+603-21612522        

TRADE BALANCE STAYS ABOVE RM9 BILLION IN FEBRUARY 2018

In February 2018, Malaysia’s trade surplus remained above RM9 billion, despite a contraction in both exports and imports during the month. February’s trade balance, officially registered at RM9 billion, was lower compared with the January 2018 figure of RM9.7 billion, as exports and imports fell by 2% and 2.8% year-on-year (Y-o-Y) respectively. This was predominantly attributable to fewer working days and high base effects amid the Chinese New Year festival.

(The Malaysian Reserve, 9/4/2018)


WORLD BANK RAISES MALAYSIA GDP FORECAST

The World Bank has raised its forecast for Malaysia’s 2018 Gross Domestic Product (GDP) growth from 5.2% to 5.4%, on the basis of sustained high levels of private sector expenditure. The World Bank also raised the country’s GDP growth forecast from 4.8% to 5.1% for 2019. Previously in 2017, Malaysia experienced a significant acceleration of growth at 5.9%, supported by a confluence of favourable domestic and external factors.

(NST, 13/4/2018)


MELAKA TACKLING CONGESTION

Construction of the RM9.45 million Limbongan – Klebang Highway, which spans over a 6.3km stretch, is expected to reduce congestion in Melaka city. The Melaka State Government is additionally executing land reclamation to expand the Klebang coastline and plan to erect four overhead bridges between Tesco Melaka Cheng and Pulau Gadong, in order to resolve congestion in Lebuh Alor Gajah-Melaka Tengah-Jasin due to an excessive number of traffic lights).

(NST, 9/4/2018)


NAZA EC SECURES RM450M DBKL PROJECT

Naza Engineering & Construction Sdn Bhd has secured a major upgrading works contract worth RM450 million from the Kuala Lumpur City Hall (DBKL). The project will entail the construction of a single, elevated, southbound three-lane carriageway road over a 2.8km stretch of Jalan Tun Razak linking Jalan Langgak Golf to the Kampung Pandan roundabout.

(NST, 11/4/2018)


VERTICE’S UNIT SECURES RM339 MILLION SUB-CONTRACT

Vertice Bhd’s wholly owned subsidiary, Vertice Construction Sdn Bhd, has been awarded a RM339.85 million sub-contract from San Mutual Majujaya Sdn Bhd for the construction and completion of the mainline and other associated works for the Sungai Besi – Ulu Kelang elevated highway. Construction will be ongoing for 19 months commencing April 16, 2018.

(The Malaysian Reserve, 11/4/2018)


HSS ENGINEERS ARM AWARDED RM290 MILLION MRT JOB

For RM289.89 million, HSS Engineers Bhd (HEB) has been appointed by MRT Corp Sdn Bhd as the independent consultant engineer (ICE) for Line 3 of the Mass Rapid Transit project. The contract commenced on March 6, 2018 and is scheduled for completion in 2026.

(The Sun, The Star & NST, 13/4/2018)


CONSTRUCTION OF ECRL SLIGHTLY AHEAD OF SCHEDULE

According to Malaysia Rail Link Sdn Bhd (MRL), construction of the high-impact East Coast Rail Link (ECRL) Pahse 1 (Kota Bharu – Jelawat – Tok Bali) in Kelantan is progressing slightly ahead of schedule. And MRL is optimistic that Phase 2 will soon be approved. Full-scale infrastructure works for Phase 1 in Kelantan will commence from April 2018, whereas Phase 2 is expected to follow through in a matter of months. At such an accelerated pace, MRL is confident that both phases of the ECRL in Kelantan will be simultaneously completed prior to 2024.

(The Edge Property, 12/4/2018)


NEW INTERCHANGE NOW OPEN

Located at Exit 212A Southville City along the KL – Seremban Expressway, the Southville City interchange is now open to the public. The interchange comprises a 14-lane toll (eight ingress tolls and six egress tolls) equipped with six Touch ‘n Go lanes, four Smart Tag lanes and four multi-class lanes.

(The Star, 13/4/2018)


IKHMAS JAYA SECURES JOBS WORTH RM258 MILLION

On April 6, 2018, Ikhmas Jaya Group Bhd was appointed by Naluri Rezeki Sdn Bhd as the main contractor for upgrading works of the existing Kajang Hospital in Selangor. For a contract sum of RM198.98 million, the project will last for over 36 months. The company was also awarded with a RM58.7 million contract by Putrajaya Ventures Sdn Bhd to demolish a three-storey office building and bungalow on Jalan Ampang, Kuala Lumpur. The 18 month contract also includes the construction of a new two-level parking area.

