CL Integrated takes on high-end job

By Sharen Kaur
Published in NST on May 18 2010

Property developer CL Integrated Resources Sdn Bhd plans to launch by next year a high-end gated residential project worth RM500 million in Seksyen U10 in Shah Alam, Selangor.
 
Its founder and executive director Chu Bak Teck said the 50-acre development will comprise 400 units of hillside bungalows, semidetached houses and villas, priced from RM1 million.

Chu said CL Integrated has submitted the layout plans and is awaiting the authority's approval.

"If all goes well, we hope to start construction by mid-2011 and launch the project six months later," he told Business Times in an interview.

CL Integrated is owned by four individuals, who have more than 10 years of experience each in real estate development.


The other three directors are managing director Kenneth Lim, John Lam Joo Onn and chairman Datuk Pua Kim An.

The company's existing project is 1 Sentul Condominium in Kuala Lumpur, which is being developed in a 50:50 joint venture with Zalam Builder Sdn Bhd.

Some 95 per cent of the 284 units, each priced from RM317,800 to RM903,800, have been sold. The project is expected to be completed by early next year.

CL Integrated's latest development is PJ21 on 2 acres of freehold land in SS3, Petaling Jaya, comprising 21 blocks of four and six storey shop offices.

This is a joint development with low-profile Jalur Rimbun group of companies.

Chu said 80 per cent of the blocks were taken up less than two months after the soft launch.

Buyers were mainly local businessmen buying for their own use and for investment.

He expects the remaining blocks to be sold by July.

The four-storey blocks are priced from RM2.88 million each, which the six-storey is selling at more than RM5.95 million per unit.

"This is evidence that the property market is improving. We are optimistic on the outlook and are looking for more land to buy," Chu said.

Chu said construction on PJ21 is expected to start next month and the project will be completed by December next year.

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Bina Puri upbeat on winning over 10pc of job bids

By Sharen Kaur
Published in NST on May 6 2010

Bina Puri Holdings Bhd has bid for RM4 billion worth of building and infrastructure projects and expects to get more than 10 per cent of them this year, its chief says.

Some 57 per cent of the projects are in Saudi Arabia, Thailand and Brunei, group managing director Tan Sri Tee Hock Seng said.

Last year, Bina Puri won projects worth almost RM1.5 billion.

In Saudi Arabia, Bina Puri has an equal joint-venture company known as Bina Saudi Co Ltd, which has bid for jobs worth almost RM1 billion.

"Saudi Arabia is a new market for us and we plan to be a serious player as massive projects are coming up. We will be cautious as many Malaysian companies did not do well in the past," Tee said.
Locally, Bina Puri has been shortlisted for contracts for the new permanent low-cost carrier terminal in Sepang, the light-rail transit extension and the Gombak bus terminal projects.

Tee said 2010 augurs well for Bina Puri as it expects higher contribution from its RM2.4 billion ongoing projects, which are anticipated to provide a stable income until 2012.

He also expects better income from the group's property division, which is planning to launch four projects worth RM500 million in the Klang Valley, Sabah and Johor in the third quarter of this year.

It will launch Kiara 30, comprising 30 high-end bungalows in Bukit Segambut, medium-end apartments in Puchong, 23 high-end low-density houses in Medini in Iskandar Malaysia and Jesselton Hilltop condominium in Kota Kinabalu.

"Construction is our bread and butter. Nevertheless, we are looking to diversify and are negotiating for two power plant projects in Bangku Island, Indonesia, with the government. These are small projects worth RM7 million and each plant will produce 2,000 kilowatt of power," Tee said.

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Bina Puri hopes to be awarded LCCT job soon

By Sharen Kaur
Published in NST on May 6 2010

Bina Puri Holdings Bhd  hopes to get the letter of award to build the main terminal and satellite building of the new permanent low-cost carrier terminal (LCCT) in Sepang, Selangor, this month

The construction group had bid for the RM1.1 billion package in a 40:60 joint venture with UEM Group.

"We have done a lot of site preparation and believe we can finish construction in 17 months," Bina Puri group managing director Tan Sri Tee Hock Seng said after its shareholder meeting in Kuala Lumpur yesterday.

Airport operator Malaysia Airports Holdings Bhd (MAHB) had shortlisted five companies, including a tie-up between Sunway Construction Sdn Bhd and privately-held AHT Norlan-Carriage, IJM Corp Bhd and the Gadang Holdings-PPC joint venture, for the contracts.
To date, MAHB has awarded two contracts for the LCCT project.

The first, worth RM362 million, was given to WCT Bhd last December for site preparation, earthworks and main drainage. In January, a RM291 million contract was awarded to Gadang Bhd to carry out earthworks for the runway and taxiways.

Bina Puri also submitted a bid last month to build a RM150 million hotel on 2.4ha next to the LCCT. It is partnering Brem Holdings Bhd and Crystal Crown Hotels & Resorts in the bid.

