The money in golf clubs land in the Klang Valley, Malaysia

Golf course land has been in the spotlight after three golf clubs became the target of developers in Klang Valley.

The three are Kelab Rahman Putra Malaysia, Sultan Salahuddin Abdul Aziz Shah (KGSSAAS) Golf Course and Perangsang Templer Golf Club in Templer Park.

The last to join the fray is Perfect Eagle Development Sdn Bhd, which has submitted a proposal to acquire 279 acres of land, which Kelab Rahman Putra Malaysia sits on, for a cash consideration of RM296mil.

Perfect Eagle, which made the offer two weeks ago, plans to convert a portion of the golf course for property development.

The deal is still pending approval from its members. But if the offer is accepted by the members, each of the 4,230 members would receive RM70,000 cash each, which is not too bad considering that the golf club membership cost less than RM15,000 when it was started in the mid-1990s.

In 2012, Kelab Rahman Putra also received an offer to buy the club for RM130mil, however it was rejected by the members.



As for KGSSAAS, the owner - Great Doctrine (M) Sdn Bhd - sold a portion of its golf course - 34.6ha - to Mah Sing Group Bhd last week for RM327.4mil.

To facilitate the deal, KGSSAAS, which currently has a 27-hole golf course facility, would shrink the size of the course to an 18-hole course.

Mah Sing expects the project to have a gross development value (GDV) of RM2.5bil.

In February, Perangsang Templer Golf Club in Templer Park was reportedly to be closed down to make way for a high-end residential and commercial property project that could worth RM1.24bil.

SP Setia Bhd has signed a joint-venture deal with Kumpulan Perangsang Selangor Bhd (KPS).

KPS, via its unit Cash Band (M) Bhd, is the owner of three parcels of 194.65 acres of leasehold land. SP Setia’s role under the agreement is to develop the land as well as to market and sell the commercial and residential units.

It has been reported that KPS had done a study to evaluate the redevelopment potential of the 18-hole golf course, and said that it was “not-fully optimised in its current form and utilisation”.

It notes that the conversion of the land to mixed development status could unlock the true value of the land.
There is no doubting that golf courses in the Klang Valley are highly attractive to developers.

A quick check indicates that there are over 15 golf courses scattered around Klang Valley, and Petaling Jaya alone has almost six golf courses.

With land scarcity in the Klang Valley and the rising demand for homes, golf land has become hot property.

“As land become scarcer, golf land may become more viable for development as they are generally well located.

“In fact, much of golf land are located in matured locations with established amenities,” says Mah Sing group managing director Tan Sri Leong Hoy Kum.

Nonetheless, he notes that the recent golf land acquisitions was mainly due to the location, land price, payment terms and development potential.

“We do not set out to acquire golf land per se, but we continuously look at landbanks that fit our business model,” he adds.

Traditionally, golf courses in Malaysia are surrounded by lavish bungalow units in a pristine neighborhood. Homeowners would enjoy a tranquil park built within the area, giving them a peaceful environment away from the concrete jungle.

Experts say developers that are targeting golf clubs are actually looking for landbanks for future high-end development.

“Most of the golf courses in the Klang Valley were planned to be part of a comprehensive development with luxury housing and sometimes, commercial components like resort hotel and office park.

“But as time goes by when the development matures and the land and house prices increase in the area, it makes better sense financially for the golf course land to be used for higher value developments such as luxury housing,” says Henry Butcher Marketing Sdn Bhd chief operating officer Tang Chee Meng.

He says the factors that drive property developers to buy over golf courses are location, matured neighbourhood, nice environment and large land size.

When asked if there would be more golf land to be gobbled by property developers, he says it would depend on the property market, land prices, consumer preferences and development trends.

An analyst says that the scenario of having golf land being scrapped to make way for property development is not only unique in Malaysia, but also seen in other countries such as in the United States, UK and Singapore.

“It’s a natural evolution as long as the state government approves it,” he says.

“The shortage of suitable development land in the city area has resulted in developers targeting other types of land, and this includes golf courses,” he adds.

He says acquiring golf land at the moment is timely, considering the maturity of the Klang Valley area.

