【HOHUP 5169 交流专区】和合建筑

Mr.Business

Lim Ching Choy入驻HOHUP，可以留意。

Ho Hup appoints former Magna Prima CEO as group MD                    
Tuesday, 02 June 2009 10:39  

KUALA LUMPUR: Ho Hup Construction Company Bhd, a main board-listed property developer and construction company, has appointed Magna PrimaBhd’s former chief executive officer Lim Ching Choy as its new groupmanaging director.

In a statement yesterday, Ho Hup said Lim was revered for his forwardthinking approaches to turning companies into not just profit-making organisations but also international award-winning companies. It said Lim joined the group with highly reputable experience in the banking line, property development and construction industry.

“In the past I have spearheaded bold changes within an organisation which have led to greater profits,returns and branding for a company,” said Lim,who on May 14, 2009 resigned as Magna Prima CEO, a position he had held since Nov 1, 2006.

“Of course I am always motivated by challenge, the bigger the challenge the more passionate I am in achieving the intended end-result. My goal at HoHup is to take on this new challenge and turn around a company of 50 years old, which is older than me.”

From 1996 to June 2002, Limwas the CEO of Alliance Finance Bhd, formerly Bolton Finance Bhd. He was also the executive director and CEO of another property developer, MahSing Group Bhd,from July 2002 to October 2006.

http://www.theedgemalaysia.com/business-news/15458-ho-hup-appoints-former-magna-prima-ceo-as-group-md.html

[ 本帖最后由 Mr.Business 于 16-6-2009 12:23 PM 编辑 ]

Mr.Business

Lim Ching Choy 是不是Datuk Steven Lee Kian Seng的马仔？



Its CEO Lim Ching Choy and group managing director Datuk Steven Lee Kian Seng resigned in May. Lim is now the group managing director of Ho Hup Construction Co Bhd.

http://www.btimes.com.my/Current ... es/Magna11/Article/

Mr.Business

mcsmg88

Lim Ching Choy这人很厉害的吗？
HOHUP会给他带起？？？

alexleong

版主知道为什么林进才要离开Magna吗？最近Magna的股跟Warrant都跌了很多。

thierry_henry

不知hohup 会脫离pn17吗?
根据资料，它是去年1/8/2008中pn17.
过后股价最低０．２４，昨天高起至０．６５

Lim Ching Choy何许人也，为何需要特别留意？

hdcyng

Ho Hup

Ho HupConstruction Co Bhd, which is in a legal tussle with thegovernment of Madagascarover a terminated 400km road developmentproject, is eager to settle thedispute amicably and revive the venture.

It wants tosettle the matter out of court.

In 2004, the Madagascargovernment awarded Ho Hup construction contractsworth US$60mil for the roadproject which was largely funded by theWorld Bank. However, the project gotterminated in February 2006 andmachinery worth RM40mil was confiscated.

In September2006, Ho Hup commenced an arbitration claim to recoverdamages for loss ofprofits and unlawful termination amounting toUS$40mil (RM140mil). This isinclusive of the reimbursement of US$13mildisbursed to the Madagascargovernment by Ho Hup’s banker CIMB Bank in2008.

The Madagascargovernment submitted a counterclaim amounting to US$42mil(RM147mil) and thesuit is pending decision at the International Courtof Arbitration under theRules of the International Chamber of Commerce,in Paris.

For Ho Hup, aPN17 company with liabilities amounting to RM280.9mil as at March 31, a losswould have devastating consequences.

u346018

没想到这只股大家会有兴趣。
自从老老板过世后就一蹶不振。

等我去探探消息。

Mr.Business

我相信林进才是其中一位大老板的马仔。大老板换码头，林进才也跟着换。从Magna的经验来看，抄作的机会是有的。

公司起死回生，对股价刺激很大的。

Noobita

HoHup 差不多是空了...

