'Kalau PH Tak Batalkan Canal City Dulu...' - Najib

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Quote Samerosie 24-12-2021 11:42 AM

It will still be flooded somwhere elss….

Quote JamilBinAbu 24-12-2021 11:45 AM

rakyat merana, developer kenyang.

Quote Orix 24-12-2021 11:47 AM

eleh dh jd banjir baru ko berbunyik... sebelum ni ms kau jd piyem xde plak ko berbunyik knp projek ni dibatalkan bagai... mcm tu la jugak bila atok suruh buat jambatan bengkok singapore pak lah tidoq pegi batalkan, padahal tembok singapore tu kalau paras air laut naik anytime jah tenggelam... kapal pun susah nak lalu... ms tu najib kata atok marah sbb projek tu batal sbb kroni.. puih kau la.. SMART tunnel tu pn kalo bukan idea atok dah lama KL tenggelam..

Quote tripleid 24-12-2021 11:49 AM

diamlah kau banduan!!

Quote axl_bach 24-12-2021 12:00 PM

Menarik nak tau justifikasi dan rasional kerajaan PH Selangor apsal x teruskan Canal City nih...

Quote axl_bach 24-12-2021 12:01 PM

Work at Canal City project ongoing
The Editor

TheEdge

April 02, 2009 05:27 am +08

PETALING JAYA: Construction work on the Canal City project in Kuala Langat, Selangor, is going ahead as scheduled, except for the canal component which is being renegotiated with the state government, said IJM Land Bhd, the equity partner in the project.

“Only works on the canal component have stopped, as our partner is renegotiating the flood mitigation plan for the project with the state government; other components of the project are still ongoing.

“There is still around 2,700 acres (1,080 hectares) left to be developed in the projects,” IJM Land managing director Datuk Soam Heng Choon clarified after the launch of IJM Land’s ‘My Space Plan’ home ownership promotion here yesterday.

The current Selangor state government is believed to have asked for a more comprehensive flood mitigation plan. Total gross development value of the Canal City project is estimated at around RM10 billion.

IJM Land and Kumpulan Europlus Bhd (K-Euro) are jointly developing the Canal City project. IJM Land’s parent IJM Corporation Bhd also holds a 25% stake in K-Euro.

Soam was clarifying a report in The Edge Financial Daily that construction and related work at the Canal City project, which started towards the end of 2007, had stopped.

K-Euro had announced recently the new state government had requested changes to the original privatisation plan, including omission of the main canal and its related work.

As part of the deal inked earlier with the previous state government, the 1,960ha Canal City involves the flood mitigation project in the form of an 18km-canal linking Sungai Klang and Sungai Langat, estimated to cost around RM745 million. In return, K-Euro gets the land.

However, given that the proposed canal was being renegotiated and the revised terms and conditions were being worked out, K-Euro has said the land, already alienated to its 35% associate Canal City Construction Sdn Bhd (CCCSB), would be considered sold to CCCSB at a price to be mutually agreed upon.

Meanwhile, Soam said IJM Land still owns 3,200ha-3,600ha of landbank, including those in Canal City, and had a total potential gross development (GDV) value of RM17 billion for development spanning over 20 years.

On its ‘My Space Plan’ home promotion, he said IJM Land was targeting to rake in sales of between RM200 and RM250 million over a three month period from the campaign.

While acknowledging that property prices had softened in tandem with the slowing economy, Soam said response from buyers was still very encouraging, particularly for medium and mid-high end properties, the company’s mainstay.

Citing an example, Soam said the recent soft lanch of its Summer Place beachfront project in Penang, with an average price of RM330,000, managed to record sales of 200 units during the first day of launch earlier last month.   

It is also offering a unique buy-back guarantee for its high-end Ampersand @ Kia Peng project as part of the incentives offered under the ongoing promotion. This scheme offers buyers the option to sell back to IJM Land within three months of purchase at 95% of the property value.   

About 60% of IJM Land’s Summer Place project has been sold, while the take-up rate for Ampersand @ Kia Peng, with average selling price of RM3 million per unit, stands at 50%. IJM Land plans to launch around 10 new projects in its current financial year, offering properties worth over RM700 million.

Some of its properties included in the current nationwide promotion are The Light, Platino, and Summer Place in Penang, Seremban 2 in Negri Sembilan, Shah Alam 2, PJ8 in Petaling Jaya, Laman Baiduri in Subang Jaya, Nusa Duta and Casa Impian in Johor and Ampersand @ Kia Peng within the KLCC vacinity.

This article appeared in The Edge Financial Daily, April 2, 2009.

