tag:blogger.com,1999:blog-81891924100880680072024-02-21T23:41:46.249+08:00Eric Yong's Blog - CorporateErichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.comBlogger573125tag:blogger.com,1999:blog-8189192410088068007.post-77661549940435232222022-10-13T13:27:00.001+08:002022-11-02T13:28:26.883+08:00The Interpoint BBT2. <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsYjMuKZT0tZf_OHmz2DKN2pTt34FVT3P1AcEq-3fTEiIc9albhJ9u0v-_3FlHyMSedQX9ZQjpb4d1cJxuXmPWWDow1-dLe3oVofrrUNgJ95cLMP_ys9XQpT6odkrQDewkHum-z_0v3CRrApUORsaHAcmiLnLUXxalGooUdPi_jXN-Y4jhy-0nTE5TwQ/s1044/1663659178738.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="783" data-original-width="1044" height="480" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsYjMuKZT0tZf_OHmz2DKN2pTt34FVT3P1AcEq-3fTEiIc9albhJ9u0v-_3FlHyMSedQX9ZQjpb4d1cJxuXmPWWDow1-dLe3oVofrrUNgJ95cLMP_ys9XQpT6odkrQDewkHum-z_0v3CRrApUORsaHAcmiLnLUXxalGooUdPi_jXN-Y4jhy-0nTE5TwQ/w640-h480/1663659178738.jpeg" width="640" /></a></div><br /><div style="text-align: center;"> <span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; text-align: left;">Looking for investment grade properties?</span></div><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><div style="text-align: center;"><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;">Something for your kids to live near you?</span></div><div style="text-align: center;"><span style="color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span></div><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><div style="text-align: center;">Good rental opportunities?</div></span><div style="text-align: center;"><span style="color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span></div><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><div style="text-align: center;">Superb location in a booming spot?</div></span><div style="text-align: center;"><span style="color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span></div><div style="text-align: center;"><span style="color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span></div><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><div style="text-align: center;">Drop me a message for more info, and even pre-registration too! It’s not launched yet… but… Who knows… I might be giving out the special “Eric Yong’s Buddies Discount”…</div></span><p></p>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-45048207426035816322022-09-28T13:11:00.001+08:002022-11-02T13:13:08.179+08:00The 99 Residences by the JL99 Group.<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgN0UvoG0Y4jdVhOs0IrBG1dLTwd07ZQrU8qNKWFWbpq1aZHOdgO5HzWrokzeHfSR01Y4sKxdu7jdWRClzftV5aqra_ZaRDV4vSG6Hs4nnUp15XSgKudGGdqpFxuJMZAPukFognHMMJghVpim1dldz5y9x71aBcWAUXAmr3NTbW41hfXi4l_g2RsQWsyw/s1080/jl1.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: helvetica;"><img border="0" data-original-height="607" data-original-width="1080" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgN0UvoG0Y4jdVhOs0IrBG1dLTwd07ZQrU8qNKWFWbpq1aZHOdgO5HzWrokzeHfSR01Y4sKxdu7jdWRClzftV5aqra_ZaRDV4vSG6Hs4nnUp15XSgKudGGdqpFxuJMZAPukFognHMMJghVpim1dldz5y9x71aBcWAUXAmr3NTbW41hfXi4l_g2RsQWsyw/w640-h360/jl1.jpeg" width="640" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: helvetica;"><br /></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: helvetica;">One year ago.</span></div><span style="font-family: helvetica;"><br /></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxWB3LCF6BLsA3bRa_GFvXcfKnhKXxWybq1daORuqcbo6A2O9wNVbvhP2Tl1lWkKAKbkYoW2pXP_wCpYtr7fgYS0xnC_Mc0Zek0KVdHqtFYUFL4zYi0Yj99yvhPOr6kwJbFj6FAueORuFkqWGEAQ_ZTl1b6B2-2SSvr717lXbjAeuGuVEzc4wkB5v3eg/s1000/jl2.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: helvetica;"><img border="0" data-original-height="563" data-original-width="1000" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxWB3LCF6BLsA3bRa_GFvXcfKnhKXxWybq1daORuqcbo6A2O9wNVbvhP2Tl1lWkKAKbkYoW2pXP_wCpYtr7fgYS0xnC_Mc0Zek0KVdHqtFYUFL4zYi0Yj99yvhPOr6kwJbFj6FAueORuFkqWGEAQ_ZTl1b6B2-2SSvr717lXbjAeuGuVEzc4wkB5v3eg/w640-h360/jl2.jpeg" width="640" /></span></a></div><span style="font-family: helvetica;"><br /></span><div style="text-align: center;"><span style="font-family: helvetica;"> Today. </span></div><div style="text-align: center;"><span style="font-family: helvetica;"><br /></span></div><div style="text-align: center;"><span style="font-family: helvetica;"><br /></span></div><div style="text-align: center;"><span style="font-family: helvetica;"><br /></span></div><div style="text-align: center;"><span style="font-family: helvetica;"><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-size: 14px; text-align: start;">The 99 Residences by the JL99 Group.</span><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-size: 14px; line-height: inherit !important; text-align: start;" /><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-size: 14px; line-height: inherit !important; text-align: start;" /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-size: 14px; text-align: start;">One year ago, versus today.</span><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-size: 14px; line-height: inherit !important; text-align: start;" /><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-size: 14px; line-height: inherit !important; text-align: start;" /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-size: 14px; text-align: start;">Averaging almost 1 floor a week.</span><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-size: 14px; line-height: inherit !important; text-align: start;" /><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-size: 14px; line-height: inherit !important; text-align: start;" /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-size: 14px; text-align: start;">Minus Sundays, CNY, Raya, public holidays etc etc, practically 5 days per floor. Progressing well and on time to complete and handover next year.</span></span></div><p></p>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-49204207305820491212022-08-11T13:28:00.001+08:002022-11-02T13:29:59.361+08:00Crest Builder and I. <p><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;">The Company is as old as I am, and we will both go into our 40th year next year. Over the years, the Crest Builder Group has grown and evolved tremendously. When my late father started the company, we used to build government schools, army camps and some basic infrastructure projects such as bridges and roads.</span></p><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;">Soon after, we started to head towards the 'building' category direction - this was the time when everyone else was jumping onto major and mega infrastructure projects, especially the North South Expressway. Those who went into these mega projects mostly grew exponentially.</span><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;">At Crest Builder, my late father had always believed in steady growth - and it was only until 2003 when we were listed on the Bursa Malaysia. Thereafter, we 'rebranded' ourselves into a building specialist, specifically high rise category. Our fleet of machineries comprising both landed and high rise sectors were mostly converted into mobile cranes, passenger hoists, and tower cranes. Today, we owned more than 30 tower cranes, with over 25 swinging all over Klang Valley's skies today.</span><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;">We have also ventured into boutique property development, where we have completed various developments exceeding over RM2bil worth. Our next main launch will be the RM500mil GDV mixed development - Interpoint at Bandar Bukit Tinggi II, Klang. We will be launching and kicking off the ground works within the next 3 months. Construction works remains as our main bread-and-butter contribution to the revenue. We are pushing and targetting for double-digit percentage growths for the coming years.</span><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><br style="background-color: white; box-sizing: inherit; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px; line-height: inherit !important;" /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;">The Group continues to evolve and expand, and we will be expanding our team as well. We continue to welcome new talent to the Group.</span><div><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span></div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcY_OAps3-3LYhGg-g94nf9-nK4hvHhunwtnolKqbDt91RlD5zEcT5aDiK-x5hW4FORFMx8bmjZ8579zLk2GtmWHpL84OybpLcfUx53Z-Kbp84W5AQ2_Wf2EWLr1Ds4N6XQmTweJDsOIOFHE3XU-aG8bVsr92GdcOkLzBX4RYvcp3JvVE0vY1wQxIS9A/s1080/1658460458313.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="607" data-original-width="1080" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcY_OAps3-3LYhGg-g94nf9-nK4hvHhunwtnolKqbDt91RlD5zEcT5aDiK-x5hW4FORFMx8bmjZ8579zLk2GtmWHpL84OybpLcfUx53Z-Kbp84W5AQ2_Wf2EWLr1Ds4N6XQmTweJDsOIOFHE3XU-aG8bVsr92GdcOkLzBX4RYvcp3JvVE0vY1wQxIS9A/w640-h360/1658460458313.jpeg" width="640" /></a></div><br /><span style="background-color: white; color: rgba(0, 0, 0, 0.9); font-family: -apple-system, system-ui, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", "Fira Sans", Ubuntu, Oxygen, "Oxygen Sans", Cantarell, "Droid Sans", "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Lucida Grande", Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span></div>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-69492641082023279692021-11-30T13:08:00.001+08:002022-11-02T13:10:00.214+08:00Crest Builder bags RM107.5m construction contract from Sime Darby Property<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEichNEzT78Lmduji5F2TR4MFNBJDN34ZBa1piJ-8hWHPB3LZB79j0xZ2Gms7duTy2FwT51DJf6bG3NqhOKSIm51FUSEgST4iItpfIFhEtI3YSwqXqhJF6_zVGfXH8qI00jFiOC9-TGMkAT8AR-Wlz5Yn__m7PEjo18oG6Fzz7pQt6Meayi_PudOKzwVPA/s1200/Crest-Builder-Holdings_20211129174803_www.crestbuilder.com_.my_.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="800" data-original-width="1200" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEichNEzT78Lmduji5F2TR4MFNBJDN34ZBa1piJ-8hWHPB3LZB79j0xZ2Gms7duTy2FwT51DJf6bG3NqhOKSIm51FUSEgST4iItpfIFhEtI3YSwqXqhJF6_zVGfXH8qI00jFiOC9-TGMkAT8AR-Wlz5Yn__m7PEjo18oG6Fzz7pQt6Meayi_PudOKzwVPA/w400-h266/Crest-Builder-Holdings_20211129174803_www.crestbuilder.com_.my_.jpg" width="400" /></a></div><p></p><p style="background-color: white; box-sizing: border-box; color: #333745; font-family: domine, serif; font-size: 18px; margin: 0px 0px 20px;">KUALA LUMPUR (Nov 29): Crest Builder Holdings Bhd said on Monday that it has bagged a construction contract for a service apartment with carpark worth RM107.5 million from Sime Darby Property (Ara Damansara) Sdn Bhd.</p><div class="separator" style="clear: both; text-align: justify;"><p style="background-color: white; box-sizing: border-box; color: #333745; font-family: domine, serif; font-size: 18px; margin: 0px 0px 20px; text-align: start;">Crest Builder said in a bourse filing that its wholly-owned subsidiary Crest Builder Sdn Bhd has been awarded for the construction of one block service apartment with car park podium at Ara Damansara, Mukim Damansara, Daerah Petaling, Selangor Darul Ehsan.</p><p style="background-color: white; box-sizing: border-box; color: #333745; font-family: domine, serif; font-size: 18px; margin: 0px 0px 20px; text-align: start;">The contract period is thirty-three months from Oct 22, 2021 to July 21, 2024.</p><p style="background-color: white; box-sizing: border-box; color: #333745; font-family: domine, serif; font-size: 18px; margin: 0px 0px 20px; text-align: start;">Crest Builder said the contract is expected to contribute positively to the earnings of the group for the financial years ending Dec 31, 2021 and onwards.</p><p style="background-color: white; box-sizing: border-box; color: #333745; font-family: domine, serif; font-size: 18px; margin: 0px 0px 20px; text-align: start;">Crest Builder closed one sen or 1.83% lower at 53.5 sen on Monday (Nov 29), valuing the group at RM96.42 million.