Monday, September 11, 2006

KLCCP & Kassets- Error noted

On August 30, I've posted a piece entitled KLCCP & Kassets- Which is more attractive?

Subsequently, I've discovered that the background information for Kassets was incorrect. In the earlier post, I have stated:

Kassets is the owner of the Mid-Valley Megamall as well as a few other buildings located next to it. In total, the properties owned by Kassets are valued at RM1.68 billion (valuation was carried out in QE 31/3/2006). While the value of Kassets’ properties owned maybe smaller, this will be given a boost when the new phase of Mid-Valley Megamall is completed in 2008.

I have learned from the current issue of The Edge newsletter [w/e Sep 11] that Kassets owns only the Mid-Valley Megamall. The other components of the Mid-Valley project such as the 4-star Boulevard Hotel, 3-star Cititel Hotel, Menara IGB, Centrepoint North & South office towers plus the Phase 2 of the Mid-Valley project such as the upscale shopping mall (known as The Garden), another 2 office blocks, a 5-star hotel & a block of upmarket service apartment are all held directly under Kassets' parent company i.e. IGB.

I regret making this error & will strive to do better in the future.

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