永大昨日与5公司签备忘录发展70亿产业，吸引众多中英媒体前往报导。在此为大家汇集所有报导，让你一目了然。

永大昨日与5公司签备忘录发展70亿产业，吸引众多中英媒体前往报导。在此为大家汇集所有报导，让你一目了然。

中文媒体：

星洲日报

与5公司签备忘录 ‧ 永大发展70亿产业

链接

（马六甲3日讯）永大（YONGTAI，7066，主板贸服组）今日达致5项了解备忘录，收购马六甲、巴生河流域和新山地段，以展开5项潜在产业发展计划，未来8年发展总值约70亿令吉。

永大在执行董事黄奕雄的代表下，与PTS Impression董事拿督斯里李益辉、Yuten董事谢振威、Terrawest董事黄势玟、Land & Build产业主管郑良国和Admiral City董事经理姚和睦，各别签署了解备忘录，获得甲首长拿督斯里依德利斯哈伦和首相署部长拿督魏家祥见证。

黄奕雄认为，签署系列了解备忘录，符合集团持续物色增购土地，用于集团的未来房产活动，推动该公司房地产业务的拓展计划。

他较后在新闻发布会上补充，国内缺乏综合性的主题乐园，就算目前大家脑海里浮现的也只是乐高乐园和云顶娱乐城，相信由该公司推动的产业发展项目，将能满足对主题公园的需求。

《印象．马六甲》露天剧场 有望2017年竣工

他说，马六甲印象城市预计占地100英亩，不包括准备开发为《印象．马六甲》大型露天剧场的17英亩土地，预计该露天剧场有望在2017年竣工。

永大建议向PTS产业、巫光伦和Apple impression公司收购PTS impression公司，后者持有《印象．马六甲》舞台表演项目制作权。

该公司也建议向Admiral City公司收购马六甲17英亩滨海地段，作为《印象．马六甲》表演地点及联营发展100英亩毗邻地段，计划展开为期8年的综合产业项目，发展总值约为63亿令吉。

永大也建议收购Terrawest资源公司，后者在蒲种2块永久地契的地段，有意兴建两座大楼，分别作为酒店和小型多功能办公室（SOVO），发展总值约为1亿7千300万令吉。

该公司将向PTS产业、拿督斯里李益辉等人收购Yuten发展公司，后者和Fahad控股联营吉隆坡U-Thant路两块约1.2英亩地段，计划兴建服务式公寓，发展总值1亿6千800万令吉。

第五项了解备忘录则为收购Land & Build公司，后者拥有新山两块地段的发展权。建议进行综合产计划，包含办公楼和酒店，发展总值约3亿6千300万令吉。

了解备忘录有效期3个月。

永大的主要股东李益辉和巫光伦也是Yuten和PTS impression的大股东，因此涉及利益。

今恢复交易

永大今日停牌，将于明日恢复交易，停牌前报78仙。

甲吸引中国游客

依德利斯指出，马六甲在吸引中国游客方面有很大潜能，最显著是每天傍晚有超过10辆旅巴到访参观马六甲海峡清真寺，加上最近中央政府已点头，让马六甲和中国广东省缔造更密切的双边关系。

他透露，甲州政府已圈定州内的2千500英亩土地，以开发为中国广东自由贸易区。他欢迎广东省的家电制造业者，把工厂转移到马六甲。

中国报

永大8年内项目发展值70亿

链接
（吉隆坡3日讯）永大（YONGTAI，7066，主要板消费）今日与5家供应商签署谅解备忘录（MOU），在未来8年内合作开发发展总值高达70亿令吉的房产业发展项目。

永大发布文告指出，公司分别与PTS impression有限公司、Yuten发展有限公司、Terrawest资源有限公司、Land & Build有限公司及Admiral City有限公司签署备忘录，在未来8年内于马六甲、巴生谷和柔佛进行发展总值高达70亿令吉发展计划。

该3项发展计划将各别带来63亿令吉、3亿4100万令吉和3亿6300万令吉收益。

根据文告，该发展项目包括，马六甲“Impression Melaka”和“Impression City”旅游及综合发展计划、 吉隆坡U-Thant路豪华服务式公寓项目、蒲种区小型多功能办公室（SOVO）和酒店大楼及柔佛综合发展计划。

