Welcome Guest ( Log In | Register )

5 Pages  1 2 3 > » Bottom

Outline · [ Standard ] · Linear+

> slot machine in malaysia is legal ,u know or not?

views
     
PLOUFFLE
post Mar 27 2014, 01:09 AM, updated 5y ago

Casual
***
Junior Member
442 posts

Joined: Oct 2012
Gaming slot machines migrate out, troubles move into KGNS

WAZ LIAN ENTERPRISE SDN.BHD. (160461-M)

No. 95, Jln Pudu Lama,
50200 Kuala Lumpur,
Wilayah Persekutuan Tel: 03-2032 1899
Fax: 03-2031 9002

WAZ LIAN PROPERTIES SDN. BHD. (915904-T)


http://www.malaysia-today.net/the-warlords...e-de-facto-igp/




There are actually 3 BIG player in Slot Machine Clubs in Malaysia.
- Waz Lian
- Palm Gold
- GPL


BERJAYA CLUB ????





A controversial move by Kelab Golf Negara Subang (KGNS) to lease and relocate its gaming machines outside the clubhouse has offered a peek into the billion-ringgit slot machine industry controlled by a clutch of businessmen closely connected to Barisan Nasional (BN).


Tan Sri Megat Najmuddin Khas and other members of the management committee of the club for the year 2011-2012 were recently censured by club members for negligent and incompetent conduct and a breach of duty, according to documents sighted by The Malaysian Insider.
The Club Captain during that period was Dr Ronnie Yeo. He received a stronger rebuke for being a party to discussions on the relocation deal when he was employed by Waz Lian Recreation Sdn Bhd, the company owned by a tycoon who organised the massive show of support in Port Klang for Datuk Seri Najib Razak with 60,000 people turning up for the dinner.


The real story: the Finance Minister who first gave out these licences - Dr M or Pak Lah


A handful of Chinese tycoons own hundreds of licences issued by the Ministry of Finance to operate gaming machines. These machines are placed in private clubs around the city but are open to anyone who wants to try their luck. The tycoons with more licences are able to earn a profit of several million ringgit a month, some going as high as RM20 million a month, even after paying taxes to the government.


Because of the Finance Ministry’s tight control of licences under the Lottery Act, some of the tycoons have been turning their attention to gaming machines operated by golf clubs and sports clubs around the country, offering the clubs a contract to lease and relocate the machines outside the clubs.


In return, these gaming operators are prepared to pay the clubs a guaranteed amount monthly. And most of the time the guaranteed monthly compensation is more than what the club would have earned had the slot machines remained in its premises and been played only by club members.


But the problem with such sweet deals is that they appear to breach the conditions of the gaming licence set by the Finance Ministry. These include the need to place the slot machines on club premises and make sure that only club members can play.
'Annex club'


In this case, KGNS agreed to transfer the operation of its 10 gaming machines to Waz Lian in May 2012, more than a year after talks began between the management committee and the operator.

The gaming machines were moved to the Galaxy Club in Kota Damansara and it was agreed that Waz Lian would run the slot machine business for five years[SIZE=7]. For the first six months, KGNS would receive RM126,000. After that, the club was to be paid RM150,000 per month.


Waz Lian also agreed that in the event of the gaming licence was revoked, it would compensate KGNS RM10 million. The management committee also agreed with a suggestion by Waz Lian to call the gaming room in Kota Damansara “an annex club’’, a move which would ensure that it would technically meet the Finance Ministry’s demand that the machines must be on club premises.


But the agreement did not go down well with club members and at the KGNS AGM in June last year, it was decided that a special investigation committee investigate “the causes and reasons” for the club entering into an agreement to operate its slot machines and remove them from the club.


Breaches: What should current Finance Minister Najib Razak do - confiscate the machines/licences?


After exhaustive enquiries, the special investigation committee concluded that many breaches had taken place.


For example, the agreement with Waz Lian states that members of the public will be allowed to use the gaming machines at [SIZE=7]Galaxy club
, contravening the ministry’s rules that only club members may use the slot machines.


