Latest news with #RM117
Malaysian Reserve
01-07-2025
- Business
- Malaysian Reserve
Kerjaya Prospek unveils RM230m land deals, JV in KL and Penang
KERJAYA Prospek Group Bhd has announced a series of strategic land acquisitions and a new joint venture (JV) project, strengthening its presence in both the Klang Valley and Penang property markets. The group, through its wholly owned subsidiary Senandung Raya Sdn Bhd, is acquiring three parcels of freehold land in Jalan Puchong, Kuala Lumpur. The acquisitions – made via three separate sale and purchase agreements – are valued at a combined RM112.8 million. The land parcels include a 3.9-acre tract from Sunrise Bright City Sdn Bhd for RM59.1 million, and two parcels measuring 1.7 and 1.8 acres respectively from Top Up Properties Sdn Bhd for a total of RM53.7 million. The sites are strategically located near the KESAS, Federal Highway and LDP, and are surrounded by mature neighbourhoods and key amenities. Kerjaya said the acquisitions will be financed via a mix of internal funds and bank borrowings, with completion expected by September 2025. In Penang, the group is venturing into a landmark mixed-use development in Tanjung Bungah through a JV with Aspen Vision Tanjung Sdn Bhd, a unit of Singapore-listed Aspen (Group) Holdings Ltd. A special purpose vehicle, Tanjung Bungah Development Sdn Bhd (TBD), has been set up to undertake the project. Kerjaya holds a 60% stake in TBD via Kerjaya Prospek Ventures Sdn Bhd, while Aspen Vision Tanjung holds the remaining 40%. The project will be developed on 4.5 acres of freehold land, with a total land consideration of RM117 million – comprising RM105 million in cash and RM12 million in in-kind property units. TBD will reimburse Aspen RM60 million (RM4 million via share capital and RM56 million as advances), while assuming the balance RM52 million via borrowings or internal funds. The project is expected to be completed by December 2025. 'These milestones reflect our continued focus on building long-term value for the group. We are highly selective about where we invest, and both Klang Valley and Penang are markets we know well. These two locations present compelling opportunities with steady demand and plenty of room for development potential,' Kerjaya CEO and ED Tee Eng Tiong said. 'Our balanced approach through a mix of JV and direct acquisitions gives us the flexibility to grow sensibly and allocate capital towards future growth opportunities. Ultimately, we remain focused on building a strong, future-ready pipeline that enhances our property development profile and earnings visibility, while continuing to excel in our core construction business,' he added. — TMR
New Straits Times
01-07-2025
- Business
- New Straits Times
Kerjaya Prospek buys freehold land in Jalan Puchong for RM112.8mil
KUALA LUMPUR: Kerjaya Prospek Group Bhd is expanding its development footprint in the Klang Valley and Penang through a series of strategic land acquisitions and a joint venture (JV) that strengthens its pipeline of premium projects. The construction and property development group today announced plans to buy three parcels of freehold land covering three hectares in Jalan Puchong here for RM112.8 million. The acquisitions will be made via its wholly owned Senandung Raya Sdn Bhd. The plots, located in mature and accessible areas, are being acquired from Sunrise Bright City Sdn Bhd and Top Up Properties Sdn Bhd. "The proposed acquisitions will be financed through a mix of internally generated funds and/or bank borrowings. Completion of the transaction is expected by September 2025," Kerjaya Prospek said. In Penang, Kerjaya Prospek is entering into a joint venture with Aspen Vision Tanjung Sdn Bhd, a unit of Singapore-listed Aspen (Group) Holdings Ltd, to develop two parcels of freehold land in Tanjung Bungah. The JV will be undertaken via Tanjung Bungah Development Sdn Bhd, a special purpose vehicle in which Kerjaya Prospek Ventures Sdn Bhd holds a 60 per cent stake and Aspen Vision Tanjung the remaining 40 per cent. The land, measuring 1.8 hectares, carries a total consideration of RM117 million. "The proposed mixed-use development will feature residences, serviced apartments and retail units, with the gross development value yet to be finalised. Completion of the transaction is expected by December 2025," it added. Kerjaya Prospek chief executive officer and executive director Tee Eng Tiong said the company is strategic in choosing its investment locations. He added that both the Klang Valley and Penang are familiar markets with strong demand and significant development prospects. "Our balanced approach through a mix of JV and direct acquisitions gives us the flexibility to grow sensibly and allocate capital towards future growth opportunities. "Ultimately, we remain focused on building a strong, future-ready pipeline that enhances our property development profile and earnings visibility, while continuing to excel in our core construction business," Tee said.
