Source: sqftglobal.com

Perhaps a strong differentiating factor of the Astoria is its “green living” concept – something which is novel given that it’s a condominium designed for those who want to live in the inner city. Indeed, out of the six acres of land, four acres have been earmarked for a playground which will feature cycling and jogging tracks, waterfalls, a landscaped park, a water stream and a hammock garden.

These facilities will be located on a podium of six levels.
Additionally, there are also swimming and wading pools which include some pretty nifty features like meandering streams, pavilions and water cascades. Social and entertainment amenities are also available: namely yoga and tai chi areas, a gym, BBQ areas, tennis courts, children’s play area as well as an amphitheater.

There is no sky lounge which somewhat surprises me given that the feature would definitely be a strong selling point for many prospective tenants and investors. Indeed, we have been receiving a substantial number of DealMatcher requests from investors who wanted city condominiums with view of KL skyline to be rented out at a premium during festivities and New Year Eves.

Although this might change, there are reports that there won’t be retail outlets and offices in the project (although the Astoria is on commercial land). This can be a good thing for some (less congestion) but bad for others (those who want superior Walkability).

Source: sqftglobal.com
However, given its location on Jalan Ampang, most amenities are near; indeed, we are expecting its Walkability Scores to be in the region of 70-80 (compared to KLCC condominiums which are typically in the high 80’s and 90’s range). Also, public transport facilities are abundant, with Dato’ Keramat and Jelatek LRT stations near the vicinity.

Additionally, the Ampang Point MRT station will also be easily accessible once completed.

Access wise, since the Astoria is on Jalan Ampang, it is connected to a couple of major KL arteries such as the DUKE, SMART, MRR2 and AKLEH. Indeed, we can foresee tenants using the AKLEH to go to the city in order to avoid the perennially jammed up Jalan Ampang.

WHAT WE THINK: Launches in downtown KL at less than RM1,000 PSF are a rarity nowadays, and as such the Astoria does stand out with its competitive prices and smaller sized units. Astoria is also decidedly a “yuppie” project with majority of units at sub 1,000 sq ft sizes; this is in line with the ongoing trend of projects with smaller units in the inner city. Its location on Jalan Ampang is also hard to beat.

On the minus side, the status of the land (commercial leasehold) may be less appealing to some. Also, given the number of new projects which seems to be popping up like mushrooms in that area. However, given the relatively lower pricing (at least on a PSF basis) there could be some further upside even with the projected “onslaught” of supply in the coming years when the new projects get completed.

Astoria Project Brief
Developer : Xtreme Meridian Sdn Bhd (954493-X)
A subsidiary of Land & General Berhad (L&G)
Location : Fronting Jalan Ampang (4.8km to CBD)
Land Tenure : leasehold
Land Size : 5.7 acres
Landscape Facilities Area: 3-4 acres
Buid up Area : 560 sqft- 1505 sqft
Total Units :253/tower
Total Storeys : 43 storeys
Total Tower : 4 towers
Total Sizes :Type A: 560 sqft (1 bedroom)
Type B: 735 sqft ( 2 bedroom)
Type C: 888sqft (2+1 bedroom)
Type D 1050 sqft (3 bedroom)
Type E : 1505 sqft ( 4 bedroom, Dual Key)
Target Completion :4 years from launch date

Astoria Ampang
February 9, 2015 By Khai Yin 1 Comment

Now given that most mid / upper market developments are launched at the pivotal RM1,000 PSF price point and above, Astoria’s rather competitive pricing may raise an eyebrow or two. Indeed, prices start at about RM950 PSF, and the cheapest (and smallest) unit stands at just barely in the region of RM500,000. That’s practically unheard of for a city condominium these days…

Given that the upper tier high rise segment is due for a correction soon enough, perhaps the developer Land & General (L&G) is already plowing ahead of the curve. Looking at Astoria’s location on Jalan Ampang which is already somewhat cluttered by new projects (Arte+, D’Rapport, Mah Sing’s M-City, Novo), the sub RM1,000 PSF price point may reflect the state of increasing supply.

With an estimated gross development value (GDV) of RM900 million, Astoria will be a prominent showcase on L&G’s roster of projects (which include The Elements @Ampang and the townships of Damansara Foresta and Bandar Sri Damansara). These serviced apartments come in sizes between 560 sq ft to 1,505 sq ft, and the project is scheduled to be completed in 2019.