(The Star & The Sun, 10/4/2018)


YFG SECURES RM55 MILLION ARMY HOUSING PROJECT IN NEGERI SEMBILAN

As part of an army project in Tampin, Negeri Sembilan, YFG Bhd has been awarded a RM55 million contract from Evergreen Platform Sdn Bhd, for the construction of 418 single-storey houses. For a 24-month period, the scope of construction entails the execution of building, infrastructure and landscaping works.

(The Malaysian Reserve & The Edge Property, 11/4/2018)


M K LAND’S RESIDENSI SUASANA @ DAMAI RECORDED OVERWHELMING RESPONSE

MK Land Holdings Berhad’s subsidiary, Medan Prestasi Sdn Bhd (MPSB), has officially commenced the construction of Tower B at “Residensi Suasana @ Damai”. Located on a 5.56 acre plot in Damansara Damai, Petaling Jaya, “Residensi Suasana @ Damai” has a gross development value of approximately RM400 million. Comprising a total of 780 units within three towers, Tower A is expected to be fully completed by September 2019. Built-up areas of the units range between 1,015 sq. ft. and 1,451 sq. ft., with prices commencing at RM450,300.

(The Malaysian Reserve, 9/4/2018)


HOMES FOR MULTI-GENERATIONAL LIVING

By the end of April 2018, Gamuda Land will launch two 30-storey towers housed above a two-storey podium with 34 units of retail shops at “The Amber Residence” in Kota Kemuning. The project comprises 596 units with built-ups ranging between 552 sq. ft. and 1,000 sq. ft., which are priced between RM380,000 and RM658,000 and with a gross development value of approximately RM313 million is scheduled for completion in 2021.

(The Star, 11/4/2018)


SERI PAHANG TENANTS ELIGIBLE FOR NEW UNITS PRICED AT RM42,000

Residents of the PA Seri Pahang flats on Jalan Bukit Bangsar, Kuala Lumpur, are eligible to purchase the “redeveloped” 800 sq. ft. units at RM42,000 per unit. The project is scheduled for completion by 2022.

(The Star, 13/4/2018)


MENARA PRESTIGE FOR SALE AS KFH SEEKS RM700 MILLION – RM750 MILLION

For an asking price of RM700 million to RM750 million, Kuwait Finance House (KFH) is putting up its 36-storey Menara Prestige for sale. Located at the corner of Jalan Pinang and Jalan Ramlee near KLCC, the Grade A office with a net lettable area of 550,000 sq. ft. and over 800 car parking bays is “MSC-ready”, though MSC status has yet to be attained. The asking rent for the building’s lower floors is RM7.50 per sq. ft., whereas higher floors command RM8.50 per sq. ft. Menara Prestige is owned by Prestige Scale Sdn. Bhd. (wholly owned by Intrared Sdn Bhd) and has an occupancy rate of approximately 80%.

(The Edge Property, 7/4/2018)


CORNERSTONE PARTNERS GROUP ACQUIRES 10% STAKE IN CO-WORKING SPACE COLONY

Cornerstone Partners Group has acquired a 10% stake in co-working space, Colony, as its strategy to uncover potential synergies with Colony and the wider hospitality industry. Cornerstone owns hotel assets around Asia including the DoubleTree Resort by Hilton in Penang, the Kimpton in Taipei and the upcoming citizenM in Kuala Lumpur.

(The Edge Property, 9/4/2018)


11STREET CONTINUES TO GROW IN E-COMMERCE

Three years since its inception in April 2015, 11street has developed into Malaysia’s second-largest e-commerce marketplace after having sold more than 13 million products from over 40,000 sellers. In 2018, 11street is optimistically expected to experience a significant advancement in its e-commerce industry, as it recorded a 300% growth in total gross merchandising volume between 2015 and 2017.

(The Malaysian Reserve, 10/4/2018)


TOUGH TIMES AHEAD FOR MALL OPERATORS?

Shopping mall operators and retailers in the Klang Valley are being constantly challenged to stay competitive and keep up with changing spending habits and online shopping trends. The exit of the Parkson department store from the Maju Junction Mall at Jalan Tuanku Abdul Rahman in Kuala Lumpur could be a sign that challenging times are ahead for retail stores in Malaysia. Parkson Holdings Bhd, which operates some 50 stores in the country, announced recently that it was closing its store at Maju Junction. It also announced that it was setting up an outlet at M Square Shopping Mall in Puchong, Selangor. Lower foot traffic, in part due to the current economic climate, may spell trouble for shopping complexes nationwide, but yet there are still mall openings in 2018 and onwards.

