MKH's affordable homes strategy pays off

The Star, Thursday, 23 July 2015

New landmark: An artist’s impression of Kajang 2. MKH’s property crown jewel is the 220-acre Kajang 2 flagship development, where more projects would be rolled out closer to the completion of the MRT in 2017.

PETALING JAYA: MKH Bhd’s focus on developing affordable homes will help the company continue to generate steady earnings despite the slowdown in the local property market.

AllianceDBS Research said in a report yesterday the company’s strong orderbook was testament that there was robust demand for affordable homes.

“Unbilled property sales had reached a record high of RM843mil as at March 2015, representing 1.6 times its 2015 (ending Sept 30) property revenue. We understand property sales had reached RM600mil as at June, and is on track to meet its 2015 target of RM850mil.

“This is largely driven by its focus on affordable homes, which remain popular with buy-to-stay homebuyers.”

The research house said MKH’s property crown jewel is the 220-acre Kajang 2 flagship development, where more projects would be rolled out closer to the completion of the Mass Rapid Transit (MRT) in 2017.

“We conservatively estimate the land alone to be worth over RM300mil,” it said.

AllianceDBS Research added that MKH’s property sales had been resilient over the past two years despite the slower market, thanks to its focus on affordable homes, in which the group has a good track record. 

“MKH never employed the Developer Interest-Bearing Scheme when its peers introduced the incentive package in the past few years to attract buyers. This suggests the focus on affordable homes has helped to boost its sales.”

According to the research house, MKH still has about 1,400 acres of land bank, about half of which is located in the booming Kajang-Semenyih growth corridor and spurred by the development of the MRT connectivity.

“The land bank has generated more than RM10bil in gross development value and has underpinned earnings visibility for more than 10 years. However, MKH continues to actively scout for strategic land bank,” it said.

Separately, the research house said the company’s plantation business was already self-sustaining, adding that MKH had started servicing its US$85mil (RM323mil) borrowings since March. 

“Thanks to the young tree profile, first-half 2015 fresh fruit bunch volume grew 41% year-on-year and helped to offset the impact of the low crude palm oil (CPO) price.

“A sustainable recovery of CPO prices will be a major catalyst for MKH because of the naturally high operating leverage for the plantation business,” it said.

MPKj puts off parking fee collection in some areas

The Star, Tuesday July 28, 2015

The affected areas: Ng showing the list of places that were supposed to charge for parking from Aug 1. The collection of parking fee has been postponed pending a possible review.

THE Kajang Municipal Council (MPKj) will not collect parking fee in some parts of its area of jurisdiction come Aug 1 as announced earlier.

Its president Mohd Sayuthi Bakar said the council made the decision as it was not ready to implement it because some areas were not equipped with parking bays yet.

However, he did not say when the parking bays would be ready and when the fee would be imposed.

The areas where parking fees will be imposed later are Sungai Long, Bandar Mahkota Cheras, Metro Point Kajang, Sections 15, 4, 8, 9 and 7 and Jalan Medan PB of Bandar Baru Bangi. About 6,500 parking bays are affected.

Balakong assemblyman Eddie Ng said although the idea to impose the parking fee was good to control traffic, the council was not ready to implement it.

He said there was no parking meter, no announcement of the agents selling parking coupons and most of the parking bays have to be repaired first.

He added that MPKj planned to turn the roads in Bandar Mahkota Cheras into one-way lane in a few months.

“It would be better if the parking charges are imposed after implementing the one-way lane system,” he added.

Ng also said that the agreement between the council and the parking company back in 2001 was lopsided.

“The agreement showed that almost 80% of the profit will go to the company which managed the parking bays.

“This is unfair because the council owns the land and have to face the wrath of residents who are against the parking charges,” he said during a press conference at his service centre in Balakong.

Ng added that the parking company had to pay RM15.29 per bay per month, while the parking rate was 50sen per hour.

“In a year, the company can make up to RM6.95mil profit while only RM1.19mil will go to MPKj,” he said, calling for an agreement that was fair to the council.

“I will write to the state government to review the agreement so that the profit-sharing ratio is balanced,” he said.

Gory find for students in Bangi

The Star, Thursday July 30, 2015

SHAH ALAM: The decomposing body of a man believed to be Indonesian was found on the bank of a river in Bandar Baru Bangi.

The body, with a 150cm long rope wrapped around its neck, was found by a group of students at 4.45pm yesterday.

The students who were playing football at a nearby field found the body after investigating a stench.

Kajang OCPD Asst Comm Willey Richard said the man was fully clothed and a money bag was found in his pants pocket.

Also on him was an Indonesian identification card belonging to Fatim Taufik.

“We have sent the body to the Serdang hospital for a post-mortem, and it has been determined that the victim was strangled to death,” he said.

Police are investigating the motive for the murder.

Hunt on for family of bandits

The Star, Saturday July 11, 2015

by natasha joibi

KAJANG: A family of bandits have been robbing indiscriminately around Kajang, terrorising even factory workers, to get money for their drug fix.

Kajang OCPD Asst Comm Willey Richard said the family comprised two brothers and four male cousins who have been in and out of jail for robbery, violence and drug-related crimes. They are between 25 and 35 years old.

One of them was identified as ‘Jimi Boy’, a drug leader, who tried to ram into police officers with his vehicle during a narcotics raid at a hut about 10km from Kampung Seberang Paya, Dusun Tua, Hulu Langat in April.

Police retaliated by shooting him in the leg, but the 35-year-old murder suspect escaped, he added.

ACP Willey said three months later, Jimi Boy was still at large and terrorising folks around Kajang with his family members.

In the latest crime spree, the family had allegedly ambushed a factory worker at his house in Balakong.

ACP Willey said three family members including Jimi Boy and his younger brother ‘Harry’, were suspected of breaking in around 6am.

“One of them held a parang to the 21-year-old’s victim’s neck, while the other two ransacked the house.”

“These are violent men. They do not care who their victims are.”

ACP Willey said the police ­arrested Harry, 34, at a nearby hotel at around 1pm on Thursday.

“He was high on Ecstasy when we arrested him. We found out from him that Jimi Boy was still alive.”

Harry was released from jail about a month ago. He was arrested seven times for robbery, twice for drug-related crimes and once for causing hurt to others.

He was also exiled twice from the district for drug-related offences.

ACP Willey said the police are also hunting down Harry’s cousin, referred to as ‘Jai’, on suspicion of assaulting a Bangladeshi worker at Batu 10, Cheras at about 11.20pm on Wednesday.