Ho Hup was in a dispute with Malton Bhd over a development agreement signed earlier by the Lye-led management. The issue was settled in July 2012 when Ho Hup reached a truce with Malton and entered into a new agreement to jointly develop 60 acres of prime land in Bukit Jalil.
Under the new agreement, Ho Hup retains the sole development rights to a 10 acre tract out of 60 acres, with the remaining 50 acres to be jointly developed by Ho Hup and Malton. The former will provide land while the latter will provide capital.
The new agreement also saw Ho Hup, the owner of the 60 acres increasing its entitlement for the GDV of the project to 18%.
Meanwhile Datuk Desmond Lim is planning to build his next big mall in Bukit Jalil.
Property market observers have labeled the new project Pavilion II and say it could be bigger than Mid Valley Megamall.
Pavilion II will be an integral part of a JV development between Lim’s Malton and Ho Hup Construction Co Bhd on 60 acres in Bukit Jalil with a GDV of rm4 billion.
Under the JV agreement, Ho Hup is to develop 4.05ha while Malton gets to develop the remaining 20.33ha with the condition that it shares 18% of the GDV with Ho Hup, which owns the land. This means Ho Hup will own 18% of the mall when it is completed.
After the mall is completed and when its renal income stabilizes, Lim will probably want to inject it into Pavilion REIT.
Lim and his wife Datin Tan control a 37.52% stake in Pavilion REIT.
@traderman, we are just do our research and share our opinion about this counter... we just sharing each other.... we did not force ppl to buy this counter... we just share our views based on our research... risk will always be at your own...
Ho Hup was in a dispute with Malton Bhd over a development agreement signed earlier by the Lye-led management. The issue was settled in July 2012 when Ho Hup reached a truce with Malton and entered into a new agreement to jointly develop 60 acres of prime land in Bukit Jalil.
Under the new agreement, Ho Hup retains the sole development rights to a 10 acre tract out of 60 acres, with the remaining 50 acres to be jointly developed by Ho Hup and Malton. The former will provide land while the latter will provide capital.
The new agreement also saw Ho Hup, the owner of the 60 acres increasing its entitlement for the GDV of the project to 18%.
Meanwhile Datuk Desmond Lim is planning to build his next big mall in Bukit Jalil.
Property market observers have labeled the new project Pavilion II and say it could be bigger than Mid Valley Megamall.
Pavilion II will be an integral part of a JV development between Lim’s Malton and Ho Hup Construction Co Bhd on 60 acres in Bukit Jalil with a GDV of rm4 billion.
Under the JV agreement, Ho Hup is to develop 4.05ha while Malton gets to develop the remaining 20.33ha with the condition that it shares 18% of the GDV with Ho Hup, which owns the land. This means Ho Hup will own 18% of the mall when it is completed.
After the mall is completed and when its renal income stabilizes, Lim will probably want to inject it into Pavilion REIT.
Lim and his wife Datin Tan control a 37.52% stake in Pavilion REIT.
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....
Lee Meng Fatt
5,194 posts
Posted by Lee Meng Fatt > 2013-06-18 01:01 | Report Abuse
Analyst Research: Malton Bhd (MLTO.KL)
http://www.reuters.com/finance/stocks/analystResearch?symbol=MLTO.KL