WCT plans 2 new malls

High traffic: Gateway@KLIA2 is expected to break even within the next two to three years.

WHEN WCT Holdings Bhd opened its first mall – the Aeon Bukit Tinggi Shopping Mall – in Klang eight years ago, it was a start to a long-term plan to diversify into shopping mall ownership and management.

The company had built retail buildings including The Curve and Tesco Mutiara Damansara, Tesco Bukit Tinggi, Aeon Bukit Indah Johor and Aeon Malacca, so it was a natural progression for the construction outfit.

In the last three years, the group has, though its property arm WCT Land developed two more retail buildings – the Paradigm Mall in Petaling Jaya and Gateway@KLIA2, the integrated complex at the budget airlines airport.

A total of RM5bil had been allocated for its investment and development of this business arm.

It plans to build the Paradigm Johor Baru, a 1.3 million sq ft mall along Jalan Skudai.

Construction for Paradigm Johor Baru is underway and the mall will be launched next year,

This will be followed by Paradigm Kuala Lumpur, a mall with 1.5 million sq ft of net lettable area in Old Klang Road.

The project will entail development cost of RM700mil and would also comprise residential towers, offices, a hotel and perhaps an auditorium.

While plans for both malls have yet to be announced, WCT Malls Management general manager Vincent Chong tells StarBizWeek the offerings must be enticing to keep up with competitors.

Not far off from WCT’s upcoming mall in Kuala Lumpur, the Pavilion Holdings Group too is setting up a mall of about two million sq ft.

Battling the odds

With the upcoming addition of sizeable new malls such as Sunway Putra Mall in Kuala Lumpur, Sunway Velocity Mall in Cheras, IOI City Mall in Putrajaya, WCT has been fanning its advertising and promotional activities,

This year, WCT has been bringing in celebrities for meet-and-greet sessions by collaborating with Astro, Fox and Dreamworks.

Riding on the K-pop craze, it discovered, really draws in the crowd.

“By early morning, many teenagers were waiting with their mothers for tickets,” Chong says.

He admits Paradigm Petaling Jaya, which has a rental rate of RM7-8 per sq ft on its 680,000 net lettable area, has not experienced growth in terms of numbers since January.

“We must be realistic. For now, our focus is just to sustain business for our tenants. As such, we haven’t targeted growth for this mall this year,” Chong says.

Now that Paradigm has stabilised, WCT is ready to launch an office tower and hotel components, the latter, which will be managed by New World Millenium Hong Kong Hotel.

By next month, seven levels of office space at Paradigm Mall Petaling Jaya will be ready. WCT will occupy two levels, while negotiations with multi-level companies and a university to tenant the rest of the building by the third quarter of 2016 are underway.

The Paradigm mall needs an occupancy rate of 85% to be sustainable, while Pavilion Kuala Lumpur requires at least 80%.

Chong: ‘If another opportunity to build an airport mall comes up, we should be first in line to do it.

Managing an airport mall

WCT is expecting Gateway@KLIA2, its long-term concession with Malaysia Airports Holdings Bhd, to break even within the next two to three years.

For 2015, the airport complex’s annual gross revenue is expected to be RM105mil.

“Running an airport mall is different from managing one in the city,” Chong says.

Gateway has 120 retailers and they occupy 74% of the total net lettable area (NLA).

Food and beverage providers make up 30% of the tenancy mix, while the rest are providers of travel items, books and magazines, fashion apparel and accessories.

It has not been easy for WCT to find suitable tenants at the Gateway@KLIA2 mall in spite of the high traffic there, but Chong explains there are only 350,000 sq ft of NLA available as the mall is part of the airport and not a standalone retail building as is in some countries. “These numbers may not seem encouraging but bear in mind that KLIA2 was designed to cater to 45 million passengers. In that case, we shouldn’t expect 100% occupancy rate for now,” Chong said.

Gateway is currently only catering to about 25 million airport passengers and captures some three million footfalls per month.

Jaya Grocer, which initially caters to the 10,000 airport employees, is now providing convenience to foreign tourists and locals.

“We aren’t projecting a significant increase in occupancy and we have to be very careful about our tenancy mix. Another nasi lemak vendor would just cannibalise other existing food outlets,” Chong said. “For now, we need more fashion tenants.”

As passenger numbers are expected to grow to 28 million from 25 million this year, WCT will grow and expand Gateway in tandem with that.

