Thursday, August 10, 2006

Citibank to open branches in Damansara Perdana, Petaling Jaya by year end 2006

Citibank Bhd will open two branches in Selangor by year-end, having doubled its branch network in the past six months, said its country officer and chief executive officer Piyush Gupta.

He said the new branches would be in line with its organic growth strategy to better service customers and for greater reach, especially to meet the needs of small and medium-sized enterprises (SMEs).

The two new branches will be located in Jalan Batu Tiga Lama in Kampung Bukit Kuda and Damansara Perdana.

“We have doubled our branch network in Malaysia in the last six months.

"Our expansion will be further strengthened with the setting up of more service centres nationwide and the introduction of innovative and competitive products,” he said.

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Monday, May 01, 2006

MK Land Sponsor Friendster Cafe Event - KL International Motorshow 2006 Charity Party Bash

You are invited to join us at this fun and unforgettable night with your friends and family. Enjoy scrumptious delicacies from the Friendster kitchen with a variety of canapés like the Slow Cooked Scallop on French Loaf with Caviar and Baked Aubergine Puree with Crispy Puff served with free flow of wine, beers and mocktails! Ignite your fashion sense with the Catwalk-fashion show by Ms. Malaysia Oriental Pearl semi-finalist and be blown away by other dazzling performances. There will also be Lucky draws with Merchandise, Holiday Vouchers Sponsor by MK Land and more exciting prizes to be won!

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Visit Friendster Cafe and Restaurant Website @


Monday, March 13, 2006

Brighter days ahead for MK Land

MK LAND Holdings Bhd may be looking at brighter days again if its plans to restructure the group's operations and introduce a more impressive suite of higher-end property products showed results.

Instead of building only high-rise apartments and condominiums in its flagship Damansara Perdana development, the company now wants to offer landed residences, including semi-detached houses and bungalows, from June onwards.

Next year MK Land will be ready to kick off its 98-acre Setiawangsa project that has an indicative gross development value of RM500mil.

Unperturbed by talk of a supposed rift between them, executive chairman Tan Sri Mustapha Kamal Abu Bakar and executive director Datuk P. Kasi, are fervently working to introduce more positive changes to the organisation after the company's sales and earnings were eroded last year.

“We expect this year to be the worst year for MK Land, and things should start to improve next year,” Kasi told StarBiz at the MK Land head office in Damansara Perdana.

With a consolidation exercise to revamp the company's operations, the group should be more efficient and profitable going forward.

Datuk P Kasi (left) and Tan Sri Mustapha Kamal.
Mustapha said the company's focus was not to launch a high volume of properties, "but we are looking at higher value products that will spur the company's earnings potential."


Friday, January 27, 2006

Hassle-free passage, Damansara Perdana interchange bypasses LDP


Traffic flow to Damansara Perdana will be smoother with the opening of the Damansara Perdana-Sprint Expressway interchange today.

The RM24 million MK Land interchange project provides motorists with direct access to the Sprint Expressway or Penchala Link from Damansara Perdana, bypassing the Lebuhraya Puchong-Damansara, thus improving accessibility to the township.

The new interchange allows swifter passage for those entering and exiting Damansara Perdana during peak hours, and motorists heading towards Kuala Lumpur using the Sprint Expressway.

The alternative route enables motorists to skip the LDP tunnel during heavy traffic conditions.

Prior to the opening of the interchange, motorists from Damansara Perdana heading towards Petaling Jaya and Kuala Lumpur had to spend 10 to 15 minutes just getting through the tunnel.


Abdullah Instructs PWD To Monitor Stalled Police Projects

SPRINT... Datuk Seri S. Samy Vellu views the traffic flow after the opening of an elevated access to the Damansara Perdana-Penchala Link in Kuala Lumpur. Pix: Shahrizan Jeffri Aziz

KUALA LUMPUR, Jan 24 (Bernama) -- Prime Minister Datuk Seri Abdullah Ahmad Badawi has instructed the Public Works Department (PWD) to monitor all development projects involving the police, including the stalled construction of police stations and quarters, Works Minister Datuk Seri S. Samy Vellu said Tuesday.

