Posted by shan75 > 2015-03-04 09:19 | Report Abuse

Agreed, reach_rich!

Posted by shan75 > 2015-03-04 12:39 | Report Abuse

EGM said can secure 1.5 billion worth of project but t share value look like nuts!

Posted by kudamuda > 2015-03-05 09:11 | Report Abuse

unfortunately malton unlikely to be acquisition target... else.. ppl can attack the share price

Posted by Bearassassin > 2015-03-10 12:57 | Report Abuse

dead counter also

Posted by beso > 2015-03-10 12:59 | Report Abuse

property counter no more show liao

Posted by davidkkw79 > 2015-03-11 10:09 | Report Abuse

sell

Posted by jafon1989 > 2015-03-13 09:04 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1901661

Posted by mmtalents > 2015-03-13 10:32 | Report Abuse

trading halted for today

Posted by shan75 > 2015-03-13 11:29 | Report Abuse

Indeed this is a good announcement!

Posted by fong7 > 2015-03-13 12:00 | Report Abuse

why good?

Posted by kkng0819kk > 2015-03-13 12:57 | Report Abuse

Buy below .80 sen

Posted by shan75 > 2015-03-17 10:16 | Report Abuse

The land bank still under their portfolio, termination of contract due to the integrity hold by Malton!

Posted by davidkkw79 > 2015-03-18 11:35 | Report Abuse

run !

Posted by reach_rich > 2015-03-19 09:18 | Report Abuse

run! run! run!

Posted by Ng MC Angie > 2015-03-19 10:40 | Report Abuse

So is gd or bad?.....

Posted by shan75 > 2015-03-19 12:11 | Report Abuse

Buy 0.88 within reach !

Posted by davidkkw79 > 2015-03-19 12:37 | Report Abuse

Wait it down to 0.50 first

Posted by Bearassassin > 2015-03-19 16:49 | Report Abuse

same as GOB

Posted by Bearassassin > 2015-03-20 16:05 | Report Abuse

NO MORE SHOW.....

Posted by fong7 > 2015-03-24 16:15 | Report Abuse

i hope malton won't become another hunza at the end saying no market interest on its stock therefore privatize at VERY LOW PRICE that benefit ONLY the major shareholders. Too bad. market is unable to nail undervalued stocks. What to do.

Posted by davidkkw79 > 2015-03-24 16:58 | Report Abuse

better sell

Posted by fong7 > 2015-03-25 06:26 | Report Abuse

errr...i'm buying more though. :)

Posted by davidkkw79 > 2015-03-26 11:29 | Report Abuse

Run

Posted by kkng0819kk > 2015-03-26 14:54 | Report Abuse

I mau beli <0.80,ingat boleh untung sikit

Posted by fong7 > 2015-03-26 17:49 | Report Abuse

below 80 sen i also want buy a little more. keke...

Posted by kkng0819kk > 2015-03-26 21:07 | Report Abuse

Sama sama untung kalau beli <0.80

Posted by davidkkw79 > 2015-03-27 08:22 | Report Abuse

Soon will be 0.7....don't worry for that, u guys can get that

Posted by bracoli > 2015-03-27 08:31 | Report Abuse

davidkowkow y 0.7?

Posted by shan75 > 2015-03-27 11:29 | Report Abuse

moving towards 0.88, sales of land bank going to materialise soon!

Posted by bowman > 2015-03-27 16:12 | Report Abuse

what land bank, shan?

Posted by shan75 > 2015-03-30 10:13 | Report Abuse

Parcels of land held in trust for future development ! bowman

Posted by hng33 > 2015-04-02 08:40 | Report Abuse

New benchmark; developer selling 9 blocks of office space

An aerial view of Pusat Bandar Damansara. The nine office blocks will be built in an area that currently houses office buildings that used to have Government agencies such as the Immigration Department as tenants.

An aerial view of Pusat Bandar Damansara. The nine office blocks will be built in an area that currently houses office buildings that used to have Government agencies such as the Immigration Department as tenants.

PETALING JAYA: There is no shortage of takers for one million sq ft of office space coming onstream in Pusat Bandar Damansara at prices that are setting a new benchmark in the area despite the soft demand for this category of property.

Sources said the office space, spread over nine blocks and developed privately by Tan Sri Desmond Lim, has secured buyers who are in the midst of conducting their due diligence and getting the financials in place.

The offices are expected to be completed between three and four years from now and sold at an average price of RM1,500 per sq ft, which is higher than the office space in other parts of the city, including the city centre.

“Other areas fetch between RM800 and RM1,350 per sq ft. So, in some ways, the Pusat Bandar Damansara project is setting a new benchmark,” said a property consultant.