“We work closely with tenants such as the RM1 day promotion, where meals and products are sold at RM1. We will probably do that again after our Raya promotions,” Chong says.

Overseas ventures?

For the first quarter ended March 31, the group’s property development and investment segments registered revenue of RM102mil and operational profit of RM32mil.

At the group level, net profit was RM33mil, 17.5% lower than RM40mil last year.

Revenue was RM352mil, 24.6% lower than RM467mil the year before due to the completion of several projects.

WCT said in a filing with Bursa Malaysia it expected contribution from the new projects to increase in the second half of the year.

It was reported that WCT was looking to venture into the Indonesian property market with a company there.

“To do that, we must really explore first. For now, we are comfortable in Malaysia and we have a unique product in Gateway. If another opportunity to build an airport mall comes up, we should be first in line to do it,” Chong says.

“If Indonesia asks, we would say yes.”

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From taxi driver to city builder

Big vision: Maha posing next to a miniature model of Greater Springfield, a development which he envisioned two decades ago. -Pic taken from Maha’s Facebook account.

PETALING JAYA: To the Aussies and even his own wife, he was “Mad Maha Sinnathamby” for wanting to build a city in Brisbane.

Two decades later, this Malaysian-born entrepreneur is one of the richest men in Australia for persisting with his vision of starting Greater Springfield, billed as one of Down Under’s fastest urban growth regions.

According to its website, it is also the only fully master planned city to be built in Australia other than Canberra.

Maha, who has been based in Brisbane since the 1970s, was back here earlier this week to attend a conference on real estate.

“They all used to laugh at me. I would go to meetings and said that I plan to build a city and they told me that I have gone mad!” he said, recalling the reaction of the Australian authorities when he first proposed the idea of Greater Springfield.

It has been 23 years since its inception and Greater Springfield is the main reason behind Maha’s multi-billion-dollar fortune.

The award-winning development is set to be twice the size of Sydney and will include educational institutions and facilities for healthcare, IT and recreation. It will accommodate 105,000 residents by 2030.

In an interview, Maha recounted a tough childhood in Rantau, Negri Sembilan, where he lived with no electricity, little running water and kerosene lamps to study at night.

“I’m a person who has struggled all the way but I think I am what I am because of the way I was brought up. You were told to survive, and I had to survive,” he said.

Maha took on various jobs like selling fruits, driving a taxi and repairing and selling second-hand cars.

Even his education was a stormy path and he failed several times before graduating in civil engineering from University of New South Wales. Despite having a degree, Maha said he was jobless for some time before he finally got a break in real estate.

“I became very rich but lost everything due to a technical fault. I was forced to start from the bottom again. But I never gave up,” he said, adding that he was motivated by his father, a hospital assistant, and his mother, whom he described as a “very, very determined” woman.

“I also try and keep myself around positive people because it reflects my energy.”

Maha, who has four children and nine grandchildren, said it was pointless for Malaysians to complain about everything.

Malaysia, he said, had tremendous potential and there should be a focus on education, training and retraining.

“Education is the only currency that you can cash in anywhere. No one can steal something inside your head.”

He added that the pool of readily available talent should be used.

Maha said his focus would remain on developing Greater Springfield and also giving back to society.

“I will not just give money away. It’s like giving crutches to someone who can walk. I think we should train them, teach them so that they can earn a living and live with dignity,” he said.

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More pre-qualification calls for Kwasa Damansara

PETALING JAYA: Property developer Kwasa Land Sdn Bhd has opened another round of pre-qualification to develop its 2,330-acre iconic Kwasa Damansara township.

The call seeks to pre-qualify three categories of developers for the township, which has a gross development value (GDV) of RM50bil, over the next 15 to 20 years.

This second invitation for pre-qualification is open to Tier-1 to Tier-3 companies.

Tier-1 companies have a paid-up capital of RM1bil and above, while Tier-2 companies have a paid-up capital of RM200mil and above.

Tier-3, meanwhile, are bumiputra companies with a paid-up capital of RM1mil and above.

Applicants should have an average three-year pre-tax profit of above RM100mil for Tier 1, RM50mil for Tier 2 and RM5mil for Tier 3.

They should also have generated from at least two development projects a GDV of RM1bil for Tier 1, RM250mil for Tier 2 and RM50mil for Tier 3.

This call comes after the first initial round held in September 2012.

The pre-qualification forms can be obtained from www.kwasaland.com.my. Closing date for all submissions is June 23, 2015.

Kwasa Damasara is a mixed development which will serve a target population of 150,000.

