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Author: Callmejholow   |   Latest post: Mon, 9 Dec 2019, 2:55 PM

 

Crest Builder BUYS WCT's Land in Bandar Bukit Tinggi!

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Fresh from the aborted plans to develop the redevelopment of Lot 76 along Jalan Ampang - Crest Builder made a land acquisition in Klang yesterday. 

 

Today - The Star reported that Crest Builder Holdings Berhad’s wholly owned subsidiary, CB Land Sdn Bhd, has inked a sale and purchase agreement (SPA) with Gemilang Waras Sdn Bhd, a subsidiary of WCT Land Sdn Bhd, to acquire a plot of freehold land in Klang for RM55mil.

In a release, Crest Builder said that the acquisition price was arrived on a “willing buyer, willing seller” basis, after taking into account the prospects of the said land, the proposed development and property prices in the surrounding area.

The market value of the land was assessed to be RM57mil, based on the valuation undertaken by Messrs Henry Butcher Malaysia (SEL) Sdn Bhd on Sep 25,2019. This 2.65 hectares land, currently vacant, is situated between AEON Bukit Tinggi and TESCO Extra Klang, with Giant Hypermarket and GM Wholesale city located nearby. It is also within walking distance to two LRT3 stations namely AEON Bukit Tinggi and Tesco Bukit Tinggi of which both will be ready in year 2024.
 

Based on its preliminary plan, Crest Builder intends to develop the land into a mixed development of three blocks of residential serviced apartments and commercial shop lots. The gross development value is estimated to be above RM500mil.

 

A quick check on Google Maps shows the exact location of the land - situated about 500m from TESCO Extra BBT Klang and about 400m from AEON Bukit Tinggi. It is just about 1.5km from the KESAS interchange. 

 

As per The Star's report - the projected GDV is expected to be about RM 500 mil. Based on the acquisition price of RM 55 mil, this amounts to about 11% of total GDV - which is considered to be very low for a land located in a matured neighbourhood. 

 

I think this project would be able to give - say a gross 20% margin over 4 years, starting 2021. 2020 would be submissions, approvals etc, so a Q3 launch perhaps? So, with RM 100 mil margin - that is RM 25 mil per year from this project, to be contributing to the bottomline starting 2021-2024. 

 

 

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fosther MCMC removes 78% of 3,877 fake social media accounts detected — Gobind
KUALA LUMPUR (Dec 2): A total of 3,877 fake accounts on social media have been detected, 78% of which have been deleted by the Malaysian Communications and Multimedia Commission (MCMC) as of September, the Dewan Rakyat was told today.
Communications and Multimedia Minister Gobind Singh Deo said the main factor for the deletion of these accounts was because they were created for the purpose of disguise.
“The deletion of these social media accounts was done with the cooperation with the social media platform providers in accordance with the terms and conditions set by them.
“Meanwhile, a total of 1,564 links and content believed to have elements of cyber-bullying were detected by the MCMC and 63% have been successfully deleted,” he said during the question-and-answer session at the Dewan Rakyat here.
He was responding to a question from Datuk Seri Ismail Sabri Yaakob (BN-Bera), who wanted to know the number of social media account owners who have been blocked and the reasons for it.
Meanwhile, Gobind said the ministry is looking at how existing laws relating to the issue of fake accounts can be improved.
“I hope in the future we can have a new law by the middle of next year but at the same time, enforcement is also important so that when there is a report by the public, action can be taken immediately.
“We will amend section 233 of the Communications and Multimedia Act soon. We see other countries in the region have introduced more stringent new laws, such as in Singapore and Australia,” he said.
Gobind said this in response to a supplementary question from R.S.N Rayer (DAP-Jelutong) who wanted to know how the government will take action to address the increasing freedom of information sharing today especially those with defamatory and fake elements.
03/12/2019 11:55 AM
TheContrarian This one is fake one?
03/12/2019 5:13 PM


 

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