</p><p style="background-color: white; box-sizing: border-box; color: #333745; font-family: domine, serif; font-size: 18px; margin: 0px 0px 20px; text-align: start;"><i><a href="https://www.theedgemarkets.com/article/crest-builder-bags-rm1075m-construction-contract-sime-darby-property">Source</a></i></p></div><p> </p>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-73147751341186808622021-10-08T14:52:00.004+08:002021-10-08T14:53:22.621+08:00Crest Builder bags RM192m construction job from UEM Sunrise unit<p style="text-align: justify;"><span style="font-family: arial;"> </span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6AbiOSB8qN_PYpaTCG0jsyZGe6VGEi3lZ41tDRs8-w7pBqeZX-boloaLgk7BG3ulxuyAP5DFjqYKkqXkuZoB8C-jRO6uI92shTdB0mE6NBjbt3aHTb_nc-UsBLISoY1mo-13nRflgg9md/s1200/Crest-Builder-Holdings_20211007184335_crestbuilder.webp" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="800" data-original-width="1200" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6AbiOSB8qN_PYpaTCG0jsyZGe6VGEi3lZ41tDRs8-w7pBqeZX-boloaLgk7BG3ulxuyAP5DFjqYKkqXkuZoB8C-jRO6uI92shTdB0mE6NBjbt3aHTb_nc-UsBLISoY1mo-13nRflgg9md/w400-h266/Crest-Builder-Holdings_20211007184335_crestbuilder.webp" width="400" /></span></a></div><div class="separator" style="clear: both; text-align: justify;"><span style="font-family: arial;"><br /></span></div><p></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">Crest Builder Holdings Bhd has bagged a construction job worth RM192.07 million for a proposed two-block condominium project in Mukim Batu here, from UEM Sunrise Bhd's wholly owned subsidiary, Allevia Sdn Bhd.</span></p><div class="separator" style="clear: both; text-align: justify;"><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">The project involves the construction of one 45-storey condominium block and another 40-storey condominium block, including two levels of underground car park and eight levels of podium, with seven levels of car park and one level of recreation facility.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">In a statement, Crest Builder said the job — its first construction contract secured this year — is for 35 months starting from Dec 1, 2021, to be completed by Oct 31, 2024.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">Its outstanding order book now totalled RM900 million, it said, which would provide it with earnings visibility for the next three years.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">Crest Builder shares closed 4.5 sen or 7.69% higher at 63 sen on Thursday, bringing the group a market capitalisation of RM111 million.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><i><a href="https://www.theedgemarkets.com/article/crest-builder-bags-rm192m-construction-job-uem-sunrise-unit?fbclid=IwAR0M0IW60EAPn1D6oF8IzqyUCdwVFYNlGPfBTENakJDOhH0HThqKTYYlnkw"><span style="font-family: arial;">Source</span></a></i></p></div><p style="text-align: justify;"><br /></p>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-28086723105158634632021-07-01T11:25:00.002+08:002021-10-05T11:31:29.793+08:00Cover Story: Creating value for buyers in every project<p style="text-align: justify;"><span style="font-family: helvetica;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: helvetica;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMgs2eVvAAHXeavFsQ9u89ySEZHPKolttpz0Zs9htcEefD1Lm_rNDjZMA3Xj60t5mBIkBK4n555aCXs3Na7M2r_eDfZzudfl7gE6i_xxqRdVsuRs_Bi3s93N_FlMBTxqNKqy_0pmZQWT2a/s1200/CC4_CBHB_Yong_TEM1372_20210601173320_theedgemarkets.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="800" data-original-width="1200" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMgs2eVvAAHXeavFsQ9u89ySEZHPKolttpz0Zs9htcEefD1Lm_rNDjZMA3Xj60t5mBIkBK4n555aCXs3Na7M2r_eDfZzudfl7gE6i_xxqRdVsuRs_Bi3s93N_FlMBTxqNKqy_0pmZQWT2a/w640-h426/CC4_CBHB_Yong_TEM1372_20210601173320_theedgemarkets.jpg" width="640" /></a></span></div><span style="font-family: helvetica;"><br /><span style="background-color: white; color: #333745;"><br /></span></span><p></p><p style="text-align: justify;"><span style="font-family: helvetica;"><span style="background-color: white; color: #333745;">It is a breezy afternoon when we arrive at the headquarters of Crest Builder Holdings Bhd (CBHB) in Petaling Jaya, Selangor. Group managing director Eric Yong Shang Ming welcomes us cordially and is excited to talk about the company’s upcoming plans.</span></span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The company has always been prudent, developing one project at a time. “We are different from some other developers as we do not develop townships and our land acquisitions are mainly opportunistic ones. For instance, our maiden development, 3 Two Square, was acquired in a fire sale from Tops Supermarket when the government imposed a ban on new hypermarkets,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">More recently, the purchase of land in Bandar Bukit Tinggi, Klang, from WCT Land Sdn Bhd was also an opportunistic one. “We are constantly looking for new opportunities for land, whether due to a fire sale, a bargain from market prices or via a joint venture with landowners. We do not rule out opportunities arising from the monetisation of government assets in the near future,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">CBHB is looking to launch Interpoint in Bandar Bukit Tinggi and Latitud 8 in Jalan Ampang, Kuala Lumpur, in December and the first quarter of 2022 (1Q2022) respectively.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Among its completed property developments are The Greens @ Subang West, Alam Sanjung @ Subang West, Tierra Crest in Kelana Jaya and Avenue Crest in Shah Alam.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The group was listed on the Main Market of Bursa Malaysia in 2003 and its core businesses are construction and property development. The construction sector contributes about 80% of the group’s revenue while the remainder comes from property development. </span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“Construction-wise, the company remains optimistic, as various developers have started pushing out their project launches and we have a number of projects in the pipeline. We target the medium- and high-end projects with good sales rates and have been participating in many tenders so far. We are confident of securing some projects and hitting our internal replenishment target this year,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The company’s completed and ongoing construction projects include Celcom Tower and 3 Two Square in Petaling Jaya, Anggun JSI in Jalan Sultan Ismail, Menara Binjai in Jalan Binjai, KPJ Ampang Puteri Specialist Hospital in Ampang and the UiTM Tapah campus in Perak.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Yong joined CBHB in 2003 after graduating from City, University of London in the UK with a degree in civil engineering. “Since young, I have been a very outdoor person. My late father had been in the construction sector since 1977, and it became almost a weekly weekend pastime for me to go to construction sites with him when I was young, learning about the types of machinery and how houses are built. During my secondary school years, my weekends became more than just visiting the sites. My dad would share his knowledge and educate me. We would walk around the entire project site, whereby I was exposed to the various problems as well as solutions for the problems,” he says.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">From Form 3, Yong would spend his school holidays doing some form of internship at the office as well as on site. He had a hunch then that he would be joining the business. “My late father taught me about the business as well as the management and problem-solving skills required. I observed that he had many daily issues as a contractor. After joining the company, I worked with him on those issues and this further enhanced my experience in the construction industry,” Yong recalls.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">According to him, CBHB currently has an outstanding order book of more than RM1 billion, an annual tender book of between RM2 billion and RM3 billion and an annual order book replenishment rate of RM500 million to RM600 million.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW1V52-LCfQ9tp3Q2inzDPRry8rgkJF6RaChZWT1ZDNen4oJ5C51yD2BM1OlCFEX-H85QFfUsbe7YMjy8bkwdcGiBZ7Mrt0u76zftywvC9o3fkgYv5n-ZsmhvYgCxd2Z9KnZmfvx_tAYZS/s1017/CC4_CBHB_impression_TEM1372_theedgemarkets.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="800" data-original-width="1017" height="315" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW1V52-LCfQ9tp3Q2inzDPRry8rgkJF6RaChZWT1ZDNen4oJ5C51yD2BM1OlCFEX-H85QFfUsbe7YMjy8bkwdcGiBZ7Mrt0u76zftywvC9o3fkgYv5n-ZsmhvYgCxd2Z9KnZmfvx_tAYZS/w400-h315/CC4_CBHB_impression_TEM1372_theedgemarkets.jpg" width="400" /></a></div><span style="color: #333333; font-family: helvetica;"><b>Interpoint</b></span><p></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Interpoint will be previewed in September, followed by the official launch in December. According to the developer, “inter” symbolises interconnection, with everything conveniently within reach at the development, which will be a converging point between Klang town centre and Bandar Bukit Tinggi. “Point” refers to a prime destination where live, work, learn and play are carried out.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“When we coined the word ‘Interpoint’, we wanted not only [a name] that could be pronounced easily but to also provide occupants and the surrounding community with an avenue to realise their ideal lifestyle. This is where lush greenery meets modern architecture design to allow residents to relax and rejuvenate in the calmness of nature,” explains Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Interpoint is strategically located, he points out. “The project sits between the upcoming Tesco Extra Bukit Tinggi and AEON Bukit Tinggi LRT stations, both of which are only a 10-minute walk away. Both stations are part of the LRT Johan Setia Line and are due to be fully operational in 2023.”</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The development is easily accessible via Jalan Langat, the South Klang Valley Expressway, Shah Alam Expressway, Federal Highway and West Coast Expressway, which is under construction and expected to be fully operational by 2022. It is also near AEON Bukit Tinggi, Tesco Extra Bukit Tinggi, GM Klang Wholesale City, Hospital Tengku Ampuan Rahimah, Pantai Hospital Klang, SJK (C) Hin Hua, Hin Hua High School and Collinz International School.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Yong says initially, he was not certain about building a high-rise as Klangites often prefer landed property. “We appointed agents and did a survey on sales of high-rise projects in the area built by other developers such as Trio by S P Setia Bhd and Gravit8 by Mitraland Group. We noticed that demand for these projects was quite good and that the larger units tended to be sold out faster than the smaller ones as most of the bigger units were bought by parents for their children while the smaller units were usually bought by investors,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“Since these developers have established a foothold in Bandar Bukit Tinggi, I believe it is worth considering developing a project in the area,” he says, adding that CBHB is building based on demand and buyers’ preferences.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Interpoint, which will be built on a 6.54-acre freehold parcel, will have a gross development value (GDV) of RM620 million and will comprise three towers with two wings — Tower A (26 and 36 storeys), Tower B (27 and 35 storeys) and Tower C (27 and 34 storeys) — offering a total of 998 serviced apartments. It will also have 36 retail units and 30 office suites. The development is due to be completed in May 2025.