此外，基于重大宣布，永大于周一（3日）向马证交所申请停牌一天，将于明日（4日）复牌。

南洋商报

购5公司发展隆柔甲土地

永大10年内推70亿楼盘

（马六甲3日讯）永大（YONGTAI，7066，主板贸服股）未来8至10年内，计划推出总值70亿令吉的楼盘，准备在产业领域大展拳脚。

永大执行董事黄奕雄今日在马六甲分别与5位卖家签署了解备忘录，在场见证者包括马六甲首席部长拿督斯里依德利斯哈仑，及首相署部长拿督魏家祥。

永大将放眼在马六甲、巴生谷及新山发展总值70亿令吉的产业项目。

根据备忘录，永大建议收购PTS Impression、Yuten发展、Terrawest资源、Land & Build，以及Admiral City公司。

值得注意的是，PTS Impression旗下拥有“印象马六甲”表演筹备和演出准证，而Yuten手中则持有开发吉隆坡U-Thant路1.2亩土地为高尚住宅的联营协议。

至于Terrawest资源，则在蒲种有两片地皮，计划发展为综合产房项目。

Land & Build在新山拥有发展综合房产项目的发展权。

同时，永大也建议收购在马六甲面海、占地17英亩的印象土地（Impression Land），计划发展为印象马六甲的主要演出场地。

最后，永大建议设立联营协议，开发毗邻印象土地的100英亩地皮。

马六甲发展总值63亿

上述的发展项目中，马六甲发展项目料贡献63亿令吉的发展总值；而巴生谷和新山各位3亿4100万令吉和3亿6300万令吉。

黄奕雄表示，公司去年开始进军马六甲的产业领域，获得令人鼓舞的反应，因此有信心本财年会获利。

今天出席弦乐仪式的卖方及代表，包括PTS Impression董事拿督斯里李益辉、Yuten发展董事谢振威、Terrawest资源董事黄势民、Land & Build产业主管郑良国、及Admiral城市董事经理姚和睦。

配合此宣布，永大今天暂停交易1天，明天（4日）早上9时恢复交易。该股上周五以78仙闭市。

主打印象马六甲 印象城市

黄奕雄说，印象马六甲及印象城市旅游和综合房产项目，军事公司主打的发展项目。

“印象马六甲及印象城市包括酒店、购物广场、剧场等，是一项总值63亿令吉的大型投资计划，预计8至10年才能全面完成。”

其中，印象马六甲的剧场预计可在2017年竣工，可容纳2000多名观众。

打造特色主题乐园

“印象马六甲是个大型实景舞台，属于中国著名的《印象》系列。这也是该系列首次来到马六甲，有著名导演张艺谋执导。”

有别于云顶及新山乐高（LEGOLAND）的主题乐园，他希望把“印象马六甲”打造为国内别具特色的主题乐园。

依德利斯哈仑在记者会上表示，目前每天有超过10辆载着中国游客的旅行巴士，来到马六甲海峡参观，相信永大的印象马六甲及印象城市，可为马六甲吸引更多的中国游客。

英文媒体：

THE STAR ONLINE

Yong Tai inks MoUs for RM7b GDV projects

LINK
KUALA LUMPUR: Yong Tai Bhd has entered into five MoUs which would provide it with five potential property development projects with a combined gross development value (GDV) of approximately RM7bil over the next eight years.

The company said on Monday it entered into MoUs with PTS Impression Sdn Bhd, Yuten Development Sdn Bhd, Terrawest Resources Sdn Bhd, Land & Build Sdn Bhd and Admiral City Sdn Bhd.

The potential projects tourism and mixed developments at Kota Laksamana, Malacca, comprising the “Impression Melaka” and “Impression City” projects, upmarket and luxury service apartments project at Jalan U-Thant, Kuala Lumpur, a mixed development project comprising a one tower block of small office versatile office (SOVO) units and one hotel tower in Puchong, Selangor as well as a mixed development project comprising retail and SOVO units, hotel and office suites in Johor Bahru, Johor.

