Law student raking in the dough

A law student has launched a cake-baking business called Nerishs Delight taking the market by storm.

The co-founder of the business, Nerisha S. was interviewed recently and she talked about her cake-baking passion, and how she turned her interests into a business venture two years ago.

Nerisha has been baking cakes since the tender age of 9 learning the tricks and trades from her mother. At that time she was helping her mother, S.K., who has been running a business baking cakes for weddings, birthday parties and all other important occasions for over 20 years.

Nerishs Delight cup cakes

"I started baking very young. I find joy in baking. It is very therapeutic. I create what I want to create, however little or magnificent that cake might turn out to be. When I come home from high school, I used to bake cup cakes as it helped me relax and unwind. Then I started to bake cakes and it truly kept me fulfilled and energised. I will distribute the cakes to my family and friends for their honest feedback and that is how I build myself. Spreading joy is immensely powerful.

"I started to bake more cakes when I went to college as my college buddies found out I was baking, and they all started to order from me. That is when I decided to make a career out of this passion and thus set up Nerishs Delight," said Nerisha.

Finishing her law degree

Some of you might scoff at the idea of leaving the law to drive around dispensing baked goods but Nerisha is not going to do just that.

"I plan to finish my law degree and proceed with chambering. Education is the key to success. I hope then baking still provides the same amount of joy and creative freedom," she said.

Nerisha said since the movement control order (MCO) was implemented on March 18, her cake business has improved tremendously.

She said there is pent-up demand for her cakes from families and friends, including those in her neighbourhood and they are placing orders for a variety of cakes to have at home during their tea time and snacks amid the Covid-19 pandemic.

Nerisha said there is higher demand for Banana Cakes, Classic Carrot Cakes and Moist Chocolate Cakes, which her customers enjoy with a cup of Chai Masala or Earl Grey tea.

Nerishs Delight Fudgy Brownies

"There are some customers who order the cakes to have as dessert after their meal, which they like to top up with vanilla ice-cream. We do get a lot of orders for Fudgy Brownies and the orders are repeating. I have been baking Fudgy Brownies since my school days. They are a classic!," she said.

Hot selling items - Egg-less Cinnamon Rolls and Loaf Cakes

Nerisha said since the MCO was implemented, there has also been a lot of requests from her existing customers to bake Egg-less Cinnamon Rolls and according to her, they are rolling like hot cakes now.

"The cinnamon rolls are soft and they are topped with cheese. The sugar level has been reduced so that everybody can enjoy them," she said,

Another hot selling item is the Loaf Cake and Nerisha bakes quite a few variety, including Chocolate Cake, Orange Cake, Butter Cake and Marble Cake.

Delicious and affordable home-made cakes everyone can buy!

When asked about the number of cakes she can sell a month Nerisha said the current count is about 180-200 cakes, as versus to 30-40 cakes a month before the MCO.

Her selling price? RM30 to RM35 for the cakes (7" x 7") and RM20.00 for the Loaf Cakes, probably the best deal in the market by far!

"I get orders daily. Sometimes it is hard to manage but I am glad that my mum and siblings help me out. I am glad to have the full support from my family," she said.

Nerisha said occasionally, she gets request from customers to bake a cake which is not already on her list and she does accommodate them.

Moist Chocolate Cake 

"They usually ask for Red Velvet or Cheese Cakes to have for a birthday celebration or other important gatherings. These cakes are bigger and they costs more. There have been more orders since the conditional MCO," she said.

Nerishs Delight is open for bookings made two days in advance. You can order the Cakes, Loaf Cakes and Egg-less Cinnamon Rolls for your teatime break, as a desert after your meal, or for that special occasion that is coming up, including festive seasons. She will be adding more varieties, including doughnuts for parties and gatherings. Food catering, too, perhaps?

My verdict?

I was given a slice of the Banana Cake, the Red Velvet Cake and also a piece of the Egg-less Cinnamon rolls and they were to die for. So soft, moist and rich. My birthday is coming up and I know now where to order from. Thank you Nerishs Delight for providing options, fantastic good tasting cake options!

How to order?

To order from Nerishs Delight, WhatsApp : 010 2360440 (place orders two days in advance).

Delivery coverage and charges apply. For Bangsar, Damansara and Subang it is RM10 while for Petaling Jaya (SS 1, 2, 3, 4, 5) it is RM5.

WATCH THE VIDEO ON BAKING A CLASSIC BUTTER CAKE

Dorsett takes the lead to reopen two hotels, amid CMCO

Dorsett Hospitality International has reopened the doors for Dorsett Kuala Lumpur and Dorsett Hartamas and is also accepting bookings for Dorsett Residences Bukit Bintang. Courtesy Photo

By Sharen Kaur, NST Property

Dorsett Hospitality International (DHI), one of Asia's fastest-growing hotel groups is taking the lead to reopening the doors for Dorsett Kuala Lumpur and Dorsett Hartamas, following the conditional movement control order (CMCO), effective May 4.

The CMCO, or phase five of the MCO has begun to see almost all economic sectors reopened this week.

