To all tai kors and tai cheh,
Anybody have any information to share pertaining to Sunrise's latest launch? I understand it was launched a few weeks back but since then I'd not manage to catch any updates from forums or newspaper? Sunrise's projects usually have tremendous sales during their launch but how come for this project so quiet? Maybe they didn't sell well? So if anybody know any information regarding this project or their future projects, please kindlyu share with us all in this forum.
Thanks and Regards!

Also known as MK 28, at corner or Jalan Kiara and Jalan Desa Kiara. RM750/sf, minimum size 2.5ksf. About 400+ units in 2 blocks. Soft launched. About 100 units sold as of 2 weeks ago. I think the design is very modern and nice.

The days where Sunrise could finish selling everything during soft launches r long gone......

might not be entirely true bro pai. i believe this was their latest launch after the highly successful mk10 and mk11. but i guessed as much since if sales were really good, it would have been published in paper liao. but 100+ units is still a respectable figure given the price of the units, right?
i recall they publish their yield and appreciation record previously and it was like 12% yield and 30% appreciation for the past 5 years or so. pretty impressive huh? but mont kiara is like mont rojak nowadays.
there are suncity, asiaquest, ireka, ynh, mitrajaya, and god knows who else jumping in like mad.
but sunrise still delivers quite astounding products. understand that mk10 holds the record for the best conquas score for highrise in malaysia currently.

btw, does the public have the right to go visit their showroom or by appointment only? me paiseh to walk in as i'm no millionaire ...... yet!

thanks for all your updates.

PS: anybody interested in swiss garden units? developer just released their premium units. please PM me if interested. thanks.

kochin, think last time Sunrise dont even need to advertise, and usually most units were sold out before it was even made to public.....

but that was many years ago lah...... now with the crook helming Sunrise, think quality will go down the drain..............eventually.....

So are u from a competing developer's marketing team trying to gain some info on the current sales of Sunrise?

which crook is that

i think ah pai kor is referring to TKO who took over the previous management.

me from competing developer? hahaha. nope. i happen to receive pjd's newsletter and referral have some commission. that's all.

Crook? Dunno. But Michael Yam is still big shareholder. I think he's still involved in the background.



No lah bro, Sunrise projects need to advertise wan lah in order to sell all. Just that they "almost" never needed to build showroom to sell....until a few years ago as more and more competition comes on. As with all developers, all "launches" are subjective....you don't know which is the real launch.....got pre-booking, booking, pre-launch, soft-launch then only "actual" launch! But one thing is for sure.....50% of buyers in sunrise are repeat buyers!

And current launches are priced that only the top 5% of the population can afford em. These are not "condominiums" anymore....its literally 460 units of bungalow!


minolta

This post has been edited by Minolta: Jan 4 2010, 10:52 AM

Michael Yam heads a consortium which owns 19% of Sunrise's shares, at that time.

But he was sacked from the board of directors bcos of some 'exposed' under-table dealings.

MK10 is like a hotel already.
imagine this MK28 then..

Like a hotel means? Occupancy rate fluctuate?

Means ..CANTIK

Extract from the edge:

"Sunrise’s unbilled sales poised to rise again

Tags: higher unbilled sales , sales projection , Sunrise


By The Edge Financial Daily
Tuesday, 12 January 2010 14:45

Sunrise Bhd

(Jan 11, RM2.17)
Reiterate buy at RM2.20, target price at RM3.30: We were pleasantly surprised by the respectable response to the much-awaited launch of MK28 condominium. The project, which was soft launched in mid-December 2009, has achieved more than 50% sales booking to date. Average selling price came in at RM780 per sq ft, exceeding our expectation by 30%.

Going forward, Sunrise will focus on converting these sales bookings to firm sales as well as the construction of the main building, with the substructure already completed.

With sales of RM147 million already achieved in 1QFY10 and sales bookings of around RM600 million, mainly from MK28, Sunrise will have no problem achieving our sales projection of RM657 million for FY10. Furthermore, we believe the downtrend in unbilled sales is at an inflection point now with potential to top RM1.4 billion in the next few quarters.

Current unbilled sales stood at RM863.7 million. The expected strong sales for MK28 will underpin earnings visibility for FY10 and FY11. Earnings visibility for FY12 also depends very much on the launch and sale of new projects.
Barring any landbank acquisition, net gearing is expected to decline to a more manageable 0.16 times to 0.26 times over the next three years as cash is collected from the build-then-sell MK16B and the retention sum is released for recently completed MK Banyan and MK Meridin projects.

As buyers normally take three months to formalise sale and purchase agreements, we believe Sunrise will start reporting higher unbilled sales in its 3QFY10 results in May. Higher sales should already start flowing through in February itself when the company releases its 2QFY10 results.

Other potential earning catalysts include the sale of investment properties, acquisition of new landbank, en bloc sale of Solaris Tower and the reinstatement of 35% dividend payout policy, which will see dividend yield increase from 1.7% to 4.8%.

We reiterate our buy call and target price of RM3.30 based on 10 times price/earnings (P/E) to CY10 earnings per share (EPS) realisable net asset value (RNAV) of RM3.44. Trading at just 7.1 times forward P/E, Sunrise’s valuation is undemanding as compared to sector average forward P/E of 13.8 times.

We believe the impending rise in unbilled sales levels coupled with the current buoyant sentiment in the property market will spur investor interest in Sunrise again. — ECM Libra Investment Research, Jan 11

This article appeared in The Edge Financial Daily, Jan 12, 2010. "


So, ah pai kor, are these numbers still impressive or what? Sunrise still king in mont kiara.

Latest check, about 50% sold.

What if compare with Mont Kiara Desinger Suite? which is better?

What are the selling points for these two condo?

thanks for advising...

KDS vs MK28 = Proton Waja vs CLK 200

Cannot compare, sure is Mk28 nice...kds 400-500k , Mk28 million...

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Ops...I am new to MK. What do u think about KDS? rental and appreciation rate? occupancy rate? easy to rent? Who is staying there mostly? About Taylors student?

The main question is whether can Sunrise buyers make the gains they use to make 5 years back.......not who is king etc

My guess is -----------> Unlikely

u can wait for mah sing one at dutamas launch soon.
but beside highway.