The MoUs entail the proposed acquisition of the entire equity interest in PTS Impression, Yuten, Terrawest, and Land & Build.

PTS Impression is licensed to produce and stage “Impression Melaka”, while Yuten has a joint venture to develop 1.2 acres in Jalan U-Thant for a high-end residential project.

Terrawest owns 1.5 acres in Puchong slated for a potential mixed development project, and Lang & Build has the development rights for a 1.77 acre mixed development project in Johor Baru.

The MoUs also include the proposed acquisition of 17 acres of seafront land in Malacca to be developed into a theatre mainly for production of “Impression Melaka”, as well as a joint development of 100 acres of leasehold land in Malacca, adjacent to the “Impression Land”.

Yong Tai executive director Ng Jet Heong said the MoUs and proposals are in line with the group’s plans to grow its property development business segment through land acquisitions.

“The MOUs entered with the respective parties will allow us to negotiate with the parties involved and work together in executing definitive agreements for the proposed acquisitions and proposed joint venture,” he added.

Of the five potential projects, development projects in Malacca may potentially contribute RM6.3bil worth of GDV, while Klang Valley and Johor Bahru may potentially contribute RM341mil and RM363mil each.

THE STAR

Yong Tai signs 5 MoUs

Pacts entail five property projects with combined GDV of RM7bil

LINK
PETALING JAYA: Garment-maker-turned-property developer Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) to acquire land and businesses that can provide the company with five potential property development projects in the Klang Valley, Malacca and Johor.

Yong Tai told Bursa the five projects were expected to carry a combined gross development value (GDV) of RM7bil over the next eight years.

Executive director Ng Jet Heong said the move was in line with Yong Tai Group’s expansion and that it would “continuously seek” to acquire more land.

He said the MoUs will enable them to come to more definitive agreements for the proposed acquisitions and proposed JVs.

Trading in the shares of Yong Tai, which was suspended on Monday pending the above announcement, would resume today.

The counter was last traded at 78 sen prior to the suspension yesterday, when Yong Tai signed MoUs with PTS Impression Sdn Bhd, Yuten Development Sdn Bhd, Terrawest Resources Sdn Bhd, Land & Build Sdn Bhd and Admiral City Sdn Bhd.

The deal with PTS Impression and its vendors involves Yong Tai acquiring its entire equity stake. PTS Impression holds the rights to produce and stage a tourism performance known as “Impression Melaka”.

The deal with Yuten and vendors involve Yong Tai acquiring 100% of Yuten which has a joint venture arrangement with Fahad Holdings Sdn Bhd to jointly develop two adjoining parcels along Jalan U-Thant, Kuala Lumpur.

The MoU with Terrawest and vendors will see Yong Tai acquiring the company for its two parcels of freehold and contiguous land in Puchong, Selangor.

As for its MOU with Land & Build, Yong Tai is eyeing its development rights to develop two freehold parcels in Johor Baru.

Meanwhile, Yong Tai’s deal with Admiral City involves the proposed acquisition of 17 acres of seafront land in Kawasan Bandar VI in Malacca and to jointly develop 100 acres of leasehold land adjacent to the Impression land in Malacca.

Yong Tai said the MoUs would remain in force for three months, while the Admiral City agreement expires in two months.

Of the five potential projects, the company said Malacca development projects could potentially contribute GDV worth RM6.3bil, while those in the Klang Valley and Johor Baru may contribute RM341mil and RM363mil, respectively.

These potential projects would include the tourism and mixed developments at Kota Laksamana, Malacca, comprising the “Impression Melaka” and “Impression City” projects, upmarket and luxury service apartments project at Jalan U-Thant, Kuala Lumpur, a mixed development project comprising one tower block of small-office-versatile-office units and one hotel tower in Puchong, Selangor, and a mixed development project comprising retail and SoVo units, hotel and office suites in Johor Baru.

BERNAMA

Trading In Yong Tai Shares To Be Suspended For One Day On Aug 3

LINK
KUALA LUMPUR, July 31 (Bernama) — Trading in the shares of property developer, Yong Tai Bhd, will be suspended for one market day on Aug 3, pending a material announcement.

