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Free lifts for Villa Yarl buyers

UOA Holdings Sdn Bhd is offering free lift installation or a full ID package to buyers of its Villa Yarl bungalows in Overseas Union Garden (OUG), Old Klang Road, Kuala Lumpur, for a limited time. These two packages come at no extra cost and will be offered from this weekend onwards in conjunction with the project's sales launch.


The 19 units of exclusive bungalows in Villa Yarl

UOA marketing and sales general manager Teh Heng Chong said 50% of the units have been sold since the soft launch three months ago.

“Following feedback from customers, we are providing individual lifts to the units to cater for the elderly who visit or live in Villa Yarl while the full ID package would appeal to the younger generation,” Teh told PropertyPlus.

Villa Yarl comprises 19 units of luxurious boutique bungalows in a 2-acre gated and guarded freehold development with condominium facilities. Each strata-titled unit, priced from RM2.3 million, has built-ups of 6,000 sq ft onwards and land areas from 2,697 sq ft to 4,859 sq ft. The project has a gross development value (GDV) of RM46 million.

Teh said prices for traditional semi-dee units range between RM1.4 million and RM1.6 million while bungalows are priced from RM1.8 million to RM2 million in the OUG area. “At a slightly higher price, one would be able to own a 3-storey bungalow with 5 + 1 bedrooms in Villa Yarl, without having to worry about the safety of the home when they are travelling outstation or
overseas,” he added.

The project is based on the build-then sell (BTS) concept. Teh said buyers would be able to see for themselves what they would be getting while saving them the interest incurred during construction. “At our end, the group would also be able to sell the product based on the current market price, which is about 10% to 20% premium, compared to selling it prior to construction,”
he added.

UOA’s current ongoing projects include Prima Setapak II in Setapak, Plaza Menjalara in Kepong and Halimahton in OUG. Future projects for the group include Menara UOA Bangsar and Bangsar South City.

By theSun (by Yap Yew Jin)

FECIL to expand hotel operations

Hong Kong developer Far East Consortium International Limited (FECIL) may expand its hotel operations to other countries in Southeast Asia. FECIL owns and manages several 4- and 5-star hotels in Malaysia under the Dorsett Hotels & Resorts International group.

FECIL Malaysia representative Eddie Tang said it would be interested in Thailand, Vietnam and Singapore. “While that may be in the pipeline, we are still keen to expand our operations in Malaysia, particularly in Kuching and Kota Kinabalu as well as the east coast of Peninsular Malaysia,” he told reporters after announcing the takeover and renaming of the 5-star Sheraton Labuan to Grand Dorsett Labuan Hotel Malaysia.

For its operations in Malaysia, he said it would concentrate on growing its 5-star Grand Dorsett brand and may even look into resort operations in the east coast.


Tang: Value of FECIL's hotels in Malaysia is RM800 million

“Up to 10 years ago, we only had a 4- star hotel in Malaysia, which is the Dorsett Regency Hotel Kuala Lumpur along Jalan Imbi. However, by 2008, we will have five hotels under our stable,
including the 4- star Maytower Hotel Serviced Apartment in KL that will be handed over next
month and the Dorsett Johor Hotel & Serviced Apartment that will be completed by January,” he added.

FECIL recently completed the purchase of the Grand Dorsett Labuan for RM32 million from Jeram Bintang Sdn Bhd through Faber Group Bhd’s restructuring scheme. It also owns the 5-star Sheraton Subang Hotel and Towers which was also acquired from Jeram Bintang for RM120 million earlier this year.

According to FECIL, the value of its hotels in Malaysia amounts to some RM800 million.

By theSun (by Loo Pik Kwan)

Gadang planning high-end homes in Penang

Gadang Holdings Bhd (Gadang) plans to launch its first project in Penang — a 10-acre high-end residential development in Tanjung Bungah — by 2009. The RM120 million project is awaiting approval from the authorities, said its executive director, Ling Hock Hing, after the group's AGM yesterday.


Ling: RM120 million project awaiting approval

Ling said there will be less than 60 units of bungalows and semidees with prices between RM2.5 million and RM3 million for the bungalows and RM1.6 million onwards for the semidees.

Another project that is pending approval is a mixed development in Shah Alam comprising shop offices and serviced apartments. It has an estimated gross development value (GDV) of between RM90 million and RM100 million.

