Dear Friends & Investors,
Yesterday we visited Bandar Springhill of Mui Prop in Negeri Sembilan. About 10 minutes Drive from Seremban is the beutiful Township of Bandar SpringHill. And to our pleasant surprise these are some First Hand Discoveries.
This Township has completed Houses & Shops which are all Sold out. Now New Double Storey & 2 And half Storey Houses are Still Being Launched at less than Rm500K a unit. They are very spacious & well built houses of quality. These are value for money.
Of the 2 Storey Shop houses launched for Sale – All were taken up except corner 3 Storey Units Priced at Rm900,000 which are still available for sale.
We met Mr Yee the Sales Officer at Bandar Springhill Sales Office. He told us that there are over 2,000 Acres of Freehold Lands in Bandar Springhill of which half have been built up & sold.
The remaining 1,000 over acres are designated for Commercial Shops, Hotels & A Huge University. Upon more detailed explanation he told us that the Seremban – PD Highway cuts across the Original Lands of Bandar Springhill. So the eastern part has almost been fully developed. The remaining lands on the Left Side are designated for more Commercial Usage.
And these Lands are located less than 5km from the Boom Town of Bandar Sendayan.
Ha! We looked up the Annual Report of MUI PROP to calculate the Land Size & Its Book Value
Here are the facts and figures
State of Negeri Sembilan Darul Khusus…………………………………………………5,218,300 sq meter……………………………………………………..Rm133,244,000
Balance of freehold land held for township
development known as Bandar Springhill at Mukim of
Jimah, District of Port Dickson,
Negeri Sembilan Darul Khusus
(Date of acquisition: January 1995)
So there lands were purchase in year 1995 ( 22 years ago) Still stated at Old Book Value
Now for its value
5,218,3000 sq meter. To convert to Sq Ft multiply by 10.764
So 5,218,300 x 10.764 = 56,168,781.2 sq ft
Book Value is Rm133.244 Milllions
How much per sq ft?
So Rm133,244,000 divides by 56,168,781.2 = Rm2.37
WOWEE!! ONLY RM2.37 PSF (VERY CHEAP INDEED!)
It is no wonder at all. All Mui Group Assets carry their Cost at Old Book Value (TOTALLY HIDDEN GEMS OF WEALTH & DEEP VALUE)
And these Are Going For Commercial Use.
What Are the Current Commercial Land Values in Seremban, Port Dickson or Bandar Sendayan?
Anywhere between Rm25 psf to Rm50 psf depending on its location, terrain & its surrounding ambience.
So Mui Prop lands have Great Immense Value & Potential. And Majority Owner of MuiProp is Mui Bhd.
- SEREMBAN.- PD HIGHWAY EXITS LEFT INTO BANDAR SPRINGHILL
Click on photo to enlarge view
2) ROW OF HOUSES IN BANDAR SPRINGFIELD
3) 2 STOREY NEW SHOW HOUSES BY MUI PROPERTY
4) THIS NEPALI GUARD IS PAID RM1,600 A MONTH (A princely sum in his country)
5) BEAUTIFUL 2 1/2 STOREY SHOWHOUSES (AT RM550K IT IS VALUE FOR MONEY!) Actually 2 Storey 22×70 feet with a Very Nice Rooftop Garden
6) VERY SPACIOUS INTERIOR. No additional renovation needed as Kitchen & Back are All Fully Built up.
7) 2 STOREY SHOPHOUSES ALL SOLD. ONLY ENDLOT 3 STOREY AVAILABLE ATRM900,000. The Original Cost of 2 Storey shops over Rm400K have appreciated to Rm600K & nobody is selling. Future looks promising.
8) AN OVERVIEW OF BANDAR SPRINGHILL (TOTAL OVER 2,000 ACRES)
9) A HAPPY MR YEE, MANAGING SALES. SHOWING THUMBS UP!
Towards Mr Yee’s left are Houses & Shops Almost Fully Developed
And on Mr Yee’s right are over 1,000 Acres for Commercial Shops, Shopping Malls, Hotels & A Huge University
The University will be ready by next year.
10) MUI PROP SALES OFFICE. Mui Prop is a high quality developer of some of the finest houses.
11) UCSI INTERNATIONAL SCHOOL IN BANDAR SPRINGHILL
A MUCH BIGGER UNIVERSITY NOW UNDER CONSTRUCTION
Additional Facts on Bandar Springhill
- BANDAR SPRINGHILL IS LOCATED WITHIN THE MALAYSIAN VISION VALLEY IN THE NEXT PHASE OF GROWTH AFTER GREATER KL
2. The Highspeed Rail Station is located in Labis, Negeri Sembilan. The Commercial Phase of Bandar Springhill will be only 15 minutes to 20 minutes away. In Japan – lands near Shinkansen HSR Station automatically goes up in Value by 46% when An HSR Station is built nearby
3. With LAND BANKS Valued at only RM2.37 MUIPROP is sitting on Gold Mines.
Mui Bhd owns over 70% of MUIPROP Shares. Another 15% owns by Top 30 Shareholders. So only 15% MuiProp shares are left in Free Float.