股友

托您老的福，俺已经下注了一些。现在虚量拉升，很像当年的magna。

bukit jalil 那块宝地，如好好的规划是无限潜能的。去kl，pj，puchong，cheras，ampang不用给toll。除了bandar kinrara 是最靠近的新镇就没有他人了。现在的project是jalil sutera 排屋。不知道bjland还有没有地库在bukit jalil。

Mr.Business

新闻。

Ho Hup drafting turnaround strategy
By Sharen Kaur
Published: 2009/06/29

The three-year business plan will see the company operating under three business entities - construction, property development and trading of ready-mix

Property and construction company Ho Hup Construction Co Bhd (5169) said it is drafting a three-year business plan that will see it return to profitability next year and ensure that its profitability will continue into the future.

The plan will see the company operating under three business entities - construction, property development and trading of ready-mix - to be headed by three individuals who will lead a team of staff to drive up sales.

"Each head of division will have to come up with their own business plan, which I will enhance to ensure that they are profitable from day one. I will monitor their progress every two weeks," Ho Hup group managing director Lim Ching Choy told Business Times.

"At the end of the day, I am here to make profits for the company and enhance shareholders value. Two years from now, we may have a dividend policy," he said.
Lim, formerly the chief executive officer (CEO) of property developer Magna Prima Bhd, took helm at Ho Hup on June 1 2009.

Dubbed "the turnaround man", he was asked to helm Ho Hup by its major shareholders to return it to profitability.

The company has been in the red since 2006. In the fiscal year ended December 31 2008, its net loss was RM56.2 million.

Lim said he has been spearheading Ho Hup's corporate restructuring to reduce debt, inject new capital and generate revenue since he took office.

"You need six months to reposition, turn around and overhaul the business of an ailing company. I will be doing a lot of things in the next six months what other people have not done in the last five years. I believe a good working philosophy and commitment from myself is important to make things work in a short span of time," Lim said.

Lim, who was in banking for 22 years, had turned around loss-making Magna Prima in 12 months. Prior to that, he had rebranded and repositioned Mah Sing Group Bhd in 18 months.

He was involved in both companies for 30 months and four-and-a-half years, respectively.

"I may stay longer in Ho Hup. It has all the licences for any kind of construction jobs. That alone is encouraging and rewarding," Lim said.

Ho Hup is betting on its RM2 billion Jalil City development in Bandar Bukit Jalil, Kuala Lumpur, and new jobs to return to the black next year.

The 24ha project, which will be launched in the fourth quarter, is poised to contribute 60-70 per cent of the company's revenue per year, starting from 2010.

It features 176 shop-offices housed in four- to eight-storey buildings, a hypermarket, a piazza, 2,000 serviced condominium units, and a Grade A office building.

"We will launch the offices worth RM600 million in two phases. We hope to complete sales in a year. We have more than 100 registrations," Lim said.

Ho Hup will also launch 20 semi-detached houses in Bandar Bukit Jalil, worth RM1.5 million each or RM30 million in total, in September.

Apart from residential projects, it will look to clinch government contracts involving infrastructure and high value construction works, and develop mega projects as it had previously.

Ho Hup has bid for government and private sector road and related infrastructure jobs worth RM500 million and hopes to get one or two this year.

Its ready-mix business is also set to improve as it is reactivating its eight plants in Terengganu, Klang, Bukit Jalil and Jinjang to increase volume. The unit is expected to generate RM6 million in revenue this year.

http://www.btimes.com.my/Current ... /Article/index_html

Mr.Business

新闻。

Ho Hup confident of PN17 exit by early 2010
By Sharen Kaur
Published: 2009/06/29

HO HUP Construction Co Bhd (5169) aims to move out of PN17 classification by the end of 2009 or early next year, its group managing director Lim Ching Choy said.

AmMerchant Bank Bhd is now advising the property and construction company on its restructuring exercise.

"Based on advice from AmMerchant, we have a strong possibility of moving out of PN17 with the cash flow and business model that we have in place," Lim told Business Times.

