Coming next year according to the star

KUALA LUMPUR: Construction firm Fututech Bhd’s executive director Datuk Tee Eng Ho had a flight to catch about two hours after the company’s AGM.

He managed to gobble down a bit of fried bihun (rice noodles) before catching a flight to Penang, an important market for the company.

“Penang, the Klang Valley and Johor are equally important markets,” he told reporters after its AGM.

Fututech has worked with the country’s top developers like Eastern & Oriental Bhd, Eco World Development Group Bhd and SP Setia Bhd.

Constructing high-end, high-rise buildings is its specialty. “And we complete it within the timeline set,” he quipped.

It is also building its own houses now. In the last quarter, it will be launching Vista Residences at Gohtong Jaya, a town in Genting Highlands. It will be offering 378 fully furnished serviced apartments at RM700 per sq ft.

The leasehold project is worth about RM300mil and has seen encouraging interest, he said.

Next year, it plans to launch 349 condominiums at Monterez Golf and Country Club in Shah Alam. Projection for the plan is at RM200mil.

The company was a manufacturer before it transformed into a construction player in the 1990s.

For construction work, it has ongoing contracts valued at RM130mil.

Fututech’s revenue came largely from the construction arm for the financial year ended Dec 31, 2014 (FY14), while 20% came from its manufacturing division.

It manufactures kitchen sets and installs them for housing projects.

Construction revenue for FY14 was at RM78.16mil, while manufacturing raked in RM11.55mil.

He said the company was tendering for kitchen cabinets and wardrobes for SP Setia projects, while it was in early discussion with Eco World for kitchen contracts.

But growth from the company will be from a related-party deal, in which Tee and his family will inject two private firms into the listed company Fututech.

Fututech is in the process of buying Kerjaya Prospek (M) Sdn Bhd and Permatang Bakti Sdn Bhd for RM380mil.

The purchase will be done by issuing 280 million new Fututech shares at RM1.16 apiece and the remaining RM55.2mil in cash.

Kerjaya Prospek has secured jobs valued at RM2.3bil while it is bidding for new jobs worth RM1.8bil.

“Post-merger, we will be an end-to-end construction group,” he said, expecting the deal to be done in the third quarter.

Tee also has a private property development firm. Asked if he would also inject the company into Fututech, he said: “Not at the moment, but I don’t discount that possibility in the future. We want to do things step by step.”

Fututech’s shares have jumped over 40% since the announcement of the deal to RM1.64 yesterday.

This monterez area appreciation for landed quite slow maybe cos heavy jam n long time to go NKVE!

but the palce is peaceful with lesser industries compare other parts of Shah Alam

True.. do u know why cahaya skp appreciation quite slow? only been to bukit bayu once n i feel dam ulu.. this condo btr be facing d golf course then can sell well if price is right.. U think 500psf here?

i think cheaper.


349 units = 200mil gdv

This post has been edited by tikaram: Jun 24 2015, 09:19 PM

then good deal if 450psf, esp if ppl are ok with no commercial around..

if not mistake that area don't have any strata land, unless they are building on commercial land.

my mistake, just check with sismaps, got 3 lot of strata residential land was in monterez.

one of them

MBSA/OSC/KM(DO)/SEK.U9/0053/2014 : PERMOHONAN KEBENARAN MERANCANG PENDIRIAN BANGUNAN BAGI CADANGAN PEMBANGUNAN 1 BLOK PANGSAPURI KOS SEDERHANA RENDAH YANG MENGANDUNGI 117 UNTI RUMAH PANGSA BESERTA KEMUDAHAN DI ATAS NO. 5, LOT 5729, JALAN UNGU U9/33, SEKSYEN U9, 40150 SHAH ALAM SELANGOR oleh SUNWAY MONTEREZ SDN BHD di Majlis Bandaraya Shah Alam

sederhana rendah is mid cost flat right? can share the others here?

mistake again, those lots mention below and above actually inside sunway kayangan, so monterez really no strata land except commercial land

this lot is 14736, there was lot 14737 beside it (same size), the last lot (huge size) just beside jalan batu arang

for U9, there was another rumah selangorku at cahaya spk

MBSA/OSC/KM(DO)/SEK.U9/0046/2015 : PERMOHONAN KEBENARAN MERANCANG PENDIRIAN BANGUNAN BAGI CADANGAN PERUMAHAN 2 BLOK PANGSAPURI RUMAH SELANGOR KU 789 UNIT YANG MENGANDUGI BLOK A, BLOK B, TEMPAT LETAK KERETA DAN KEMUDAHAN DI ATAS LOT : PT 24502, PERSIARAN SERI HIJAUAN ALAM SEKSYEN : U9, 40150 SHAH ALAM, SELANGOR DARUL EHSAN. oleh SJ PROPERTIES SDN. BHD. di Majlis Bandaraya Shah Alam

This post has been edited by elmond: Jun 25 2015, 11:16 AM

Mus convert lor.. what u think of investment here? i think fr young buyer ownstay is good if OK with d jam!

good sharing

Hi everyone, this new condominium has been pre-launched.
Total of 8.7 acres land with only 436 units.
Fully Residential - residential land.
Selling around RM500psf.
Show unit is ready by appointment for viewing.
Contact me for more info:-
017-901 8132

just visited today with my friend, i really like the 1507sf, you may contact the sales person charles 0123864839 if you like to know more

Hi All, I'm interested in the 1507sqft at The Vue @ Monterez for own-stay.
I'm not familiar with the area but I've personally driven around the area on a weekend to have a look. So far it's quiet and decent. Not sure how's the rush hour traffic to the highways would like.

Appreciate if anyone who knows about/ stays around this area could share their experience😊

Did you see the project site? actual site.

it is call Monterez and actually it is not within it.
also Monterez ain't any prime.... it is quite worn down, residents not exactly high class.

I am familiar at this area, but it has nothing o shout about.
near by Kg Subang, Kg Melayu Subang etc.
Got commercial but nothing attractive. don't have a decent chap fan, or coffee shop. got 3 nice BKT.

Kg Subang have more life, but again it is local folks, and lots of foreign workers
Traffic wise, gotto use Jalan Sg Buloh to connect to Dash or Gutrie or NKVE

i would really give this a pass. If really keen of this area, might as well look for the condo at Denai alam, near completion. or wait for new one at Elmina.
nothing launch yet- but should be some later.

Else, have a check on those in Ara Damansra. Myra and MyAra....
what make u choose here?

That density caught my radar liow, still need to check site, elevation and vacinity mix

This post has been edited by jojolicia: Nov 2 2022, 07:46 PM

Better don't...

Try find others alternative areas....

the advertisement for this is really impressive. But not sure whether is it true that very low maintenance fee.