Abu Dhabi's Tasweek buys Superboom stake

Abu Dhabi-based Tasweek Real Estate Marketing and Development is buying a minority interest in property developer Superboom Projects Sdn Bhd.

Superboom is developing the RM250 million high-end condominium project named The Haven Lakeside Residences in Ipoh, Perak.

The deal was signed last weekend. Superboom chief executive officer Peter Chan declined to specify the stake size nor the amount paid by Tasweek.

"This is a strategic alliance between us and Tasweek to take on more projects in Malaysia. They were very impressed with our development and have decided to invest in Malaysia," said Chan.

He added that the group will provide funds for the project and market the units in the Middle East.

The deal comes just a week after Superboom appointed Best Western International Inc, one of the world's largest hotel chains, to manage, market and lease the units internationally.

Set for completion in 2013, The Haven will see its three 26-storey towers with 165 units each becoming the tallest buildings in Perak.

China's Beijing Construction & Engineering and Bina Puri Holdings Bhd have been given a contract worth RM109 million to construct the buildings.

According to Chan, 85 per cent of Block A and 60 per cent of Block C have been sold to property investors in Malaysia, Singapore, Hong Kong, India, Europe and the Middle East in the last nine months.

Block B was launched last weekend and he expects half of the building to be sold within three to six months.

Buyers are attracted to The Haven as it overlooks a 1.6ha private natural lake with running water, a 14-storey high monolithic limestone rock formation, and the existing 280 million-year-old limestone hills.

The Haven is aimed to be among the first developments to embark on all feasible avenues of harvesting nature's renewable and sustainable resources such as wind, water, bio-gas and pro-active mechanical resources to power and maintain common areas.

By Business Times

Sunway REIT targets RM7bil asset value

PETALING JAYA: Sunway REIT Management Sdn Bhd, the manager for Sunway REIT, is looking to make some sizeable and meaningful asset acquisitions in the medium term and widen the REIT's presence in the country.


Datuk Jeffrey Ng says one of the acquisitions involved a shopping mall from a third party vendor. However, he expects more competition for good assets, especially with the emergence of more well capitalised REITs in the country.

Chief executive officer Datuk Jeffrey Ng said one of the acquisitions involved a shopping mall from a third party vendor.

Ng said one of the growth plans for Sunway REIT was to expand its asset value to RM7bil in the next five to seven years.

However, he expected more competition for good assets, especially with the emergence of more well capitalised REITs in the country.

“Besides shopping for good assets from third parties, Sunway REIT also has the first right of refusal for Sunway City Bhd's (SunCity) assets which guarantees a ready pipeline of assets for injection into the trust,” he told StarBiz.

Among the new commercial projects underway by SunCity include a number of office towers and office cum retail projects in the Klang Valley.

A new commercial project, Sunway Velocity in Cheras will feature office suites, service apartments, and a shopping mall.

“Sunway REIT will remain as a a retail-focused REIT with an asset portfolio that comprises 60% of retail assets and the balance will be a mix of hospitality, office buildings and other commercial assets,” Ng added.

The trust's eight assets are Sunway Pyramid Shopping Mall, Sunway Carnival Shopping Mall, SunCity Ipoh Hypermarket, Sunway Resort Hotel & Spa, Pyramid Tower Hotel, Sunway Hotel Seberang Jaya, Menara Sunway and Sunway Tower.

Sunway REIT was listed on Bursa Malaysia on July 8 last year.

For the second quarter ended Dec 31, 2010, Sunway REIT recorded gross revenue of RM85.3mil compared with RM72.4mil in the previous quarter. Net property income rose to RM62.8mil from RM55.2mil previously.

The trust would be paying 1.75 sen per unit to its unitholders, a 15.9% increase over the payout in the first quarter.

Total income for distribution amounted to RM46.9mil from realised net profit of RM44.7mil, which is equivalent to a 105% payout ratio.

Ng said the strong second quarter performance was mainly due to a 17.1% increase in the rental renewal rates for the next three years in Sunway Pyramid Shopping Mall.

“The vibrancy of and business synergy within Sunway Integrated Resort City (previously Bandar Sunway) is a key driver to the double-digit rental growth recorded for the retail space at Sunway Pyramid,” he said.

Ng said the rental reversion of Sunway REIT's portfolio of 16% was stronger than other REITs in the country and the improved performance starting this quarter would flow through to unitholders over the coming years.

An analyst with a local brokerage said it was important for Sunway REIT to pursue a consistent asset acquisition strategy to enhance its yield accretive potential.

“It must buy assets that offer potential for higher net lettable area and spruce up the properties to improve the rental rates. Sunway REIT is pretty much a yield play and unitholders mostly invest in the REIT for its dividend yield of 7% to 8% a year,” the analyst added.

By The Star

LAMPARAS PARA LAS HABITACIONES INFANTILES

Elegir una bonita lámpara para el dormitorio de nuestros niños es una tarea agradable pero a la vez hay que saber escoger bien. Es cierto que a veces no estamos conformes al elegir una apropiada que sea de nuestro  gusto  y de los niños .

Por eso hemos pensado en usted, nos referimos a las lámparas que nos presenta Decoiluzion, una tienda on line, que no solo tiene una diversidad de artículos infantiles, sino tambien lámparas para cuarto de niños muy novedosas. 

Aquí les presentamos algunos de sus modelos:

Lámpara de techo Mariposa estival

Lámpara de recho mariposa estival. Materiales: folio de lámpara, caja de techo metálica. E 27, máx. 60 W, para 230

Aplique Flores de cerezo

 Aplique Flores de cerezo. Material: folio de lámpara, soporte de metal. E 14, máximo. 25 W, 230 V.

Lámpara de techo Rosie

Portalámparas E 27, bombilla de ahorro energético 12 W, 230 V. Materiales: pantalla de metal.

Lámpara de techo Mobilo

 Lámpara de techo Mobilo. E 27, bombilla ahorra-energía 20 W, 230 vol. Material: folio de lámpara, haya, soporte de metal

Plafón lámpara Araña

Lámpara de techo y se regula en altura por dos poleas. E 27, 230 V. Material: madera de abedúl comprimida, haya.

Estos y otros productos para niños los encuentra en Decoiluzion