CIMBA40 - CIMB FTSE ASEAN 40 Malaysia - IOPV after close of morning trading session as at 17-Jan-11
Announcement Type: General Announcement
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE ASEAN 40 MALAYSIA
Stock Name: CIMBA40
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: CIMB FTSE ASEAN 40 Malaysia - IOPV after close of morning trading session as at 17-Jan-11
Contents: Fund: CIMB FTSE ASEAN 40 Malaysia
IOPV per unit (RM): 1.5561
Units in circulation (units): 8,100,000.00
Management Fee (% p.a.): 0.00
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.00
FTSE/ASEAN 40 Index: 10,324.96
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE ASEAN 40 MALAYSIA
Stock Name: CIMBA40
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: CIMB FTSE ASEAN 40 Malaysia - IOPV after close of morning trading session as at 17-Jan-11
Contents: Fund: CIMB FTSE ASEAN 40 Malaysia
IOPV per unit (RM): 1.5561
Units in circulation (units): 8,100,000.00
Management Fee (% p.a.): 0.00
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.00
FTSE/ASEAN 40 Index: 10,324.96
CIMBC25 - CIMB FTSE China 25 - IOPV after close of morning trading session as at 17-Jan-11
Announcement Type: General Announcement
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE CHINA 25
Stock Name: CIMBC25
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: CIMB FTSE China 25 - IOPV after close of morning trading session as at 17-Jan-11
Contents: Fund: CIMB FTSE China 25
IOPV per unit (RM): 1.0508
Units in circulation (units): 19,500,000.00
Management Fee (% p.a.): 0.60
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.04
FTSE/Xinhua China 25 Index: 19,569.88
Submitting Merchant Bank: DEUTSCHE BANK (MALAYSIA) BERHAD
Company Name: CIMB FTSE CHINA 25
Stock Name: CIMBC25
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: CIMB FTSE China 25 - IOPV after close of morning trading session as at 17-Jan-11
Contents: Fund: CIMB FTSE China 25
IOPV per unit (RM): 1.0508
Units in circulation (units): 19,500,000.00
Management Fee (% p.a.): 0.60
Trustee Fee (% p.a.): 0.08
Index Licence Fee (% p.a.): 0.04
FTSE/Xinhua China 25 Index: 19,569.88
BSTEAD - General Announcement
Announcement Type: General Announcement
Company Name: BOUSTEAD HOLDINGS BERHAD
Stock Name: BSTEAD
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: Dealings by Principal Officer of Boustead Holdings Berhad ("Company") outside closed period pursuant to Paragraph 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Contents: Pursuant to Paragraph 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the following Principal Officer has transacted dealings in the securities of the Company as set out in Table 1 hereunder.
Company Name: BOUSTEAD HOLDINGS BERHAD
Stock Name: BSTEAD
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: Dealings by Principal Officer of Boustead Holdings Berhad ("Company") outside closed period pursuant to Paragraph 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Contents: Pursuant to Paragraph 14.09(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the following Principal Officer has transacted dealings in the securities of the Company as set out in Table 1 hereunder.
AXREIT - General Announcement
Announcement Type: General Announcement
Submitting Merchant Bank: -
Company Name: AXIS REAL ESTATE INVESTMENT TRUST
Stock Name: AXREIT
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: PROPOSED DISPOSAL BY AXIS REAL ESTATE INVESTMENT TRUST ("Axis-REIT" OR THE "FUND") TO FREIGHT MANAGEMENT (M) SDN BHD (THE "PURCHASER") OF AN INDUSTRIAL PROPERTY BUILT ON LEASEHOLD LAND HELD UNDER H.S(D) 116367 FOR PT 183 IN THE BANDAR SULTAN SULAIMAN, DISTRICT KLANG, SELANGOR DARUL EHSAN ("AXIS NORTH PORT LC1") FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM14.50 MILLION ("PROPOSED DISPOSAL OF AXIS NORTH PORT LC1")
Contents: The Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, wishes to announce that OSK Trustees Berhad, the trustee for Axis-REIT, has entered into a sale and purchase agreement dated 17 January 2011 in relation to the Proposed Disposal of Axis North Port LC1 on behalf of Axis-REIT.
