Archive for April 15th, 2008
Posted by luxuryasiahome on April 15, 2008
SHARES of Fraser & Neave have received a boost after two ‘buy’ recommendations from Kim Eng Research and DBS Vickers.
Its shares surged 18 cents or 3.8 per cent on Friday to close at $4.87.
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Kim Eng initiated coverage of F&N with a $6 target price in a report on Thursday, saying: ‘The market is not fully recognising the value of F&N’s property division.’
The ‘buy’ call aside, Kim Eng had much to say about how F&N could improve its operations. Its report suggested that the conglomerate do more to reconnect with its food and beverage brands, because it is ‘not fully enhancing shareholder value by continuing to focus so heavily on property’.
The report also noted that with former SingTel CEO Lee Hsien Yang’s having come on board as F&N’s chairman, and with Temasek Holdings’ involvement as a substantial shareholder, ‘there will never be a better time than now to shake things up by more than a bit’.
Kim Eng proposed two strategies for F&N. One is to sell its property assets to a player ‘who knows the real value of its property assets and capabilities’. Possible buyers are said by Kim Eng to be CapitaLand, which shares the same asset profile and strategy with F&N, and Far East Organization, Singapore’s largest private residential developer.
When contacted, a CapitaLand spokesperson said: ‘CapitaLand is not considering buying F&N’s property arm.’ Far East Organization was unable to provide a response.
According to Kim Eng, the other strategy is for F&N to break up and list each of its units separately, The report said: ‘It is not clear which business the market is giving a premium to and which is being discounted.’
The second shot in the arm for F&N’s shares came from DBS Vickers, which set a target price of $5.85. Among other things, its Thursday report said F&N’s management is confident of preserving strong margins for property development and expects to maintain profit-growth plans for the food and beverage business.
Despite the rise in F&N’s share price on Friday, when 1.4 million shares changed hands, the stock is still some distance away from its $5.80 high since the start of the year.
Source : Business Times – 14 Apr 2008
Posted in Developer News | Tagged: Developers, F&N, Fraser & Neave | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Malaysian state property developer UEM Land is in talks with Singapore real estate firms about joint projects in a US$105 billion industrial and tourism zone in Malaysia’s south.
Malaysia unveiled a blueprint in 2006 to transform the southern tip of Johor state into a regional economic zone for industry, logistics, trade and leisure.
‘We are in various stages of discussion with Singapore interests,’ UEM Land managing director Wan Abdullah Wan Ibrahim told Reuters in an interview on the sidelines of a real estate event in Singapore.
He said that the involvement of Singapore firms – in particular those linked to the government – would boost investor confidence in the Iskandar Malaysia project, just a few minutes drive across the narrow causeway linking the two countries.
Singapore developers that are part-owned by state investors Temasek include CapitaLand and Keppel Land.
UEM Land is the flagship property company of the UEM Group, formerly called United Engineers Malaysia, which is in turn owned by Malaysia’s state investment company Khazanah Nasional.
Under a revamp of the group announced earlier this year, UEM will list on the Malaysian stock exchange in September by taking over the listing status of UEM World, which last year reported a 4-fold rise in net profit to RM939 million (US$297 million).
Mr Wan Abdullah said UEM Land aimed to be a regional developer with projects in neighbouring countries by 2010 but its immediate priority was to develop its 9,713-ha Nusajaya development in the Iskandar region.
‘There are opportunities today but the board feels we should not divert our attention…but we definitely have the desire to be a global developer.’
Malaysia announced in 2006 plans to set aside 2,200sq-km of land in Johor for a special economic zone that would provide residents and companies in neighbouring Singapore with land for leisure and industry.
Covering an area three times the size of Singapore, Iskandar has attracted Middle Eastern investors including Dubai World as well as multinational companies such as General Electric.
UEM is overseeing the development of a 9,712ha site within the development. — REUTERS
Source : Business Times – 15 Apr 2008
Posted in Developer News, Overseas Property | Tagged: Capitaland, IDR, Iskandar Development Region, Keppel Land, Malaysia Property, Singapore Firms, UEM Land | Leave a Comment »
Posted by luxuryasiahome on April 15, 2008
Singapore investors have been snapping up the properties within the Iskandar Development Region (IDR) in the Malaysian state of Johor, according to Malaysian property firm UEM Land.
UEM said Singapore investors have so far accounted for 95% of the industrial properties sold on the 24,000-acre plot of land in Nusajaya. The developer said the majority of industrial property interest has come from small and medium businesses.
Singapore investors also make up for 50% of residential sales there.
UEM Land said it is currently in further discussions with Singapore firms for larger joint projects in the IDR, to keep ahead of competition.
“It’s not just one man’s dream; it’s founded on very strong foundations, one of which is Singapore. How do we complement Singapore? At the end of the day, these two governments need to collaborate. Because if we don’t, India and China will make us irrelevant in the future, so we’ve got to collaborate,” said Wan Abdullah Wan Ibrahim, MD of UEM Land.
The 24,000-acre plot of land, just a 10-minute drive over the Second Link Bridge from Singapore, Is set to accommodate some 500,000 people when completed in 2025, up from the current 75,000 already there.
Since its launch early last year, 128 acres of industrial land has already been sold and UEM is aiming to sell a further 180 acres this year.
The largest investment to date came from Middle Eastern company Limitless, who is in a joint venture with UEM to pump some S$100 million to develop a 111-acre plot of land.
The developer is looking to spread its wings and gain further investment from overseas, but has noted some concerns.
“We notice that the prime concern, especially coming out of Singapore, is safety and security. So we decided that we need to address the concern,” said UEM Land’s MD.
To address the issue of security, UEM will be collaborating with General Electric to create a security masterplan. – CNA /ls
Source : Channel NewsAsia – 15 Apr 2008
Posted in General, Overseas Property | Tagged: IDR, Iskandar Development Region, Malaysia Property, Singapore Buyers, UEM Land | Leave a Comment »
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Kim Eng initiated coverage of F&N with a $6 target price in a report on Thursday, saying: ‘The market is not fully recognising the value of F&N’s property division.’
