i am not implying they are running out of fund. It is always best to invite low cost of capital investors such as pension funds to invest along the way.

Take Pavilion KL as an example, they got KFH as investor subsequently sold to QIA.

BJ Sentral, MRCB has the backing of EPF to invest in the project including commercial space.

When did kfh invested in pavilion KL? Before or after completion?

When did mrcb obtained funding from epf, before or after construction begin?

dont say too much,.. fast booked park 2 park sky rite now!! when completion comfirm capital gain gao gao

I am lazy. Yawn.

Do your own research ... Yawn...

AFAIK both sold out ages ago, not sure if there’s any dropout but guess your sarcasm doesn’t works well

http://www.theedgemarkets.com/article/mrcb...l-land-disposal

Not that you are lazy but avoid to answer.

Normally, corporates sign nda and maintain silent until have obtained most if not all approvals. To announce before due diligence has even commence is unusual. As results of due diligence could goes either way.

There is no smoke without fire.

This post has been edited by icemanfx: Jan 23 2019, 10:51 PM

WOW BUKIT JALIL !!!

http://www.thestar.com.my/business/busines...-jalil-project/

PETALING JAYA: The Employees Provident Fund (EPF) has proposed to take up a 80% stake in one of the three parcels of land that Malaysian Resources Corp Bhd (MRCB) would receive from the Government when it completes the refurbishment and upgrading facilities at the National Sports Complex (NSC) in Bukit Jalil under the privatisation agreement with the Government.

MRCB said in an announcement that the EPF would be paying a total of RM421mil for an 80% stake in 28.13 acres, which is part of the 92.51 acres that MRCB would get in exchange for refurbishing and upgrading the stadium and its surrounding facilities in a privatisation deal worth RM1.6bil.

The remaining 20% stake would be held by MRCB.

Under the original terms of the privatisation agreement that was sealed in October last year, MRCB had a 85% stake in the whole privatisation project, while Rasma Contractors Sdn Bhd had the remaining 15% in the entire project.

In the latest proposed deal, the EPF would hold 80% with MRCB’s stake being 20% in the development of the portion of land measuring 28.13 acres only.

Based on the announcement, there is no mention of Rasma Construction in the development of that particular portion.

MRCB explained that the EPF would settle the payment of the land in two tranches and when all conditions are met. The first would involve RM397mil valuing the land at RM405 per sq ft (psf), while the second payment would amount to RM24.5mil or an additional RM25 psf when all conditions are met and approvals are obtained.

“The deal can only be completed two years down the road when MRCB actually gets possession of the land after the first phase of the refurbishment and upgrading works are completed.

“MRCB also has to fulfil all conditions such as getting the development order and plot ratio,” said a merchant banker familiar with the transaction.

Among the conditions that MRCB has to fulfil are to get a plot ratio of not less than 1:6.5 and all necessary approvals from the authorities.

“Prior to the signing of the agreements, MRCB shall provide the EPF with a full market study report and a business plan, including a timeline for the development of the land,” MRCB said.

“The agreements shall be subject to the EPF being satisfied with the results of their due diligence,” the company added.

Under the proposed agreement with the EPF, MRCB would be appointed as the main contractor for the development of the land.

In the privatisation agreement, MRCB under the first phase is required to upgrade the main stadium, the aquatic centre, the hockey stadium and other facilities such as lighting.

The cost is estimated at RM499mil. Upon completion of the first phase of the project, MRCB would get the first parcel of land measuring 28.13 acres.

Hardworking aunty can share more??? When can they develop tunku San???

:-D

who want buy park 2... me got few unit re open fast fast

Try ask ah bean gor after he is out of the bars.

can PM price and package?

750 square feet 933 square feet

any news?

Ya
Change name to pavilion Harrod bukit Jalil

qatar investment authority comfirm take or not?? if yes i need to do compression loan for park 2

Yes
Qatar is buying 100% stake in pav bukit Jalil
Changing name to pav Harrod
First in Malaysia

If Qatar has 100% ownership, it doesn't need pav brand, could rename to Harrod bj. Harrods more high class than pav. May be Arabs will sapu all units in surrounding area, BBB.

This post has been edited by icemanfx: Jan 25 2019, 08:08 PM

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