Malaysia imposed the MCO to restrict domestic and international travel on March 18 with the aim of curbing the spread of Covid-19.

This move had severely impacted all industries, including hoteliers who are bleeding red ink.

At least eight hotels in Penang and Perak have confirmed that they are shutting down permanently.

It was reported that from January to June this year, hotels are looking at potential losses of RM3.3 billion from room revenue alone, assuming that the MCO will end on April 28.

During the first phase of the MCO from March 18 to 31, hotels lost RM510.75 million in room revenue, while in the second phase from April 1 to 14, losses are estimated at RM570.35 million.

Malaysian Association of Hotels (MAH) chief executive officer Yap Lip Seng said recently that the soft approach of relaxing Covid-19 restrictions step-by-step is needed to prepare the tourism industry to operate according to the new normal.

He said based on a recent survey by MAH, the association is expecting average occupancy of less than 10 per cent for the month of May, about 16 per cent for June, and 20 per cent in July.

With the CMCO in its third day now, hoteliers are ready to resume business operation, and are offering up to 40 per cent discounts to get tourists back into the market.

Dorsett Kuala Lumpur and Dorsett Hartamas are offering their post-MCO room packages with up to 35 per cent discounts, aimed at boosting the local market and to generate revenue to sustain their workforce.

Dorsett Hartamas has launched the ‘Book Today For Tomorrow’ package, offering 22 per cent off for all bookings made directly via their website.

Dorsett Hartamas has launched the 'Book Today For Tomorrow' package, offering 22 per cent off for all bookings made directly via their website.

Booking is open up till June 30, 2020, for stays from now till July 31, 2020.

Guests can also opt for the Super Saver package offering up to 35 per cent off for all direct bookings made via the hotel's website and enjoy free cancellation up to 14 days prior to arrival.

Super Saver is recommended for guests looking for a true hotel stay deal and is open for bookings up till June 30, 2020, for stays from July 15 up till December 20, 2020.

Dorsett Kuala Lumpur is offering up to 29 per cent off their best available rates for all bookings made directly via the hotel's website. This package is available from now till September 30, 2020.

For guests opting to stay at Dorsett Residences Kuala Lumpur, a further 10 per cent discount will be accorded for stays of seven nights and above.

KLCCP hoping for better times ahead

KLCC Property Holdings Bhd Stapled Group invests, develops, owns and manages a portfolio of premium assets comprising office, retail and hotel properties in Kuala Lumpur. AFP Photo

Published by NST Property

KLCC Property Holdings Bhd (KLCCP) says 2020 started negatively for the group and earnings were impacted by the unprecedented Covid-19 crisis.

Its chief executive officer Datuk Hashim Wahir said the group is likely to feel the impact of Covid-19 for several months to come as consumer sentiment remains cautious across all business segments.

For the three months ended March 31, 2020, KLCCP's net profit dipped by 3.8 per cent to RM176.9 million year-on-year (YoY) mainly due to the adverse impact in the hotel segment arising from the travel restrictions imposed from the Covid-19 outbreak and movement control order (MCO).

However, revenue increased marginally by 0.3 per cent to RM354.6 million YoY, mainly supported by the resilience of the office segment and additional rent commencement from the new tenants in the anchor-to-specialty reconfigured space.

There were positive contributions from office (42 per cent), retail (37 per cent), and management services segments (13 per cent), which had offset the significant decline in hotel (eight per cent) revenues.

KLCCP and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group is Malaysia's largest self-managed stapled security that invests, develops, owns and manages a portfolio of premium assets comprising office, retail and hotel properties in Kuala Lumpur.

Its portfolio has seven properties with a gross floor area of 11.9 million square ft, and worth a total of RM15.9 billion.

Hashim said the group expects the performance of the office segment to remain stable backed by the triple net lease agreements and long term lease.

The hotel segment is expected to be adversely affected for the rest of the year, while for retail, the group remains cautious.

"Suria KLCC continues to operate in a challenging environment, taking into consideration the potential changes in consumer behaviour and sentiments post-MCO. In response to the conditional MCO enforcement, Suria KLCC resumed operations, albeit short business hours," said Hisham.

He said, despite the looming uncertainties, the group will strive to remain resilient and enhance tenants, shoppers, and hotel guest communications in complying with the new normal.

Office segment

KLCCP's office portfolio consists of the Petronas Twin Towers, Menara 3 Petronas, Menara ExxonMobil, and Menara Dayabumi (an integrated office and retail development located outside the KLCC precinct).

This segment reported stable performance with a marginal decrease in pre-tax profit arising from one-off repair and maintenance expenses recorded during the quarter. Revenue was up 0.5 per cent to RM149.6 million, while pre-tax profit fell 0.9 per cent to RM133.9 million.

KLCCP said these properties continued to anchor the performance of the group, backed by their long-term, locked-in leases.

The offices remain open for O&G tenants at the twin tower buildings.

ExxonMobil Exploration and Production Malaysia Inc, the anchor tenant at Menara ExxonMobil, renewed the lease in February 2020 for the next three-year term of the 18-year lease tenure.