The prime minister wanted all projects carried out by consultants appointed by the Internal Security Ministry to be on schedule and within the budget, he said.

"Today, at the committee meeting on the implementation of improvements to the Royal Malaysia Police, the prime minister asked the PWD to monitor stalled projects that have been awarded to the consultants," he told reporters after the opening of an elevated access to the Damansara Perdana-Penchala Link here.

The Utusan Malaysia newspaper recently quoted Deputy Internal Security Minister Datuk Noh Omar as saying that even though RM1.2 billion had been allocated to build 25,000 units of police quarters nationwide, most of them had stalled.

Samy Vellu said he would call a meeting with all the consultants soon to explain the work arrangements and deadline to complete the projects.

When asked to comment on Abdullah's statement that only 84 per cent of projects under the Eighth Malaysia Plan (2001-2005) had been implemented, he said all projects under his ministry had been implemented successfully.


City & Country: Truly Malaysian offices

Imagine this — walking through a lush green landscaped plaza dotted with 15m high trees, into a glass lantern lobby 9m high, supported by elegant round black steel columns that are contrasted by over-burnt brickwork flooring.
No, you're not at an exotic holiday destination tucked away somewhere in a mystical location. Welcome to the Petaling Jaya Trade Centre (PJTC), a cluster of leasehold offices being built on the fringe of Selangor's Damansara Perdana township.
The simplistic and conventional name of PJ Trade Centre belies the story of this up-coming true-blue office development. More than that, this is also a story of the debut of Ahmad Khalif, the son of prominent property developer Tan Sri Mustapha Kamal, co- founder of MK Land Holdings Bhd, in the property development arena.
Going against the flow of conventional boxed but tried-and-tested office buildings that shout sleek marble and granite finishing, the duo of Ahmad Khalif Tan Sri Mustapha Kamal and Peter Chan is taking a stand on what a truly Malaysian-inspired grade A office development should be all about. (Chan was the former chief operating officer of Saujana Triangle Sdn Bhd, a subsidiary of MK Land Holdings and developer of the 750-acre leasehold Damansara Perdana township.) The name of the developer is Tujuan Gemilang Sdn Bhd of which Chan is the executive director. The 26-year-old Ahmad Khalif, formerly general manager (special functions department) in MK Land, holds the post of executive chairman.
Interestingly, the architectural design, character and even the spirit of PJTC are deliberately made to depart from the trodden path of developers. For starters, the design of the façade of the four tower blocks is inspired by the age-old Malaysian art of intricate weaving. Apart from the main lobby areas (one in each of the four blocks), which will be cooled with the aid of air-conditioners, the corridors and other common areas have been designed to make full use of the flow of cross winds.
The layout design of the office units says a great deal of the deliberate use of abundant natural lighting. Natural air circulation is also generously promoted, thanks to the installation of windows rather than fixed glass façades.
For a refreshing change, the building materials used are strictly local. But would the starkly back-to-basics design narrow its target market base? Sleek and shiny granite or marble is, after all, still the usual choice for high-end buildings these days.
The Ahmad Khalif-Chan team is unfazed. "We are taking a stand on this matter; we are aware that there will be those who are not in tune with it; but so be it," says Chan. "We have even told our staff to be prepared for more rejection than usual..." It is as if Chan is reminding himself of the self-admitted daunting task ahead.
Chan is not joking. Not exactly known to be one who minces his words, he concedes that he is very aware of the stiff competition he faces, together with factors like rising interest rates and their brave venture into untested design grounds.
"All we need is just 137 buyers," he says, again almost reassuring himself. "That's all...," Chan continues.
PJTC comprises four blocks. Block A will not be for sale — it is given back to the land owner, MK Land's Saujana Triangle, in exchange for the 5.4-acre tract and some cash. Here, Ahmad Khalif points out that there were restraints set right from the start — in that, to avoid competition and any form of conflict of interest, the understanding with the landowner was that plans for this tract should not comprise any product being offered in Damansara Perdana by Saujana Triangle. Block D is being marketed en bloc. Blocks C & D comprise 137 units, the regular type of which are sized from 2,143 to 2,945 sq ft. There are penthouses for sale — these are huge, to the tune of 19,581 sq ft!
The average pricing is set at RM360 psf but for now, the developer is offering a discount of 5% and an additional early bird discount of 3%. This effectively brings the psf rate down to RM330. Before the 8% discount, the typical units are priced from RM760,800 to RM1.15 million (see project fact sheet).