Also, the Galaxy club was described as an annex of KGNS though the golf club did not have exclusive possession of the premises where the machines were moved to.



The investigation committee also noted that though the operator pledged to make a payment of RM10 million should the gaming licence be revoked, Waz Lian did not have a good balance sheet and had a net liability position of RM446,872.


There was also disappointment among club members because the club’s solicitors had in December 2011 raised the red flag on whether Malaysian law allows the machines to be used by non-members.


It remains unclear if the Finance Ministry is going to act against KGNS or other clubs which have entered into agreements with the well-connected businessmen who dominate the slot machine business in Malaysia.


Full article: http://www.malaysia-chronicle.com/index.ph...2#ixzz2x5b0QIik
Follow us: @MsiaChronicle on Twitter


丹斯里鄭金焱---成龙在大马的好友!!!!


WAZ LIAN ENTERPRISE SDN.BHD. a gambling company!

不為人知的大馬老虎機市場


馬來西亞的老虎機市場主要被兩幫人馬瓜分(雲頂賭場除外),一方面是以成功集團(Berjaya Group)陳誌遠(Vincent Tan)為首的陳氏家族,陳氏家族的老虎機生意註重在VIP貴賓俱樂部,在吉隆坡多個華人聚集地均設有貴賓俱樂部。


另一個派系則是由拿督鄭金炎(Tan Sri Ta Kin Yan )和新加坡商人傅寶聯(Paul Poh Po Lian)所創辦華聯集團(Waz Lian Group)。

除了經營老虎機,華聯集團也是東南亞的電子賭博機的主要銷售商,其業務遍布馬來西亞,新加坡,柬埔寨,越南,菲律賓等地。除此,華聯集團在東南亞擁有超過70家夜總會。

在馬來西亞,由於缺乏競爭,VIP貴賓俱樂部裏老虎機的遊戲都非常經典(也可以理解為舊款)。一般的老虎機VIP貴賓廳並不接受街客(walk-in customer),VIP會員都是以受邀的形式加入。除了受邀加入,還有就是經過朋友推薦或介紹人(agent)才可以成為會員,因此一般普羅大眾對此道並不熟悉。




Ho also presented souvenirs to long-time member businessman Tan Sri Ta Kin Yan on being conferred the Panglima Setia Makhota (PSM) award by the Yang di-Pertuan Agong and to associate member Joseph R. Menezes who received a special medal by the St. John’s Ambulance Malaysia on behalf of the Queen of England.




City&Country: Waz Lian moving into top gear
Tags: Ta Shun Dher , Waz Lian Group
Print
By Lam Jian Wyn of The Edge Malaysia
Sunday, 21 August 2011


Ask Waz Lian Group director Ta Shun Dher what the gaming, hospitality and property outfit has been up to of late and chances are the 24-year-old will tell you: “Too many things to keep track of.”

The low-key group has undertaken a string of real estate projects, mostly related to its hospitality business. It recently completed its first premium low-rise development in Kuala Lumpur’s expatriate enclave of Taman U-Thant, aptly named Gallery @ U-Thant. The project has a gross development value of RM200 million and comprises 50 units of 3,208 to 6,576 sq ft apartments priced from about RM4.2 million to RM8.9 million.

The homes are housed in two 10-storey blocks — the highest in the area where the height of buildings is restricted by Kuala Lumpur City Hall.

The term “blocks”, however, does not adequately describe the building’s sinuous design — from the top, it resembles two large leaves fanning out. The developer hopes the unique design, together with the the building’s height in a neighbourhood of low-rise strata homes, will appeal to prospective buyers.

Under construction in Persiaran Madge is Gamuda Land’s Madge Mansions — condovillas that come with a personalised concierge facility called “At Your Service” that will attend to the needs of residents. Prices for these start at RM1,320 psf.