The new LCCT will be 1.5km away from the KL International Airport compared with 20km for the existing LCCT.
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Loh & Loh expects to do better this year

By Sharen Kaur
Published in NST on May 5 2010
 
LOH & Loh Corp Bhd, controlled by UBG Bhd, hopes to do better in the current financial year ending December 31 2010 in view of new projects in hand.

The major jobs it has secured over the past 18 months are RM142 million worth of infrastructure works in Medini in Johor's Iskandar Malaysia and a RM273 million job in the Seremban-Gemas double-tracking railway project.

"We are a healthy company. We should continue to do well this year. Our property development is building up and we expect higher contribution from the division," its chief executive officer Jason Loh said.

Its new projects are Idaman Hills in Selayang, comprising 38 semi-detached homes and 142 bungalows, and The Peak, a high-end residential project in Bandar Sri Damansara, worth more than RM300 million.
Last year the company posted a net profit of RM27.5 million, 16 per cent more than in 2008.

Loh & Loh was set up in 1965 as a civil construction company by the late P. K. Loh.

The company's first contract was for earthworks for a housing project in Bangsar, Kuala Lumpur, for RM6 million.

The company grew quickly and over the past 45 years has built 15 dams, 48 water treatment plants and over 50 water intakes and pumping stations.

It has also constructed and installed over 250km of large diameter pipelines, and built sewerage plants, river gates, reservoirs, buildings, roads, bridges and golf courses.

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Loh & Loh to focus on water, energy projects

By Sharen Kaur
Published in NST on May 5 2010

BUILDER Loh & Loh Corp Bhd will focus its resources on water and energy projects like building hydroelectric dams for renewable energy, having bid for RM1.5 billion worth of jobs.

Chief executive officer Jason Loh said it wants to build hydro dams, which are more sustainable.

"Hydro dams, which are economically viable will become more popular as oil price increases. We are looking at several hydro projects in Malaysia," he told Business Times.

Loh & Loh and its Chinese partner Sinohydro Corp Ltd have a letter of intent for civil works worth RM828 million for the Hulu Terengganu hydroelectric project awarded in March this year by Tenaga Nasional Bhd.
It is believed that the joint venture is expected to get the letter of award for the project in August.

This will be Loh & Loh's maiden hydro dam project. It has built 15 dams in the past to retain water.

"We are focused in water (projects), which is our bread and butter. People know we are serious players but we believe energy will be a way forward for Loh & Loh," he said.

Loh said the company is also bidding for road, bridges and earthworks.

"I am bullish on the construction sector. There are signs of recovery every where. We have studied India, China and the Middle East but we think there is more to do here. We expect the government to announce several mega projects in the Tenth Malaysia Plan (2011-2015)," Loh said.

Loh said the company may stand to get several jobs as it has the competitive edge.

"As a company, we are the most complete. We have wholly-owned subsidiaries involved in mechanical and engineering, civil, operation and maintenance.

That is why we can do design and build projects. Our strength is our years of experience," Loh said.

The company is also looking to build its niche to rehabilitate and upgrade water treatment plants.

Loh & Loh is one of the pioneers in Malaysia in this field, having rehabilitated five plants in the past.

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SunCity keen to work with Keppel

By Sharen Kaur
Published in NST on May 1 2010

PROPERTY developer Sunway City Bhd (SunCity)  hopes to commence talks with Singapore's Keppel Corp Ltd over a possible future collaboration, following its agreement to jointly develop a RM5 billion residential project in Tianjin, China.

"Keppel is a global player and we would like to work with them on their projects internationally.

"There is no serious discussions as yet," SunCity international property development division managing director Ngian Siew Siong said.

SunCity yesterday signed a collaborative agreement with Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC) to develop the project on 41ha, which is within the 3,000ha Tianjin Eco-City integrated development.

SSTEC is the master developer for Tianjin Eco-City, a 50:50 joint venture between a Chinese consortium led by Tianjin TEDA Investment Holding Co Ltd and a Singapore consortium led by Keppel Group.

Ngian said the new project will create a platform for more collaborations for the firm, especially with Keppel in future.

SunCity has completed a six month feasibility study and a business model for the 41ha project.

A 60:40 joint venture company between SunCity and SSTEC will build 5,000 units of luxury homes comprising bungalows, villas, semi-detached and terraced houses and low-rise condominiums. There will also be a street mall with small office home office (SOHO).

Ngian said the five-year project will incorporate the concept of lifestyles of health and sustainability (Lohas) and sell mainly in the Chinese market.

Lohas is a concept dedicated to promoting and improving health and fitness, environment, personal development, sustainable living and social justice.

"We are bullish on the market as this is the first-of-its-kind Lohas-centric development in China," Ngian said.

He added that houses in the first phase of construction, which will start early next year, will be priced from RM500 per sq ft.

The project will be funded through bank borrowings.

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