OSK Holdings / Ong Leong Huat

Re: OSK Holdings / Ong Leong Huat

Postby winston » Wed Apr 12, 2017 8:48 am

Shahril: EPF takes long-term view on property ventures

BY EUGENE MAHALINGAM

EPF chief executive officer Datuk Shahril Ridza Ridzuan said the project would span over 15 years.


Last week, the provident fund announced that is paying A$154mil (RM500mil) for a 49% stake in Yarra Park City Pty Ltd (YPC), which holds the rights to a five-acre mixed-use development worth over RM9bil in Melbourne.

The remaining 51% interest in YPC is held by PJ Development Holdings Bhd (PJD), which is a subsidiary of OSK.


Source: The Star

http://www.thestar.com.my/business/busi ... -ventures/
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Thu Apr 20, 2017 8:11 am

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OSK makes Ong new chairman

KUALA LUMPUR: OSK Holdings Bhd has appointed Tan Sri Ong Leong Huat as its new executive chairman.

In a statement, OSK said Ong, who previously served as chief executive officer and group managing director, succeeded Datuk Nik Mohamed Din Nik Yusoff, who retired yesterday.

Concurrently, OSK also appointed Ong Ju Yan as group managing director and Ong Ju Xing as deputy group managing director. Both Ju Yan and Ju Xing are sons of Ong Leong Huat.

The new top management line-up would be responsible for leading the company through its next phase of growth.

Source: Bernama
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Thu Apr 20, 2017 8:11 am

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OSK makes Ong new chairman

KUALA LUMPUR: OSK Holdings Bhd has appointed Tan Sri Ong Leong Huat as its new executive chairman.

In a statement, OSK said Ong, who previously served as chief executive officer and group managing director, succeeded Datuk Nik Mohamed Din Nik Yusoff, who retired yesterday.

Concurrently, OSK also appointed Ong Ju Yan as group managing director and Ong Ju Xing as deputy group managing director. Both Ju Yan and Ju Xing are sons of Ong Leong Huat.

The new top management line-up would be responsible for leading the company through its next phase of growth.

Source: Bernama
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Wed May 17, 2017 9:38 pm

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OSK to preview Melbourne Square in Malaysia early June

by Rachel Chew

MELBOURNE (May 17): OSK Property Holdings Bhd plans to have the Malaysian preview of its first project in Melbourne, Australia by early June.

The first phase of Melbourne Square consists of two residential towers with a retail podium and a public park of about an acre.

The first tower — East Tower — has already been soft-launched in private previews in Australia since early last month.

The preview in Malaysia slated for June 3 and 4 at Grand Hyatt Kuala Lumpur will see the second tower — West Tower — open for sales.

“We are targeting mostly international buyersat the moment. The project has been well received, as about 60% of 566 units in East Tower have been taken up,” said Yarra Park City Pty Ltd (a member of OSK Holdings Bhd) project manager Ding Say Aun during a media visit to OSK Property’s office in Melbourne on Monday.

East Tower offers 69 floors, including seven floors of retail and carpark. The eight floor and 54th floor will be the facilities floors, while the remaining floors will house the 566 apartment and penthouse units with built-ups ranging from 49.4 sq m to 316.8 sq m (531 sq ft to 3,409 sq ft). Prices range from A$401,200 to A$5.8 million (RM1.29 million to RM18.64 million), or an average of A$11,000 per sq m.

“Malaysia will be the first overseas market to preview Melbourne Square,” said Ding, adding that there will be an early-bird discount for those who book their units early.

West Tower features 386 apartment and penthouse units, as well as 91 podium apartment units. They have built-ups from 49.6 sq m to 262.2 sq m (531 sq ft to 2,821 sq ft).

Only units with three bedrooms and above will be allocated up to two carpark bays. Among the facilities for residents of Melbourne Square are a games room, sauna, yoga studio, gym, swimming pool, golf simulator, music room, cinema, lounge and private dining room. The annual maintenance fee for the apartment units will be from A$1,500 to A$4,000.

The five-acre freehold Melbourne Square lies at the junction of Power Street and Kavanagh Street. The entire development has a gross development value of RM9 billion and consists of four residential blocks, one office tower and one hotel, to be developed over five phases in eight years.

