APLand — From textiles to properties and plantations

Property News/ 13 January 2011 Leave a comment


ASIA Pacific Land Bhd (AP Land) (1716), founded in 1961, was initially involved in textile business, operating under the name of Min Ngai Knitting Factory (Malaya) Sdn Bhd.

It was listed on the Kuala Lumpur Stock Exchange and the Singapore Stock Exchange in 1969. In 1990, it was delisted in Singapore.

The company changed its name to Public Textile Bhd in 1973. It diversified into property development in 1981 and was known as Public Corp Bhd.

In 1983, Public Corp took over the business of Mount Pleasure Corp Sdn Bhd, and changed its name to Mount Pleasure Holdings Bhd.
Mount Pleasure became a major property investor in 1990 when it bought City Square Centre, the country's first integrated commercial development.

City Square comprised the Empire Tower, Crown Princess Hotel and City Square mall, located at the junction of Jalan Tun Razak and Jalan Ampang.

AP Land assumed its present name in 1990. It ventured into oil palm plantation in 1997 and marked its foray in Indonesia's plantation sector in 2007.

In the same year, it sold City Square to MGP I (Mal) Sdn Bhd, which was advised by Macquarie Global Property Advisors, for RM680 million.

Its current projects are myHabitat in Kuala Lumpur, Bandar Tasik Puteri in Rawang, Selangor, and Penang Island Bay Resort.

SOURCE: Business Times

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