The Astoria comprises of four condominium blocks of 46 storeys in height, with each block housing some 253 units, bringing the total to 1,012 units. The project is situated on a little less than six acres of (leasehold) land on Jalan Ampang.

The unit types and sizes are as follows:-
• Type A: 560 sq ft (1R)
• Type B: 735 sq ft (2R)
• Type C: 888 sq ft (2+1R)
• Type D: 1,505 sq ft (4R)

Looking at the sizes and layouts, types A, B and C are perhaps suitable for the yuppie, city-dwelling kind while D seems to appeal to investors given its dual key facility (similar to the Expressionz off Jalan Tun Razak).

https://www.facebook.com/photo.php?fbid=1693692357525174&set=pcb.1693692394191837&type=1&theater

https://www.facebook.com/photo.php?fbid=1693692360858507&set=pcb.1693692394191837&type=1&theater

Good News to Karambunai :
Xiamen University M’sia campus targets student enrollment by 1Q16
By Meena Lakshana / theedgemarkets.com | July 9, 2015 : 5:16 PM MYT
PETALING JAYA (July 9): The Xiamen University Malaysia campus is slated to open its doors to students in the first quarter of next year.

Xiamen University professor of economics Wang Ruifang said today the construction for a portion of the campus’ Phase 1, which comprises student hostels and a temporary teaching site, is expected to be completed by end of April next year.
The entire Phase 1 of the campus, comprising a main building, four blocks for student activities, a stadium and an Olympic-size swimming pool, is slated for completion by end of September next year.

“We are working very hard to meet the target. With the help of various parties, we are sure we can make it happen,” he told reporters before a visit around the campus site under construction.
Wong said Phase 2 of the campus, comprising seven blocks dedicated to research, is a five-year plan that would depend on the market’s reaction to the first phase of the campus.

The Xiamen University Malaysia campus is the first Chinese university branch campus in Malaysia, as well as the first overseas campus set up by a Chinese university.

The Malaysian campus is situated on 150 acres of land in Dengkil, Sepang. The land was formerly owned by Sime Darby Bhd ( Financial Dashboard).

Wong said the total investment of the project is RM1.3 billion, with the first phase to cost RM600 million. He also said the university expects to enrol 5,000 students at the Malaysian campus by 2020.

He said the Malaysian campus of the university will be recruiting 30% of its teaching staff from the parent Xiamen University in China while other “high-grade” teachers will be recruited worldwide.
“They (teachers from parent Xiamen University) will have a distinguished education background from foreign countries, meaning they will be able to speak English fluently,” he said.
“We will also be inviting distinguished professors to deliver seminars here,” he added.

He also said an academic exchange programme centre will be built at the Malaysian campus, which will be able to accommodate more than 100 students.

He said the Xiamen University campus in China has agreed to hold exchange programmes with the Malaysian campus, whereby students for Malaysia will be able to study at the parent university in China for one or two semesters.

However, Wong said the programme is only applicable for courses that are taught in English.
He said tuition fees at the Malaysian campus will be about RM25,000 per annum, with hostel rent to range between RM300 to RM600 per month.

So far, the Malaysian Qualification Agency has approved subjects such as Chinese Studies, Journalism, International Business, Accounting, Traditional Chinese Medicine, Digital Media Technology and New Energy Science and Engineering to be taught at the Malaysian campus, while other subjects such as Finance and Marine Biotechnology are pending approval.

The establishment of the Xiamen University Malaysia campus was facilitated by Sunsuria Bhd ( Financial Dashboard) executive chairman Datuk Ter Leong Yap with the donation of other key figures such as tycoon Tan Sri Robert Kuok and IOI Group ( Financial Dashboard)’s Tan Sri Lee Shin Cheng.

Sunsuria Bhd (fundamental: 2.5; valuation: 0) will also establish a township surrounding the Malaysian campus with a gross development value (GDV) of RM900 million, comprising 663 units of residential properties, of which 200 units will be linked houses in the range of RM500,000 and the rest are low-rise apartments priced below RM400,000.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Keladi Maju appoints former IJM Corp CEO as MD
By Chester Tay / theedgemarkets.com | July 1, 2015 : 7:58 PM MYT
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KUALA LUMPUR (July 1): Keladi Maju Bhd ( Financial Dashboard) announced to Bursa Malaysia that former IJM Corp Bhd chief executive officer (CEO) Datuk Teh Kean Ming is appointed as the property developer's managing director (MD), effective today.