“It would be the right time to develop such land especially if the golf courses are underutilised,” an analyst says.

While Mah Sing scores a hole-in-one with the acquisition of a parcel of land in KGSSAAS, some developers may not find it easy to acquire golf courses.

A major obstacle is getting approval from members.

One of the reasons why Mah Sing was successful with the KGSSAAS deal was because the transaction did not need the approval of members.

That the land was up for sale was also known in the market.

KGSSAAS, located near Stadium Shah Alam’s Section 13, was sold for RM88 per sq ft to Mah Sing.

For Perfect Eagle Development, the acquisition could be tricky, as the consent of members is required.

When contacted, a member of Kelab Rahman Putra Malaysia says he would prefer to reject any offer to buy the club land due to the embedded value of the land.

While golf clubs have attracted interest of late, it is not a new phenomenon.

In 2011, Dijaya Corp, now known as Tropicana Corp Bhd, bought over the Japanese-owned Kajang Hill Golf Country Club for a reported RM228mil for 80.33ha freehold land.

The land was then be transformed into Tropicana Heights Kajang, a mixed development project, comprising landed homes, condominiums, apartments, and shop offices with an expected gross development value of RM2bil.

One of the pioneers in developing golf courses is YTL Land & Development Bhd.

The group had scrapped what used to be a nine-hole golf course in Sentul, and converted it into a private gated park for residents in the Sentul West development.

The park, also known as Sentul Park, was formerly the 85-year-old Sentul Raya Golf Club.

In 2001, YTL acquired Taiping Consolidated Sdn Bhd and inherited the whole Sentul Raya project, which spanned over 294 acres of land, including the golf course.

Contributed by  Intan Farhana Zainul The Star/Asia News Network

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China ship detected ‘pulse signals’ are consistent with MH370 aircraft black box

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A Chinese air force plane searching for missing Malaysian passenger jet MH370 spotted a number of white floating objects in the search area Saturday.

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Planes and ships continue criss-cross search grid fo flight MH370 in Indian ocean | Watch News Videos Onlinehttp://globalnews.ca/video/1252652
 
PERTH, Australia — A Chinese ship involved in the hunt for the missing Malaysian jetliner reported hearing a “pulse signal” Saturday in southern Indian Ocean waters with the same frequency emitted by the plane’s data recorders, as Malaysia vowed not to give up the search for the aircraft.

The Australian government agency coordinating the search for the missing plane said early Sunday that the electronic pulse signals reportedly detected by the Chinese ship are consistent with those of an aircraft black box. But retired Air Chief Marshal Angus Houston, the head of the search coordination agency, said they “cannot verify any connection” at this stage between the electronic signals and the missing Malaysia Airlines Flight 370.

Military and civilian planes, ships with deep-sea searching equipment and a British nuclear submarine scoured a remote patch of the southern Indian Ocean off Australia’s west coast, in an increasingly urgent hunt for debris and the “black box” recorders that hold vital information about Malaysia Airlines Flight 370′s last hours.

After weeks of fruitless looking, the multinational search team is racing against time to find the sound-emitting beacons in the flight and cockpit voice recorders that could help unravel the mystery of the plane’s fate. The beacons in the black boxes emit “pings” so they can be more easily found, but the batteries only last for about a month.

A Chinese ship that is part of the search effort detected a “pulse signal” in southern Indian Ocean waters, China’s official Xinhua News Agency reported. Xinhua, however, said it had not yet been determined whether the signal was related to the missing plane, citing the China Maritime Search and Rescue Center.

Xinhua said a black box detector deployed by the ship, Haixun 01, picked up a signal at 37.5 kilohertz (cycles per second), the same frequency emitted by flight data recorders. Malaysia’s civil aviation chief, Azharuddin Abdul Rahman, confirmed that the frequency emitted by Flight 370′s black boxes were 37.5 kilohertz and said authorities were verifying the report.

Earlier Saturday, Xinhua reported that a Chinese military aircraft searching for the missing aircraft spotted “white floating objects” not far from where the electronic signals were detected.

