EPF: RM4.86 BILLION INVESTED IN SMALL AND MEDIUM CAP STOCKS
The Employees Provident Fund (EPF) has invested a total of RM4.86 billion in small and medium capitalised stocks in Malaysia. The equities portfolio remains the largest contributor to the retirement fund’s income, recording an 8% increase from RM309.48 billion in 2016 to RM334.23 billion as at the end of December 2017. As at the end of 2017, EPF invested in 192 small and medium cap companies, with persistent determination to uncover exceptional companies to add to its existing portfolio.
(The Sun, 25/04/2018)
TWENTY-THREE 11MP PROJECTS WORTH RM4.7 BILLION IN PERAK
A total of 23 high-impact projects worth RM4.7 billion have been implemented in Perak via the 11th Malaysia Plan (11MP), whereby ten projects worth RM1.84 billion were executed by the Public Works Department. Additionally, ten projects worth RM646 million were embarked on by the Natural Resources and Environment Ministry, which entailed flood-mitigation, river corridor restoration, raising drainage systems and river basin development projects. The Energy, Green Technology and Water Ministry have allocated RM2.24 billion to the implementation of three high-impact projects. A large proportion of the 23 projects are currently under construction.
REIT MANAGERS ASSOCIATION WELCOMES SC, BURSA MOVES
The Malaysian REIT Managers Association (MRMA) commends the Securities Commission of Malaysia (SC) and Bursa Malaysia for undertaking proactive measures to liberalise the Malaysian Real Estate Investment Trust (M-REIT) market. This was executed via the issuance of “New Guidelines on Real Estate Investment Trusts” and updates on “Main Market Listing Requirements”. These revisions aid in facilitating M-REIT market growth by addressing regulatory gaps between M-REITs and other established regional REIT markets. Correspondingly, a catalyst in driving M-REIT market growth will be evident due to the flexibility accorded to the REITs in acquiring vacant land to undertake property development. Under the present property market milieu, acquisitions by M-REITs are often hindered by pricing expectation gaps between the purchaser and vendor.
(The Star, 25/04/2018)
PERAK TO BENEFIT FROM RM5 BILLION HIGHWAY
With a total cost of RM5.044 million, construction of the West Coast Expressway (WCE) from Banting in Selangor to Taiping in Perak, is scheduled for completion in August 2019. Elevated interchanges will be built in Hutan Melintang, Teluk Intan, Kampung Lekir, South Sitiawan, North Sitiawan, Changkat Cermin, West Kinta, Beruas, Trong (interchange A130) and South Taiping.
MORE FLIGHTS WITHIN SABAH AND SARAWAK
AirAsia Bhd is planning to expand its domestic operations, which currently contributes approximately 40% to its aggregated revenue, via intercity flights within Sabah and Sarawak. The company is working with authorities and state governments to expand its rights to fly internally within Sabah and Sarawak.
(The Sun, 23/04/2018)
MRT LINE 2 WORKS AHEAD OF SCHEDULE
Construction of the Mass Rapid Transit (MRT) Sungai Buloh-Serdang-Putrajaya (SSP) line is ahead of its schedule by weeks, with its overall progress currently standing in excess of 24%. The first phase of MRT SSP was scheduled to be operational by 3Q21, prior to its full completion in late 2022. The SSP alignment will span 52.2km, with a demarcation of 38.7km dedicated to elevated tracks and the remaining 13.5km running through underground tunnels.
(The Sun, 24/04/2018)
M-CYCLE LANE, FLYOVER TO BE READY IN JUNE 2018
Works on the motorcycle lane and flyover along the Federal Highway is 82% complete and is scheduled to open in June 2018. Costing RM29 million, the project, covering both directions, spans a 60m stretch which is prone to flash floods and will make it safer for motorcyclists.
