As mentioned on https://www.facebook.com/groups/115179435202482
this is Goh Ban Huat's former land, between Mont Kiara, Jalan Segambut, Jalan Ipoh and Jalan Kuching.



FCW, IJM Land to develop land
The Edge Property | Friday, 20 September 2013 16:18
http://www.theedgeproperty.com/global-mark...elop-land-.html

KUALA LUMPUR: FCW Holdings Bhd entered into a joint venture (JV) with IJM Land Bhd to develop four parcels of land in Segambut, KL, into mixed residential and commercial property projects.

In an announcement yesterday, FCW said the JV company, 368 Segambut Sdn Bhd, would acquire the parcels measuring 671,334 sq ft for RM188 million.

The land is to be acquired from FCW’s two wholly-owned subsidiaries — FCW Industries Sdn Bhd and Federal Telecommunications Sdn Bhd.

The original cost of investment by the two companies in the land was RM90.8 million. FCW, an investment holding and management services company, is expected to register a gain of RM96.8 million based on a sales consideration of RM188 million. The proceeds will be used to redeem preference shares and for working capital.

The approved usage for three of the four parcels is for industrial development while the fourth is for the cultivation of coffee.

Since it is a related party transaction, FCW has to get shareholder approval for the land sale before it can be completed.

According to FCW, which is controlled by low-profile Tan Sri Robert Tan Hua Choon, the sale consideration of the parcels was arrived at after taking into account the original cost of investment and a report by a valuer that valued the land at RM280 psf.

FCW hogged the limelight last Tuesday when the stock hit limit-up to as high as RM1.22.

The unusual market activity prompted a query from Bursa Malaysia to which the company replied that it was in the process of entering into an agreement to develop the land parcels it owns in Segambut.

FCW’s stock has been under-performing the market and long-time investors view the potential land development as a catalyst for re-rating.

The counter closed unchanged at RM1.13 yesterday, giving FCW a market capitalisation of RM223.6 million.

This post has been edited by accetera: Sep 5 2019, 06:34 PM

FCW dont know lose how much money on this counter already....

Hope IJM Land can bring some ECO concept here...

Was surprised y Tan Sri Robert Tan Hua Choon didn't team up with his high profile brother in law

After UOA, now IJM... probably this project will link with the MRT Circle Line

This post has been edited by 37 Exposures: Sep 22 2013, 11:24 PM

Wow, earlier on was Mayland sp1,2&3.
Then it was kiara east.
Then OCR launched flexus.
Ecosky was introduced today.
Mahsing lakeville coming soon.
This land gonna come soon and matter of time, tan Chang land also would be developed.
Seems like this stretch of road is set to see big things coming up.
Oh yeah, I somehow forgot to insert magna punya boulevard

This post has been edited by kochin: Sep 22 2013, 11:27 PM

isn't this property smack between 2 schools and an extremely busy road?

IJM Land has entered into a 50:50 joint venture with FCW Holdings Sdn Bhd to develop a 15-acre contiguous plot of land in Segambut for a proposed mixed development project located next to the Segambut KTM station. The project, 368 Residences, will be developed over four phases with a direct bridge linkage to the nearby KTM station.

http://www.nst.com.my/red/ijm-land-to-set-...gambut-1.363660

Jalan segambut road need to further widen.

Maybe something is cooking. And we don't know.

+1
Welcoming IJM to develop Segambut or Kepong area.
Just noticed that area along Jalan Kuching seems to be blooming good now with Flexus, Kiara East and EcoSky. Boulevard not in the same league. Just went to their showroom, so-so only. Sales person also quite rude. Good luck to Magna Prima.

For MP, their track record can say a lot.... IMHO, I will stay away...no point spend 500k there to 'keksim'. When they are priced cheaper and yet unable to sell... Someone gotta smell the rats.

Totally agree. Their track record sucks. Better stay off. Yet, they are having sushi buffet this coming Saturday at sales gallery. Sounds fishy... hahaha.

Pi makan free lah... Just don't bring cheque book.

so now it's time to revenge!!!

Magna Prima

hahaha

Mind to share their sales ofiz address?

368 Residences.

Coming soon.

When? Any details?