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Setia Eco Cascadia
- Thread starter rosnyus
- Start date
nowyouseeme
New Member
Hi guys, this is the general guideline for foreigners who wish to buy Selangor properties (minimum RM2mil depend on zone):
http://www.thestar.com.my/Business/...uying-properties-in-some-districts/?style=biz
http://www.thestar.com.my/Business/...uying-properties-in-some-districts/?style=biz
The superb Xchange rate over 2.6 this week will help more JAM.
it's getting cheaper to pay for our purchases then!!
it's in line with the drop in crude worldwide, especially after the latest opec meet in vienna. ron97 is pegged to international rates. petronas 2.46RM per liter.
btw the jam yest coming in @ 2nd link was pretty horrendous.
last night, very long q at woodlands ciq, since it is early, so took a leisurely drive to 2nd link. horrors, got stuck almost 3 hourscleared Tuas at 9 pm.
Though Friday was Johor's day's off, only about 2/3 of booth opened.
Had the thought to go to second link after seeing the first having longer queue than usual, luckily decided to continue queuing. Took 90 mins to clear at Malaysia customs and only 10 mins at Singapore, goodness.
Somebody asked in other forum that since MY govt removed subsidy on ron95, does it means ban on sg cars pumping ron95 is removed/ or still in force?
Ron 95 is GST exempt, while Ron 97 is not. Don't think we can pump Ron 95 now. But it's not a great deal of difference now.
Why SEC investors is panicking? Sharing one report and news on SP Setia................
September 2014 - Kini BiZ
The resignation of acting CEO Voon Tin Yow from SP Setia recently means that the company will be having its third CEO in just over eight months. What is going on in the country’s leading developer?
How long does it take a company to appoint a new chief executive officer (CEO)? And I mean a proper captain to take charge and steer the ship, not a stop gap CEO.
In the case of property behemoth SP Setia, it’s taking forever.
The company has just announced that its current acting CEO Voon Tin Yow will be stepping down effective January 1st 2015, to be replaced by current acting deputy CEO Khor Chap Jen. Khor and Wong Tuck Wai (currently executive vice president) will be taking over arguably the hottest seats in the property business as, you guessed it, acting CEO and acting deputy CEO.
That’s a lot of acting going round in SP Setia, literally and figuratively.
Khor will be SP Setia’s third CEO in just over eight months, after Voon and previous long-serving (non-acting) CEO Liew Kee Sin.
battersea-powerFor a company of its stature – Malaysia’s leading property developer with an estimated RM3 billion annual revenue, one of the largest land banks in the country and a 40% stake in the mammoth RM40 billion Battersea project in London – this managerial dawdling is baffling and unacceptable.
And it’s not like SP Setia has had the rug suddenly pulled out from under its feet.
They have seen this coming since 2012, when PNB (Permodalan Nasional Bhd) decided to acquire a majority shareholding in SP Setia and set off a chain of events that led to the departure of Liew, former head honcho and hitherto face of SP Setia.
Liew’s shadow still looms large in SP Setia, even in his absence.
After the PNB take over, there was a gentleman’s agreement for Liew to stay on for three years to hand over the reins of the company. He stayed on for two years. And he remains the chairman of the Battersea Project Holding Limited Company Limited, at least until September 2015, at the behest of SP Setia chairman Zaki Azmi in the interest of continuity of the high profile UK developer.
But isn’t continuity of leadership at SP Setia equally, if not more, important? Is PNB putting the cart before the horse?
Ever since PNB took over, there have been persistent rumours about SP Setia’s top jobs. Naturally, as the new majority shareholders of SP Setia, PNB will have to decide which direction it wants to take the company. There have been whispers of a mega merger involving SP Setia, Sime Darby and Eastern & Oriental (E&O) and also Jamaludin Osman (current CEO of I&P Group) possibly taking the helm of SP Setia.
So far, none of these rumours have materialised.
The problem is that PNB does not look like it has a proper succession plan in place, even after more than two years of the takeover. The current merry-go-round of acting CEOs only confirms these suspicions. And Liew’s continued involvement in Battersea despite his ouster from SP Setia have confused the public and observers alike who see it as a clear-cut conflict of interest.
Although Liew has not been publicly antagonistic of PNB since the takeover, he has exacted his own quiet retribution, even before he officially left SP Setia. Behind the scenes, he helped set up his new property vehicle Eco World, with his son Liew Tian Xiong and other Liew loyalists such as Abdul Rashid Manaf and Chang Kim Wah helming the new company. Liew is now a director at Eco World.
Reading between the lines of Liew Kee Sin’s recent comments in an interview with BFM radio, it’s would seem that Voon is odds-on to join him with other former SP Setia lieutenants at Eco World. And you can bet that it will not be in an acting capacity.
The exodus of SP Setia staff has spun the running joke that even the janitors and tea ladies in Eco World are wearing SP Setia uniforms. At last count as many as 280 ex-SP Setia staff are said to have joined Eco World.
The Liew saga continues to drag SP Setia and is taking the wind out of its once mighty sails.
And what is PNB doing while this quiet storm continues to rage within the company’s leading property developer?
