Consortium of SGX-listed companies to franchise Hilton hotel in UK

SINGAPORE (April 7): A consortium of locally listed companies have entered into a franchise agreement with hotel chain operator Hilton to build a 192-bedroom hotel in Leeds, UK, to be operated under the Hampton by Hilton brand.

Operations are expected to start in late 2019.

The consortium comprises four companies, namely: property developer Heeton Holdings; construction group Lian Beng; construction, property development and property investment group KSH Holdings; as well as ground engineering specialist Ryobi Kiso.

In a jointly-issued release on Friday, the companies explain that the new hotel is part of the first phase of a “new landmark regeneration project being developed by the consortium that is currently under construction”.

Says Choo Chee Onn, executive chairman and managing director of KSH: “With Hilton’s management expertise and extensive network, coupled with the development’s strong locational attributes in Leeds’ city centre, we believe the hotel will resonate well with both leisure and business travellers upon its launch.”

“We are pleased with the progress of our joint hotel development in Leeds, and are delighted to have crossed another highlight in the development process. Having Hilton, a world-renowned brand in hospitality on board, will definitely lift the stature of our new hotel,” adds Lian Beng’s executive chairman and managing director, Ong Pang Aik.

Shares of Heeton, Lian Beng, KSH Holdings and Ryobi Kiso closed at 42 Singapore cents, 61 Singapore cents, 74 Singapore cents and 19 Singapore cents respectively. —

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Ekovest buys lands for RM26.77 mil to develop EkoQuay project

KUALA LUMUR (April 7): Ekovest Bhd through its subsidiary Ekovest Properties Sdn Bhd has purchased two parcels of freehold land from substantial shareholder Lim Seong Hai Holdings Sdn Bhd (LSHHSB) for RM26.77 million.

The first parcel of land measures 2,403 square meters and is located at Lot 256, Seksyen 85, Bandar Kuala Lumpur.

The second parcel of land, measuring 2,290 square meters, is located at Lot 326, Seksyen 85, Mukim Kuala Lumpur, Tempat Setapak, Daerah Kuala Lumpur.

Ekovest Properties said it intends to combine the lands together with its existing land bank to undertake its mixed commercial development project called EkoQuay, which shall commence works in 2018.

The development will be built on a combined 2.75 acres of land, it said in a statement to Bursa Malaysia today.

It said the acquisition is expected to be financed via internally generated funds and borrowings in the proportion of 30% to 70%.

Barring any unforeseen circumstances, the acquisition is expected to be completed in the third quarter of 2017, it said.

Ekovest shares closed down two sen or 1.45% lower at RM1.36, bringing it a market capitalisation of RM2.91 billion. —

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Bowie’s former apartment on sale in New York

David Bowie

NEW YORK (April 7): Rock legend David Bowie’s former apartment in New York, complete with views of Central Park and his piano, is up for sale for US$6.5 million (RM28.83 million).

Bowie and his model wife Iman lived in the apartment from 1992 to 2002 when they moved to the more bohemian Soho neighbourhood, where the rocker died last year after a secret battle with cancer.

Real estate agency Corcoran listed the ninth-floor condominium at 160 Central Park South, which includes three bedrooms and a Yamaha piano played by Bowie.

The area on the bottom edges of Central Park is one of the most exclusive in New York and is a short walk from institutions including Carnegie Hall and the Museum of Modern Art.

Bowie — whose storied career included taking the persona of a rock alien and challenging definitions of sexuality — had a comparatively conventional life in New York with Iman and their daughter, born in 2000.

In his final years in Soho Bowie frequented a nearby bookstore and walked to a studio to record his final album Blackstar, which came out two days before his death at age 69.


Amanahraya REIT redesignates COO Noorbaizura as CEO

KUALA LUMPUR (April 7): Amanahraya Real Estate Investment Trust (Amanahraya REIT) has redesignated its chief operating officer (COO), Noorbaizura Hermeyney as chief executive officer, effective yesterday.

Noorbaizura, 37, was COO with the trust for two years. She was previously Head of Investment of Amanahraya REIT for three years.

She was previously with Naza Group, KLCC Property Holdings as well as Ernst & Young Malaysia.

She holds an accountancy degree from Universiti Teknologi MARA and is an Association of Chartered Certified Accountants (ACCA) graduate. —

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Majuperak sells part of Kinta landbank for RM17.72 mil

KUALA LUMPUR (April 7): Majuperak Holdings Bhd is disposing of two plots of leasehold land measuring 664.78 acres in Kinta, Perak for RM17.72 million cash, the company announced yesterday.

The plots are being sold by Majuperak’s wholly-owned subsidiary, Syarikat Majuperak Bhd, via open tender to Wawasan Amanjaya Sdn Bhd, which will use it for an integrated farming project, Majuperak said.

The net book value of the asset is listed as RM81,817 as at Dec 31, 2016.

“The proposed disposal would give an opportunity to a bumiputra company to venture into integrated agricultural industry,” the company said.

The agricultural lands — part of 1,053 acres owned by currently owned by the Majuperak in Mukim Tanjong Tualang, Kinta, Perak — were acquired by the group for RM175,368 back in 1997, it said in a filing.

Majuperak said it will use proceeds from the sale for group working capital, it added, and to finance its various property development projects in Perak.

It expects to complete the disposal in six months.

Shares of Majuperak gained half a sen yesterday to close at 36.5 sen, giving it a market capitalisation of RM71.44 million. —

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包办多家发展商的示范单位室内设计工作的Linear Design董事经理Cheong W Loong告诉,房子面积趋小,就越考验屋主的空间使用与收纳技巧。


小房子大空间,可能吗?Cheong W Loong有法宝,不必太大花费,也可制造假象,让房子看起来更大、更宽敞。
































































Cuepacs proposes consultative council to monitor house prices

MUAR (April 7): Cuepacs, the umbrella group of civil service unions, has proposed that the government set up a consultative council to monitor the hike in house prices, said its president Datuk Azih Muda.

He said the effort must be immediately implemented as the government needs to monitor prices and not just adheres to prices set by housing developers.

Based on complaints received by Cuepacs, he said, 40% of housing loans which civil servants applied for through banks or the Public Sector Housing Financing Board were rejected due to salaries that did not meet the criteria.

“Currently, with skyrocketing house prices, it is as if there is no control on the matter. Thus, if this persists, civil servants or the public with income below RM8,000 will not be able to buy a semi-detached house or even own their unit,” he said.

He told reporters this at the launching ceremony of the Amalgamated National Union of Local Authorities Employees’ triennial general meeting for the Muar Municipal Council and Muar Kospeta Malaysia Bhd here yesterday.

Azih said Cuepacs also hoped that the government would review in detail the reasons for changing the status of bumiputera units and not easily give approval on the excuse that the housing units could not be sold.

He urged the government to set up a new mechanism by studying ways to ensure that bumiputera ownership houses could be sold, especially to civil servants.

This article first appeared in The Edge Financial Daily, on April 7, 2017.

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