A source said the master plan had been approved but was in the midst of undergoing minor adjustments.Private previews started in the last quarter of 2014 and continued to be conducted, nevertheless, sources said.

The buyers – mainly corporates – are buying the office blocks which range from six to more than 20 storeys on a block basis.

The strong interest in this category of the property market is largely attributed to the development being sandwiched between two MRT stations, namely, Semantan and Pusat Bandar Damansara located at the Jalan Damansara-Jalan Johar-Jalan Bangsar intersection, and the strategy undertaken by the developer.

Lim is developing the site via his private vehicle, Impian Ekspresi Sdn Bhd, which is also the land owner.

Since three years ago, real estate consultants have been waving the red flag over the oversupply situation.

Lim’s strategy, said sources, was to move away from building imposing office blocks that generally comprised high-storey buildings that were normally 30 storeys and above.

“Instead, he opted to build and sell the nine blocks ranging between six storeys and more than 20 storeys. Each floor averages about 10,000 sq ft compared with some buildings in the KL city centre that have 25,000 sq ft per floor,” said a source.

Best known for developing KL Pavilion, Lim is developing the Pusat Bandar Damansara development on a 9.5-acre parcel that he won after a legal battle with Johor Corp.

Lim, subsequently, bought another 6.34 acres, the site of the former HELP Institute car park, from landowner Selangor Properties Bhd last year for RM450mil, or RM1,628 per sq ft.

With these two parcels, Lim increased his land holdings to about 18 acres, or 38% of the 46 acres situated in that area that is considered as prime.

The nine office blocks will be built in an area that currently houses office buildings that used to have Government agencies such as the Immigration Department as tenants. The current buildings are more than 30 years old and will be demolished.

Apart from the nine blocks of office buildings, Lim also has plans to build three blocks of service apartments – another one million sq ft – and an upmarket mall, which will be retained and operated by the Pavilion group. Sources said it was “very likely” the corporations were buying them for “their own use”.

“They may be scattered in various locations in the Klang Valley and have decided to consolidate in a single location. Others may be planning for future organic growth and have decided to take this opportunity, although they may not need that much of space,” a source said.

At at the end of last year, Greater KL’s total office supply totalled about 100 million sq ft, excluding those in Putrajaya and Cyberjaya, said Chris Boyd during a seminar in February in his capacity as executive chairman of property consultancy CB Richard Ellis. He is currently the executive chairman of Savills Malaysia.

About 2.93 million sq ft of office space was completed in Greater KL last year, compared with 5.15 million sq ft in 2013 due mainly to several completions in KL Sentral, Boyd said.

The National Property Information Centre’s First-Half 2014 Property Market Report had put the supply of purpose-built office space in the Klang Valley as at June 2014 at about 138 million sq ft.

Posted by hng33 > 2015-04-02 08:43 | Report Abuse

Malton control by Tan Sri Desmond Lim (36%), is expect to secure at least RM 1.5 billion construction contract to demolish existing old Pusat Bandar Damansara and rebuild new 9 block of state of art office building

Posted by SentulMali > 2015-04-02 15:11 | Report Abuse

Yes interesting and exciting reading but can you trust Malton? Firstly they gave a property worth RM140M to Tan Sri so that he can pay for this PBD land. In return Malton gets a piece of paper which is then shown as investment property in the accounts!!!!How on earth a piece of paper can be reflected as "Investment PROPERTY" is beyond my simple mind. Should it not be shown as INTEREST FREE LOAN to Tan Sri and only capitalise as 'PROPERTY' when/IF the property can be rented out as stated in their acctg policy on Inv Property.

Posted by hng33 > 2015-04-02 15:16 | Report Abuse

Bought Malton at 82.5sen

Posted by bohmiah > 2015-04-02 22:06 | Report Abuse

Unfortunately the 9 blocks of office is his OWNS private vehicle ... Sounds like we makan sendiri ...

Posted by AlexanderJin > 2015-04-02 23:26 | Report Abuse

Of course, he sure makan sendiri first then after the value ballooned ady then only inject into Malton or Pavreit, and makan again with the shareholders like us; so he can makan big big and twice but share abit with us.

Posted by hng33 > 2015-04-03 09:00 | Report Abuse

Although Malton is not a owner for these upcoming 9 blocks of office in these prime area, but malton is use by Desmond Lim as its construction arm to demolish existing old building and rebuild these 9 block of new office, and these contract worth at least RM 1.5 billion for phase 1 alone

Posted by hng33 > 2015-04-03 12:07 | Report Abuse

Malton current share price have very limited downside risk, it is awaiting to get award of contract for these redevelopment prime land, Bukit Damarsara as major catalyst to reboot Malton.

Posted by shan75 > 2015-04-03 15:23 | Report Abuse

Please take into account of Bukit Jalil development also!

