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Showing posts with label Menara Weld. Show all posts
Showing posts with label Menara Weld. Show all posts

Friday, February 1, 2013

Menara Hap Seng - a touch of modern simplicity




The Japanese garden located on the roof of Menara Hap Seng.

Set within the highly desirable and internationally acclaimed Golden Triangle of Kuala Lumpur, Menara Hap Seng is flanked by the majestic KLCC Twin Towers, the eminent KL Tower and the bustling presence of Bukit Bintang. This strategically located building (formerly known as MUI Plaza) was acquired in 2004 and is currently the Hap Seng Group’s corporate headquarters.

The building, which is on Jalan P. Ramlee, is a known landmark in the past and remains iconic till today. Having undergone a major facelift, Menara Hap Seng’s stunning facade and modern interior houses 21 levels of corporate suites.

In addition, there is also The Podium, which has a forecourt with water features, beautiful landscaping and three levels of alfresco dining, restaurants, retail outlets, banks and much more.

The building also boasts a seminar hall, meeting rooms and an auditorium. The Auditorium and Convention Centre in Menara Hap Seng is an addition to the Podium at Menara Hap Seng and seeks to provide a cost effective and flexible alternative to managing seminars and functions. There are two seminar rooms and one auditorium. The Auditorium has a capacity of 350 people while the seminar rooms have flexible arrangements of up to a maximum of 110 and 60 pax respectively.

This year Menara Hap Seng has been awarded the Malaysia Property Award 2009 in the “Office Development Category”.


Hap Seng Land chief executive (property division) Datuk Paul Ng Kee Seng.

“We are really happy and delighted with the win this year. This building has remained an icon on Jalan P. Ramlee and it will always be remembered fondly by the people in the Klang Valley and beyond,” said Hap Seng Land Sdn Bhd’s Chief Executive (Property Division) Datuk Paul Ng Kee Seng.

He further elaborated on the project. “This award has also set a new milestone for the Hap Seng brand. We are a wellestablished brand in the property industry. However, this recognition has brought the brand to greater heights given that we have proven our abilities in refurbishing an old building and giving it a new look and feel.”

Looking at Menara Hap Seng one would recognise the open and bright atmosphere of the building. Surrounded by various shops and dining outlets, its’ simplicity is distinctly unique.

“Menara Hap Seng stands out among the rest because it is able to bring a new vibrant and refreshing ambience into an office space. Its open concept and lifestyle attributes are reflective of our philosophy that office space need not be boring.”

Ng also added, “Menara Hap Seng is a reflection that Malaysians are capable of being innovative and creative when it comes to refurbishing or developing office spaces.”

Going green
In the past few years, the environment has been given much attention, including property development. Menara Hap Seng echoes the green theme by using nature as part of its design in making the office space a better environment to work in. The building has a skylight, which delivers large amounts of sunlight into the Podium. In the morning, the place is lit up with natural sunlight, which effectively saves electricity. The paint used is also environmental friendly.

Ng also said, “The building was old in its design. We took a simplistic or minimalistic concept that can be seen around in nature and emulate it to give Menara Hap Seng a cool and yet vibrant look.”

Ng continued by saying “The design for the office space needs to be highly functional yet appealing to our tenants. As such, it is a positive sign that all our available office space has been taken up, and on top of that, we receive constant request for our office space.”

Best Office Development
An office space must have an aura of comfort and satisfaction for the working person and this is aptly demonstrated at Menara Hap Seng. Ng said, “Menara Hap Seng has everything in one place, from eateries, clothing stores right up to a golf shop; everything is in place making it convenient for tenants,”

Menara Hap Seng has a wonderful concept of having the Podium with all the surrounding outlets in it. It was this concept that was one of the reasons for giving Menara Hap Seng a facelift.

When envisioning the office space, the beauty and practicality was also the main theme in making it unique. “We want to have beauty in simplicity!” said Ng. Many people who come into our building are not our tenants but those in search of food, entertainment, banking or even some retail therapy. The energy and ‘chi’ this building brings is absolutely amazing,” said Ng.

Menara Hap Seng is a unique building with its own characteristics.