The Sun
16-06-2025
- Business
- The Sun
Berjaya Land partners Sweden's SIBS to develop RM117m housing project in Nuuk, Greenland
KUALA LUMPUR: Berjaya Land Bhd (BLand) is venturing into a RM117 million gross development value residential project in Greenland, an autonomous territory in Denmark, part of the company's plan to expand internationally and bring its experience in building homes to new markets. Group CEO Syed Ali Shahul Hameed said BLand is preparing to submit the necessary drawings to the local authority in Greenland for official approval. 'We have already received pre-approval, which means a similar design has already been reviewed and agreed upon by the Municipality of Nuuk, Greenland's capital. 'With this positive response, we can now move ahead with developing a detailed building plan. I expect that by next summer, we will be ready to begin actual construction,' Syed Ali said during the signing of a memorandum of understanding with Sibs Sdn Bhd (SSB) yesterday. He said demand from the community for home purchases is very high, reflecting strong local interest and a clear need for new housing in Nuuk. To address this demand, BLand, through its wholly owned subsidiary Berjaya Greenland Invest A/S, has acquired land in Nuuk, aiming to provide high-quality residential apartments designed explicitly for Greenland's distinctive climate and infrastructure requirements. 'There is a shortage of available housing for residents in the area, so demand is high. 'Most of the time, as soon as we launch a project, the units sell out quickly. As for pricing, it is still a bit early for me to provide exact numbers, but generally speaking, costs are quite high, largely due to factors such as the cost of materials, including metal. 'However, I believe this is a strong investment opportunity overall,' Syed Ali said. BLand signed the MoU with SSB, a Sweden-based company with a manufacturing facility in Penang, a global leader in modular housing systems. This partnership aims to deliver efficient, climate-resilient homes through modular construction – a modern approach that enables faster deployment, cost savings and long-lasting quality. Currently, the housing project is still in the planning and design stages, but it is expected to launch soon. Besides making more homes available, the project will bring significant economic benefits, creating new jobs, involving local contractors, and supporting long-term city growth. 'Regarding the timeline for project implementation ... while we anticipate that the core construction phase can be completed within approximately one year, the logistics of transporting materials from Penang to Greenland may extend the overall schedule. 'We are committed to a thorough and efficient approach, ensuring that all aspects of the project are executed to the highest standards, despite the geographical and logistical challenges,' Syed Ali said when asked about the project's timeline. He said this project reflects BLand's broader vision of creating high-quality developments that are efficient, adaptable, and built with long-term impact in mind. 'Modular construction provides an innovative and timely approach, enabling us to deliver homes faster and more cost-effectively while supporting local capacity building.' SSB executive director Lawrence Chua Sue Lin said the company is developing a modular housing project, a relatively new concept for Malaysia. In this approach, homes are prefabricated in a factory, completed to a high standard and then transported to the intended site for assembly. This method is highly sustainable and environmentally friendly, as it significantly reduces reliance on manual labour, minimises construction waste, and shortens project timelines. While traditional high-rise construction can take up to three years, Chua said, modular housing can complete projects in less than a year, thanks to the company's current annual production capacity of up to 12,000 modules. 'However, in practice, a typical project might utilise around 6,000 modules. This innovative system not only accelerates delivery but also supports greener, more efficient urban development,' he added. With a particular focus on transforming Nuuk into a premier destination for recreation and ecotourism, Berjaya Greenland Invest aims to foster local economic growth, address critical housing needs, and create meaningful employment opportunities for the community.
