Albedo

Albedo: Feature in BT today, where they caution buyers to beware, calling it a speculative punt. The newspaper gave a brief background on Danny Tan, Vincent Tan’s brothers, calling him a Malaysian entrepreneur with more than 30 years of experience in property development, resort management, restaurants, leisure and entertainment operations. Infinite owns Reflections Oasis Inc, which is in the process of buying seven parcels of land with a total area of 267.8 hectares in Gelang Patah, Johor. These agricultural sites have been earmarked for commercial, industrial and residential development. Based on a valuation by Knight Frank Malaysia, the total market value of the properties was about RM2.71b ($1.05b) on Aug 30. Albedo and Infinite Rewards are also in talks for the inclusion of two parcels of land of about 94 ha in the agreement. If the RTO deal is successful, the bets are that the deal will transform the otherwise lacklustre steel trading company into a prominent property player in Iskandar.