In a separate filing with the stock exchange, Keladi Maju (fundamental: 1.65; valuation: 2.4) said its existing MD Datuk Ir Chuah Chin Ah has been redesignated as executive deputy chairman.
Teh joined the board of IJM Corp as an alternate director on Sept 1, 2005 and was the deputy CEO and deputy MD of IJM Corp from July 1, 2008 to Dec 31, 2010. He was then appointed CEO and MD of the company on Jan 1, 2011 and retired on Apr 5, 2015.

Chuah, on the other hand, is one of the founders of Keladi Maju and has been the MD of the group since 1986.

Keladi Maju rose half sen or 1.72% to 29.5 sen today, giving it a market capitalisation of RM219.91 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Keladi Maju’s 1Q net profit triples to RM8.79m on higher property sales
By Levina Lim / theedgemarkets.com | June 22, 2015 : 7:02 PM MYT

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KUALA LUMPUR (June 22): Keladi Maju Bhd ( Financial Dashboard)’s net profit tripled to RM8.79 million or 1.16 sen a share for the first financial quarter ended April 31, 2015 (1QFY16) from RM2.92 million or 0.38 sen a share a year ago, mainly due to higher contribution from its property development segment.
Revenue was also higher, tripling to RM24.74 million from RM7.93 million in the previous corresponding quarter. “The higher recognition of revenue and profit before tax were mainly due to improved sales activities and construction progress billings achieved.

“During the quarter under review, a built then sell project comprising 236 units of terrace houses in Phase 4B2 of Taman Lagenda was completed with approval of Certificate of Completion and Compliance (CCC) and achieved 100% sales rate,” it said in a filing with Bursa Malaysia today.

Meanwhile, its palm oil cultivation division posted a 6% rise in pre-tax profit to RM501,000 from RM471,000 a year ago, on the back of an 18% rise in revenue to RM844,000.

According to Keladi Maju, 2015 will be a challenging year due to the depreciation in value of the Ringgit, the slump in crude oil price and inflationary effect due to implementation of the goods and services tax dampening consumer spending pattern.

“Nevertheless, all the group’s projects which are in progress at Taman Lagenda and Taman Desa Cinta Sayang are expected to contribute positively to the earnings of the group for the remaining period of the financial year,” said the property and plantation group.

Keladi Maju said it will continue to embark on development of affordable and saleable properties from its existing development land banks.

“With diligent development planning together with the steady smooth implementation, the prospects of the group remain bright,” it added.

Keladi Maju (fundamental: 1.65; valuation: 1.8) shares were untraded at 28 sen today, giving it a market capitalisation of RM212.33 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Keladi Maju’s 1Q net profit triples to RM8.79m on higher property sales
By Levina Lim / theedgemarkets.com | June 22, 2015 : 7:02 PM MYT
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KUALA LUMPUR (June 22): Keladi Maju Bhd ( Financial Dashboard)’s net profit tripled to RM8.79 million or 1.16 sen a share for the first financial quarter ended April 31, 2015 (1QFY16) from RM2.92 million or 0.38 sen a share a year ago, mainly due to higher contribution from its property development segment.

Revenue was also higher, tripling to RM24.74 million from RM7.93 million in the previous corresponding quarter. “The higher recognition of revenue and profit before tax were mainly due to improved sales activities and construction progress billings achieved.

“During the quarter under review, a built then sell project comprising 236 units of terrace houses in Phase 4B2 of Taman Lagenda was completed with approval of Certificate of Completion and Compliance (CCC) and achieved 100% sales rate,” it said in a filing with Bursa Malaysia today.
Meanwhile, its palm oil cultivation division posted a 6% rise in pre-tax profit to RM501,000 from RM471,000 a year ago, on the back of an 18% rise in revenue to RM844,000.

According to Keladi Maju, 2015 will be a challenging year due to the depreciation in value of the Ringgit, the slump in crude oil price and inflationary effect due to implementation of the goods and services tax dampening consumer spending pattern.

“Nevertheless, all the group’s projects which are in progress at Taman Lagenda and Taman Desa Cinta Sayang are expected to contribute positively to the earnings of the group for the remaining period of the financial year,” said the property and plantation group.
Keladi Maju said it will continue to embark on development of affordable and saleable properties from its existing development land banks.

“With diligent development planning together with the steady smooth implementation, the prospects of the group remain bright,” it added.