Borneo Post
22-05-2025
- Politics
- Borneo Post
Rep urges immediate relocation of schools affected by floods, infrastructure upgrades in Tamin
Gira emphasises that schools regularly affected by floods must be moved to safer, more strategic locations. – Photo by Roystein Emmor KUCHING (May 22): Several schools in the Tamin constituency may need to be relocated due to frequent flooding, said its assemblyman Christopher Gira Sambang. He emphasised that schools regularly affected by floods must be moved to safer, more strategic locations, adding that education is the foundation of progress, and no child should have their learning disrupted due to environmental challenges. 'This requires immediate action in identifying suitable areas, allocating funds, and fast-tracking construction to guarantee uninterrupted education for our future generations. 'I am appealing to government to relocate the schools namely, SK Ng Selangau, SK Kua Selangau, SK Sg Buluh and SK Pelugau,' he said in his Motion of Appreciation to the Yang di-Pertua Negeri at the State Legislative Assembly (DUN) sitting today. Gira also called for the establishment of a Selangau District Education Office to better serve the needs of the local community. In addition to education-related matters, he outlined several key development priorities for the Tamin constituency. These included infrastructure upgrades, improved rural water and electricity supply, enhanced internet connectivity, and support for agriculture, housing, and youth development. On infrastructure, he requested that several gravel roads be upgraded to tar-sealed roads. These include Jalan Sapudun Balingian Selangau, Jalan Ng Sekuau to SK Pakoh Ulu Oya Selangau, Jalan Ulu Selangau, and Jalan SK Pakoh to Jalan Ulu Bunau Oya. On rural water supply, Gira appealed to the federal government to expedite the construction of the long-awaited Stapang/Sekuau water treatment plant, first announced in 2016 with an allocation of RM117 million. He also urged the swift implementation of the RM200 million upgrade for the Selangau Water Treatment Plant, including pipe installation to designated areas. Electricity supply remains inconsistent in some longhouses, with applications still pending under the Additional Late Applicant Fund (Alaf) programme. Gira called for faster approval and an upgrade from single-phase to two-phase power in areas where demand exceeds capacity. On digital connectivity, he pressed for all telecommunications towers built in Tamin to be made fully operational to help close the digital divide. For the agricultural sector, Gira urged the government to provide support to oil palm, coffee, and rubber farmers through subsidies, training programmes, and financial assistance. He also advocated for the speedy construction of the Selangau Mini Sports Complex and affordable housing projects in Selangau town to enhance community wellbeing. To spur local tourism and recreation, Gira proposed the development of eco-tourism and leisure spots in Ulu Oya, Ulu Mukah, and Ulu Selangau. In a bid to empower local talent and entrepreneurship, he called for the creation of a Craft Centre and SME Hub in Selangau to support artisans and small business owners. Gira also voiced concern over rising drug abuse and illegal online gambling, particularly among youth, urging authorities to implement effective preventive measures. Lastly, he highlighted the importance of completing the Survey of Native Customary Rights (NCR) land to safeguard indigenous ownership. He urged the government to allocate more resources to the Land and Survey Department to expedite outstanding surveys in Tamin. Christopher Gira Sambang DUN flood schools
Daily Express
20-05-2025
- Daily Express
Marine police foil bid to smuggle untaxed alcohol in school van
Published on: Tuesday, May 20, 2025 Published on: Tue, May 20, 2025 By: FMT Reporters Text Size: Marine police Region 1 commander Rusley Chi Ari said the man was caught as he was transferring the alcoholic beverages into the school van. (Facebook pic) PETALING JAYA: Port Klang marine police yesterday foiled a man's attempt to transport untaxed alcohol in a school van with the arrest of the suspect at Taman Sri Gadong. Marine police Region 1 commander Rusley Chi Ari said the 26-year-old suspect was apprehended in Klang as he was transferring the alcoholic beverages from a lorry into the van, Berita Harian reported. 'Upon inspection, officers discovered 56 boxes and 30 crates of various brands of liquor, believed to be untaxed, stored in the lorry and van. 'The seized items are estimated to be worth RM10,664.40, with unpaid duties amounting to RM36,889.57,' Rusley said in a statement today. He added that the vehicles involved, worth RM70,000, brought the total value of the seizure to RM117,553.97. Rusley said the suspect and seized items were taken to the Port Klang marine police headquarters for further action. Advertisement He said that during questioning, the suspect admitted to being involved in the distribution of untaxed alcohol in the Klang area. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
