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Everyday Elite	30-Oct-2023 21:28        Everyday About Contact  Quote this Post!
x 0   x 0  Alert Admin	Capital World to Resume Trading on SGX-ST Charts New Strategic Direction After Entering into Sale Agreement of RM368 Million Property Portfolio in Johor to MK Mustafa https://links.sgx.com/1.0.0/corporate-announcements/JTDVT637X2RUAQ2F/8928f824bcd25b73dad39309773760bffd8234b3426f46d7ff024036b88dd8bd
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HappyBunny Senior	11-Feb-2023 08:03        HappyBunny About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.sgx.com/mobileapp?action=view&cat=company-announcements&id=1K2Y9NP1W5EZN608 Things moving faster than I expected.
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HappyBunny Senior	28-Jan-2023 22:53        HappyBunny About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Ex CEO is a well regarded architect but quite hopeless running shopping centre with theme park. Even before covid struck, company was selling off various parts of their business to khaki nang at dirt cheap valuations. Creditors chasing them cos really no money to pay up. They would have sold off the Mall earlier if not for covid. And probably at much higher price than what Mustafa is paying for it now. Thanks to covid ? vicloo      ( Date: 28-Jan-2023 22:43) Posted: Yes CWL didnt have any money to run the mall. If you think about it shutting mall down in 2020 - 2021 was a blessing in disgusts... Every running malls in msia n spore burning cash due to covid... Kandee      ( Date: 28-Jan-2023 21:16) Posted: The mall is already completed.  Mustafa needs to refurbish it to their design. CWS was actually a failure as it opened in 2018 and closed in 2020.    Guess the investors who bought units there were in limbo....    Guess Mustafa' s buying unsold units will be a boon for them now.
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vicloo Supreme	28-Jan-2023 22:43        vicloo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes CWL didnt have any money to run the mall. If you think about it shutting mall down in 2020 - 2021 was a blessing in disgusts... Every running malls in msia n spore burning cash due to covid... Kandee      ( Date: 28-Jan-2023 21:16) Posted: The mall is already completed.  Mustafa needs to refurbish it to their design. CWS was actually a failure as it opened in 2018 and closed in 2020.    Guess the investors who bought units there were in limbo....    Guess Mustafa' s buying unsold units will be a boon for them now.  HappyBunny      ( Date: 28-Jan-2023 15:34) Posted: What a turnaround news!! But as usual, must wait for so many things to be done? build 4 storey ? Cold Storage ?building , Govt must agree to selling units/land that are designated as ?Bumiputra only?, 5 mths to complete financial acceptance etc etc. In Apr, jokers likely to say ? trading cannot begin until Sep 2023 .. and if got some hiccup, extend further to end Dec 2023. Mustafa likely to take sizeable bank loan for this deal. And may want to delay till interest rates are down / more favourable. Thought price of share was 0.005cents when trading was suspended. Not 0.5 cents as written in the article.
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Kandee Senior	28-Jan-2023 21:16        Kandee About Contact  Quote this Post!
x 0   x 0  Alert Admin	The mall is already completed.  Mustafa needs to refurbish it to their design. CWS was actually a failure as it opened in 2018 and closed in 2020.    Guess the investors who bought units there were in limbo....    Guess Mustafa' s buying unsold units will be a boon for them now.  HappyBunny      ( Date: 28-Jan-2023 15:34) Posted: What a turnaround news!! But as usual, must wait for so many things to be done? build 4 storey ? Cold Storage ?building , Govt must agree to selling units/land that are designated as ?Bumiputra only?, 5 mths to complete financial acceptance etc etc. In Apr, jokers likely to say ? trading cannot begin until Sep 2023 .. and if got some hiccup, extend further to end Dec 2023. Mustafa likely to take sizeable bank loan for this deal. And may want to delay till interest rates are down / more favourable. Thought price of share was 0.005cents when trading was suspended. Not 0.5 cents as written in the article.