Quote axl_bach 24-12-2021 12:02 PM

Dijaya in RM1.3b deal to buy ‘Canal City’

Friday, March 31st, 2017 at Business | Corporate Malaysia


Property developer Dijaya Corp Bhd has entered into a deal to acquire a substantial acreage of land cum profit sharing property development in Selangor from the state government amounting to about RM1.3 billion.

The transaction will more than double Dijaya’s landbank from 800 acres (323.75ha) to 2,000 acres while the deal is estimated to boost the company’s gross development value (GDV) from an estimated RM50 billion to a potential RM70 billion, Dijaya told the exchange yesterday.

Its wholly owned subsidiary, Sapphire Index Sdn Bhd, has entered into a sale and purchase agreement cum development agreement with the mentri besar of Selangor and Permodalan Negeri Selangor Bhd (PNSB) for the 1.172 acres of land in Mukim Tanjong Duabelas, previously known as “Canal City”.

The “Canal City” project was cancelled by the Selangor state government in 2011 as it was deemed as not being beneficial to the people.

The land is a part of the 4,000 acres that came with the state government’s takeover of Talam Corp Bhd.

The acquisition comprises land purchase price of RM587 million, interest cost, share of GDV and profit entitlement from the development of the land through smart partnership with PNSB, according to a statement by Dijaya.

The purchase price will be satisfied in deferred payment for a period of up to 20 years at a 5% interest per year of up to RM252 million.

“The deferred payment terms coupled with our low upfront capital outlay bodes well for its viability. With strong prospects for capital appreciation due to excellent accessibility, this project can potentially generate a GDV of up to RM20 billion when fully completed over its 15-20 year targeted development timeframe,” said Dijaya group MD Datuk Dickson Tan Yong Loong in the statement.

Dijaya plans to build an integrated township comprising landed houses, condominiums, serviced apartments, shop offices, corporate office towers, shopping malls, private hospitals and international schools that are earmarked to be launched within the next two years.

The statement added that for the current year, Dijaya is planning to launch existing and new properties with an estimated GDV in excess of RM3 billion as well as its maiden launch at Penang World City, a RM10 billion integrated development at the gateway of Penang Island.

Kenanga Research in its research note last month gave Dijaya an ‘Outperform’ call and a fair value of RM2.05 per share, citing a bright outlook on the back of the firm’s RM50 billion total GDV, adding that Dijaya’s pipeline is bigger than other local property developers like Mah Sing Group Bhd, Sunway Holdings Bhd and IJM Land Bhd, and it holds prime land-bank around the country.

The research house expects the company’s core earnings for 2013 to nearly triple year-on- year to RM166 million. Dijaya closed at RM1.55 yesterday, up two sen from the day before.

Quote axl_bach 24-12-2021 12:03 PM

Perkara yg Najib bangkitkan nih berasas, dan rakyat Selangor berhak dpt jawapan konkrit dari kerajaan PH atas rasional apa projek ini didakwa NOT BEING BENEFICIAL TO THE PEOPLE

Quote axl_bach 24-12-2021 12:06 PM

Selangor govt to gain additional RM550m from Canal City land sale
06 Apr 2015 / 18:56 H.

SHAH ALAM: The Selangor state government is set to gain an additional RM550 million under the new terms of agreement signed with Tropicana Corporation Berhad over the sale of an 1,172 acre land in Kuala Langat for RM1.3 billion in April 2013.

Mentri Besar Mohamed Azmin Ali (PKR-Bukit Antarabangsa) said the state government is now entitled to a 9% share of the Gross Development Value (GDV) of the land, the payment period was shortened from 20 years to 12 years, and that Sapphire Index Sdn Bhd (SISB), wholly owned subsidiary of Tropicana, is barred from selling the land to third parties.

"Under these new terms, Mentri Besar Incorporated (MBI) estimates that the state government can gain an additional RM550 million in returns," Azmin told the state assembly today.

He said the estimated returns are calculated based on Tropicana's submission to Bursa Malaysia that the land, formerly known as Canal City, in Kuala Langat near Kota Kemuning has a GDV of about RM20 billion.

The land was initially sold for RM587 million at a value of RM18.50 per sq ft payable in 12-year instalments, with the state government entitled to 5% GDV share and 3% profit share, amounting to a total of RM1.3 billion payable over 20 years.

However, 11 months after the sale and purchase agreement was signed between MBI and SISB, the latter sold 308.72 acres of land to Prominent Stream Sdn Bhd, a wholly-owned subsidiary of Eco World Development Sdn Bhd, at a value of RM35 per sq ft or RM470 million, with a net profit of RM170 million.

Azmin said the old agreement was lopsided to the advantage of Tropicana and the new MBI management had reviewed the terms so to better safeguard the state's interests.
"The new MBI management reviewed the terms so that the interests of the state government are protected, with fairer returns that are secured and guaranteed within a more acceptable period," he said.

