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| Mah
Sing Group Berhad has diversified into property development activities
through its wholly-owned subsidiary, Mah Sing Properties Sdn Bhd ("MSP")
(formerly known as Desa Aktif Sdn Bhd) in early 1994. MSP acquired
a piece of land with combined total area of approximately 45 acres
in the Mukim of Ulu Yam, District of Hulu Selangor. MSP successfully
completed its maiden project i.e. Taman Desa Ulu Yam which comprised
of 536 units of low and medium cost houses and shophouse development
(Total Gross Development Value = RM21.5 million ) |
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| Mah
Sing Integrated Industrial Park ("MSIIP") - In
February 1994, MSP entered into a joint venture (JV) agreement with
Panasuria (M) Sdn Bhd ("PSB") to develop approximately 220 acres of
land in Bandar Pinggiran Subang in the Mukim of Sungai Buloh. Under
the JV, MSP has to fund the development of the land and share the
sales proceeds with PSB who remains as the land owner. The development
comprise a mix of low cost, medium cost and terrace residential, commercial
and industrial development. The project is still on-going. (Total
Gross Development Value = RM750 million) |
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| Mah
Sing Plastics Industries (MSPI) land - MSPI acquired
an 82 acre piece of land from PSB in 1994. 25 acre of the land was
for the construction of MSPI's factory and worker's dormitory complex.
The balance of 57 acres will be utilized for sale and development
of industrial lots and bungalow factories. As the land is situated
within MSIIP, MSP undertakes the sale and development of this piece
of land as part of the MSIIP. |
| .. |
| Sg.
Petani Business Centre - In December 1994, the
Division acquired 4.4 acres of land in Sg. Petani and successfully
developed and sold the commercial development (Gross Development Value
= RM 1 3.4 million) |
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| Saujana
Akasia Country Homes - In April 1995, MSP acquired
45.56 acres of land in Mukim of Rawang, Daerah of Gombak for the development
of bungalow lots with buildings and shopoffices. The project development
are on-going with 95% of the units sold (Gross Development Value =
RM70.8 million) |
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| Mestika
Bistari Sdn Bhd (MB), a wholly owned subsidiary
of MSGB entered into a joint venture in February 1996 to develop a
68 acres piece of land in Bandar Pinggiran Subang in the Mukim of
Sungai Buloh into a commercial and industrial hub. The development
is a five years project and is expected to commence development in
the year 2000. |
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All
rights reserved Mah Sing Group Berhad 2000
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