Please refer to the attachment below for the details of the announcement.
Attachments: Disposal of Axis NPLC1.pdf
Submitting Merchant Bank: -
Company Name: AXIS REAL ESTATE INVESTMENT TRUST
Stock Name: AXREIT
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: PROPOSED DISPOSAL BY AXIS REAL ESTATE INVESTMENT TRUST ("Axis-REIT" OR THE "FUND") TO FREIGHT MANAGEMENT (M) SDN BHD (THE "PURCHASER") OF AN INDUSTRIAL PROPERTY BUILT ON LEASEHOLD LAND HELD UNDER H.S(D) 116367 FOR PT 183 IN THE BANDAR SULTAN SULAIMAN, DISTRICT KLANG, SELANGOR DARUL EHSAN ("AXIS NORTH PORT LC1") FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM14.50 MILLION ("PROPOSED DISPOSAL OF AXIS NORTH PORT LC1")
Contents: The Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, wishes to announce that OSK Trustees Berhad, the trustee for Axis-REIT, has entered into a sale and purchase agreement dated 17 January 2011 in relation to the Proposed Disposal of Axis North Port LC1 on behalf of Axis-REIT.
Please refer to the attachment below for the details of the announcement.
Attachments: Disposal of Axis NPLC1.pdf
P&O - DEALINGS BY PRINCIPAL OFFICER OF MAJOR SUBSIDIARY
Announcement Type: General Announcement
Company Name: PACIFIC & ORIENT BERHAD
Stock Name: P&O
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: DEALINGS BY PRINCIPAL OFFICER OF MAJOR SUBSIDIARY
Contents: In compliance with paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Pacific & Orient Berhad ("P&O") wishes to announce that the principal officer of its major subsidiary, Mr. Ong Eng Soon, have transacted in the shares of P&O as set out in the table below:
Company Name: PACIFIC & ORIENT BERHAD
Stock Name: P&O
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: DEALINGS BY PRINCIPAL OFFICER OF MAJOR SUBSIDIARY
Contents: In compliance with paragraph 14.09 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, Pacific & Orient Berhad ("P&O") wishes to announce that the principal officer of its major subsidiary, Mr. Ong Eng Soon, have transacted in the shares of P&O as set out in the table below:
LITRAK - LITRAK-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Announcement Type: Listing Circular
Company Name: LINGKARAN TRANS KOTA HOLDINGS BERHAD
Stock Name: LITRAK
Date Announced: 17/01/2011
Announcement Detail:
Subject: LITRAK-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Contents: Kindly be advised that the abovementioned Company's additional 85,000 new ordinary shares of RM0.20 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 19 January 2011
Company Name: LINGKARAN TRANS KOTA HOLDINGS BERHAD
Stock Name: LITRAK
Date Announced: 17/01/2011
Announcement Detail:
Subject: LITRAK-EMPLOYEES' SHARE OPTION SCHEME ("SCHEME")
Contents: Kindly be advised that the abovementioned Company's additional 85,000 new ordinary shares of RM0.20 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 19 January 2011
YTLPOWR - YTLPOWR-EXERCISE OF 300 WARRANTS 2008/2018 ("EXERCISE")
Announcement Type: Listing Circular
Company Name: YTL POWER INTERNATIONAL BHD
Stock Name: YTLPOWR
Date Announced: 17/01/2011
Announcement Detail:
Subject: YTLPOWR-EXERCISE OF 300 WARRANTS 2008/2018 ("EXERCISE")
Contents: Kindly be advised that the abovementioned Company's additional 300 new ordinary shares of RM0.50 each arising from the aforesaid Exercise will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 19 January 2011.
Company Name: YTL POWER INTERNATIONAL BHD
Stock Name: YTLPOWR
Date Announced: 17/01/2011
Announcement Detail:
Subject: YTLPOWR-EXERCISE OF 300 WARRANTS 2008/2018 ("EXERCISE")
Contents: Kindly be advised that the abovementioned Company's additional 300 new ordinary shares of RM0.50 each arising from the aforesaid Exercise will be granted listing and quotation with effect from 9.00 a.m., Wednesday, 19 January 2011.