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The serviced apartments will have built-ups of 593 to 1,270 sq ft and come in 1+1, 2-, 3- or 4-bedroom layouts, of which half will be larger units that can be dual-key. Selling prices will start from RM376,555.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“These units have a contemporary design and practical layouts that are suitable for young families with or without children, multigenerational families, parents buying for their children, singles, young couples and investors. Eighty per cent of the units are targeted at owner-occupiers while the rest will be marketed to investors,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“We are able to provide what buyers want with direct input from our marketing agents. Hence, we are confident that there will be demand for this project and hope to achieve sales of 30% within six months of the official launch and 100% before completion of the project.” </span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">There will be a total of 2,692 parking bays and each unit will be allocated at least two parking lots. “The car park will have an express ramp for residents to drive up to their parking lots on their respective floors to reduce traffic flow,” Yong notes.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">As for the retail units located on the ground floor, they will have built-ups of 1,200 to 1,600 sq ft and be priced from RM840,000. The developer will manage the retail units for a period of time and eventually sell them. “One of the shops is a two-storey unit, which will be used as our sales gallery first and ultimately be converted into a drive-through fast food restaurant. We are still in discussions with a few well-known fast food operators,” he says.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The office suites on the first floor, which will be sold to small and medium enterprises (SMEs) and law and consultancy firms, have built-ups of 700 to 1,000 sq ft and will be priced from RM399,000.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The towers are designed to cluster around a 2.7-acre facility deck on the topmost level of the podium. The deck will include an infinity leisure pool, a 30m lap pool, wading pool, an aqua gymnasium, an urban farm (spice/herb garden), a hammock area, yoga room, sauna, reading room, barbecue area and jogging/walking trail.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“Nowadays, people do not go out much because of the pandemic, hence it is important to provide sufficient facilities for residents. The project caters for people from all walks of life, from the young to the elderly. The maintenance fee is estimated at 35 sen psf per month,” says Yong.</span></p><h3 style="background-color: white; box-sizing: border-box; color: #333333; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 1.46; margin-bottom: 8px; margin-top: 36px; text-align: justify;"><span style="font-family: helvetica; font-size: small;">Latitud 8</span></h3><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Slated to be previewed in September and officially launched in 1Q2022, Latitud 8 is a joint venture between the group and Prasarana Integrated Development Sdn Bhd, whereby Prasarana is the landowner and CBHB is the developer.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The transit-oriented development (TOD) occupies a 2.39-acre leasehold parcel in Jalan Ampang, Kuala Lumpur. It sits above the underground Dang Wangi LRT station and is only a 300m walk to the Bukit Nanas monorail station.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Yong says the original plan was to launch the project, which would have a mix of stratified offices and SoHo (small office/home office) units, in 2018. The developer had carried out a survey overseas in 2017 and response to the project was overwhelming. “However, there was some negative feedback in Malaysia on the stratified office plinth as a result of the oversupply of office space in KL. Hence, we decided to reconfigure the project into mainly SoHos after discussing with our partner, Prasarana,” he says.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">With a GDV of RM900 million, Latitud 8 will comprise a 46-storey tower with a total of 857 SoHos, 22 retail units and a 16,680 sq ft office space. The development is due to be completed in 3Q2026. Yong notes that the project emphasises clustering density around the public transport nodes, which is crucial in urban planning. The concept promotes the integration of residential and communal hubs and leverages the convenient location and connectivity to transport hubs.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The SoHos will come in studio, 1-, 2- or 3-bedroom layouts with built-ups of 570 to 1,250 sq ft, and indicative prices starting at RM615,600. “There will also be 357 dual-key units that cater for buyers who are looking for own stay as well as to rent out part of the unit. We intend to target working professionals who work in the city centre, talent expatriates, as well as local and foreign investors,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The retail units will have built-ups of 160 to 1,450 sq ft and be priced from RM224,000, while the office space is priced at RM950 psf. “For the retail units, we are looking to bring in food and beverage outlets, convenience stores, pharmacies, optical outlets and bakeries, while the office space is likely to be targeted at co-working operators,” he informs.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The project, which is designed around the “transit, play, dine and live in one vertical city” tagline, aims to provide convenience and a comfortable living space for residents, as well as to connect people and form a sustainable community. “The building is meant to rise into the infinite sky, to tower over the surrounding buildings in the city centre and bring a touch of exclusivity to Jalan Ampang,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">He believes the prospects for the development are good owing to its proximity to malls such as Suria KLCC, Pavilion Kuala Lumpur, Lot 10 Shopping Centre and Sungei Wang Plaza, and schools such as SJK(C) Nan Kai and Tsun Jin High School. It is also easily accessible via Jalan Ampang, Jalan Sultan Ismail, Jalan Dang Wangi, the Middle Ring Road 2 and Ampang-Kuala Lumpur Elevated Highway.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“Latitud 8 is a TOD located in the city centre. As the trend of TODs is not very old in Malaysia, we foresee the capital gain for this project to be 6% to 8%, even though TODs in developed countries like Singapore and Hong Kong may achieve a much higher capital appreciation of 10% to 18%,” says Yong.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">The development will have two landscaped gardens — one at a connecting platform at levels 10B and 11 with views of the Klang river and another on the rooftop that overlooks the Petronas Twin Towers, KL Tower and KL Forest Eco Park, formerly known as Bukit Nanas Forest Reserve. Facilities such as a swimming pool, pool spa, jacuzzi, gymnasium, rooftop garden, indoor and outdoor terraces, tree house area, viewing deck, gourmet kitchen, reading room, games room, entertainment room and multipurpose room will be spread out on these levels. The indicative monthly maintenance fee is 45 sen psf.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">Despite the current market conditions, the developer is cautiously optimistic that demand will remain resilient for properties of good quality at strategic locations with good accessibility. The current working-from-home trend is expected to continue and see higher demand for SoHos.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">“We believe Malaysia is in the process of recovering from the pandemic and revitalising the economy on the back of the government’s proactive approach in introducing stimulus packages, especially the National Economic Recovery (Penjana) plan. The low interest rate environment will also stimulate buying interest,” says Yong.</span></p><h3 style="background-color: white; box-sizing: border-box; color: #333333; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 1.46; margin-bottom: 8px; margin-top: 36px; text-align: justify;"><span style="font-family: helvetica; font-size: small;">Future plans</span></h3><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: helvetica;">CBHB has an upcoming redevelopment project in Kelana Jaya — a proposed joint venture, mixed-use development of the Kelana Jaya LRT station on 4.95 acres of land. The project, with an estimated GDV of RM1 billion, will comprise retail units, serviced suites and offices. “The project is currently at the land conversion stage and will take a while as the exhibitions and meetings to gazette the conversion from transport to TOD status have been delayed. Other details of the project have yet to be finalised,” says Yong. The company is also in talks with a few landowners in the Klang Valley as well as Penang and Kuantan to jointly develop projects.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><i><a href="https://www.theedgemarkets.com/article/cover-story-creating-value-buyers-every-project"><span style="font-family: helvetica;">Source</span></a></i></p>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-55271169377105766352021-06-10T11:20:00.005+08:002021-10-05T11:25:06.286+08:00Creating products that deliver value<p><span style="background-color: white; color: #333745; font-family: domine, serif; font-size: 18px;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrUhDfylCgL6wFL47-K8Htl0OFc55UnpGQznLNagxRuxNztTs-EutZCILLMDIcNpCNclkxJIh-cQ1AD5iwBN0gQ2wyYYhr3OjGS5WR-VsVIsPp6c_qxNdNYKnnNARJv589PtPa1A4q-sDy/s1200/TEM_CC_Highlights_1372.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="800" data-original-width="1200" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgrUhDfylCgL6wFL47-K8Htl0OFc55UnpGQznLNagxRuxNztTs-EutZCILLMDIcNpCNclkxJIh-cQ1AD5iwBN0gQ2wyYYhr3OjGS5WR-VsVIsPp6c_qxNdNYKnnNARJv589PtPa1A4q-sDy/w640-h426/TEM_CC_Highlights_1372.jpg" width="640" /></a></div><br /><div style="text-align: justify;"><br /></div><div style="text-align: justify;"><span style="font-family: arial;">Crest Builder Holdings Bhd (CBHB) is set to officially launch Interpoint in Bandar Bukit Tinggi, Klang and Latitud 8 in Jalan Ampang, Kuala Lumpur in December and the first quarter of 2022 (1Q22) respectively.</span></div><p></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">With a gross development value (GDV) of RM620 million, Interpoint will comprise three towers with two wings — Tower A (26 and 36 storeys), Tower B (27 and 35 storeys) and Tower C (27 and 34 storeys). It will offer a total of 998 serviced apartments with built-ups of 593 to 1,270 sq ft with prices starting from RM376,555. There will also be 30 office suites and 36 retail units priced from RM399,000 and RM840,000 respectively. </span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">Meanwhile, the RM900 million Latitud 8, which is a joint venture between CBHB and Prasarana Integrated Development Sdn Bhd, will consist of a 46-storey tower with a total of 857 SoHo (small office/home office) units, 22 retail units and a 16,680 sq ft office space. </span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">The SoHos will have built-ups of 570 to 1,250 sq ft and be indicatively priced from RM615,600, followed by the retail units from RM224,000 and the office space at RM950 psf.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">CBHB group managing director Eric Yong Shang Ming said: “We are different from some other developers as we do not develop townships and our land acquisitions are mainly opportunistic ones. For instance, our maiden development, 3 Two Square, was acquired in a fire sale from Tops Supermarket when the government imposed a ban on new hypermarkets.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><span style="font-family: arial;">"We are constantly looking for new opportunities for land — whether due to a fire sale, a bargain from market prices or via a joint venture with landowners. We do not rule out opportunities arising from the monetisation of government assets in the near future,” he added.</span></p><p style="background-color: white; box-sizing: border-box; color: #333745; margin: 0px 0px 20px; text-align: justify;"><i><a href="https://www.theedgemarkets.com/article/creating-products-deliver-value"><span style="font-family: arial;">Source</span></a></i></p>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-84833624768764309732020-05-08T09:49:00.000+08:002020-05-08T09:49:38.971+08:00Crest Builder has property projects worth RM2.5 billion coming up<div class="separator" style="clear: both; text-align: center;">
