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THE Emkay Group of companies, controlled by developer Tan Sri Mustapha Kamal Abu Bakar, said its plans to set up a commercial property trust could take two years to materialise. Chief operating officer Peter Teh Heng Poh said the real estate investment trust (REIT) is still in the idea conception stage, but it is targeting to have at least 500,000 sq ft of net lettable area in the trust. “Based on the buildings that we have, the size is already there. We are working on other details,” he told Business Times in an interview in Damansara Perdana yesterday. The REIT will likely be listed on the local bourse and will own mainly the Emkay Group’s properties in Cyberjaya as well as in Damansara initially. Among assets to be sold into the trust is the four-storey Bangunan Mustapha Kamal in Cyberjaya, which has 121,500 sq ft of lettable area. The building has been completed and the group is in negotiations with potential tenants, Teh said. In Damansara Perdana, the 21-storey Menara Mustapha Ka...

PETALING JAYA: Time dotCom Bhd (TdC) is expanding its broadband service Time Netlynx to include high-end residential areas in Penang by year-end, said its managing director Datuk Baharum Salleh. “We will be offering broadband speeds of up to two megabits-, four megabits-, six megabits- and 10 megabits- per second (Mbps) to the residents on the island,” he told reporters at TdC Hari Raya open house here yesterday. He said TdC was looking for partners to expand its residential broadband services in the country. Baharum said the packages were competitively attractive with the 2Mbps package priced at RM75, 4Mbps at RM179, 6Mbps at RM269 and 10Mbps at RM469. He said the prices were better than what was currently in the market and that further expansion was possible with proper funding. Baharum said TdC was also looking for the best way to fund the residential broadband service expansions. “The issue here is funding. At the moment, we have zero borrowings and I want to deliberate to the boar...

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KUALA LUMPUR: Time dotCom Bhd hopes to sign up 1,000 subscribers for its newly launched high-speed broadband service, Time Netlynx, within three months. Managing director Datuk Baharum Salleh said he was confident the 10 megabits per second broadband service would eceive “overwhelming response from the consumers as they have been waiting for it for so long”. ”Netlynx will put Malaysia on par with other ICT-advanced countries in the region such as Japan, South Korea and Hong Kong,” he said yesterday at the launch, which was officiated by Energy, Water and Communications Minister Datuk Seri Dr Lim Keng Yaik. Datuk Baharum Salleh (left) and Palette Multimedia Sdn Bhd executive director Sukhdev Singh at the launch of Time Netlynx Baharum said Time had invested about RM1mil in its pilot service in Damansara Perdana, and was targeting to capture 500,000 subscribers nationwide over a three-year period. Read more @ The Star Online - Time targets 1,000 users for new broadband s...

Open Letter from MK Land's Saujana Triangle Sdn. Bhd. WE refer to an article that appeared in StarMetro on Aug 3 with regards to the inspection conducted by Petaling Jaya City Council (MBPJ) on Aug 2 following complaints by residents of Block F, Flora Damansara, Damansara Perdana. The developer was not invited for the scheduled inspection with MBPJ. However, as the matter had come to our notice, we attended as observers. It appears that the purpose of the inspection arranged by the residents was to highlight defects at the building. The defects highlighted were mainly leakages and cracks. Further, we were not approached by any of your representatives present for comments. The residents complaints dated July 18 should have been addressed to us as the developer (Saujana Triangle Sdn Bhd) and not MK Land Holdings Bhd. Upon receiving the complaints on July 20, we had already commenced action to resolve the issues and concerns raised. However, the rectification works cannot be carried...

By K.W. MAK Photo by YAP CHEE HONG News from The Star THE Petaling Jaya City Council (MBPJ) will arrange for a meeting between the council, residents and the developer of Flora Damansara to resolve issues involving shoddy workmanship of the condominium. MBPJ officers visited Flora Damansara Block F yesterday to inspect the defects in the structure. These defects were highlighted in a report that was sent to MBPJ and to MK Land Holdings Bhd on July 18. See this: Ho pointing out a defect at the Flora Damansara condominium to MBPJ officers. The defects include cracks at all floors in the car park area and leakage on the floor below the swimming pool with inoperative surface conduits. The report also highlighted an incident, which happened on July 1 at around 5.20am where building debris from higher floors fell onto two cars parked below, causing serious damage. Exposed cables, water seepage and cracks were also pointed out to the MBPJ officers during the inspection. The Flora Damansara Re...

By JADE CHAN Photos by NORAFIFI EHSAN jade@thestar.com.my APARTMENT buyers of Block F, Flora Damansara, in Bandar Damansara Perdana are unhappy with the developer over several issues, including late delivery of vacant possession and delay in compensation for their apartments. They recently held a meeting with several representatives from the developer Saujana Triangle Sdn Bhd, a member of MK Land Holdings Berhad. Present as mediator was Bukit Lanjan assemblyman Yong Dai Ying. A number of Block F buyers have yet to receive the keys to their units and compensation for late delivery. These buyers, and those from the other apartment blocks at Flora Damansara, also raised several issues regarding the security, building structure, and state of common facilities at their blocks. Clearing the air: (From left) Fatimah, Yong and Ho informing reporters of the outcome of the meeting between the apartment buyers and the developer. There are over 600 apartment units in Block F,...

By Surin Murugiah - The Edge Daily 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. read full article press here....... Technorati Tags: Citibank , Damansara Perdana , Petaling Jaya , Urban City , Malaysia , Banking , Business , Property , MK Land

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! Read Full Article Press Here OR Visit Friendster Cafe and Restaurant Website @ http://www.friendstercoffee.com

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...

PETALING JAYA, SELANGOR, Tues. 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. READ FULL ARTICLE CLICK HERE

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 newspape...

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 taki...

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. READ FULL ARTICLE CLICK HERE

By Carolyn Lim Of DOW JONES NEWSWIRES 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. READ FULL ARTICLE CLICK HERE

By ANGIE NG 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 READ FULL ARTICLE CLICK HERE

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 ...

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...

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 d...

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 ...