MK Land rethinks sales strategy

MK Land Holdings Bhd will improve sales efforts and venture for the first time into landed property in the Klang Valley to strengthen the group’s profitability, its executive director Datuk P Kasi said.

On Wednesday, the property developer announced a lower net profit of RM15.22 million for its first quarter ended Sept 30, 2005, compared with RM20.8 million a year ago, while revenue fell 35.36% to RM114.71 million from RM177.73 million previously.

For the financial year ended June 30, 2005 (FY05), MK Land posted a net profit of RM120.21 million, 25.6% lower than the RM161.57 million a year ago. Revenue slid 2.23% to RM904.99 million from RM925.67 million.

Speaking to reporters following the company’s AGM and EGM in Shah Alam on Nov 24, Kasi blamed slow sales, delays in construction and provisions for late delivery charges as the main causes of the weaker financial performance.

He said that in order to maintain FY05’s performance, MK Land would have to launch new products and lock in sales.

“We are improving our sales efforts; we are trying to relook our sales strategies and we will see how we can market new products.

“We are now replanning some of our new launches in 2006 and we hope this will help us reposition ourselves in the market. Within our current projects, we are trying to reposition ourselves in terms of pricing and the facilities we provide,” he said.

Another strategy, said Kasi, was to go into landed property in Damansara Perdana. “In the Klang Valley, we have never introduced landed property products. The semi-detached homes in Damansara Perdana, of which we hope to launch Phase One in 2006, will give us a new avenue to improve our performance,” he added.

He said Phase One would comprise 35 to 45 units and have a gross development value of RM50 million to RM55 million. Additional phases, he said, would be introduced as and when the market demand was there.

“Other than semi-dees, we are also planning for a package of bungalows within the Damansara Perdana area but these are still in the planning stages,” he added.

Meanwhile, commenting on market speculation that MK Land would be issuing RM300 million in bonds, Kasi said: “The company has not announced the issue of bonds. People are speculating that we will. We are only considering it because interest rates may go up and all that.”

He said the speculated figure was probably derived from the company’s existing bonds. “We see no reason to raise another RM300 million.”

Orang Asli receive individual land titles

For possibly the first time, 147 Orang Asli families were given something the original inhabitants of this land had never been given before: individual land titles. The handing-over ceremony at the Desa Temuan Bukit Lanjan community hall near here was to have marked the end of a 10-year development project by MK Land Berhad to bring the Orang Asli of Bukit Lanjan into the mainstream with an innovative compensation package.

It is also the beginning of a new way of empowering the Orang Asli and is set to become the yardstick by which other Orang Asli compensation schemes will be measured.

In the past, the Orang Asli as a community could not own land.

What ancestral land they had was held in trust for them by the Government.

If they were made to vacate the land for development, they would be compensated with land elsewhere — but the land was communal property. If an Orang Asli left the community, he left the land.

Which is what makes today’s handing over of individual title deeds so significant.

"What is special about today is that they have their own land — not reserve land. They own it. Individually," said MK Land chairman Tan Sri Mustapha Kamal Abu Bakar after handing over title deeds to 10 representatives of the community.

"This is one of my greatest successes — to be able to see this through to the end after 10 years of planning and 350 meetings between the company, the Department of Orang Asli Affairs and the Orang Asli village committee to come up with this programme," he said.

"This project is not so much about physical or structural development as it is about a mindset development — it is a paradigm shift.

"Not only have we taken them physically into town living, but we are also attempting to change the way they look at the world and at the role they have to play in it."

In 1995, MK Land bought all 256.44-hectares of the Orang Asli reserve land at Bukit Lanjan from the Government at a cost of RM91.8 million.

But instead of the sum going into the government treasury, the money was allocated for the resettlement and betterment of the Bukit Lanjan Orang Asli.

Under the compensation package, each of the 147 Bukit Lanjan Orang Asli families would be allocated a four or five-bedroom single-storey bungalow at Damansara Perdana to live in, a double-storey terrace house in Damansara Damai to rent out, and RM45,000 worth of Amanah Saham Bumiputera unit trusts.


Related Article @ New Straits Times
Related Article @ Malay Mail

MK LAND ( Developer of Damansara Perdana) Share Summary

MK LAND HOLDINGS BERHAD

Symbol & Code : MKLAND (8893)

Board : Main

Industry : Properties

High		Low
	Prices 1 Month	0.950	(18-Oct-05)	0.725	(28-Oct-05)
	Prices 3 Months	1.000	(30-Aug-05)	0.725	(28-Oct-05)
	Prices 12 Months	2.350	(17-Feb-05)	0.725	(28-Oct-05)
	Volume 12 Months	192,904	(19-Nov-04)	30	(12-Apr-05)

Copy Cat received complain

Odd balls to roll over to playgrounds

By K.W.MAK

The weird looking balls at the SS3 junction are "a mistake."

