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SP Setia plansrights issue toraise up to RM1.07bPET AUNG JAVA: SP Setia Bhd is planning arights issue of up to 1.07 billion new IslamicRedeemable Convertible Preference Shares(RCPSi) to raise up to RM1.07 billion forworking capital and future projects.
In a stock exchange filing last Friday, it said itwill use up to 72% of the proceeds, or RM768.1million for future property development andexpansion plans.
SP Setia will use RM300 million of theproceeds for existing projects in Selangor, KualaLumpur and Penang, namely Setia Ecohill 2,Setia Eco Templer, Setia Sky Seputeh, Setia Trio,Setia Sky Vista, and Setia Sky VUle.The proposed rights issue is expected to be
completed in the fourth quarter of 2016 and isnot expected to have any material effect on itsFY16 earnings.
SP Setia said the issue price is RMi perRCPSi on the basis of two RCPSi for every fiveexisting ordinary shares of 75 sen each. Theentitlement date will be announced later.
Permodalan Nasional Bhd, which held 1.34billion shares representing 51.04% of the issuedand paidup share capital of the company, hasprovided its written irrevocable undertaking tosubscribe its entitlement in full. The undertakingwill not trigger any mandatory takeoverobligation for remaining shares.
The group also seeks to increase inauthorised share capital and amendmemorandum and articles of association toaccommodate and facilitate the issuance of theRCPSi and new SP Setia shares.
Headline SP Setia plans rights issue to raise up to RM1.07bMediaTitle The SunDate 06 Jun 2016 Color Black/whiteSection Business Circulation 306,000Page No 17 Readership 918,000Language English ArticleSize 87 cm²Journalist N/A AdValue RM 1,419Frequency Daily PR Value RM 4,256
BANGSAR:Still a much soughtafter residentialand business locationBANGSAR is an affluent neigh
bourhood located just 4kmaway from Kuala Lumpur city
centre.
The first development, BangsarPark was started in 1969 by the EngLian Group who, together with Bandaraya Development Bhd (BRDB),were the main developers inBangsar. Jalan Maarof is the mainthoroughfare passing throughBangsar and cuts the area into twosections.
Originally residential in character,Jalan Maarof has seen many of theresidential bungalows converted tocommercial buildings housing offices, furniture outlets, fashion retailers and other businesses.The close proximity of Bangsar to
the city centre, coupled with goodaccess, attracted KLites to makeBangsar their preferred choice as aplace of residence and this led tohouse prices rising many fold.The completion of the Lucky Gar
den and Bangsar Baru commercialhubs provided residents access to anarray of eateries, entertainment andretail outlets and raised the level ofconvenience of the area.Bangsar residents' access to retail
therapy was further enhanced withthe completion of Bangsar ShoppingCentre, or BSC as it is popularly andaffectionately referred to, andBangsar Village 1 and 2.House prices in the older part of
Bangsar comprising housingschemes like Bangsar Park, LuckyGarden and Bangsar Utama are relatively more affordable while thenorthern portion made up ofschemes like Taman SA, Bukit Pantai, Bukit Bandaraya and TamanBandaraya have more pricey homes.Bangsar Baru, located in the cen
tre which contains the commercial
hub as well as residential properties,is somewhat in between these twoends of the spectrum in terms ofpricing although prices of the shopsin the area have escalated to astronomical levels with doublestoreyshops having breached the RM6 million mark and threestorey cornershops reaching the RM8 millionthreshold.
In terms of highrise residences,there seems to be a few tiers of pricing depending on the properties' ageand location.
Bangsar Utama and BukitBangsar, which have several lowmediumcost flats and older apartments appear to be the most affordable areas to stay in Bangsar withprices as low as RM350.000 toRM400.000 or RM300 to RM400per sq ft (psf).Newer developments like Gaya
Bangsar with its proximity to thelight rail transit (LRT) station are,however, more in line with the general price levels in Bangsar rangingbetween RM850 and RM950 psf.Overall, most of the condomini
ums in Bangsar are within theRM700RM1,000 psf range with theolder ones at the lower end of thescale and the newer developmentscloser to the upper end of the scale.There are a number of condomini
ums where prices have breached theRMl.OOO psf threshold — Sri Penaga, Bangsar Peak, Ken Bangsar, OneMenerung and Nadi Bangsar whichis due for completion in 2017.There are in fact one or two trans
actions in One Menerung whichhave exceeded RMl.SOO psf.The most expensive development
in Bangsar would be the luxuriousSerai in Bukit Bandaraya, where theunits have very large builtups of4,000 to 6,900 sq ft for the standardunits and 14,000 sq ft for the two
penthouses. The project waslaunched at RM4 million onwardsfor the standard units and RM22million for the penthouses, (analysed to be above RM1.500 psf) and isdue for completion in the later partof 2016.
There will be a number of excitingdevelopments taking place inBangsar in the future and this willfurther boost the desirability of thearea and possibly contribute to thefurther appreciation of property values.