Meanwhile, Gadang expects to be busy next year with its ongoing Taman Seri Bukit Segambut project in Segambut, Kuala Lumpur, and the launch of a mixed development project in Tampoi, Johor, by the first half of next year.

On Taman Seri Bukit Segambut, Ling said interest in the project has been growing since its soft launch in July. The RM41 million development offers 54 units of 3-storey terraced homes priced from RM688,800. Construction has reached 25% and the developer hopes to complete its show unit by the first quarter of next year. To date, 5% of the units have been taken up; Gadang expects sales to touch 50% once the project is officially launched early next year.

“There has been a lot of interest in the project but buyers, mainly from the surrounding areas, want to view a show unit before making any purchases,” he said.

Gadang is looking at increasing the pricing possibly by 10% to 15% after the show unit is ready next year.

On Tampoi, Ling said construction should begin next month. The first phase of the project will comprise 40 units of shop offices and 512 units of serviced apartments with a GDV of RM90 million, taking 3.8 acres of the total 20 acres.

Other projects planned include a 50-acre mixed development in Kuang, Selangor.
The first phase is targeted for launch by 2009.

The developer is also looking at venturing overseas. Currently, Gadang is bidding for several plots of land in Vietnam. The group is looking into turning one of the plots of land, measuring 49.42 acres, into a mixed development. Most of the projects would be joint ventures with the Vietnam government, said Ling.

Gadang has an existing landbank of 120 acres in Malaysia with a GDV of RM600 million. Property development contributes 45% to 55% to the group’s revenue.

By theSun (by Yeong Ee-Wah)

RM1 billion projects in hand for PJ Development

Property development will remain PJ Development Holdings Bhd’s core business with ongoing and future projects for the next two to three years amounting to over RM1 billion, said its managing director, Wong Ah Chiew (pix).



One of its “exciting” projects is the 27-storey office tower along Jalan Tun Razak, he said after the group’s 42nd annual general meeting yesterday, Wong said the group had completed the purchase of the project, which was abandoned by its previous owner earlier this year. Plans have been modified and it will be a modern contemporary tower with a gross retail and office space of 550,000 sq ft and a projected gross development value of RM200 million.

“We are in talks with local and foreign investors who are keen on purchasing en bloc. We expect to finalise the deal within a few months,” he added.


Artist's impression of PJ Development's fl agship project, Duta Kingsbury

PJ Development’s flagship project of Duta Kingsbury is scheduled to be unveiled early next year. The RM300 million gated and guarded project is on a 10.17-acre freehold tract in Sri Hartamas, Kuala Lumpur. It will have 64 units of 3-storey superlink homes and 210 condo units with prices from RM600 psf.

In January next year, the developer will launch the RM250 million Swiss- Garden Residences in Jalan Galloway, KL. This development comprises two 36- storey towers with 413 designer service suites. The project is adjacent to the group’s Swiss-Garden Hotel.

Other upcoming launches are the RM150 million Mont Callista in Taman Universiti, Johor; the third phase of Bukit Istana in Kuantan, Pahang; Sea View Tower in Harbour Place, Butterworth; and the group’s first build-thensell project at the high-end Siarah Oakleaf in Bukit Antarabangsa, KL.

Meanwhile, Block A of the RM158 million Impian Meridian in USJ, Subang Jaya, has been 90% sold since its April launch. Block B, which was recently put on the market, has registered sales of 20%. The project comprises of 596 units of residence suites, office suites and commercial shops.

On foreign ventures, Wong said efforts are continuing to break into the Vietnam market. The group is also in talks with landowners for joint-venture development of a medium-range project in Bangkok, Thailand.

The group has a landbank of over 1,600 acres in the Klang Valley, Penang, Pahang and Johor.

For the financial year ended June 2007, the group registered a 12.6% rise in turnover to RM549.4 million from 2006’s RM487.8 million.

By theSun (by Allison Lee)

Ipoh's first Garden Township

Kinta Properties CEO Dr Tan Chin Yong talks about its RM1.3 billion development

Low cost of living, slow-paced quality lifestyle and affordable housing are some of the factors that are drawing locals and foreigners alike to set up home in the former tin mining town of Ipoh.

Local property players such as Taiko Properties and Keris Properties are being joined by developers from other states, including MK Land Holdings Bhd and Sunway City Group (Suncity), who are looking to capitalise on the untapped potential of the area.

Although some of the developers are sticking to building small townships and niche projects
consisting mainly of 2-storey terraces homes, there are also those who are a bit more adventurous and creative.


