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> TRX RESIDENCES @ TUN RAZAK EXCHANGE, KL International Financial District+MRT

tat3179
post Nov 8 2013, 10:01 AM

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QUOTE(Skywing1981 @ Nov 8 2013, 09:48 AM)
Estimated price of RM400k is definitely neither low cost nor that affordable to most Malaysian tongue.gif
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Well, everything's relative isn't it? biggrin.gif


llim.kings
post Nov 8 2013, 10:57 AM

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whhere is the TRX galleria ?

QUOTE(accetera @ Nov 8 2013, 01:14 AM)
The TRX Galleria Now Open [Launches Will Be Held Here]
Source: http://www.greenbuildingindex.org

user posted image

user posted image
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skyp
post Nov 8 2013, 11:24 AM

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I think its located at Jalan Imbi? Nearby Honda showroom
I remember passing by there and saw this place before.
boyslikeboys
post Nov 8 2013, 11:30 AM

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QUOTE(skyp @ Nov 8 2013, 11:24 AM)
I think its located at Jalan Imbi? Nearby Honda showroom
I remember passing by there and saw this place before.
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Units launching soon???
skyp
post Nov 8 2013, 11:51 AM

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QUOTE(boyslikeboys @ Nov 8 2013, 11:30 AM)
Units launching soon???
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Not too sure. Never been inside before.

accetera
post Feb 12 2014, 05:06 PM

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Over RM3,000 psf for TRX land
By Charles Yong of theedgemalaysia.com
The Edge Property | Wednesday, 12 February 2014 15:01
http://www.theedgeproperty.com/news-a-view...r-trx-land.html

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) is setting a reserve price of above RM3,000 per sq ft (psf) for its flagship Tun Razak Exchange (TRX) development, given the recent highs fetched within the central business district, a source told The Edge Financial Daily.

Assuming a sale price of RM3,000 psf and a developable area of 60% for the 70 acres (28.33ha) of prime land, TRX could be revalued at RM5.49 billion. As at March 31, 2012, the land was valued at RM1.78 billion on 1MDB’s books. The government-linked investment company bought the land from the government for RM320 million (or RM105 psf), according to media reports.

While there are already two transactions which have reached such soaring prices in Kuala Lumpur’s central business district — Singapore’s Oxley Holdings bought a Jalan Ampang plot in November at RM3,325 psf and KSK Group Bhd acquired a tract near Jalan Conlay in December at RM3,299 psf — investors who are keen to buy a plot at TRX, which is meant to be an international financial hub, would have to pay a similarly high price, if not higher.

Oxley acquired the Jalan Ampang plot before securing the necessary approvals for development. TRX plots, on the other hand, come not only with approvals, but with wide-ranging incentives such as tax breaks, allowances, cost deductions, and stamp duty exemptions.


In December, 1MDB said it was seeking investors to develop Stage 1 of TRX, consisting of a signature tower, up to five residential towers and two five-star hotels and a retail mall. It plans to continue holding equity interest in the majority of TRX’s developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower.

TRX plans to continue holding equity interest in the majority of its developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower

However, many local developers and the public have expressed concern that the state-backed mega-project would sponge off demand for offices in the surrounding area.

Asset revaluations come rather often in 1MDB, to the extent that opposition leaders have called the state investor’s profits “paper gains”.

It bought the 70 acres from the government for RM320 million (or RM105 psf), according to media reports, and had by March 2010 revalued it to RM820 million. By 2012, it revalued it again at RM1.78 billion. The company would not be financially sound if not for such revaluations as well as loan injections, says Pakatan Rakyat.

Any significant revaluation to TRX would prove a boon to the debt-laden company. Its gearing ratio as at March 31, 2012 stood at 7.24 times.

According to media reports, it used US$1 billion (RM3.49 billion then) of the proceeds to invest in a joint venture with PetroSaudi International Ltd, a privately owned oil company. The following year, it sold its 40% stake in the venture to PetroSaudi for US$1.2 billion. However, the sale was not paid for in cash but in a bullet bond expiring in 2021 with an interest rate of 8.67%. 1MDB then lent a further US$500 million to PetroSaudi in another bullet bond expiring in 2015.