Firstly, the former Unilever land
along Jalan Bangsar, which has longbeen a landmark in Kuala Lumpur,will see the site being transformedinto a new residential and commercial hub.The land on which the New Straits
Times Press headquarters sits is alsovery prime and valuable and, in viewof its strategic location, could verywell be redeveloped in the future.These future developments will
breathe new life to and transformthe area besides providing evenmore amenities to Bangsar residents. Together with the KL Eco Citydevelopment, which will be completing soon, and Mid Valley City,these two future developments willform a vibrant commercial corridorwhich will be a boon to the entirearea.
Lastly, there is an mass rapid transit station (MRT) at Pusat BandarDamansara and when the MRT Sungai BulohKajang (SBK) Line becomes operational, this will be ableto serve residents in Bangsar due toits relative proximity.All said, Bangsar will continue to
be a desired and coveted address inKuala Lumpur catering to the affluent class. Story courtesy of HenryButcher Malaysia
Headline BANGSARMediaTitle New Straits TimesDate 06 Jun 2016 Color Full ColorSection Business Times Circulation 74,711Page No B9 Readership 240,000Language English ArticleSize 774 cm²Journalist N/A AdValue RM 26,680Frequency Daily PR Value RM 80,041
Headline BANGSARMediaTitle New Straits TimesDate 06 Jun 2016 Color Full ColorSection Business Times Circulation 74,711Page No B9 Readership 240,000Language English ArticleSize 774 cm²Journalist N/A AdValue RM 26,680Frequency Daily PR Value RM 80,041
Sime Darbylaunches AuxiliaryPolice unitSAFE HAVEN: Initiative to enhance level ofsecurity in its townships, developments
SHAKEN KAURKUALA LUMPUR
[email protected] like township projects
because of the multiple product offerings comprising both
residential and commercial units.But safety is the main attraction.When a township is not safe, word
goes viral and less people wouldwant to buy. Property developers,therefore, have been paying moreattention on safety to help protectproperty values and create a safeliving and working environment forall.Sime Darby Property Bhd, which
has a 40year track record of developing sustainable communities,is very much focused on providing asafe haven for its residents.In 2009, the property group pi
oneered a comprehensive "SafeCity" initiative for the AraDamansara township.The initiative included a 24hour
surveillance by a network of strategicallylocated solarpoweredclosedcircuit television (CCTV)cameras linked to the township'sown police station, which was builtby Sime Darby Property.The CCTV facility is part of the
Safe City initiative between SimeDarby Property and the police toboost security within the townshipand create a harmonious commu
nity in Ara Damansara.
Ara Damansara is an integratedand selfsustaining township thatconsists of low and highrise residential houses, commercial properties and bungalows arrayed indedicated garden precincts andcommercial centres. It has from theluxurious, resortstyle villas of AraHill to the spiffy, serviced suites ofOasis Damansara and Cantara Residences, making security a top priority.Sime Darby Property recently
launched its Auxiliary Policeunit in efforts to enhance the lev
el of security in its townships anddevelopments.The establishment of the Auxil
iary Police unit is to augment thecurrent security service system at allits townships, developments and assets, as well as to assist the RoyalMalaysian Police (RMP) to combatcrime effectively.It is also in support of the gov
ernment's National Blue OceanStrategy to enhance the health, safety and security needs of the nation.Sime Darby Property managing
director Datuk Jauhari Hamidi saidthe introduction of the Auxiliary Police unit was part of the group's approach to reinforce the security at allcurrent and future Sime Darby Property townships, with the aim of cre
ating a safer environment for thecommunities.Jauhari said the first batch of 32
police personnel would be deployedto selected Sime Darby Propertytownships and developments inElmina East, Bandar Bukit Raja,Bukit Jelutong and the KualaLumpur Golf and Country Club.The police personnel underwent a
twomonth basic Auxiliary Policecourse at the Police Training Centre
in Bukit Sentosa, Rawang, he said."We plan to expand the unit with
more trained personnel being deployed across all our townshipssoon," he said at the inaugurationceremony, here, recently.Deputy inspectorgeneral of po
lice Datuk Seri Noor Rashid Ibrahimsaid the partnership was to facilitatethe leveraging of resources to meetcommon goals.
"At the core of this collaboration ishow the RMP helps business corporations like Sime Darby Propertyto enhance its capacity and capability to contribute towards communal safety and public security."In this regard, the setting up of
Sime Darby Property's Auxiliary Police is seen as an extension of theRMP's presence within a township,"said Noor Rashid.
Headline Sime Darby launches Auxiliary Police unitMediaTitle New Straits TimesDate 06 Jun 2016 Color Full ColorSection Business Times Circulation 74,711Page No B8 Readership 240,000Language English ArticleSize 401 cm²Journalist Sharen Kaur AdValue RM 13,823Frequency Daily PR Value RM 41,468
I[
Sime Darby Property managing director Datuk Jauhari Hamidi (left)receiving the Sime Darby Property Auxiliary Police approval documentfrom deputy inspectorgeneral of police Datuk Seri Noor RashidIbrahim at the inauguration ceremony in Kuala Lumpur recently.
Headline Sime Darby launches Auxiliary Police unitMediaTitle New Straits TimesDate 06 Jun 2016 Color Full ColorSection Business Times Circulation 74,711Page No B8 Readership 240,000Language English ArticleSize 401 cm²Journalist Sharen Kaur AdValue RM 13,823Frequency Daily PR Value RM 41,468