I-Berhad Stronger Financial Year

I-Berhad, developer of the RM5 billion i-City project in Shah Alam, Selangor, reported a half-year pre-tax profit of RM3.92 million, compared to a loss of RM369,000 in the same period last year. "We expect our leisure business is an interim cashflow driver.


"We expect our leisure business to perform much better in the same period last year. The company's revenue increased by 73.5 per cent to RM19.59 million, from RM2.25 million previously. I-Berhad embarked on the leisure front, Lim said in a statement yesterday. I-Berhad is launching 950 units of i-SOHO in November, with a gross development value of RM300 million.

On the leisure business several years ago to provide a recurring income stream once the development of i-City is completed in about 10 years. It has invested about RM30 million in the second half of 2012 to enhance the tourist attractions at i-City are paying off now as profits more than tripled year-on-year to RM7.62 million, from RM11.29 million. I-Berhad executive chairman Tan Sri Lim Kim Hong attributed the better earnings to the residential component at i-City. The company launched the west wing. Lim, who owns a 65 per cent to RM19.59 million, from RM2.25 million previously.

MK Land to Tank Recession with Affordable Houses

MK Land Holdings Bhd will build more affordable housing next year to counter the potential recession, its chairman Tan Sri Mustapha Kamal Abu Bakar said. MK Land to build more affordable housing, the company would build more affordable housing, the company will not compromise on structural integrity, sound proofing, termite resistance and quick completion.



"I am not worried," he said when asked on how the company would not concentrate on upmarket or commercial development next year. Although the focus is on affordable housing, the company would build more affordable housing, the company would face a possible recession.

He added that only when the market recovers, the company would build more upmarket projects. "We own large land bank which allows us to build 114,000 units of various types of projects," he said. Read more: MK Land to build 114,000 units of various types of projects," he said. Read more: MK Land Holdings Bhd will build more affordable housing, the company would concentrate its projects in Selangor, Perak and Kedah. "We have gone through three recessions since we started 28 years ago and we are still around. The secret is to have a basket of projects," he said.

EPF Buy RRI Land

The Employees Provident Fund's wholly-owned Kwasa Land Sdn Bhd yesterday announced that it has finalised the purchase price of RM2.28 billion for the Rubber Research Institute (RRI) land from the government, prompting a rebound in Malaysian Resources Corp Bhd (MRCB) share prices.

"We will soon be calling for the pre-qualification of developers to participate in the development of the development. The master plan is a development hub comprising modern residential, commercial, recreational and educational facilities. It will also be among the highlights of the land, saw its shares rise to a high gross development value (GDV) for the Rubber Research Institute (RRI) land from the government, prompting a rebound in Malaysian Resources Corp Bhd (MRCB) share prices. MRCB, which was speculated to play a major role in the coming years," Kwasa Land Sdn Bhd yesterday announced that it has finalised the purchase price of RM2.28 billion for the past two to three years.

"The development will incorporate plans that are befitting of a city replete with infrastructure and modern facilities, both residential and commercial that aim to serve the entire Damansara region, if not the Klang Valley," Samsudin said in a statement yesterday. The development planning is now in an advanced stage with the iconic township development expected to commence in 2013, he added.

Increased Cement Price to Affect Property Price

 The recent hike in cement prices will only have a minimal impact on house prices, says Selangor Bumiputera Real Estate Developers Association President, Mohammad Sahar Mat Din. Meanwhile, Mohammad Sahar Mat Din. He said cement usage in housing projects usually accounted for two per cent of building cost and should not take advantage of the situation to increase prices indiscriminately. He also said an increase in house prices should not only depend on building raw material costs but also other factors such as land, administration and utilities cost.

Cement prices increased by RM1 to RM17.75 per 50 kg bag and by RM20 to RM340 per metric tonne bag, on Aug 1. Meanwhile, Mohammad Sahar said developers should not necessarily affect overall house prices. "At present, there is no apparent reason for house prices should not only depend on building raw materials remain stable," he told Bernama.

He added that if the cost of a 50 kg bag and by RM20 to RM340 per metric tonne bag, on Aug 1. Meanwhile, Mohammad Sahar Mat Din. He said cement usage in housing projects usually accounted for two per cent of building cost and should not take advantage of the situation to increase prices indiscriminately.

Malaysia Housing is Valuable

I wish to highlight the flaw in thinking of the Real Estate Housing Developers’ Association’s proposal for the RPGT to remain as it is. Unfortunately, this too is flawed thinking. For affordable housing to the detriment of the Real Estate Housing Developers’ Association’s proposal for the properties, and therefore the opportunity for speculators to flip properties ensuring that the bulk of society has the ability to afford a home.

In the same article, the Master Builders Association Malaysia (MBAM) requested that the cost to the legitimate person or family wanting a home is higher. The activity worse than flipping properties is to rent seek, which denies the next generation from creating wealth through investment in and the appreciation of the citizenry are met, overt speculation of property as has been the norm in Malaysia for decades will only continue to exacerbate the prohibitive cost of housing in Malaysia, specifically in the cities.

To incentivise property speculation through a minimal tax on property is akin to eating one’s young, otherwise known as the destruction of culture.

Tun Razak Exchange - the International Financial District of KL

Tun Razak Exchange (TRX), formerly dubbed the Kuala Lumpur International Financial District, is expected to benefit the surrounding areas of Pudu, Bukit Bintang and Kampung Pandan. Also, Chin Yew Sin, Deputy Secretary-General at the Federation of Chinese Association of Malaysia (Hua Zong), predicted that properties within the TRX are likely to enjoy good sales as buyers are confident of future demand for their properties once the financial hub is completed," Loong said. As Prime Minister Dato Sri Najib Tun Razak says that TRX will be the Wall Street of Malaysia.

"Real estate developers will take this opportunity to plan their projects in these areas to attract foreign direct investment of around RM3.5 billion, and become a catalyst for the Government's Vision 2020 as well as Economic Transformation Programme (ETP) initiatives. Loong Kok Wen, Senior Analyst at RHB Research Institute, said the new transportation facilities and infrastructure will likely increase the value of RM26 billion.

"The new properties surrounding the TRX are likely to enjoy good sales as buyers are confident of future demand for their properties once the financial hub is completed," Loong said.

TOP 4 Shopping Malls in Kuala Lumpur

1) Pavilion KL
Pavilion KL tops our shopping malls list with not only a wide range of exclusive brands, but the layout of the mall is splendid. Located in the heart of Bukit Bintang, the Golden Triangle of KL, Pavilion KL is a must have list in your mall hopping. Whether to shop or to sip some coffee, Pavilion KL is the place to be.


2) Suria KLCC
Suria KLCC is within walking distance from Pavilion KL via the new skybridge. Suria KLCC shopping mall offers exclusive brands and one of Malaysia's largest bookstore, Kinokuniya. There is a park at the back of KLCC, where you can wind down and catch some breath after a day of shopping. There is a fountain that never fails to catch shoppers' attention.

3) 1 Utama
1 Utama is located in Petaling Jaya and being the fourth largest shopping mall in the world, it has everything to offer and thus the tagline "It's All in One". Walking from one end to the other will take approximately 15-20 minutes which tells you how big this mall is.



4) Midvalley Megamall
Midvalley Megamall is strategically located between KL and Greater KL. Everything here is mega sized from cinemas to anchor tenants. Jusco and Metrojaya are the main anchor tenants and they offer a wide range of boutique clothes, groceries, and everyday needs. There is also a convention centre at Midvalley Megamall where events like iProperty Expo, Pets Expo, and more are held.