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HappyBunny Senior	28-Jan-2023 21:14        HappyBunny About Contact  Quote this Post!
x 0   x 0  Alert Admin	The requirements to be fulfilled are detailed in the announcement by Capital World Grp. Hopefully, things do go smoothly and we see a new beginning for this counter. I believe the counter will likely be eatten by some bigger property developer once trading starts. vicloo      ( Date: 28-Jan-2023 20:21) Posted: Msia gov gives preference to muslim investment, mustafa is owned by indian Muslim... Dont think it is a problem at all. In addition, 800+ units already sold most to local msians. For bank loan, Mustafa sg yearly revenue is 723mil, refer to mustafa website, 115mil is just fraction of its revenue, plus it should have some cash too... Don't think it is a problem and they must have done financing deal several months ago before filing the annoucement for a 114mil deal in sgx 😁 . HappyBunny      ( Date: 28-Jan-2023 15:34) Posted: What a turnaround news!! But as usual, must wait for so many things to be done? build 4 storey ? Cold Storage ?building , Govt must agree to selling units/land that are designated as ?Bumiputra only?, 5 mths to complete financial acceptance etc etc. In Apr, jokers likely to say ? trading cannot begin until Sep 2023 .. and if got some hiccup, extend further to end Dec 2023. Mustafa likely to take sizeable bank loan for this deal. And may want to delay till interest rates are down / more favourable. Thought price of share was 0.005cents when trading was suspended. Not 0.5 cents as written in the article.
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vicloo Supreme	28-Jan-2023 20:21        vicloo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Msia gov gives preference to muslim investment, mustafa is owned by indian Muslim... Dont think it is a problem at all. In addition, 800+ units already sold most to local msians. For bank loan, Mustafa sg yearly revenue is 723mil, refer to mustafa website, 115mil is just fraction of its revenue, plus it should have some cash too... Don't think it is a problem and they must have done financing deal several months ago before filing the annoucement for a 114mil deal in sgx 😁 . HappyBunny      ( Date: 28-Jan-2023 15:34) Posted: What a turnaround news!! But as usual, must wait for so many things to be done? build 4 storey ? Cold Storage ?building , Govt must agree to selling units/land that are designated as ?Bumiputra only?, 5 mths to complete financial acceptance etc etc. In Apr, jokers likely to say ? trading cannot begin until Sep 2023 .. and if got some hiccup, extend further to end Dec 2023. Mustafa likely to take sizeable bank loan for this deal. And may want to delay till interest rates are down / more favourable. Thought price of share was 0.005cents when trading was suspended. Not 0.5 cents as written in the article.
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vicloo Supreme	28-Jan-2023 20:09        vicloo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Definately Mustafe yearly revenue is 725mil SGD... Very very strong balance sheet, 114Mil spend to buy up 60% of this freehold mall is a bargain. Win win for CWL, with Mustafa coming in, CWL can easily restart the hotel and apartment building, buyers will be keen as mustafa is the strong majority tenant downstair. sure.can.work      ( Date: 28-Jan-2023 19:18) Posted: It' s still better than nothing don' t you think?
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sure.can.work Senior	28-Jan-2023 19:18        sure.can.work About Contact  Quote this Post!
x 0   x 0  Alert Admin	It' s still better than nothing don' t you think?
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HappyBunny Senior	28-Jan-2023 15:34        HappyBunny About Contact  Quote this Post!
x 0   x 0  Alert Admin	What a turnaround news!! But as usual, must wait for so many things to be done? build 4 storey ? Cold Storage ?building , Govt must agree to selling units/land that are designated as ?Bumiputra only?, 5 mths to complete financial acceptance etc etc. In Apr, jokers likely to say ? trading cannot begin until Sep 2023 .. and if got some hiccup, extend further to end Dec 2023. Mustafa likely to take sizeable bank loan for this deal. And may want to delay till interest rates are down / more favourable. Thought price of share was 0.005cents when trading was suspended. Not 0.5 cents as written in the article.