Azmin said this in reply to an oral question by Yeo Bee Yin (DAP-Damansara Utama), who asked for an update on the Canal City land sale and the new terms of agreement.

Quote axl_bach 24-12-2021 12:07 PM

IJM Land set to launch Canal City project by early 2012
Facebook Twitter     
November 22, 2011 | Updated 6 years ago
SINGAPORE (Nov 22): IJM Land Bhd, a leading property developer in Malaysia, is set to mount a roadshow to launch the Canal City project in the Klang Valley early next year.

Chief executive officer and managing director Datuk Soam Heng Choon said:"We are going to launch the Canal City in the Klang Valley middle of next year.

"So, we are going on a road show for the launch (of the project) may be by the beginning of the year.

"It was called the Canal City last time, but we are going out there (during the roadshow) to give it a rebranding," he told Bernama on Tuesday.

The project with a gross development value of more than RM10 billion will be sprawled over 800 hectares at the back of the Kota Kemuning and Kota Permai Golf Course in Shah Alam, Selangor.

"The design will be based on the green city concept. It is one of the the first green township that we are developing and the project will be one of the first few big green townships in Malaysia" he added.

Soam said the project, comprising a mixed township of commercial and residential components, would be fully completed within 12-15 years.

Touching on the city concept, Soam said a water and canal feature would be incorporated to run through the entire development.

On the probability of looking for investors, Soam said:"Not so much because we already have experience in carrying out township developments.

"We actually have township and niche project developments like "The Light Waterfront Penang" project," he said.

Spread over 60 hectares, the RM5.5 billion iconic waterfront development will comprise residential and commercial components complete with 100% fibre optic infrastructure.

Soam said IJM Land was currently undertaking projects in Penang, Klang Valley, Johor, Sabah and Kuching.

Currently, IJM Land has a landbank exceeding 4,000 hectares with a gross development value of more than RM20 billion to be realised over 20 years. — Bernama

Quote depresio 24-12-2021 12:11 PM

Pahang pon patut ada canal city..

Najib lupa ke?

Quote axl_bach 24-12-2021 12:11 PM

Canal City land deal at the final stage. The Canal City land deal is currently at the final stage. Upon relocation of the squatters and the necessary steps to settle the squatters, the land is staged to become a major township development for IJM Land in the coming years.

From our recent meeting with management, we gather that IJM Land has recently signed a termination agreement with the state government for the construction of canal. To recap, under the agreement signed with the previous state government, a 18-km canal is required to be built for flood mitigation, linking Sungai Klang and Sungai Langat. Since the construction of the Smart Tunnel, the canal is no longer needed as part of the flood mitigation plan.

For the development to be taken off, the JV company (50% with Keuro) will have to incur some cost for the land, including the construction of low-cost component for squatters and acquisition of replacement oil palm land for squatters.

We estimate that these would translate to a price of about RM4-6 psf for the land, which is rather attractive in our view, as it is getting very difficult to secure a large parcel of land in Klang Valley.

Based on management’s guidance, the leasehold development, which will be re-named later, will worth a GDV of about RM4bn, but we think there is further upside potential given IJMLD’s brand name, innovative value- added concept and step-up pricing for its property launches.

The land is surrounded by a few townships - Putra Heights (by Sime Darby Property), Kota Kemuning (by Gamuda) and mid-end development Bandar Saujana Putra (by LBS). There will be two key access to Canal City land:
(i) Behind Kota Kemuning; and
(ii) Through Saujana Putra Interchange.

We think IJMLD’s range of properties offered will be similar to Putra Heights and Kota Kemuning. The mid-end development by LBS should not affect the development potential of Canal City land, considering the IJMLD’s track record on quality, value-added concept with modern design.

Furthermore, we understand that Putra Heights project is almost fully sold and Kota Kemuning is a matured township. Hence, we expect some spilt-over demand from the neighborhood.  "

Quote axl_bach 24-12-2021 12:14 PM

Canal City jadi Bandar Rimbayu

Quote zidane_ziege 24-12-2021 12:22 PM

Canal city apak kau..sungai semua penuh nak tuju air tu kemana? Ke jalan langak rumah kau tu ke?

Quote aHoi83 24-12-2021 12:22 PM

axl_bach replied at 24-12-2021 12:02 PM
Dijaya in RM1.3b deal to buy ‘Canal City’

Friday, March 31st, 2017 at Business | Corporate Malays ...