Bandar Baru Sri Klebang's show village

One of the local property players is Kinta Properties Group, with its latest township project, Bandar Baru Sri Klebang (BBSK). Touted as Ipoh’s first eco-city garden-themed
township, it incorporates spacious homes amidst a landscape of lush gardens and natural greenery.

Its chief executive officer, Dr Tan Chin Yong (pix), tells PropertyPlus about 30% of the 650-acre freehold township has been completed with 836 homes already handed over since the first launch in 2001. It is expected to be completed in 2015 with a gross development value (GDV) of RM1.3 billion.




“Our properties in BBSK are targeted at the medium- to high-end market as there are very few choices for Ipoh residents when it comes to high-end homes,” he says, adding that most local developers there seem to focus on small-scale terraced housing projects.

According to him, 60% of the buyers are local families and upgraders while 40% are from the outstation and overseas market. “Twenty per cent of our buyers are foreigners, who are
either under the Malaysia My Second Home (MM2H) programme or have family ties in Ipoh.

More than 50% of the self-integrated BBSK has been allocated for detached and link bungalow development while the remainder comprises of terraced homes and shoplots. The township also
has 85 lots of bungalow land, averaging 8,000 sq ft in size, which have been fully sold out.

“The aim is to create an enviable bungalow community with ample parks and open spaces, so that the area has an excellent upside potential in the future,” Tan says.

BBSK is located along the Jalan Kuala Kangsar trunkroad that links Ipoh to other townships in the north. It is only 5km away from the PLUS Highway Jelapang Toll and 15 minutes from the city centre. The area is recognised as the second fastest growing corridor outside Ipoh by the Ipoh Municipal Council.

The developer has a track record of more than 30 years, with the establishment of communities such as Meru Valley Resort, First Garden, and Taman Perpaduan Jaya in Ipoh as well as projects in Alor Gajah and Melaka Tengah, Melaka.

Tan says there are good prospects in the Perak property market, despite the rise in material and fuel cost and drop in public disposable income.

“There is big potential in the MM2H programme in Ipoh, as many (foreigners) prefer the quiet lifestyle that the city offers,” he says, adding that Perak is strategically located between Kuala Lumpur and Penang and accessibility to the state would be made easier with the expansion of the Ipoh Airport.

Tan says property prices in Perak are steadily going up. “When our first phase of 2-storey detached homes were launched in 2002, they were priced at RM268,800. Today, we are pricing our detached homes at between RM400,000 to RM550,000,” he says.

Garden theme
To live up to its name as Ipoh’s first eco-city garden-themed township, the developer is in the midst of planning a riverside forest, where residents can walk under canopies of tropical
trees and enjoy a stroll along a river, which runs through the township.

Tan says BBSK’s show village was opened in 2005 to help educate the public on the importance of sustainable development and becoming a permanent exhibition of an example of an eco-village.

“The purpose (of the show village) was to help instil a feeling of civic mindedness within the public to create a green environment by planting more trees in their homes and to bring nature back to housing communities,” he says.

Kinta Properties is also looking at the option of using eco-friendly building materials and methods for the construction of the residential clubhouse and future phases in the township.

“The clubhouse will feature open, insular and shady design with overhangs, solar power energy, and built-in catchments of rainwater for various uses,” he says. The clubhouse currently has a driving range and tennis court but the second phase, comprising a swimming pool, gym, café, and multipurpose hall, will be completed in 2009.

The group’s latest launch in the township is Parklane Residences, which consists of 62 units of 2-storey bungalows with built-ups of 2,978 sq ft onwards, with prices starting from RM419,800. “About 50% of the units have been sold to date since they were launched in February this year,”
Tan says.

Future launches in the township for next year include 2- and 2 ½- storey link houses and 2-storey link bungalows. The link houses have built-ups ranging from 1,850 sq ft to 2,850 sq ft while the link bungalows have average built-ups of 3,050 sq ft.

Tan says prices for those properties have yet to be determined but adds that they would be generally valued at about 10% to 15% higher than the current phases. Terraced units in BBSK
are currently priced from RM163,800, while semi-dees are priced at RM299,800 onwards.

Kinta EcoCity Sdn Bhd (formerly known as AMZ Corporation Sdn Bhd) was incorporated in 1980 to develop 876 acres of land in the Klebang estate near Ipoh, Perak. The project, however, did not take off under the former shareholders, and in late 1996, the Kinta Properties Group took control of Kinta EcoCity.

