Keladi/FCW ... Gear Up To Catch Up Next Upcycle In High End Property !!

Speculation that the company would venture into developing high end properties following the proposed purchase of a prime tract of land in the Klang Valley.

The rm192 million on purchase from GBH would give Keladi ownership of a 14 acre tract of land in Segambut which is close to Mont Kiara township.

The transfer of land from GBH to Keladi is part of an asset unlocking exercise initiated by Tan Sri Robert Tan who is a substantial shareholder in both companies.

Tan is keen to slowly unlock the value of his companies’ prime tracts in the surrounding area.

In Sept 2013, Tan’s 25.5% owned FCW has entered into a JV with IJM Land Bhd to turn four parcels of land in Segambut into a mixed residential development.

The four parcels of land sits next to the one currently (July 2014) being sold to Keladi Maju.

Keladi were mostly involved in developing low to medium cost housing projects in the past, meaning that a JV arrangement would give it the expertise to develop a luxury residential project in Segambut.

It seems like the right time for FCW as well as Keladi to gear up to catch the next upcycle in the high end property market after the cooling measures have subsided.