In 2018, the largest mall to be opened is Central i-City Shopping Centre at i-City Shah Alam a joint development by I-Berhad and Bangkok-based Central Pattana Public Co Ltd (CPN). CPN Ventures Sdn Bhd is confident that the mall will have an occupancy rate of 100% by the time it open for public access. The company is targeting both local and Thailand-based tenants and take-up from Thai retailers has been good while many Malaysian operators are also eager to set up shop in the mall with its link to a light rapid transit (LRT) station. The mall aspires to integrate and share the strength of two cultures, which are Thai hospitality and Malaysian friendliness. The construction of the six-storey shopping mall, which has a lettable area of 940,000 sq. ft. with about 350 shops, commenced in 2016.

(New Straits Times, 12/4/2018)


WHOLESALE, RETAIL TRADE SALES VALUE UP 7.5% IN FEBRUARY 2018

In February 2018, wholesale and retail trade sales value increased by 7.5% to RM97.3 billion compared with the RM90.5 billion registered in the corresponding period of 2017. The heightened sales value was contributed by positive growth rates of 9.2% (RM39.2 billion) and 7.5% (RM47.6 million) in retail trade and wholesale trade, respectively. On a month-on-month basis, wholesale and retail sales declined by 3.8% from RM101.1billion recorded in January 2018, due to negative sales value recorded by the retail trade, wholesale trade and motor vehicle segments. Sales value encompasses wholesale trade, retail trade and motor vehicle trade.

(The Sun, 13/4/2018)


IREKA, HANKYU HANSHIN TO DEVELOP PROJECT IN NILAI

Ireka Corp Bhd is partnering with Japan’s Hankyu Hanshin Properties Corp to develop “Rimbun Kasia” in Nilai, Negeri Sembilan, which carries a gross development value in excess of RM400 million. “Rimbun Kasia” comprises five residential land parcels and one commercial parcel, spanning across a 30.56 acre site located in the town of Nilai. The joint venture will focus on the development of “Dwi@Rimbun Kasia”, which comprises 382 residential units within a nine-storey block and an additional parcel of land comprising 465 residential units across two blocks of 29 and 19 storeys. The residual land parcels will be developed at subsequent stages following the launch of the first two phases.

(The Edge Property, 9/4/2018; The Sun, The Star & NST, 10/4/2018)


SOUTHVILLE CITY BECKONS GROWING FAMILIES

Southville City is a 428-acre mixed-use township by Mah Sing Group Berhad (MSGB) incorporating gated and guarded stratified and landed residences, neighbourhood retail shops, corporate and and boutique office towers. With a gross development value of approximately RM11.1 billion, previously launched projects within the township include: Savanna Executive Suites, Savanna Lifestyle Shops and Boulevard Shops (Phase 1), Avens Residence (Phase 2) and Cerrado Residential Suites (Phase 3).

To be handed over in 1H18, Savanna Executive Suites are serviced apartments in eight residential towers comprising 3,192 units, with built-up areas ranging between 956 sq. ft. and 1,017 sq. ft. Connected to Savanna Executive Suites are the Savanna Lifestyle Shops, which comprise 208 two-storey lifestyle shop lots with built-ups from 2,610 sq. ft., whereas the Boulevard Shops comprise four blocks of three-storey shops with built-ups from 4,407 sq. ft. Avens Residence consists of 196 units of two-and-a-half-storey and three-storey linked homes, with built-up areas of 2,988 sq. ft. and 3,428 sq. ft. respectively. Scheduled for completion in 2020, Cerrado Suites are situated in four towers comprising 1,616 serviced apartments with built-ups of between 656 sq. ft. and 825 sq. ft. MSGB is focused on launching products priced below RM500,000 to meet the market’s demand for affordable homes and 74% of its 2018 residential sales target is priced below RM500,000.

