The Star Online: Business
The Star Online: Business |
| McLaren confident on M’sian supercar market Posted: PETALING JAYA: The iconic British supercar brand McLaren is confident of making good headway in the local high-performance supercar market with its MP4-12C model. According to McLaren Kuala Lumpur brand director Eau Chian Boon, the company has received good response from potential customers pending the launch of the MP4-12C and McLaren flagship gallery in Mutiara Damansara next month. Sime Darby Auto Britannia is the sole distributor of McLaren cars in Malaysia and will market the brand as McLaren Kuala Lumpur. "Besides having race car-like performance, our cars also offer everyday drivability and comfort," he said at the special preview of the MP4-12C Coupe and Spider variants in Kota Damansara. The estimated retail price for the Coupe version is from RM2.1mil to RM2.2mil and the Spider somewhere from RM2.3mil to RM2.4mil. The MP4-12C is equipped with a 3.8-litre V8 turbo engine outputting 616bhp and has a top speed in the region of 330kph. The model is expected to mount a challenge to similar offerings from Ferrari and Lamborghini. McLaren, an outfit currently involved in Formula 1 racing, was formed 50 years ago by New Zealander racer and engineer Bruce McLaren. |
| Posted: PETALING JAYA: The Emkay Group is not ruling out the possibility of forming a real estate investment trust (REIT) sometime in the future. "If it is viable, then there is a possibility that we may form our own REIT," said founder and chairman Tan Sri Mustapha Kamal at a briefing on the commencement of works for Emkay's newest corporate office development, Mercu Mustapha Kamal. To-date, the group owns two Grade-A office towers – Wisma Mustapha Kamal in Cyberjaya and Menara Mustapha Kamal in Damansara Perdana. Once Mercu Mustapha Kamal is completed, the total value of the three office towers is expected to range between RM500mil and RM550mil. In the last five years, the company has completed more than RM2bil worth of projects. It has more than RM4bil worth of projects lined up for the next five years, of which RM3.7bil is located in Cyberjaya. Mercu Mustapha Kamal is Emkay's latest addition to its investment portfolio, with a gross development value of RM374mil. The development will comprise two corporate office towers with a total net floor area of 468,267 sq ft in NeoDamansara, Damansara Perdana. The project is expected to be completed by November 2016. Mustapha Kamal said the piling work for the development had already been completed. The project is pre-certified with a Green Building Index Gold rating and will be Multimedia Super Corridor (MSC) Malaysia Cybercentre-compliant once complete. The MSC Malaysia Cybercentre status is given by Science, Technology and Innovation Ministry to niche business locations that meet MSC Malaysia standards and criteria to deliver the MSC Malaysia Bill of Guarantees to MSC Malaysia-status companies. Chief executive officer Ahmad Khalif Mustapha believes the project will be successful due to its location. "Damansara Perdana as a location that has matured over the years. There are a few public-listed companies and multinational companies located here," he said. He added that concerns about a glut in office space as what Kuala Lumpur was now facing did not exist due to the high take-up rate in the area. He said most of the corporate office towers in Damansara Perdana were already reaching 90% occupancy rates. Meanwhile, Mustapha Kamal said the company was looking to have a sustainable source of income and planned to own seven Grade-A office buildings within the next five years, with at least one in the central business district of Kuala Lumpur. |
| Posted: PETALING JAYA: Shenzen-listed Xiamen Comfort Science & Technology Group Co Ltd, which has launched a takeover of low-profile Ogawa World Bhd, could be attracted to the company's strong balance sheet and growth potential. Xiamen Comfort had on Monday launched a takeover of Ogawa, one of Malaysia's largest players in the healthcare equipment sector, at RM1.05 cash a share for a total of RM126.2mil. Several shareholders who owned a combined 53.9% in Ogawa, or 64.62 million shares, have given their irrevocable undertakings to Xiamen Comfort to accept the offer, as Ogawa's share price has been in the doldrums. The RM1.05 offer was at a premium of 19 sen or 22.9% above Sept 6's closing price of 86 sen. Ogawa closed at RM1.01 with 537,900 shares being done yesterday. Ogawa has been in the market since 2001 and has spread its wings across Malaysia, Australia, Hong Kong, India, Indonesia, the Philippines and Singapore. Its earnings have been on an uptrend over the past three quarters. For its fourth quarter ended June 30, 2013, it posted a net profit of RM9.56mil on the back of RM78mil in revenue. Earnings per share was at 7.97 sen. Net profit was at RM2.9mil in the third quarter on the back of RM54.83mil in revenue, while in the second quarter, earnings came in at RM528,000 on revenue of RM45mil. The company's short-term deposits, cash and bank balances for the fourth quarter, meanwhile, stood at RM59.98mil, an increase from the RM45.73mil recorded a year ago. Xiamen Comfort could probably be attracted to Ogawa due to its improved earnings and healthy bank balances, which makes it a better option than its bigger counterpart, Singapore-based Osim International Ltd. Osim has a market capitalisation of S$1.4bil (RM3.63bil). At the last traded price of S$1.935, it was trading at a price to earnings (PE) of 15.02 times. In comparison, Ogawa's market capitalisation stands at RM121mil, and at the last traded price of RM1.01, it was trading at a PE of 8.49 times. Apart from Ogawa's takeover, Xiamen Comfort had, in April, bought over the trademark of FujiMedic, which is also involved in the medical equipment sector, for a total of RM220,000. |
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