Thomson Financial Mergers & Acquisitions, 26 February 2002 - Nagasari Cerdas(Dijaya Corp) acquires remaining interest in Desiran Realiti Sdn Bhd from Dijaya Corp Bhd
Thomson Financial Mergers & Acquisitions, 26 February 2002
MALAYSIA - Nagasari Cerdas Sdn Bhd, a unit of Dijaya Corp Bhd, planned to acquire the remaining 49% stake, which it did not already own, in Desiran Realiti Sdn Bhd, an investment holding company, from Directvest Sdn Bhd.
Read moreThomson Financial Mergers & Acquisitions, 26 February 2002 - Nagasari Cerdas(Dijaya Corp) acquires remaining interest in Desiran Realiti Sdn Bhd from Dijaya Corp Bhd
Thomson Financial Mergers & Acquisitions, 26 February 2002
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Thomson Financial's (TF) Worldwide Mergers and Acquisitions database covers public and private transactions involving at least a 5% ownership of a company. Transactions include m&a, stock swaps, LBO's, spinoffs, rumored and seeking buyer deals, and more. U.S. deals date as far back as 1979, and international deals to 1985. |
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Business Times, 17 April 2002 - Branded for success
By Jennifer Gomez, 17 April 2002
The power of a desirable brand name isn’t just applicable to consumer products but also properties. Proof of this can be seen from the popularity of the properties that have been released under the banner of the Tropicana Golf and Country Resort.
Read moreBusiness Times, 17 April 2002 - Branded for success
By Jennifer Gomez, 17 April 2002
The power of a desirable brand name isn’t just applicable to consumer products but also properties. Proof of this can be seen from the popularity of the properties that have been released under the banner of the Tropicana Golf and Country Resort. Developed by Tropicana Golf & Country Resort Bhd, a member company of Dijaya Corporation Bhd, the 625-acre development located in Petaling Jaya and accessible via the North Klang Valley Expressway and Lebuhraya-Damansara Puchong is well known as one of theKlang Valley’s premier addresses for the upgrade market.
Dijaya Group managing director P.K. Poh believes that the project’s success has been due to its branding strategy that has managed to live up to the concept of where one can work, dine and play in a single, secure resort environment. “This is what the Tropicana brand is all about,” Poh said, adding that what further distinguishes the development is the fact that Tropicana offers residents country living with city convenience.“Many other developments boasts of country living as well, but more often than not, it is without the convenience of a city,” he added.
Poh also pointed out that the development’s 27-hole golf course is reputed to be one of the top-three golf courses in the country and the clubhouse, is considered to be the largest in Malaysia with a built-up area of 350,000sq ft. Given the position the development occupies in the market, it has come as no surprise that many of the purchasers of the 148 double-storey semi-detached houses that were officially launched in July last year in Green Acres, Tropicana’s newest precinct, were those who already owned property in the development. And as these buyers also brought along their relatives and friends, more than 70 per cent of the total 108 units in Green Acres’first phase have been snapped up to date.
The four-bedroom semi-dees are available in two design types - Gloria and Floria - priced from RM950,800 and RM1.87 million. Floria will have built-up areas ranging from 4,290sq ft to 4,315sq ft and a plot size of between 4,004sq ft and 12,809sq ft. Gloria, on the other hand, will be slightly smaller, with 3,910sq ft to 4,046sq ft of space sitting on 3,595sq ft to a little over 9,000sq ft of land. In terms of architectural value-added features, the master bedrooms of Gloria and the staircases of Floria will have skylight roofs. There will also be bidets and shower screens in the master bathrooms while all the bedrooms except the maid’s room will have en-suite bathrooms complete with hot water facilities.
All houses will also have a formal and informal dining area and two store rooms plus plaster glass ceiling with decorative cornices. Aside from this, the houses will also come with four air-conditioning units located in the master bedroom, study, living and dining areas. Other value-added features include ISDN connection cables, Astro cabling TV points, automatic swing main gate and three-phase wiring. These semi-dees will also have smart home features where residents will be able to monitor security and control electronic utilities from remote locations as well as within the home.