Just a stone’s throw from Gallery @ U-Thant is Wing Tai Asia’s Nobleton Crest development, a three-block condominium. Other low-rise condominiums in the area are U-Thant Residences, Cinta, 7 U-Thant, Brunsfield Residences and Katana, to name but a few.

Waz Lian had purchased the land for Gallery @ U-Thant 10 years ago. “Back then, the price was still low, less than RM200 psf,” Ta tells City & Country. “We kept it because this area had no high-end condominiums at the time. Originally, my father wanted to build a bungalow for his own use, but then the land was large. It is 1.3 acres and freehold.”

Waz Lian tied up with Prinnaisance Development Sdn Bhd, a subsidiary of the then listed Nam Fatt Holdings Bhd, to develop Gallery @ U-Thant. However, it bought over its partner following Nam Fatt’s financial woes which forced the latter to restructure and liquidate its subsidiaries. Nam Fatt was delisted in May this year.

Currently, 40 of the 50 units at Gallery @ U-Thant have been taken up. Only 32 units were released at RM800 psf before construction commenced in 2008 to allow the remaining units to gain value, Ta says. He adds that 24 of the units were taken up by groups of investors even before there were any promotional materials, let alone a show unit.


A few more units were bought by his father Tan Sri Ta Kin Yan, who is group chairman.



“The investors were mainly from Singapore, Hong Kong and China, with few from the UK and one from the US,” Ta says.

Waz Lian has now released the rest of the units at RM1,300 psf and is making the rounds at property fairs, including Singapore. It hopes to attract Singaporeans who may find the current exchange rate in their favour. As with most properties with premium positioning, the group is touting Gallery @ U-Thant as a good investment opportunity with a catchment of expatriates. There are nine embassies in the neighbourhood, with Sayfol International School nearby.

“The units come with a rental guarantee of RM6 psf for the first two years. The management of the building will undertake the leasing of the units,” says Ta, adding that this will also give the company control over the tenant mix of the condominium. “Even if it takes longer, we will [still] screen, to establish a reputation of exclusivity for Gallery @ U-Thant.”

So far, three of the apartments are occupied while another two have been leased out.

Other projects

Waz Lian is expanding its hospitality segment — one of its core earners — by building two more of its Sentral brand hotels in Kuantan and Penang as well as more beach resorts around Peninsular Malaysia, says Ta.

“We decided to grow our chain because of the good performance of our maiden hotel in Brickfields [KL Sentral Hotel]. My father often had business associates over and he observed a demand for three-star hotels. So he started KL Sentral Hotel.”

Opened three years ago, KL Sentral Hotel has 230 rooms with an average occupancy rate of 90% per month. This has encouraged the group to build another two hotels in Kuantan, Pahang, and Penang by year-end.

The group opened Pudu Sentral in Jalan Pudu, near its head

This post has been edited by PLOUFFLE: Sep 11 2015, 09:42 PM
PLOUFFLE
post Mar 27 2014, 01:14 AM

Casual
***
Junior Member
442 posts

Joined: Oct 2012

必须理解的是,蔡细历能够在上次马华特别大会中获胜成为马华总会长,全部归功于郑金炎提供给蔡细历的献金,以便后者能买通这些全国代表,以保障他能在这场马华总会长的三角战中取得胜利。这就是为何郑金炎被誉为『大善人』,他利用他的肮脏钱收买权力和地位,包括他的这个『丹斯里』册封。众所周知,上次的马华总会长精选充斥着金钱政治,而这归功于郑金炎。

http://ccliew.blogspot.com/2011/02/blog-post.html
PLOUFFLE
post Mar 27 2014, 01:18 AM

Casual
***
Junior Member
442 posts

Joined: Oct 2012
http://newkopitiam.com/forum/viewtopic.php...eba83aa4a45cd2b
PLOUFFLE
post Mar 27 2014, 01:22 AM

