‘No concrete plan for Mutiara Beach Resort’

By Sharen Kaur
Published in NST on April 14, 2014

25-YEAR-OLD PROPERTY: Tradewinds focusing on mega projects in Langkawi, KL

TRADEWINDS Corp Bhd, may only look at redevelopment plans for Mutiara Beach Resort in Penang next year, said a key official.

“We have too much on our plate to start planning now, with two major ongoing projects in Langkawi and the large developments in Kuala Lumpur. We are focusing on these mega projects,” the official said.

According to him, the Penang resort project has not reached the drawing board and there is no concrete plan as to what the company may want to do there. 

“Of course, the best thing is to have more rooms so that there will be a good return on investment. Whether we sell the property or not would depend on the market situation and the offers,” he said.

The 25-year-old property, which is located on 4.05ha in Jalan Teluk Bahang, has been closed since 2006.  There were earlier plans to renovate and rebrand the property as InterContinental Resort Penang.

However, both Tradewinds and InterContinental mutually terminated the management contract in early 2009.

Tradewinds, which owns eight hotels and resorts, is developing the RM4 billion Perdana Quay and the Burau in Langkawi for RM420 million.

In Kuala Lumpur, Tradewinds' existing projects include the upgrading of Menara Tun Razak and the development of Tradewinds Centre in Jalan Sultan Ismail, both of which are projected to cost more than RM4 billion.

The group is demolishing the 40-year-old Crowne Plaza Mutiara Hotel and 33-year-old Kompleks Antarabangsa to make way for the Tradewinds Centre, which has an estimated gross development value of more than RM7 billion.

Tradewinds has said it will redevelop the 2.8ha site on its own over seven years.

The project will comprise a 65-floor skyscraper and 54-storey bloc of residences, Grade A+ offices, a 24-storey corporate block, a large-scale 14-storey medical centre, retail offices, serviced apartments and hotel.

At Menara Tun Razak, Tradewinds is upgrading the 35-storey office tower and constructing a new 40-storey office tower adjacent to it.

“Tradewinds’ financial results will improve tremendously from next year as property sales from some of the projects start to kick in,” the official said.

Its last financial results for the six months ended June 30, 2013, showed that it made RM75.44 million in net profit from RM474.57 million in revenue.  Its total assets stood at RM3.6 billion.

The 25-year-old Mutiara Beach Resort in Penang has been closed since 2006.

TREC set to make its mark in Kuala Lumpur

By Sharen Kaur

NEW CONCEPT: Avant City plans international tenant mix for RM400m entertainment hub

THE RM400 million TREC entertainment hub here will change the city's night life, and provide a boost to the tourism sector and local economy.

Developed by Avant City Sdn Bhd, TREC will open in the third quarter of next year and would be comparable to Singapore's Clark Quay, Hong Kong's LanKwai Fong and Shanghai's Xin TianDi. It will be developed on a 2.83ha site at the Royal Selangor Golf Club (RSGC).

                   Electric Boulevard - set to be one of the world’s most exciting night-time destinations

                                              TREC’s ground-breaking concept and design

It will feature front-row views over the spectacular greens of the golf course in Jalan Tun Razak and sit directly opposite the billion-ringgit Tun Razak Exchange. 

                                                        Dining with a view of the golf course

Avanti City, which is owned by Daman Land Sdn Bhd (35 per cent), Modern Falcon Sdn Bhd (35 per cent) and Berjaya Assets Bhd (30 per cent), has leased the land for 30 years.

The coming together of these companies will ensure that TREC is sustainable, and it would provide a new destination for local and international clubbing and dining enthusiasts.

Daman Land is controlled by Datuk Douglas Cheng and his father Tan Sri David Cheng. They own several outlets and clubs, including the Dragon-i and Canton-i Chinese restaurants.

Modern Falcon is run by Cher Ng, the co-founder of Zouk KL, and his business partners. Berjaya Assets is the developer of Berjaya Times Square in Jalan Imbi, here.

"The idea for TREC came from Ng, who had to relocate Zouk KL from its present location in Jalan Ampang. We saw the piece of land at the golf course and decided to set up TREC there.

"The project will cost RM152 million and funded via equity by the three parties," the younger Cheng told Business Times.

TREC, comprising five unique zones, will have a net lettable area of 256,000 sq ft and the anchor will be the new Zouk KL.

"We are talking to club owners in the United Kingdom and restaurant operators in Indonesia, Thailand and Singapore to lease the space for between RM10 and RM12 per sq ft.

"We want a good tenant mix for TREC. We are looking for new concepts and don't want what is already in Kuala Lumpur. I am very bullish TREC will be fully taken up before its opening next year," he said.

Avani Sepang sees revenue exceeding RM50m this year

By Sharen Kaur

SEPANG: Avani Sepang Goldcoast Resort is confident its revenue will exceed RM50 million this year as it targets Asia Pacific and European travellers.

The five-star resort (formerly known as Golden Palm Tree Resort & Spa) in Bagan Lalang, Sepang, expects its revenue to post double-digit growth year-on-year in 2014, said its general manager Thomas Fehlbier.

The resort, which began operations in 2010, is owned by Sepang Goldcoast Sdn Bhd (SGSB) and operated by Thailand-based Minor International.

SGSB is a joint venture between the Selangor investment arm Permodalan Negeri Selangor Bhd and Sepang Bay Sdn Bhd, a subsidiary of Indonesia's Istana Group.
They have invested more than RM200 million to set up the resort, which has 389 studio, two-bedroom and three-bedroom villas that spread out into the sea in the shape of a palm tree.

                                    

Minor International took over the management of the resort from Hong Kong-based Swiss-Belhotel International a year ago and has completed a re-branding exercise recently.

Avani is among the more than 100 hotels and resorts in Southeast Asia owned and managed by Minor International.

Fehlbier said under the new management, Avani Sepang Goldcoast is moving up its ante to provide world-class services to travellers.

Some RM7 million has been invested to upgrade the lobby and clubhouse, and another RM8 million will be spent to set up a kids club, a multi-purpose hall and a pool, he said.

"We are changing our marketing approach by reducing occupancy and increasing room rates.

"We are targeting travellers who want to stay for at least a week, especially Europeans and Australians," he said.

The majority of the stay-in guests are locals and the rest are tourists from Australia, Vietnam, Singapore and parts of Europe.

"We are quite confident that more foreigners will stay with us because of the changes that we are making. We are trying to regain the European market," he said.

The villas are priced at between RM500 (studio) and RM2,400 (three-bedroom) a night and the rates will be increased by 15 per cent this year, Fehlbier said.

Last year, the rates were raised by 18 per cent.