“With all these features, buyers can pretty much pack their suitcases and move in,” Poh said, adding that buyers will also be given a complimentary Tropicana sports and leisure membership worth RM22,800. To date, 433 bungalow lots, 84 semi-detached houses, 143 terrace houses and 58 townhouse units that have been launched progressively in Tropicana since 1992 have been sold. Given the capital appreciation experienced by these properties, Poh is confident that the same prospect awaits buyers of Gloria and Floria.
“Our Cora and Dora semi-dees launched in 1995 were pegged from RM810,000 and had smaller built-up areas starting from 2,500sq ft. These units are now going for more than RM1 million in the secondary market. I cannot predict the appreciation rate for this latest release of semi-dees, all I can say is that nobody has lost money on their Tropicana homes,” he added.
NST, 2 March 2002 - Broadband Upgrade for Damansara Intan
New Straits Times, 2 March 2002 - By Jennifer Gomez
Dijaya's move to enhance the IT facilities will make the commercial centre more attractive to businesses.
Read moreNST, 2 March 2002 - Broadband Upgrade for Damansara Intan
New Straits Times, 2 March 2002 - By Jennifer Gomez
Dijaya's move to enhance the IT facilities will make the commercial centre more attractive to businesses. Although they may find it unusual, most property purchasers would be more than happy when a developer decides to provide after-sales service and facilities, or upgrade these, to make life better in a project.
Developer Dicorp Land Sdn Bhd's efforts to upgrade the IT facilities in its Damansara Intan e-Business Park project has met with the approval of those who purchased units here. The developer, which is a member of the Dijaya Group, will be installing a Broadband Fixed Wireless (BFW) service that will enable the building's occupants to operate at lower costs. "Currently we have leased line and ISDN services here. But we found that the cost of using BFW will be much cheaper than using leased lines, and it's also capable of providing high-speed internet access of up to 2MBps," said Dijaya Group managing director P.K. Poh.
Users of the BFW will be able to choose from the different packages ranging from RM1,400 to RM4,500 depending on the application. The different applications include high and fast data and video transfer, voice over internet protocol (VOIP), web casting, high performance video conferencing, interactive games and multi-tasking where a few browsers can be opened at one time. Having identified the system, Dijaya Is now negotiating with some companies to provide the BFW service that is expected to be available in the commercial project by the middle of this year.
"We want to be very confident of who we sign up with to avoid engaging someone who only has short-term plans in mind and who will not be able to deliver based on the system's maximum potential. The provider must instead be able to prove that it will be committed to giving the best service to the users in Damansara Intan," he explained.
As such, Poh expects that this new system, which is fast gaining popularity in the IT arena due to its low cost advantages as well as its security and reliability features will be able to draw new companies that rely on IT services to move into Damansara Intan. "This new service would also be an incentive for the existing operators here to extend their leases," he said. Rental rates for office space are going for between RM1.60 to RM1.80psf inclusive of service charges while shop rentals are from RM3.70 to RM4psf. Located on a 9.6-acre freehold site off Sprint Highway in Damansara, nearly 60 per cent of the total 561 shops and office suites in Damansara Intan have been sold.
Ranging from 893sq ft to 1,249sq ft in size, the office suites carry a price tag of between RM200,925 and RM281,025. As for the dual frontage shops, they are pegged around RM1.2 million while the built up areas range from 1,830sq ft to 1,948sq ft.
Malay Mail, 1 March 2002 - Dijaya to enhance IT facilities in Damansara Intan
The Malay Mail, March 1, 2002
A century old tradition to mark the launch of a new technology.
Read moreMalay Mail, 1 March 2002 - Dijaya to enhance IT facilities in Damansara Intan
The Malay Mail, March 1, 2002
A century old tradition to mark the launch of a new technology. This is how Dijaya Corporation Berhad group managing director PK Poh described the rationale of having a Lion Dance performance by 11-time world champion, the Kun Seng Group to announce the new broadband technology that the developer, Dicorp Land Sdn Bhd, a member of the Dijaya Group will be installing in its Damansara Intan e-Business Park soon.
This new service, dubbed the Broadband Fixed Wireless system (BFW) is an addition to the leased line and ISDN facilities that are already available in the freehold commercial development located along the Sprint Highway in Damansara.
