September 30, 2014 11:16 AM ET

Real Estate Management and Development

Company Overview of Perbadanan Kemajuan Negeri Selangor

Company Overview

Perbadanan Kemajuan Negeri Selangor develops low housing, medium and high cost housing, shops and commercial centres, and factories and industrial lots. It provides environmental management and property management services; operates various hotel chains and cafes; operates a seminar and conference centre; operates a convention centre; offers education services; offers a workspace equipped with business tools and support; provides online services; offers engineering and construction services; trades building materials; and offers insurance and parking services. The company was founded in 1964 and is based in Shah Alam, Malaysia.

Tingkat 2 - 9, Menara HPAIC

Laman Seri Business Park

No. 7, Persiaran Sukan, Seksyen 13

Shah Alam,  40100

Malaysia

Founded in 1964

Phone:

60 3 5520 1234

Fax:

60 3 5510 2186

Key Executives for Perbadanan Kemajuan Negeri Selangor

Deputy General Manager of Technical
Deputy General Manager of Administration and Development
Deputy General Manager of Corporate Affairs
Age: 48
Compensation as of Fiscal Year 2014.

Perbadanan Kemajuan Negeri Selangor Key Developments

Worldwide Holdings's Stake To Be Sold

Datuk Seri Noh Omar, Deputy Chairman of Selangor Barisan Nasional said he had been informed of a possible plan to sell Worldwide Holdings Bhd's shares worth MYR 150 million to an unnamed company whose two shareholders are non-Bumiputera. "What we don't understand is the motive of this transaction. They apparently replaced the company's directors with Perbadanan Kemajuan Negeri Selangor (PKNS)' top officials but the company's shares are still held by the original two non-Bumiputera directors. This gives rise to questions if the plan is to sell the shares to a company fronted by PKNS officials."

PKNS Might Sell Assets

Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim said that Perbadanan Kemajuan Negeri Selangor (PKNS) might sell its assets to cover the cost of expanding its operation. Tan Sri said, "However, it is up to the PKNS Board of Directors to decide."

Perbadanan Kemajuan Reportedly Agrees To Sell Assets

THE Agriculture and Agrobased Industry Minister Datuk Seri Noh Omar said that he obtained the information from “sources” that Perbadanan Kemajuan Negeri Selangor (PKNS) had in principle agreed to sell MYR 321 million worth of assets to unspecified entities. Datuk Seri Noh Omar said he would produce the necessary documents if Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim denied the plan to sell off the properties. Datuk Seri Noh Omar said, “The agreement has not been signed yet. But they have agreed in principle and the transaction is in the final leg. Selangor claims to have a healthy state reserve. So, why do they need to sell off assets now?” He added that the five assets set to be sold off by PKNS includes PKNS Tower for MYR 90 million and PKNS Complex for MYR 85 million, Shah Alam Convention Centre for MYR 97 million, PKNS Complex for MYR 42 million and Wisma Yakin for MYR 7 million. Noh said the corporation has also obtained approvals from their board of directors on the transaction. PKNS general manager Othman Omar denied the assets were up for sale. “We are injecting some of them into a private real estate company owned by PKNS, to upgrade or enhance them. The company will also be used for potential acquisition of other buildings,” said Othman.

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