LONDON, 1 October 2019 - The Prime Minister of Malaysia, YAB Tun Dr Mahathir bin Mohamad, visited Battersea Power Station in Central London, UK, on Sunday to witness the significant progress that is being made on this iconic regeneration project, which is owned by a consortium of Malaysian shareholders.
On YAB’s inaugural visit to Battersea Power Station, the Malaysian Prime Minister was greeted by Rick Ramli, Executive Vice President Property/Real Estate of Permodalan Nasional Berhad (PNB), Dato’ Ahmad Pardas Senin, Chairman of Battersea Project Holding Company, Datuk Wong Tuck Wai, Chairman of Battersea Power Station Development Company (BPSDC) and Simon Murphy, Chief Executive Officer of BPSDC. The Malaysian Foreign Minister, YB Dato' Saifuddin bin Abdullah and Malaysian High Commissioner, H.E. Datuk Mohamad Sadik Kethergany, were accompanying the Prime Minister on this visit.
As well as receiving an update on the wider development, the Prime Minister was given a tour of one of the apartments at Circus West Village, the first phase of the project to complete, which has a striking view of the restoration works being carried out on the Power Station itself.
The Battersea Power Station development is owned by S P Setia, Sime Darby Property and the Employees’ Provident Fund (EPF). The commercial assets within the Power Station building are now directly owned by PNB and EPF following an acquisition completed earlier this year representing one of the largest real estate transactions in the UK.
YAB Tun Dr Mahathir bin Mohamad, Prime Minister of Malaysia, at the end of the visit said, “Fantastic! For Malaysians to do this, it is something that we can all be proud of.”
Rick Ramli, Executive Vice President Property/Real Estate of Permodalan Nasional Berhad (PNB), said, “It was a privilege to welcome YAB to Battersea Power Station. The long-term view we are taking on this transformational project is further testament to London’s position as a global city and we are proud that we will play an integral part in a historic moment for both Malaysia and the UK when we open the restored building in 2021."
Progress on the transformation of Battersea Power Station continues at pace with the first apartments within the iconic building now completed. As well as over 250 new apartments, Battersea Power Station will also include half a million sq ft of office space, set to become Apple’s new London Campus, a further 40,000 sq ft of co-working space operated by No18, over 100 shops, a cinema and an 18,500 sq ft food hall. Work has also commenced on the Chimney Lift Experience, a glass elevator inside the North West Chimney that will take visitors up to a 150m high viewing platform to experience unparalleled views over London. Strong headway is also being made on Electric Boulevard, the third phase of the project which comprises buildings by Gehry Partners and Foster + Partners, forming their first-ever collaboration.
Dato' Ahmad Pardas Senin who is the Chairman of Battersea Project Holding Company, said, “We are honoured to welcome our very own prime minister and showcase the remarkable progress that is being made at Battersea Power Station. We are confident that projects such as Battersea Power Station help to underpin the credentials of Malaysia and Great Britain as global champions of free trade.”
Datuk Wong Tuck Wai, Chairman of BPSDC added, “It was a great opportunity to have been able to show YAB around Battersea Power Station which is being given a new lease of life thanks to the time and resources devoted to this iconic project by our consortium. We are incredibly proud of this ambitious venture and are determined to create a new benchmark and be the envy of the development world.”
The first phase, Circus West Village, is open and home to over 1,000 residents as well as a thriving community of restaurants, bars and cafes as well as a cinema, hair and beauty salon, theatre and spin studio. Over two million people have visited this new riverside destination in the last 12 months, as well as playing host to a number of different festivals over the summer, including the London Seafood Festival.
There is also a successful wide-ranging community engagement strategy in place that ensures that local people and the wider London community also benefit from this transformational project.
Stay updated on Sime Darby Property activities and developments at simedarbyproperty.com, Facebook (facebook.com/SimeDarbyProperty), Instagram (instagram.com/SimeDarbyProperty) and the Sime Darby Property Mobile App (available for download via the App Store and Google Play).
Sime Darby Property is Malaysia’s largest property developer in terms of land bank with 20,374 acres of remaining developable land. On the back of a successful 46-year track record of developing sustainable communities, Sime Darby Property has to date built 23 active townships/developments with a global reach that encompasses assets and operations across the Asia Pacific region and the United Kingdom. In the UK, as part of a Malaysian consortium, Sime Darby Property is the developer of the iconic Battersea Power Station project in central London.