Situated over a 9.6-acre site, Damansara Intan is made up of 533 office suites and 28 shops located in two blocks. The offices come in built-up space, ranging between 893 and 1,249sq ft and are priced between RM200,925 and RM28 1,025. As for the dual-frontage shop units, they range from 1,830sq ft to 1,948sq ft with the sale prices hovering around RM 1.2 million.
"What we are planning to install now is BFW internet technology that will enable high speed internet access of up to 2Mbps at a cheaper cost than using leased lines. This is part of our efforts to constantly upgrade our developments, even though we have sold nearly 80 per cent of the shop and office units here.
"It is not something we have to do since we already have the hi-tech facilities in Damansara Intan. The reason we are doing this is to prove our worth as a responsible developer that not only builds and sells properties. but also one that upgrades facilities and services when there are opportunities 10 do so," Poh said.
This new service, which uses a combination of the BFW and digital subscriber line technology involves fixed costs for its users depending on the package that they required which can range from RM1,400 to RM4,500 per month.
The applications to be made available under the different packages include high and fast data and video transfer, voice over internet protocol (VOIP), web casting, high performance video conferencing, interactive games and multi-tasking where a few browsers can be opened at one time.
According to Poh only few buildings are currently using the BFW system but he is quite confident that many other developments focusing on hi-tech features will soon subscribe to this technology due to its cost effectiveness, reliability and better security features.
"We have not signed up with any service provider yet but we are talking with a few companies and hope to secure a deal by next month. We want to be sure that the people we engage are stable long term players and will be able to provide the service well and efficiently," he added.
While there are no plans to increase the sale prices of the unsold office and shop units, Poh said that there might be an increase in occupancy from the 65 percent status once the BFW service is made available in Damansara Intan.
Presently, owners are renting out their office suites at rates between RM1.60 to RM1.80 per sq ft inclusive of service charge while shops are being rented for about RM3.70 to RM4.
ParGolf Magazine, January 2002 - A Vision Realised
ParGolf Magazine, January 2002
One of the instrumental figures behind the success of Tropicana Golf & country Resort is P K Poh, the Group Managing Director of Dijaya corporation Berhad and Tropicana Golf & Country Resort Berhad
Read moreParGolf Magazine, January 2002 - A Vision Realised
ParGolf Magazine, January 2002
One of the instrumental figures behind the success of Tropicana Golf & country Resort is P K Poh, the Group Managing Director of Dijaya corporation Berhad and Tropicana Golf & Country Resort Berhad. For close to a decade now, P.K. has steered the ship with great vision and helped make Tropicana a model for up-market golf cum property developments.
In an interview with ParGolf Magazine, P.K. reveals the formula for Tropicana's success and shares some good insightful views on the outlook for the golf industry and property market for 2002. Pargolf What was the vision behind the Tropicana project as a whole and has that vision been realized?
PK POH I can quite confidently say that our vision has been realized. We have a little 'United Nations' in Tropicana, in the sense that our residents are of all nationalities. In addition to locals, there are lots of high level German, British, American and Japanese expatriates here. Many of our purchasers intended to stay here when they first built their houses but when they found out that the rental value was so good, they decided to rent it out. Then they bought another piece of land nearby and built another house !
Our vision was to built a resort in a city in which, at that time, no one had done. We wanted to create a resort environment in the middle of an urban area. The tag-line we used was 'a place where you can live, work and play in one, single secure environment'. If you work in our Office Park, you can actually look out your window and see your home and the golf course - and decide when you want to knock off and have a game! Play does not mean just golf and sports but also to entertain, to enjoy some quality time with your family, etc.
Pargolf What are the areas that need to be improved on?
PK POH One thing that we have not yet fully achieved but that I would like to see achieved is a culture of service. Everyone, whether they are members, guests or member's friends, has to feel welcome the moment they step into the resort. The other thing that we would like to improve on is the practice of encouraging complaints from members, or from anybody for that matter. It is through complaints that we get actual feedback on how well of how badly we are doing. We're devised some complaint forms and distributed them around the club with pencils, so people can complain the moment the feel aggrieved about something.
