Boustead Holdings Berhad (MYX:2771)

Boustead Holdings Berhad is a Malaysia-based company, which is engaged in plantation, property, pharmaceutical, heavy industries, trading and industrial, and finance and investment sectors. The Company’s plantation division is involved in the planting of oil palm and processing crude palm oil into palm products and is managed by Boustead Estates Agency Sdn. Bhd., a subsidiary of the Company. The property division consists of property development, property investment and hotel operations. Some of the Company’s property subsidiaries include Boustead Properties Berhad, Boustead Curve Sdn Bhd and Boustead Hotels & Resorts Sdn Bhd. Pharmaceutical division includes the manufacturing of generic pharmaceutical products. Some of its other activities include research and development and warehousing. Heavy industries include ship building and other operations. Trading and industrial division includes the manufacture of fiber. Finance and investment division provides Islamic and banking services.

Official website: www.boustead.com.my

Boustead Joins Ikano For Cheras Shopping Mall

- Boustead Holdings and Ikano will open their second shopping mall together at Jalan Cochrane, Cheras. MyTOWN Shopping Centre will have a Parkson department store, five floors of retail space, a landscaped park and garden outside and event spaces.

- The retail portion has a gross development value (GDV) of approximately RM2 billion while the residential portion, three blocks above the mall has a GDV of RM1 billion.

- Ikea and Parkson will be the anchor tenants. Construction is under way and is expected to be completed by 4Q16.

Significance: Boustead owns 50 acres of land in the Cochrane area which it is planning to develop. Boustead is also developing a residential tower and office towers that are separate projects from the MyTOWN development.

Source: Shares Investment