Sime Darby Property is a multiple award-winning property group with numerous local and international accolades. It is the first Malaysian property developer to be awarded the International FIABCI Prix d’Excellence Awards twice for its Subang Jaya and UEP Subang Jaya townships. The company bagged its 9th consecutive Gold at the Putra Brand Awards 2018 and its 6th consecutive Top 10 Developers Awards at the BCI Asia 2015. Sime Darby Property has also been recognised as among the top developers in Malaysia in the annual The Edge Top Property Developers Awards, a recognition which the company consistently receives since 2009.
SIME DARBY PROPERTY'S SPOTLIGHT 8 CAMPAIGN HITS THE SPOT WITH RM1 BILLION IN SALES One final weekend of Superdeals up for grabs, due to public demand
ARA DAMANSARA, 2 OCTOBER 2019 - Sime Darby Property has beat the odds of current property market conditions by achieving RM1 billion in sales from its Spotlight 8 campaign which ran from 13 July to 29 Sept, with 1,127 units sold.
The Spotlight 8 campaign offered attractive rebates for existing properties within established and emerging townships, and new products ranging from the property developer’s affordable collection to a co-created residential project, across eight locations in the Greater Klang Valley.
Buyers flocked to the eight locations namely Bandar Bukit Raja, City of Elmina, KL East, Subang Jaya, Serenia City, Putra Heights, Negeri Sembilan and Kajang, for a chance to grab the best deals offered throughout the campaign period.
Sime Darby Property Acting Group Chief Executive Office Dato’ Wan Hashimi Albakri Wan Ahmad Amin Jaffri said the support from homebuyers throughout the Spotlight 8 campaign has been overwhelming.
“Despite the current property market condition, we managed to pull in sales that exceeded our expectations. The numbers clearly show that there is a demand for freehold landed quality homes with an attractive price tag, at great locations that are easily accessible.”
“Our achievement is also possible with the supporting initiatives by the government like the Home Ownership Campaign and financing schemes. We are grateful for the government’s continuous support of the local property industry,” he said.
Over the twelve-week period, Sime Darby Property launched three new projects -Kyra and Laman Lakeside in Bandar Bukit Raja, and Serenia Arina, in Serenia City, Sepang, and offered a preview of Aurora, the first dto-based high-rise project in Subang Jaya City Centre.
The new projects received overwhelming response with Kyra, the second series in the Affordable Homes Collection, achieving 95% take up, while Laman Lakeside, the RM1.5 million semi-detached and lakeside homes in Bandar Bukit Raja, raked in 84% take up. The launch of Serenia Arina was a success with 91% take up, proving that there is a demand for property in the Klang Valley.
Sime Darby Property Chief Marketing and Sales Officer Gerard Yuen Yun Wei said the initial plan for Serenia Arina was to launch just 100 units but they were fully taken up within the weekend. Subsequently, an additional 75 units were open for sale.
“The Serenia City Gallery was a hive of activity days prior to the launch of Serenia Arina as eager homebuyers visited the gallery earlier in the week to be first in line. We had people who wanted to spend the night at the gallery. What was surprising to us was that our corner units were taken up faster than other lots and not just by buyers from the Klang Valley but from all over Malaysia. Tears were even shed because a buyer missed the chance to grab a corner unit in Serenia Arina.”
“We have seen positive momentum, especially for landed properties. The reception towards our products have been encouraging thus far and we will continue to review and improve our sales and marketing strategy to hit our target sales but on top of that, we will continue to launch products within the range aligned to market demand, and offer attractive prices for our quality homes at great locations,” he added.
As a way to say thank you for making Spotlight 8 such a success, Sime Darby Property is offering one final weekend of Superdeals on 5 – 6 October 2019.
Over 900 new homebuyers saved millions of Ringgit throughout the Weekend Superdeals from July until September 2019. This will be your last chance to grab the best deals for limited units at some great locations, especially for those who missed out on our Superdeals, New Launches, and Previews.
Source : PUBLIC BANK Stock : SIMEPROP Price Target : 1.30 | Price Call : BUY Last Price : 0.82 | Upside/Downside : +0.48 (58.54%)
Back
Sime Darby Property (SDPR) delivered a better than expected 2QFY19 net profit of RM205.3m (+340.8% YoY, -22.6% QoQ) which was above our and consensus expectations. In 1H2019, the Group’s net profit of RM470.3m (+486.2% YoY) constituted 91% and 112% of our and consensus estimates. This was primarily due to higher-than-expected profit from sale of its Bukit Selarong land in Kedah (RM81.1m gain) and faster-than-expected billings from its main townships such as Bandar Ainsdale, Bandar Bukit Raja, City of Elmina, Nilai Impian/Utama and Bukit Jelutong. We adjust our FY19 by +17.6% to account for higher land sale gains and change of billing assumptions. Maintain our Outperform recommendation and RM1.30 TP, pegged at c.60% discount to our RNAV estimates given the prolonged headwinds facing the sector currently.