In 2001, 200 acres of the project’s landbank was sold to the MK Land group, which is now in the process of developing terraced houses as well as shoplots in its township called Klebang Putra. MK Land has also built a community clubhouse in its vicinity.

The balance 676 acres is being developed into BBSK, which comprises the elements of a mixed-eco-township featuring detached, semi-detached and terraced homes amidst parks and gardens, with amenities such as shops, a public driving range, a proposed clubhouse, and a
proposed commercial centre.

The main commercial feature in the master plan comprises a new commercial centre modelled after the Greentown Business Centre in Ipoh. This proposed business centre will house
a shopping centre, an entertainment and international food centre, and shop offices.

The developer has also recently donated 13 acres of land to Poi Lam primary and secondary schools, whereby the schools will be relocated into BBSK within five years. A second reserve of 15 acres has also been allocated jointly with MK Land for a government school in the future.

By theSun (by Yap Yew Jin)

Setia Eco Gardens sales brisk

JOHOR BARU: Setia Eco Gardens, Johor's first nature-inspired township project developed by SP Setia Bhd, is enjoying brisk sales since its soft launch last month.

SP Setia subsidiary Kesas Kenangan Sdn Bhd deputy general manager Saniman Md Apandi said most of the buyers were Malaysians working in Singapore.

He said the project's location along Jalan Ulu Choh-Gelang Patah and about 22km to Singapore via the Second Link crossing was the main attraction to these buyers.

“The recent opening of the Pontian Link makes travelling easier for motorists to get to the site from Singapore using the Second Link,” he told StarBiz at the soft launch of Setia Eco Gardens show village.


Saniman Md Apandi showing the single-storey show house

The official ground breaking ceremony for the project is next month. In the offing are 1,200 single- and double-storey link houses.

Prices start from RM183,000 and RM249,000 per unit for the single-storey and double-storey houses respectively.

The 0.8ha show village features 12 types of show houses, of which six are offered under phase one and the balance for future launches.

“SP Setia was the first property developer in Johor to introduce the show village concept at our Bukit Indah project and buyers like it,” said Saniman.

Spanning 383.64ha within the Iskandar Development Region, the project will take about eight years to develop and will have between 10,000 and 12,000 residential and commercial properties with 60,000 residents when completed.

The company is allocating RM50mil for landscaping works on Setia Eco Gardens and the project is expected to generate some RM2bil in gross development value.

SP Setia holds 70% stake in Kesas Kenangan while Gan Theng Plantations, which was the landowner of the project site, holds 30% equity.

By The Star (By Zazali Musa)

Three projects by PJ Development

KUALA LUMPUR: PJ Development Holdings Bhd (PJD) plans to launch three projects by June 30.

Managing director Wong Ah Chiew said the projects were Swiss Garden Residence in Jalan Galloway and Siarah Oakleaf in Bukit Antarabangsa, both in Kuala Lumpur and Mont' Callista in Pulai, Johor.


Wong Ah Chiew

“We are mainly focusing on property development in the high-growth areas of Johor, Kuala Lumpur and Penang, as well as the east coast,” Wong said after the company's AGM yesterday.

The high-end Swiss Garden Residence would most likely be launched in January. The serviced apartments with an estimated gross development value (GDV) of RM250mil will consist of two towers. The 33-storey Tower A will offer 227 units and the 37-storey Tower B, 251 units.

PJD will also launch the Siarah Oakleaf within the next six months. The project has an estimated GDV of RM30mil.

The Johor project is a gated and guarded community of 192 three-storey semi-detached houses with a total GDV of RM150mil.

“Prospects for the current year (ending June 30, 2008) are very good due to our ongoing projects as well as high demand for electrical cables,” Wong said.

PJD has a capacity for RM200mil–RM300mil worth of “Olympic cable” a year at its plant in Malacca. The capacity would be increased by about RM15mil with the opening of the first phase of PJD's new factory in Vietnam by January, Wong said, adding that it involved an investment of RM20mil to RM30mil.

PJD has planned for two more phases of electrical cable manufacturing facilities on the 10-acre site in Vietnam.

The company's construction division, meanwhile, has RM800mil projects in-hand in Malaysia and Thailand.

On PJD's hotel division, Wong said the sector had improved in recent years in terms of both room rates and occupancy.

