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A shortage of qualified Sabah-based contractors has forced the government to turn to firms from other parts of the country for the Pan Borneo Highway project. Tier 1 contractors were supposed to have been assigned to each of the 35 packages of the RM12 billion project stretching over 1,200km. (A Tier 1 contractor must have…

MyHSR Corp Sdn Bhd and Singapore’s Land Transport Authority (LTA) have appointed WSP Engineering Malaysia Sdn Bhd, Mott MacDonald Malaysia Sdn Bhd and Ernst & Young Advisory Services Sdn Bhd to undertake the joint development partner (JDP) contract for the Kuala Lumpur-Singapore high-speed rail (HSR) project. The JDP will develop technical and safety standards for…

Industrialidsed Building Systems (IBS) will invest about RM100 million in its production and research and development facility at the Penang Science Park to become the biggest Swedish investor in Penang. Scheduled to start operation at the end of 2017, IBS expects to create 180 new jobs once its factory is in full production. There are…

Perbadanan PR1MA Malaysia’s newly launched Special PR1MA End Financing (SPEF) scheme is expected to improve loan eligibility for prospective buyers and also increase home ownership among the bottom 40% and middle 40% of Malaysian households. The new scheme which is aimed at easing end-financing, will allow PR1MA home buyers to gain access to a higher…

The new end-financing scheme for successful applicants of the 1Malaysia People’s Housing Programme (PR1MA) must be limited to first-time buyers only, said the National House Buyers Association (HBA). The scheme, which took effect from January 1, 2017, allows PR1MA recipients to get a higher loan with lower monthly instalments. Due to the current economic slowdown,…

It has been reported that the property market is expected to remain subdued for 12 to 18 months and this year will be a buyers’ market during a period of price consolidation but affordable housing will continue to be popular. The main concerns are the oversupply in the commercial sector (office and retail). Low oil…

The medical tourism industry in Malaysia is expected to achieve its targeted revenue of RM1.3 billion in 2017 with the industry experiencing a 30% growth year-on-year. On average, medical travellers’ contributions to the economy were double that of regular tourists. Revenue from medical tourism stood at RM1 billion in the 2016 financial year. Malaysia Healthcare…

Sunway Property’s newly acquired 8.45 acre prime land along Jalan Peel, Kuala Lumpur will be developed into Sunway Velocity TWO. Sunway Property plans to build three linkways between Sunway Velocity and Sunway Velocity TWO. This is in addition to the future connections of both developments to the Cochrane Mass Rapid Transit (MRT) station and the…

Sunway Bhd’s wholly-owned subsidiary Sunway City Sdn Bhd (SunCity) has entered into a joint venture (JV) agreement to develop 8.45 acres of leasehold land at Jalan Peel, Cheras, Kuala Lumpur. SunCity will pay RM500,001 for a 50% plus 1 share stake in Austral Meridian Property Sdn Bhd (AMP), the JV company. SunCity will also advance…

The developer of Bukit Bintang City Centre (BBCC) has indicated that their RM8.7 billion integrated development is getting a substantial amount of interest from potential investors or owners. BBCC is located within the 19.4-acre land in Jalan Hang Tuah, where the Pudu Prison was formerly situated. BBCC Development is jointly owned by UDA Holdings Bhd…

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Jones Lang Wootton