Casual
***
Junior Member
442 posts

Joined: Oct 2012
http://www.chinapress.com.my/node/386560


http://www.gob.com.my/images/BOD-Ta-Wee-Dher.jpg

国內著名企业家、华联集团主席丹斯里郑金炎,其儿子郑维德Ta Wee Dher(音译)进入环球东方(GOB,1147,主要板房產,原名怡观资本)董事局任执行董事,市场揣测华联集团或有收购环球东方可能性。

This post has been edited by PLOUFFLE: Mar 27 2014, 01:24 AM
kamfoo
post Mar 27 2014, 01:25 AM

Getting Started
**
Junior Member
210 posts

Joined: Nov 2010


ok tldr
Blofeld
post Mar 27 2014, 01:25 AM

Look at all my stars!!
*******
Senior Member
2,884 posts

Joined: Mar 2012
what?
PLOUFFLE
post Mar 27 2014, 01:32 AM

Casual
***
Junior Member
442 posts

Joined: Oct 2012
IPOs from Malaysian tycoons are in the pipeline as others said to be contemplating listings include Tan Sri Danny Tan for his slot-gaming


ever wonder who really control gaming industry in malaysia? i knew a datuk in ipoh who are really filthy rich back in 1995 because he own a gaming license. but nowdays, all are 'regulated' and goes to 2 group, and surprise, suprise, what a monopoly...
please read on,

In case you are not aware, there are 367 outlets with at least 15 slot machines per outlet, all licensed by the Ministry of Finance at the time when Jamaluddin Jarjis was the Finance Minister Two (the then Finance Minister was Tun Dr Mahathir Mohamad). 80% of these slot machines are owned by two groups. The first group comprises Danny Tan, his brother Vincent Tan, and Vincent’s son, Robin, while the second is headed by someone I will call ‘Dato Seri Wazlian’, an infamous underworld figure who operates under the protection of.....well, you know who.....

While it appears like all these Chinamen tycoons control the slot machine business, they are actually the front-men for Jamaluddin Jarjis who collects tens of thousands a month for each machine licensed out. Imagine how many millions a month he receives on these 5,000 to 6,000 machines. Even if he collects a mere RM10,000 per month per machine, he brings in RM50 million to RM60 million per month. And you do know of course that Jamaluddin Jarjis is Deputy Prime Minister Najib Tun Razak's running doxxx don't you?
http://www.malaysia-today.net/Raja_P...ari-halal.html

and further check who is the all powerful figure is Wazilian, turn out, all in BN party really got share....

http://www.google.com.my/search?hl=e...G=Search&meta=

Dato' Sri Dr. Ir. Jamaluddin bin Mohd. Jarjis is a Malaysian politician and the former Minister of Science, Technology and Innovation. He currently serves as the Chairman of 1 Malaysia Peoples' Housing (PR1MA), and Malaysian special envoy[1] to the United States.[2]


Second Minister of Finance (November 2002 – January 2004)

"The Sports Toto listing in Singapore, which is under a different jurisdiction, probably reflects that," says the adviser. There is a similar undertone to the listing of Danny Tan's slot-gaming business, should it materialise.
"In the past, you may have wanted to keep the business [slot gaming] under wraps. But now, having it listed means added protection for the business," he adds.
There has been much market talk about the listing of the slot-gaming business, which is held under various private vehicles belonging to the Tan family, say investment bankers.

This post has been edited by PLOUFFLE: Mar 27 2014, 01:32 AM
meow2
post Mar 27 2014, 01:42 AM

New Member
Group Icon
Elite
5 posts

Joined: Sep 2013
From: Another Planet
i dono and i dont think it is legal unless u feed more money.
pkiensing
post Mar 27 2014, 01:45 AM

[Richfag]
*****
Senior Member
824 posts

Joined: Jan 2007
From: Office / Home



slot machine problem is for the rich to play,
we should stop those so called cyber cafe where they actually running gambling activity.
drewn123
post Mar 27 2014, 03:02 AM

Getting Started
**
Junior Member
87 posts

Joined: May 2010


There are actually 3 BIG player in Slot Machine Clubs in Malaysia. I know cuz I used to worked for 2 of them. blush.gif

- Waz Lian
- Palm Gold
- GPL

Sure, there are still some licenses owned privately BUT they are slowly being bought over by these 3 bigger company.

