KUALA LUMPUR | Le Nouvel Towers | 49f, 43f

afiqnadzir · #1 Posted **Sep 23, 2011, 10:03 AM**

2007 newS

BURSA MALAYSIA: KL Shares Close Higher As China's Markets Reboun
June 05, 2007 17:42 PM

KUALA LUMPUR, June 5 (Bernama) -- Share prices on Bursa Malaysia closed higher on buying interest in the second half of the afternoon session following a recovery in the Chinese stock markets after a plunge this morning.

The local bourse was higher in the early morning as it took the cue from overnight gains on Wall Street but turned weaker around midmorning as the Chinese markets plunged, a dealer said.

However, the Chinese markets recovered in the late afternoon after talk of support from fund managers, he added.

At 5.00 pm, the Kuala Lumpur Composite Index added 9.32 points to 1,369.50. It had opened 0.92 of a point higher at 1,361.19.

The Second Board Index edged up 1.23 points to 104.02 and the Mesdaq Index gained 2.57 points to 132.54.

The Industrial Index increased 25.37 points to 2,660.18.

The FBMEmas added 41.08 points to 9,149.59 and the FBM30 gained 48.03 points to 8,718.39.

Gainers led losers by 671 to 208 while 244 counters were unchanged, 272 untraded and 36 suspended.

The turnover increased to 1.262 billion shares worth RM2.039 billion from 941.819 million valued at RM1.947 million yesterday.

Among the biggest gainers today were property counters, led by DNP, which recently received the approval to convert its proposed office project in KLCC, Menara DNP, into a luxury condominium project.

DNP was the biggest gainer today, up 77 sen to RM3.02, after a research house rated it a buy as the project is expected to generate an after tax profit of RM320 million.

An analyst said the local bourse is ready for another record high tomorrow, to between 1,370-1,400, if Wall Street remains strong overnight and the Chinese markets rebound further.

In China, the Shanghai Composite Index today closed up 96.70 points to 3,767.10 after a volatile day and talk that the Chinese government ordered fund managers to support the markets there.

On the local bourse's outlook, the analyst said property counters would continue to attract interest in a bullish market on the prospects of strong growth under the Ninth Malaysia Plan.

Among the volume leaders, Petrochina call warrant rose four sen to 15 sen, GPA added 2.5 sen to 22.5 sen, China Mobile call warrant added 1.5 sen to 11.5 sen, Damansara Realty was unchanged at 47 sen and Iris added four sen to 32.5 sen.

Among the blue chips, Tenaga was unchanged at RM11.50, Maybank rose 10 sen to RM12.40, Bursa added 60 sen to RM12.00, Petronas Gas added 40 sen to RM10.40, Digi lost 30 sen to RM21.00 and Sime Darby fell 15 sen to RM9.95.

Volume on the Main Board increased to 773.859 million valued at RM1.798 billion from 670.698 million worth RM1.730 billion yesterday.

Turnover on the Second Board rose to 150.113 million worth RM119.321 million from 105.142 million worth RM118.632 million.

The volume on the Mesdaq Market increased to 146.076 million valued at RM83.746 million from 114.519 million valued at RM77.341 million.

Turnover for call warrants surged to 192.072 million worth RM36.956 million from 51.459 million worth RM20.058 million.

Direct business rose to 133.107 million valued at RM211.323 million from 31.215 million worth RM40.957 million.

On a sectoral basis, consumer products accounted for 35.974 million shares traded on the Main Board, industrial products 87.481 million, construction 79.126 million, trade and services 177.554 million, technology 5.853 million, infrastructure 6.315 million, finance 76.341 million, hotels 6.194 million, properties 179.338 million, plantation 22.624 million, mining 168,000, REITS 2.999 million, closed/fund 75,000, ETF nil and loans 93.817 million.

-- BERNAMA

afiqnadzir · #2 Posted **Sep 23, 2011, 10:04 AM**

2008 news

Wing Tai JV to buy 43-storey condo in KL
Posted on April 25, 2008
by lushhomeonline

TWO listed units of Wing Tai Holdings have agreed to pool synergies in the hospitality and property management sector by forming a joint venture (JV) to acquire a 43-storey condominium in Kuala Lumpur, which will be jointly owned and operated as serviced apartments.

