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News Updates & Article sharing

Another China Developer Top Company coming to Malaysia for Partnership!

11/10/2016

1 Comment

 
Follow with China signed a RM155bil foreign investment MOU to invest into major areas such as Infrstructure, transportation and real estate. Then Jack Ma is being appointed as Malaysia's Digital Economy Advisor for Malaysia. Now we have CREC having another project with Titijaya Land Bhd. CREC is one of the world’s largest construction companies, with a history of more than 100 years and ranked 57th among Fortune World Top 500 Enterprises and 7th among Top 500 Chinese Enterprises in 2016.

Titijaya partners CREC for RM2.1bil project

KUALA LUMPUR: Property development company Titijaya Land Bhd’s wholly-owned subsidiary Titijaya Resources Sdn Bhd has today signed a shareholders agreement with CREC Development (M) Sdn Bhd for the construction and development of a leasehold land at Embassy Row, Jalan Ampang.
Picture

​The proposed development to be built on the land measuring 6.06 acres, is expected to have a gross development value of RM2.1bil.

Concurrently, both companies have also acquired Ampang Avenue Development Sdn Bhd for a total purchase consideration of RM80mil.

Ampang Avenue, whose subsidiary is the registered proprietor of the land, now functions as the joint venture (JV) company.

The plot of land has a current market value of RM403mil and has an approval from Dewan Bandaraya Kuala Lumpur for a mixed use development with a plot ratio of 1:8:0.

In the JV company, Titijaya will be responsible for matters related to sales, marketing, credit management and administration, while CREC will take lead for matters related to monitoring, management and supervision of the day-to-day construction operations.

Both companies will appoint a nominee company of CREC as the main contractor of the JV company for the proposed development project.

Titijaya group managing director Tan Sri Lim Soon Peng said that the signing marks an important milestone for Titijaya, in its efforts to broaden its revenue stream.

“The rationale of the proposed acquisition of Ampang Avenue is for Titijaya Resources together with CREC as shareholders of the JV company to form a strategic collaboration in relation to the proposed development of the land.

“We believe that this corporate exercise will enable us to seek new strategic growth and ensure earnings sustainability for Titijaya, moving forward,” said Lim.

He added that the proposed JV with CREC will enable both parties to leverage on the synergistic outcomes, for mutual benefits.

CREC Development is a wholly-owned subsidiary of China Railway Engineering Corporation (M) Sdn Bhd, which is in turn a wholly-owned subsidiary of China Railway Group Ltd.

CREC is one of the world’s largest construction companies, with a history of more than 100 years and ranked 57th among Fortune World Top 500 Enterprises and 7th among Top 500 Chinese Enterprises in 2016.

Refer from www.starproperty.my

1 Comment
http://www.needmypaper.com/about-us/ link
11/22/2016 06:51:49 pm

The equipment of China is one of the best equipment around the world. We should take our time and learn from them. I mean, shouldn't countries share their ideas to one another so we could live harmoniously? I guess they are more concerned with the business aspects. That's just sad.

Reply



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  • Home
  • New Property Launch
    • Sepang Freehold Individual Title AI Cluster & Semi D Warehouse Factory
    • Lakeside Freehold Fully Residential Private Lifestyle Condominium in Cyberjaya
    • Spacious 2024 Completion KL Condo Fully Residential KLCC View
    • RUMAWIP Bukit Jalil (Bumi Only)
    • Lake City @ KL North NEW PHASE FROM RM380k
    • Alora Residences – Inspired living within greenery in Subang Jaya
    • PJ Spacious and Affordable 5 Star Condo
    • Bangsar South 2 Rooms from RM390k BELOW Market Price
    • 10% ROI PJ Project near Ikea and One Utama Mall
    • Project Announcement Registration. Malaysia New Property Launch
  • Existing & Past Project
    • Best Investment 2022 PJ Damansara Low Risk Low Entry Price High ROI
    • 2022 PJ Rumah Mampu Milik RM270k Damansara
    • Mid Valley Seputeh New Launch
    • Pavilion Damansara Heights 柏威年 白沙罗岭 马来西亚 吉隆坡 精选楼盘
    • 马来西亚RM300千的PJ屋子-首购族,年轻人月入3千能买房
    • 2021 Penang Most Awaited Project
    • 2021 New Launch - KL Metropolis
    • Freehold LRT Linked 3 Room Suites in Glenmarie
    • New SPACIOUS Kepong Landed 6 Room 6 Bath
    • Bangsar Last Piece Land New Launch
    • Avara Seputeh (Mid Valley)
    • 2020 Lowest Risk & Price in Klang Valley with Great ROI
    • Kiara East Suite Dex
    • 2019 SAFEST PROFITABLE HIGH CASHBACK INVESTMENT
    • Best Property Investment Projects in 2018
    • KL City Freehold Spacious Affordable 3 room Project
    • Jalan Kuching Freehold New Office & Shoplot
    • Jalan Ipoh New Freehold Shoplot & Offices
    • RM300k KL Sentral New Prelaunch
    • The Olive Condo, Sunsuria City
    • Prelaunch Landed House Bukit Rahman Putra
    • RM260k No Downpayment Puchong South Suites
    • PJ North RM400k High Cash Back Project
    • Denai Sutera @ Alam Sutera, Bukit Jalil
    • First Phase of Banting New Township
    • Neu Suites 3rdNVenue @ Embassy Row by Titijaya & CREC
    • COURT 28, Jalan Ipoh KL City New Property Launch Service Apartment. Malaysia New Property Launch
    • Semanja Kajang New FREEHOLD Kajang Double Storey Houses. Malaysia New Property Launch
    • M Suite @ Desa Park North
    • BIJI LIVING @ Sek 17 PJ City by Conlay. Malaysia New Property Launch
    • Amani Residence Bandar Puteri Puchong New Freehold Service Apartment. Malaysia New Property Launch
    • SFERA RESIDENCY @ Puchong South. Malaysia New Property Launch
    • KL North Last Release
    • PreLaunch Freehold Double Storey
  • LAND
  • News & Articles
    • Educational Articles
    • Ho Chin Soon Greater KL Map Sharing
  • Other Reference Link & Services
    • Land Sale Malaysia
    • Other Professional Services
  • Referral
  • Career
  • MPIG
    • About Us
    • Contact Us
  • Get Professional Advice
  • PJ八打灵全新地产项目分析手册
  • Privacy Policy