KUALA LUMPUR (Dec 1): UEM Sunrise Bhd ( Valuation: 2.60, Fundamental: 1.50) and WCT Holdings Bhd ( Valuation: 2.40, Fundamental: 0.80) plan to undertake a RM3 billion mixed-property project in Serendah, Selangor, under a proposed equally-owned joint venture (JV).

In a statement to Bursa Malaysia today, UEM Sunrise said the JV intended to develop freehold land measuring 243ha (608.63 acres).

UEM Sunrise and WCT had today signed a conditional subscription and shareholders agreement, under which UEM Sunrise proposed to buy a 50% stake in the expanded share capital of Jubiliant Courtyard Sdn Bhd (JCSB) for RM214.88 million.

Land owner JCSB is currently a wholly-owned subsidiary of WCT. Upon completion of the stake buy, UEM Sunrise and WCT will own 50% each in JCSB.

At the signing ceremony here today, UEM Sunrise managing director and chief executive officer Anwar Syahrin Abdul Ajib said the JV was a move to strengthen the company's position by expanding outside southern Johor.

"The contribution of this project is expected to come in from 2018 onwards. Over a period of 10 years, it will contribute significantly to our profit," Anwar Syahrin said.

WCT managing director Taing Kim Hwa said the development would contribute positively to the future earnings to the group too.

Taing said the 10-phase project was scheduled for launch in the fourth quarter of 2017.

At 12.30pm, UEM Sunrise shares settled unchanged at RM1.13 for a market capitalisation of RM5.13 billion.

Shares in WCT was up seven sen or 5% at RM1.52, valuing the company at RM1.81 billion.
http://www.theedgemarkets.com/my/article/u...roperty-project

I suggest that those who are living in the area make a public collection/appeal to the majlis daerah and town council. Its better than gripping about it, as allocation can then be planned for the upcoming years.

Otherwise they allocate their fundings for other places.

If not sure, here are suggestions for those who believe in taking action;

Selangor complaints
http://stars.selangor.gov.my/

Place where Selangor spends their money. Probably MR2 is in area N14.
http://mes.selangor.gov.my/modules/content...un#.Us-qzdKSwqE

If the people didn't try to voice the problems, you won't know if the system works for Selangor.

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I thought we will have streamyx soon? TM tower has been planted all over M Residence area

Can i join group whatsapp?

I HEARD FROM TELEKOM THAT UNIFY MUST WAIT FOR ANOTHER 10 YEARS.

MY FRIEND WORKED IN LOWYAT TOLD ME THAT THE LATAR-BTP WILL FOREVER BEEN SUSPENDED PROJECT DUE TO CERTAIN LAND ISSUES.

HOWEVER, SINCE THEY WANT TO LAUNCH AND SOLD OUT ALL THEIR PROJECTS FIRST BEFORE THEY MAKE SUCH ANNOUCEMENT TO PUBLIC.

SO BAD?

MY FRIEND WHO LIVE IN BANDAR COUNTRY HOME SAID HE IS VERY DISAPPOINTED WITH THE PROGRESS OF UPGRADING WORK, JUST 1.2KM WAY LONG ONLY WHY TAKE SO LONG?

ACTUALLY HE IS WORRIED ABOUT WHEN OPEN SCHOOL NEXT MONTH, THERE WILL BE TERRIBLE JAM.

Agree. At least more people coming, then new development will take place e.g road, school, shops,etc.

How reliable is the source? My understanding is, Anggun 1 and Anggun 2 already have UNIFI 30mbps. Emerald west like garnet, cassis, coris, coral, garden will soon to get it. Then follow by BCH. MR will not have to wait very long for their turn. I doubt 10 years.

ANYONE CAN COMMENT ABOUT MAHSING'S QUALITY IN TERM OF WORKMANSHIP AND PRODUCTS AFTER MOVE IN?

Mah Sing has given year end bonanza bonus of additional 2% rebate.Waa. But we already bought before???Can we still enjoy it??

I bought RM6XX,XXX, then 2% of is RM12,XXX  considered burnt??

M Residence 1 should be sold out already right?

wah really ar? Hmm... i wonder what the response will be with the commodities recession.

Weekend, it is heavy traffic from Toll to AEON. This is due to influx of ppl heading towards Cinema & AEON. You can use alternative route like EE-EW Bridge / Link which operate 1pm-7pm during weekend. PH i think shud be accessible as well.

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There you go. The Red Circle is 1-Way Road (slope) which only open between 1pm-7pm during weekend. Direction is from EE to EW.

your information could be incorrect. I do see it in the master plan. its called phase 6b, one whole row. the show houses will be house no. 1-15, canal link houses (not mentioned as canal link houses) no. 17-71. the clubhouse is phase 6a. btw phase 4 is nowhere near canal garden..

even the website/brochure shows those houses in place.

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the one they should feel cheated is the development of alfresco shoplex which they have replaced with low cost apartment.

It was discussed during our meeting with Mah sing months back, but we have strongly disagree to that, it's actually not the low cost apartment, they are trying to build a condo, but according to them it's still in preliminary stage

If they build something low dense condo like The Parque Residence or Mirage by the Lake, ok or not?

http://ecoworld.my/ecosanctuary/the_collec...residences.html

http://www.oskproperty.com.my/mirage-lake.php