NNN! After several round of FOMC, I already anticipate, market will drastically go down! After FOMC market will go bullish again! Next FOMC will be on 29th April!
Retailers Rush to Expand in Kota Kinabalu posted on Mar 19, 2014 article source from The Edge written by Madiha Fuad
Retailers are rushing to expand their presence in Kota Kinabalu as the retail sector in Sabah’s capital is set to grow 5% to 10% in the next few years.
“Parkson has been in Kota Kinabalu since the 1980s. The market there is good. Currently, we have two stores — one in Karamunsing and another in One Borneo Mall,” Parkson Holdings Bhd general manager Loh Chai Hoon told The Edge Financial Daily.
Parkson is slated to open its third store in the soon-to-be launched Imago Mall, which is owned by Asian Pac Holdings Bhd.
The Imago Mall, to be completed in the fourth quarter of this year, has attracted international and local retailers, some of which are making their debut in Kota Kinabalu.
“This will be our largest store in Kota Kinabalu. The opening of our third store in Sabah demonstrates our commitment to grow our presence there,” said Loh.
The country’s largest department store operator does not rule out the possibility of opening another store in the city.
“We will look at various factors before we plan on expanding and bringing in one more outlet into Kota Kinabalu, but we are open to it if the opportunity arises,” said Loh.
Making its first entry into Kota Kinabalu is Aeon Fantasy (M) Sdn Bhd, which will be opening its store in the Imago Mall.
“This will be our first project in Sabah. Our concept is very new and it will bring a different experience to the local community,” managing director Chong Swee Ying told The Edge Financial Daily.
She said opening an outlet in Sabah is in line with the company’s strategy of expanding in Malaysia.
“We plan to open at least three outlets there,” she said.
Bonia Group and Mcat Box Office Sdn Bhd are also making their first foray into Sabah through their brands Sembonia and MBO Cinemas.
Valiram Group’s Charles and Keith, Victoria’s Secret and DNP Clothing Sdn Bhd’s Dorothy Perkins, Miss Selfridges and Topshop are among the retailers that are bringing local and international brands into Kota Kinabalu.
Other retailers include Swarovski (M) Trading and Padini Group.
On Kota Kinabalu’s development as a port and commercial hub, Asian Pac chairman Tan Sri Megat Najmuddin said Sabah should further develop itself as a commercial hub.
“Dubai and Singapore have opened their waters and attracted the best talents to develop their countries. They managed to reel in many investments worldwide,” he said.
Comparing Kota Kinabalu to Iskandar Malaysia, Najmuddin said the latter is a greenfield venture which will take years to prove itself, while Kota Kinabalu is already a city with its own attractions.
Najmuddin is bullish that the annual retail spending in Kota Kinabalu will exceed RM1.4 billion.
“The Kota Kinabalu International Airport is the second busiest airport in Malaysia with about three million tourists a year,” he said.
Najmuddin said tourists from South Korea, Japan, Taiwan, Brunei and Hong Kong visit the city that provides investment opportunities and growth for the whole state.
Thank you tksw. From the link we can see the almost completed entrance to Imago Mall. Appreciate feedback from Fortunebullz too, I remember buying Ecofirs based on his recommendation in Ecofirs tread not so long ago. Lately Asiapac has dropped and interest has also reduced. Maybe we need to wait for both Dataran Larkin and Imago Mall to be completed . I don't think we have to wait too long as both projects entering completion within few months time. Thank you.
anybody knows how much rental per suare feet for a mall like Imago ? I am thinking of blogging about Asianpac, but this piece of info is outstanding. Tommylim you know the owner ? can ask ?
Icon8888, the rental for Imago is not as high as most people think.
But as this is the first term of leasing, the rates are very attractive to retailers which will help AsiaPac build a good tenant mix to draw a good stream of visitors for long term.
They have already signed on many big names as mentioned before in this forum.
Tommylim! Ecofirs is peanut compare to Asiapac! Rerating definitely once 2 huge projects as mentioned completed! I think market price easily double to 40 cents upon completion and handover to buyers! And the best part is the mall that is golden goose years to come! Maybe around July Asiapac already above 30 cents! End of year around 50 cents! But I am looking at 1.00 in middle of 2015!
Icon! Go to news and blogs section! Already mentioned Imago Mall contribute 70 millions yearly! This is Grade A mall, no strata! After completions of two projects and mall, the sky is the limit! I see another Inari in making! No one give a damn about Inari a year ago!
Icon8888, sorry, I don't have the rental rate, maybe you can call or email Ms Chan Yoon Mun Tel: (03) 2078 1522 Email : query@asianpac.com.my I hope this will help. Yu didn't mention specifically on rental rate. Tskw, I enjoy reading your feedback. Please contribute more. Thank you.
tommy, i browsed through the thread and you mentioned in one of the discussions that Imago will generate RM70 million recurrent income. There are a lot of other info as well. I would like to seek your consent for me to use those info to write a blog article about Asian Pac
proper credit will be given to you and other contributors in the article
Icon8888, appreciate you gesture. However as mentioned by Fortunebullz, the recurring income from Imago Malls can be found in i3investor itself. No need credit to me, I am just amateur in stocks. You can read Up_down postings which I found very informative indeed.
Taken from I3investor:-
Asian Pac Holdings expects Imago Mall, its new retail venture in Sabah, to contribute up to RM70m, or more than 25%, to its yearly revenue from 2016. Syarikat Kapasi, a unit of Asian Pac, is developing KK Times Square Phase 2 in Kota Kinabalu. The project comprises the 800,000-square feet Imago, signature offices and 631 luxury apartment units.
•Asian Pac chairman Tan Sri Megat Najmuddin Megat Khas said Imago, which has 300 retail lots, is expected to rake in between RM60m and RM70m per year in the first few years of operation. (BT)
i might write, i might not write, i need to undertake a full analysis to ensure the case is water tight first. as mentioned earlier, credibility is important, otherwise next time nobody will read
You are most welcome Icon8888. There's no obligation at all but please let us be the first to have the privilege to read your blog if you do. Thank you.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
fortunebullz
2,000 posts
Posted by fortunebullz > 2014-03-24 15:38 | Report Abuse
Come on Asiapac! Break 30 cents! You are way too undervalue at below 20 cents!