PN17 stands for Practice Note 17/2005 and essentially means a listed company is in financial trouble, either because successive losses have eroded its shareholders' funds, receivers and managers have been appointed, or the company has ceased its business operations.
Loss-making Ho Hup is expected to reduce its debts of RM113 million to RM60 million by the first quarter of next year through a capital injection and sale of non-core assets, saving it RM4 million.

It is also banking on its Jalil City property development in Kuala Lumpur to pay off the rest of its borrowings in five years.

"My reason for coming into this company was because I saw a lot of potential in its construction and property development divisions. We are looking at many potential jobs and studying them to see if they our viable for us to commit to," Lim said.

Lim, 49, added that Ho Hup will continue to construct buildings, highways, roads, dams, reservoirs and water treatment plants.

The company, which has been involved in the construction industry for 49 years, will focus on Malaysia so the projects could be better managed and there would be less risks in terms of payment and completing the jobs on time.

Lim, however, did not discount the possibility of entering India or other Asian markets in the future.

Ho Hup had been involved in several projects in India before, involving mega infrastructure projects, and Madagascar.

"Before I joined Ho Hup I studied all its past and present positions to see whether I would have the ability to turn it around without hitches. I believe in the company and know it will grow to the level it was before. There must be commitment from all parties and confidence from shareholders," Lim said.

Ho Hup was co-founded in 1960 by the late Low Chee, who has been the main driving force behind the company's development, growth and expansion.

The company's involvement in the various fields of building and civil engineering has seen it successfully completing numerous contracts from both the private and government sectors like TNB, PLUS, JKR, Petronas, DBKL, UDA Holdings, PKNS and KTMB.

In April 1973, Ho Hup changed its status from a partnership to a private limited company, and was converted to a public limited company in 1991.

http://www.btimes.com.my/Current ... /Article/index_html

Mr.Business

新闻。

Ho Hup: New jobs to help bring back profits
By Sharen Kaur
Published: 2009/06/18

PROPERTY and construction firm Ho Hup Construction Co Bhd (5169) is betting on its RM2 billion Jalil City development and new jobs to return to profitability next year.

Group managing director Lim Ching Choy said at a media briefing yesterday that it had bid for five road projects worth RM500 million and hoped to get one or two jobs this year.

He said that Ho Hup's ready-mix business was set to improve as it reactivated its eight plants in Terengganu, Klang, Bukit Jalil and Jinjang to increase volume and generate RM6 million in revenue this year.

The group's property, construction and ready-mix divisions are expected to contribute 30 per cent, 8 per cent and 5 per cent profit margins respectively.
Lim, who joined Ho Hup on June 1, is spearheading its corporate restructuring to reduce debt, inject new capital, sell non-core assets and generate revenue to become profitable.

The financially troubled firm has been in the red since 2006. In the fiscal year ended December 31 2008, its net loss was RM56.2 million.

Ho Hup is gearing to launch Jalil City in Bukit Jalil in the fourth quarter, which will help in its turnaround.

Lim said his immediate plan was to reduce the company's debt to RM60 million, from RM113 million, by the first quarter of next year.

This will be done through a capital injection and sale of non-core assets, saving it RM4 million. Ho Hup is banking on Jalil City to pay off the rest of its borrowings in five years.

The 24ha Jalil City is poised to contribute 60 per cent to 70 per cent of revenue a year, Lim added.

"Ho Hup is facing cash flow problem. When you have cash flow, the margins are different. We have a diamond which needs to be polished. I will monitor the cash flow on a weekly basis. Since I came in, I have generated RM3 million in cash," he said.

Jalil City, to be developed over six years, will feature 176 shop-offices housed in four- to eight-storey buildings, a hypermarket, a piazza, 2,000 serviced condominium units, and a Grade A office building.

According to Lim, Ho Hup will launch the shop-offices, worth RM600 million, by December, concurrently with the 400,000 sq ft hypermarket and condominiums.

It hopes to lease the hypermarket to Carrefour, Tesco or Giant before the launch.

Lim also told Business Times that Ho Hup will retain the office building, piazza, hypermarket and several of the shop-offices as investments, giving it a new income stream.