UKB - General Announcement
Announcement Type: General Announcement
Company Name: UNITED KOTAK BERHAD
Stock Name: UKB
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: United Kotak Berhad ("UKB" or "the Company")
Compulsory Acquisition of the remaining voting shares of RM1.00 each in UKB which are not already held by Oji Paper Asia Sdn Bhd ("OPA") in accordance with Section 222 of the Capital Markets and Services Act, 2007 ("CMSA")
Contents: The Board of Directors of UKB hereby announces that the Company has on 14 January 2011, received a letter from OPA informing the Company that OPA has on 14 January 2011, posted a notice as prescribed by the Malaysian Code on Take-Overs and Mergers, 2010, to shareholders of UKB who did not accept the Offer, stating its intention to compulsorily acquire any remaining voting shares of RM1.00 each in UKB for which valid acceptances have not been received, on the same terms of the take-over offer which has closed on 31 December 2010.
This announcement is dated 17 January 2011.
Company Name: UNITED KOTAK BERHAD
Stock Name: UKB
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: United Kotak Berhad ("UKB" or "the Company")
Compulsory Acquisition of the remaining voting shares of RM1.00 each in UKB which are not already held by Oji Paper Asia Sdn Bhd ("OPA") in accordance with Section 222 of the Capital Markets and Services Act, 2007 ("CMSA")
Contents: The Board of Directors of UKB hereby announces that the Company has on 14 January 2011, received a letter from OPA informing the Company that OPA has on 14 January 2011, posted a notice as prescribed by the Malaysian Code on Take-Overs and Mergers, 2010, to shareholders of UKB who did not accept the Offer, stating its intention to compulsorily acquire any remaining voting shares of RM1.00 each in UKB for which valid acceptances have not been received, on the same terms of the take-over offer which has closed on 31 December 2010.
This announcement is dated 17 January 2011.
SPSETIA - General Announcement
Announcement Type: General Announcement
Company Name: S P SETIA BERHAD
Stock Name: SPSETIA
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: S P SETIA BERHAD ("S P SETIA" OR THE "COMPANY")
PROPOSED DEVELOPMENT OF AN INTEGRATED 1NIH COMPLEX ON APPROXIMATELY 55.33 ACRES OF LAND AT SETIA ALAM BY WAY OF LAND SWAP FOR APPROXIMATELY 40.22 ACRES OF GOVERNMENT LAND LOCATED ALONG JALAN BANGSAR, WILAYAH PERSEKUTUAN KUALA LUMPUR
Contents: 1. INTRODUCTION
Reference is made to the article on page 29 of The Edge Malaysia's weekly edition (17-23 January 2011) entitled "S P Setia secures prime landbank".
In relation to the article, the Board of Directors of S P Setia ("Board") would like to clarify the following:
? a letter was issued on 24 September 2010 by the Unit Kerjasama Awam Swasta ("UKAS"), namely the Public Private Partnership Unit in the Prime Minister's Department informing the Company of the approval-in-principle granted by the Federal Government of Malaysia ("Government") for Sentosa Jitra Sdn Bhd ("SJSB"), a 50% associate company of S P Setia, to enter into negotiations with UKAS and the Ministry of Health, Malaysia ("MOH") (SJSB, UKAS and MOH shall be collectively referred to as the "Parties") over terms for the proposed development of a new integrated health and research complex for the MOH to be located on approximately 55.33 acres of land at Setia Alam by way of land swap for the Government land measuring 40.22 acres located along Jalan Bangsar, Wilayah Persekutuan, Kuala Lumpur ("Proposal").
? The Government's approval-in-principle to the Proposal submitted by SJSB is subject to terms and conditions to be agreed between the Parties and the execution of a formal agreement pertaining thereto.
? SJSB has finalized its design and costing for the new complex based on the MOH's Brief of Requirements and is now ready to commence negotiations with UKAS and MOH based on the Proposal submitted to the Government.