THE weird looking balls at the SS3 junction will be moved to playgrounds around Petaling Jaya.

Kampung Tunku assemblyman Datuk Dr Wong Sai Hou said the balls were a mistake.

"The balls were an idea that was based on MK Land's Damansara Perdana landscaping and were supposed to sport the council's colours and be an artistic representation of Petaling Jaya Municipal Council’s progressiveness," said Dr Wong.

"However, on the day when they were put up, the Landscape Department director Zuraidah Sainan was in hospital and the contractor that was doing the job did not know how to arrange them," he added.

The fibreglass balls, purportedly costing RM500 each, will be shifted after the holidays and replaced by plants that do not obstruct the view of motorists.

StarMetro highlighted the matter on Oct 22 after residents called up to complain about the odd-looking structures “decorating” the junction.

An about-turn from the days of old

Metropolis, a new column on everything you wanted to know about a neighbourhood, features highlights, its history, places of interest and the goings-on in the area. Today, JAYAGANDI JAYARAJ stops by at Damansara Perdana and Mutiara Damansara

THE view of Damansara Perdana from Perdana View Condo is impressive.

It overlooks a well-planned bungalow housing area while the surrounding hills offer a sense of peace.

Even better is the constant waft of wind that sweeps through the condominium’s pool sides.

The skyline 'littered' with popular names.

“The location of Damansara Perdana is excellent,” said Damansara Perdana Exclusive Condo residents’ association secretary Nicholas Tay. “It is ideal as everything we need is in the vicinity.”

Tay, 35, is one of several young married couples who have made Damansara Perdana, developed by MK Land Holdings six years ago, their home.

It was previously the Orang Asli Temuan settlement.

Today, the area features medium-cost and high-cost condominiums with modern facilities, such as the Emerald, Metropolitan SQ and Armanee Condominium. There is also a Perdana Business Centre in the vicinity.

“Residents are mostly couples who are below 40 years old,” said Tay. “I find the location Petaling Jaya’s best.”

Mutiara Damansara, the commercial hub nearby, is made up of popular establishments such as Ikea, Ikano Power Centre, The Curve and Tesco Hypermarket.

Formerly a palm oil plantation estate, Mutiara Damansara has been developed by Mutiara Rini.

Ismail … ‘now we have a permanent house’

Today, it is a popular destination for families from all over Klang Valley.

Mutiara Homes Residents Association chairman Syed Nasurudin Al-Aidid agreed with Tay.

“Most families shop in Mutiara Damansara,” he said. “For those living in the vicinity, schools are within easy reach in Bandar Utama and Taman Tun Dr Ismail.”

Mutiara Homes is located opposite the shopping area and consists of double-storey houses, bungalows, condominiums and more shop lots.

Like in Damansara Perdana, families at Mutiara Homes are also young couples.

Syed Nasurudin said Mutiara Homes community was a united lot. This, he said, was evident from the association’s activities to enhance security recently.

“Although we have social gatherings from time to time, we are even better united where security issues are concerned,” he said.

“A few months ago, we held a gotong-royong to fix barbed wires and shredded glass pieces on a border wall to prevent break-ins,” said Nasurudin.

The commercial hub is busy, not only on weekends, but on weekdays too.

While Ikano Power Centre, The Curve and Ikea provide wholesome family activities, Cineleisure Damansara is a centre for youth. It is a five-storey entertainment, lifestyle and leisure mall that features a 10-screen Cineplex.

The entertainment outlets, concept stores and food outlets are designed to attract the younger crowd, aged between 14 and 24.

The secondary target group is those who are 25 to 40 years old.

Soon to be completed, the mall will also feature an outdoor youth park and is keen on holding activities like X-Games.

A family returning home after shopping at The Curve.

Amidst massive development at the two areas, there is still a small group of Orang Asli at the Desa Temuan settlement in Damansara Perdana who go about their lives at a leisurely pace.

“Those days, we lived in make-shift huts and moved about the jungle, but now we have a permanent house,” said community leader Ismail Cat, who is better known as Tok Batin.

“Most of us do odd jobs at constructions sites and some work at factories,” he said. “Some still make a living out in the jungle at the hills.”

Ali Siham, 46, is one such resident who goes to the jungle to collect banana leaves everyday. He sells them to traders at nearby Kampung Pencala.

“I usually leave about 8am and will be back by 1 or 2pm,” he said. “I sell one bundle of leaves for RM1. I usually return with about a dozen bundles.”

The settlement has 147 houses and has facilities such as a school, community hall and a museum that displays Temuan heritage.

Both Mutiara Damansara and Damansara Perdana are easily accessible via a few highways – Damansara-Puchong Highway (LDP), New Klang Valley Expressway (NKVE) and Pencala Link.