He said Ho Hup stood to close three en bloc deals by December for some of the shop-offices.

http://www.btimes.com.my/Current ... /Article/index_html

卓瑪

原帖由 股友 于 17-6-2009 11:02 AM 发表
托您老的福，俺已经下注了一些。现在虚量拉升，很像当年的magna。

bukit jalil 那块宝地，如好好的规划是无限潜能的。去kl，pj，puchong，cheras，ampang不用给toll。除了bandar kinrara 是最靠近的新镇就没有他人 ...

仙家我跟住你上船了。

Mr.Business

Ho Hup may develop Bukit Jalil land
By Kamarul Yunus
Published: 2009/07/09

HO HUP Construction Co Bhd (5169)may jointly develop its 4.3ha land in Bukit Jalil after shareholders blocked a plan to sell the piece of property.

Ho Hup wanted to sell the land to Permata Juang (M) Sdn Bhd, a unit of Magna Prima Bhd, in a related party transaction for RM19.4 million.

Its deputy executive chairman Datuk Lye Ek Seang is also a director of Magna, while its current managing director Lim Ching Choy was a former executive director in Magna up to May 14.

The freehold land in Bandar Bukit Jalil cost Ho Hup RM11.82 million, and a sale would have brought in a gain of RM7.58 million.
Ho Hup, bleeding red ink since 2006, had proposed the sale to help pare down RM104.52 million debts.

"We withdrew (the resolution) because we did not have enough shareholders' support. We need time to pass (the resolution). We will look for options ... sell the land or find a joint-venture partner to develop the land," Lim said after Ho Hup's extraordinary general meeting in Petaling Jaya yesterday.

Shareholders, however, approved another resolution to sell 2.2ha of land in Bukit Jalil to Santari Sdn Bhd for RM9.8 million.

Lim also said that in the next six months, the company expects to generate revenue by asset sales as well as developing the remaining 24ha of land it still has in Bukit Jalil.

"This 24ha land is earmarked for a mixed development, comprising shop apartments, lifestyle piazza and office blocks. We expect to launch the development by next year," he said.

Lim declined to disclose the gross development value of the project, but it was learnt that it is valued at RM1.6 billion.

Elsewhere, Ho Hup is also looking to build some 20 units of semi-detached houses in Bukit Jalil, valued at RM30 million. The project is expected to be launched in September this year.

"We are also active in Madagascar, whereby we have got back our machinery, valued at RM21 million. We are now pursuing machinery rental to get income from there.

"We have started negotiations with interested parties. Once contracts are finalise, we will make an announcement," he said.

Moving forward, he said Ho Hup will focus on its core businesses of construction, property and trading, including the rental business in Madagascar.

He said the company expects its property business to contribute between 70 per cent and 80 per cent to the group's revenue.

http://www.btimes.com.my/Current ... /Article/index_html

wwloon32

林进财……
这个人有点可疑，
之前是在Bolton旗下的Finance （Allianze）那里担任CEO工作，
后来公司转名字就正式出任CEO，一年后就走人，
跳去Mahsing后发展高级房屋，据说是在Mahsing转型前跳过去帮忙转型，
后来于2006年离开了公司，再去Magna 那里工作，然后2007年又离开那里去这公司，
Ho Hup……若这世界上跳槽例子的话，这个人是典型了。
跳来跳去都是做CEO，真奇怪。

Mr.Business

和合建筑放眼3年内 产业发展占80%营收 2009/07/08 17:53:34
●南洋商报

（格拉那再也8日讯）和合建筑（HoHup，5169，主板建筑股）将积极参与产业发展项目，放眼在接下来的3年内，产业发展业务将成为主要的营业额来源，比重高达70至80％。

和合建筑董事经理林进财指出：“我们透过现有旗下多项产业发展项目，在接下来的3年内，产业发展业务将成为集团首要的营业额贡献来源。”

