Sunway Again In Bukit Mertajam?

Recently heard some rumour that Sunway is compensating house owners at Kampung Aston just next to Ivory/Dijaya's Aston Villa. Is Sunway going to have another project in Bukit Mertajam?

      Another Sunway project in Bukit Mertajam?

Anyway, this is just a rumour.

Sunway Wellesley, which is Sunway's first project in Bukit Mertajam is currently in the land-filling stage for its commercial development.

The first phase of Sunway Wellesley features 29 units of 3-storey shop offices sprawled over 3.2 acres. As the developer sees the importance of providing choices, the shop-offices come in two unique designs, with built-ups for the first type starting from 3,815 sq ft on a lot size of 1,300 sq ft –perfect for boutiques and wellness centres – and the second design comes with a built-up of 4,270 sq ft with a lot size of 1,460 sq ft, which would appeal to flagship businesses and F&B outlets.

      Sunway Wellesley Grand Lobby

Sunway Wellesley takes modern architecture and gives it a green twist, by providing a 15-feet high ceiling for the ground floor shop-offices, giving room for natural light to filter through with proper ventilation for businessmen and consumers alike. There is also a 15-feet wide verandah walkway and a covered al fresco area, a respite from the hot Malaysian sun for pedestrians. The shop-offices themselves come with double frontage, giving businesses added exposure. 

      Sunway Wellesley

Bukit Mertajam old town center is busy & noisy in the daytime but quiet in the night time, except in the market area. Will Ivory & Sunway projects bring more night life to this area?

CSL: At Strong Support

CSL share price attempted to launch a comeback yesterday, but failed, temporarily.

The China-based stationery maker has its IPO under-subscribed by 50% back in Feb this year at 90sen per share. However, it made its debut brightly when its share price shot up to RM1.40 in the first 3 trading days. This translates into a 55% gain from its IPO price. After retreating to RM1.00, it surged again to touch RM1.90.

Currently it is again close to RM1 level, which should be a strong support technically. Will CSL try to rebound again next week? The chance is there.

      CSL: can it make a U-turn?

CSL recently announced a proposed bonus issue of warrants, with one warrant for every 2 existing ordinary CSL shares. This will increase the total shares 50% to 1,788,886,164 shares when all warrants are exercised. 

Financially, like most other China-based stocks listed here, CSL is considered good. It registers decent growth in revenue and net profit since year 2007, and seems to continue this trend in 2012 base on its strong 2012Q1 result.

RM mil	2007	2008	2009	2010	2011
Revenue	233	413	556	670	837
Net Profit	97	126	169	189	219

RM mil	2012Q1	2011Q1
Revenue	240	184
Net Profit	62	52

From my calculation, its EPS for FY2011 stands at 18.4sen, which gives a PE ratio of 5.6 now at RM1.03 per share, which is attractively low like other China stocks here. However, after the bonus issue of warrants, this figures will change.

In its prospectus, CSL proposed to give out at least 20% of net profit for dividend for FY2012, which is not very attractive.

China stocks are notorious for accounting fraud, do you think it's worth to invest? For short term, perhaps it is worth a try.

Malaysia 1-0 Chelsea FC

SP Setia (40%), Sime Darby (40%) and EPF (20%) has just successfully clinched the rights to redevelop a 39-acres Battersea Power Station site in London for 400mil pounds. The piece of land south to the River Thames, is said to be the last piece of prime land in central London available for redevelopment. 

      Battersea prime land

One of the many bidders for the site is Chelsea Football Club, who may wish to have a new ground there. The existing ground Stamford Bridge is just opposite the river. Now Chelsea FC has lost before the start of new season...

     Battersea power plant

After Singapore and Australia, SP Setia has successfully placed its footprint in another developed country. With the experience and capability of SP Setia & Sime Darby, this redevelopment should be a success.

Malaysia's Chelsea FC fans may wish to get a holiday home there!

Pearl Impian: Latest Addition of Pearl Series

Fresh from the launch of Pearl Residence gated & guarded homes and Straits Garden suites & condominium, Tambun Indah is preparing for another new launch at its flagship project Pearl City.

Pearl Impian, which is labelled as "affordable double storey houses", is now open for registration. This new development is located north of the Sekolah Kebangsaan & Sekolah Menengah Kebangsaan Bandar Tasek Mutiara.

      Pearl Impian site plan

The house size is rather small with a built up area of 20'x36.5' on a land area of 20'x56.5'. They are priced from RM268k after discount. If not mistaken, nearby Pearl Indah with 20'x60' land & 20'x40' built up was launched last year at around RM280k but now the price has gone up to more than RM340k.

     Pearl Impian DST

Tambun Indah has shown its latest Pearl City development plan during the opening of its new sales gallery at BTM earlier this year. At that time, the site of Pearl Impian already been revealed. From the plan, we can expect more houses (probably DST) north to Pearl Impian and probably a bunch of lost-cost high-rise building south of the schools. There is likely to be another gated guarded community between the low cost development and Pearl Residence, where the road between them (Jalan Tasek Mutiara 7) will likely to be connected to Jalan Valdor, where the new Jit Sin High School branch is proposed.

      Pearl City master plan: Pearl Impian is the yellow tag at the bottom

     Jalan Tasek Mutiara 7 will lead to Jalan Valdor