Keladi Maju (fundamental: 1.65; valuation: 1.8) shares were untraded at 28 sen today, giving it a market capitalisation of RM212.33 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Keladi Maju appoints former IJM Corp CEO as MD
By Chester Tay / theedgemarkets.com | July 1, 2015 : 7:58 PM MYT
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KUALA LUMPUR (July 1): Keladi Maju Bhd ( Financial Dashboard) announced to Bursa Malaysia that former IJM Corp Bhd chief executive officer (CEO) Datuk Teh Kean Ming is appointed as the property developer's managing director (MD), effective today.
In a separate filing with the stock exchange, Keladi Maju (fundamental: 1.65; valuation: 2.4) said its existing MD Datuk Ir Chuah Chin Ah has been redesignated as executive deputy chairman.
Teh joined the board of IJM Corp as an alternate director on Sept 1, 2005 and was the deputy CEO and deputy MD of IJM Corp from July 1, 2008 to Dec 31, 2010. He was then appointed CEO and MD of the company on Jan 1, 2011 and retired on Apr 5, 2015.
Chuah, on the other hand, is one of the founders of Keladi Maju and has been the MD of the group since 1986.
Keladi Maju rose half sen or 1.72% to 29.5 sen today, giving it a market capitalisation of RM219.91 million.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Keladi Maju appoints former IJM Corp CEO as MD
By Chester Tay / theedgemarkets.com | July 1, 2015 : 7:58 PM MYT
Share on facebook Share on twitter

KUALA LUMPUR (July 1): Keladi Maju Bhd ( Financial Dashboard) announced to Bursa Malaysia that former IJM Corp Bhd chief executive officer (CEO) Datuk Teh Kean Ming is appointed as the property developer's managing director (MD), effective today.
In a separate filing with the stock exchange, Keladi Maju (fundamental: 1.65; valuation: 2.4) said its existing MD Datuk Ir Chuah Chin Ah has been redesignated as executive deputy chairman.
Teh joined the board of IJM Corp as an alternate director on Sept 1, 2005 and was the deputy CEO and deputy MD of IJM Corp from July 1, 2008 to Dec 31, 2010. He was then appointed CEO and MD of the company on Jan 1, 2011 and retired on Apr 5, 2015.
Chuah, on the other hand, is one of the founders of Keladi Maju and has been the MD of the group since 1986.
Keladi Maju rose half sen or 1.72% to 29.5 sen today, giving it a market capitalisation of RM219.91 million.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

Keladi Maju’s 1Q net profit triples to RM8.79m on higher property sales
By Levina Lim / theedgemarkets.com | June 22, 2015 : 7:02 PM MYT
Share on facebook Share on twitter

KUALA LUMPUR (June 22): Keladi Maju Bhd ( Financial Dashboard)’s net profit tripled to RM8.79 million or 1.16 sen a share for the first financial quarter ended April 31, 2015 (1QFY16) from RM2.92 million or 0.38 sen a share a year ago, mainly due to higher contribution from its property development segment.

Revenue was also higher, tripling to RM24.74 million from RM7.93 million in the previous corresponding quarter. “The higher recognition of revenue and profit before tax were mainly due to improved sales activities and construction progress billings achieved.

“During the quarter under review, a built then sell project comprising 236 units of terrace houses in Phase 4B2 of Taman Lagenda was completed with approval of Certificate of Completion and Compliance (CCC) and achieved 100% sales rate,” it said in a filing with Bursa Malaysia today.
Meanwhile, its palm oil cultivation division posted a 6% rise in pre-tax profit to RM501,000 from RM471,000 a year ago, on the back of an 18% rise in revenue to RM844,000.

According to Keladi Maju, 2015 will be a challenging year due to the depreciation in value of the Ringgit, the slump in crude oil price and inflationary effect due to implementation of the goods and services tax dampening consumer spending pattern.
“Nevertheless, all the group’s projects which are in progress at Taman Lagenda and Taman Desa Cinta Sayang are expected to contribute positively to the earnings of the group for the remaining period of the financial year,” said the property and plantation group.

Keladi Maju said it will continue to embark on development of affordable and saleable properties from its existing development land banks.

“With diligent development planning together with the steady smooth implementation, the prospects of the group remain bright,” it added.

Keladi Maju (fundamental: 1.65; valuation: 1.8) shares were untraded at 28 sen today, giving it a market capitalisation of RM212.33 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)