(NaturalNews) Here's the latest on the Fukushima nuclear power plant incident in Japan:

• Releases of radiation from the Fukushima nuclear power plant are "now significant and continuing" said Andre-Claude Lacoste, said the head of France's Nuclear Safety Authority (ASN). (http://news.asiaone.com/News/Latest...)

• A "grayish smoke" cloud was observed coming from the roof of Reactor No. 3, causing an evacuation of all the workers there while Japanese authorities figure out if it's safe to return the workers to the site. It was called an "alarming setback" and provides further evidence of a worsening problem with Reactor No. 3 (where the MOX plutonium fuel is stored). (http://www.nydailynews.com/news/wor...)

• Radioactive contamination has now likely reached to a 100km radius around the Fukushima power plant.

• WHO admits that the radiation leaks from Fukushima are far worse than what the public has so far been told (http://www.speroforum.com/a/50605/W...).

• Power cables have so far been physically rigged to all six reactors, but only one or two coolant pumps are working so far.

• Abnormal levels of radiation continue to be found in Japanese food and milk products.

• The World Bank reports that Japan will need to spend $235 billion to rebuild after the Fukushima disaster. (http://www.washingtonpost.com/world...) Note: Japan currently owns over $800 billion in U.S. debt and may start selling off some of that debt to pay for its rebuilding efforts.

• Two of the six reactors are now considered placed in "cold shutdown," meaning they pose very little risk of further escalations. Reactor No. 3, on the other hand, still poses a threat of what experts are now calling "re-criticality." (A fuel rod meltdown.)


Posted by Mr Thx Tuesday, March 22, 2011 0 comments

SHAH ALAM: Pelaburan Hartanah Bhd (PHB) is looking to expand the size of its Amanah Hartanah Bumiputera (AHB) unit trust scheme to RM1.5bil by year-end from RM1bil now.

According to PHB managing director and chief executive officer Datuk Kamalul Arifin Othman, since AHB was launched last November, more than 95% of the RM1bil fund has been subscribed.

“We need to expand the fund size to promote bumiputra ownership of prime commercial real estate and enhance opportunities for their ownership in high value and strategically located prime commercial properties in major cities,” Kamalul told StarBiz yesterday.

AHB is a fixed-price syariah-compliant real estate backed unit trust. It was designed with a specific objective to provide opportunity for bumiputra investors to participate in the beneficial ownership of real estate assets that would give the investors regular and consistent income streams.

Kamalul said PHB would be taking an “enterprise approach” in its expansion plans as it increased its footprint in the prime commercial real estate sector.

“Moving forward, we are looking to buy more completed and income-yielding assets, expand our landbank and venture into more property development projects,” he added.

To comply with its fund size expansion plan, he said PHB would need to source for new assets to be injected into AHB.

This year, another three to four assets are expected to be added.

Kamalul said the asset procurement through acquisition of completed assets and property development would ensure continuous asset accumulation for PHB.

“The completed assets facilitate immediate injection into AHB, while property development ensures future supply of good assets. This will ensure the fund will be able to meet its commitment to provide investors good and consistent income streams,” he said.

Currently, AHB's property portfolio comprises five assets three office towers, a hypermarket and a warehouse worth a total of over RM1bil.

These properties CP Tower, Wisma Consplant, and 26 Boulevard in Putrajaya; Tesco Setia Alam and a logistic warehouse in Shah Alam provide an average gross annual rental income of RM100mil. All the assets are located in the Klang Valley.

Kamalul said the plan was for PHB to have a market presence in every state throughout the country within the next three years.

“We are open to all good potential markets and income-yielding commercial property that have good tenants occupying the space,” he added.

The company is involved in a joint venture with Malaysian Resources Corp Bhd to undertake the Penang Sentral integrated transportation hub and a retail complex for the Northern Corridor Economic Region. The RM230mil project is expected to be ready in 2014.

PHB also owns three parcels of land including six acres in KL Sentral which is currently being developed into an integrated commercial project comprising a seven-storey green lifestyle retail mall named Nu Sentral and a 27-storey office tower.

The gross development value is estimated at RM1.4bil and it is scheduled to come onstream next year.

PHB also owns a 20-acre site in Bangsar and five acres in Jalan Ampang, Kuala Lumpur. Both parcels are designated for integrated high-end mixed commercial and residential developments that are expected to take off by next year.

“Through our profit-driven initiatives, we aim to achieve competitive returns for our investors,” Kamalul said.

The fund will pay out income distribution twice a year, in April and October. The first will be made in April.


Posted by Mr Thx Thursday, March 3, 2011 0 comments
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