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vicloo Supreme	28-Jan-2023 14:50        vicloo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Capital World to sell most of its space at its Johor mall to Mustafa for RM368 mil Felicia Tan 1/28/2023 ? 12:39 AM GMT+08 ? 3 min read Capital World, on Jan 27, announced that it will sell most of its space, including retail units, at its Capital City Mall in Johor Bahru to retailer Mustafa, for RM368 million ($113.6 million). This is Mustafa?s first foray into the Malaysian market. The 11-storey Capital City Mall is located in Johor Bahru?s Tampoi suburb and was completed in April 2018. It has 1,602 strata-title retail units with a total net lettable area of 902,994 sq ft. The mall is part of a freehold integrated development in Tampoi. The integrated development includes a 315-room hotel, an 18-storey tower with 630 serviced suites, and 690 serviced apartments spanning three blocks. The mall opened in October 2018 but has been shut since February 2020 as the company and one of its key subsidiaries ran into financial difficulties and had to seek court protection from creditors while they restructured their debts. The mall is expected to reopen in the second half of 2023. The assets sold by Capital World include 591 unsold retail units, 374 accessory parcels and 2,181 car parking spaces. The unsold retail units have a combined net lettable area (NLA) of 641,216 sq ft. The 374 accessory parcels, which include alfresco and multipurpose areas, come up to a total of 1.28 million sq ft. The consideration comes after Capital World and Mustafa entered into a commercial option to purchase on Nov 18, 2022. The option took effect a month later. The price is based on the independent valuation report dated Aug 15, 2022. The report was prepared by VPC Alliance (JB) Sdn Bhd. See also: Investors seek to pull US$20 bil from core real estate funds As part of the agreement for the sale, Capital World will also build a four-storey cold storage facility within the mall for Mustafa. Capital World is a property developer that works with land owners on a joint-venture (JV) basis to enhance the value of their real estate assets. The company exited a scheme of arrangement in April 2022 after having restructured about RM187 million of debt. It had about RM166.3 million of net assets as at Sept 30, 2022. For the 1QFY2023 ended Sept 30, 2022, the company made a loss of RM3.3 million. See also: Sceneca Residence, first new launch of 2023, hits 60% sales on first day ADVERTISEMENTSCROLL TO CONTINUE WITH CONTENT Advertisement According to Capital World, the proceeds from the sale will give the company ?the financial muscle to build and complete these remaining components of the integrated development and pursue other real estate opportunities, including helping Mustafa identify potential sites in Malaysia and Indonesia to develop into mega stores?. On the move, Mustaq Ahmad, Mustafa?s managing director says, ?Having established ourselves in Singapore? we believe the time is ripe for us to get into Malaysia, more so now that pandemic restrictions are out of the way.? He adds: ?One of our key challenges until now has been finding an appropriate site. Capital City Mall meets many of the requirements for our first flagship store in Malaysia, given its close proximity to Singapore, ample floor area and ideal floor plates.? Hoo Khee Leng, Capital World?s CEO, says, ?Having Mustafa as a key player in our integrated development is a major catalyst for Capital World as they have what it takes to run a thriving retail business given that they are a household name in Singapore. We fully expect the mall, as well as the rest of the integrated development, to be well received now that international travel has resumed. This deal with Mustafa will also fast-track Capital World?s turnaround and restore value to shareholders as we work towards getting the company?s share trading suspension lifted.? Shares in Capital World last traded 0.5 cent after they were suspended for trading on Feb 14, 2020. The company has till April 30 to submit a trading resumption proposal to the Singapore Exchange Regulation.
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vicloo Supreme	28-Jan-2023 14:44        vicloo About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.theedgesingapore.com/news/property/capital-world-sell-most-its-space-its-johor-mall-mustafa-rm368-mil
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