Summary and view: The TUDM Butterworth land will be redevelop after completed new air-force base (somewhere near Perai Mainland, speculate is in Kedah state) and moved. This will impact the house price in Sungai Puyu, Teluk Air Tawar and Bagan Lallang areas, as it proximate to RMAF base and bound by guideline for building height. Guess the development of this project will be similar to undersea tunnel, around year 2018 - 2019. As the house price in this area started to boom after the announcement of undersea tunnel, do expect it will create another wave for the house price adjustment, especially housing in Raja Uda, Sungai Puyu, Kampung Benggali and Teluk Air Tawar.
TSR Capital in land swap with govt
By Fatin Rasyiqah Mustaza of theedgemalaysia.com
Thursday, 06 February 2014 11:27
KUALA LUMPUR: Property developer and builder TSR Capital Bhd, together with Lembaga Tabung Angkatan Tentera (LTAT) and bumiputera-owned Pembinaan Bukit Timah Sdn Bhd (PBT), will redevelop the existing 1,007-acre (407.52ha) air force base in Butterworth, Penang into an integrated mixed-use project with a potential gross development value (GDV) of more than RM10 billion.
TSR said in its announcement to Bursa Malaysia yesterday that it had received the government’s approval in principle to set up a joint-venture (JV) company to enter into negotiations with the latter to redevelop the Royal Malaysian Air Force (RMAF) base as part of a proposed land-swap deal with the federal government.
The three companies will also develop a new RM3 billion air force base for the RMAF near mainland Penang. Under the partnership, TSR Capital will have a 51% stake in the JV, while LTAT and PBT will hold the remaining 30% and 19% respectively.
“The government will be able to participate in the redevelopment of the government land through LTAT’s equity interest in the JV company,” said TSR Capital in the filing.
Under the deal, the JV will undertake to relocate the existing air force base and reconstruct it on land to be identified. “The JV company will [also] design, build and finance the development and construction of the new air force base. The government will pay the JV company for the new air force base through a land swap at current market value of government land.
“The government land includes, but is not limited to, a tract measuring 1,007 acres where the existing RMAF Butterworth is situated,” it added.
According to TSR Capital group accountant Ng Kim Keong, the location of the new air force base will be “not far from mainland Penang” and the JV company will serve as the master developer of the redevelopment of the government land.
Ng told The Edge Financial Daily yesterday that negotiations on the deal are expected to be finalised in a year. “All this is subject to approval by all parties. We need to get approvals on the cost, design and so on before we can start construction,” he said, adding that construction of the new air force base will take about four years.
On the land where the existing air force base is located, Ng said the proposed mixed-use development is estimated to have a GDV of more than RM10 billion, and that project will only start after the new air force base has been completed and the existing RMAF Butterworth base, which remains operational for now, is relocated.
On the reasons for the relocation, Ng said the existing air force base is near residential areas and the RMAF equipment as well as buildings are not up to date and need fixing.
The company added that it will provide further details after definitive and conclusive terms have been agreed upon and a formal agreement has been entered into by the parties.
TSR Capital’s share price had moved up 10 sen, or 7.62%, to RM1.43 at the close of trading yesterday.
Original link: http://www.theedgemalaysia.com/highlights/273984-highlight-tsr-capital-in-land-swap-with-govt.html
Interesting Users' Comment on NAP 2014
Ministry of International Trade and Industry (short for MITI) announced the new National Automotive Policy 2014 on 20 Jan 2014. I'm not to comment anything on the new policy, and this is not automotive blog that keep you up to date about automotive. Just would like to share some interesting comment from Paul Tan's blog.
The original page for this comment at this link.
The original page for this comment at this link.
Waste Collection Schedule for Taman Merbau Indah by Tasek Gelugor MPSP
The waste collection for Taman Merbau Indah schedule to be every Monday, Wednesday and Friday by MPSP.
Refer to this MPSP link and look for "Taman Merbau Indah" for the list.
Refer to this MPSP link and look for "Taman Merbau Indah" for the list.
Taman Merbau Indah Phase 2B OC Obtained
Occupation Certificate for Taman Merbau Indah Phase 2B obtained (Nov 2013) and few owners had kick-started the renovation activity.
Here are few photos for your reference.
Here are few photos for your reference.
No Unifi service, only Streamyx available in Taman Merbau Indah (Dec 2013)
After Unifi service got roll out in Raja Uda residential area for 1 year plus, the fiber optic broadband service still not yet available in Sungai Dua Butterworth area. Insider news that Unifi will make available in Kepala Batas and Bertam. For Teluk Air Tawar area, it might highly possible available as it in between the connection from Raja Uda to Kepala Batas & Bertam. Anyway, it still not sure Sungai Dua will get the Unifi service.
Currently, the only fixed internet broadband service available to Taman Merbau Indah residents is Streamyx ADSL. The maximum available speed available is 8Mbps. Currently I am on 4Mbps Streamyx package. For wireless broadband services, the available providers are YTL Yes 4G, P1 Wimax, Maxis broadband, Celcom broadband, Digi broadband, and U Mobile broadband. For Maxis, Celcom, Digi and U Mobile, only 3G available and no LTE coverage yet.
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