Their profits per month is mind boggling even for those ulu-ulu 1. Each club with a maximum of 15 slot machines able to rake in millions per month. Most of their clientele are gov ppl. I.E, those higher ups la....

This post has been edited by drewn123: Mar 27 2014, 03:04 AM
joe_mamak
post Mar 27 2014, 03:09 AM

Casual
***
Junior Member
333 posts

Joined: Dec 2006


I know. Old thread - https://forum.lowyat.net/topic/2851037/all
Clueless07
post Mar 27 2014, 08:33 AM

On my way
****
Senior Member
602 posts

Joined: Oct 2012
yeah... this one old story.
Then would you wonder.... how does the machine earn so much that i could give rental of rm150k per month?

So many so-hai go and play and keep feeding the money?

Orrr.... again conspiracy theory. The machine is more than a slot entertainment machine. It is a laundering machine....
fantasy1989
post Mar 27 2014, 08:40 AM

Microsoft LUMIA
*******
Senior Member
4,085 posts

Joined: May 2008



well..if u go prangin mall penang

still got a lot slot machine around ...
FindingGamerWife
post Mar 27 2014, 08:43 AM

Getting Started
**
Junior Member
51 posts

Joined: Dec 2013
it definitely should be banned.
Hunakadoo
post Mar 27 2014, 08:44 AM

Call me Gold Man !
*******
Senior Member
2,282 posts

Joined: Feb 2009
From: Kuala Lumpur Dataran Merdeka



what means "u know or know"on ts topic?
kuntilanak
post Mar 27 2014, 08:46 AM

On my way
****
Senior Member
675 posts

Joined: Jun 2009
(dirty) money & politics = BFF. nuf' said...
yeelong
post Mar 27 2014, 08:48 AM

K for /K
******
Senior Member
1,218 posts

Joined: Jul 2007
From: Sibu, Cheras Selangor



parking!!
limfreelance
post Mar 27 2014, 08:51 AM

Casual
***
Junior Member
300 posts

Joined: Jul 2011
From: Land of SaberLion :3
titk anda ialah????

PLOUFFLE
post Mar 27 2014, 09:57 AM

Casual
***
Junior Member
442 posts

Joined: Oct 2012
QUOTE(drewn123 @ Mar 27 2014, 03:02 AM)
There are actually 3 BIG player in Slot Machine Clubs in Malaysia. I know cuz I used to worked for 2 of them.  blush.gif

- Waz Lian
- Palm Gold
- GPL

Sure, there are still some licenses owned privately BUT they are slowly being bought over by these 3 bigger company.

Their profits per month is mind boggling even for those ulu-ulu 1. Each club with a maximum of 15 slot machines able to rake in millions per month. Most of their clientele are gov ppl. I.E, those higher ups la....
*
who is gpl boss ???
who is Palm gold boss ???

This post has been edited by PLOUFFLE: Feb 4 2015, 01:41 PM
TedToy
post Mar 27 2014, 10:01 AM

New Member
*
Junior Member
24 posts

Joined: Dec 2013
QUOTE(PLOUFFLE @ Mar 27 2014, 01:09 AM)
Gaming slot machines migrate out, troubles move into KGNS

WAZ LIAN ENTERPRISE SDN.BHD. (160461-M)

No. 95, Jln Pudu Lama,
50200 Kuala Lumpur,
Wilayah Persekutuan  Tel: 03-2032 1899
Fax: 03-2031 9002