According to its filing today, Yong Tai said the suspension would take effect from 9am to 5pm.

The company intents to execute several memorandums of understanding with various parties in relation to the proposed acquisitions and proposed joint venture on August 3, 2015.

Meanwhile, Yong Tai Bhd’s board of directors have clarified that the company was not aware of any take-over proposal by Apple 99 Development Sdn Bhd.

It also said the article titled, “Melaka Property Group Eyes Yong Tai”, which implied that the company would make a reverse takeover offer, was not true.

Yong Tai said as part of the company’s expansion plan, it would continually seek opportunities to acquire strategic landbank or enter into joint development arrangements.

— BERNAMA

Yong Tai Optimistic Of Returning To The Black In FY15

LINK
MELAKA, Aug 3 (Bernama) — Yong Tai Bhd is confident that the company would be returning to the black in the financial year 2015 through its property development segment, its executive director, Ng Jet Heong said.

He said however, a significant figure would only be realised after three years which was normal in the industry.

“As a young player in the property market since 2014, we aim to capture more sales rather than profit to enable us to build our brand and position in the industry, quarter by quarter year.

“Therefore, the properties that we are eyeing would be priced competitively and maybe slightly below the market price,” Ng told reporters after signing Memorandum of Understanding (MoUs) with five vendors, namely PTS Impression Sdn Bhd, Yuten Development Sdn Bhd, Terrawest Resources Sdn Bhd, Land & Build Sdn Bhd and Admiral City Sdn Bhd.

Through the MoUs, Yong Tai would launch property projects worth up to RM7 billion in gross development value (GDV) over the next eight years in Melaka, the Klang Valley and Johor.

Ng said the MoU would facilitate the proposed acquisition of the entire issued and paid-up capital of PTS Impression for a licence to produce and stage Impression Melaka; Yuten for a property development in Jalan U-Thant, Kuala Lumpur; Terrawest in Puchong, Selangor; and Land & Build for a seafront project (Impression Melaka Theatre) in Kawasan Bandar IV, Melaka.

The property developments were mainly for building hotels, mixed developments and high-end residences.

Ng said the company also proposed a joint venture with Admiral City to develop a 40-hectare leasehold land adjacent to the Impression Melaka project in Kawasan Bandar IV.

Yong Tai recorded a pre-tax profit of RM682,000 in third quarter of the financial year ended March 31, 2015 compared with a loss of RM464,000 in the same quarter last year.

Revenue stood at RM34.82 million versus RM16.8 million previously.

On its garment manufacturing business, Ng said as it was very challenging, the company would concentrate more on property business.

“However, we would not just stop the garment manufacturing business as there were headcounts that needed to be considered. But we will try to improve or else we have to make a decision if it continues to make losses,” he said.

Among the challenges faced were high rentals in shopping malls for retail business and the stiff competition from China and Vietnam.

— BERNAMA

THE EDGE

UEM Sunrise, RHB Capital, AMMB, Yong Tai, Jaks Resources, Ecofirst, SapuraKencana, TPC Plus and Axis REIT

LINK

GEORGE TOWN (Aug 3): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Tuesday, Aug 4) could include: UEM Sunrise Bhd ( Financial Dashboard), RHB Capital (Financial Dashboard), AMMB Holdings, Yong Tai Bhd, JAKS Resources Bhd ( Financial Dashboard), EcoFirst Consolidated Bhd ( Financial Dashboard), SapuraKencana Petroleum Bhd, TPC Plus Bhd ( Financial Dashboard) and Axis Real Estate Investment Trust (Axis REIT) ( Financial Dashboard).

Property developer UEM Sunrise Bhd has acquired a 21-storey office tower in Melbourne, Australia, for A$58 million (RM161 million), which it plans to convert into a luxurious residential development.

In a statement today, UEM Sunrise said the purchase of the office tower, located on 412 St Kilda Road, is the company’s third property acquisition in the city, following its purchase of two central business district (CBD) sites on LaTrobe Street and Mackenzie Street in October 2013.

The 16,000 sq m office tower is located at a strategic corner site of St Kilda Road — one of the main routes into the Melbourne CBD. It is currently occupied by the Victorian Police and will be vacated after mid-2016.