Wednesday, January 25, 2006

Samy: PWD to monitor police infra projects

PETALING JAYA: Implementation of infrastructure projects involving the police force will now be monitored by the Public Works Department (PWD).

Works Minister Datuk Seri S.Samy Vellu said the decision on the matter was decided by the Cabinet Committee on Police Management Improvement which met at Putrajaya on Jan 24.

The meeting was chaired by Prime Minister Datuk Seri Abdullah Ahmad Badawi.

Speaking to reporters here after opening the traffic interchange linking Damansara Perdana to the Damansara-Puchong Highway and the SPRINT Highway, he said the various projects involving the police force, such as construction of new stations and quarters for staff, as well as upgrading of existing ones, will still be managed and implemented by consultants appointed by the Internal Security Ministry.


Saturday, January 21, 2006

INTERVIEW: Malaysia MK Land Expects Pft Growth From FY07

   By Carolyn Lim

KUALA LUMPUR (Dow Jones)--Malaysia's MK Land Holdings Bhd. (8893.KU) expects to reverse the past few years of sliding profits starting with the year that ends June 2007, senior executives at the homebuilder said.

That financial year will also mark the start of development of luxury houses at MK Land's flagship Damansara Perdana project, Executive Director Kasi Palaniappan told Dow Jones Newswires recently.

The houses - the first MK Land is building in the capital - are aimed at offsetting slower demand for apartments, which have been the company's main product thus far. MK Land is Malaysia's seventh-biggest homebuilder in terms of market capitalization.

"By doing landed property, we are opening another avenue. If (apartment sales) slow down, we have got another product, another market coming up so we can boost our revenue," Kasi said.


New standard in office building

PJ TRADE Centre, a boutique office development at the entrance of Damansara Perdana, will become a new landmark at the thriving Petaling Jaya's Golden Triangle.

Situated on 5.4 acres, the first corporate office development in Damansara Perdana will comprise four Grade A office blocks housing 210 signature offices.

The land was previously owned by Saujana Triangle Sdn Bhd, a subsidiary of the MK Land group, which is developing the Damansara Perdana township.

It was acquired by Kesan Sanubari Sdn Bhd in 1996, which went into a joint venture with the developer of PJ Trade Centre, Tujuan Gemilang Sdn Bhd, in March last year.

Construction of the RM280mil project started last month, and it is scheduled to be completed in 2009.

Ahmad Khalif Mustapha Kamal (left) and Peter Chan


Monday, January 16, 2006

Designed to be different

Christopher Fernandez
As we enter an era that places great emphasis on work productivity and efficiency, the commercial projects taking shape have to be designed to support the demands of today. Nobody knows this better than Tujuan Gemilang Sdn Bhd (TGSB), developer of what it says will become a landmark in “the Golden Triangle of Petaling Jaya” in Selangor.

For this reason, its RM280 million venture, the Petaling Jaya Trade Centre (PJTC) that commenced site-clearing last month is being built to be “more comfortable, conducive and productive” than the conventional.

“It is a unique concept that we are offering; one that we believe Malaysian entrepreneurs will appreciate as we enter a new level of sophistication and affluence,” said TGSB’s executive director Peter Chan.

Targeted primarily at the knowledge-based industry, he added that the project’s forward-thinking nature should make it “the choice of the discerning crowd”.

This is also the development with which the company’s executive chairman, Ahmad Khalif Mustapha, son of MK Land Holdings Bhd chief executive Tan Sri Mustapha Kamal, is eager to prove his mettle as a developer in his own right.

As for the concept, PJTC’s designer Kevin Low of Small Projects said: “The basic concept is based on a Malaysian paradigm, one less reliant on Western concepts, both with respect to choice of construction materials and building design.

“As a result, it is better adapted to suit the local tropical context.”

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