Naim Indah Corporation Bhd plans to raise RM21.41mil from a proposed placement of 70.20 million new shares or 10% of its paid-up to third party investors, RM12mil would be used for working capital expenditure, RM5.81mil for capital expenditure for business expansion and RM3mil to repay borrowings

Naim Indah Corporation Bhd plans to raise RM21.41mil from a proposed placement of 70.20 million new shares or 10% of its paid-up to third party investors.

It said on Tuesday that assuming the placement shares were issued at an indicative price of 30.5 sen, the corporate exercise would raise gross proceed of RM21.41mil.

Naim Indah said the proposed placement might be implement in several tranches within six months from the date of approval.

Of the RM21.41mil, it said RM12mil would be used for working capital expenditure, RM5.81mil for capital expenditure for business expansion and RM3mil to repay borrowings. 

Source: www.thestar.com.my

Naim Holdings Bhd will develop the 12 ha site of the old Bintulu airport into an integrated upmarket commercial and residential project with gross development value (GDV) of RM2bil

Naim Holdings Bhd will develop the site of the old Bintulu airport into an integrated upmarket commercial and residential project.

The new city centre for the booming industrial town will comprise condominiums, street mall, international class hotel, shopping complex and other related facilities.

Corporate services senior director Ricky Kho said the project on about 12ha would have a gross development value (GDV) of RM2bil.

“It will be implemented in two phases, with phase one targeted for launch by year-end,” he told StarBiz.

An artist’s impression of Naim’s Batu Lintang mixed development project with gross development value of RM2bil.

Kho said the proposed street mall would feature commercial shophouses and small home offices while the three-star hotel would have about 200 rooms.

The condominium blocks would house some 600 units for sale to both local and foreign buyers.

“Phase one development is expected to take five years. Phase two will involve construction of the shopping complex,” he added.

Naim, Sarawak's biggest property developer, is expected to own and operate the shopping complex as a long-term investment.

Kho said there was a strong demand for quality accommodation like hotel, condominium and serviced apartment in Bintulu with the big influx of expatriates involved in the development of energy-intensive industries in Samalaju Industrial Park.

Samalaju is one of the five growth nodes of Sarawak Corridor of Renewable Energy (SCORE) and it will become the state's new heavy-industry centre.

Bintulu is now undergoing its third industrial boom. Besides the setting up of heavy industries like aluminium and manganese ferrosilicon smelters, the city also has two other major projects the Samalaju deepsea port and Petroliam Nasional Bhd's Bintulu liquified natural gas Train 9.

Naim will make its Bintulu integrated mixed development a major retail centre, leveraging on the growth of SCORE.

Meanwhile, Kho said Naim was expected to commence construction work of its proposed RM1.5bil mixed development in Batu Lintang here in the next few months as planning approval had been obtained.

The joint-venture project will involve the development of a 27-storey apartment, 18-storey condominium, 36-storey office tower, shopping mall, 17,000-sq-ft showroom, multi-storey car parks and water theme park. The prime land, which was previously occupied by government quarters, has been cleared.

He said phase one would involve some apartment and condominium units.

Naim's joint-venture partners in the project are charitable trusts, Lembaga Amanah Kebajikan Masjid Negeri Sarawak and Tabung Baitulmal Sarawak.

Kho said Naim had chalked up strong sales of properties this year, boosted by the high take-up rates of newly launched schemes in existing townships in Miri and Kota Samarahan.

“We have registered sales of about RM125mil as at May 31,” he added. Last year's sales was RM184mil an increase of RM42mil over 2010.

He said the top-selling properties were single-storey semi-detached and terraced houses in Miri's Permyjaya township (Naim's flagship development) and terraced units in Desa Ilmu in Kota Samarahan.

Naim is also recording good sales for its walk-up apartments launched recently in up-market Riveria satellite township near here.

The company has set up an office in Kota Kinabalu to prepare for its property development expansion in Sabah.

Naim, which has a land bank of about 1,050ha in Kuching, Miri and Bintulu, is on the lookout to acquire more land.

Source: www.thestar.com.my

Naim Holdings to build two schools in Permyjaya, Miri

Naim Holdings Berhad is prepared to build two schools with modern designs and facilities in Permyjaya New Township in Senadin, Miri to address the problem of student overcrowding.

Its director Abang Hasni Abang Hasnan said as a developer responsible for developing the area, the company had been asked to solve the problem faced by the people there.

“Naim Holdings Berhad has identified three strategic locations at the housing estate in Permyjaya New Township with all the necessary infrastructure and Internet access.”

He said there was an urgent need to build two schools to provide a conducive environment for students to study.

“We are willing and prepared to build the schools first without waiting for the allocation in the Third Rolling Plan as announced by Prime Minister Datuk Seri Najib Tun Razak when he visited Miri recently,” he said.

The construction of the schools would commence soon after receiving approval from the state Education Department and Ministry of Education (MoE), he added.

He disclosed that the company would meet with Education Department and MoE soon to discuss the matter.

There have been complaints from residents in Permyjaya New Township who highlighted the fact that with the rapid development in the area the number of people in the area had increased. This has resulted in a raise in the number of students too.

The area has about 100,000 residents and the number continues to increase with the additional number of houses and commercial buildings that now have reached about 22, 669 units.

With this increase, the number of schools in the area is not enough to accommodate the increasing number of students.

Schools like SMK Pujut, SMK Baru Permyjaya, SK Tudan, SK Senadin and SJKC Chung Hua Tudan are forced to carry out two sessions daily. Due to the congestion, some parents have to send their children to schools outside Permyjaya like SK Merbau, SK Kuala Baram 2, SK Lutong, SK Pujut, SK Bintang and SK Bandar Miri.

Source: www.theborneopost.com

Naim Holdings expands into healthcare

Property developer Naim Holdings Bhd diversifies into the healthcare sector after entering into a joint venture agreement (JVA) with KPJ Healthcare Bhd to design, build and operate a hospital in Sarawak.

“The joint venture represents a diversification of our business portfolio into the healthcare sector and will enable the group to participate in the high growth sector, where the government targets to generate RM35 billion incremental gross national income contribution to reach RM50 billion by 2020,” it said in filing with Bursa Malaysia yesterday.

Naim Holdings said its wholly-owned unit, Naim Land Sdn Bhd (NLSB), had signed a JVA with KPJ Healthcare unit Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB) for a hospital project in Miri, Sarawak.

The JV company (JV Co) will have an initial authorised share capital of RM25 million and an initial paid-up capital of RM19.67 million.

KPJSB will hold 70% of the JV Co and NLSB the balance. KPJSB will be allotted 13.77 million shares or RM13.67 million via a cash injection, to be financed via internally generated funds of the KPJ group.

NLSB will subscribe to 5.9 million shares of JV Co or RM5.9 million via an injection in kind in the form of the four-acre (1.6ha) land.

The land on which the hospital will be built is registered under NLSB.

Under the JVA, Naim Engineering Sdn Bhd will be engaged as the contractor to build and complete the hospital. KPJSB will be the master planner and project manager to advise on the design and technical requirements of the building.

KPJ said the JVA is in line with its objectives to increase its network of hospitals.

It added that the proposed JV would help lower its initial start-up cost in terms of land and constructions costs for the hospital.

Source: www.theedgemalaysia.com