By The Star

PJ Development to launch RM430m property projects

KUALA LUMPUR: PJ Development Holdings Bhd, which reported a 122% increase in first quarter net profit of RM14.27 million, announced plans to launch three property projects with total gross development value (GDV) of over RM430 million.

Managing director Wong Ah Chiew said yesterday the projects were the RM250 million Swiss Garden Residences, RM150 million Laman Callista project and the Siarah Oakleaf valued at RM30 million.

“The high-end Swiss Garden Residences in Kuala Lumpur is expected to be launched in January next year and scheduled to be completed by 2010. Pre-tax profit margin is expected at 25%,” he said after its AGM where shareholders approved a resolution to nominate BDO Binder as auditors to replace the retiring auditors, KPMG.

Wong said the twin tower 36-storey development comprised 413 designer service suites which would be built next to the Swiss Garden Hotel in Kuala Lumpur.

The luxury Siarah Oakleaf, with a GDV of RM30 million, would be built in Bukit Antarabangsa on a 2.68 acre site with the soft launch scheduled in December.

The Laman Callista project, a gated community of 192 semi-detached homes, will be built on 35 acres of land in Taman Universiti, Pulai, Johor. Its launch is scheduled in the fourth quarter of its financial year 2008.

Wong said PJ Development’s hotels and leisure division, under the Swiss Garden brand name, had recorded improvements in hotel rates and occupancy rates. “The occupancy rate at the hotels ranges from 60% to 80%,” he said.

By The EDGE MALAYSIA

Gadang bullish on winning 3 deals

Gadang Holdings Bhd, a construction and property firm, is confident that it could clinch three major projects that could triple its order book to RM1.5 billion.

It is likely to find out its fate on these projects next month, said Gadang managing director and chief executive officer Datuk Kok Onn.

They are a RM500 million new administrative office for a government ministry, the RM300 million Cheras Rehabilitation Hospital and the RM200 million sewerage plant in Batu Berendam, Malacca.

"We are quite bullish on the prospects for these contracts," he told reporters after a shareholders' meeting in Bandar Sri Damansara yesterday.

Kok said the RM280 million contract awarded to Gadang to build the Kemuning-Shah Alam highway would also help lift earnings in the current financial year until 2009.

For the year to May 31 2007, Gadang's net profit jumped 22 per cent to RM14.5 million while revenue was up 21.8 per cent to RM226 million.

Gadang has so far bid for more than RM1.5 billion worth of government jobs and private sector contracts.

Meanwhile, it is expected to win a contract worth more than RM100 million to build a reservoir in China.

If awarded, it will be its first contract in China.

The company - which has RM200 million worth of ongoing housing and commercial projects, half of which are unbilled sales - is also bullish on prospects for the property sector.

By the first quarter of next year, Gadang plans to launch RM100 million worth of new property projects in Klang Valley, where it has 40 hectares left.

By New Straits Times (By Sharen Kaur)

IJM Properties unveils RM6.5b Penang waterfront project

IJM Properties Sdn Bhd is set to transform Penang into a world class economic and residential hub with the unveiling of its project, The Light Waterfront Penang.

IJM Corp Bhd chief executive officer/managing director Datuk Krishnan Tan said the RM6.5 billion mixed residential and commercial development is the island’s first integrated waterfront city and would be built on part of the 137 hectares of reclaimed land along Penang’s eastern coastline.

“The Light will feature 62ha of breathtaking development on the reclaimed land and will be developed in three phases,” he said at ceremony to unveil the project in Penang today.

Under phase one, covering 17ha, six parcels of high-end waterfront residences, comprising 1,186 units, would be developed.

“The development is expected to be completed in three to five years,” he said.

Tan said under phase two, a commercial and retail city, comprising Gateway Towers, hotels, signature offices, showrooms, banquet and conference facilities, cultural hall, visitor centre and waterfront amphitheatre would be developed on 41.7ha.

“One unique feature of the city is the floating stage and a floating restaurant. The entire city will also be interconnected by water taxis,” he said.

He said The Light would also feature three ha of seafront park under phase three of the development.

Tan said the project, which will developed by IJM Properties Sdn Bhd’s subsidiary, Jelutong Development Sdn Bhd, is expected to be completed in 2017.

“Land reclamation is in progress and construction will start by the end of next year,” he said.

By Bernama

Bolton hopes to rake in RM60m from The Wharf

Property developer Bolton Bhd expects gross profits of RM60 million for two phases of its commercial development project, The Wharf, in Puchong's Taman Tasik Prima.

