of the land circled above, across from the Kota Iskandar:
http://www.theedgemalaysia.com/busi...posal-in-commercial-north-puteri-harbour.html
Commercial South, or the land circled is already committed and contain the following:
- Imperia
- Encorp
- CS2 - Teega
- CS3 - Sold to NCSB or UMLand/UEM land JV
But, still great for PH.
http://www.theedgemalaysia.com/busi...posal-in-commercial-north-puteri-harbour.html
Commercial South, or the land circled is already committed and contain the following:
- Imperia
- Encorp
- CS2 - Teega
- CS3 - Sold to NCSB or UMLand/UEM land JV
But, still great for PH.
If I remember correctly, UEMland bought some land next to the existing PH land 2 months ago saying that it would synergise the existing developments in PH. I think it is further south west of PH.
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They bought back 122 acres of land back from Khazanah in April 2012, to develop canal front homes:
http://biz.thestar.com.my/news/story.asp?file=/2012/4/10/business/11076121&sec=business
I think it is the large patch of land just North of Commercial North and BRDB Land.
Sorry.It may not be clear in my earlier illustration. I meant those blocks behind Encorp and Imperia marked in RED box.
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Thats a great illustration of PH master plan.
The one circled in Red is CS1. As I understand from UEM, they will develop serviced residences priced around Teega.
The one circled in Red is CS1. As I understand from UEM, they will develop serviced residences priced around Teega.
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take a look at this pic from uemland and you'll roughly know where the commercial north or residential north is
https://docs.google.com/viewer?pid=...1b506fd61e5b940648af&a=bi&pagenumber=16&w=800
https://docs.google.com/viewer?pid=...1b506fd61e5b940648af&a=bi&pagenumber=16&w=800
Extracted from the Star article: They have teamed up to buy the freehold land located within Puteri Harbour, Iskandar Malaysia around the Commercial South and Private Marina precincts. What I have circle in RED seems to be one. Correct?
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