high end environmental stone crusher sell at a loss in kuala lumpur

high end environmental stone crusher sell at a loss in kuala lumpur

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mergers acquisitions jobs in malaysia | glassdoor

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india disaster highlights pressure on asia's great rivers

A glacial burst that triggered a deadly flash flood in the Indian Himalayas at the weekend was a disaster waiting to happen, and one likely to be repeated in a region transformed by climate change and unchecked infrastructure development, experts warn

Higher temperatures are causing glaciers that feed the rivers to shrink, threatening water supplies and also increasing the chances of landslides and floods, while critics blame dam building and pollution for damaging fragile ecosystems

india disaster highlights pressure on asia's great rivers

"Rivers are really at risk from development projects, dumping of solid waste and liquid waste, sand mining and stone mining," Himanshu Thakkar, from the South Asia Network on Dams, Rivers and People, told AFP

The disaster in India was apparently triggered by a glacial burst, that unleashed a wall of water which barrelled down a valley in Uttarakhand state, destroying bridges and roads and hitting two hydroelectric power plants

It is not yet clear what damaged the glacier and triggered the accident, but there are suspicions that construction of hydro-power projects -- in an area that is highly seismically active -- may have contributed

india disaster highlights pressure on asia's great rivers

Patricia Adams, executive director from Canada-based environmental NGO Probe International, said dam building in such an area was simply too dangerous, as it makes hillsides unstable and causes landslides

There have been other flooding disasters in the region in recent years. In 2013, some 6,000 people died when flash floods and landslides swept away entire villages in Uttarakhand as rivers swollen by monsoon rains overflowed

Last year the Yangtze, Asia's longest waterway, suffered record deluges that killed hundreds of people and submerged thousands of homes, with environmentalists saying it indicated climate change impacts were growing

india disaster highlights pressure on asia's great rivers

The Chinese Communist Party "now control some of the mightiest rivers in the world on which millions and millions of people in downstream neighbouring countries depend for their food, their agriculture, and shipping, and their security", said Adams from Probe International

japanese owner looking to sell hilton kl at above rm1.5m

JAPANESE billionaire Katsumi Tada is seeking a buyer for premium-class Hilton Kuala Lumpur Hotel in KL Sentral, documents show. Tada, who owns the prized asset via Daiso Group’s Daisho Asia Development (M) Sdn Bhd, is believed to be looking at selling the hotel for as much as RM880 million, sources say

Tada, whose net worth is estimated at US$1.7 billion, according to Forbes’ 2017 World’s Billionaires list, has held the asset — touted as one of the most successful hotels in Malaysia — since it opened for business in September 2004

japanese owner looking to sell hilton kl at above rm1.5m

It is worth noting that another guest accommodation asset within KL Sentral — Aloft Kuala Lumpur Sentral — was sold last year. Yet another — Ascott Sentral Kuala Lumpur serviced apartments — is in the process of being sold

An investment memorandum (IM) obtained by The Edge reveals that Savills Hotels and Savills (M) Sdn Bhd have been appointed as the exclusive agent for the sale of Hilton Kuala Lumpur. When contacted, an official with Savills Malaysia declined to comment

According to the IM, the hotel is a freehold property and “has a proven track record in delivering exceptional financial performance. There is clear evidence of sustainable growth in top and bottom lines.” It adds that continued currency depreciation, deregulation of visa requirements for several key Asian countries and increasing tourist arrivals are contributing to the hotel’s growth

japanese owner looking to sell hilton kl at above rm1.5m

The IM also states that the hotel has benefited from being operated by Hilton International under a 15-year management contract and has consistently achieved high occupancy. “However, there is a rare opportunity in 2019 to either continue with the existing operator or to explore other management options,” the memorandum notes

The 35-storey Hilton Kuala Lumpur, which is located near the Nu Sentral shopping mall, occupies 12,342.4 sq m. Its gross floor area, excluding the car park, is 53,696 sq m. It has a total of 10 food and beverage outlets and nine function rooms, offering 2,792.3 sq m of space

It is unclear why Daisho Asia Development is selling the hotel but a description of the group states that “headquartered in Japan with offices in Malaysia, Singapore and Brisbane (Australia), Daisho Asia Development acquires and develops select properties for long-term returns”. The group had purchased the Hilton Kuala Lumpur land in 1996

japanese owner looking to sell hilton kl at above rm1.5m

The IM does not provide a reserve price but checks with industry players reveal that the figure is between RM1.55 million and RM1.75 million per room, which values the hotel at between RM780 million and RM880 million. One source says the yield at that price is between 5% and 6%

No financial information was provided in the IM. “Detailed information on the property, including trading and financial information, building details and ownership structure, is available for review and can be obtained upon execution of a confidentiality agreement,” the document reads

A search on the Companies Commission of Malaysia’s website shows that Daisho Asia Development posted a net loss of RM45.49 million in the financial year ended Dec 31, 2015, on revenue of RM150.16 million. As at the same date, it had accumulated losses of RM45.98 million. Total liabilities accounted for RM375.69 million, of which RM91.65 million were current

japanese owner looking to sell hilton kl at above rm1.5m

Daisho Asia Development is wholly owned by Daisho Development Singapore Pte Ltd. Apart from Tada, the directors of the company include his daughter Yuko Tada, Mamoru Kohda, Hiroshi Oishi and Wong Piang Yoong

Daito is wholly owned by Daito Asia Development Pte Ltd, which in turn comes under Daito Trust Construction Co Ltd. The latter was founded by Tada in 1974 but according to reports, he cut ties with the company in 2011

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