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> ECO ARDENCE, SETIA ALAM, EcoWorld crafting Liveable Setia Alam Investment

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TSaccetera
post May 30 2016, 09:14 PM

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Now maybe launch Phase 1: superlink first.
ape
post May 31 2016, 12:10 PM

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QUOTE(accetera @ May 30 2016, 09:14 PM)
Now maybe launch Phase 1: superlink first.
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Thanks for your insider info. Btw they have taken away the eco ardence in their registration page already...
wong8981
post Jun 2 2016, 08:05 PM

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Ms ho or evon will be handling this setia alam ? laugh.gif
Both are handling 2 projects already now.
jrshow
post Jun 8 2016, 11:25 PM

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no news?
Longshot
post Jun 9 2016, 07:51 PM

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https://youtu.be/yh3HAsZgCzA

Latest video on Eco Ardence

Looks great 😂😂



This post has been edited by Longshot: Jun 9 2016, 07:52 PM
JasonTan0120
post Jun 9 2016, 08:10 PM

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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ECO WORLD DEVELOPMENT GROUP BERHAD ("EW BERHAD") (I) PROPOSED ACQUISITION OF 50% EQUITY INTEREST IN JENDELA HIKMAT SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM303,500,000 ("PROPOSED ACQUISITION"); AND (II) PROPOSED JOINT VENTURE TO DEVELOP APPROXIMATELY 533.92 ACRES OF LAND IN MUKIM BUKIT RAJA, DISTRICT OF PETALING, STATE OF SELANGOR ("PROJECT LAND") ("PROPOSED JOINT VENTURE") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")

ECO WORLD DEVELOPMENT GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description ECO WORLD DEVELOPMENT GROUP BERHAD ("EW BERHAD")

(I) PROPOSED ACQUISITION OF 50% EQUITY INTEREST IN JENDELA HIKMAT SDN BHD FOR A TOTAL PURCHASE CONSIDERATION OF RM303,500,000 ("PROPOSED ACQUISITION"); AND

(II) PROPOSED JOINT VENTURE TO DEVELOP APPROXIMATELY 533.92 ACRES OF LAND IN MUKIM BUKIT RAJA, DISTRICT OF PETALING, STATE OF SELANGOR ("PROJECT LAND") ("PROPOSED JOINT VENTURE")

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
The Board of Directors of EW Berhad (“Board”) wishes to announce that on 9 June 2016, Eco Grandeur Sdn Bhd ("Eco Grandeur"), a wholly-owned subsidiary of EW Berhad, has entered into the following agreements:



(i) a conditional share sale and purchase agreement (“Share SPA”) with Cascara Sdn Bhd ("Cascara") for the proposed acquisition of 50% of the equity interest in Jendela Hikmat Sdn Bhd ("Jendela Hikmat") amounting to 21,000,000 ordinary shares of RM1.00 each in Jendela Hikmat (“Sale Shares”) for a total consideration of RM303,500,000; and



(ii) a subscription and shareholders’ agreement (“SSA”) with Cascara and Jendela Hikmat, whereby on completion of the sale and purchase of the Sale Shares pursuant to the Share SPA, Eco Grandeur and Cascara have agreed to invest and fund Jendela Hikmat as the joint venture vehicle to develop the Project Land as a mixed residential and commercial development to be known as “Eco Ardence”;



both agreements upon the terms and subject to the conditions therein contained.



Further details of the Proposals are set out in the attachment below.



This announcement is dated 9 June 2016.






Please refer attachment below.

Attachments

EW Berhad Announcement 9 June 2016.pdf
477.0 kB

Announcement Info
Company Name ECO WORLD DEVELOPMENT GROUP BERHAD
Stock Name ECOWLD
Date Announced 09 Jun 2016
Category General Announcement for PLC
Reference Number GA1-09062016-00033

csdarkjedi
post Jun 9 2016, 08:20 PM

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QUOTE(Longshot @ Jun 9 2016, 07:51 PM)
https://youtu.be/yh3HAsZgCzA

Latest video on Eco Ardence

Looks great 😂😂
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Looks like got a lot of ES element inside the video 😄
Babizz
post Jun 9 2016, 09:06 PM

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Eco World Development Group Bhd (EcoWorld) today entered into a joint venture (JV) with Cascara Sdn Bhd to develop Eco Ardence, a freehold 533.92-acre luxury township with an estimated gross development value (GDV) of RM8.5 billion, next to Setia Alam.

The JV entails two agreements — EcoWorld’s wholly-owned subsidiary Eco Grandeur Sdn Bhd entering a conditional share sale and purchase agreement to acquire half of the shares in Cascara’s unit Jendela Hikmat Sdn Bhd for RM303.5 million, and a subscription and shareholders’ agreement to jointly develop the project land.

The agreements were signed by EcoWorld president and CEO Datuk Chang Khim Wah and Cascara representative Mohammed Rashdan Mohd Yusof here, witnessed by EcoWorld chairman Tan Sri Liew Kee Sin and Jendela Hikmat chairman Tan Sri Che Md Noor Mat Arshad.