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Crest Builder Holdings Bhd may go ahead and launch its three new property development projects in Klang Valley, worth about RM2.5 billion collectively, albeit cautiously. This includes the long-delayed mixed commercial project, Latitud8, a joint-venture (JV) development with Prasarana Malaysia Bhd.</div>
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Crest Builder, whose maiden project is 3 Two Square, launched 13 years ago in Petaling Jaya, has said that Latitud8 is scheduled for launch in the second half of 2020.</div>
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According to company sources, the company is looking at the possibility to launch Latitud8 towards the end of the year, subject to the outcome of the Covid-19 situation and also market conditions. Crest Builder officials were not immediately available for comment due to the ongoing Movement Control Order (MCO) to curb the Covid-19 virus spread.</div>
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Latitud8 will be developed on top of the Dang Wangi LRT station, codenamed "The Bank", at Jalan Ampang, Kuala Lumpur. It has a gross development value (GDV) of about RM1.1 billion, marking Crest Builder's first billion-ringgit property development project.</div>
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Crest Builder entered into a joint venture (JV) with Prasarana and Detik Utuh Sdn Bhd to develop Latitud8 in 2016. The project was touted as the city’s first TOD when it was unveiled then.</div>
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During the project's groundbreaking ceremony, Crest Builder group managing director Eric Yong said the 44-storey single tower will feature a lifestyle retail mall, 17 floors of office space (340,000 sq ft), as well as 418 units of small office/flexible office (SoFo), small office/home office (SoHo) and duplexes.</div>
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The estimated selling price for the residential units was set from RM1,359 per square ft (psf) to RM1,650 psf.</div>
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In September 2018, Crest Builder teamed up with T7 Global Bhd's subsidiary T7 Kemuncak Sdn Bhd to jointly construct the tower. However, according to a filing with Bursa on 28 November 2019, T7 Global said there is no material development on the collaboration between T7 Kemuncak and Crest Builder concerning the construction of Latitud8.</div>
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"There have been some changes to the original development plan, factoring in the demand and supply of residential and commercial offerings in Kuala Lumpur.</div>
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"Crest Builder and its JV partners want Latitud8 to be a luxury and unique development as it sits on top of a transport hub, to attract foreign property buyers. They will be setting a new price for the residential units, which have multiple sizes," the source said.</div>
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According to the company's website, Latitud8 will have serviced residence ranging from 582 sq ft to 1,221 sq ft and duplexes starting from 927 sq ft to 2,178 sq ft, complemented with an urban transit mall and Grade A offices.</div>
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<span style="box-sizing: border-box; font-weight: bolder;">Two confirmed projects in 2021<span style="box-sizing: border-box; font-weight: bolder;"></span></span></div>
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Crest Builder's second launch is a mixed development in Kelana Jaya, which has an estimated GDV of about RM1 billion. This is also a JV project with Prasarana to develop 1.98-ha of land around the Kelana Jaya LRT Station.</div>
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The project consists of retail units, serviced residential suites and offices. It may be launched in the middle of 2021.</div>
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The third launch is a residential project in Klang, with an estimated GDV of RM450 million. The launch had been scheduled for the first quarter of its financial year 2021, but will now be subjected to market conditions.</div>
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Crest Builder acquired 2.646ha in Bukit Tinggi, in December 2019 for RM55 million to develop the project.</div>
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"The focus currently is on selling the remaining unsold units within its existing development. The company is also looking to acquire more land to expand its property development division to improve future earnings," said the source.</div>
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Crest Builder's income is mainly derived from four segments — construction, property development, property investment and management, and concession arrangement.</div>
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For the fourth quarter ended December 31, 2019, the property development division’s revenue and pre-tax loss amounted to RM200,000 and RM5.8 million respectively as compared to the corresponding fourth quarter of the preceding year of revenue of RM49.2 million and pre-tax profit of RM12.6 million.</div>
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In a Bursa filing, Crest Builder said the decrease in revenue and the increase in pre-tax were mainly due to the completion of its Batu Tiga Phase 2 (Residensi Hijauan) project in Shah Alam, in the first quarter of 2019.</div>
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Crest Builder expects with the recent acquisition of land in Bukit Tinggi, this will make a positive contribution to the company going forward.</div>
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In terms of investment properties, Crest Builder has The Crest, located in Seksyen 19, Petaling Jaya and Tierra Crest, which is in Kelana Jaya. Both properties are receiving RM8 million and RM9 million yearly rental respectively.</div>
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The investment division recorded revenue of RM2.6 million and a pre-tax loss of RM700,000 as compared to the corresponding fourth quarter of the preceding year of RM4 million and RM2.4 million respectively. The decrease in revenue and pre-tax loss were mainly attributable to the decrease in the occupancy rate of certain investment properties.</div>
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<span style="box-sizing: border-box; font-weight: bolder;">No changes to earnings forecast<span style="box-sizing: border-box; font-weight: bolder;"></span></span></div>
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AmBank Group Research (AmBank Research) is making no changes to its FY20–FY22 earnings forecasts for Crest Builder's property development division at this juncture, taking into account the scheduled launches this year.</div>
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In a note yesterday, the research house said during a recent engagement with Crest Builder, the management updated analysts on its latest development and the impact of the MCO and Covid-19 to the company's business.</div>
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Crest Builder said, for the property development division, Latitud8 and the development in Kelana Jaya are scheduled for launch this year and in 2021, respectively.</div>
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AmBank Research had earlier cut the company’s FY20–FY21 earnings forecast by 6.8 per cent to reflect the impact of the MCO and its spillover effects on the economy, which may result in lower revenue recognition.</div>
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“We believe the company's medium-term outlook is positive, anchored by several construction wins in the past few months while the upcoming launches will be among its major earning contributors beyond FY21,” it said.</div>
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AmBank Research said what Crest Builder will need to do is to increase their work shifts to clear its backlogged work (construction division) due to the MCO.</div>
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According to the firm, the progress of Crest Builder's construction projects is between 10 to 15 per cent ahead of schedule on average before the introduction of MCO.</div>
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<i><a href="https://www.nst.com.my/property/2020/04/584783/crest-builder-has-property-projects-worth-rm25-billion-coming">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-51968791451961502862020-04-08T09:45:00.000+08:002020-05-08T09:46:24.241+08:00Crest Builder looking for partners in IBS.<div class="separator" style="clear: both; text-align: center;">
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CONSTRUCTION outfit Crest Builder Holdings Bhd is looking at expanding its businesses vertically by investing in construction technologies and the industrialised building system (IBS), including partnering proprietors in these segments.</div>
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Its group managing director Eric Yong Shang Ming says growing in the construction supply chain, especially in areas that can reduce construction costs and increase operational efficiency, will prove lucrative in the long run.</div>
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“We are talking to a few potential candidates and prospects to see how we can work closely together on IBS as well as various other forms of technology that can make construction safer and more efficient. I’m trying to move the group up and down the supply chain,” he tells The Edge.</div>
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Several construction companies, for example Gamuda Bhd, IJM Corp Bhd and Sunway Construction Group Bhd, have been investing in IBS and other forms of technology-based construction systems over the last few years to increase their margins and improve workflow. </div>
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However, Crest Builder is unlikely to be investing in a full-fledged IBS plant as it is a small-sized construction company and may not have the capacity to do so, says Yong. However, partnering standalone IBS and other technology proprietors is one way to go about it, he adds. “If I tell anyone that I want to own a plant now, they will be very sceptical because the capital outlay is huge. A minimal set-up will cost you RM60 million to RM80 million. If you are looking for a full-fledged set-up, you will be looking at a cost of RM200 million to RM300 million.</div>
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“Of course, since the investments are heavy, I’m trying to identify potential partners and even investors on how to go in … We may even go in as just the installing partner or the construction partner for the IBS set-up,” he explains.</div>