“The intention of this acquisition is to develop ‘an unprecedented ultra-luxurious residential development’, potentially with a mix of ground floor retail and serviced apartment components. The company will continue to evaluate the market condition, in order for the development to meet future market demands,” said UEM Sunrise.

Its managing director cum chief executive officer, Anwar Syahrin Abdul Ajid, said: “The decision to acquire the 412 St Kilda Road site is part of our strategy to ensure steady flow of overseas projects. The property is in a different location from the two core CBD sites [that] we currently own. Being in the city fringe, it promises a different lifestyle and thus, will appeal to a different market segment.”

Meanwhile, RHB Capital Bhd (RHBCap) said there is currently no plan to enter into merger discussions with AMMB Holdings Bhd ( Financial Dashboard).

The fourth largest lender in the country was responding to a New Straits Times report today that it may revisit earlier plans to merge with AmBank Group — the nation’s fifth largest lender by asset.

“It is business as usual at RHB and we will continue to focus on improving our fundamentals,” RHBCap said in a statement today.

DigitalEdge Weekly had reported in its latest issue, citing sources, that the potential merger between RHBCap and AMMB has been put on hold, due to the current political headwinds.

A source familiar with the matter told the Weekly that the initial plan was to merge the two groups in a share swap, valued at about US$10 billion (RM38.25 billion), under which RHBCap would be the acquirer.

AMMB Holdings has long been viewed as a potential merger and acquisition (M&A) candidate, because of the possibility that its two largest shareholders, apart from the Employees Provident Fund (EPF), may eventually exit.

The two largest shareholders in AmBank Group are Australia and New Zealand Banking Group Ltd (ANZ) with a 23.78% stake, and founder cum chairman Tan Sri Azman Hashim with a 12.97% stake held through AmCorp Group Bhd. EPF owns a 16.4% stake.

The retirement fund, meanwhile, is the single largest shareholder in RHBCap with a 41.49% stake, followed by Abu Dhabi’s Aabar Investments PJS (21.2%) and OSK Group ( Financial Dashboard)’s Tan Sri Ong Leong Huat (9.97%).

Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) today for a host of proposed business and land acquisitions that can provide it five potential property development projects in Melaka, Klang Valley and Johor, with a combined gross development value (GDV) of about RM7 billion, spread over the next eight years.

In a filing with Bursa Malaysia, the garment maker turned property developer’s executive director, Ng Jet Heong, said the MoUs and the contemplated proposals are in line with Yong Tai Group’s expansion plans to grow its property development business segment by acquiring more lands with good prospects for future property development activities.

“The MoUs entered with the respective parties will allow us to negotiate with the parties involved and work together in executing definitive agreements for the proposed acquisitions and proposed joint venture,” he added.

It inked the MoUs with: PTS Impression Sdn Bhd (PTS Impression), Yuten Development Sdn Bhd (Yuten), Terrawest Resources Sdn Bhd (Terrawest), Land & Build Sdn Bhd (Land & Build) and Admiral City Sdn Bhd.

Jaks Resources Bhd’s wholly-owned unit, Golden Keen Holdings Ltd, has been awarded a engineering, procurement and construction (EPC) contract worth US$454.7 million (RM1.75 billion) for the power plant project in Vietnam.

The new contract has boosted Jaks Resources’ outstanding construction order book to RM2.44 billion, according to the press statement today.

In the statement, Jaks Resources said the EPC contract to Golden Keen encompasses both civil engineering works, such as construction of the independent power producer (IPP)’s infrastructure and buildings, as well as mechanical and electrical (M&E) engineering works.

EcoFirst Consolidated Bhd’s acquisition of a 62-acre (24.8ha) piece of land, worth RM145 million in Ulu Klang, Gombak, Selangor, has been further delayed due to technical issues on land alignment.

In a statement today, Ecofirst said the group and the landowner, Zurich Insurance Malaysia Bhd, have mutually agreed to extend the purchase completion for the piece of land for a further three months to Oct 31, 2015, due to the said reason. The land fronts the Middle Ring Road 2 (MRR2).