KLCCP also improved the conditions at Menara Dayabumi, such as giving the facade a makeover. The group expects this will further boost visibility to retail offerings together with the 10-metre new pedestrian bridge connecting Menara Dayabumi to Central Market.

"Our office portfolio remains stable backed by its long-term leases which form the foundation to the group cash flow," it said.

Retail

The retail segment, represented by Suria KLCC and the retail podium of Menara 3 Petronas saw a 3.2 increase in revenue YoY to record RM130.9 million. Pre-tax profit also increased by 4.9 per cent to RM100.7 million.

KLCCP said this was mainly due to the increase in rental contributed by the new specialty tenants following the partial completion of the reconfiguration exercise at the mall.

Phase 1 of the reconfigured space was launched on January 24, 2020, and it had about 50 new tenants.

The opening of Phase 2 of the refurbishment which entails the second half of the food court is expected to be delayed in light of the MCO.

The group said the mall has been supportive of its tenants and retailers and has extended rental assistance on a case-to-case basis to ensure the retailers can weather the crisis, recover quickly and rebuild their loyal customer base.

Hotel

In the hotel segment, the group said that the quarterly performance of Mandarin Oriental Kuala Lumpur (MOKL) was severely impacted by the Covid-19 outbreak and the implementation of MCO with revenue declining by 33.8 per cent YoY to RM28.1 million.

Pre-tax profit fell 100 per cent YoY to minus RM8.8 million.

The hotel is practically closed except for the existing and long stay guests at apartments.

KLCCP said January performance saw a subsequent decline following the escalation of public health issues and halting of travels in mid-February 2020, impacting occupancy and the contribution from meetings, incentives, conferences, and exhibitions (MICE).

It said a series of cost containment measures have been implemented including suspending non-essential operating and capital expenditures, temporary closure of rooms and amenities by floors, including utility cost-saving, review of hotel's labour scheduling with minimal staffing, and review of operational contracts with third-party suppliers and external contractors.

With the CMCO enforcement, MOKL is partially open with its restaurants offering a smaller menu while all the spa and wellness facilities remain closed. The hotel rooms are also open but are restricted to only sectors outlined by the government.

MUI's four-star London hotel off the market

Malayan United Industries Bhd (MUI) has owned the 389-bedroom Corus Hotel Hyde Park in London since 1997. It bought the property for £44 million. NST/FILEPIX

By Sharen Kaur for NST Business

KUALA LUMPUR: Malayan United Industries Bhd (MUI) has officially taken Corus Hotel Hyde Park in London off the market due to bad timing, says group chairman and chief executive officer Andrew Khoo Boo Yeow.

"We feel it is not an appropriate time to sell. The group's view is that a trophy asset in a prime location in Central London will always hold its value, particularly in the long term," Khoo told the New Straits Times.

He added that the group was open to selling the hotel at the right price.

MUI has owned the 389-bedroom hotel since 1997. It bought the property for £44 million.

The hotel is set in a listed 200-year-old Georgian mansion near Lancaster Gate, central London.

It was reported in 2014 that MUI was looking to sell the hotel for £200 million (RM1.07 billion) but the group denied this.

There was news again on the hotel sale after the UK media saw a "for sale" sign over the property and this time MUI confirmed the report in a filing with Bursa Malaysia in May last year..

MUI said it was seeking to sell the hotel, which is in line with the group's strategy to rationalise the business, pare down its overall bank borrowings, and unlock value for its shareholders.

The group said its indirect wholly-owned unit Corus Hotels Ltd (CHL) had appointed N.M. Rothschild & Sons Ltd to explore strategic options for the asset and to ensure that only credible international investors are shortlisted.

The sale of Corus Hotel Hyde Park could have resulted in a gain on disposal of over RM800 million in MUI's profit or loss statement, based on the hotel's net book value of RM256.47 million as at June 30, 2018.

Khoo said MUI would spend £20.38 million to refurbish and renovate the four-star London property, which will raise its value.

MUI, via its indirect unit Plaza On Hyde Park Ltd, has secured two term-loan facilities totalling £100 million (RM539.3 million).

"Prior to Covid-19 the hotel was achieving record numbers in terms of Ebitda (earnings before interest, taxation, depreciation and amortisation) performance.

"With the overall decline in travel numbers this is an opportunity for us to use the downtime to upgrade the hotel. This will enhance the overall value and performance of the hotel, especially when business gets back to normal," he said.

For the six months ended December 31, 2019, MUI recorded a lower revenue of RM205.3 million and a loss of RM11.3 million compared to a revenue of RM213.8 million and pre-tax profit of RM12.3 million the year before.

MUI has businesses in hotel operation, retailing, food, property development and investment.

Revenue for the hotel division fell by 4.2 per cent to record RM92.1 million compared to the preceding quarter, mainly due to lower room occupancy and average room rate from the hotels in the UK.

Despite the lower revenue, the division's pre-tax profit increased 3.7 per cent to RM12.74 million.

MUI has five hotels in London and two in Malaysia.

Each asset has its own market valuation but total the portfolio was worth around £235 million collectively, said Khoo.