property developer

 
 

MVV 2.0 will be rejuvenated to promote hi-tech industries

SEREMBAN, Dec 13 — The plan to develop Negri Sembilan through Malaysia Vision Valley 2.0 (MVV 2.0) will receive a breath of fresh air to enable the government to promote hi-tech industries, said Mentri…


Singapore lowers land supply for private housing for first half of 2019

SINGAPORE, Dec 7 — As demand from property developers drops due to cooling measures introduced in July, the Government has lowered its land supply for private housing for the first half of 2019 (1H2019). The Urban Redevelopment Authority (URA) of…


Gamuda proposes developers pay levy for affordable housing development

SHAH ALAM, Dec 6 — Gamuda Bhd, a leading infrastructure and property developer in Malaysia, has proposed to the government to collect a levy from private housing developers which can then be utilised to develop affordable housing projects for the…


Kerjaya Prospek bags RM211.58m mixed development job

PETALING JAYA: Kerjaya Prospek Group Bhd’s subsidiary Kerjaya Prospek (M) Sdn Bhd )(KPMSB) has on Nov 30, 2018 received a letter of award from PPB Hartabina Sdn Bhd, an unrelated third party property developer, for a RM211.58 million job for the construction of main building and external works for a proposed mixed development project in Sungai Buloh.

KPMSB accepted the letter of award on Dec 4, 2018.

The contract shall commence on Dec 8, 2018 and to be completed within 30 months from the commencement date.

The group said the contract is an expansion of the current customer base and further increases the group’s order book and is expected to provide an additional stream of revenue for the group over the next three years.

Kerjaya Prospek’s share price was down one sen earlier at RM1.20, with some 173,500 shares changing hands.


Mah Sing, Lazada team up to sell houses online in SE Asia

KUALA LUMPUR, Nov 28 — Seeking an edge over other property developers in the country, Mah Sing Group Bhd has joined forces with e-commerce platform Lazada Malaysia to offer its products online. In a joint statement, the partners said the…


Mah Sing’s Q3 net profit drops to RM63m

KUALA LUMPUR, Nov 16 — Mah Sing Group Bhd’s net profit for the third quarter ended Sept 30, 2018 declined to RM63.67 million from RM91.62 million recorded in the same period last year. Revenue fell to RM504.25 million from RM704.26 million…


QSR teams up with KIP for drive-thru KFC outlets

KUALA LUMPUR: QSR Brands (M) Holdings Bhd, which has inked two agreements with Kepong Industrial Park (KIP) Group to develop new KFC drive-thru restaurants, plans to open a minimum of 67 new KFC outlets and another 60 Pizza Hut outlets nationwide over the next three years.

Speaking at the memorandum of understandings (MoUs) signing ceremony yesterday, QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil said the group also planned to upgrade close to 20% of its stores for a fresh new look.

The group has over 810 KFC and 460 Pizza Hut outlets across Malaysia, Singapore, Cambodia and Brunei.

Moving forward, Mohamed Azahari said the group intends to continue collaborating with the renowned developer to keep the momentum of its restaurant growth across its retail centres going, adding it is now in talks with seven property developers.

Under the MoUs, the parties will jointly develop two new KFC drive-thru restaurants at KIP Group’s retail outlets, namely KIP Mall Desa Coalfields in Sungai Buloh and KIP Mart Lavendar in Senawang.

KIP Group’s CEO Valerie Ong said the partnership is expected to boost KIP Real Estate Investment Trust’s (KIP Reit) occupancy rate and footfall to 1,500 visitors per day once it opens its doors to the public in December next year.

She said with the extension of the new KFC drive-thru restaurant, the group’s KIP Mart Lavendar is expected to increase its occupancy rate by 4% to about 85%.

“The addition of KFC restaurants to the present tenant mix will increase our array of food and beverage outlets that will inevitably take both QSR Brands as well as KIP Group to the next level. We look forward to more successful collaborations in the near future,” Ong added.

To recap, QSR Brands and KIP Reit formed its first strategic collaboration last month via a tenancy agreement to establish a KFC restaurant at KIP Mart in Kota Tinggi, Johor.

KIP Reit, which has total assets under management of RM614.9 million as at Sep 30, 2018, is expected to surpass the RM1 billion mark by 2019.

KIP Reit’s portfolio consists of five KIP Marts properties located at Masai, Tampoi, Kota Tinggi, Senawang and Malacca as well as a retail mall in Bangi known as KIP Mall.

Asked to update on the group’s RM2 billion initial public offering (IPO) plans slated by this month, Mohamed Azahari said “work is in progress”.

