Mah Sing Group Bhd (8583), the country's fifth largest property developer by revenue, expects overseas projects to contribute 30 per cent of total sales by 2015, group managing director Tan Sri Leong Hoy Kum said.

Currently, there is no contribution from overseas.

Mah Sing has a cash pile of RM233 million and plans to capitalise on opportunities in China, Singapore, Australia, Indonesia and Vietnam.

It will launch its maiden project early next year in Jiangsu province, China, with an investment cost of US$620 million (RM2 billion).
Mah Sing has a 51 per cent stake in the project, which is expected to contribute to its sales from next year.

"We want to replicate what we have been doing here and further enhance our image and branding to be one of the premier lifestyle regional developers. We want to grow big and satisfy our shareholders," Leong told reporters yesterday after the company's shareholder meeting in Kuala Lumpur.

Mah Sing's strong institutional shareholders, who collectively own 56 per cent of the company, include Permodalan Nasional Bhd, the Employees Provident Fund and Koperasi Permodalan Felda Bhd.

Mah Sing has 21 projects worth RM6.3 billion in the Klang Valley, Penang and Johor.

The company has set a sales target of RM1 billion this year. In the first three months, it raked in sales of RM601 million.

Leong said that Mah Sing was confident of exceeding its 2010 target with contributions from its new projects and unbilled sales of RM1.1 billion.

Among the projects to be launched in the second half of the year are the Icon Residence @ Mont'Kiara, M Suites @ Jalan Ampang, One Legenda in Cheras, Garden Residence and Garden Plaza in Cyberjaya, and Austin Suites in Johor Baru.

Mah Sing is also scouting for niche, quick-turnaround landbank in Kuala Lumpur, Penang and Johor and an area of more than 80ha in Selangor, Leong said.

"When we buy land, we want to launch immediately and lock in sales to pare down debts. Property business is a financial game. You have to manage your cash flow.

"We are not highly geared now. With good concept, branding and track record, we are able to sell well all our products. We are confident our niche products will attract locals and foreigners," he said.

Leong added that Mah Sing was keen to develop the prized government land in Sg Besi and Sg Buloh and had expressed its interest to the government. It also wants to lend a hand in the proposed international financial hub in Kuala Lumpur.

SOURCE: Business Times

It begins with the Penang essence which has drawn and charmed generations of visitors. It is distilled from the colourful convergence of diverse cultures on Penang’s waterfront – an eclectic mix of Malay, Chinese, Indian, Nonya Baba, Jawa-Peranakan and European traditions, architecture, food and festivals. The Penang essence is not to be found anywhere in the world. In THE LIGHT, the Penang essence prevails, inspiring fresh interpretations of the island’s endearing appeal. Today, Penang’s waterfront is a favourite haunt for families and friends, morning, noon and night. Cool, evening strolls, visits to eating stalls here, or simply being there to watch ships and yachts go by are a national pastime. The magnetic allure of Penang’s waterfront and the lure of water will be made to beckon even more strongly by THE LIGHT.

The Light Collection I, the first project among The Light Collection series offering low rise condominium and water villas. The Light Collection I comprises 4 low rise condominium blocks with a total of 152 condominiums and 24 water villas. Each condominium has a built-up area ranging from 1,367 to 1,582 sq.ft. and the 4-storey water villas has a built-up area of 3,132 sq.ft.

The Light Collection I facilities include swimming pool, wading pool, basketball court, bicycle track, squash court at Collection III, common marina at Collection II, gymnasium, jogging track, green park, tennis court, sky lounge.

Property Project : The Light Collection 1 @ The Light Waterfront
Location : Gelugor
Property Type : Luxury Condominium, Water Villas
Land Tenure : Freehold
No. of Blocks : 4 blocks of condominium
No. of Storey : 8
Units per Floor : 6
Built-up Area : 1,367 – 1,582 sq.ft. (Condominium), 3,132 sq.ft. (Water Villas)
Total Units : 152 Condominiums, 24 Water Villas
Developer : IJM Land
Website : www.thelightwaterfront.com

Elit Heights, a mixed development located within Bayan Baru township in Penang. This freehold development comprises 600 designer suites spread across 3 tower blocks. The units measure approximately 1,300 sq ft – 1,900 sq ft in size.

This development is close to various amenities such as Sunshine Square, Mayang Mall, Kompleks Pasar Bayan Baru, the local mosque, Giant hypermarket and the Pantai Mutiara Hospital. It is within a few minutes’ drive to the Penang International Airport and Penang bridge.

Elit 1

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Elit 2

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Elit 3

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Project Name : Elit Heights
Location : Bayan Baru, Penang
Property Type : Mixed Development
Built-up Area : 1,300 sq.ft. onwards
Total Units: 600 (Residential)
Land Tenure : Freehold
Developer : Seal Properties Sdn. Bhd.

Contributed by Pen – 13/03/2013

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Contributed by Reader – Nov/2013

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Skyhome, a beachfront development located within in the popular tourist haven of Tanjung Bungah,Penang. It is located along Jalan Tanjung Bungah, about 15 minutes drive away from George Town.

This freehold condominium comprises a 32-storey condominium, offering 47 standard residential units and 5 penthouses. Units at Skyhome have a sprawling built-up of 6,300 sq ft with penthouse unit measuring a whopping 12,300 sq ft.

Project Name: SkyHome
Location : Tanjung Bungah, Penang
Property Type : Condominium
Tenure : Freehold
Total Units : 47
Built-up Area : 6,300 – 12,300 sq.ft.
Developer : Giant Resorts (Tanjung) Sdn. Bhd.

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AN INTERNATIONAL marina, premium water-taxi service, upscale food and retail outlets and commanding views of the Andaman Sea are among the attractions property developer E&O Property Development Bhd will offer potential buyers at its RM1.8 billion Quayside Seafront Resort Condominum development in Penang next month.

The company's general manager (sales and marketing) Lim Hooi Yen yesterday said the luxury condominium project – which is part of E&O's Seri Tanjung Pinang waterfront development – will also boast the region's first private waterpark within a gated community.

"Apart from marketing the project to well-travelled and well-heeled locals, we will also promote the units in markets like Singapore, Hong Kong, Medan, Jakarta, Surabaya, China, Australia, Japan and Korea," she told a media briefing at the project site in Penang.

The Quayside condominiums, which comprise seven blocks of seafront units, will be sprawled on a 8.4ha site, with 1.8ha of land dedicated to a signature waterpark and clubhouse.

Lim said the proposed project is expected to be completed in about seven to 10 years and about 60 per cent of the total 1,200 Quayside condominium units are expected to be sold to Malaysians.

On the Straits Quay retail marina, which is adjoining the Quayside Condominiums, Lim said the 4.96ha retail enclave will offer everything from boutiques to bistros, seaside cafes, bars and boat rides.

"Just like in Venice, Italy, we hope to introduce the E&O limo which will be a water limousine service," she added, saying that the com-pany has already identified a watercraft that is needed for the water-taxi service.

"We also plan to engage the fishermen in the area to work with us, by having local fishing boats bringing in the island's fresh catch of the day twice daily to a fishermen's pontoon which we plan to build."

Straits Quay and the marina are expected to open by the end of this year, she added.

SOURCE: Business Times