PNB, the largest fund management company in the country and majority shareholder of SP Setia, is simply content with dragging its heels. This dithering is creating uncertainties in one of its prized assets.
Judging by SP Setia’s slumping stock price recently, shareholders are probably not finding the joke funny anymore. It’s time for PNB to stop the acting, be firm and do something to staunch the bleeding of talent from SP Setia into Eco World.
September 2014 - Kini BiZ
The resignation of acting CEO Voon Tin Yow from SP Setia recently means that the company will be having its third CEO in just over eight months. What is going on in the country’s leading developer?
How long does it take a company to appoint a new chief executive officer (CEO)? And I mean a proper captain to take charge and steer the ship, not a stop gap CEO.
In the case of property behemoth SP Setia, it’s taking forever.
The company has just announced that its current acting CEO Voon Tin Yow will be stepping down effective January 1st 2015, to be replaced by current acting deputy CEO Khor Chap Jen. Khor and Wong Tuck Wai (currently executive vice president) will be taking over arguably the hottest seats in the property business as, you guessed it, acting CEO and acting deputy CEO.
That’s a lot of acting going round in SP Setia, literally and figuratively.
Khor will be SP Setia’s third CEO in just over eight months, after Voon and previous long-serving (non-acting) CEO Liew Kee Sin.
battersea-powerFor a company of its stature – Malaysia’s leading property developer with an estimated RM3 billion annual revenue, one of the largest land banks in the country and a 40% stake in the mammoth RM40 billion Battersea project in London – this managerial dawdling is baffling and unacceptable.
And it’s not like SP Setia has had the rug suddenly pulled out from under its feet.
They have seen this coming since 2012, when PNB (Permodalan Nasional Bhd) decided to acquire a majority shareholding in SP Setia and set off a chain of events that led to the departure of Liew, former head honcho and hitherto face of SP Setia.
Liew’s shadow still looms large in SP Setia, even in his absence.
After the PNB take over, there was a gentleman’s agreement for Liew to stay on for three years to hand over the reins of the company. He stayed on for two years. And he remains the chairman of the Battersea Project Holding Limited Company Limited, at least until September 2015, at the behest of SP Setia chairman Zaki Azmi in the interest of continuity of the high profile UK developer.
But isn’t continuity of leadership at SP Setia equally, if not more, important? Is PNB putting the cart before the horse?
Ever since PNB took over, there have been persistent rumours about SP Setia’s top jobs. Naturally, as the new majority shareholders of SP Setia, PNB will have to decide which direction it wants to take the company. There have been whispers of a mega merger involving SP Setia, Sime Darby and Eastern & Oriental (E&O) and also Jamaludin Osman (current CEO of I&P Group) possibly taking the helm of SP Setia.
So far, none of these rumours have materialised.
The problem is that PNB does not look like it has a proper succession plan in place, even after more than two years of the takeover. The current merry-go-round of acting CEOs only confirms these suspicions. And Liew’s continued involvement in Battersea despite his ouster from SP Setia have confused the public and observers alike who see it as a clear-cut conflict of interest.
Although Liew has not been publicly antagonistic of PNB since the takeover, he has exacted his own quiet retribution, even before he officially left SP Setia. Behind the scenes, he helped set up his new property vehicle Eco World, with his son Liew Tian Xiong and other Liew loyalists such as Abdul Rashid Manaf and Chang Kim Wah helming the new company. Liew is now a director at Eco World.
Reading between the lines of Liew Kee Sin’s recent comments in an interview with BFM radio, it’s would seem that Voon is odds-on to join him with other former SP Setia lieutenants at Eco World. And you can bet that it will not be in an acting capacity.
The exodus of SP Setia staff has spun the running joke that even the janitors and tea ladies in Eco World are wearing SP Setia uniforms. At last count as many as 280 ex-SP Setia staff are said to have joined Eco World.
The Liew saga continues to drag SP Setia and is taking the wind out of its once mighty sails.
And what is PNB doing while this quiet storm continues to rage within the company’s leading property developer?
PNB, the largest fund management company in the country and majority shareholder of SP Setia, is simply content with dragging its heels. This dithering is creating uncertainties in one of its prized assets.
Judging by SP Setia’s slumping stock price recently, shareholders are probably not finding the joke funny anymore. It’s time for PNB to stop the acting, be firm and do something to staunch the bleeding of talent from SP Setia into Eco World.
someone should worry more about his investment in princess cove and BDO as the johor property market stagnates further. Wonder who is worrying and why is one cslong trying his best to talk down SEC? Is he scared he cannot flip his house in P11? if SEC house from big name property developer with G&G and facilities drop to 500k, BDO house will drop to 400k. li te yen hou sor hai.
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Your respond have betrayed you. You indeed seem panicking. I understand how you feel, when initially buy a BMW (Tan Sri SP Setia) but suddenly end up with a proton (PNB). What i can say is .....the corporate world is so cruel....
Was I talking to you?
Bro Malpaso.
Others may find the tone of your response a little 'rude' and 'insulting' and may get offended.
It is unlike you at all. Chill out bro.
