DianaTan.net » Investment

HK ‘Superman’ Ka-shing ahead in malls bid

Diana — Sat, 09 Apr 2011 02:43:34 +0000

By BUSINESS TIMES

The Cheung Kong Group, owned by Hong Kong tycoon Li Ka-shing, has emerged as the front runner to buy three shopping complexes put up for sale by TMW Asia Property Fund.

Cheung Kong, which also helps manage AmFirst REIT in Malaysia via its affiliate ARA, is said to be going through the books of Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negri Sembilan.

Sources told Business Times that Cheong Kong was selected after its offer thumped those made by two other listed companies.

However, it is unclear if Cheung Kong (Holdings) Ltd made the bid directly or through one of the funds affiliated to it.

Li, who is also Asia’s richest man, is known as “Superman” in Hong Kong due to his deal-making ability. His Cheung Kong conglomerate is one of Hong Kong’s biggest property developers and owns the world’s largest operator of container ports, among others.

German-based TMW Asia Property Fund is selling the three shopping complexes which it bought in 2005 in a tender. The tender closed on March 8 2011.

The fund is managed by Pramerica, the real estate investment management business of Prudential Inc from the US.

It is understood that the asking price for the three assets was set at RM500 million.

International property consultant Rahim & Co was appointed as the exclusive agent to handle the tender.

Real estate agent, Rahim & Co’s managing director Robert Ang, when contacted by Business Times to confirm the bidders declined to comment.

TMW Asia bought the properties which then belonged to the Lion Group for RM340 million.

According to previous reports, Seremban Parade has a nett lettable area of 316,847 sq ft and sits on 1.97ha, Ipoh Parade has a nett lettable area of 594,414 sq ft on 4.14ha and Klang Parade has 696,045 sq ft of space.

Cheung Kong’s affiliate, ARA Asia Dragon Fund, bought two properties in Malaysia last year – One Mont’ Kiara in Kuala Lumpur and Aeon Bandaraya Mall Melaka – for a total of RM710 million.

Happy Chinese New Year 2011

Diana — Fri, 28 Jan 2011 02:08:43 +0000

I will be going to Hadyai for 3 days 2 nights with my family over Chinese New Year. I wish we could go to Europe but that is way beyond my budget and my family has already been to Europe before – every one of them except me. Do you like the picture of kids above? It was sent to me in an email and I decided to capture the essence of Chinese New Year with the kids greeting you. Maybe, I should find pictures with lots of gold and gold bars or gold bullions to signify prosperity that the Chinese race is identified with. And that is why other races in Malaysia are not too happy about it since they like to receive handouts from the Government and refuse to work hard. Imagine, the other day, I was at EPF headquarters in Penang to ask them to update my company’s EPF contribution. Such a nice huge office with more than 20 tables and chairs and cubicles but only 2 persons were working inside! The rest most likely MIA – missing in action! That is why the government keeps feeding them and paying them monthly for not working and they always take leave – paid or unpaid – Only God knows! With this kind of slothful attitude, they should not be jealous of the prosperity of the Chinese who are marginalised because they are rich, hardworking and diligent – as aptly put by Singapore’s Minister Mentor, Lee Kuan Yew.

I have come to a point where I can buy gold anytime or upgrade my Gold Investment Account with Public Bank by investing in more gold. But at the end of the day, you cannot take gold with you when you die. It might be better to give to the deserving poor families and not one that refuse to work but expect handouts all the time. Gold signifies prosperity and the Chinese love to wear their gold ornaments during this festive season.

Use Your Bonus to Buy Gold

Diana — Tue, 07 Dec 2010 02:54:45 +0000

It is almost the year end and companies are giving out bonuses to their employees for their whole year of blood, sweat and tears of working and laboring in the office. You can use your bonus to buy gold as a form of investment. Gold will certainly appreciate over time as according to the statistics over the last 10 years or more. In the 1970s, a gram of gold only cost $20 but it has increased so much to $130 a gram now. Besides, gold is synonymous with Christmas like the golden baubles, tinsles and golden Christmas tree stars. Gold is also a good hedge against future rising inflation that erodes the value of paper money. You will never go wrong when you choose gold over other asset instruments.

Gold is a Good Hedge Against Future Inflation

Diana — Wed, 10 Nov 2010 00:52:10 +0000

Buying gold bullion is a good hedge against future inflation that erodes the value of paper money. Using the rule of 72, if the inflation rate is 4%, then it take 72/4 equals to 18 years for your money to become half its value. This is not good news, folks and you need to save up as much as you can for your retirement years to be golden and not woeful. Wish someone had taught me this much earlier! But now, with much reading of financial books around bookstores, I am more knowledgeable and have started saving up for my retirement down the road in a couple of years times. Hence, gold is a good hedge against inflation as the price of gold has increased steadily over the last 30 years.

