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> ECO SANCTUARY CITY | THE PARQUE RESIDENCES [OT], Commercial component of Eco Sanctuary Investment

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TSaccetera
post Mar 19 2014, 11:40 PM, updated 4y ago

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This thread will now focus on the Commercial component

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Scanned by: http://www.malaysiapropertynews.com.my/




Tropicana selling 309 acres out of 1,172 acres


Tropicana sells RM470.6mil land to Eco World

The Star | Wednesday March 19, 2014 MYT 6:08:44 PM
http://www.thestar.com.my/Business/Busines...d-to-Eco-World/

KUALA LUMPUR: Tropicana Corporation Bhd is expected to bag a net gain of RM170mil from its RM470.67mil land sale to Eco World Development Group Bhd.

In a statement on Wednesday, Tropicana said its 308.72 acre land sale in South Klang is expected to translate into incremental net earnings per share of 12 sen for its year ending Dec 31, 2014.

The land is part of the 1,172 acre Tropicana Aman which the group acquired in April 2013.

“Tropicana Aman is slated to be launched in the second half of 2014.

“The scheduled launches of Tropicana Aman for 2014 will comprise landed properties with an estimated gross development value of RM770mil,” it said.

Group executive Danny Tan Chee Sing said the sale is in line with its transformation strategy to unlock the value of its sizeable landbank, and monetise its assets to strengthen our balance sheet.

“On top of enhancing earnings, the cash proceeds from this disposal will further strengthen our delivery platform and better position us for sustainable growth over the medium to long term,” he said.

For the financial year ended Dec 31, 2014, Tropicana posted a 134% increase in revenue to RM1.47bil.

Group pretax rose 123.9% to RM503.6mil, while net profit attributable to shareholders gained 112% to RM362.3mil.

This post has been edited by accetera: Jan 18 2021, 10:40 PM
AMINT
post Mar 20 2014, 05:13 AM

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Near to Alam Impian, Kota Kemuning etc. I bet this is gonna be expensive.
cheryee
post Mar 20 2014, 05:36 AM

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QUOTE(AMINT @ Mar 20 2014, 05:13 AM)
Near to Alam Impian, Kota Kemuning etc. I bet this is gonna be expensive.
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Yang, ngam2 sebelah Rimbayu
AMINT
post Mar 20 2014, 05:53 AM

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QUOTE(cheryee @ Mar 20 2014, 05:36 AM)
Yang, ngam2 sebelah Rimbayu
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Freehold or leasehold?
akh731
post Mar 20 2014, 07:31 AM

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QUOTE(AMINT @ Mar 20 2014, 05:53 AM)
Freehold or leasehold?
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all land owned by ijm tropicana ecoworld is lease hold. and 50% bumi quota. ijm had allot of unsold bumi lot. ecoworld land price is super high. congratulation to tropicana bought from pnsb is much cheaeper and make of multi million within a year. 12 sen per share earning for tropicana is really attrative.

This post has been edited by akh731: Mar 20 2014, 07:33 AM
TSaccetera
post Mar 20 2014, 09:42 AM

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Map:

QUOTE(humms @ Mar 20 2014, 08:57 AM)
According to the announcement made on Bursa by EcoWorld, the purchase consideration consists of the following:-

1. RM35 psf over 308.72 acres, consisting of 11 land titles
2. Potential GDV of RM8billion
3. the land area of 308.72 acres is actually net land area basis, excluding of common infra such as proposed roads, drainage, reservoirs, sewerage, culverts, retention basins, electric main distribution
4. No low cost units are to be constructed on the 11 parcels of lands. Any low cost requirement imposed by the relevant authority pursuant to the development of the parcels will be constructed by the Vendor (tropicana)
5. The costs and expenses incurred by the Vendor for the purpose of and in connection with the construction and completion of the Shared Primary Infrastructure undertaken by it and the net cost incurred by the Vendor for the construction of the low cost units shall be borne by the Parties and such proportions shall be computed in accordance with the terms and conditions of the SPA

location of the 11 parcels bought by EcoWorld:-

looks like it's just directly across the main road of Bandar Rimbayu, and next to Perennia! Perennia purchasers look like you guys gonna be neighbours to high-end EcoWorld products..

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Calculator2013
post Mar 20 2014, 09:56 AM

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QUOTE(accetera @ Mar 20 2014, 09:42 AM)
Map:
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Wow!! EcoWorld really venturing alot!! rclxms.gif
TSaccetera
post Mar 20 2014, 10:06 AM

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Eco World to launch RM8 billion Klang project
By Sharen Kaur | bt@mediaprima.com.my
http://www.nst.com.my/business/todayspaper...roject-1.521972

KUALA LUMPUR: Eco World Development Group Bhd, a company set up by former SP Setia Bhd's directors and executives, will launch EcoSanctuary, a new project in south Klang worth RM8 billion.

The project is part of Tropicana Corp Bhd's 468.8ha Tropicana Aman development, which was previously known as Canal City.