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Major projects that use IBS in their construction work include Forest City in Johor and Rumah Selangorku. “I see this (partnering an IBS proprietor) as ideal because IBS could be more lucrative than conventional construction in the long run,” says Yong.</div>
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He does not rule out the possibility of Crest Builder’s project in Bandar Bukit Tinggi, Klang, being fully based on IBS. Last December, the group acquired a 6.54-acre parcel in the township from WCT Holdings Bhd for RM55 million. It plans to build 998 apartments measuring from 550 to 1,250 sq ft. Selling prices are from RM480 to RM520 psf, giving the project an estimated gross development value (GDV) of RM450 million.</div>
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The project is situated between Tesco Extra Klang and AEON Mall Bukit Tinggi, with two light rail transit (LRT) stations within walking distance. </div>
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Crest Builder is also in the final stage of getting the required approvals for its project, Latitud8, near the Dang Wangi LRT station. The project, which is a partnership with Prasarana Malaysia Bhd and has a GDV of RM1.1 billion, has been on Crest Builder’s books since 2012. As it was among the first transit-oriented developments (TODs) undertaken by Prasarana, it faced a lot of red tape. For example, it needed Cabinet approval to convert the status of the land from transport to commercial use and the plan was changed a few times. However, for Crest Builder, it was worth the hassle and wait.</div>
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“In the last two years, there has been a change in the plan. We wanted to reduce the size of the suites a little, which meant a slight realignment of the units. As the landowner, Prasarana wanted to convert its office space into office suites. “If you look at the numbers, on average, we were going to pay about RM200 million for 2.7 acres. In 2012, a lot of people said that was too expensive. But if you look at the land today, we are actually paying current prices.</div>
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“The land has minimal holding cost because it is 90% paid for in kind. Of the 10% that I had to pay in cash, I have only paid 5%. Over eight years, I have only paid 5% to keep the whole land for all the planning, which I think is a very good deal,” says Yong.</div>
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Latitud8 will now be targeted at local buyers instead of foreigners, says Yong, which explains the reduction in the size of the units so that they can be sold for less than RM1 million. Besides Latitud8, Crest Builder is doing another TOD with Prasarana at the Kelana Jaya LRT station that will feature retail units, serviced residential suites and offices. Prasarana is entitled to 24.8% of the GDV of RM1 billion.</div>
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Yong says Crest Builder has applied to have the transport land re-gazetted as commercial land. Approval, scheduled for the end of March, could be delayed owing to the Movement Control Order that came into force on March 18. Crest Builder has an outstanding construction order book of RM1.2 billion, replenished by RM571 million worth of contracts signed last year. The new contracts comprise a RM99.6 million job to build a hotel, a RM155 million deal with Glomac Bhd and a RM316 million undertaking to construct a 55-storey serviced apartment block.</div>
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This year, Crest Builder aims to secure RM500 million worth of construction contracts, says Yong, adding that he hopes to maintain a gross profit margin of 7% to 10% for the high-rise projects.</div>
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AmInvestment Bank initiated coverage of Crest Builder with a “buy” call and a target price of RM1.83 on March 12. Last Wednesday, the counter closed at 64.5 sen, giving the company a market value of RM114 million.</div>
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<i><a href="https://www.theedgemarkets.com/article/crest-builder-looking-partners-ibs">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-48587144876431671932019-10-15T09:51:00.000+08:002020-05-08T09:52:11.711+08:00Crest Builder bags RM155m job from Glomac Segar<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_jMbpe2HSrw7fVx4ABbMQoHcuLi5FTZQWOH4etfA9HZ2vzvinhlpyx_uPbeN83QtFAnbltDSLnEBF5WyZTqHqOouwN0G6i7JJIPNcKHwQN9HpFy0gDWczL9ybweTCPsCF_3sxwt_JbIrm/s1600/Crest-Builder-Holdings_20191015132354_www.crestbuilder.com_.my_.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="498" data-original-width="747" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_jMbpe2HSrw7fVx4ABbMQoHcuLi5FTZQWOH4etfA9HZ2vzvinhlpyx_uPbeN83QtFAnbltDSLnEBF5WyZTqHqOouwN0G6i7JJIPNcKHwQN9HpFy0gDWczL9ybweTCPsCF_3sxwt_JbIrm/s640/Crest-Builder-Holdings_20191015132354_www.crestbuilder.com_.my_.jpg" width="640" /></a></div>
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Crest Builder Holdings Bhd's subsidiary Crest Builder Sdn Bhd (CBSB) has bagged a RM155.1 million contract for the construction of a proposed plaza within a Kelana Jaya mixed commercial development at Jalan SS7/13A in Petaling Jaya.</div>
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In a filing to Bursa Malaysia today, Crest Builder Holdings said the contract was awarded to CBSB by Glomac Segar Sdn Bhd. The contract period set out in the letter of acceptance is 24 months, starting from Nov 15, 2019 to Nov 14, 2021.</div>
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"The contract is expected to contribute positively to the earnings of the group for the financial years ending Dec 31, 2019 and onwards," Crest Builder Holdings said.</div>
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At Bursa's 12:30pm afternoon break, Crest Builder Holdings' share price settled 0.5 sen or 0.53% lower at 94.5 sen. The stock saw 7,000 shares traded.</div>
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<i><a href="https://www.theedgemarkets.com/article/crest-builder-bags-rm155m-job-glomac-segar">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-23777933403085634142019-06-12T14:47:00.005+08:002019-06-12T14:47:59.293+08:00Crest Builder to focus on construction segment in FY19.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_oqJ4LR5YJ8Mc6aj8NVVkqicvIKTAqpU57AXjYu8PjT2tDx2tY3mqlMIc63cQLPFbGiIGHUqrogga_t9Ma9ixvXDVJ1gzrYHstA75L7HAzY5JFdR3DJ6xZHgM49IEha4avtXeQNKMSOlK/s1600/Crest-Builder-Holdings_20190612141914_www.crestbuilder.com_.my_.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="498" data-original-width="747" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_oqJ4LR5YJ8Mc6aj8NVVkqicvIKTAqpU57AXjYu8PjT2tDx2tY3mqlMIc63cQLPFbGiIGHUqrogga_t9Ma9ixvXDVJ1gzrYHstA75L7HAzY5JFdR3DJ6xZHgM49IEha4avtXeQNKMSOlK/s400/Crest-Builder-Holdings_20190612141914_www.crestbuilder.com_.my_.jpg" width="400" /></a></div>
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KUALA LUMPUR (June 12): Crest Builder Holdings Bhd is expecting its financial performance in the financial year ending Dec 31, 2019 (FY19) to be "close enough" to its record FY18, which benefitted from a slew of property launches and the disposal of a Mont Kiara land worth RM34 million.</div>
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Speaking to the press after the group's annual general meeting here, managing director Eric Yong said the group's plan is to push for more construction jobs now that its Shah Alam property development 'The Greens' is almost fully taken up.</div>
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"FY19 will not be a record year [in terms of net profit], but will be close enough to FY18's figures. We are seeing how to drive the construction segment to compensate for the slowdown under the property segment," said Yong.</div>
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In FY18, Crest Builder's net profit more than doubled to a record RM70.38 million from RM28.06 million in FY17, with revenue rising 19.49% year-on-year to RM595.51 million from RM498.29 million. More than half of its FY18 bottom line came from property development.</div>
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To date, Crest Builder's un-billed construction order book amounted to around RM1 billion. The group has secured around RM100 million worth of new construction works in the first half of 2019, and is targeting to secure another RM500 million worth of jobs this year. "Our current tender book is up to RM2.2 billion, with success rate of between 15-20%," Yong added. </div>
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At noon market break, Crest Builder's share price rose two sen or 1.89% to RM1.08, giving it a market capitalisation of RM192.87 million.</div>
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<i><a href="https://www.theedgemarkets.com/article/crest-builder-focus-construction-segment-fy19">Source</a></i></div>
<br />Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-21865330456450312792019-06-12T14:00:00.002+08:002019-06-12T14:00:34.830+08:00Crest Builder eyes RM500m worth of construction jobs.<div class="separator" style="clear: both; text-align: center;">
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<b style="box-sizing: border-box;">KUALA LUMPUR:</b> Crest Builder Holdings Bhd is targeting to secure another RM500 million worth of construction jobs in the second half of this year, in line with its aim to have total construction contract wins of RM600 million in 2019.</div>
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Managing director Yong Shang Ming said it has secured RM100 million of projects so far this year, bringing its construction order book to RM1.4 billion currently. He said the group’s tender book stood at RM2.2 billion to RM2.5 billion and it has a success rate of 15-20%. Crest Builder’s principal activity is the construction of high rise buildings. The group secured construction contract wins of RM625.9 million in 2018.</div>
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<i><a href="https://www.thesundaily.my/business/crest-builder-eyes-rm500m-worth-of-construction-jobs-IL962749">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-35315606052233641222019-06-12T13:58:00.001+08:002019-06-12T13:58:27.895+08:00Crest Builder eyes ECRL-related projects.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg59hyvnJ-zEcDnP0UQd6k8G0CL1PmJtxGBZhrqiwSJmxhSYFFUfyahv654OTGLNy9113QnAraTK9hAaQ6hatK6bwHrjDXPqNuHfFU6b6eR7-rp4uiRaBYVYAa1XImD3Cga5gFw3xXSAwmt/s1600/ECRLtartikpelancong_1560314683.webp" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="437" data-original-width="900" height="193" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg59hyvnJ-zEcDnP0UQd6k8G0CL1PmJtxGBZhrqiwSJmxhSYFFUfyahv654OTGLNy9113QnAraTK9hAaQ6hatK6bwHrjDXPqNuHfFU6b6eR7-rp4uiRaBYVYAa1XImD3Cga5gFw3xXSAwmt/s400/ECRLtartikpelancong_1560314683.webp" width="400" /></a></div>
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KUALA LUMPUR: Crest Builder Holdings Bhd is eyeing to bid for non-infrastructure projects for the East Coast Rail Link (ECRL) such as depot stations in Negeri Sembilan and West Pahang. The company participated in a preliminary qualification exercise in May, with the results to be announced by year-end, its managing director Eric Yong Shang Ming said. “Construction is our main forte. As of now, we are focusing on our strength which is construction and property development,” he said after the company’s annual general meeting here today.</div>