(StarProperty, 7/4/2018)


TSR CAPITAL TO DEVELOP LUXURY HOMES IN KWASA DAMANSARA

Kwasa Land Sdn Bhd is to partner with TSR Capital Bhd will develop a 6.52 acre site in Kwasa Damansara, referred to as “Plot R3-3”. The project will comprise 260 units of residential properties including link villas, cluster villas, exclusive villas, town villas and condominiums. The development, with a gross development value of RM295 million, is scheduled for completion in 2024,

(The Edge Property, 10/4/2018)


KLCC STAPLED GROUP SIGNED JV FOR FIRST TOD

KLCC Holdings Sdn Bhd formed a joint venture with a third party to develop its first transport oriented development (TOD), which will be tentatively completed in 2022. Located on Jalan Binjai, the mixed development project comprising retail space, office space and a hotel, connecting with mass rapid transit 2 station and a bridge linking KLCC and Bukit Bintang.

(The Edge Property, 12/4/2018)


CHINA DEVELOPER JOINT VENTURES WITH LOCAL COMPANY FOR KL PROJECT

Country Garden, the China-based Fortune Global 500 property development company, has entered into a joint venture with Perdana ParkCity Sdn Bhd to develop a piece of land in Taman Wahyu, Sentul, which is located in the north of Kuala Lumpur, into a mixed development.

(The Star, 13/4/2018)


YONG TAI TO LAUNCH ITS MAIDEN PROJECT IN KL

Yong Tai Bhd is planning to launch its “Impression U-Thant”, which is located on a 1.2 acre freehold site on Jalan U-Thant, Kuala Lumpur. The joint development with KOF Holdings Sdn Bhd comprises 108 residential units with built up sizes ranging between 782 sq. ft. and 1,632 sq. ft. Priced from RM1.3 million, the development is scheduled for completion by the end of 2020.

(The Edge Financial Daily, 13/4/2018)


SPRITZER SPENDING RM65 MILLION TO EXPAND WAREHOUSE, OUTPUT

Bottled water products manufacturer, Spritzer Bhd, has allocated RM65 million for the expansion of its warehousing facilities and to correspondingly amplify its production capacity. In 2018, expansion plans will involve erecting an automated warehouse in Taiping, Perak, at a cost of RM45 million and a RM20 million budget to introduce new production lines at its Shah Alam plant.

(The Star, 9/4/2018)


DFTZ SET TO RECEIVE RM800 MILLION IN INVESTMENTS

Over the next three years, the Digital Free Trade Zone (DFTZ) is expected to receive RM800 million in investments on infrastructure development, facilities, systems and equipment. The DFTZ pioneer project based at the KLIA Air-Cargo Terminal 1 (KACT1) within the KLIA Aeropolis Development and Logistics Cluster is also expected to contribute RM1.6 billion towards the country’s gross domestic product (GDP) and will subsequently generate 6,000 jobs over the next three to four years.

Malaysia Airports Holdings Bhd (MAHB) and Alibaba Group via its logistics unit, Cainiao Network, will develop KLIA Aeropolis DFTZ Park, which sits on a 61.5 acre site within the DFTZ development area. The project is currently in progress and will be handed over to a JV company for facility development, which will be the first Electronic World Trade Platform (eWTP) beyond China. The facility will include a gross floor area (GFA) of 1.2 million sq. ft. for cargo terminals, construction centres, warehouses and operating offices, which are scheduled for completion in 3Q20.00

(NST & The Sun, 10/4/2018)


INDUSTRIAL PRODUCTION UP 3% IN FEBRUARY 2018

Malaysia’s industrial production index (IPI) experienced a 3% year on year (y-o-y) growth rate in February 2018, supported by positive growth in the manufacturing (4.7%) and electricity (2.8%) segments. The mining index recorded a decline of 1.6% whereas the January 2018 IPI was revised upwards to 5.4% from 3% y-o-y. In February 2018, Malaysia recorded a 4.9% augmentation in manufacturing sales to RM62.3 billion compared with RM59.4 billion recorded in the same month of 2017. The significant increase in sales value was due to the expansion in electrical and electronic products (5.7%), petroleum, chemical, rubber and plastic products (6.6%); non-metallic mineral products, basic metal and fabricated metal products (5.1%). The three sub-sectors comprised 80.4% of aggregated sales value for the manufacturing sector.

(The Sun & NST, 12/4/2018)


E-COMMERCE CAN PROPEL MALAYSIA’S TOTAL TRADE TO RM2 TRILLION

In 2018, the e-commerce sector will prospectively amplify Malaysia’s total trade to RM2 trillion from RM1.77 trillion in 2017, given the various incentives provided by the government.