Bursa Malaysia-listed DNP Holdings on Wednesday entered into a joint venture and shareholders’ agreement with Hong Kong-listed USI Holdings for the joint-venture company Kualiti Gold to acquire en bloc 115 condo units and a similar number of parking bays in a condominium block for RM139.75 million (S$60.3 million) cash. It will also have the option to purchase up to an additional 115 parking bays.

The total price of RM139.75 million based on a net floor area of 199,639 square feet (excluding the parking bays) was based on a calculation of RM700 per sq ft.

The block is part of an ongoing high-end condo and service apartment development of three blocks of 43-storey condos, one block of 4-storey service apartments, a 5-storey multiple-level carpark block, and a swimming pool, currently being developed by Starpuri Development, a wholly owned subsidiary of DNP.

The development is within the Kuala Lumpur Golden Triangle fringe and is in the initial stages of construction, with the completion of the condominium block in question expected to take about three years.

DNP and USI will have an equal share in Kualiti Gold, their subscription of new shares in the company to be wholly satisfied by cash totalling nearly RM250 million. The balance RM67.25 million after paying for the condominium and parking bays will be used to fund the optional purchase of an additional 115 parking bays and other expenses.

DNP believes the condominium ‘will be able to generate consistent and recurring income in the future, including potential capital appreciation’.

A property investment company, Kualiti Gold is an existing wholly-owned subsidiary of DNP, but has been dormant since its incorporation in 1994.

Wing Tai Holdings has a 33.63 per cent indirect interest in USI; it also owns a 47.61 per cent direct and 7.65 per cent indirect interest in DNP.

The joint-venture shareholders’ agreement is conditional on a number of terms, including the approval of Malaysia’s Foreign Investment Committee.

afiqnadzir · #3 Posted **Sep 23, 2011, 10:05 AM**

2009 news

DNP to launch 'Le Nouvel' luxury condo by early 2011
Published: 2009/11/24

DNP Holdings Bhd (2976), a property development and investment group, will launch its most expensive residential project dubbed "Le Nouvel", worth an estimated RM1 billion, in Kuala Lumpur by end-2010 or early 2011.

Le Nouvel comprises two residential towers with 43 and 49 floors respectively, offering a total of 197 condominium units ranging from 1,800 sq ft to 4,700 sq ft. The towers will be built near Avenue K on Jalan Ampang.

"We have the approvals to do the project, but the current market conditions are unfavourable to a launch. A better timing would be a year from now," said DNP company secretary and general manager for treasury and accounts, Lee Kong Beng, after the company's shareholders meeting yesterday in Sepang.

Lee told Business Times that DNP may sell the buildings enbloc if it receives good offers.
"If somebody offers something we can't resists, then we will go for it. Otherwise, our plan is to sell the units individually," Lee said.

He declined to say how much each unit will be priced. Based on rough calculations if the market price maintains at RM2,200 per sq ft, each unit could sell for RM4 milion to RM11 million.

Lee also said DNP's immediate focus is to launch 25 units of luxury condominiums in a five-storey block along Jalan U-Thant, Kuala Lumpur, for some RM200 million, in three to six months from now.

DNP will also launch Block B and D of Verticas Residences in Bukit Ceylon, Kuala Lumpur, pending sales of Block A.

Verticas has four blocks, worth some RM800 million. Blocks A, B and C have 43 floors each, with 417 condominium units in total. Block D is a low-rise block offering only six units.

DNP has sold Block C to Kualiti Gold Sdn Bhd, a joint controlled entity, for RM139.7 million cash, while 100 units in Block A have been taken up since its soft launch in July.

"There are 67 units left in Block C. Once we have sold them, we will launch Block B and D immediately. This may happen early next year," Lee said.

Lee said he is confident that DNP will do better this year given the new launches and the market improving.

For the first quarter ended September 30 2009, DNP posted a net profit of RM9.81 million, up 23 per cent over the same quarter last year.

DNP, which has total assets worth RM936 million, is buying more land to expand its business and enhance shareholders' value, Lee said.

In a filing to Bursa Malaysia yesterday, DNP said it has bought 3.76ha of leasehold land in Bandar Sunway, Petaling Jaya, from an unrelated party for RM56 million cash.

Lee said DNP may build shop offices on the land, but plans are still preliminary.