I love Gold Coins

Diana — Wed, 03 Nov 2010 23:27:02 +0000

Do you know that gold is a good hedge against future inflation? The price of gold has increased a lot over the last 30 years or so. During my time when I was small, it was only $20 a gram. Now the price has shot up to $130 a gram! Gold is expected to double in the next 2 years. If you have extra cash to invest, then it might be good to buy gold coins as they will become valuable as collectors’ items. For myself, I have a gold coin of half an ounce that was given by my wealthy uncle from Singapore. He has his own clinic in Tiong Bahru and is still practising even though in his nineties now. And he still plays golf!

6 Best Money Tips for Young People

Diana — Mon, 01 Nov 2010 07:38:20 +0000

When you start earning a steady income for the first time, it’s easy to spend too much on luxuries or to take on debt. But it’s also the best time to set yourself on the path toward wealth. These tips, based on the book Generation Earn: The Young Professional’s Guide to Spending, Investing, and Giving Back, will help you spend smarter, save more, and even give back to the causes you believe in.

Save one-third of your income. Putting $1 out of every $3 you earn into the bank might sound like a lot, and it is. At some times in your life, such as shortly after graduation or upon the birth of a child, when your budget is strained to capacity, it’s impossible. But at some point, it will become not only possible but essential to creating stability in your financial life. That’s because significant savings are the only way to weather the inevitable tough periods, such as layoffs, as well as move toward longer-term dreams, such as starting our own business. Yes, saving such a big chunk of money each month means sacrificing some comforts and indulgences in the short term, but it’s the only way to get closer to that ultimate goal of financial security.

Don’t scrimp on career-related investments. There’s one area where it’s okay to be a spendaholic, and that’s when it comes to investing in your future earning power. The category includes not only education expenses, but also voice lessons for an aspiring podcaster, how-to books for those with potentially lucrative hobbies, and a new wardrobe for office workers who need to impress the higher-ups. Even hiring a maid service is an investment in your future if you use the extra time it creates to work on your writing or website.

Cultivate your most ambitious dreams. The primary reason many people don’t reach their long-term financial goals is that they fail to ever articulate—even to themselves—what those goals are. Do you want to quit your day job and knit full-time? Or open the next big cupcake shop? Or star on your own reality television show? If you’re having trouble putting your finger on it, ask the people who know you best. Brainstorming with your significant other, family members, and friends can help shake loose your own thoughts.

Pay off all but your cheapest student loans early. Student loans that carry a 5 or 6 percent interest rate (or higher) are costing you much more than your savings can earn in this current low-interest rate environment. That means paying off a chunk of your student loans will immediately start saving you more money than you could if you continue to make those slow and steady monthly payments. Of course, not everyone has the cash to pay off a large portion of their loans, and it will probably take five-plus years after graduation to get to the point when you can even consider it. But once you have a healthy bank account, don’t wait too long to start paying off big chunks of those more expensive student loans.

Don’t wait to invest until you have “extra money.” Waiting to start a retirement account until you feel like you can afford it might mean that you can never retire. Don’t wait to open up a 401(k) account if your employer offers it, even if you start by contributing just 2 percent of your salary. Soon, you can raise that percentage to 4 percent, and eventually to 10 percent or higher. For extra motivation, plug your numbers into a retirement calculator on bankrate.com, and see how much you need to fund your golden years—it’s probably much more than $1 million.

Give back—on your own terms. Companies know that we want to make a difference in the world, and they want to profit off of that desire. That’s why so many of them are cashing in on the $600 billion plus “green” industry by claiming to be environmentally friendly when they’re not. It’s so common that it has a name: “greenwashing.” Don’t be fooled by all-natural labeling; investigate why the company is claiming to be good for the earth before spending your money. A similar lesson applies to giving to charitable donations: Use Charity Navigator to check the background of your chosen organization before donating any money to make sure it’s going to use the money the way you want it to.

I Don’t have Gold Bullion

Diana — Thu, 30 Sep 2010 00:04:53 +0000

For a start, I am not that rich to own gold bullion but I have GIA – gold investment account with Public Bank. It is just a small amount of gold for investment. The profit can only be realized 1 year later and not less than that, provided the price of gold has gone up. Actually I joined for the lucky draw as it was published in the press that 88 lucky account holders will have some gold deposited into they GIA. Alas, but it did not happen for me and I wonder, are they really sincere about it or was it reserved for their own staff!

The caption in the press was very attractive and certainly has pull factor to get my attention as I love anything FREE. My money is hard earned and I don’t have the luxury to sit back and enjoy a sip of fresh orange juice by the beach unlike some internet marketer who promotes their products online by stating it is the easy, lazy way to make money. But from experience, making money is not easy peasy as claimed to be. You still have to work hard for it.

Hence, I am not a ‘tai-tai’ or shopping mall person who spends money rather than make money. And whatever I make will go to my retirement fund. Yes, I am saving up for rainy days.

Gold Bullion for You

Diana — Fri, 10 Sep 2010 06:40:24 +0000

Do you have what it takes to invest in gold bullion? I certainly don’t have that much money to buy gold bullion, but keep most of my cash in Fixed Deposits and bought Government bonds or also known as Treasury Bills. The returns range from 2.75% for fixed deposits to 5% per annum for government bonds like Sukuk 1 Malaysia. However, I still opened a gold investment account early this year and it is to be retained for at least 1 year before you can realize the profit and sell back to the bank. I intend to keep the GIA for a long time for higher profit as gold is a good hedge against inflation. The price of gold has been increasing steadily over the last 10 years.

