Integrated Sistem Pemantauan Aduan Agensi Awam
| Signing Ceremony Between MRCB & CIMB-Mapletree Real Estate Fund 1 (CMREF 1) |
 |
 |
|
SIGNING CEREMONY BETWEEN MRCB & CIMB-MAPLETREE REAL ESTATE FUND 1 ADDRESS BY TAN SRI NOR MOHAMED YAKCOP HILTON HOTEL
Y Bhg. Dato' Nazir Razak Y Bhg Encik Shahril Ridza Rizduan Yang Mulia Raja Noorma Othman Hadirin yang dihormati sekalian.
Terlebih dahulu, saya ingin mengucapkan setinggi-tinggi tahniah kepada MRCB dan CIMB-Mapletree Management di atas daya usaha mereka yang telah berjaya melancarkan MRCB and CIMB-Mapletree Real Estate Fund 1. Sesungguhnya, pelancaran ini merupakan satu lagi kejayaan dalam usahasama strategik diantara dua syarikat milik Kerajaan. Saya juga ingin mengambil kesempatan ini untuk merakamkan penghargaan kepada CIMB dan MRCB kerana telah menjemput saya ke Majlis pagi ini. Distinguished guests, 2. It is really an honour for me to be here today to mark a key milestone in the collaborative efforts of both the CIMB and MRCB groups. It is particularly heartening to see two of our major GLCs extending their areas of commonality to partner each other towards a common goal. It is a partnership between MRCB and CIMB-Mapletree Real Estate Fund 1 in the development of a 34 storey office tower on a parcel of prime land at KL Sentral, which will be the home for BCHB headquarters. 3. Since its inception in 1997, the Kuala Lumpur Sentral, which is the forefront of MRCB's property development, has become a strong brand presence in our property market. From a mere marshalling yard, it has developed as an active and exclusive urban centre as well as a world class transit hub, providing connectivity for businesses, residents, tourists and the public at large. The modern and futuristic infrastructure at Kuala Lumpur Sentral has also significantly changed the City's skyline. 4. With its prestigious branding, Kuala Lumpur Sentral is now home to several Malaysian and international companies which have relocated their operations here. Apart from having prominent Malaysian organizations, such as UEM, the Suruhanjaya Syarikat and MIDA, located in this exclusive urban centre, Kuala Lumpur Sentral has also successfully attracted several large and reputable world-class organizations. I understand that several top-ranked international companies, such as Samsung, British Telecoms, General Electric, Maxis Mobile, UMW Oil and Gas, PriceWaterhouse Coopers and others, have all taken the decisions to move here. 5. Kuala Lumpur Sentral has also been awarded MSC Cybercentre status to further spearhead efforts at strengthening Malaysia's position as the preferred global location for ICT and multimedia companies. I am confident the MSC status will provide greater opportunities to attract ICT multi-national companies to create a technology hub for Kuala Lumpur. 6. Today, MRCB is a financially strong company and a leading and premier property developer and major construction player in the country. The company has been successful in building power plants, transmission networks, colleges, hospitals as well as roads. This was not always the case. When a new management was brought in August 2001, the MRCB group, including TV3, was weighed down by financial losses and borrowings of more than 4 billion ringgit. The combined market capitalization of MRCB and TV3 at that time was only 750 million ringgit. Following a comprehensive financial and operational restructuring exercise, borrowings have been reduced to below one billion ringgit and the combined market capitalization of MRCB and Media Prima is now 5.2 billion ringgit. 7. In the case of CIMB, since the company launched its transformation program in June 2005, with the merger of Bumiputra-Commerce Bank, it has evolved to become one of the success stories under the GLCs transformation program. It has created value of some 28 billion ringgit, with BCHB's market capitalization increasing from 12.5 billion ringgit to 40.4 billion ringgit. It is currently the third largest company listed on Bursa Malaysia, rising from 11th in 2005. The Group achieved a net profit of 1.5 billion ringgit in 2006, an increase of more than 80 percent from the previous year. 8. CIMB has also made laudable achievements in investment banking, both in the domestic market as well as abroad. Last year, CIMB was ranked fifth in the Asia ex Japan M&A League. It was also ranked as the leading M&A advisor in Singapore. CIMB also led the largest IPO and the largest bond issue in Indonesia. 9. The achievements of CIMB and MRCB speak well of the success of the GLCs transformation in creating competitive, resilient and sustainable corporations, which are rooted in best practice management and possess exemplary corporate governance. These include the adoption of corporate best practices, setting key performance indicators, reform board composition to ensure broader and more balanced representation of expertise, and infuse new talents to enhance professional management. 10. The success of the GLC transformation program, since it was launched in May 2004, has convinced the most skeptical detractors. The largest 20 GLCs (G20) had achieved 60 percent increase in earnings in 2006 compared with the previous year. The G20 market capitalization had also increased by 80 percent or more than 116 billion ringgit, from 145 billion ringgit in May 2004 to 261 billion ringgit at end of June 2007. With these improvements, the GLCs are currently out-performing the KLCI index, indicating clearly that the market is now rewarding companies with improved financial and operational fundamentals. 11. The importance of the GLC transformation program, however, goes beyond the creation of shareholder value. Catalyzing GLC transformation will contribute towards further advancing the nation's economy up the productivity, competitiveness and the value add chain. Indeed, GLCs form the lynchpin and driver of our economy, given their pervasive presence in key sectors of the economy, such as electricity, telecommunications, water, postal services, transportation, plantations, banking and other financial services. The GLC transformation has not only focused on improving short-term profitability, but have also demonstrated longer-term initiatives to invest in growing their businesses and improving services to their customers. The transformation program is key in enhancing Malaysia's capability to compete globally as well as attract greater inflows of foreign investment, particularly in higher value added activities. 12. The journey towards realizing the transformation vision, thus far, has shown remarkable success. As with all change and transformation programs, it is critical to stay on course, adapt where necessary and push forward. As such, the GLC Transformation Program will continue to remain a major policy thrust by the Government in order not only to drive GLCs to the next higher level, but also to strengthen their contribution towards sustaining the nation's growth. Distinguished guests, 13. In concluding, I would like to congratulate MRCB for their successful development and implementation of KL Sentral as an international gateway and global destination, befitting Kuala Lumpur's position as a global destination for business and capital. I would also like to extend my congratulations to CIMB for expanding the breadth and depth of the financial sector in Malaysia. Despite a more competitive environment, CIMB has also made significant inroads abroad. 14. I am confident with the drive, passion, determination and leadership at CIMB and MRCB, this partnership in spearheading institutional real estate investment will reach greater heights and contributes towards your pursuit for greater progress and increased shareholder values. I hope this collaboration will be a show case for GLCs excellence and for the synergies which together, they can create. Hadirin sekalian, 15. Akhir kata, saya sekali lagi ingin merakamkam setinggi-tinggi penghargaan kepada Kumpulan MRCB dan CIMB kerana telah menjemput saya menyaksikan majlis tandatangan pada pagi ini. Saya juga ingin mengucapkan selamat maju jaya kepada MRCB dan CIMB-Mapletree Real Estate Fund 1 dalam usahasama mereka membangunkan sebuah bangunan yang akan menambahkan lagi daya tarikan Kuala Lumpur Sentral sebagai salah satu mercu tanda terkemuka di Bandaraya Kuala Lumpur. Ministry of Finance 27 July 2007 |
| Terakhir Dikemaskini Isnin, 13 Februari 2012 12:01 |
