FREE COPY ISSUE 10 | JUN 2013
page
29
The Iskandarian
Quick Reads No merger and acquisition for Lafarge
L
afarge Malayan Cement Bhd, the country’s largest cement producer, with a market share of 40%, has no plans for any merger and acquisition (M&A) at the moment, as it wants to concentrate on organic growth, said its President and CEO Bradley Mulroney. “No (plans for M&A). We are quite happy with our market positioning, our market presence and market size,” he said. “Clearly, you can see the impact of price volatility in our results in terms of the profitability of our business. (But) we believe our results will remain satisfactory (moving forward)”. In the first quarter ended March 31, 2013, Lafarge’s net profit dropped 16.2% to RM54.3 million from RM64.8 million a year earlier due to lower domestic cement prices. Mulroney said even though the cement price war is showing signs of stabilising, “it is wrong to say that the price is totally stable.” Mulroney hopes that cement prices will return to normal as continued volatility affects customer service levels as well. While keeping its eye on expanding its capacity, he said, Lafarge remains positive on the domestic market on strong demand due to the ongoing infrastructure projects implemented under the Economic Transformation Programme (ETP). “If there is a new entrant in the market, people (cement players) are going to react in different ways. Our view is that that reaction is not very constructive to the market. When you have volatility, it makes the ordering pattern volatile as well,” he said.
RM700 million projects in Johor Bahru Gromutual deputy managing director Chew Kwee Hiok said the company plans to further tap opportunities in the rapidly growing Iskandar Malaysia region. The Johor-based property developer has earmarked RM700 million worth of development projects for launch in the next few years in Johor Bahru. The group has ongoing development projects in Johor and Malacca with a gross development value (GDV) of RM200 million. The group has so far completed RM600 million worth of residential and commercial properties in the two states since its incorporation in 2003.
@home
www.facebook.com/theiskandarian email : admin@theiskandarian.com download : www.sustainableiskandar.com.my
KDN : PP17797/06/2012(032765) MICA : MICA(P) 155/08/2012
75% Sold out during preview Property: 446 units valued at RM261 million were sold within the first five hours of the unveiling By Maisarah & Zarakay newsdesk@theiskandarian.com
M
ah Sing Berhad’s Meridin @ Medini in Flagship B of Iskandar Malaysia was successfully unveiled in an exclusive preview which attracted some 1500 visitors from more than 4000 registrants. Buying sentiments were elevated with 75 per cent of the units being snapped up during the preview. 446 units valued at RM261 million were sold within the first five hours of the unveiling. 65 percent of the units were bought by Malaysians with the balance taken up by foreign investors from Singapore, Japan, Korea, Taiwan and Indonesia. Phase one of The Meridin@ Medini comprised of three towers of Meridin suites residences and Meridin Walk lifestyle retail. The quick buy is a clear indication of investors’ confidence in the integrated project. Mah Sing’s Executive Director Datuk Lim Kiu Hock said, “We are among the handful of integrated property developers in Malaysia that builds both landed and high-rise residences with commercial centres and even industrial properties, giving you the freedom to handpick a property that suits your lifestyle needs.” Meridin@Medini is a purpose-
built integrated development along Persisiran Pantai JB-Nusajaya which leads to Kota Iskandar comprising of Meridin Suites Residences, Meridin Linx Small Office Versatile Offices (SoVo), Meridin Walk lifestyle retail and Meridin Exchange corporate towers. Complementing the suites are 30 units of lifestyle retail units with built-ups from 850 sq ft onwards, indicatively priced from RM1,000 psf. Abutting a 32 acre undulating green lung, The Meridin@Medini is just 4 minutes away from LEGOLAND and opposite the upcoming financial centre of Medini Business. Access to Mah Sing’s Executive Director Datuk Lim Kiu Hock, Senior the Tuas-Singapore Second Link is a General Manager Dr. Chai Kow Sin and Chief Operating mere 10 minutes away and the Senai Officer James A. Bruyns inspect the Meridin Model International Airport is 25 minutes away. Mah Sing’s Group Managing Director cum Group Chief Executive, Tan Sri Datuk Sri Leong Hoy Kum said, “Meridin@Medini is poised to tap into the many catalytic developments within Iskandar Malaysia. There is something for everyone here with prices a fraction of a mass market condominium in Singapore, buyers will not only enjoy premium lifestyle features of concierge services, a fully equipped facilities deck and multitiered security features but also the provision of a wellness residential enclave that will be equipped with facilities for continued care.”
I&P Hopes to increase revenue
P
roperty developer I & P Group Sdn Bhd hopes to increase revenue by 36% to RM1.5bil from RM1.1bil recorded in 2012. With the planned launch of properties with a combined gross development value (GDV) of RM2.89bil this year, of which RM2.07bil will be slated for the second half in anticipation of robust demand. “We will be offering a variety of properties to the market, both residential and commercial, in different sizes to cater to different market segments,” said I&P Group Managing Director Datuk Jamaludin Osman. I&P Group has a land bank of almost 2023.43 ha concentrated in the Klang Valley and Johor Baru with a potential GDV of RM25bil. This land bank is expected to keep the company busy over a span of 15 to 20 years. It has a portfolio of
13 townships spread across the Klang Valley and Johor Bahru. In Johor, they launched only one project in Taman Rinting with a GDV of RM33.36mil during the first half of the year comprising twostorey shop-offices with built-up areas ranging from 5,157 sq ft to 8,615 sq ft. These will be priced from RM1mil to RM2.1mil. The rest of its launches in Johor are expected to be in the second half. The group is proposing to have urban commercial centres in townships like Bandar Kinrara, Bandar Baru Seri Petaling, Alam Damai, Temasya Glemarie and Alam Sutera in the Klang Valley and Taman Pelangi in Johor Bahru. “Going forward we are looking at different ways of planning for our townships. We need to plan with the future (in mind) because land is becoming scarce,” Jamaludin said.
Boustead to spread their wings
B
oustead Properties Bhd, the property arm of Boustead Holdings Bhd, is looking at expanding its land bank within Klang Valley and Johor, either through acquisition or conversion of oil palm land. “In Johor, the group is contemplating adding to its land bank particularly in Kulai and Telok Sengat, in the district of Kota Tinggi, by converting oil palm land,” said Datuk Ghazali Mohd Ali, Director of Property Division. “While this will not be in the immediate future, several possibilities for the Kulai land are for a mixed-development project that would include housing and a college.” Several property launches will take place in Taman Mutiara Rini this year. “We launch, on average, 600 to 700 units a year. Sales has been good, prices are not breaching RM500.000 which is good. We are about to launch
1,800 units of affordable housing in Johor,” he said. Launches for the year include 748 units of semidetached affordable homes with 1,200 sq ft built-up (30 ft x 50 ft) that will be priced at RM220,000 each. According to him, the land is allocated for terrace houses, but the houses will be amalgamated and sold as semidetached. Another 307 units of low to midcost double-storey terrace houses with built-up of 850 sq ft (15ft x 50 ft) will be sold for RM80,000. The township will also include two popular hypermarket stores. “The good news is Tesco has obtained approvals and so has Mydin to open within the township,” he added. The township also has an Urban Forest & Recreational Centre and an international-standard cricket pitch called the Mutiara Rini Oval.