2. STRUCTURE OF THE PROPOSAL
In exchange for the Government land measuring approximately 40.22 acres located along Jalan Bangsar ("MOH Land") SJSB proposes to undertake the following:
? Acquire approximately 55.33 acres of land located in Setia Alam ("BSA Land") from Bandar Setia Alam Sdn Bhd ("BSA"), a wholly owned subsidiary of S P Setia Berhad
? Develop a fully integrated health and research complex to be known as the 1NIH Complex on the BSA Land to relocate the various National Health Institutes ("NIH") and relevant supporting offices / research centres under the MOH's purview which are currently situated on the MOH Land and in various parts of Kuala Lumpur
? Redevelop the MOH Land into an integrated mixed residential and commercial project and provide the MOH / Government with a 20% share of the net profits from the redevelopment
3. INFORMATION ON THE PARTIES
3.1 Information on SJSB
SJSB was incorporated in Malaysia on 11 February 2000 as a private limited company. The present authorized share capital is RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which 4 shares have been issued and fully paid up. SJSB is currently dormant.
3.2 Information on MOH
The MOH is a ministry which is established under the Federal Government of Malaysia.
4. INFORMATION ON THE MOH LAND
The MOH Land is situated 3km southwest of Kuala Lumpur City Centre and is located strategically along Jalan Bangsar. It enjoys direct frontage onto Jalan Bangsar and is accessible from the Kuala Lumpur City Centre by Jalan Parlimen and Lebuhraya Mahameru. Alternatively, it may also be approached from the Federal Highway via Jalan Tun Sambanthan and thereafter Jalan Travers.
5 agencies of the National Institute of Health ("NIH"), which the MOH is responsible for, are currently situated on the Land, namely the NIH Secretariat, Institute of Health Management, Institute of Public Health, Institute of Health System Research and the Institute for Health Behavioural Research.
Please refer to the attached map for location details of the MOH Land.
5. INFORMATION ON THE BSA LAND
The BSA Land is located within Precinct 9 of the Group's fast-growing Setia Alam flagship project, immediately to the west of the 158-acre Setia City (Precinct 1) commercial precinct with Persiaran Setia Alam which links Jalan Meru to the New Klang Valley Expressway (NKVE) on its southern boundary.
The Tesco Hypermarket, Setia Avenue shop offices and Eramas shop offices developed by BSA are located a short drive away in the south-westerly direction of the land. Earthworks have been completed however there are no buildings presently within the BSA Land.
Please refer to the attached map for location details of the BSA Land.
6. RATIONALE FOR THE PROPOSAL
The Proposal, details of which are presently being negotiated between SJSB, MOH and UKAS, was mooted by SJSB to the Government along the lines of the Public / Private Partnership ("PPP") concept with the following benefits to the Parties:
Benefits to the MOH / Government
It enables the MOH to reap the value of matured Government land to obtain a fully integrated and modern new 1NIH Complex capable of housing all the relevant national health and research institutes and support functions in a single location within the vibrant, fast-growing and highly accessible township of Setia Alam.
The proposed new 1NIH Complex will serve as a hub and centre of excellence for health research, training and consultation at both the local and global level. This function will be be carried out by 6 key Research Institutes, the Office of the NIH Director, and various supporting offices / centres.
The land swap nature of the deal means that the MOH / Government will not have to fund any part of the cost for the construction of the new 1NIH Complex. This will be paid for by the difference between the current market values of the MOH Land and the BSA Land.
The MOH / Government will also have the opportunity to participate in the redevelopment of the MOH Land through its share of 20% of the net profits from the development.
Benefits to S P Setia
S P Setia has consistently been recognised as the leading property developer in Malaysia, winning the No 1 spot at The Edge Malaysia's Top Property Developers Awards 5 times since the inception of the award, the only developer to have achieved this feat. The Government's decision to entrust the redevelopment of the MOH Land to SJSB, an associate company of S P Setia, along with the choice of Setia Alam as the site of the MOH's new 1NIH Complex, is further affirmation of the Group's standing as the top Malaysian developer.