(NST, 11/4/2018)


M101 SEALS RM88 MILLION DEAL WITH 80 BUYERS FOR MONOPOLY-BRAND HOTEL

M101 Holdings Sdn Bhd has secured a RM88 million group purchase deal for the world’s first Monopoly-brand hotel, “Monopoly Mansion by Sirocco” in Bukit Bintang. The boutique 5-star hotel with 255-rooms, with a maximum built-up of 872 sq. ft. and priced at RM1,800 per sq. ft., is situated on Jalan Baba in Bukit Bintang, Kuala Lumpur. Overall, M101 has released 100 units to be sold with 10 units being reserved for local buyers. In total, 80 buyers from China, Taiwan, Japan, Korea, Indonesia, Singapore and Hong Kong have signed agreements with M101 to purchase 80 units of the Monopoly Mansion.

(The Edge Property, 10/4/2018)


ANCASA HOTELS EYES 4-STAR UPGRADE

Ancasa Hotels & Resorts, a component of the UDA Holdings Bhd hotel chain, is seeking a “four-star” hotel status by 4Q18. The hotel operator had allocated RM30 million for upgrading works at the Ancasa Residences in Port Dickson, Negri Sembilan, and the Ancasa Hotel & Spa and AnCasa Express@Pudu, both in Kuala Lumpur. Upgrading works have commenced and are scheduled for completion by 4Q18.

(NST, 10/4/2018)


BIO OSMO TO ACQUIRE SIX HOSPITALITY FIRMS

Bio Osmo Bhd is proposing the acquisition of six companies for RM425.9 million to expand its existing hospitality business. The companies include Impiana Hotels & Resorts Management Sdn Bhd (100% stake for RM70.84 million), Impiana Pangkor Sdn Bhd (100% for RM79 million), Astaka Mekar Sdn Bhd (100% for RM15.83 million), Impiana Cherating Sdn Bhd (100% for RM207.14 million), and Impiana Ipoh Sdn Bhd (100% for RM40.41 million) and Intra Magnum Sdn Bhd (25% for RM12.68 million).

(The Sun, 13/4/2018)


PERMATA HOSPITAL WILL BE OPERATIONAL IN 2018

Construction of the Universiti Kebangsaan Malaysia Permata Children’s Hospital (HKKP) is optimistically expected to be 70% completed by November 30, 2018 and the RM606 million facility is expected to be fully operational by July 1, 2019, with the capacity to accommodate up to 250 beds.

(NST, 11/4/2018)


ENCORE MELAKA THEATRE TO BE OPENED IN 2Q18

Yong Tai Berhad recently announced the opening of the “Encore Melaka Theatre” to the public in 2Q18. The theatre is expected to be a “tourism game-changer” in Melaka, propelling Melaka into the global spotlight.

(StarProperty, 11/4/2018)


SANICHI ACQUIRES JOHOR-BASED REALTY FIRM FOR RM8 MILLION

For RM8 million, Sanichi Technology Bhd is acquiring a 70% stake in a Johor-based realty company, Persada Ternama Sdn Bhd, for purposes of potential profit contributions. Persada Ternama is currently involved in a joint housing and commercial development project with Lembaga Kemajuan Johor Tenggara (Kejora), an agency under the Ministry of Rural and Regional Development Malaysia. The development is to be executed on several parcels of land measuring 234 acres in Kota Tinggi, Johor.

(The Edge Property, 10/4/2018)


SERBA DINAMIK TO JOINTLY DEVELOP PEIP

For RM1.5 million, Serba Dinamik Holdings Bhd will develop Malaysia’s first maintenance, repair and overhaul (MRO) and inspection, repair and maintenance (IRM) Global Centre of Excellence for the oil and gas industry. The 61.8 acre “Pengerang Eco Industrial Park” (PEIP) will be undertaken in three phases as a joint development with Perisind Samudra Sdn Bhd. The first phase of the project has a gross development cost of RM1 billion and is slated for completion in 2020.

(NST, 10/4/2018)


RM13.6 MILLION TAMAN PULAI INDAH MOSQUE LAUNCHED

The Sultan of Johor has launched a RM13.6 million Taman Pulai Indah Mosque in Kangkar Pulai. The mosque is positioned on a 3.95 acre site, which can accommodate up to 3,500 people.