The upcoming township is surrounded by a matured Damansara suburb, served by four traversing highways, and in the future, two Mass Rapid Transit stations.

Following the inaugural pre-qualification, Kwasa Land has thus far called for four request for proposals (RFPs) from the pre-qualified.

The RFPs were for the main town centre development MX-1, the first residential development R2-1, the first bumiputra development R3-2 and recently, residential developments R3-3 and R3-4 also for the bumiputra category.

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US-based Paramit to develop RM60mil facility in Penang

BY DAVID TAN

Factory in the forest: an artist’s impression of Paramit’s proposed facility in Bukit Minyak. (Inset: Paramit Corporation Global CEO Billoo Rataul delivering his speech during the factory groundbreaking ceremony in Butterworth, Penang. – THE STAR/Asri Abdul Ghani June 01, 2015)

GEORGE TOWN: Paramit Corp, a US-based medical device manufacturer, is investing RM60mil for a new facility in Penang Science Park, Bukit Minyak.

Paramit Malaysia country manager Thomas La Rose said the new facility would serve as the its main manufacturing facility in Asia.

“Scheduled for completion in June 2016, this second facility of Paramit in Malaysia will position us for rapid growth and expansion to become one of the leading medical device and instrument manufacturer in the region,” he said at the ground breaking ceremony for the company’s new facility in Penang Science Park, Bukit Minyak.

La Rose said that the company decided to set up a new facility in Penang because its customers had indicated that they wanted to expand their medical device operations in Asia-Pacific.

In Malaysia, Paramit has been in operation from its manufacturing facility in the second phase of the Bayan Lepas Free Industrial Zone since 1988, producing electronic and electrical components, including medical device and instruments, for some of the largest and market leaders in the respective industries worldwide.

Outside Malaysia, Paramit has facilities in Morgan Hill, California.

Penang Chief Minister Lim Guan Eng, who officiated the event, said Paramit would grow its workforce in Penang to 800 from 500 now.

“This new facility is for developing some of the world’s most innovative products both in the medical device field and in other markets as well,” he added.

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Three hauled up over WCT insider trading

Posted on June 2, 2015  | 425 views |  Topic : Featured, Investment, Property News.

Legal case: The sC has brought WCT deputy MD, one of the founders and another individual to court.

PETALING JAYA: The Securities Commission (SC) has filed a suit against WCT Holdings Bhd’s deputy managing director (MD) Goh Ching Liong for alleged insider trading of the company’s shares in 2009.

Also charged with the similar offence are one of the company’s founders, Chan Soon Huat, and one Leong Ah Chai.

The SC is claiming a civil penalty of RM1mil from each of the defendants. It is also seeking to bar the defendants from being directors of a public listed company.

According to a statement by the SC, the three individuals were charged in the KL High Court recently. The suits against Goh and Leong was filed on May 26.

The action against Chan was filed on May 27 for breach of the Capital Markets and Services Act 2007.

The SC alleged that the non-public information referred to the cancellation of a contract for the proposed construction of the “Nad Al Sheba Dubai Racecourse” in the Emirate of Dubai, United Arab Emirates.

The contract was then awarded to a joint-venture company set up by WCT and one Arabtec Construction L.L.C.

“The announcement relating to the material information was only made on Jan 6, 2009,” the statement said.

“Chan was in (breach) as he disposed 2.41 million shares and 1.24 million warrants in WCT between Dec 30, 2008 and Jan 5, 2009 while in possession of material non-public information,” the statement added.

The statement said that Chan was believed to have disposed of the WCT shares and warrants through his own account and also the account of his daughter and his son-in-law.

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Breathing life into ordinary spaces

Having a balanced and wholesome lifestyle amidst Mother Nature’s embrace and cleverly designed outdoor architecture is what IJM Land Bhd has set out to achieve.

BY MANGALESRI CHANDRASEKARAN
mangalesri@ocision.com

The enchanted view of the spice and flower garden as well as The ARC.

IJM Land Bhd’s premier iconic township development, Bandar Rimbayu, is a fine example of balanced living within a green neighbourhood. Sprawled across 760ha, this township grants harmonious living within a placid setting, complemented by water features and natural greenery.

Being Malaysia’s largest green development with a spectacular landscape, Bandar Rimbayu won the Malaysia Landscape Architecture Awards (MLAA) 2014 for excellence in Landscape Design – the most prestigious award under the professional category given by the Institute of Landscape Architects Malaysia (ILAM).