Posted by hng33 > 2015-04-04 08:53 | Report Abuse

Strong interest for Lim’s office project

Saturday, 4 April 2015

An aerial view of Pusat Bandar Damansara. Lim is said to have secured buyers for all nine blocks of office space, and they are now doing their due diligence.

An aerial view of Pusat Bandar Damansara. Lim is said to have secured buyers for all nine blocks of office space, and they are now doing their due diligence.

At RM1,500 per sq ft, he is setting a new benchmark

IT SEEMS like a fluke. With an office space supply in the Klang Valley of 100 million sq ft or more, how could Tan Sri Desmond Lim Siew Choon have garnered sufficient interest for his office space in Pusat Bandar Damansara (PBD) at RM1,500 per sq ft (psf)?

Notwithstanding the fact that the location is indeed very prime – Damansara Heights is an enviable address – property consultants have categorised that location as on the fringe of the KL city.

Yet, according to sources, he has secured buyers, some of whom are “on the waiting list” for nine blocks of offices he will be developing in PBD with a combined 1 million sq ft. According to sources, some parties have paid an earnest deposit as they go through the due diligence process and set their financials in order. Previews started the last quarter of 2014.

Sources say at that price, Lim’s PBD development – to be undertaken privately via landowner Impian Ekspresi Sdn Bhd – would be setting a new benchmark in that area.

Interestingly, Kumpulan Wang Persaraan (KWAP) issued a statement on Wednesday that it had acquired the 39-storey Integra Tower, which is part of The Intermark development in Kuala Lumpur, for RM1.065bil. With a net lettable area of 760,715 sq ft, this translates into about RM1,400 per sq ft.

Located less than 2km from Petronas Twin Towers, Integra Tower is a grade-A office building and has the LEED Platinum certification. LEED, or Leadership in Energy and Environmental Design, is a green building certification programme that recognises best-in-class building strategies and practices. Platinum is the highest LEED rating. Comparing these two property deals on a per sq ft basis – one that is already built and the other that is going to be built – rightly or wrongly, it does seem as though the price of office space between Damansara Heights and the city centre is narrowing. The price of a building is determined by rental. According to KWAP, the Integra will offer an annual yield of 6%. Because of its green building status, rental at Integra begins from RM11 psf, according to a property website. There is a dispute here because property consultancy PPC International managing director Datuk Siders Sittapalam say Integra’s rental is no more than RM10 per sq ft on average.

As a benchmark, office rental at Petronas Twin Towers begins from RM12 per sq ft. Damansara Heights office space rental is between RM4 and RM4.50 per sq ft. With Lim’s offer at RM1,500 psf, rental for PBD will have to be at RM8 psf in order to generate an annual yield of about 6%, according to a source. But that is the current average rental for Grade A office space in the city, not in a suburban location like Damansara Heights.

It will, therefore, be interesting to see how much rental the regenerated PBD can command. A 4,500 sq ft office space in Menara Milenium is being advertised for RM5.50 psf.

According to sources, Lim’s strategy from the start has been to sell the office on a per block basis. In a challenging market scenario, this will be easier to do, the source says. Corporations can also name the office block after the company, a source says.

“This seems to be the strategy today among corporates. If they just buy a few floors, they cannot do that,” he says. He cites the offices in Bangsar South as an example.

In order to sell on a block basis – and because of the oversupply of office space in the Klang Valley – Lim opted for a strategy that “will not overwhelm the market” and one that the market “can absorb.”

Master plan

The initial plan was to have net lettable areas of 60,000 sq ft to 80,000 sq ft. Market research later showed that 100,000 sq ft was an optimum figure and adjustments were made. Although “already approved”, the master plan is currently undergoing minor adjustments.

“Therefore, it is not right to say that Lim has sold all nine blocks. Buyers have shown an interest by putting down a certain percentage of the price per block. If it costs RM100mil, they secure their position by putting down RM2mil. That seems to be the trend today,” the source says.

Unlike large city offices like Integra Tower which KWAP bought earlier this week which has some 25,000 sq ft per floor, Lim’s nine blocks will have a floor area of about 10,000 sq ft. The lowest will be six storeys high, while the highest will be more than 20 storeys, a source says.................

Posted by hng33 > 2015-04-04 08:55 | Report Abuse

.......Car parks will not be an issue, unlike many of the offices located in Damansara Heights area, the source says. Shoppers will fill the PBD car parks on weekends, and office crowd on the week days. The MRT station will be another help.

Lim’s purchase of 6.34 acres in March last year has increased his land holdings in the 46-acre PBD, from 9.5 acres which used to belong to Johor Corp (JCorp) to 15.84 acres. Known as the second phase, Lim will expand the mall he is planning on the larger piece of JCorp land to this second plot which will be connected to the Pusat Bandar Damansara MRT station. The MRT station is currently being constructed in the Jalan Damansara-Jalan Johar intersection.