In a filing with Bursa Malaysia today, Ecofirst said both parties had via exchange of letters dated July 31 and Aug 3, 2015, agreed in-principle for the extension for the group to pay the balance purchase consideration of RM130.5 million, with late payment interest at the rate of 6% per year, on or before Oct 31, 2015.

Ecofirst is also required to pay the interest to Zurich Insurance Malaysia for the months of May, June and July, on or before Aug 7.

SapuraKencana Petroleum Bhd is establishing a joint venture (JV) to explore opportunities in Brunei Darussalam.

In its filing with Bursa Malaysia, SapuraKencana said its wholly-owned subsidiary SapuraKencana (B) Sdn Bhd (SapuraKencana Brunei) had entered into a shareholders agreement (SA) with Euthalia Energy Solutions Sdn Bhd and RSK Petroleum Sdn Bhd, which will be the JV company.

SapuraKencana said the purpose of RSK is to identify potential business opportunities, investments, JVs, business combinations or other transactions in Brunei, with respect to works and services in the oil and gas industry.

Under the SA, SapuraKencana Brunei will own a 70% stake in RSK, while the remaining 30% will own by Euthalia.

Main Market-listed TPC Plus Bhd has received Bursa Malaysia’s approval for its regularisation plan to help lift it out of its Practice Note 17 (PN17) status.

The egg producer was classified as a PN17 company in February last year, after its auditors had expressed concern over TPC, which posted a net loss of RM4.1 million in the financial year ended Dec 31, 2013 (FY13). Bursa’s decision had also taken into account that TPC’s shareholders’ equity as at Dec 31, 2013 was less than 50% of the latter’s issued capital.

In a statement today, TPC said Bursa had vide its letter dated July 31, 2015, approved its revised proposed regularisation plan, which entails a proposed share premium reduction, proposed par value reduction, a proposed rights issue with warrants, proposed capitalisation of amount owing to its holding company, Huat Lai Resources Bhd; as well as proposed amendments to its memorandum of association and articles of association.

Based on its approval obtained from Bursa, TPC said the regulator has also approved the listing and quotation of up to 180 million new TPC shares, under its proposed rights issue with warrants and proposed capitalisation.

Axis Real Estate Investment Trust (REIT)’s realised net income for the period came in at RM23.57 million, up 13.5% on-year from RM20.76 million.

The REIT also proposed a distribution per unit (DPU) of 4.30 sen, down one sen or 18.87% from 5.3 sen in the previous corresponding period, according to its filing with Bursa Malaysia today.

In a filing with Bursa Malaysia today, Axis REIT said the DPU represents approximately 99.1% of its 2QFY15’s total income available for distribution. The DPU is to be paid on Sept 11.

The REIT also reported a net profit of RM31.9 million — up 45.73% from RM21.89 million in 2QFY14; while revenue was at RM41.34 million — up 17.8% from RM35.09 million in the same quarter a year ago.

THE EDGE

Yong Tai plans business and land acquisitions for five potential property developments worth RM7b GDV

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GEORGE TOWN (Aug 3): Yong Tai Bhd has entered into five separate memorandums of understanding (MoUs) today for a host of proposed business and land acquisitions that can provide it five potential property development projects in Melaka, Klang Valley and Johor, with a combined gross development value (GDV) of about RM7 billion, spread over the next eight years.

In a filing with Bursa Malaysia, the garment maker turned property developer’s executive director Ng Jet Heong said the MoUs and the proposals contemplated are in line with Yong Tai Group’s expansion plans to grow its property development business segment by acquiring more lands with good prospects for future property development activities.

“The MoUs entered with the respective parties will allow us to negotiate with the parties involved and work together in executing definitive agreements for the proposed acquisitions and proposed joint venture,” he added.

It inked the MoUs with: PTS Impression Sdn Bhd (PTS Impression), Yuten Development Sdn Bhd (Yuten), Terrawest Resources Sdn Bhd (Terrawest), Land & Build Sdn Bhd (Land & Build) and Admiral City Sdn Bhd.