"The project has about 10 phases, and should be completed in eight years. We are aiming to launch the first phase in the first quarter of 2017. We should be launching the landed residences first," Chang told reporters after the signing ceremony today.

He added that 40.43% of the township will be allocated for landed and high-rise residences, 5.62% for affordable housing, 14.7% for commercial properties, 10.31% for community facilities, 12.2% for green space and 16.4% for road and infrastructure.

Chang noted that while Eco Ardence will be a luxury development that boasts EcoWorld’s signature large roundabouts, landscaping and water features, it will also have mid-range and affordable homes.

Moreover, the township will cater for upgraders from the locality, not foreigners, he added.

"Eco Ardence's strategic location, large and relatively affluent population catchment will enable us to create a township with multigenerational appeal. We plan to have a good mix of luxurious and affordable landed homes for upgraders. There will also be innovatively designed apartments and well-conceptualised integrated commercial units," he said.

"We all know Shah Alam and Setia Alam are mature areas. There are many people living there for more than 10 years. Launching a luxury project is tough now but we believe the right product will always attract people," Chang noted.

He also said that the project was supported by infrastructural improvements such as the opening of the New Klang Valley Espressway (NKVE) link to Jalan Meru via Setia Alam, widening of Jalan Meru and improvements to surrounding access roads.
mascot_lim
post Jun 9 2016, 09:19 PM

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Finally....


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Jdite
post Jun 9 2016, 09:38 PM

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What happen to the 30% shares owned by LTAT in jendela hikmat?

http://www.nst.com.my/news/2016/04/142442/...kmat-rm180m?m=1
kyle_kl
post Jun 9 2016, 09:56 PM

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http://www2.theedgemarkets.com/my/article/...velopment-klang

"Elaborating on the proposed development, EcoWorld said the project will comprise a good mix of landed bungalows, semi-detached houses and terrace houses, along with integrated high, mid- and lowrise residential and commercial units within a fully strata-titled, gated and guarded environment."
nivota
post Jun 9 2016, 10:03 PM

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QUOTE(Jdite @ Jun 9 2016, 09:38 PM)
What happen to the 30% shares owned by LTAT in jendela hikmat?

http://www.nst.com.my/news/2016/04/142442/...kmat-rm180m?m=1
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Boustead already disposed all of it isn't?
anyway i hope they price it reasonably, consider this is similar to last time ES, EW third party buyer (Talam - IJM - Tropicana - EW) they need to put the price higher in order to offset the premium

Jdite
post Jun 9 2016, 10:15 PM

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QUOTE(nivota @ Jun 9 2016, 10:03 PM)
Boustead already disposed all of it isn't?
anyway i hope they price it reasonably, consider this is similar to last time ES, EW third party buyer (Talam - IJM - Tropicana - EW) they need to put the price higher in order to offset the premium
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In the article it says boustead own 30%, LTAT 30% and the cascara 40%
kei86
post Jun 9 2016, 10:35 PM

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As i know that this year end will launch Eco garden from alam impian,i ask on some SA at Eco sanctuary last week on the event of Light ON
Jasoncat
post Jun 9 2016, 11:41 PM

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Good. Lost the Eco Marina (GDV: RM10B) deal but immediately come with this (GDV: RM8.5B) Eco Ardence. thumbup.gif
Jasoncat
post Jun 10 2016, 12:17 AM

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Interested to see how it will compete with Setia Eco Park since Eco Ardence will be developed as luxury township as reported hmm.gif
Jasoncat
post Jun 10 2016, 12:59 AM

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It was reported earlier that "Jendela Hikmat owns 577.58 acres of land in Selangor and in Kuching". Since Eco Ardence is only 533.92 acres, it means the JV may extend EW's presence to Kuching, Sarawak with land for development of 43.66 acres hmm.gif
imnics
post Jun 10 2016, 03:01 AM

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Official website is live! rclxms.gif rclxms.gif
Eco Ardence


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TSaccetera
post Jun 10 2016, 09:24 AM

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The project is located in the vicinity of Bukit Raja, Bandar Setia Alam and Setia Eco Park. The latter two are multiple award-winning townships that helped build chairman Tan Sri Liew’s reputation as an industry leader when he was helming S P Setia Bhd.

"The project has 10 phases, and should be completed in 15 years. We are aiming to launch the first phase in the first quarter of 2017. We should be launching the landed residences first," Chang told reporters after the signing ceremony today.

Eco Ardence will comprise a good mix of landed bungalows, semi-detached houses and terrace houses along with integrated high, mid and low-rise residential and commercial units within a fully strata-titled gated and guarded environment.

Chang added that 40.43% of the township will be allocated for landed and high-rise residences, 5.62% for affordable housing, 14.7% for commercial properties, 10.31% for community facilities, 12.2% for green space and 16.4% for road and infrastructure.

- See more at: http://www.ptlm.com.my/index.php/component...t-to-setia-alam
brianccg
post Jun 10 2016, 09:41 AM

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Wow....

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