In just a few short years, both Setia Alam and Setia Eco Park have been successfully developed by S P Setia into much sought after addresses by home and business owners alike. The presence of the 1NIH Complex once completed will further add to the business, academic and commercial vibrancy of both townships in line with the Group's development philosophy of LiveLearnWorkPlay.
Apart from township development, the Group has also made significant inroads into the integrated residential and commercial space with its successful Setia Walk and Sky Residences projects and more recently, the soon to be launched KL Eco City development opposite Mid Valley.
SJSB has commenced master planning the redevelopment of the MOH Land. Its superb location provides a rare opportunity for S P Setia to further showcase its skills in developing luxury residential and integrated commercial products within the affluent Bangsar and Federal Hill areas.
7. FURTHER DETAILS
Further details will be disclosed after definitive and conclusive terms have been agreed upon, and a development agreement entered into by the Parties.
This announcement is dated 17 January 2011.
Attachments: MOH-Final.pdf
Company Name: S P SETIA BERHAD
Stock Name: SPSETIA
Date Announced: 17/01/2011
Announcement Detail:
Type: Announcement
Subject: S P SETIA BERHAD ("S P SETIA" OR THE "COMPANY")
PROPOSED DEVELOPMENT OF AN INTEGRATED 1NIH COMPLEX ON APPROXIMATELY 55.33 ACRES OF LAND AT SETIA ALAM BY WAY OF LAND SWAP FOR APPROXIMATELY 40.22 ACRES OF GOVERNMENT LAND LOCATED ALONG JALAN BANGSAR, WILAYAH PERSEKUTUAN KUALA LUMPUR
Contents: 1. INTRODUCTION
Reference is made to the article on page 29 of The Edge Malaysia's weekly edition (17-23 January 2011) entitled "S P Setia secures prime landbank".
In relation to the article, the Board of Directors of S P Setia ("Board") would like to clarify the following:
? a letter was issued on 24 September 2010 by the Unit Kerjasama Awam Swasta ("UKAS"), namely the Public Private Partnership Unit in the Prime Minister's Department informing the Company of the approval-in-principle granted by the Federal Government of Malaysia ("Government") for Sentosa Jitra Sdn Bhd ("SJSB"), a 50% associate company of S P Setia, to enter into negotiations with UKAS and the Ministry of Health, Malaysia ("MOH") (SJSB, UKAS and MOH shall be collectively referred to as the "Parties") over terms for the proposed development of a new integrated health and research complex for the MOH to be located on approximately 55.33 acres of land at Setia Alam by way of land swap for the Government land measuring 40.22 acres located along Jalan Bangsar, Wilayah Persekutuan, Kuala Lumpur ("Proposal").
? The Government's approval-in-principle to the Proposal submitted by SJSB is subject to terms and conditions to be agreed between the Parties and the execution of a formal agreement pertaining thereto.
? SJSB has finalized its design and costing for the new complex based on the MOH's Brief of Requirements and is now ready to commence negotiations with UKAS and MOH based on the Proposal submitted to the Government.
2. STRUCTURE OF THE PROPOSAL
In exchange for the Government land measuring approximately 40.22 acres located along Jalan Bangsar ("MOH Land") SJSB proposes to undertake the following:
? Acquire approximately 55.33 acres of land located in Setia Alam ("BSA Land") from Bandar Setia Alam Sdn Bhd ("BSA"), a wholly owned subsidiary of S P Setia Berhad
? Develop a fully integrated health and research complex to be known as the 1NIH Complex on the BSA Land to relocate the various National Health Institutes ("NIH") and relevant supporting offices / research centres under the MOH's purview which are currently situated on the MOH Land and in various parts of Kuala Lumpur
? Redevelop the MOH Land into an integrated mixed residential and commercial project and provide the MOH / Government with a 20% share of the net profits from the redevelopment
3. INFORMATION ON THE PARTIES
3.1 Information on SJSB
SJSB was incorporated in Malaysia on 11 February 2000 as a private limited company. The present authorized share capital is RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which 4 shares have been issued and fully paid up. SJSB is currently dormant.