(NST, 7/4/2018)


UTROPOLIS SUCCESS HEADS NORTH

Having launched a pioneer phase for Utropolis Batu Kawan, Paramount Property is focusing on Phase 2 of the “Suasana” serviced apartments, which offers 491 units over two towers and an eight-storey car park podium. This high-rise property contains some homes that come with an accessory parcel or outdoor terrace. These terraces range between 280 sq. ft. and 474 sq. ft., and are exclusively integrated into certain units on the seventh and eighth floors. The built ups of “Suasana” range between 926 sq. ft. and 1,313 sq. ft., with a starting price of RM500,000. Launched in January 2018, “Suasana” is scheduled for completion in December 2021.

(StarProperty, 9/4/2018)


PAY ONLY 1% AND THE REST UPON COMPLETION FOR A CONDO ON PENANG ISLAND

TPPT Sdn Bhd is launching the first block of its latest condominium project, “Emerald Residence” at Teluk Kumbar Heights on Penang Island. The 4.37 acre build-then-sell freehold project comprises three towers offering a total of 411 residences. With a gross development value of RM226 million, built-ups for the units ranges between 1,114 sq. ft. and 1,183 sq. ft., with prices starting from RM476,792. Currently 50% completed, construction works previously commenced in early 2016 and are scheduled to complete in mid-2019.

(The Edge Financial Daily, 13/4/2018)


 

12 MEDICAL RELATED PROJECTS WORTH RM1.6 BILLION FOR PENANG

The Malaysian Government is expected to launch twelve health-related projects worth approximately RM1.6 billion. These include: Kolej Kejururawatan Masyarakat Kepala Batas (Bertam) at a cost of RM79 million, Penang Hospital quarters (RM75 million), Air Putih health clinic (RM30 million), Bandar Perda health clinic (RM25 million), upgrading of the Seberang Jaya Hospital (RM22 million), Tasek Gelugor health clinic and quarters (RM21.5 million) and upgrading the emergency and outpatient department of the Balik Pulau Hospital (RM20 million). Others include phase two upgrading works for the Penang Hospital at a cost of RM19.5 million, Penang Hospital women and children’s block (RM296.98 million), Seberang Jaya Hospital multi-storey block (RM496.2 million), Penang Hospital specialist clinic and wards (RM500 million) and the upgrading of transplant facilities and services for the Penang Hospital (RM19.5 million).

(NST, 12/4/2018)


ZECON PLANS MORE AFFORDABLE HOUSING PROJECTS

Zecon Bhd plans to develop more affordable housing projects in Sarawak as the group seeks to diversify its income base. As a project under the Perumahan Penjawat Awam 1 Malaysia (PPAIM) scheme, construction works are scheduled to commence in June, 2018, with 2,330 double-storey terraced houses to be built for civil servants in Kota Petra. With expected completion in four years, the RM760.8 million project is a low-density (8 to 10 units per acre) landed property development with built up areas of 1,100 sq. ft. (791 units) and 1,300 sq. ft. (1,539 units). Under the provisional approval, the prices of the terraced houses shall not exceed RM300,000 per unit.

(The Star, 9/4/2018)


BOUSTEAD PLANTATIONS BHD IS ACQUIRING OIL PALM ESTATES IN SANDAKAN

For RM750 million, Boustead Plantations Bhd (BPB) is acquiring oil palm estates in Sandakan from Dutaland Bhd. The acquisition of 42 contiguous parcels of plantation land spanning 28,612 acres in Sandakan is held under Dutaland’s unit, Pertama Land & Development Sdn Bhd.

(NST, 13/4/2018)


 

ROAD UPGRADE AND NEW BRIDGE FOR SEMPORNA

The Malaysian Government will be upgrading an 18km road and building a bridge to link Bum-Bum Island to Semporna on the mainland of Sabah. The proposed upgrading / building works are optimistically expected to help transform Semporna into a popular tourist attraction.

(The Sun, 10/4/2018)


 

SABAH PORTS ON EXPANSION TRAIL TO RELOCATE TERMINAL

Suria Capital Holdings Bhd is expanding its cargo operations at the Sapangar Bay Container Port as part of the group’s plan to relocate its general cargo terminal from its limited space at the Kota Kinabalu Port. The new port is currently in its planning stages, with construction expected to commence in 2019 and completion scheduled for 2022. The company is additionally acquiring a 28.9 acre site at the Kota Kinabalu Port for the development of an international cruise terminal, construction of which will commence after the Sapangar Bay cargo facility is completed.

(The Malaysian Reserve, 10/4/2018)

RICS

All rights reserved (C) 2016

Jones Lang Wootton