The Wharf, with a gross development value of RM200 million, is a 7.29ha lakefront retail centre with three dedicated business zones - Biz Hub, The Avenue and Piazza - set to be completed by 2011.

Wong: The shop-offices are suitable for corporate offices, restaurants, boutiques and showrooms

Bolton chief operating officer Chan Wong Kwong said the profits would come from Biz Hub and The Avenue.

Biz Hub, the first zone to be launched, had more than 75 per cent of its three blocks of shop offices taken up within three weeks of its sales launch.

"We are expecting a profit margin of more than 30 per cent for the Biz Hub," said Chan during a press conference in Puchong yesterday.

Biz Hub comprises 22 en-bloc shop offices and 54 strata office units.

A block of shop offices are priced between RM816,000 and RM2.7 million whereas office units are priced between RM100,000 and RM180,000.

"With double frontage, the shop-offices are suitable for corporate office, restaurants, boutiques and showrooms," said Chan.

The Avenue, the showroom and service hub, to be launched in 2008, will offer larger commercial plots ranging from 3,200 sq ft to 0.81ha.

"There will be 20 lots, and buyers can choose to purchase the lot and design the buildings on their own, or have the developer build it for them," he said.

Piazza is a pedestrian-only retail centre made up of two to four-storey retail lots fronting the lake.

The retail village will have promenades, boulevards, semi-enclosed pedestrian-only streetscape and an event park with an entertainment-cum-exhibition squ-are.

"The Piazza will remain under our management. We will not sell it because we want to be able to control the tenant mix," he said.

Chan added that there will be a small office home office block and a neighbourhood supermarket in the Piazza.

He also projected a 10 per cent rental yield based on rental of between RM2 and RM4 per sq ft of retail space.

Chan said The Wharf had a ready catchment of customers with over 10,000 residents in the Taman Tasik Prima township and 80,000 more in the immediate surrounding areas.

"The customer base in Puchong is expected to grow to half a million by 2010 and this is yet another attractive proposition for buyers and potential buyers," said Chan.

In addition to The Wharf, a total of 2,300 units of double-storey terrace and semi-detached houses, waterfront bungalows, apartments and condominiums and shop offices will be built in this multi-phased development.

Currently, 800 residential units have been sold for a value of RM280 million.

Taman Tasik Prima is being developed by Prima Nova Harta Development Sdn Bhd, a joint venture between Bolton Bhd and Prima Nova Group.

By New Straits Times (By Jeeva Arulampalam)

Paos gets go-ahead to invest in properties

The move to invest in property was an opportunity that Malaysia's largest soapmaker, Paos Holdings Bhd, could not pass up, a director said.

"It was a rare opportunity which we cannot turn down as the property in this location is experiencing rising demand for office space," executive director Lim Poh Seong said.

Yesterday, its shareholders agreed to let Paos buy Komplex Selangor, Hotel Furama and a single-level basement car park for RM48 million.

These two buildings are located along Kuala Lumpur's Jalan Sultan, is in the Bukit Bintang area.

Komplex Selangor comprises a three-storey retail podium, a 13-storey office block and retail lots.

Having ceased operations in 2005, the 30-year-old Hotel Furama consists of 101 guest rooms, a function room and cafeteria.

"This is not a move away from our core business in contract manufacturing, it is a move to diversify earnings."

Asked if there are plans to refurbish and reopen Hotel Furama, he replied, "The current rental yield of office space and retail lots is close to four per cent.

"We have plans to improve yield to seven per cent. This sale and purchase deal will be completed by March next year and we'll need to refurbish the budget hotel. Therefore, the earliest the hotel can re-open for business would be in 2009," he added.

Lim was speaking to reporters after the company's shareholders meeting held in Petaling Jaya yesterday.

Also present at the press conference were executive directors Lim Chang Ching and Alice Boo Miau Li.

On Paos' core business in contract manufacturing for Johnson & Johnson Pte Ltd, Kao Corp of Japan and Reckitt Benckiser, Lim said the group wants to offer similar services to other multinational companies.

Paos, set up in 1987, has two factories - soap production and oil packaging - are carried out at a 2.43ha facility in Shah Alam, while specialty fats and animal feeds are produced at its 1.22ha plant in Banting, Selangor.

In view of rising fuel and raw material prices, Lim is cautiously optimistic of the prospects for Paos next year.

By New Straits Times (By Ooi Tee Ching)