Big fish, big pond: Malaysian land deal boasts some powerful partners

Article Abstract:

There are plans to redevelop 189 acres of state-owned land in Kuala Lumpur around Peel and Cochrane Roads. The new development will be called Super-Vision City and will involve former finance minister Daim Zainuddin and former deputy prime minister Ghafar Baba. However there are concerns about the glut of office space in Kuala Lumpur and the move of state agencies to the new administrative capital of Putrajaya in 1998. There is agreement that good quality middle class housing is salaeable, which the new mixed-used project will contain.

Kuala Lumpur, Malaysia (City)

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Beach games: new developer takes on Malaysian tourist plan

Article Abstract:

Malaysian businessmen Esa Mohamed and Ghazali Bujang have landed a joint venture with the government of Malaysia's Johor state to develop the Desaru area as a resort. Mohamed and Bujang founded Bagan Cerah, which joined with the government to create Desaru Development Corp, now seeking a listed partner. The pair plan a M$500 million, 800-hectare project with hotels, golf courses and a duty-free shopping complex; similar, though more ambitious plans, have failed in the past. The region, near Singapore, drew 400,000 visitors in 1994.

Bagan Cerah

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Kuala Lumpur: Larut lingers

Article Abstract:

Larut Consolidated's shares have underperformed despite an 86% rise in pre-tax profit for 1995 to 1996. The company won agreements with Talam Corp to set up and run a Chinese lottery scheme but this project was hit by a change in Chinese policy toward foreign involvement in gambling. The two companies sold their stakes at a loss. Larut has since been awarded a privatization contract to build, own and operate a highway in Malaysia but the share price has yet to respond.

Highways & Streets Constructn, Highway and Street Construction, Management, Road construction, Real estate industry, Larut Consolidated Bhd

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