“On par with IJM Land’s eco-friendly ethos, more emphasis was given on the natural resources with the implementation of green features such as energy efficiency, rainwater harvesting and adaptation of recycling, providing a healthier environment for the residents,” says Bandar Rimbayu Sdn Bhd chief operating officer Shuy Eng Leong.

(From left) Dingal, Shuy and Tang, posing in front of The ARC, the icon of Bandar Rimbayu.

He adds that the elegant landscape further complements the township, bringing IJM Land’s green vision to life.

Adding to the uniqueness is The ARC, a facilities podium blessed with abundant space, designed to host communal and recreational happenings, and even carnivals. Being the centre of gravity for all the developments under Bandar Rimbayu, The ARC boasts a green canopy with a 360 degree panoramic view of the fully integrated township.

Included in the awe-inspiring landscape are a myriad of facilities consisting of a tranquil creek with a timber deck overlooking the breathtaking spice and flower garden; wondrous creepers dangling from the green canopy giving the illusion of a hanging garden; open terraces further enhanced by water features; wooden pedestrian bridge with seatings to cherish the serene environment; a vast football field coupled with an upscale playground and green wall system.

Besides being the perfect place to be at during the day time, The ARC is also quite impressive at night as the place is surrounded by ample lights, providing an alluring atmosphere which will create a lasting impression on the visitors.

Serene night view of the pedestrian bridge leading to the spice and flower garden.

“Not only is The ARC unique on its own, it’s a pioneer design in Malaysia,” says Pentago Landscape Sdn Bhd associate director Alan Dingal, when speaking of its distinguished feature being the only kind in our country.

Situated merely minutes away from the Shah Alam City Centre, the landscape of Bandar Rimbayu, without a doubt, will awaken all our senses, giving a relaxed-cum-stress-free environment for the residents. The overall features of the landscape and The ARC are taken into proper consideration to provide a holistic environment, he further states.

Garis Architects director Tang Hsiao Seak says that the reason for Bandar Rimbayu’s success is primarily due to the uniqueness that this township offers, in terms of the designs and technologies it incorporates. The landscape is carefully designed to maximise the potential as well as offer special advantages, and would be extended later on for added conveniences, he adds.

Secured timber bridge over the creek leading to the viewing tower.

Being the heart of Bandar Rimbayu, The ARC will connect the commercial and residential belts in the future.

Bandar Rimbayu’s captivating award-winning landscape, specifically The ARC, incorporated the concept of “Embracing life within nature” and will always remain as the icon of IJM Land for its exceptional architecture and landscape designs for the green township. As a pioneer in the property industry, the developer strives to provide a positive impact in all its developments, providing spectacular landscapes that give a lasting impression.

Spectacular setting as seen from the green canopy.

Bringing a green vision to life

Bandar Rimbayu, the holistic green township, is co-joined with the mature vicinity of Kota Kemuning, providing excellent connectivity and amenities right at the doorstep. Abundant space are allocated for greenery alone as IJM Land’s main motive is to provide quality homes close to nature. Main emphasis is given to the going green initiatives and Crime Prevention Through Environmental Design (CPTED) which are incorporated into Bandar Rimbayu. Most homes are pre-installed with a solar panel heater system, rainwater harvesting system and skylights to reduce the consumption of water and electricity, so as to create awareness for the future generation to appreciate nature.

This eco-friendly neighbourhood by IJM Land will be developed as a fully integrated township in the upcoming years, with outstanding connectivity, coupled with schools, hospitals, mall and retails within.

The welcoming entrance of The ARC @ Bandar Rimbayu.

Bandar Rimbayu will be connected to five major highways in the next five years, linking to the Shah Alam Expressway (KESAS), Shah Alam – Kota Kemuning Expressway (LKSA), South Klang Valley Expressway (SKVE), proposed West Coast Expressway (WCE) as well as the North - South Expressway Central Link (Elite) which connects to Federal Highway and the New Klang Valley Expressway (NKVE).

Located in the high-end vicinity of Shah Alam, Bandar Rimbayu is expected to be the next most anticipated development due to the exceptional reputation of IJM Land, as well as the well-organised masterplan that this comprehensive township offers.

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Enchanted waterfront living

A perfect tranquil awaits in Puchong, away from the hustle and bustle of hectic city life.

An artist’s impression of the development of Lake Side City, a picturesque township located next to the largest lake in Puchong.