The simple and beautiful make of this office space makes the building a benchmark among other office spaces around KL.

Ng continued, “My dream is that Menara Hap Seng starts off Jalan P. Ramlee into a walkway of fun and fiesta. It would be gratifying if the stretch from Menara Hap Seng all the way to Bukit Bintang be called the ‘P. Ramlee Walk’. This building is as iconic as Malaysian’s legendary artist P. Ramlee.”

With dreams and aspirations such as that, no wonder Menara Hap Seng has been made winner in the “Office Development Category.”

An iconic building contributing to the energy in KL, only more can be expected from this dynamic building and its’ plentiful offerings.

By The Star (by Prakash Daniel - Malaysia Property Award 2009 - Best Office Development)

Hap Seng buys half of Menara Citibank, KLCC

Saturday, August 8, 2009


Hap Seng Consolidated Bhd has bought half of Inverfin Sdn Bhd, owner of Menara Citibank in Jalan Ampang, Kuala Lumpur, for about RM310 million. Its subsidiary, Hap Seng Realty Sdn Bhd (HSR) bought all interests in Inverfin owned by CapitalLand Ltd and Amsteel Corp Bhd.

The remaining half of Inverfin is owned by Menara Citi Holding Co Sdn Bhd. A Citibank Malaysia spokesperson said it is not in talks to sell its 50 per cent stake in Inverfin. Late last year it wanted to sell its interest in Inverfin to IOI Corp Bhd but the deal fell through.

The Amsteel stake comprising 2,000,001 shares is presently charged to RHB Investment Bank Bhd. This confirmed a Business Times report on June 30 2009 that Hap Seng was interested to buy half of Menara Citibank.

Inverfin is a special purpose entity and investment company formed for the sole purpose of owning and operating Menara Citibank.

At the end of August 2007, Inverfin issued medium term notes of RM160 million to selected investors where it charged Menara Citibank as security in respect of the notes.

Menara Citibank is built on a parcel of freehold land, measuring 12,694 sq m and has a net lettable area of 68,156 sq m.

Inverfin is the proprietor of Menara Citibank, and shares the use of five levels of basement car parks with the proprietor of an adjacent property known as "Hotel Nikko".

The purchase price of Inverfin is based on 50 per cent of the net asset value of the company as at June 30, after taking into account the agreed property value of Menara Citibank which is fixed at RM607,45 million. It is understood that Hap Seng is paying RM850 per sq ft of lettable area.

The transacted prices of prime office buildings within the Golden Triangle and the Central Business District were in the range of RM800 to RM1,200 per sq ft of lettable area.

The gross rental revenue based on the latest audited accounts of Inverfin for the financial year ended December 31 2008 was approximately RM48.76 million, giving a gross yield of 8.03 per cent.

Inverfin's operating profit was RM38.13 million, giving a net yield of 6.28 per cent. The rental revenue and operating profit are expected to improve with the rent rollover for year 2009 onwards, Hap Seng said in a statement to Bursa yesterday.

Hap Seng said the purchase is consistent with the group's corporate business direction of expanding its property division both for development and investment holding.

Menara Citibank is located in an established commercial precinct and is expected to rise further in popularity.

Hap Seng proposes to borrow from banks up to RM200 million to pay for the purchase, while the balance will be paid by internally generated funds.

With the acquisition, Hap Seng's gearing ratio is expected to increase from 1.06 to 1.14 based on its audited accounts as at December 31 2008.

By Business Times

Seri Maya Condominium, Jalan Jelatek

Seri Maya is a condominium comprising of lowrise and highrise apartments with a total units of 1400 apartment approximately. There are 2 lap pools, 3 gymansiums, 3 children playgrounds and 24hr security. It is located 4km away from KLCC, close to amenities, particularly the Putra LRT Station (the LRT to KLCC & PJ) is situated right opposite Seri Maya. 90% of the occupants are expatriates.

In view of the current economy slowdown, Seri Maya has become an alternative dwellings for KLCC expatriates. There are a lot of tenants (expatriates) migrated from KLCC condo to Seri Maya - reasons being, Seri Maya is easily accessible to KLCC via LRT, expats community, safe living environment, more greens and much more affordable!