“The project has been approved for the building of six towers with a total gross floor area (GFA) of 380,000 sq m (4.8 million sq ft). We have the flexibility to adjust future launches, built-up and design, according to market needs in the future.

For example, if office space is not in demand in the future, we can always shift the GFA allocated to the office block to another component such as the hotel or residential,” Ding explained.

He also revealed that the team is currently in discussions with several international hoteliers on the hotel component.

“Rather than a normal hotel, we are exploring offering serviced suites with minimum days of stay. This is not common in Melbourne where serviced suites can be rented by the day. By restricting the minimum stay period, it will help ensure occupancy,” Ding said.

The developer also hopes to introduce a public park for residents in the established Southbank precinct. “What’s missing here is the green space. This is why we plan to have a park for Melbournians to enjoy,” he said.

As for the retail component, the developer will keep the retail lots for now. “We will bring in a full-scale supermarket and childcare centre, because there are none in the vicinity,” offered Ding.

Mebourne Square is slated to be officially launched in Melbourne by early September, with construction expected to begin by the third quarter of this year.

OSK Property acquired the project site via Yarra Park City two and half years ago for A$145 million. Last month, Malaysia’s Employees Provident Fund (EPF) announced that it is taking up a 49% stake in Yarra Park City for A$154 million.

Meanwhile, OSK Group deputy group managing director Ong Ju Xing said that as OSK Property’s maiden foray into Australia, Melbourne Square showcases its commitment to build “high-quality liveable residential apartments, engaging public realms, and comprehensive retail and commercial developments that will enhance the value of the community”.

“Apart from providing better living environments in Southbank, we are thrilled to partner with EPF on this transformative project, which will revitalise Southbank through the planned community infrastructure, making Melbourne Square the heart of a vibrant community,” said Ong.

Source: The Edge

http://www.theedgemarkets.com/article/o ... early-june
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Fri Jun 02, 2017 8:28 am

OSK Property to preview Melbourne Square in KL

OSK Property through its latest development, Melbourne Square – a mixed-use vertical development in Southbank – is set to woo buyers at the preview of Phase 1 of Melbourne’s single largest integrated development of its kind this month in Kuala Lumpur.

The preview will also see a new tower – West Tower – open for sale.

Located at a prime position in Southbank, the iconic RM9bil development comprises six towers clustered around an impressive 3,700 sq m network of green spaces.

Bounded by the Westgate Freeway and Kavanagh, Balston and Power Streets, Melbourne Square is a few minutes’ walk away from Crown Melbourne and the arts precinct as well as a train stop away from the CBD.

Master-planned by Professor Philip Cox, Melbourne Square’s expansive network of elevated gardens and parks, designed by Taylor Cullity Lethlean, together with its mix of amenities and convenient location will not only complement the lifestyle of the people in Southbank but will transform the city’s skyline.

The end goal is to create a sustainable community where people live, work and relax. OSK Group deputy group managing director Ong Ju Xing said the preview will mark Melbourne Square as an important destination within the world’s most liveable city.

“Melbourne Square represents OSK Property’s vision as one of Malaysia’s leading property developers in paving the way for a mixed-use placemaking community development.

As OSK’s maiden foray into the Australian property market, Melbourne Square showcases our commitment to build high quality livable residential apartments, engaging public realm, and comprehensive set of retail and commercial developments that will enhance the value of the community.

“Apart from providing better living environments for Southbank’s future, we are thrilled to partner with EPF on this transformative project, which will revitalise Southbank through the planned community infrastructure, making Melbourne Square the heart of a vibrant community,” he said.

Phase 1 of Melbourne Square comprises two elliptical designer residential towers (East Tower and West Tower) delivering 1,043 apartments defined by their shimmering pleated facades, as well as essential amenities including a beautiful urban park, a large format supermarket, a childcare facility, restaurants and cafés, and a comprehensive set of residential amenities.

Future stages will feature a hotel, commercial office tower and apartments within a generous 5-acre space.

OSK Property has appointed a list of top tier consultants for the project, including multiple award-winning Cox Architects to design the master plan and Stage One of the project, Carr Design for interior design services, Sinclair Brook for project management and CBRE as the sales agent for Stage One.