This article first appeared in The Edge Financial Daily, on February 12, 2014.
tat3179
post Feb 12 2014, 07:36 PM

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QUOTE(accetera @ Feb 12 2014, 05:06 PM)
Over RM3,000 psf for TRX land 
By Charles Yong of theedgemalaysia.com  
The Edge Property | Wednesday, 12 February 2014 15:01
http://www.theedgeproperty.com/news-a-view...r-trx-land.html

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) is setting a reserve price of above RM3,000 per sq ft (psf) for its flagship Tun Razak Exchange (TRX) development, given the recent highs fetched within the central business district, a source told The Edge Financial Daily.

Assuming a sale price of RM3,000 psf and a developable area of 60% for the 70 acres (28.33ha) of prime land, TRX could be revalued at RM5.49 billion. As at March 31, 2012, the land was valued at RM1.78 billion on 1MDB’s books. The government-linked investment company bought the land from the government for RM320 million (or RM105 psf), according to media reports.

While there are already two transactions which have reached such soaring prices in Kuala Lumpur’s central business district — Singapore’s Oxley Holdings bought a Jalan Ampang plot in November at RM3,325 psf and KSK Group Bhd acquired a tract near Jalan Conlay in December at RM3,299 psf — investors who are keen to buy a plot at TRX, which is meant to be an international financial hub, would have to pay a similarly high price, if not higher.

Oxley acquired the Jalan Ampang plot before securing the necessary approvals for development. TRX plots, on the other hand, come not only with approvals, but with wide-ranging incentives such as tax breaks, allowances, cost deductions, and stamp duty exemptions.


In December, 1MDB said it was seeking investors to develop Stage 1 of TRX, consisting of a signature tower, up to five residential towers and two five-star hotels and a retail mall. It plans to continue holding equity interest in the majority of TRX’s developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower.

TRX plans to continue holding equity interest in the majority of its developments through joint ventures. To date, it has announced only one partnership, with China’s EXIM Bank to develop the signature tower

However, many local developers and the public have expressed concern that the state-backed mega-project would sponge off demand for offices in the surrounding area.

Asset revaluations come rather often in 1MDB, to the extent that opposition leaders have called the state investor’s profits “paper gains”.

It bought the 70 acres from the government for RM320 million (or RM105 psf), according to media reports, and had by March 2010 revalued it to RM820 million. By 2012, it revalued it again at RM1.78 billion. The company would not be financially sound if not for such revaluations as well as loan injections, says Pakatan Rakyat.

Any significant revaluation to TRX would prove a boon to the debt-laden company. Its gearing ratio as at March 31, 2012 stood at 7.24 times.

According to media reports, it used US$1 billion (RM3.49 billion then) of the proceeds to invest in a joint venture with PetroSaudi International Ltd, a privately owned oil company. The following year, it sold its 40% stake in the venture to PetroSaudi for US$1.2 billion. However, the sale was not paid for in cash but in a bullet bond expiring in 2021 with an interest rate of 8.67%. 1MDB then lent a further US$500 million to PetroSaudi in another bullet bond expiring in 2015.
This article first appeared in The Edge Financial Daily, on February 12, 2014.
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Why do I got the feeling that this project will become a white elephant with 30 percent occupancy when it is completed?

3000 psf...good luck...

This post has been edited by tat3179: Feb 12 2014, 07:36 PM
accetera
post Feb 12 2014, 11:16 PM

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QUOTE(tat3179 @ Feb 12 2014, 07:36 PM)
Why do I got the feeling that this project will become a white elephant with 30 percent occupancy when it is completed?

