Socialization of loss and privatization of national resources -- SDP is one of the best 😞

After Elmina, all investor now look at this Senerai City FH land, someone say got 2000acre+5000acre, if launch the commercial first than DSL price sure UUU....

Seriously? Everyone is looking at this one? Jialat

why?? boss, u planing sapu berapa biji??

Haha... I am beginning to be very wary of SDP pricing

haha......SDP knife is always sharp enough for those investor

I wrote a summary here:
http://www.ptlm.com.my/index.php/component...-southeast-asia

News : Sunsuria in property deal

2015 Apr 21

Firm to purchase remaining 50% in Sepang developer for RM173.4mil

PETALING JAYA: Property developer Sunsuria Bhd has proposed to acquire the remaining 50% in a property development company that is developing 331 acres surrounding the upcoming Xiamen University Malaysia Campus in Sepang. 

In a filing with Bursa Malaysia, Sunsuria said it was buying the property from Sime Darby Property (Sungai Kapar) Sdn Bhd, a wholly owned subsidiary of Sime Darby Property, for RM173.4mil, including a shareholders’ advance of RM16.39mil. The transaction values the land at RM41 per sq ft. 

The development company, Sime Darby Sunsuria Development Sdn Bhd (SDSDSB), was incorporated as a 50:50 joint venture between Sime Darby Property and Sunsuria Gateway Sdn Bhd to undertake a property development on the 331 acres of freehold land known as Suria Serenia. The development is to cater primarily for the proposed Xiamen University campus. 

When the conditions of the agreement are fulfilled, Sunsuria will have full control of SDSDSB. “This represents a significant milestone for us to optimise the value and effective implementation of the development being a smart liveable and sustainable city,” Sunsuria said in a statement yesterday. 

In the proposed transaction, Sunsuria will subscribe for RM1mil shares and RM237mil redeemable preference shares-B in Sunsuria Gateway, resulting in the property developer effectively owning the other 50% in SDSDSB. The proposed subscription of RM238mil preference shares by Sunsuria in Sunsuria Gateway will be utilised to settle RM168.39mil, which constitutes full and final capital repayment of all its existing redeemable preference shares-A in the company. 

An amount of RM69.61mil will be retained in Sunsuria Gateway to be utilised for working capital purposes, including payment of the remaining unpaid land purchase consideration by SDSDSB. Of the RM168.39mil settlement, RM100mil will come from the proceeds of new shares to be issued by Sunsuria at an issue price of RM0.98 per share.

Sunsuria closed up six sen to RM1.65. Sunsuria’s major shareholder, Datuk Ter Leong Yap, will subscribe for the shares. The development of the land surrounding the proposed Xiamen Universiy is a major project for Sunsuria. It is to keep the property developer active for the 12 years after its gets the approval. The company is expecting to submit the planning for approval by June this year. The estimated development cost is RM3.6bil, while the gross development value is projected at RM6.39bil. 

SIME with its commercial

except for usj taipan, I dun see sime managed to create a successful commercial area.
Subang yes, but it takes ages.

USJ only taipan area. the rest...all not hot. Putra Heights lagi teruk....same with bukit Jelutong and bukit raja. Ara damansara commercial...anyone heard good restaurants or establishment there?

I wont count on commercial by SIME, period.

It is good that Sunsuria is taking over the development management.

Frankly, I am very dissappointed with the way Dataran Ara Damansara turns out.

Hearsay Sunsuria is launching 2H. True?

Boss, SS15 SJ by Sime oso very hot ma! Yes, it takes a long time but at that time the price also quite cheap.

its all relative, BRE Boss.
ss15 only wong when few colleges have setup there.
for commercial, you need strong holding power. 5 years are min.

you see putra heights...so many years already...commercial still dead dead like that....even the giant cant help them...imagine if you bought into these shoplots....cry also no tears.

Good point

Pros & cons la boss, lesser traffic so more peaceful for the residents, but not good for biz lo. For PH residents, I think probably most of them dont really mind as there are commercial nearby like One City, Main Place, Taipan etc. all within driving distance of 5-15 min.

However, I heard those that bought the shoplots there did make money selling it, how much Im not sure. Next year once the LRT extension line is in operation, the situation should improve.

SS15 I think oso took quite some time to become wong, so need more time lo!

This post has been edited by BRE: Apr 21 2015, 06:03 PM

News : Sunsuria eyes RM900mil in sales

2015 Jun 12

PETALING JAYA: Sunsuria Bhd, which is planning RM1 billion worth of launches in the next 12 months, is targeting property sales of RM900 million in the financial year ending Sept 30, 2016 (FY16) and RM1 billion per year thereafter.



Sunsuria recently changed its financial year to Sept 30, from March 31 previously.



Executive director Koong Wai Seng said it expects FY16 sales to be generated mainly from the Xiamen University Malaysia township in Salak Tinggi.



Sunsuria is slated to launch properties with a gross development value (GDV) of RM1 billion in the next 12 months, mainly in the Xiamen University Malaysia township and in Medini, Johor.



The first phase of the Xiamen University Malaysia township, measuring about 40 acres, has a GDV of RM900 million and will be launched within this year. It will consist of 663 units of residential properties, of which 200 units will be linked houses in the range of RM500,000 and the rest are low-rise apartments priced below RM400,000.



"It's going to be rolled out in the next 12 months, of which majority is happening in the next six to nine months," Koong told a press conference after its EGM here.



The Xiamen University Malaysia township project has a GDV of RM6.4 billion and located within the township is China's first overseas university, the 331.27 acres Xiamen University Malaysia Campus and the Kuala Lumpur International Outlet, a US-based premium outlet.



Earlier at the EGM, shareholders approved its proposed acquisition of a 50% stake in Sime Darby Sunsuria Development Sdn Bhd from a subsidiary of Sime Darby Bhd, and a 21% stake in Sunsuria Medini Sdn Bhd. The approvals for a proposed transaction in Sunsuria Gateway Sdn Bhd and proposed subscription in Rentak Nusantara Sdn Bhd were also obtained.



The acquisitions have boosted Sunsuria's landbank from 4.71 acres to 425 acres, also helped by its executive chairman Datuk Ter Leong Yap's injection of assets into the group.



"For future growth, we will look for bigger tract of land for our long term or mid term strategy," Koong said.



Meanwhile, Ter said the overall property market is affected in Malaysia, and that the slowdown is partly because of the Goods and Services Tax.



"It's a matter of how people get used to it. Generally, Malaysians like to invest in properties and the buying mood is still strong. What's affected the most are bank loans, which are tougher (to obtain)," said Ter.

No new update meh?

It seeems that this Suria Serenia is part of SDP's Serenia City.

anyone interested in their masterplan???

just go here

[url=http://www.horizongroup.com/Post/sections/3/Files/HGP%20Kuala%20Lumpur%20Leasing%20BrochureREVISED.pdf


This post has been edited by ajakthebrilliant: Jun 29 2015, 12:28 AM