A source says Lim will build a five-star mall which will be operated by the Pavilion group. The mall, says the source, will have a net lettable area of between 400,000 and 450,000 sq ft, slightly bigger than Bangsar Shopping Centre which is about 322,000 sq ft. This second phase of the mall will be connected to the MRT station. It is this connection which will help to improve the value of the former JCorp land. It was reported that Lim, on a give and take basis, forked out about RM770mil for the JCorp land.

Apart from the nine blocks of office buildings, there will also be three blocks of serviced apartments which will take up 1 million sq ft. Previews of the serviced apartments may begin at the end of the year, with prices beginning from RM1,700 per sq ft or more.

According to industry sources, this is “reasonable” because of the prime location, the two MRT stations and amenities available within that 46 acres.

At RM1,700 psf or more, it will be higher than One Menerung high-rise development, which is between RM1,200 and RM1,400 psf.

Regeneration

By any measure, PBD, which is currently undergoing a regeneration of sorts has piqued interest of various parties. Lim, executive chairman of the Malton group, and better known for KL Pavilion, is undertaking the PBD via his private vehicle Impian Ekspresi Sdn Bhd, who is both land owner and developer.

Lim went into a legal battle with JCorp, the state investment arm of Johor state for that first 9.5 acres, on which he will build his nine office blocks.

The tussle was settled when JCorp and its companies exchanged that 9.5 acres for RM500mil cash and 266,668 sq ft of future office space in PBD, in two portions of 186,667 sq ft and 80,000 sq ft.

JCorp subsequently exchanged that 186,667 sq ft of future office space, valued at RM140mil, for the existing V Square building in Jalan Barat, Petaling Jaya and 964 parking bays (both built by Malton Bhd), while Malton got the rights to space equivalent to RM140mil in the to-be-redeveloped PBD.

A Sept 2, 2014 report by RHB Research said Malton had the option to sell the office space at PBD to Lim starting from RM825 psf to RM1,050 psf over a period of four years starting from November 2014. With Impian Ekspresi selling the office space today at RM1,500 psf, this means another gain for Lim.

JCorp’s rights to 80,000 sq ft of office space in the redeveloped PBD remains. According to the same RHB report, given the RM140mil price tag for V Square, this implies a value of RM750 psf, which means that 80,000 sq ft tranche is worth RM60mil.

In March of last year, Lim increased his stake in PBD when, via Jendela Mayang Sdn Bhd, he bought 6.34 acres next to the former JCorp land from vendor Selangor Properties Bhd (SelProp) for RM450mil, or RM1,628 psf. Jendela Mayang is linked to Lim.

The land, previously used as a HELP Institute car park, was independently valued at RM300mil, or RM1,086 psf. This means Lim is paying 50% more than its valuation.

Other stakeholders on that 46-acre site includes SelProp – the original landowner of a good part of Damansara Heights – which has 13 acres in PBD and GuocoLand group, who is developing Damansara City on 8.5 acres. GuocoLand is also building a mall, a hotel, offices and serviced apartments there

Posted by shan75 > 2015-04-06 12:37 | Report Abuse

Compare to their peers stock price this counter is nut!

Posted by dragonking > 2015-04-06 12:51 | Report Abuse

icon,,,this group also look yummy

Posted by fong7 > 2015-04-07 16:28 | Report Abuse

catalyst is: only need 1 or 2 IBs write a paper on it, then share price can shoot up 100%. :p

Posted by hng33 > 2015-04-08 10:56 | Report Abuse

fong7

Actually Malton received a lot of 'indirect' coverage already through news, mainly by Malton major shareholder Desmond Lim, one of the highest net worth investor and popular know for its successful in developing KL Pavilion and his ambition to replicate such success business model in prime area Damasara Height and Bukit Jali. Although Damasara Height is privately own by Desmond LIm, but Malton will be used by him as its construction arm to rebuild Damasara Height (Malton is also the builder for KL Pavilion). It is estimate the construction contract to rebuild phase 1 alone already worth more than RM 1 billion

Posted by shan75 > 2015-04-08 11:25 | Report Abuse

0.88!

Posted by fong7 > 2015-04-08 15:12 | Report Abuse

ya, but most investors don't know how to read news, they have the nature of spoon feeding. Until an "expert" recommend to buy, they won't dare to buy. That's where we can buy cheap before hand. haha!

Posted by fong7 > 2015-04-08 15:13 | Report Abuse

my TP is 2.00, 0.88 means nothing to me. :P

Posted by shan75 > 2015-04-08 15:17 | Report Abuse

Today closing 0.88 lah bro!