Under its MoU with PTS Impression and its vendors, Yong Tai wants to acquire the entire equity of PTS Impression, whic holds the license to produce and stage a tourism stage performance known as ‘Impression Melaka’

Under its MoU with Yuten, Yong Tai wants to buy the entire equity of Yuten, which holds a joint venture arrangement to develop 1.2 acres of land in Jalan U-Thant, Kuala Lumpur, into high-end residences.

As for its MoU with Terrawest, Yong Tai wants to acquire the former as it owns 1.5 acres of land in Puchong for a potential mixed development.

It also wants to acquire Land & Build as the latter holds the development rights for a mixed development on 1.77 acres of land in Johor Bahru, Johor.

Meanwhile, its MoU with Admiral City is to enable Yong Tai to take over the latter’s 17 acres of seafront land in Melaka Tengah (Impression Land) for a potential development into a theatre, mainly for the production of ‘Impression Melaka’.

Also under its MoU with Admiral City, it is proposing the establishment of a joint development arrangement to jointly develop approximately 100 acres of leasehold land that is adjacent to the Impression Land, which it refers to as the ‘Melaka JV Land’.

“Subject to the approval of relevant authorities, the Melaka JV Land, together with the Impression Land, are intended for a proposed master development over a span of eight years, which may include residential, retail, hotels, serviced apartments, office towers, commercial shops and offices.

Of the five potential projects, development projects in Melaka may potentially contribute RM6.3 billion worth of GDV, while Klang Valley and Johor Bahru may potentially contribute RM341 million and RM363 million, respectively, said Yong Tai.

These potential projects include the tourism and mixed developments at Kota Laksamana, Melaka, comprising the ‘Impression Melaka’ and ‘Impression City’ projects, upmarket and luxury service apartments project at Jalan U-Thant, Kuala Lumpur, a mixed development project comprising one (1) tower block of Small Office Versatile Office (SOVO) units and one hotel tower in Puchong, Selangor, as well as a mixed development project comprising retail and SOVO units, hotel and office suites in Johor Bahru, Johor, it said.

In a separate filing, Yong Tai said the MoUs will remain in force for three months except for the one with Admiral City, which will expire in two months. Yong Tai added that the MOUs would be terminated upon execution of the definitive agreements for the proposals.

Its shares was untraded today. It last closed at 78 sen for a market capitalisation of RM93.87 million.

THE SUN DAILY

Yong Tai shares suspended pending MoU

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PETALING JAYA: Trading in the securities of Yong Tai Bhd has been suspended today, pending an announcement on the company’s business collaboration.

The company is expected to sign a memorandum of understanding (MoU) today with four landowners, in line with its expansion plans to grow its property development business segment.

Under the MoU, the company will seek for opportunities to acquire more land with good prospects for its future development activities. The company is aggressively exploring projects in the Klang Valley, Malacca and Johor.

Established in 1971, Yong Tai’s core business has switched from garment manufacturing to property development.
Its maiden property development, The Pines, is a joint venture with Malacca-based PTS Properties Sdn Bhd with a gross development value of RM120.9 million.

Located in Malacca, the 29-storey four-star luxury condominium hotel is fully completed and sold.

The company is also the project manager for The Apple and Courtyard by Marriott, a 16-storey four-star hotel and 32-storey service apartment in Malacca. The hotel operations will be managed by the Marriott Group.

IPROPERTY.COM

Trading in Yong Tai shares to be suspended for one day on Aug 3

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KUALA LUMPUR, July 31 — Trading in the shares of property developer, Yong Tai Bhd, will be suspended for one market day on Aug 3, pending a material announcement.

According to its filing today, Yong Tai said the suspension would take effect from 9am to 5pm.

The company intents to execute several memorandums of understanding with various parties in relation to the proposed acquisitions and proposed joint venture on August 3, 2015.

Meanwhile, Yong Tai Bhd’s board of directors have clarified that the company was not aware of any take-over proposal by Apple 99 Development Sdn Bhd.

It also said the article titled, “Melaka Property Group Eyes Yong Tai”, which implied that the company would make a reverse takeover offer, was not true.

Yong Tai said as part of the company’s expansion plan, it would continually seek opportunities to acquire strategic landbank or enter into joint development arrangements.

–BERNAMA

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