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It was reported that more than 1,000 construction companies nationwide are eyeing the 40 per cent civil works portion of the RM44 billion ECRL project following a Pre-Q exercise to identify potential subcontractors. A total of 1,321 submissions from CIDB-registered companies were received by ECRL’s main contractor, China Communications Construction Company Ltd (CCCC), during the Pre-Q exercise on May 29 and 30, 2019.</div>
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Meanwhile, Yong said that the company is positive that the property market would rebound in the second quarter of this year. “For the past two years, the market has been on a downtrend and as of now we can see that the market has picked up. Several of our projects’ target launches have been delayed due to several reasons including realignment and rezoning,” he said.</div>
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The target dates of three of its retail, residential and office projects – Latitude 8 in Dang Wangi, the MRB project at Jalan Ampang and the Kelana Jaya LRT area in Kelana Jaya – have all been delayed for at least three to four years. The gross development value for the three projects is RM3.43 billion.</div>
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He added that currently, the company has secured about RM100 million worth of projects and is aiming to secure another RM500 million in the second half of this year. “Currently, we have an order book of RM1.4 billion. As for the market outlook, we are optimistic that the market would pick up backed by higher demand especially on the construction side,” he said. Yong said currently, development and construction equally contribute 50 per cent to the total company revenue, although in the coming quarters, construction is expected to pick up and contribute 70 per cent to the total revenue.</div>
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– BERNAMA</div>
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<i><a href="https://www.nst.com.my/business/2019/06/495689/crest-builder-eyes-ecrl-related-projects">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-55504145235895216262019-06-12T13:56:00.002+08:002019-06-12T13:56:32.061+08:00Crest Builder sasar bida projek berkaitan ECRL.<div class="separator" style="clear: both; text-align: center;">
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">KUALA LUMPUR: Crest Builder Holdings Bhd menyasarkan untuk membida projek-projek bukan infrastruktur bagi Projek Laluan Rel Pantai Timur (ECRL) seperti stesen depot di Negeri Sembilan dan Pahang Barat. Syarikat itu menyertai proses kelayakan awal pada Mei, dan keputusan akan diumumkan menjelang akhir tahun, kata Pengarah Urusannya, Eric Yong Shang Ming.</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">“Pembinaan adalah kekuatan kami. Kini kami memberi tumpuan kepada kekuatan kami iaitu pembangunan hartanah dan pembinaan,” katanya pada mesyuarat agung tahunan syarikat itu di sini, hari ini. Sementara itu, Shang Ming berkata syarikat itu positif bahawa pasaran hartanah akan melantun semula pada suku kedua tahun ini.</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">“Sejak dua tahun lalu, pasaran mengalami aliran menurun, dan pada masa ini kita dapat melihat pasaran kembali meningkat. Beberapa pelancaran projek sasaran kami ditangguhkan atas beberapa sebab termasuk penjajaran dan pengezonan semula," katanya. Tarikh sasaran tiga projek runcit, kediaman dan pejabat - Latitude 8 di Dang Wangi, projek MRB di Jalan Ampang dan kawasan LRT Kelana Jaya di Kelana Jaya, semuanya ditangguhkan selama sekurang-kurangnya tiga hingga empat tahun. Nilai pembangunan kasar (GDV) bagi ketiga-tiga projek itu berjumlah RM3.43 bilion.</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Beliau berkata, pada masa ini, syarikat itu memperoleh projek bernilai kira-kira RM100 juta dan menyasarkan untuk memperoleh RM500 juta lagi pada separuh kedua tahun ini. “Pada masa ini, kami mempunyai projek dengan nilai pembangunan RM1.4 bilion. Mengenai prospek pasaran, kami yakin pasaran akan meningkat dengan permintaan yang tinggi terutama dalam sektor pembinaan,” katanya.</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Shang Ming berkata, pada masa ini, pembangunan dan pembinaan menyumbang 50 peratus daripada jumlah pendapatan syarikat, dengan pembinaan dijangka meningkat dan menyumbang 70 peratus kepada jumlah hasil pada suku akan datang.</span></div>
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<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">-BERNAMA</span></div>
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<i><a href="https://www.bharian.com.my/bisnes/korporat/2019/06/573331/crest-builder-sasar-bida-projek-berkaitan-ecrl?fbclid=IwAR3kRv3qeNMduRX2cPeL62KRp0o6FRZN5ElMLy_3097gu7mN6QsMiAhyy6I">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-82308820964571465192019-03-21T10:25:00.001+08:002019-03-21T10:25:20.905+08:00The Quarza, KL East. <div class="separator" style="clear: both; text-align: center;">
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<br />Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-10701364967535526602019-02-05T14:01:00.000+08:002019-06-12T14:04:27.674+08:00Crest Builder changes project plan.<div class="separator" style="clear: both; text-align: center;">
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<span style="font-family: "arial" , "helvetica" , sans-serif;">PETALING JAYA: Construction and engineering group Crest Builder Holdings Berhad is converting 17 floors of office space in its transport-oriented development (TOD) to mainly small offices, home offices (SoHos). </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The company will also reduce the size of a handful of larger-sized units of about 2,000 sq ft to overcome issues of affordability.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">It is in the process of resubmitting its plans to the local authorities, a company source said.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Change in space usage has been ongoing over the years. Office blocks have been converted to hotels and serviced apartments. Holiday Inn Express in Jalan Raja Chulan, Kuala Lumpur, was previously Menara ING. Wisma KLIH, where HSBC Bank used to operate from at the Jalan Bukit Bintang-Jalan Sultan Ismail intersection, is now Wolo Hotel.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The factors to change the components of an ongoing construction mid-way must be strong. Incidentally, Latitud 8 was touted as the city’s first TOD when it was unveiled in 2016.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The project, with a gross development value of RM1.1bil, was reported as a joint land development between Crest Builder’s 51%-owned subsidiary, Intan Sekitar Sdn Bhd, and Prasarana Malaysia Bhd. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Intan Sekitar is a joint-venture holding company between Crest Builder’s wholly owned subsidiary Crest Builder International Sdn Bhd and Detik Utuh Sdn Bhd. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">A check with the Companies Commission of Malaysia shows that Sri Rahayu Tajuddin is one of the three directors of Detik Utuh, a commercial trading company.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Sri Rahayu is the daughter of Umno politician Datuk Seri Tajuddin Abdul Rahman, who is the MP of Pasir Salak, Perak. He is also the former Deputy Agriculture Minister. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">Sri Rahayu and her brother Firdaus are also listed as directors of Intan Sekitar. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">In a Sept 26, 2018, Bursa Malaysia filing, Crest Builder said it had entered into a memorandum of understanding with T7 Global Berhad </span><span style="font-family: "arial" , "helvetica" , sans-serif;">to jointly construct Latitud 8.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The source said the decision to change the office component into SoHo units was made after studying the oversupply situation in the office market, coupled with the slow sales for its office space. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">“There is too much office space in Kuala Lumpur and too much empty space. To avoid this project becoming another white elephant, we decided to change the project components,” the source said.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The 44-floor project is located on Lot PT 21, originally Lot 60, in Jalan Ampang. It was initially planned as a single commercial block comprising 17 storeys of office space with 418 SoHo units on top of the office component with a retail podium. Below it is the Dang Wangi LRT station.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The original 418 SoHo units have built-up areas ranging from 650 sq ft to about 1,000 sq ft; a handful of them have built-up areas of about 2,000 sq ft. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">The industry source said in order to address current issues of affordability, the company has decided to reduce the size of these larger units. The project was soft launched early last year. Sales were better for SoHos but slow for its office space. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">In view of the change in plans, the company has returned the cheques to buyers. Sales are at about 20%, a source said.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Each of the 17 floors has a floor area of about 20,000 sq ft. The total office portion totalled about 340,000 sq ft before the change. </span><span style="font-family: "arial" , "helvetica" , sans-serif;">“Latitud 8 will now have 840 units. The change would involve a number of parties and a re-submission of plans which the company is in the process of doing,” the source said. As a result of the change, construction has been halted.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">The company has built up to the third floor. Once approval has been given, the company plans to continue with construction to a certain level before re-launching the project in 2020.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">“This will give confidence and reassurance to buyers,” the source said. “The project has not been abandoned.”</span></div>
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<i style="font-family: Arial, Helvetica, sans-serif;"><a href="https://www.thestar.com.my/business/business-news/2019/02/04/crest-builder-changes-project-plan/#QGmRrFGJdz0JXOtH.99">Source</a></i></div>
<br />Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-4393291124609096442019-01-31T10:28:00.000+08:002019-03-21T10:29:01.965+08:00Crest Builder bags RM99.6m contract to build a hotel at Jln P Ramlee.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo3lv4tDiRGDAVuVeNjCvlgeFoJGY9gXF0FjGPdUZbE00zaR2HMJ9kprg3Wt_nLmdqyfu6mrMS8ll1bCaYWzp5KYnCb5m9CUKXVM5gzDuEoa21zPaon1_1LlijKSG6xMGDEjXQ2J58h7k8/s1600/Crest-Builder-Holdings_20190131174718_www.crestbuilder.com_.my_.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="498" data-original-width="747" height="426" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo3lv4tDiRGDAVuVeNjCvlgeFoJGY9gXF0FjGPdUZbE00zaR2HMJ9kprg3Wt_nLmdqyfu6mrMS8ll1bCaYWzp5KYnCb5m9CUKXVM5gzDuEoa21zPaon1_1LlijKSG6xMGDEjXQ2J58h7k8/s640/Crest-Builder-Holdings_20190131174718_www.crestbuilder.com_.my_.jpg" width="640" /></a></div>
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KUALA LUMPUR (Jan 31): Crest Builder Holdings Bhd's unit has bagged a contract worth RM99.6 million to construct a 26-storey hotel at Jalan P Ramlee in the heart of Kuala Lumpur.
In a filing to Bursa Malaysia this evening, Crest Builder said the contract was awarded to Crest Builder Sdn Bhd by Techvance Properties Management Sdn Bhd. </div>
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The contract period is for 27 months, starting from Feb 18, 2019. The contract is expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2019 and onwards.
