PROPERTY-BASED Jiankun International Bhd and project partner Menara Rezeki Sdn Bhd had a cordial meeting yesterday (Feb 26) with residents of Flat PKNS Jalan Tun Razak (JTR) in Kampong Bharu, Kuala Lumpur to discuss details of their proposed re-development project.
Boasting a gross development value (GDV) of RM1.2 bil, the re-development project will be undertaken by Menara Rezeki Properties Sdn Bhd. Both Jiankun and Menara Rezeki which have 70% and 30% stake in Menara Rezeki Properties respectively are the core developers of the re-development project.
The meeting session was attended by Kuala Lumpur mayor Datuk Seri Mahadi Che Ngah, Bank Rakyat’s head of government/GLC department Norafiza Jamaluddin (who represented the bank’s CEO) and Lyu En, managing director of China State Construction Engineering (M) Sdn Bhd which is the potential main contractor for the re-development project.
“We’re excited with the introduction of Jiankun and Menara Rezeki as the key developers for the re-development project to residents of the Flat PKNS,” commented Jiankun’s executive director Azmi Osman.
“This will help us to move forward with the re-development project as it is vital for the local community to have a clear understanding on the proposed project and how it would benefit the community. We look forward to explain the offer and services that we will be providing to them as well as to have smooth negotiations with the residents.”
According to Azmi, the re-development project entails re-locating existing residents into newly built 52-storey apartment towers as well as a comprehensive compensation for the existing residents.
“It is important that both parties and the residents can communicate via this platform so that the demolition of Flat PKNS Jalan Tun Razak can be done smoothly and responsibly,” he pointed out.
Menara Rezeki Properties’ managing director Datuk Saiful Nizam Mohd Yusoff also stressed that it is vital for a two-way communication to be established at the outset given the main agenda is to add values to the local community through the re-development project.
“Our main objective of the re-development project is to rejuvenate Kampong Bharu, a strategically-located 3.69-acre site bounded on the side by Jalan Tun Razak,” he noted.
“It is a prime site for re-development given its excellent connectivity, infrastructure, public transport, and proximity to Kuala Lumpur’s central business district area. With this re-development project, we will help to add values to the local community including the residents of Flat PKNS.”
On top of that, the multiplier effect of the project will also bring in additional investment into the area which benefits the local community. The strength of the re-development project can be seen by the support from banks in terms of project financing as well as by local authorities.
“As the group and Menara Rezeki move forward with the re-development project, Jiankun is confident that the project will progress according to the scheduled timeline in order to ensure minimum disruption to the residents and the local community,” added Azmi.
At the close of Friday’s (Feb 25) trading, Jiankun was down 1 sen or 5% to 19 sen with 2.7 million shares traded, thus valuing the company at RM41 mil. – Feb 27, 2022
