Thursday, October 21, 2010

Let us view from the 100th Floor

Comments on the 100-storey tower from the 100th floor

1 comment:

  1. Keep up the good work! Thanks for supplying us with facts and figures. Those who support the project need more bullets to rebuke unsubstantiated resistance.

    In case you didn't come across about it, The Edge Financial Daily dated 21 October 2010 had reported about the project and it's rationalisation through the interview with PNB CEO.

    Essentially as what I've read, the tower will cost between RM 2.5 to 3 billion and the rest of the RM 5 billion allocation will be used for the development surrounding the tower, which include shopping complex and condominiums.

    Profit estimation from the project would be around 8 to 10 percent per annum return of the RM 5 billion investment.

    PNB assured that the money to fund the project derives from the last 3 decades of their internal profit saving. It has got nothing to do with the Government's money nor investor's money.

    Though understandably PNB made their profits based from investors money, but still, logically any investment firms in the world would save some portion from the profit as their reserve fund. After all, that's what being an investment firm is all about.


    -The Tycoon-