I go through the complaint list with the management every month, so we can see the areas in which we are weak and address them. That's the culture we want to cultivate in our staff - not to be afraid of complaints but to welcome them as that helps you improve your performance.
Pargolf What are the main factors that contributed towards the success of Tropicana?
PK POH The first factor is the people, the strong team that we have. The team that we had from the beginning is still very much intact. The first group of Bangladeshis who came have done very well, they've learnt a lot and provided very good service. The same goes for the caddies that we've now got from Indonesia - they also have begun to understand the culture of service.
Another factor is the fact that we actually managed to achieve the vision that we had in the beginning. Thirdly, we also managed to create value, especially in the property side - when we first started out, land value was at RM30 per square foot and now it's going around RM120. I can safely say that, without exception, those who bought properties here and then sold them have always make a profit. Of course, in property development location is THE thing apart from price. However, having a good location but the wrong concept could result in a failed project.
Pargolf What is the biggest challenge faced in taking Tropicana to where it is today ?
PK POH Overcoming the initial prejudices and lack or confidence about our ability to complete the project and to keep to our word of creating a resort. In the end, we decided to prove our commitment and ability to everyone by building the roads, putting in the lampposts and landscaping first. That was almost unheard of as developers usually build the houses first but we decided to reverse the process so that, when people came, they felt like they were already in a proper residential area.
A lot of people said we were crazy when they found out about the size of our clubhouse but we were looking far down the road. Had we built a smaller clubhouse, we would have had to extent it now and that would cause inconvenience. Now, the clubhouse doesn't seemed that big after all. We have 4,500 members now and most of them are active, so patronage of the club facilities and F & B outlets is high.
Pargolf What is your opinion about the economic outlook for 2002 for property and golf ?
PK POH If you are a one-time developer and just want to hit and run, make some money and retire, it'll be tough for you as you really have to hit it right. If at that time, the properties that you have are not saleable at that location, then you may have a problem.
For a larger group like us, we have properties in various categories moving in different phases of construction. You can actually pace yourself and create different types of products to cover different types of situation. At any time in the property cycle, if something cannot move, we have other properties that we can sell to keep the group going. That way, we spread our risk.
The property market will be softer in 2002. I don't see commercial property picking up yet. But for residential properties, especially landed, I don't think there will be a problem except for those areas where people bought solely for speculation. Purchasers nowadays look for reputation - if you don't have reputation and a track record, it's going to be hard to sell. As far as golf is concerned, we have already achieved critical mass in our membership base to keep the club going. But for other clubs in outlying areas, they will face problems.
A lot still needs to be done to promote the game for the benefit of the industry as a whole. We need to increase the number of golfers in this country, especially among younger people - a lot whom still think of golf as an old man's game. Golf equipment has to be made cheaper as it's still beyond the reach of most people.
Pargolf How would you describe the Tropicana layout?
PK POH We always call Tropicana a thinking man's course and that was the philosophy we had when we designed it together with Ross Watson and Graham Marsh. It was joint effort. Although we are not experts at that time, we felt certain things had to be done on certain holes to provide variety to the course. We wanted golfers to remember each individual hole when they sat at the terrace with their drinks.
We also wanted a course where you are forced to use every club in your bag. Here, you tested to the full - sometimes, instead of a driver from the tees, you may have to use a five-wood or even a five-iron. The other thing that we set out to achieve was to create a course which golfers will never get bored with and I think we've achieved that. Our members play here three to four times a week and you don't hear them complaining about the course being boring.
Pargolf Despite high volume usage, Tropicana is excellently maintained. What's your formula ?
PK POH A golf course is a living thing, it's like giving birth to a child. You have to make sure that the child grows up right, strong and healthy. Our staff realizes this so they take care of the course and make sure it matures properly. We give our maintenance people and our caddies, a sense of belonging. They actually 'own' the some of the holes - we allocate each hole to certain caddies and they feel very protective of that hole and really look after it.
We take very proactive approach to maintenance - each time we get a complaint about the course or see something new that will help improve the course, we will look into it immediately. We also try to get across the message to the members that this is their course and they should take care of it. We haven't succeeded fully yet. It's a process of education that will take time.