WAZ LIAN PROPERTIES SDN. BHD. (915904-T)
http://www.malaysia-today.net/the-warlords...e-de-facto-igp/
A controversial move by Kelab Golf Negara Subang (KGNS) to lease and relocate its gaming machines outside the clubhouse has offered a peek into the billion-ringgit slot machine industry controlled by a clutch of businessmen closely connected to Barisan Nasional (BN).
Tan Sri Megat Najmuddin Khas and other members of the management committee of the club for the year 2011-2012 were recently censured by club members for negligent and incompetent conduct and a breach of duty, according to documents sighted by The Malaysian Insider.
The Club Captain during that period was Dr Ronnie Yeo. He received a stronger rebuke for being a party to discussions on the relocation deal when he was employed by Waz Lian Recreation Sdn Bhd, the company owned by a tycoon who organised the massive show of support in Port Klang for Datuk Seri Najib Razak with 60,000 people turning up for the dinner.
The real story: the Finance Minister who first gave out these licences - Dr M or Pak Lah
A handful of Chinese tycoons own hundreds of licences issued by the Ministry of Finance to operate gaming machines. These machines are placed in private clubs around the city but are open to anyone who wants to try their luck. The tycoons with more licences are able to earn a profit of several million ringgit a month, some going as high as RM20 million a month, even after paying taxes to the government.
Because of the Finance Ministry’s tight control of licences under the Lottery Act, some of the tycoons have been turning their attention to gaming machines operated by golf clubs and sports clubs around the country, offering the clubs a contract to lease and relocate the machines outside the clubs.
In return, these gaming operators are prepared to pay the clubs a guaranteed amount monthly. And most of the time the guaranteed monthly compensation is more than what the club would have earned had the slot machines remained in its premises and been played only by club members.
But the problem with such sweet deals is that they appear to breach the conditions of the gaming licence set by the Finance Ministry. These include the need to place the slot machines on club premises and make sure that only club members can play.
'Annex club'
In this case, KGNS agreed to transfer the operation of its 10 gaming machines to Waz Lian in May 2012, more than a year after talks began between the management committee and the operator.
The gaming machines were moved to the Galaxy Club in Kota Damansara and it was agreed that Waz Lian would run the slot machine business for five years. For the first six months, KGNS would receive RM126,000. After that, the club was to be paid RM150,000 per month.
Waz Lian also agreed that in the event of the gaming licence was revoked, it would compensate KGNS RM10 million. The management committee also agreed with a suggestion by Waz Lian to call the gaming room in Kota Damansara “an annex club’’, a move which would ensure that it would technically meet the Finance Ministry’s demand that the machines must be on club premises.
But the agreement did not go down well with club members and at the KGNS AGM in June last year, it was decided that a special investigation committee investigate “the causes and reasons” for the club entering into an agreement to operate its slot machines and remove them from the club.
Breaches: What should current Finance Minister Najib Razak do - confiscate the machines/licences?
After exhaustive enquiries, the special investigation committee concluded that many breaches had taken place.
For example, the agreement with Waz Lian states that members of the public will be allowed to use the gaming machines at Galaxy club, contravening the ministry’s rules that only club members may use the slot machines.
Also, the Galaxy club was described as an annex of KGNS though the golf club did not have exclusive possession of the premises where the machines were moved to.
The investigation committee also noted that though the operator pledged to make a payment of RM10 million should the gaming licence be revoked, Waz Lian did not have a good balance sheet and had a net liability position of RM446,872.
There was also disappointment among club members because the club’s solicitors had in December 2011 raised the red flag on whether Malaysian law allows the machines to be used by non-members.
It remains unclear if the Finance Ministry is going to act against KGNS or other clubs which have entered into agreements with the well-connected businessmen who dominate the slot machine business in Malaysia.
Full article: http://www.malaysia-chronicle.com/index.ph...2#ixzz2x5b0QIik
Follow us: @MsiaChronicle on Twitter
丹斯里鄭金焱---成龙在大马的好友!!!!
WAZ LIAN ENTERPRISE SDN.BHD. a gambling company!