Bukit Lanjan assemblyman Yong Dai Ying said the two areas were located in Petaling Jaya’s Golden Triangle.

“The areas are a major shift from the older part of Petaling Jaya and we anticipate a two-fold population increase in the next five to 10 years.”

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Infomation About Damansara Perdana

Damansara Perdana, Petaling Jaya, Selangor Petaling Jaya's Most Innovatively Vibrant and Prestigious Address

In recent years, Damansara Perdana has flourished quickly to become the best selling township in Petaling Jaya with total sales now exceeding RM1.9 billion. Widely regarded as a township with many firsts, properties here have proven to have good capital appreciation and investment returns.

The 750-acres Damansara Perdana is located within the Golden Triangle of Petaling Jaya, which also consists of Bandar Utama and Mutiara Damansara. This vicinity has consistently been voted by The Edge as the most sought-after address in the Klang Valley. Be it business, convenience, leisure or residential, this place is abundant of life with impressive accessibility via the LDP, SPRINT highway (Penchala Link), Persiaran Surian, and NKVE, renowned shopping and entertainment centres 1-Utama, IKEA, The Curve, Tesco and Cathay Cineleisure (to be opened for business soon), offices, hotels, schools, and much more.

Metropolitan Square Condo @ DP

With the recent opening of the 24 million ringgit direct-connection to the SPRINT highway (Penchala Link), traveling to Kuala Lumpur City Centre is a breeze. It only takes about 7 minutes to reach Jalan Duta from here. This fast-developing township is only a mere 5 minutes to Mont' Kiara via the SPRINT highway Penchala Link.

Since the handing over of Perdana Condominiums in 2002, the masterminds of this unique township and leading property developer MK Land Holdings Bhd has continuously innovated new cutting-edge lifestyle-oriented properties with good quality. Built around its theme 'Resort-style, High-tech, High-art', investors had a taste of the first glass-edged pool in a condo, mini golf driving range, e-lifestyle township and duplex condos with a private garden.

Impressive mixed developments have been consistently handed over on time with CF i.e. Perdana View condo and service apartments, Emerald condo and service apartments, Perdana The Place, Perdana Business Centre, and most recently the prestigious Armanee Terrace Condominiums.

Business Center @ DP

This RM9.7billion township will be launching its first landed property this year in the form of boutique semi-detached homes. With the newly improved road interchange system at the entrance of Damansara Perdana, traffic conditions have been greatly improved. The commitment towards the design and development of Damansara Perdana by MK Land will ensure the consistent capital appreciation within this area.

You can still be a part of this vibrant community. Currently, the most modern development in Petaling Jaya, Metropolitan SQ (MSQ), is selling fast. With 2 blocks of condominiums completely sold out, there is now a choice of the Milan and Paris condominiums which feature the first glass-edge pool in Malaysia, wi-fi ready units, modern clubhouse facilities, various choices of layouts to choose from, and more. Also available at Metropolitan SQ are retails shops and rare grade-A offices. Phase 1 is expected to be completed by end-2006.

Those who missed out on owning the industry trend-setting Armanee Terrace Condominiums (ATC) have yet another chance. The new and improved Armanee Terrace II condominiums are now open for sale. This luxury duplex condominiums feature a private garden, double-volume ceiling in the living room, full-glass frontage, superb security, club services wi-fi, and much more.

Visit the Damansara Perdana Show Village today to feel the difference that has made this township the talk of the town in recent times. Take advantage of owning a piece of this bustling township now to benefit from its proven capital appreciation in years to come.

Damansara Perdana interchange bypasses LDP Highway

Developer Information:


Saujana Triangle Sdn Bhd (339170-W)

Address:
No. 1 Jalan PJU8/1 Perdana Business Centre, Damansara Perdana, Petaling Jaya 47820 Selangor.
Phone:
603-7727 8728
Fax:
603-7727 8869
Website:
www.damansaraperdana.com.my
Holding:
MK Land Holdings Berhad

More Information @ http://en.wikipedia.org/wiki/Damansara_Perdana

Map of Damansara Perdana click here

Map of Damansara Perdana

How to go Damansara Perdana? The following is the Map & Master Plan of Damansara Perdana

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Map of Damansara Perdana



Master Plan of Damansara Perdana



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Blogging Damansara Perdana

Puporse of this blog - Monitoring Petaling Jaya's favorite modern township and this blog was NOT affiliated with Developer(MK Land),Management or Associate of Damansara Perdana, we will soon setup related link like photo or video album, Forum for Damansara Perdana(as the developer stop their online forum, i think everyone know whats the reason behind), If you have any idea to help this blog getting better, please do not hesitate contact us by : damansaraperdana@gmail.com

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Regards,
Founder of Damansara Perdana Blog & Forum