Finding floating wreckage is key to narrowing the search area, as officials can then use data on currents to backtrack to where the plane hit the water, and where the flight recorders may be.

Houston said the Australian-led Joint Agency Coordination Centre heading the search operation could not yet verify the Chinese reports and had asked China for “any further information that may be relevant.” He said the Australian air force was considering deploying more aircraft to the area where the Chinese ship reportedly detected the sounds.

“I have been advised that a series of sounds have been detected by a Chinese ship in the search area. The characteristics reported are consistent with the aircraft black box,” Houston said, adding that the Australian-led agency had also received reports of the white objects sighted on the ocean surface about 90 kilometers (56 miles) from where the electronic signals were detected.

“However, there is no confirmation at this stage that the signals and the objects are related to the missing aircraft,” Houston said.

Still, Malaysia’s defense minister and acting transport minister, Hishammuddin Hussein, was hopeful. “Another night of hope – praying hard,” he tweeted in response to the latest discoveries.

There are many clicks, buzzes and other sounds in the ocean from animals, but the 37.5 kilohertz pulse was selected for underwater locator beacons on black boxes because there is nothing else in the sea that would naturally make that sound, said William Waldock, an expert on search and rescue who teaches accident investigation at Embry-Riddle Aeronautical University in Prescott, Arizona.

“They picked that (frequency) so there wouldn’t be false alarms from other things in the ocean,” he said.

Honeywell Aerospace, which made the boxes in the missing Malaysia Airlines plane, said the Underwater Acoustic Beacons on both the flight data recorder and cockpit voice recorder operate at a frequency of 37.5 kilohertz plus or minus 1 kilohertz.

Waldock cautioned that “it’s possible it could be an aberrant signal” from a nuclear submarine if there was one in the vicinity.

If the sounds can be verified, it would reduce the search area to about 10 square kilometers (4 square miles), Waldock said. Unmanned robot subs with sidescan sonar would then be sent into the water to try to locate the wreckage, he said.

John Goglia, a former U.S. National Transportation Safety Board member, called the report “exciting,” but cautioned that “there is an awful lot of noise in the ocean.”

“One ship, one ping doesn’t make a success story,” he said. “It will have to be explored. I guarantee you there are other resources being moved into the area to see if it can be verified.”

The Boeing 777 disappeared March 8 while en route from Kuala Lumpur, Malaysia, to Beijing with 239 people aboard. So far, no trace of the jet has been found.

Hishammuddin, the Malaysian defense minister, told reporters in Kuala Lumpur that the cost of mounting the search was immaterial compared to providing solace for the families of those on board by establishing what happened.

EPA/ABIS JULIANNE CROPLEY/AUSTRALIAN DEPARTMENT OF DEFENCEA handout picture made available by the Australian Department of Defense (DOD) on 02 April 2014 shows the HMAS Success searching for the missing Malaysia Airlines Flight MH370, at sea in the southern Indian Ocean, 31 March 2013. 

“I can only speak for Malaysia, and Malaysia will not stop looking for MH370,” Hishammuddin said.

He said an independent investigator would be appointed to lead a team that will try to determine what happened to Flight 370. The team will include three groups: One will look at airworthiness, including maintenance, structures and systems; another will examine operations, such as flight recorders and meteorology; and a third will consider medical and human factors.

The investigation team will include officials and experts from several nations, including Australia – which as the nearest country to the search zone is currently heading the hunt – China, the United States, Britain and France, Hishammuddin said.

Officials have said the hunt for the wreckage is among the hardest ever undertaken, and will get much harder if there are no confirmed debris sightings and the beacons fall silent before they are found.

If that happens, the only hope for finding the plane may be a full survey of the Indian Ocean floor, an operation that would take years and an enormous international operation.

Hishammuddin said there were no new satellite images or data that can provide new leads for searchers. The focus now is fully on the ocean search, he said.

Two ships – the Australian navy’s Ocean Shield and the British HMS Echo – carrying sophisticated equipment that can hear the recorders’ pings returned Saturday to an area investigators hope is close to where the plane went down. They concede the area they have identified is a best guess.

Up to 13 military and civilian planes and nine other ships took part in the search Saturday, the Australian agency coordinating the search said.