It was previously reported that AmFIRST Real Estate Investment Trust had sold a 13-storey office building at Jalan P Ramlee for RM36 million to Techvance back in December 2015. The property at that time was known as the AmBank Group Leadership Centre. </div>
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In a separate statement, Crest Builder said this contract win will boost its outstanding order book to about RM950 million, which will provide earnings visibility for the next three years. </div>
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"We are delighted to have secured our first contract for 2019. Despite the challenging condition of the industry, we will continue to work hard and actively bid for more sustainable margin projects to replenish our order book. With our strong outstanding order book of approximately RM950 million, we expect this project to contribute positively to our top-line and bottom-line growth for the next few years," said Crest Builder group managing director Eric Yong. </div>
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Crest Builder shares closed 0.5 sen or 0.6% higher at 88 sen today, for a market capitalisation of RM148 million.</div>
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<i><a href="https://www.theedgemarkets.com/article/crest-builder-bags-rm996m-contract-build-hotel-jln-p-ramlee">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-9427080609233680352018-11-22T10:30:00.000+08:002019-03-21T10:31:08.669+08:00Crest Builder Q3 net profit jumps to RM33.83m on disposal of land, higher sales<div style="text-align: justify;">
KUALA LUMPUR: Crest Builder Holdings Bhd posted a fourfold jump in net profit to RM33.83mil in the third quarter ended Sept 30, 2018, over the previous corresponding quarter due to higher sales from its property division and disposal of land. </div>
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Revenue for the quarter under review came in at RM177.06mil, 29% higher than in the year-ago quarter.
The group said in a stock exchange filing that the disposal of land held for property development contributed revenue of RM34mil and gain of RM25.1mil.
The higher earnings contribution was also attributed to Batu Tiga Phase 4 (Alam Sanjung) and Batu Tiga Phase 5 (Avenue Crest) and Batu Tiga Phase 2 (Residensi Hijauan), which generated higher sales for the group in the quarter. </div>
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The construction division saw a decline in revenue to RM66.5mil from RM95.9mil in the year-ago quarter while net profit slumped to RM200,000 from RM3.8mil due to the award of liquidiated and ascertained damages (LAD) and defects rectification to an employer for a construction project.
Meanwhile, the concessions arrangement and investment division both recorded higher net profit due to savings in finance costs following the repayment of Sukuk Murabahah and loans respectively.</div>
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<i><a href="https://www.thestar.com.my/business/business-news/2018/11/21/crest-builder-q3-net-profit-jumps-to-rm33pt83m-on-disposal-of-land-higher-sales/#7E6LZrKhd1qBq5H8.99">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-77147207522431377082018-05-31T17:37:00.002+08:002018-05-31T17:37:31.672+08:00Crest Builder secures RM149m hotel construction job.<div style="text-align: justify;">
KUALA LUMPUR: Crest Builder Holdings Bhd has been awarded a contract by Mega Capital Development Sdn Bhd for the construction of a 44-storey hotel and a carpark podium in Jalan Imbi, here, or RM149.5mil.</div>
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The contract, which was received by Crest Builder unit Crest Builder Sdn Bhd, is for 39 months from January 2018 to April 2021.
"The contract is expected to contribute positively to the group's earnings for the financial years ending Dec 31, 2018 and onwards," it said in its filing with Bursa Malaysia. </div>
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<i><a href="https://www.thestar.com.my/business/business-news/2018/01/18/crest-builder-secures-rm149m-hotel-construction-contract/#2zwDJwA8lMzMyuWv.99">Source</a></i>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-85625891041978610492018-03-22T17:40:00.000+08:002018-05-31T17:41:50.505+08:00Crest Builder to bid for more government land projects.<div style="text-align: justify;">
CONSTRUCTION and property player Crest Builder Holdings Bhd will continue to bid for development projects on government land, unperturbed by the more than two-year delay in developing such projects in Jalan Dang Wangi and Jalan Ampang, Kuala Lumpur, and Kelana Jaya in Petaling Jaya. </div>
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Joint ventures with government agencies that hold the land will give Crest Builder entry into prime and strategic plots at a low cost, enabling it to expand its property development business, says managing director Eric Yong Shang Ming.
“Provided the location of the land is good, I will look at it. We are eyeing quite a few such plots,” says Yong in an exclusive interview with The Edge.
Crest Builder is among the few companies that entered into agreements with Prasarana Malaysia Bhd to develop transit-oriented developments (TOD) on the latter’s land along light rail transit lines, the monorail and LRT depot in 2012. </div>
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Other companies that have secured TOD developments with Prasarana include Bina Puri Holdings Bhd and TRC Synergy Bhd. Bina Puri was awarded a contract to develop a 4.61-acre parcel in Brickfields, next to the Tun Sambanthan monorail station, while TRC Synergy will undertake a commercial-residential project near the Ara Damansara LRT station. </div>
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At the time, Prasarana targeted to monetise its land bank on and along the LRT and monorail lines and expand its non-fare revenue to 30% by this year. This is similar to Hong Kong’s MTR Corp and Singapore’s SMRT Ltd’s business model.
The first TOD project that Crest Builder and its partner Detik Utuh Sdn Bhd secured was a mixed-use development on top of the Dang Wangi LRT station. Prasarana has a 21.2% share of the total gross development value (GDV).
The Dang Wangi TOD project, called Latitud8, will comprise a boutique transit mall, open offices, small office/home office residences and a rooftop entertainment lounge. It has a GDV of RM1.2 billion. </div>
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However, it took Crest Builder about two years to convert the land status from a 60-year lease to Prasarana for the purpose of operating a rail public transport system to a 99-year lease.
The agreement with Prasarana was finalised in 2015 and by 2016, Crest Builder had started strengthening the underground structure of the LRT station. </div>
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The base retail structure was completed in 2017.
“We were among the first companies to be awarded a TOD development project with Prasarana. Therefore, a lot of the processes — especially to convert the land status — were not smooth.
“Now that we have learnt from the experience with the Dang Wangi LRT TOD, the processes will be much smoother if we secure more TODs from Prasarana,” says Yong. </div>
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Crest Builder soft-launched Latitud8 internationally in Hong Kong, China and Taiwan, which saw 35% the residential units booked. Due to the current soft property market, the local launch has been pushed till later this year. </div>
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Besides the Dang Wangi LRT TOD, Crest Builder has also secured the redevelopment of the Kelana Jaya LRT station. It has signed the joint land development agreement with Prasarana, which will get a 24.8% share of the GDV.
The project will comprise mini retail lots, a corporate tower and two residential towers with a GDV of RM1 billion. The redesignation and realienation of the land, plus the re-zoning by the Selangor government are ongoing, says Yong. The project was secured by Crest Builder in late 2013.
“Based on the feedback obtained from the local authorities, we expect all the clearances to be resolved and cleared this year and we expect to commence the submission of the development order in 2018 as well,” says Yong. </div>
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Besides the TOD projects with Prasarana, Crest Builder also has a project with the Malaysian Rubber Board (MRB) in Jalan Ampang.
In 2012, Landasan Bayu Sdn Bhd, Crest Builder’s 51:49 joint venture with Tindakan Juara Sdn Bhd, secured a deal for the redevelopment of the MRB land in Jalan Ampang. However, the project has yet to take off due to lengthy negotiations with the landowner, says Yong.
The building plan is still under evaluation by Kuala Lumpur City Hall. </div>
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The project, called Elevat8, will comprise a 28-storey corporate tower — as payment in kind to MRB — and three 45-storey residential towers on top of double-storey shoplots, with two levels of basement parking. It has a GDV of RM1.33 billion. </div>
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To replenish its land bank, Yong says the group is also looking at the government’s land swap model, in which strategically located parcels are transferred as a consideration for construction of its facilities. </div>
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In fact, Crest Builder is currently negotiating a land swap deal in Kepong worth RM400 million, says Yong. The land is located in Kepong Metropolitan Park, part of which is under water.
While negotiations on the construction contract are still ongoing with the Ministry of Home Affairs and the Royal Malaysian Police, Crest Builder already has a vision of the type of development that would be suitable for the site. </div>
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The market in Kepong is ripe for middle-high cost high-rise properties, says Yong.
On the MRB land development, Crest Builder set up a special-purpose vehicle on Oct 16 last year, called K L Waterfront Development Sdn Bhd, in which the group has a 51% stake. The rest is owned by its partner for the MRB land, Tindakan Juara. </div>
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For the financial year ended Dec 31, 2017, Crest Builder reported a jump in net profit to RM29 million, from RM15 million in the preceding financial year, on the back of a 76.8% increase in revenue. The board has announced a dividend per share of 4% for the year.
The group currently has a construction order book of RM1.8 billion, which will last it for about 2½ years. </div>
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Crest Builder is targeting a yearly contract replenishment value of RM500 million, and has put in tenders for RM3 billion worth of projects.
Closing at 92 sen last Thursday, Crest Builder had a market capitalisation of RM157 million.
The Yong family owns a 39.03% stake through SC Holdings Sdn Bhd.</div>
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<i><a href="http://www.theedgemarkets.com/article/crest-builder-bid-more-government-land-projects">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-7168991754670027072018-03-21T17:32:00.000+08:002018-05-31T17:34:36.753+08:00Crest Builder wins RM117.8mil contract.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhS2SgqBjdLzwX-ezwc0Fg-Q7cvab83BO8l8T3PX9pjoHTZydcJ5WRkhKbI5GK5Q7D0ZFY4XW4_GayvMbg-BY74UL0Wio__FGGrvrHhKbV5kwQPZmp0pk57dJj7G3PRXgUI0m4urTXzs2Dp/s1600/corporatenews18aJan18.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="413" data-original-width="620" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhS2SgqBjdLzwX-ezwc0Fg-Q7cvab83BO8l8T3PX9pjoHTZydcJ5WRkhKbI5GK5Q7D0ZFY4XW4_GayvMbg-BY74UL0Wio__FGGrvrHhKbV5kwQPZmp0pk57dJj7G3PRXgUI0m4urTXzs2Dp/s400/corporatenews18aJan18.png" width="400" /></a></div>
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KUALA LUMPUR: Crest Builder Sdn Bhd has secured a RM117.8mil construction contract form Toyoma Aluminium Foil Packaging Sdn Bhd. </div>
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In a filing with Bursa Malaysia, Crest Builder said its wholly owned subsidiary, Crest Builder Sdn Bhd secured the contract from Toyoma for the construction of main buildings works that consist of six storey of office, factory and car parks at Section 19 in Petaling Jaya.