Property development division’s revenue jumped 146% YoY to RM176.8m due to higher sales and development activities achieved in its township developments. Most townships delivered higher revenue with exception of Serenia City Township. On track to meet its RM2.3bn new property sales in FY19. We understand that the Group leveraged on the on-going Home Ownership Campaign (HOC) to strategically launch a total of 2,082 units with combined GDV of RM1.2bn. in 1H2019, the Group successfully sold RM1.4bn worth of properties. Unbilled sales are currently at RM1.5bn. We still believe that the Group would accelerate its property launches in the upcoming quarters to replenish its unbilled sales. Elsewhere, the Group will continue to monetize non-core land as part of its business and to optimize its vast landbank. Source: PublicInvest Research - 29 Aug 2019
[SIMEPROP] Change In Substantial Shareholder's Shareholding - EMPLOYEES PROVIDENT FUND BOARD on 03-Oct-2019 Stock [SIMEPROP]: SIME DARBY PROPERTY BERHAD Announcement Date 03-Oct-2019 Substantial Shareholder's Particular: Name EMPLOYEES PROVIDENT FUND BOARD Details of Changes: Currency - Date of Change Type Number of Shares 30-Sep-2019 Acquired 225,400 Registered Name Citigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund Board Nature of Interest Direct Interest Nature of Interest Direct Interest Shares Ordinary Shares Reason Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (Acquisition of 225,400 shares on 30 September 2019) Total no of securities after change Direct (units) 681,545,712 Direct (%) 10.02 Indirect (units) 71,021,798 Indirect (%) 1.04 Total (units) 752,567,510 Total (%) 11.06 Date of Notice 01-Oct-2019
this technical analysis forecast only becoming a reality in this month? :)
Sime Darby Property may rebound further after it tested MYR0.79 support in the recent session. The stock has formed a white candle and left an upside gap, this indicates a positive sign. A positive bias may emerge above the MYR0.825 level, with an exit set below the MYR0.79 threshold. Towards the upside, the immediate resistance is at the MYR0.91 level. This is followed by the MYR0.975 mark.
Out of 14 developers under our coverage; (i) 43% were below our earnings expectations compared to 36% in 1QCY19 (AMVERTON, LBS, MAGNA, MAHSING, MRCB and SPSETIA) mainly due to timing of billings, and weaker margins from inventory clearing efforts, (ii) 14% surprised positively mainly on better than-expected billings and/or project margins (SIMEPROP, SUNSURIA), and (iii) the rest were within to broadly within expectations. For those that missed expectations, we reduced our FY19E earnings by 11%-
In Budget 2019, the government increased the real property gains tax (RPGT) rate for the disposal of property in the sixth year and subsequent years, from 5% to 10% for companies as well as non-citizens and non-permanent resident individuals; and from 0% to 5% for others.
This increase in the RPGT rate has not been positively received by genuine home owners whose intention is not to make a gain from capital appreciation, but instead to upsize or downsize their homes to best suit their needs, for example to finance children’s education or due to retirement plans.
Following feedback to the government, it is hoped that Budget 2020 will address this concern, perhaps through the introduction of a new category of RPGT where any disposal of property in the 10th year and subsequent years will be not be subject to RPGT.
i think , our aging population, downsizing is real for various purposes ... simep with its strong brand should capitalise on this segment also
This increase in the RPGT rate has not been positively received by genuine home owners whose intention is not to make a gain from capital appreciation, but instead to upsize or downsize their homes to best suit their needs, for example to finance children’s education or due to retirement plans.
Following feedback to the government, it is hoped that Budget 2020 will address this concern, perhaps through the introduction of a new category of RPGT where any disposal of property in the 10th year and subsequent years will be not be subject to RPGT.
on sept 12, after falling 2.5sen , it rebounded on the following few days... expecting the same also for the deep fall yesterday. coming few days, rebound again
Good news for KLSE and Malaysia's economy with budget 2020... Like that our KLSE will spike up to break above 1,800 points ~ 2,000 points after budget i.e year 2000, 2021 and etcs
haha wasted my time and money here, that why I cutlost sold earlier and earn money at Jaks & revenue. Dont con at this stock u wil miss alot opportunity
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....
Wing23
415 posts
Posted by Wing23 > 2019-09-17 16:28 | Report Abuse
Big volume at buy & sell queue keep changing hand