AURORA Residence is the first residential tower within the development of Lake Side City, a self-sustaining lakeside waterfront mixed-development township in the heart of Puchong.

Developed by Permodalan Masteron Sdn Bhd, a member of the Masteron Group of Companies, the first phase of Aurora Residence is slated for completion in 2017.

The group aims to provide idyllic living with its gated integrated development alongside a well-known lake in the vicinity of Puchong, which is the breathtaking Prima Lake (Tasik Prima). Residents will wake up to a peaceful scenic lake and enjoy being surrounded by captivating nature.

“The green environment and the renowned blue lake offer a tranquil zone for city dwellers who appreciate the beauty of nature amidst their residential area,” says Masteron sales and marketing group manager Liew Li Ping.

Overall, Aurora Residence has four blocks of luxury condominiums that offer the same layout of three bedrooms and two bathrooms, but with different built-up areas ranging between 1,141 sq ft and 1,238 sq ft.

The second phase of the condominium will see a special addition. Units that sit on Level Five, which are on the same level of the facilities, will have the rare privilege to enjoy a villa-like feature, as each one comes with its own private terrace garden measuring from 320 sq ft to 950 sq ft overlooking the lush greenery and the pools.

“Every inch of Aurora Residence is perfectly designed with substantial settings and modern approaches. Standing high on Lake Side City, Aurora Residence will offer a different atmosphere for its residents. Proud homeowners will be able to witness beautiful sunrises and sunsets without having to leave their comfortable abodes,” says Ping.

A scenic view from the infinity pool at Aurora Residence.

The design scheme of Aurora Residence places great emphasis on the relationship of the surrounding natural landscape of the lake while bringing greenery and recreational features into the heart of the development.

Landscaped garden in the sky Residents at Aurora Residence can enjoy a lush tropical landscape experience with distinct facilities available at the high-rise residence. Residents are able to lead a healthy yet contented lifestyle with an immense 3.9 acres of an open garden facility podium, 1 km span of jogging track as well as several hanging gardens located at various higher levels.

The podium facilities at Level Five comprise an integrated green area with an infinity pool surrounded by seamless green landscape and also recreational sports arenas such as a gymnasium, tennis courts and squash courts, just to name a few.

This ensures optimum harmony, comfort and perfect balance between human and nature for conducive modern day living.

The 1km stretch jogging track at Aurora Residence.

The connectivity surrounding Aurora Residence is brilliant as there are existing highways such as Lebuhraya Damansara-Puchong (LDP), Konsortium Expressway Shah Alam Selangor (Kesas), Ekspresway Lingkaran Tengah (Elite) and South Klang Valley Expressway (SKVE), which are accessible within minutes.

Furthermore, there is an ongoing construction of the light rail transit (LRT) system extension connecting Puchong to Kelana Jaya and Sri Petaling, to be completed and fully operational concurrent with Aurora’s Phase 1 completion.

In collaboration with Prasarana Malaysia Bhd, the group is working with various authorities to obtain approval for the proposed covered pedestrian walk-way from Lake Side City to Station 11 Puchong Prima. The infrastructure is definitely a privilege to future Aurora’s residents.

Integrated waterfront township

Living up to its name, Lake Side City is a fully integrated waterfront township sprawled across 155 acres by the scenic Prima Lake. It is a mixed development that sets a new standard of living and is projected to be a self-sustaining waterfront township that will appeal to those who are looking for a sensuous city life in the midst of nature.

In order to ensure a balanced development within Lake Side City, the group conceptualised the waterfront city according to this principle called “SPACE”, which stands for Sustainability, Parks, Attraction, Commercial and Education.

As a part of the new living concept, Lake Side City will be an all-in-one township that offers a sustainable living supported by convenient infrastructures as well as numerous amenities that are all within reach.

An artist’s impression of a fully-equipped gymnasium at the podium facilities of Aurora Residence.

Besides offering an idyllic lifestyle that blends well with nature, this self-sustaining development provides convenience alongside a myriad of surrounding amenities, thanks to the rapid development that is currently happening in Puchong.

The group is looking to enhance the development of Lake Side City with more serviced apartments, high-end condominiums, landed properties, a commercial precinct, shopping outlets, retail shops and F&B al fresco dining fronting the lake. There will also be public amenities such as a school and centralised green lung complete with sports and recreational facilities for the young residents.

Living in Aurora Residence will be the perfect opportunity for any homebuyers who are looking to be part of a vibrant hub enveloped by tranquil ambiance and natural landscapes.

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