Eco World is acquiring 123.5ha from Tropicana for RM470.67 million, or RM35 per square feet.

Trading of Eco World and Tropicana shares was suspended yesterday from 2.30pm to 5pm.

Prior to the suspension, Eco World rose two sen, or 0.4 per cent, to RM4.69, while Tropicana was up five sen, or 3.6 per cent, to RM1.43.

Both parties expect to conclude the land deal in the second half of this year.

Tropicana said in a statement that it will gain RM170 million from the land sale, which will translate into incremental net earnings per share of 12 sen for fiscal year 2014.

Its group executive vice-chairman Tan Sri Danny Tan Chee Sing said the sale is to unlock the value of the sizeable landbank and monetise assets to boost its balance sheet.

Meanwhile, Eco World president and chief executive officer Datuk Chang Khim Wah said the deal is in line with its strategy to replenish its landbank in major growth corridors to expand its operations.

He said Eco World would be able to launch the project after completion of the deal as the land comes with an approved development order.

Chang said the eight-year project, which will feature eco-themed mixed residential and commercial properties, is expected to start by year-end.

EcoSanctuary will be the company's maiden township launch in the Klang Valley under the Eco World brand.

Eco World has been busy buying land since last year and now has 1,214ha in Greater Kuala Lumpur, Johor and Penang with estimated gross development value of RM30 billion.

Business Times reported recently that Eco World is participating in a request for proposal by Penang Development Corp to buy 190ha on a hillock close to the landing point of the new bridge crossing between Batu Kawan and Batu Maung on Penang island.
jual_beli
post Mar 20 2014, 04:17 PM

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QUOTE(cheryee @ Mar 20 2014, 05:36 AM)
Yang, ngam2 sebelah Rimbayu
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my sifu cheryee...how do i look for the land location on google?
elmond
post Mar 20 2014, 04:24 PM

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QUOTE(jual_beli @ Mar 20 2014, 04:17 PM)
my sifu cheryee...how do i look for the land location on google?
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http://wikimapia.org/#lang=en&lat=2.949898...&search=rimbayu
jual_beli
post Mar 20 2014, 04:53 PM

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QUOTE(elmond @ Mar 20 2014, 04:24 PM)
tq elmond!!! rclxms.gif rclxm9.gif haha. i hv more sifu
alesi616
post Mar 20 2014, 07:23 PM

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another high end pricey township in making!
AMINT
post Mar 27 2014, 12:26 PM

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QUOTE(akh731 @ Mar 20 2014, 07:31 AM)
all land owned by ijm tropicana ecoworld is lease hold. and 50% bumi quota. ijm had allot of unsold bumi lot. ecoworld land price is super high. congratulation to tropicana bought from pnsb is much cheaeper and make of multi million within a year. 12 sen per share earning for tropicana is really attrative.
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if so, i see a potential increase in value for Kota Kemuning, Alam Impian and other surrounding towns which are freehold in title
dennisteh12
post May 10 2014, 02:15 PM

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QUOTE(AMINT @ Mar 27 2014, 12:26 PM)
if so, i see a potential increase in value for Kota Kemuning, Alam Impian and other surrounding towns which are freehold in title
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I heard Eco Sanctuary at Canal City will only happen in 2015, any comment please?
rongfu
post May 10 2014, 02:20 PM

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QUOTE(AMINT @ Mar 27 2014, 12:26 PM)
if so, i see a potential increase in value for Kota Kemuning, Alam Impian and other surrounding towns which are freehold in title
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Kota Kemuing Commerical Zon rclxms.gif

IJM phase 1 2 3, 4 completed, all resident will hang out at Kota Kemuning shoplot area..




tengster
post May 10 2014, 03:17 PM

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QUOTE(dennisteh12 @ May 10 2014, 02:15 PM)
I heard Eco Sanctuary at Canal City will only happen in 2015, any comment please?
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They are busy busy with EcoSky and then Eco Majestic and then baru Eco Sanc...
Top Gun
post May 10 2014, 03:35 PM

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QUOTE(tengster @ May 10 2014, 03:17 PM)
They are busy busy with EcoSky and then Eco Majestic and then baru Eco Sanc...
*
Here also can see you!
You are just everywhere, geng! rclxms.gif
Anyway, this land acquisition might face some difficulties now lah.
So, not so soon to launch if it is successful acquired!
cheryee
post May 10 2014, 04:43 PM

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QUOTE(Top Gun @ May 10 2014, 03:35 PM)
Here also can see you!
You are just everywhere, geng! rclxms.gif
Anyway, this land acquisition might face some difficulties now lah.
So, not so soon to launch if it is successful acquired!
*
nod.gif nod.gif nod.gif
gunh
post May 22 2014, 10:20 AM

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some rumours said this is reserved land... so conversion will not be so straight forward...
mingyew
post May 22 2014, 10:49 AM

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Recently saw a lot korean expat living in KK, seems going well day by day.

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