该公司现有核心业务，主要是建筑、产业发展及贸易业务。

他是在今日出席和合建筑的股东特别大会后，向媒体作出上述表示。

该集团现于武吉加里尔持有60英亩的地段，计划用来发展综合式商业发展项目，包括商店、服务式公寓、以及生活广场。由于该计划仍在策划当中，他不愿披露相关发展总值数额。该计划预计将在明年推介。

他说，“我们计划在接下来的6个月内，从产业销售获取更大的营业额，包括现有产业及位于加里尔苏特拉（Jalil Sutera），总值高达3000万令吉的20间独立洋房。”

该公司在股东特别大会上，获得股东一致通过，以总值982万9045令吉的价码，脱售旗下70％子公司——武吉加里尔发展所持有的一块位于吉隆坡县八打灵区永久地契地段，占地5.503英亩。

该公司计划将脱售地库所筹集的款项，用以偿还银行贷款及作为营运资本。

尽管如此，另一块位于上述地段近邻的10.865英亩地段，则因属于相关人士交易而没有获得股东批准，原本所建议的脱售价为1940万8371令吉。因此，该公司计划重新呈交脱售建议书，或寻求联营伙伴一同发展。

http://www.nanyang.com/index.php?ch=7&pg=12&ac=977122

Mr.Business

新闻。

Update Ho Hup’s land sale hits a snag         

Written by Tony C H Goh   
Thursday, 09 July 2009 11:42

KUALA LUMPUR: The plan by Ho Hup Construction Co Bhd to sell a piece of land in Bukit Jalil was dealt a blow yesterday when shareholders refused to endorse the sale to Permata Pejuang Sdn Bhd (PPSB) for RM19.4 million, as it involved related party transaction.

PPSB is a subsidiary of Magna Prima Bhd, a Second Board-listed property developer where Ho Hup’s deputy executive chairman, Datuk Lye Ek Seang, is a director.

“The sale was contentious as there are concerns about related party transaction. The resolution was withdrawn before the actual vote, as we believe it was not likely to be approved. We will look at other options to sell the land but it will take time,” Ho Hup’s managing director Lim Ching Choy said after the company’s EGM here yesterday.

Lim was an executive director of Magna Prima up to May 14, 2009. He joined Ho Hup on June 1.  

Ho Hup’s initial investment in the 10.865 acres (4.4ha) of freehold land in Bandar Bukit Jalil, which it acquired in 1995, was RM11.82 million. The disposal, if approved, would have brought the company a RM7.58 million gain. However, shareholders approved Ho Hup’s proposal to sell another piece of land, measuring 5.5 acres, also in Bandar Bukit Jalil, to Santari Sdn Bhd for RM9.23 million.

It was reported in September last year that Ho Hup was considering selling or developing a 6.5-hectare residential land in Bukit Jalil to raise funds.

It had expected to raise RM29.24 million to reduce its borrowings, which stood at RM104.5 million at end-2008.

Ho Hup, which has been under PN17 since July last year, had proposed the land disposals to shore up its finances, following the emergence of Extreme System Sdn Bhd (ESSB) as its major shareholder last August with a 28% stake. Lye’s wife Datin Viannie Damit controls ESSB.

The entry of ESSB led to the exit of Ho Hup’s former managing director Datuk Low Tuck Choy from the company’s board and management in August last year, though Low’s family still owns a 24.7% stake in the company.  

Ho Hup, the country’s oldest construction firm, has been in the red since 2006. According to Lim, the current management is trying to focus on reviving the company’s three core businesses — construction, trading of ready mix and property development.  

The present management is betting on the RM2 billion Jalil City development project in Bandar Bukit Jalil to turn around Ho Hup’s fortune.

The company has also revived its eight ready-mix plants in Terengganu, and Klang, Bukit Jalil and Jinjang in the Klang Valley. The division is expected to contribute RM6 million in revenue this year.

In a statement to Bursa Malaysia yesterday, Ho Hup also announced the resignation of Low Kim Leng as the company’s independent and non-executive director.

http://www.theedgemalaysia.com/b ... le-hits-a-snag.html

thierry_henry

经过你这一番註解,
我更相信林进财的能力了.