EPF Scored Five Star Rating For Service Delivery

Diana — Fri, 09 Jul 2010 02:23:48 +0000

Only Government Agency Awarded With Highest Rating

As an affirmation of its commitment towards service delivery excellence, the Employees Provident Fund (EPF) has been awarded a Five-Star rating under the Star Rating System conducted in 2009 by the Malaysian Administrative and Modernisation and Management Planning Unit (MAMPU).

In a statement issued today, EPF Chief Executive Officer Tan Sri Azlan Zainol said, “We are proud to be the only front-line government agency awarded with the highest rating of Five Stars. This accreditation not only recognises EPF’s sound management of its core business but also acknowledges the dedication of EPF staff to rendering the highest service quality to customers.”

The Star Rating was introduced to assess the performance of public sector agencies to ensure efficiency of service delivery and to provide recognition to agencies for good governance and service delivery excellence.

The EPF was evaluated based on three components – management, core services and customer management – and achieved a score of 91.97 per cent, giving it the maximum rating of Five Stars.

“Nevertheless, we will not rest on our laurels and if nothing else, the Five-Star rating has inspired us to work even harder to raise the level of our service quality for the benefit of all our members,” concluded Tan Sri Azlan.

About the Employees Provident Fund (EPF)
The Employees Provident Fund (EPF) is Malaysia’s premier pension fund, providing basic financial security for retirement. The Fund is committed to preserving and growing the savings of its members in accordance with best practices in investment and corporate governance. It will always be guided by prudence in its investment decisions.

As a customer-focused organization, the EPF delivers efficient and reliable services for the convenience of its members and registered employers.

The EPF continues to play a catalytic role in the nation’s economic growth, consistent with its position as a leading savings institution in Malaysia.

CapitaMalls REIT listing expected to raise RM864mil

Diana — Mon, 05 Jul 2010 02:25:36 +0000

It is expected to be Malaysia’s largest shopping mall REIT

PETALING JAYA: CapitaMalls Asia Ltd, one of Asia’s largest listed shopping mall developers, owners and managers by property value and geographic reach, has launched the prospectus and retail portion of what will be the largest shopping mall REIT (real estate investment trust) in Malaysia to date.

CapitaMalls Asia is part of Southeast Asia’s largest property developer Singapore’s CapitaLand Ltd.

The listing of CapitaMalls Malaysia Trust (CMMT) REIT on the Main Market of Bursa Malaysia on July 16 is expected to have a market capitalisation of RM1.4bil if an over-allotment option of up to 15% of the offering of 786 million units is exercised. If this portion is not exercised, it may raise RM864mil.

Its initial portfolio of three shopping malls – Gurney Plaza in Penang, Sungei Wang Plaza in Kuala Lumpur and The Mines in Selangor – has a total net lettable area of 1.88 million sq ft and has been valued at RM2.13 bil.

Lim Beng Chee … ‘We see acquisition opportunities in Malaysia’s shopping mall sector.’ The CMMT IPO will have a total of 1.35 billion units in issue, of which 719 million units were offered to institutional investors at between RM1 and RM1.10 each in late June and 67.5 million units for individual investors at an indicative price of RM1.08 yesterday, with a forecast distribution yield of 6.9% for 2011. The final price will be determined on July 8.

CapitaMalls Asia CEO Lim Beng Chee told a press conference that occupancy and rental yields had increased for all three malls in its stable despite a weak economy in the last two years.

“We see acquisition opportunities in Malaysia’s shopping mall sector, with its fragmented ownership structure.

“CapitaMalls Asia will give CMMT a right of first refusal over any retail properties that we may acquire in future, including the extension that is being carried out at Penang’s Gurney Plaza. If acquired, Gurney Plaza extension will increase CMMT’s asset size by about 11%,” he said.

CIMB Investment Bank Bhd, JPMorgan Chase & Co and Maybank Investment Bank Bhd are jointly managing the IPO sale.

“As part of our long-term commitment, CapitaMalls Asia also plans to set up a Malaysia retail property fund to acquire and develop retail properties in Malaysia. CMMT will similarly have a right of first refusal over this pipeline of retail properties,” Lim said.

CIMB Investment Bank Bhd, JPMorgan Chase & Co and Maybank Investment Bank Bhd are jointly managing the sale. Individual investors will get a refund if the final price for institutional investors is lower than the retail price. CMMT’s sponsor, CapitaMalls Asia Ltd, will retain a stake of 41.74% in CMMT.

If an over-allotment option of up to 117 million units is exercised, CapitaMalls Asia’s stake in CMMT will be 33%.

The IPO follows the RM1.5bil raised by Sunway Real Estate Investment Trust in its initial sale last week and underscores rising investor appetite for equities in Malaysia amid an economic rebound.