不為人知的大馬老虎機市場 
馬來西亞的老虎機市場主要被兩幫人馬瓜分(雲頂賭場除外),一方面是以成功集團(Berjaya Group)陳誌遠(Vincent Tan)為首的陳氏家族,陳氏家族的老虎機生意註重在VIP貴賓俱樂部,在吉隆坡多個華人聚集地均設有貴賓俱樂部。
另一個派系則是由拿督鄭金炎(Tan Sri Ta Kin Yan )和新加坡商人傅寶聯(Paul Poh Po Lian)所創辦華聯集團(Waz Lian Group)。

除了經營老虎機,華聯集團也是東南亞的電子賭博機的主要銷售商,其業務遍布馬來西亞,新加坡,柬埔寨,越南,菲律賓等地。除此,華聯集團在東南亞擁有超過70家夜總會。

在馬來西亞,由於缺乏競爭,VIP貴賓俱樂部裏老虎機的遊戲都非常經典(也可以理解為舊款)。一般的老虎機VIP貴賓廳並不接受街客(walk-in customer),VIP會員都是以受邀的形式加入。除了受邀加入,還有就是經過朋友推薦或介紹人(agent)才可以成為會員,因此一般普羅大眾對此道並不熟悉。
Ho also presented souvenirs to long-time member businessman Tan Sri Ta Kin Yan on being conferred the Panglima Setia Makhota (PSM) award by the Yang di-Pertuan Agong and to associate member Joseph R. Menezes who received a special medal by the St. John’s Ambulance Malaysia on behalf of the Queen of England.
City&Country: Waz Lian moving into top gear
Tags: Ta Shun Dher , Waz Lian Group
Print
By Lam Jian Wyn of The Edge Malaysia
Sunday, 21 August 2011 00:00 Bookmark and Share
Ask Waz Lian Group director Ta Shun Dher what the gaming, hospitality and property outfit has been up to of late and chances are the 24-year-old will tell you: “Too many things to keep track of.”

The low-key group has undertaken a string of real estate projects, mostly related to its hospitality business. It  recently completed its first premium low-rise development in Kuala Lumpur’s expatriate enclave of Taman U-Thant, aptly named Gallery @ U-Thant. The project has a gross development value of RM200 million and comprises 50 units of 3,208 to 6,576 sq ft apartments priced from about RM4.2 million to RM8.9 million.

The homes are housed in two 10-storey blocks — the highest in the area where the height of buildings is restricted by Kuala Lumpur City Hall.

The term “blocks”, however, does not adequately describe the building’s sinuous design — from the top, it resembles two large leaves fanning out. The developer hopes the unique design, together with the the building’s height in a neighbourhood of low-rise strata homes, will appeal to prospective buyers.

Under construction in Persiaran Madge is Gamuda Land’s Madge Mansions — condovillas that come with a personalised concierge facility called “At Your Service” that will attend to the needs of residents. Prices for these start at RM1,320 psf.

Just a stone’s throw from Gallery @ U-Thant is Wing Tai Asia’s Nobleton Crest development, a three-block condominium. Other low-rise condominiums in the area are U-Thant Residences, Cinta, 7 U-Thant, Brunsfield Residences and Katana, to name but a few.

Waz Lian had purchased the land for Gallery @ U-Thant 10 years ago. “Back then, the price was still low, less than RM200 psf,” Ta tells City & Country. “We kept it because this area had no high-end condominiums at the time. Originally, my father wanted to build a bungalow for his own use, but then the land was large. It is 1.3 acres and freehold.”

Waz Lian tied up with Prinnaisance Development Sdn Bhd, a subsidiary of the then listed Nam Fatt Holdings Bhd, to develop Gallery @ U-Thant. However, it bought over its partner following Nam Fatt’s financial woes which forced the latter to restructure and liquidate its subsidiaries. Nam Fatt was delisted in May this year.

Currently, 40 of the 50 units at Gallery @ U-Thant have been taken up. Only 32 units were released at RM800 psf before construction commenced in 2008 to allow the remaining units to gain value, Ta says. He adds that 24 of the units were taken up by groups of investors even before there were any promotional materials, let alone a show unit. A few more units were bought by his father Tan Sri Ta Kin Yan, who is group chairman.

