MMC to develop its 4,500 acres in Iskandar into industrial properties

Hasni: ‘We sense that there are a lot of potential buyers out there’

KUALA LUMPUR: MMC Corp Bhd plans to further unlock the value of the company’s massive landbank, in excess of 4,500 acres located in Iskandar Malaysia, by strategically developing the land for industrial customers.

Group managing director Datuk Hasni Harun revealed that the company, via subsidiaries, has two large pieces of land in Johor located in the Tanjung Bin Petrochemical and Maritime Centre and Senai areas.

“The Tanjung Bin project is managed by Seaport Worldwide Sdn Bhd, a wholIy-owned company of Johor Port, which in turn a wholly-owned subsidiary of MMC. The project is expected to complement the Refinery And Petrochemicals Integrated Development (Rapid) project in Pengerang.

“We have secured an anchor client there, a joint-venture (JV) company between MISC Bhd and Vitol Plc and we are now in the midst of discussion with other clients that are interested and we sense that there are a lot of potential buyers out there,” he said at a press briefing after the company’s AGM.

For the other project in Senai, Hasni said in general there were three planned developments where the company has invested between RM200mil and RM300mil to equip the land with basic necessities such as connecting bridges and roads.

“The first is a mixed development of about 650 acres, next is another 1,000 acres area slated for Senai High-Tech City which has gained a free trade zone status and also another vast area for cargo to complement our Senai Airport operation.

“In general, the value of the land has risen quite substantially from our investment cost thus any disposal of these lands will provide a new cash flow to the company.

“Going forward, we estimate more industrial customers to come into our areas.

“We will build an industrial park with ready-made buildings and we are talking to some potential investors and JV partners to develop the land,” he said.

For its engineering and construction division, Hasni said MMC was interested in participating as a project delivery partner and underground work package contractor for the second and third lines of of the Klang Valley mass rapid transit (KVMRT) project as well as the high-speed rail project connecting Kuala Lumpur and Singapore.

“More updates on the KVMRT are expected in the next few months and we are very excited,” he said.

On the listing postponement of its 51%-owned power generating company, Malakoff Corp Bhd, Hasni said MMC planned to list Malakoff no later than the first half of next year.

Source : Star May 14, 2013 by SHARIDAN M. ALI 

I&P plans 3 new townships in Klang, Iskandar Malaysia

KUALA LUMPUR: I&P Group Sdn Bhd is lining up new projects to add to its current developments that already stand to generate some RM25 billion in gross development value over the next 15-20 years.

I&P Group managing director Datuk Jamaludin Osman said I&P is in the midst of planning two new townships in Iskandar Malaysia, Johor, and one in Klang, Selangor.

I&P owns 133.2ha in Tanjung Kupang, a small village near Nusajaya in Gelang Patah, which is connected to Singapore via the Malaysia-Singapore Second Link. It also owns 360ha in Ulu Tiram, a town in Johor Baru that is accessible via Tebrau Highway and Senai-Desaru Expressway.

I&P Group managing director Datuk Jamaludin Osman said I&P is in the midst of planning two new townships in Iskandar Malaysia, Johor, and one in Klang, Selangor.

I&P owns 133.2ha in Tanjung Kupang, a small village near Nusajaya in Gelang Patah, which is connected to Singapore via the Malaysia-Singapore Second Link. 

It also owns 360ha in Ulu Tiram, a town in Johor Baru that is accessible via Tebrau Highway and Senai-Desaru Expressway.

I&P owns 133.2ha in Tanjung Kupang, a small village near Nusajaya in Gelang Patah, which is connected to Singapore via the Malaysia-Singapore Second Link. 

It also owns 360ha in Ulu Tiram, a town in Johor Baru that is accessible via Tebrau Highway and Senai-Desaru Expressway.

It also owns 360ha in Ulu Tiram, a town in Johor Baru that is accessible via Tebrau Highway and Senai-Desaru Expressway. Plans are being made to develop the plots of land in Tanjung Kupang and Ulu Tiram. 
He said he is bullish on prospects for the proposed projects, adding that they may start in the next one to two years.

"We are mulling over several catalytic projects to form part of the township in Ulu Tiram and boost its potential. Tanjung Kupang, meanwhile, is situated near Singapore, which is one of the main markets we are targeting," Jamaludin said.

In Klang, I&P owns 160ha in Meru and development plans have been submitted to the authorities for approval. The company aims to launch the project by 2015.

"We are not resting on our laurels. We are planning new developments to diversify our earnings. 
"We are also launching new phases within our current townships, depending on marketability. We will be cautious as we do not want margins to be squeezed," he said.

For fiscal year 2009, I&P's group revenue was RM1.07 billion with a pre-tax profit of RM263.41 million for a profit margin of 24.5 per cent.Last year, the company's revenue was about RM1.14 billion with a pre-tax profit of RM378.25 million, resulting in a profit margin of 33 per cent.

Several options are being studied, including a mixed integrated project with high-end product offerings, Jamaludin said.

I&P, a wholly-owned unit of Permodalan Nasional Bhd, has 2,000ha under its belt and 13 ongoing township projects in the Klang Valley and Johor Baru. 

Source Business Times May 7, 2013, Sharen Kaur

Land acquisition Beranang, Ulu Langat : SP Setia

Extracted from Bursa Announcement: -

The Board of Directors of S P Setia (“Board”) wishes to announce that on 12 August 2011, Bukit Indah (Selangor) Sdn Bhd (“Bukit Indah” or “Purchaser”), a wholly-owned subsidiary of S P Setia, entered into a sale and purchase agreement (“SPA”) with Ban Guan Hin Realty Sdn Bhd (“Ban Guan Hin Realty” or “Vendor”) for the proposed purchase of a piece of freehold land held under Geran 45874 for Lot 39 Mukim Beranang, Daerah Ulu Langat, Negeri Selangor measuring 1,010.5 acres for a purchase consideration of RM330,130,350 (“Purchase Consideration”) or RM7.50 per square foot. (“Proposed Acquisition”) 

Land acquisition Beranang, Ulu Langat : SP Setia

The Said Land is held under Geran 45874 for Lot 39 Mukim Beranang, District of Ulu Langat, Negeri Selangor measuring 1,010.5 acres in total. 

The terrain of the Said Land is generally undulating and is zoned for mixed housing development. 

The Said Land is situated midway between the towns of Semenyih, Bangi Old Town and Beranang. It is approximately 5 kilometres south of Semenyih; 7 kilometres east of Bangi Old Town; and 2 kilometres north-west of Beranang. The Said Land is also located approximately 12 kilometres south of Kajang town and 25 kilometres south of Kuala Lumpur City Centre. 
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The travel time to Kuala Lumpur City Centre from the Said Land via Jalan Semenyih, which connects onto the Kajang SILK Highway and further onto the North-South Highway and Kuala Lumpur-Seremban Highway is approximately 40 minutes. 

The Said Land is approximately 15 minutes from the proposed Bandar Kajang MRT Station on the Sungai Buloh-Kajang Line.