Because the U.S. Navy’s pinger locator can pick up signals to a depth of 6,100 meters (20,000 feet), it should be able to hear the plane’s data recorders even if they are in the deepest part of the search zone – about 5,800 meters (19,000 feet). But that’s only if the locator gets within range of the black boxes – a tough task, given the size of the search area and the fact that the pinger locator must be dragged slowly through the water at just 1 to 5 knots (1 to 6 mph).

Australia’s Houston acknowledged the search area was essentially a best guess, and noted the time when the plane’s locator beacons would shut down was “getting pretty close.”

The overall search area is a 217,000-square-kilometer (84,000-square-mile) zone in the southern Indian Ocean, about 1,700 kilometers (1,100 miles) northwest of the western Australian city of Perth.

-  Nick Perry and Eileen Ng, Associated Press
Ng reported from Kuala Lumpur, Malaysia. Associated Press writers Gillian Wong in Kuala Lumpur, Rod McGuirk in Canberra, Australia, Kristen Gelineau and Rohan Sullivan in Sydney, and Joan Lowy in Washington contributed to this report.

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Chinese tourists abducted by Philippine terrorists, to sour ties with China?

PERTH: Malaysia is not ruling out the possibility that the latest abduction case at a resort off Semporna was a deliberate act to sour the country’s relations with China, says Prime Minister Datuk Seri Najib Tun Razak.

He said the fact that one of those kidnapped was a Chinese national could complicate the situation further following the disappearance of MH370, which had mostly Chinese nationals on board.

“There may be those who are attempting to drive a wedge between China and us. They may be trying to take advantage of the situation,” Najib said after a bilateral meeting with his Australian counterpart Tony Abbott at the Commonwealth Parlia­mentary Office here.

Najib, however, believes ties with China will remain strong despite the kidnap incident.

Najib said Malaysia had sought the cooperation of Filipino authorities on the matter, while police were investigating how the incident could have happened.

A news portal had reported that rebel group Abu Sayyaf was responsible for the abduction.

Filipino military sources told Rappler.com that the two women were taken by six former Moro National Liberation Front (MNLF) members who had joined Abu Sayyaf.

In Kota Kinabalu, Sabah Chief Minister Datuk Seri Musa Aman has ordered that all available resources be directed towards solving the kidnapping case at a resort in Sem­porna.

He said the Eastern Sabah Security Command (Esscom) director-general Datuk Mohammad Mentek had briefed him on the kidnapping.

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RM11.5mil the usual price for non-Filipino hostage

PETALING JAYA: The notorious Abu Sayyaf group believed to be responsible for the abduction of a Chinese and Philippine national in Sabah used to demand up to US$3.5mil (RM11.5mil) for the release of non-Filipino citizens, said a security analyst.

Prof Dr Aruna Gopinath who specialises in maritime security said the separatist group based at Basilan in the southern Philippines would typically charge a lower rate of three million pesos (RM219,000) for the release of Filipino citizens.

“The Abu Sayyaf are only interested in money and a ransom will have to be paid before they release their hostages,” she said.

Aruna said a Philippine reporter she knew was kidnapped by the group in 2011 and was held captive for 90 days.

“She met the Abu Sayyaf leaders in Basilan for an interview but was instead kidnapped by them, kept under guard in a house and given only water and two bananas three times a day.”

Aruna said a Philippine congressman eventually agreed to pay the ransom of three million pesos after which her friend was let go.

Another Moro Islamic Liberation Front (MILF) breakaway group that specialises in kidnapping is the Bangsamoro Islamic Freedom Fighters which Malaysian authorities must be alert for, said Aruna.

In a related development, the Associated Press quoted a Philippine intelligence official yesterday as confirming that the kidnapping was the work of the Abu Sayyaf group.

He said Abu Sayyaf leaders were angry because they were not brought into the peace deal between the Philippine government and MILF.

The most recent in a long list of abductions blamed on the Abu Sayyaf prior to the incident in Sabah on Wednesday was the reported kidnapping of an elementary school principal in Basilan on Monday.

- The Star/Asia News Network

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