3000 psf...good luck...
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Cannot lah... everyone forced to go there. Bursa and SC going there.
tikaram
post Feb 12 2014, 11:57 PM

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QUOTE(accetera @ Feb 13 2014, 12:16 AM)
Cannot lah... everyone forced to go there. Bursa and SC going there.
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Wat happen when najid later kena remove by mahatil
nkhong
post Feb 13 2014, 02:28 AM

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QUOTE(tikaram @ Feb 12 2014, 11:57 PM)
Wat happen when najid later kena remove by mahatil
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Change name become TME.
Nidz
post Feb 13 2014, 09:25 AM

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QUOTE(nkhong @ Feb 13 2014, 02:28 AM)
Change name become TME.
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lol
This is rather funny. However, I am very sceptical about property nowadays. Developers keep on launching new projects with even higher psf price. who's gonna live/rent there when it is completed later on?
tat3179
post Feb 13 2014, 09:47 AM

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QUOTE(Nidz @ Feb 13 2014, 09:25 AM)
lol
This is rather funny. However, I am very sceptical about property nowadays. Developers keep on launching new projects with even higher psf price. who's gonna live/rent there when it is completed later on?
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You know what they say...our prop is still cheep cheep....

singkies, middle easterners, mainlanders all clamouring to buy wan...

so remember kids, 3000psf is cheep...veli cheep...

don't forget to bbbwww during launch.... biggrin.gif

Keep those kungfu fingers ala eco cheras launching ready wokey.... biggrin.gif
MishimaZ
post Feb 13 2014, 10:02 AM

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QUOTE(Nidz @ Feb 13 2014, 09:25 AM)
lol
This is rather funny. However, I am very sceptical about property nowadays. Developers keep on launching new projects with even higher psf price. who's gonna live/rent there when it is completed later on?
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Sure got, while it lasts lar.... Now also nearly every businesses is running on debt and debt and debt mah.... Must BBB since you are free of debt when you die you know!!! rclxms.gif rclxms.gif rclxms.gif

Since the government has no reserves left and have to sell lands at highly inflated price while selling the American dream promo while the rest of the citizens will be encouraged to borrow more and more from the bank so that banks also get money!!

Don't worry lah, when global downturn its okay one.... IMF still available for us. thumbup.gif thumbup.gif thumbup.gif
Jdite
post Feb 20 2014, 10:40 PM

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Any insider news about which developers tendering for the project? biggrin.gif
hondaracer
post Feb 23 2014, 07:53 AM

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QUOTE(accetera @ Feb 12 2014, 11:16 PM)
Cannot lah... everyone forced to go there. Bursa and SC going there.
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Which companies are forced there? Maybank, CIMB, Public Bank, AmBank?? 🙈🙈⌛️⌛️

KLCC & city centre will be empty lor...
accetera
post Feb 23 2014, 10:00 AM

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QUOTE(hondaracer @ Feb 23 2014, 07:53 AM)
Which companies are forced there? Maybank, CIMB, Public Bank, AmBank?? 🙈🙈⌛️⌛️

KLCC & city centre will be empty lor...
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Hearsay >>> Our local banks are allocated spaces there. Don't care about their existing HQs, the top guys need to have a corporate office there. Our many regulators in financial and insurance industry also allocated spaces there.

Besides BNM, Bursa and SC, I think players like EPF may have to consider TRX as well.

This post has been edited by accetera: Feb 23 2014, 10:01 AM
yltoh
post Feb 23 2014, 11:45 AM

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QUOTE(accetera @ Feb 23 2014, 11:00 AM)
Hearsay >>> Our local banks are allocated spaces there. Don't care about their existing HQs, the top guys need to have a corporate office there. Our many regulators in financial and insurance industry also allocated spaces there.

Besides BNM, Bursa and SC, I think players like EPF may have to consider TRX as well.
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thanks for sharing man!
mataseri
post Feb 24 2014, 11:58 AM

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when the rent is too high, how can businesses cover the operation?


alpha team
post Feb 27 2014, 04:09 PM

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anybody know when will launch?
my44
post Feb 27 2014, 10:34 PM

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QUOTE(tat3179 @ Feb 12 2014, 07:36 PM)
3000 psf...good luck...
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3,000 psf is just for the land. There is no building on it yet. When a developer build a 40-storey tower, each floor won't be sold at 3, 000 psf but much, much less. Not sure why people balk at the price tag for a piece of empty land that can be multplied by 40-50 floors =)

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