Baru nk maki najib suh senyap. Thank@axl_bach . I tgu jawapan dari PH selangor. waktu tu azmin ali ke khalid menteri besar selangor ? Rase 2017 mcm jemin MB

Quote sam1528 24-12-2021 12:27 PM

axl_bach replied at 24-12-2021 12:01 PM
Work at Canal City project ongoing
The Editor

Memang patut pon kerajaan Selangor batalkan projek ni

Kalo baca laporan tersebut
(1) dari 2008 hingga 2011 apa pon tak start
(2) projek ni dengan 'canal' saja akan alirkan 30% air berlebihan dari sungai Klang ke Sungai Langat waktu puncak tapi pada banjir baru2 ni dua2 sungai dah overflow- tu pasal kerajaan Selangor mintak a more comprehensive flood mitigation plan
(3) IJN pandai jugak , depa nak carik duit dengan jual rumag dulu tapi sales were soft

On its ‘My Space Plan’ home promotion, he said IJM Land was targeting to rake in sales of between RM200 and RM250 million over a three month period from the campaign.

While acknowledging that property prices had softened in tandem with the slowing economy, Soam said response from buyers was still very encouraging, particularly for medium and mid-high end properties, the company’s mainstay.

Quote axl_bach 24-12-2021 12:31 PM

Perspektif PNSB berhubung Canal City
Permodalan Negeri Selangor Berhad
Diterbitkan:  Apr 3, 2014 4:44 PM
⋅
Dikemaskini: 4:47 PM

Berikutan laporan media mengenai penjualan tanah Tropicana kepada Eco World Development Group Berhad. Permodalan Negeri Selangor Berhad (PNSB) ingin memberikan perspektif mengenai penjualan tanah ’Canal City’ kepada Dijaya Corporation Berhad (Tropicana Corporation) pada tahun 2013.

Pada asalnya, tanah seluas 1,172.28 ekar ini merupakan sebahagian tanah bagi pembangunan Projek Tebatan Banjir (PTB).

Namun projek ini dibatalkan kerana hasil daripada laporan kajian ‘desktop study’ daripada Jabatan Pengairan dan Saliran (JPS) Negeri Selangor memutuskan adalah tidak perlu untuk membangunkan projek tebatan banjir kerana keupayaan bagi kolam-kolam takungan banjir sedia ada adalah mencukupi.

Dan pembatalan projek ini telah dipersetujui oleh Majlis Mesyuarat Kerajaan Negeri (MMKN) pada tahun 2010.

Pada tahun 2011, mesyuarat Lembaga Pengarah PNSB telah bersetuju terhadap cadangan pengeluaran ‘Request for Proposal (RFP) bagi tanah tersebut dan PNSB telah menubuhkan jawatankuasa penilai yang dianggotai oleh Ahli Lembaga Pengarah PNSB, Pihak Pengurusan PNSB dan individu professional dari pelbagai bidang untuk menilai cadangan-cadangan pada RFP tersebut.

Justeru, Lembaga Pengarah PNSB dengan syor Pengurusan PNSB bersetuju Dijaya Corporation Berhad ditawarkan tender RFP tersebut dan menerima tawaran pulangan minima berjumlah RM1.297 billion.

PNSB percaya bahawa penjualan tanah ini pada masa tersebut adalah baik bagi Negeri Selangor berdasarkan pulangan yang diterima, bukan sahaja dalam bentuk pulangan nilaian tanah malah, mendapat sebahagian daripada keuntungan projek yang akan dilaksanakan.

Namun itu, berdasarkan transaksi penjualan tanah terbaru dari pihak Tropicana Corporation kepada Eco World Development Group Berhad, Kerajaan Negeri telah mendapat perspektif baru terhadap perjanjian antara PNSB.

Ddan anak syarikat Tropicana Corporation iaitu Sapphire Index Sdn Bhd di mana Kerajaan Negeri melalui Pemerbadanan Menteri Besar Selangor (MBI) membuat perancangan untuk menawarkan kepada Tropicana penjualan secara Tunai berdasarkan Nilai Bersih Terkini (Net Present Value) berjumlah RM844,298,433 juta berbanding pulangan RM1.297 bilion yang sepatutnya dibayar dalam tempoh 20 tahun oleh Tropicana Corporation.

Permodalan Negeri Selangor Berhad (PNSB)

Quote axl_bach 24-12-2021 12:31 PM

aHoi83 replied at 24-12-2021 12:22 PM
Baru nk maki najib suh senyap. Thank@axl_bach . I tgu jawapan dari PH selangor. waktu tu azmin ali ...

bkn TASKI ker?

Quote axl_bach 24-12-2021 12:32 PM

Kalau ikut jawapan PNSB nmpaknya peluru kembali kpd JPS, sbb hasil kajian mereka menjadi asas kepada keputusan kerajaan negeri,hmmmmmmm

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