“The contract is expected to contribute positively to the earnings of the group for the financial years ending Dec 31, 2018 and onwards,” Crest Builder said </div>
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<i><a href="https://www.thestar.com.my/business/business-news/2018/03/20/crest-builder-wins-rm117-8mil-contract/#HgQHP6VmLF2T5AUp.99">Source</a></i>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-4390814211180235752018-03-13T17:35:00.000+08:002018-05-31T17:36:15.047+08:00Crest Builder eyes Kepong Metropolitan Park land.<div style="text-align: justify;">
PETALING JAYA (March 10): Construction and property development firm Crest Builder Holdings Bhd is eyeing a land swap deal worth RM400 million for a parcel in the Kepong Metropolitan Park, reported The Edge weekly.
The firm plans to build middle-high cost high-rise properties on the site, which is partially submerged in water, said its managing director Eric Yong Shang Ming.</div>
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Negotiations on the construction contract — which would entail a land swap of strategically located parcels owned by the government as consideration for construction of its facilities, such as the park land — are still ongoing for the Ministry of Home Affairs and the Royal Malaysian Police. </div>
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Meanwhile, Crest Builder will bid for more development projects on government land, despite experiencing a delay of over two years in developing such projects at Jalan Dang Wangi and Jalan Ampang in Kuala Lumpur and Kelana Jaya in Selangor.
The joint ventures with government agencies that own the land will provide Crest Builder access to prime and strategic plots at low cost, allowing it to grow its property development business, he told The Edge weekly. </div>
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“Provided the location of the land is good, I will look at it. We are eyeing quite a few such plots,” he said. </div>
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The Dang Wangi transport-oriented development (TOD) project called Latitud8 is undertaken with its partner Detik Utuh Sdn Bhd, with Prasarana Malaysia Bhd taking a 21.2% share of the GDV.
The project comprises a boutique transit mall, open offices, Small-office Home-office residences and rooftop entertainment lounge worth RM1.2 billion and saw Crest Builder taking two years to convert the land status from a 60-year lease to Prasarana for the purpose of operating a rail public transport system to a 99-year lease. </div>
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The deal was finalised in 2015 and by 2016, the company had started strengthening the underground structure of the LRT station; last year, the base retail structure was completed.
The project had been soft-launched in Hong Kong, China and Taiwan, with 35% of the residential units booked.
Meanwhile, the local launch has been deferred until the end of this year owing to the soft market.
Meanwhile, its Kelana Jaya LRT Station project — which comprises mini retail lots, a corporate tower, and two residential towers — has a GDV of RM1 billion, of which Prasarana will receive 24.8%. </div>
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The redesignation and realienation of the land, and the re-zoning by the Selangor government, are ongoing, said Yong; the project was secured by Crest Builder in late 2013.
Meanwhile, its non-TOD project is the redevelopment of a parcel of land along Jalan Ampang that belongs to the Malaysian Rubber Board into Elevat8, a 28-storey corporate tower — as payment in kind to the board — and three 45-storey residential towers above double-store shoplots, with two levels of basement parking, all with a GDV of RM1.33 billion.</div>
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<i><a href="http://www.theedgemarkets.com/article/crest-builder-eyes-kepong-metropolitan-park-land">Source</a></i>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-40460692817497520062018-01-24T17:39:00.000+08:002018-05-31T17:39:32.180+08:00Crest Builder lands RM328m construction project.<div class="separator" style="clear: both; text-align: center;">
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KUALA LUMPUR: Crest Builder Holdings Bhd has secured a contract by Perdana Parkcity Sdn Bhd for the construction of main building works in Desk ParkCity, Kuala Lumpur, for RM328.8mil.
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StarBiz Premium reported earlier on Tuesday that the construction and property developer was poised to land the contract, its second over the last week.
At market close on Tuesday, the counter was three sen or 3.09% higher at RM1 a share with 2.08 million shares exchanging hands.
According to the filing with Bursa Malaysia, the construction of main building works consists of two blocks of 40-storey residential apartments and a car park podium. </div>
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The contract, which was awarded to the group's wholly-owned subsidiary, Crest Builder Sdn Bhd, is for a period of 33 months from Feb 9, 2018 to Nov 8, 2020, and will bring the company's order book to about RM1.3bil.
"The contract is expected to contribute positively to the earnings of the Group for the financial years ending 31 December 2018 and onwards," the group said in the filing. </div>
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Last week, the company announced that it had won the mandate to construct the main building works of a 44-storey hotel and a car park in Kuala Lumpur for RM149.5mil.
Crest Builder, which has won several large contracts to build high-rise buildings, recorded a net profit of RM20.28mil on turnover of RM342.95mil for the nine months until September 30, 2017. </div>
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Turnover and profit were significantly higher compared to the corresponding period last year where it managed a profit of RM9.9mil on turnover of RM180.14mil.
The company attributed the stronger performance in FY17 to the higher sales generated by its ongoing property projects. </div>
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Crest Builder started as a small construction outfit in 1983 with less than 10 staff by the late Yong Soon Chow. Today it is a large builder and property developer with more than 500 people. </div>
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<i><a href="https://www.thestar.com.my/business/business-news/2018/01/23/crest-builder-lands-rm328m-construction-project/#FchJmVT29bMzFm1q.99">Source</a></i>Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-55970880274492275782017-08-18T12:18:00.004+08:002017-08-18T12:18:52.407+08:00Crest Builder to undertake works for CSCEC worth RM16.28m<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU1k-mt3QPvHp62IxiOrqbU658fnl9Jk9T8AGXuNSTOVkddgw1Urpfdr-woizokShzarn-y7kX2QFPZhzXQecLQhDuFXng6PfNFBCv0xOfVZqEOd3bprs77hHQU8VKFxEK34rtIRv3ZyK_/s1600/Eric+Yong+Crest+Builder.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="413" data-original-width="620" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU1k-mt3QPvHp62IxiOrqbU658fnl9Jk9T8AGXuNSTOVkddgw1Urpfdr-woizokShzarn-y7kX2QFPZhzXQecLQhDuFXng6PfNFBCv0xOfVZqEOd3bprs77hHQU8VKFxEK34rtIRv3ZyK_/s400/Eric+Yong+Crest+Builder.jpg" width="400" /></a></div>
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PETALING JAYA: Crest Builder Holdings Bhd's subsidiary CBTech (M) Sdn Bhd will undertake mechanical, electrical and plumbing works for China State Construction Engineering Corporation (CSCEC) worth RM16.28mil.
The project will take 23 months for completion, ending on June 11, 2019, and will comprise of all air-conditioning and mechanical ventilation (ACMV) services package works for Angkasapuri Media City in Kuala Lumpur. </div>
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With this project, Crest Builder's construction order book stands at about RM1.32bil. </div>
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“This contract award earmarks our greater intentions of further expanding into the MEP services sector of the construction industry. Our MEP Division, CBTech (M) Sdn Bhd will see much more focus as it strives to be another strong profit centre for the group.” said Eric Yong, group managing director of Crest Builder. </div>
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<i><a href="http://www.thestar.com.my/business/business-news/2017/08/17/crest-builder-to-undertake-works-for-cscec/">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0tag:blogger.com,1999:blog-8189192410088068007.post-8929038315776071092017-06-09T14:27:00.000+08:002017-08-16T14:27:18.986+08:00Crest Builder expects better performance for FY17<div style="background-color: white; box-sizing: border-box; color: #333745; font-family: Domine, serif; font-size: 18px; margin-bottom: 20px; text-align: justify;">
KUALA LUMPUR: Crest Builder Holdings Bhd expects its performance for the financial year ending Dec 31, 2017 (FY17) to be better than FY16, with the completion of several projects under its construction division. Its group managing director (MD) Eric Yong Shang Ming said the construction division will drive the group’s growth this year.</div>
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“Based on the timing of the projects, we are looking to complete a couple of projects this year. Our largest contract to date is Quarza Residence at Sime Darby Property Bhd’s KL East development, which will be going full swing this year,” he told reporters after the group’s annual general meeting yesterday. In June last year, Crest Builder clinched a RM438.3 million contract to build residential and commercial buildings at the KL East development in Setapak. “Yes, we are looking to post very good numbers in FY17,” said Yong.</div>
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On the group’s RM500 million order book replenishment target for FY17, Yong said it has yet to secure any job so far this year, but is actively bidding for various projects. “We hope to secure something within the next quarter or so. It will be quite a sizeable one. Nonetheless, we have an outstanding order book of RM1.1 billion, which will last us well into 2018,” Yong said. He also noted that the group is tendering for some RM1.8 billion worth of projects and expects more tenders coming up in the next few months, which will help in meeting the group’s RM3 billion tender book target.</div>
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He added that the bulk of contracts to be tendered out are for projects in the Klang Valley, adding that some of the building contracts the group is eyeing will be related to the light rail transit 3 project. For the property development division, Crest Builder will be launching the residential portion of the RM1.1 billion gross development value (GDV) Latitud8 in Dang Wangi here. The group has already done a couple of international previews for the RM750 million GDV residential portion, which garnered encouraging response.</div>
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“In May, we did our international previews to gauge the market conditions of buyers from Hong Kong and China. “For the local market, we are targeting a soft launch in September, looking more at business associates from our internal database. We are targeting for a public launch towards the end of the year or January [2018]” said Yong.</div>
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He noted that there has been a knee-jerk impact on international sales, following China’s move to introduce capital controls, but said the weak ringgit makes properties here attractive for international investors. He added that the property market may have bottomed-out, as more tenders have been put out by the major developers over the past two to three months, signalling some recovery of confidence in the market.</div>
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“Based on the current outlook, I believe the market will pick up substantially within the next two quarters,” he said. Meanwhile, Yong said the group’s Residensi Hijauan project has seen 40% of units sold so far for Phase 1, and it plans to launch the second phase once 50% to 60% of the Phase 1 units are sold.</div>
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<i><a href="http://www.theedgemarkets.com/article/crest-builder-expects-better-performance-fy17">Source</a></i></div>
Erichttp://www.blogger.com/profile/13143245163790894265noreply@blogger.com0