“The investors were mainly from Singapore, Hong Kong and China, with  few from the UK and one from the US,” Ta says.

Waz Lian has now released the rest of the units at RM1,300 psf and is making the rounds at property fairs, including  Singapore. It hopes to attract Singaporeans who may find the current exchange rate in their favour. As with most properties with premium positioning, the group is touting Gallery @ U-Thant as a good investment opportunity with a catchment of expatriates. There are nine embassies in the neighbourhood, with Sayfol International School nearby.

“The units come with a rental guarantee of RM6 psf for the first two years. The management of the building will undertake the leasing of the units,” says Ta, adding that this will also give the company control over the tenant mix of the condominium. “Even if it takes longer, we will [still] screen, to establish a reputation of exclusivity for Gallery @ U-Thant.”

So far, three of the apartments are occupied while another two have been leased out.

Other projects
Waz Lian is expanding its hospitality segment — one of its core earners — by building two more of its Sentral brand hotels in Kuantan and Penang as well as more beach resorts around Peninsular Malaysia, says Ta.

“We decided to grow our chain because of the good performance of our maiden hotel in Brickfields [KL Sentral Hotel]. My father often had business associates over and he observed a demand for three-star hotels. So he started KL Sentral Hotel.”

Opened three years ago, KL Sentral Hotel has 230 rooms with an average occupancy rate of 90% per month. This has encouraged the group to build another two hotels in Kuantan, Pahang, and Penang by year-end.

The group opened Pudu Sentral in Jalan Pudu, near its headquarters, with little fanfare three months ago. The 168-room, three-star establishment has seen occupancy levels of 80% to 90% so far, says Ta.

In the next two years, the group plans to venture into Danga Bay in Johor and build the first four-star Sentral Hotel there. “It will likely have over 300 rooms and will cost about RM90 million to build. This hotel is aimed at tapping the spillover of visitors to Singapore,” Ta remarks.

Waz Lian also plans to add 50 semi-detached and single chalets to its 120-room Redang Beach Resort off the coast of Terengganu. The new chalets will cost RM7 million to RM8 million and will have separate facilities from the main resort, such as a dining area, despite sharing the same seven-acre site.

In the pipeline is a beach resort in Tok Bali, Pasir Puteh in Kelantan, on part of a 300-acre tract it owns there. Waz Lian is aiming for a four-star rating for the RM35 million resort. “It will be surrounded by lagoons and will feature a banquet hall that can accommodate up to 500 people,” says Ta.

Tok Bali Beach Resort is the first phase of a four-phased mixed-development that will likely include another hotel, resort homes and bungalows, although plans have not been firmed up yet, he adds. The resort is Waz Lian’s move to tap the domestic and foreign tourism markets. “Tok Bali is near Besut. The resort will cater for the kind of tourists who want to take short trips to Pulau Perhentian for snorkelling and diving. We will provide boats to take them to t he island,” says Ta.

The group’s other hospitality venture is a homestay village at the Sungai Buaya interchange of the North-South Expressway. The village will comprise 170 homes built in a 170-acre orchard with each home taking up an acre.

According to Ta, Waz Lian is also the white knight for the Malaysia China Light Industrial City in Tanjung Minyak, Melaka. It is reviving the 300-acre mixed-use development, which had been abandoned for 10 years, with local partner Pembinaan Rembang Kota Sdn Bhd. The project comprises a 600-lot industrial park and a residential housing area across the road.

“Reviving the project will entail apportioning the lots, building the infrastructure and ‘cleaning up’ the park before handing it over to buyers who have bought 600 lots in the development,” observes Ta.
*
halal so legal liao

5 Pages  1 2 3 > » 
Bump Topic Add ReplyOptions New Topic
 

Switch to:
| Lo-Fi Version
0.0411sec    1.71    5 queries    GZIP Disabled
Time is now: 16th October 2019 - 10:41 PM