According to a draft prospectus submitted to the Securities Commission Malaysia, QSR Brands is offering a total of 1.465 billion shares for sale in its IPO, which includes a public issue of 70 million new shares.

Proceeds from the IPO will mainly be used for the expansion of KFC and Pizza Hut businesses across the country within 12 months.


QSR inks deals with KIP for KFC drive-thru outlets

KUALA LUMPUR: QSR Brands (M) Holdings Bhd, which has inked two agreements with Kepong Industrial Park (KIP) Group to develop new KFC drive-thru restaurants, plans to open a minimum of 67 new KFC outlets and another 60 Pizza Hut outlets nationwide over the next three years.

Speaking at the memorandum of understandings (MoUs) signing ceremony yesterday, QSR Brands managing director Datuk Seri Mohamed Azahari Mohamed Kamil said the group also planned to upgrade close to 20% of its stores for a fresh new look.

The group has over 810 KFC and 460 Pizza Hut outlets across Malaysia, Singapore, Cambodia and Brunei.

Moving forward, Mohamed Azahari said the group intends to continue collaborating with the renowned developer to keep the momentum of its restaurant growth across its retail centres going, adding it is now in talks with seven property developers.

Under the MoUs, the parties will jointly develop two new KFC drive-thru restaurants at KIP Group’s retail outlets, namely KIP Mall Desa Coalfields in Sungai Buloh and KIP Mart Lavendar in Senawang.

KIP Group’s CEO Valerie Ong said the partnership is expected to boost KIP Real Estate Investment Trust’s (KIP Reit) occupancy rate and footfall to 1,500 visitors per day once it opens its doors to the public in December next year.

She said with the extension of the new KFC drive-thru restaurant, the group’s KIP Mart Lavendar is expected to increase its occupancy rate by 4% to about 85%.

“The addition of KFC restaurants to the present tenant mix will increase our array of food and beverage outlets that will inevitably take both QSR Brands as well as KIP Group to the next level. We look forward to more successful collaborations in the near future,” Ong added.

To recap, QSR Brands and KIP Reit formed its first strategic collaboration last month via a tenancy agreement to establish a KFC restaurant at KIP Mart in Kota Tinggi, Johor.

KIP Reit, which has total assets under management of RM614.9 million as at Sep 30, 2018, is expected to surpass the RM1 billion mark by 2019.

KIP Reit’s portfolio consists of five KIP Marts properties located at Masai, Tampoi, Kota Tinggi, Senawang and Malacca as well as a retail mall in Bangi known as KIP Mall.

Asked to update on the group’s RM2 billion initial public offering (IPO) plans slated by this month, Mohamed Azahari said “work is in progress”.

According to a draft prospectus submitted to the Securities Commission Malaysia, QSR Brands is offering a total of 1.465 billion shares for sale in its IPO, which includes a public issue of 70 million new shares.

Proceeds from the IPO will mainly be used for the expansion of KFC and Pizza Hut businesses across the country within 12 months.


Insurance, takaful and loans key drivers to Maybank’s growth

KUCHING: Malayan Banking Bhd’s (Maybank) insurance, takaful and loans segments are expected to continue to drive the bank’s growth, going forward, analysts say. “We believe that the insurance and takaful segment will continue to be a meaningful contributor to the group. It will either boost during good times or moderate any headwinds to the group’s […]


Caely Holdings to buy Penang land for RM30.9m

PETALING JAYA: Caely Holdings Bhd’s wholly-owned subsidiary Caely Development Sdn Bhd is planning to buy three parcels of freehold land in Bandar Bukit Mertajam, Penang for RM30.93 million cash to develop a residential and commercial project.

The group told the stock exchange that its unit has entered into a conditional sale and purchase agreement with GTM Property Management Sdn Bhd for the proposed land acquisition.

The purchase consideration is expected to be funded via a combination of internally generated funds and bank borrowings.

Caely said the proposed land acquisition is in line with the group’s overall strategy to acquire land banks for potential development in strategic locations with high development value.

The proposed acquisition also augurs well with the group’s strategy to expand and establish its footprint to other states of Malaysia and would position the group as an upcoming property developer in Penang, it added.

“At this juncture, it is too preliminary to ascertain the exact product mix, total costs to complete the intended project, expected completion date or estimated profits to be derived as the development plan of the land is pending finalisation,” the group said.

Nevertheless, it said given the strategic location of the land and barring any unforeseen circumstances, Caely is confident that based on preliminary market study, the contemplated residential and commercial project, when launched would contribute positively to the earnings of the group.

Barring any unforeseen circumstances, the proposed land acquisition is expected to be completed by the first quarter of 2019.