He told this to reporters after the ground-breaking ceremony of its Platinum Park project in Jalan Stonor here. Faliq declined to elaborate.

In May, Naza Group chairman and CEO SM Faisal SM Nasimuddin said the group was looking at listing Naza TTDI, the group’s fully owned subsidiary, on local or regional bourses.

It was also reported in early 2008 that Naza Group had planned to list Naza TTDI, formerly known as TTDI Development Sdn Bhd, on Bursa Malaysia in the third quarter of 2008 with a market capitalisation of RM850 million.

Prime Minister Datuk Seri Najib Razak officiated the ground-breaking ceremony of the 3.64ha Platinum Park development site yesterday. Platinum Park, with a gross development value (GDV) of  RM4 billion, comprises three high-rise office tower blocks and four high-end condominium blocks.

Naza TTDI has sold a 38-storey office tower in the development to an institutional buyer but Faliq declined to elaborate on the buyer.

The group last year sold a 50-storey office block, dubbed the Felda Tower, to the Federal Land Development Authority (Felda) for RM640.7 million while the other 50-storey tower would be made the Naza Group’s headquarters.

The Platinum Park project is expected to be completed in 2018 while the Naza Tower and Felda Tower would be completed in 2013.

This article appeared in The Edge Financial Daily, July 7, 2009.