The project is now brought to Malaysian shores and will be soft-launched on June 3 and 4 from 10am-6pm at Grand Hyatt Kuala Lumpur.

Prices starts from A$401,200 for a one-bedroom unit. Variety of layouts are available with sizes ranging from 49.4 sq m to 316.8 sq m.

Source: The Star

http://www.thestar.com.my/business/busi ... fzwOous.99
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Wed Aug 23, 2017 4:22 pm

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OSK Holdings plans one-for-two bonus issue

by Sulhi Azman

KUALA LUMPUR (Aug 22): OSK Holdings Bhd has proposed to issue up to 820.31 million bonus shares to reward its shareholders, while expanding its share base.

OSK, which has interest in property development, financial services, construction and hospitality, said the latest corporate plan will see its shareholders receiving one bonus share for every two existing shares at a date to be determined later.

"The board, having considered all aspects, is of the opinion that the proposed bonus issue is in the best interest of the company," OSK, which owns and operates the Swiss Garden-branded hotels Malaysia and Australia, said in a filing with Bursa Malaysia today.

To complete the plan, OSK said it will obtain necessary approvals from Bursa Malaysia and its shareholders at a meeting to be convened later.

Advised by RHB Investment Bank Bhd, OSK — controlled by veteran stockbroker Tan Sri Ong Leong Huat — expects to complete the transaction by the fourth quarter of this year.

Shares in OSK, listed on the Main Market since 1991, rose 2 sen or 1.3% to close at RM1.56 today, valuing the diversified entity at RM2.19 billion.

Source: The Edge

http://www.theedgemarkets.com/article/o ... onus-issue
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Thu Aug 31, 2017 12:04 pm

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In Melbourne, the Victoria government has more than doubled stamp duty surcharge for foreign buyers to 7% from July 1.

The stamp duty concession for off-the-plan properties has also been removed, which will further increase taxes by about 5%.

Source: The Edge Properties
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Wed Oct 25, 2017 4:40 pm

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We refer to our earlier announcements dated 22 August 2017 and 2 October 2017.

On behalf of the Board of Directors of OSK ("Board"), RHB Investment Bank Berhad ("RHBIB") wishes to announce that Bursa Malaysia Securities Berhad ("Bursa Securities") had, vide its letter dated 11 October 2017 which was received on 12 October 2017, resolved to approve the listing and quotation of:-

i. Up to 820,311,770 Bonus Shares to be issued pursuant to the Proposed Bonus Issue;

ii. Up to 118,866,335 additional warrants 2015/2020 in OSK ("Warrants") to be issued pursuant to the adjustment arising from the Proposed Bonus Issue

iii. Up to 118,866,335 new OSK Shares to be issued arising from the exercise of the additional Warrants;

http://www.bursamalaysia.com/market/lis ... ts/5570921
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Thu Aug 02, 2018 8:15 am

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Australian housing downturn worsens

Australia’s property slump deepened in July, with housing prices falling the most in almost seven years, Bloomberg reports.

National dwelling values dropped by 0.6 percent last month -- the biggest fall since September 2011 -- as declines in Sydney and Melbourne accelerated, according to CoreLogic Inc data today.

Prices have now fallen for 10 straight months due to a combination of lending curbs, stretched affordability and reduced investor demand.

Rents declined by 0.2 percent last month, according to CoreLogic.

Melbourne emerged as the worst-performer. Prices fell last month by 0.9 percent compared with a 0.6 percent drop in Sydney.

Source: Bloomberg/The Standard
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Re: OSK Holdings / Ong Leong Huat

Postby winston » Thu Dec 15, 2022 6:20 pm

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HLIB starts coverage of OSK Holdings, target price at RM1.42

by Surin Murugiah

Strong property launch pipelines, stable loan growth in capital financing, capacity expansion and robust growth in industries as well as net interest margin expansion in RHB.

“We believe our valuation is on the conservative side, as even at our TP, this implies FY2022/2023/2024 P/E multiple of only 7.7x/6.9x/6.3x, which we deem to be undemanding given the group’s stable earnings profile and strong earnings quality.


Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... rice-rm142
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