means beside rapidKL， we will have MRT shuttle bus...thats probably 1 bus every 3 mins

It's official,

Aeon sells its Mahkota Cheras shopping mall
Read more at http://www.thestar.com.my/business/busines...pEKrX2wCeIQj.99

KUALA LUMPUR: Aeon Co (M) Bhd is selling the Aeon Mahkota Cheras Shopping Centre and the freehold land on which it sits for RM87.8mil.

In a filing with Bursa Malaysia, the Japanese retail giant’s subsidiary said the proposed disposal to Foremost Wealth Management Sdn Bhd would give it an estimated gain of RM17mil for this financial year ended Dec 31.

The property has a net book value of RM67.4mil for the financial year ended Dec 31, 2016. The two-storey shopping centre building is seven years old.

Aeon said the proposed disposal was in line with its corporate strategy of focusing and developing its future retail business.

The cash proceeds would be used as working capital of the company and to reduce its borrowings, it said.
Read more at http://www.thestar.com.my/business/busines...pEKrX2wCeIQj.99

Finally Aeon BMC has been sold !


The Board of Directors of AEON (“Board”) wishes to announce that the Company has on 29th June 2017 entered into a Sale and Purchase Agreement (“SPA”) with Foremost Wealth Management Sdn. Bhd. (Company No. 1065970-V) having its registered office at No. 40-1, First Floor, Jalan Manis 1, Taman Segar, Cheras, Kuala Lumpur (“Purchaser”) in respect of the disposal of a piece of freehold land held under H.S.(D) 142740, PT No Plot 55919, Mukim of Cheras, District of Ulu Langat and State of Selangor measuring approximately 28,328 square metres (“Land”) together with a 2-storey retail Shopping Centre known as AEON Mahkota Cheras Shopping Centre constructed thereon (“Building”) at a sale consideration of Ringgit Malaysia Eighty Seven Million Eight Hundred Thousand (RM87,800,000.00) Only (“Sale Consideration”) in accordance with all the terms and conditions as stipulated in the SPA (“Proposed Disposal”). The Land and Building are collectively referred to as the “Property”.



2. INFORMATION ON PURCHASER
The Purchaser is an investment holding company incorporated in Malaysia with its place of business at No. 2B, Jalan BM 1/2, Taman Bukit Mayang Emas, 47801 Petaling Jaya, Selangor with a paid-up share capital of RM1,000,000.00.



3. INFORMATION OF THE PROPERTY
The Property comprising a Land which is a freehold land, held under an individual title H.S.(D) 142740, PT No Plot 55919, Mukim of Cheras, District of Ulu Langat and State of Selangor measuring approximately 28,328 square metres in area and the Building erected thereon and bearing the postal address of Jalan Temenggung 21/9, Persiaran Mahkota Cheras 1, Bandar Mahkota Cheras, 43200 Cheras, Selangor Darul Ehsan is currently used for the purpose of operating of a shopping centre with car parks and departmental stores cum supermarket. The Net Book Value of the Property for the financial year ended 31st December 2016 is RM67,400,000.00 and the age of the Building is 7 years.



16. ESTIMATED TIMEFRAME FOR COMPLETION
Unless otherwise agreed by the parties, the completion date is expected to be four (4) months from the date of the Agreement or such other date to be agreed between the Company and the Purchaser.


http://www.bursamalaysia.com/market/listed...cements/5473493

Yup latest by end of Oct 2017, the deal will be completed, no more Aeon BMC

bye ye AEON BMC..always in memory

Curious to know who is this foremost wealth company ?
The nature of business just stated investment company
And it's established in 2011

This post has been edited by danielisme: Jun 30 2017, 09:03 AM

Bmc business fortune will going down hill
After completion of cheras trade square and eco hill mall
After ecohill development completed
All kjg fork will less come to bmc for spending already

i don't think so...cheras trader square may attract some bmc people but can't see they willing to take 30min to ecohill....in fact, i think semenyih people will be attracted to cheras traders square

i'm excited with cheras traders square...will become the CBD of balakong...hopefully the local gov will build a shielded walkway from MRT

This post has been edited by highburybaby: Jun 30 2017, 09:26 AM

Why bmc so crowded because many kjg folk come to bmc for food because they said kjg don't have central business park like bmc
So they say not much food in kjg .
If the business park just depends on bmc folk I think difficult to survive esp food business

Not much information on this company online

Based on CTOS, this company incorporated on 11/10/2013, a relatively new company, if my source still valid service department cum neighborhood mall will be built on the land.
https://www.ctoscredit.com.my/business/FORE...AGEMENT-SDN-BHD

MRT very far from Cheras Traders Square woh.

Ecohill Walk Mall may attract certain Kajang folks but generally Malaysia prefers shop in air-conditioned mall, walk mall still a question mark eg Puchong Setia Walk most unit still vacant after so many years.

This post has been edited by Palmwalker001: Jun 30 2017, 10:16 AM

you mean kajang people will go to ecohill? maybe, because kajang to semenyih not really far....


i thought you said BMC people will go to ecohill ..haha...i think thats almost impossible , they prefer go to cheras traders square or take MRT to KL

i think cheras traders square will become like c108, a lot of western/japanese/korera/taiwan/HK restaurant

Aeon mc closing shop? Always tot aeon malls will do well any idea y this mall nt doing well taikors? Ppl prefer 2 go 2 cheras selatan outlet?

street mall concept?

street mall concept if they can do like bugis in Singapore then maybe different story, most of the street mall concept like station one at Penang, niuzheshui at PJ are dead.

it owned by dato kuan, owner of listed co kanger berhad... new venture into prop development?

China based company ?

Ecohill Walk mall is air-conditional mall, only the retail outside is non air conditional

Haha sure got air-conditioner, how to survive without air-cond...

A walk mall will have a pedestrian walkway & link bridges between the service apartments, neighbourhood mall and the commercial retail shops which is no air-cond, without air-cond will make lesser activities during daytime.

Anyway still awaiting for more details from Aeon & the new buyer on the Aeon BMC future plan, I hope Aeon will stay as a anchor tenant.

His personal investment I suppose, KANGER INTERNATIONAL BERHAD 's AR didn't show the listed co has this subsidiary.

Dato’ Kuan Ah Hock, 53
He started his career in a small-scale construction company in Kuala Lumpur in 1984. In 1989, he started a sole proprietorship under the name of Hock Hup Enterprise specialising in various construction works.

In 1994, he established Setiakon Builders Sdn Bhd (Setiakon) with a few partners to undertake bigger construction projects. Over the years, under his stewardship, Setiakon has grown from strength to strength and has undertaken numerous construction projects valued over RM4 billion. In 2007, Setiakon established Setiakon Builders L.L.C Dubai, UAE to expand into overseas market.

Besides the construction industry, he also established Kah Fishery Sdn Bhd in 2011 to venture into the fishery industry in Pantai Remis.