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Thread: Marina Bay Suites (D1, 99 years, Keppel Land)

  1. #91


    'More S'pore properties in KL cows-and-condos scandal'

    Published on Feb 9, 2012

    A showflat photo of Marina Bay Suites, where Ms Shahrizat's family is said to have bought two units. -- PHOTO: MARINA BAY FINANCIAL CENTRE

    By Carolyn Hong, Malaysia Bureau Chief

    KUALA LUMPUR: Embattled Cabinet Minister Shahrizat Jalil was hit by fresh allegations yesterday that her family had bought two luxury condo units in Marina Bay Suites, Singapore for over $7 million each.

    This came just as Ms Shahrizat returned from three weeks' leave to allow the authorities to investigate allegations that her family-run company had misused a RM250 million (S$100 million) government soft loan meant for a cattle breeding project.

    Ms Shahrizat, who has not responded to the latest allegations, said separately that she was called in by the Malaysian Anti-Corruption Commission yesterday for questioning as part of an ongoing probe into the National Feedlot Corp (NFC).

    'I am here as the wife of the National Feedlot Corporation executive chairman Datuk Seri Mohamad Salleh Ismail and I would like to clarify that I am not involved in NFC,' she was quoted as saying by The Star.

    The latest allegation about Singapore condos came from the opposition Parti Keadilan Rakyat (PKR), which made good on its threat to keep up the pressure on Ms Shahrizat, who has refused to resign as Minister of Women, Family and Community Development.

    The scandal comes at a bad time for Prime Minister Najib Razak's government as it gears up for a general election, widely expected in the next few months. Ms Shahrizat is also chief of Mr Najib's Umno party's women's wing.

    PKR strategic director Rafizi Ramli showed reporters two condo titles from the Singapore Land Authority which listed Ms Shahrizat's husband and their son Wan Shahinur Izran Salleh as joint owners.

    He said the purchases were financed with loans from the United Overseas Bank (UOB) and Malayan Banking (Maybank), and alleged that the loans were approved because the family-run NFC and related firms held large bank deposits.

    'The deposits are from the RM250 million fund approved for the operations of NFC which had failed to meet its targets,' he said in a statement. 'This is a purchase that must be investigated by police.'

    Mr Rafizi said NFC had a RM180 million fixed deposit in Maybank in Singapore in 2009 but he did not know if there was a similarly large deposit in UOB.

    In an immediate response, Mr Wan Shahinur Izran said through his Twitter account that the NFC has declared 'everything' to the authorities. He accused Mr Rafizi of trying to draw attention away from PKR's internal problems.

    Ms Shahrizat has come under intense scrutiny since the Auditor-General's report said last October the NFC - an ambitious project tasked with making Malaysia self-sufficient in beef - had missed production targets.

    The opposition, with the help of a whistle-blower, then began disclosing one damaging piece of information after another about the expenditures of the NFC, including the purchase of two luxury condo units in an upscale neighbourhood of Kuala Lumpur and one in Orchard Scotts in Singapore.

    Ms Shahrizat's three children sit on the company board.

    According to the Singapore land titles, Mr Rafizi said, the first Marina Bay Suites condo unit costing $7,114,000 was bought on May 27, 2010. The second one costing $7,117,000 was bought the same day.

    The condo block, with a view of the Marina Bay Sands resort and casino, is close to the Brawn Steakhouse managed by the family firm.

    Mr Rafizi said that based on current 25-year mortgage rates, Ms Shahrizat's family would have to pay RM173,000 a month for both units. 'The bigger question is, how does the family pay back the monthly repayments?' he asked.

    He also said that based on what has been disclosed, the family assets - two Malaysian condo units, three Singapore condo units, a car and two plots of land in Putrajaya - now exceed RM62 million.

    Since her return to work this week after a trip to Mecca, Ms Shahrizat has faced more calls for her resignation, including from within Umno.

  2. #92

    Default Over 90% of units sold, most unoccupied

    Over 90% of units sold, most unoccupied

    Published on Jan 15, 2014

    By Nur Asyiqin Mohamad Salleh And Yeo Sam Jo

    MORE than 90 per cent of units at the 66-storey Marina Bay Suites have been sold - though most remain unoccupied after being snapped up by investors who are not living in them.

    Mr Thomas Tan, director of residential and marketing for Raffles Quay Asset Management which manages the luxury condominium, said there are residents living in only about 20 of the 221 units. So far, 203 units have been sold.

    Property agents told The Straits Times that around half of the owners are wealthy locals while the rest are mainly international buyers from Malaysia, China and Indonesia.

    Developed by a consortium controlled by Keppel Land, Cheung Kong Holdings and Hongkong Land Holdings, Marina Bay Suites boasts bayfront views, spa lounges and massage terraces.

    Agents say units cost $2,700 to $3,000 per sq ft. A three-bedroom unit can go for about $4 million, while a four-bedder can top $6 million. Apartments range from 1,600 sq ft to 2,700 sq ft.

    The development has 108 three-bedroom units - all sold - 110 four-bedroom apartments and three penthouses with private pools, one of which fetched $19.3 million. Each floor typically houses four apartments, each served by a private lift lobby.

    It is understood that if a fire breaks out, all lifts will be sent to the first floor and residents - alerted by an alarm - must evacuate by one of two stairways.

    Some residents were left shaken after Monday's fire. "I am very, very tired," said Mrs Akmam, 40, an Indonesian tourist whose 53rd-floor unit filled with smoke. "I panicked and ran out in just my pyjamas. The lifts were not working so we had to take the stairs. I bought an apartment in Singapore because it is very safe and clean here. But now I want to sell."

    But accountant Hugh Von Bergen stays unfazed. The 55-year- old, whose 24th-floor apartment is three floors down from one of Marina Bay Suites' several refuge floors, said: "It's a very well- designed building. There are staircases that lead to the refuge floor. I don't feel unsafe."

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  3. #93
    Join Date
    Nov 2008


    This condo just TOP. Where got so fast occupied one. Talk cock. Somemore all big units, need some time to find tenants.

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