An artist s impression of the Aotea Central Over Station Development (OSD) in Auckland City centre.
KUALA LUMPUR: CGS-CIMB Equities Research is positive on Malaysian Resources Corp Bhd’s (MRCB) foray into New Zealand with Panuku Development Auckland to undertake a transport-orientated development (TOD) there with a GDV of RM1.3bil.
“This is a positive development for its overseas property development venture and one that leverages on the group s experience in TODs in Malaysia, ” it said on Wednesday.
CGS-CIMB Research said assuming a five to eight-year development period for the mixed commercial and residential project, it estimates an annual revenue of RM163mil to RM260mil per annum.
(MRCB) is making its foray into New Zealand by teaming up Panuku Development Auckland to undertake a transport-orientated development (TOD) there with a gross development value of NZ$452mil (RM1.3bil).
In a statement issued on Tuesday, MRCB said they will develop the Aotea Central Over Station Development (OSD) in Auckland City centre.
The urban regeneration development above the city rail link s Aotea station spreads across 1.08 acres with a total gross floor area of about 45,292 square meters (487,520 square feet).
The site is formerly a car park used for Auckland Council fleet parking at the intersection of Mayoral Drive and Wellesley Street.
KUALA LUMPUR (March 9): Based on corporate announcements and news flow today, companies in focus on Wednesday (March 10) may include: Malaysian Resources Corp Bhd (MRCB), Serba Dinamik Holdings Bhd, Kanger International Bhd, Top Glove Bhd, Star Media Group Bhd, KESM Industries Bhd, MMAG Holdings Bhd, Scientex Bhd, Media Prima Bhd, Komarkcorp Bhd, Daibochi Bhd and Complete Logistics Services Bhd.
Malaysian Resources Corp Bhd (
MRCB) is set to make its mark in New Zealand via a partnership with Panuku Development Auckland to develop the Aotea Central Over Station Development with a gross development value of RM1.3 billion (NZ$452 million) in Auckland City Centre. The urban regeneration development above City Rail Link s Aotea Station spreads across 1.08 acres with a total gross floor area of approximately 45,292 square metres.
MRCB to develop RM1 3b GDV mixed-use project in Auckland theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.