3.2 Information on MOH
The MOH is a ministry which is established under the Federal Government of Malaysia.
4. INFORMATION ON THE MOH LAND
The MOH Land is situated 3km southwest of Kuala Lumpur City Centre and is located strategically along Jalan Bangsar. It enjoys direct frontage onto Jalan Bangsar and is accessible from the Kuala Lumpur City Centre by Jalan Parlimen and Lebuhraya Mahameru. Alternatively, it may also be approached from the Federal Highway via Jalan Tun Sambanthan and thereafter Jalan Travers.
5 agencies of the National Institute of Health ("NIH"), which the MOH is responsible for, are currently situated on the Land, namely the NIH Secretariat, Institute of Health Management, Institute of Public Health, Institute of Health System Research and the Institute for Health Behavioural Research.
Please refer to the attached map for location details of the MOH Land.
5. INFORMATION ON THE BSA LAND
The BSA Land is located within Precinct 9 of the Group's fast-growing Setia Alam flagship project, immediately to the west of the 158-acre Setia City (Precinct 1) commercial precinct with Persiaran Setia Alam which links Jalan Meru to the New Klang Valley Expressway (NKVE) on its southern boundary.
The Tesco Hypermarket, Setia Avenue shop offices and Eramas shop offices developed by BSA are located a short drive away in the south-westerly direction of the land. Earthworks have been completed however there are no buildings presently within the BSA Land.
Please refer to the attached map for location details of the BSA Land.
6. RATIONALE FOR THE PROPOSAL
The Proposal, details of which are presently being negotiated between SJSB, MOH and UKAS, was mooted by SJSB to the Government along the lines of the Public / Private Partnership ("PPP") concept with the following benefits to the Parties:
Benefits to the MOH / Government
It enables the MOH to reap the value of matured Government land to obtain a fully integrated and modern new 1NIH Complex capable of housing all the relevant national health and research institutes and support functions in a single location within the vibrant, fast-growing and highly accessible township of Setia Alam.
The proposed new 1NIH Complex will serve as a hub and centre of excellence for health research, training and consultation at both the local and global level. This function will be be carried out by 6 key Research Institutes, the Office of the NIH Director, and various supporting offices / centres.
The land swap nature of the deal means that the MOH / Government will not have to fund any part of the cost for the construction of the new 1NIH Complex. This will be paid for by the difference between the current market values of the MOH Land and the BSA Land.
The MOH / Government will also have the opportunity to participate in the redevelopment of the MOH Land through its share of 20% of the net profits from the development.
Benefits to S P Setia
S P Setia has consistently been recognised as the leading property developer in Malaysia, winning the No 1 spot at The Edge Malaysia's Top Property Developers Awards 5 times since the inception of the award, the only developer to have achieved this feat. The Government's decision to entrust the redevelopment of the MOH Land to SJSB, an associate company of S P Setia, along with the choice of Setia Alam as the site of the MOH's new 1NIH Complex, is further affirmation of the Group's standing as the top Malaysian developer.
In just a few short years, both Setia Alam and Setia Eco Park have been successfully developed by S P Setia into much sought after addresses by home and business owners alike. The presence of the 1NIH Complex once completed will further add to the business, academic and commercial vibrancy of both townships in line with the Group's development philosophy of LiveLearnWorkPlay.
Apart from township development, the Group has also made significant inroads into the integrated residential and commercial space with its successful Setia Walk and Sky Residences projects and more recently, the soon to be launched KL Eco City development opposite Mid Valley.
SJSB has commenced master planning the redevelopment of the MOH Land. Its superb location provides a rare opportunity for S P Setia to further showcase its skills in developing luxury residential and integrated commercial products within the affluent Bangsar and Federal Hill areas.
7. FURTHER DETAILS
Further details will be disclosed after definitive and conclusive terms have been agreed upon, and a development agreement entered into by the Parties.
This announcement is dated 17 January 2011.
Attachments: MOH-Final.pdf
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