ENSURING BETTER CONNECTIVITY
The 390km Central Spine Road (CSR), which connects Bentong, Pahang, to Kota Baru, Kelantan, will reduce travel time and serve as an alternative route to Kelantan. The dual carriageway stretch will improve connectivity between the east and west coasts of Peninsular Malaysia. The six connectivity phases within the CSR will include routes from Kuala Krai to Jambatan Sungai Lakit, both located in Kelantan (51km); Jambatan Sungai Lakit to Gua Musang, Kelantan (63km); Gua Musang to Kampung Relong, Pahang (107km); Kampung Relong to Raub, Pahang (56km); Raub to Bentong, Pahang (60km); and Bentong to Simpang Pelangai, Pahang (53km). Costing approximately RM11 billion, construction works are currently 35% completed.
KLIA TO EXPAND CAPACITY TO 150 MILLION PASSENGERS
Malaysia Airports Holdings plans to double Kuala Lumpur International Airport’s (KLIA) capacity as it seeks a bigger slice of the 2.1 billion more passengers expected in Asia Pacific in the next two decades. The company is expecting to raise the capacity to 150 million, from the current 75 million, in the next couple of decades. Along with neighbouring cities Bangkok and Singapore Kuala Lumpur is seeking to expand airport capacity as routes in Asia Pacific are set to become among the world’s busiest, according to the International Air Transport Association.
KIP REIT LOOKING TO DIVERSIFY INTO LOGISTICS ASSETS
Though immaterialised, KIP Real Estate Investment Trust (REIT) is seeking diversification into either logistics or warehouse assets. KIP REIT additionally plans on purchasing an asset in Kota Warisan, Sepang, for which it has the first “right of refusal” up until the financial year ending June 30, 2019. The REIT is to purchase the asset from its promoter, KIP Group of Companies, to raise assets under management (AUM) from RM680 million to RM2 billion. The purchase however, will only be executed if the asset’s occupancy rate reaches 85%, from the current 70%.
(The Malaysian Reserve & The Edge Property, 24/04/2018)
PPB ACQUIRES LTAT STAKE IN HILLCREST
PPB Group Bhd is acquiring Armed Forces Fund Board’s (LTAT) entire 16.8% stake in property development company, Hillcrest Gardens Sdn Bhd for RM59 million,. Hillcrest owns 147.78 acres of freehold land in Taman Seri Gombak and Taman Puchong Utama, both in Selangor. PPB Group said the acquisition would enable the company to expand its investment in property-based activities and continue diversifying its source of earnings.
(The Star & The Sun, 27/04/2018)
MATRIX CONCEPTS TO COMPLETE PROJECT IN 2019
Matrix Concepts Holdings Bhd is expected to complete the “Ara Sendayan” residential project in Seremban in 2019. With prices starting from RM609,888, the four phase project comprises 1,400 double-storey link houses on 192.7 acres of land. Two phases comprising more than 800 units have already been launched and 400 units in Phase 1 have been fully sold.
(The Star, 23/04/2018)
SP SETIA, SETIA HARUMAN UNDERTAKE SECOND CYBERJAYA DEVELOPMENT
SP Setia Bhd has acquired 57 acres of freehold land in Cyberjaya, Selangor from Setia Haruman Sdn Bhd, the master developer of Cyberjaya, for RM177.5 million, which will be developed into a residential area with an expected gross development value of RM650 million. The land will be developed by the joint venture (JV) company between SP Setia (70%) and Setia Haruman (30%). The project is expected to commence in 2H19 pending approvals and is expected to take about six years to complete. It will be developed into an eco-themed sanctuary, emulating the existing Setia Eco Glades in Cyberjaya.
(The Edge Property, 27/04/2018)
SUBSIDIES TO SUKA MENANTI PPR BUYERS
The Malaysian Government has launched 500 units of “Suka Menanti People’s Housing Project” (PPR) homes in Alor Merah, with construction scheduled to commence in July 2018. Priced at RM217,000, the government will provide a RM182,000 subsidy to buyers, whereas the remaining RM35,000 will be contributed by the purchasers of the units.
MELAKA HAS “THE BEST PRICED AFFORDABLE HOUSING” IN MALAYSIA
Melaka has been recognised as the state that provides affordable housing with the best pricing at an approximated amount of RM80,000, whereas standard housing costs circa RM120,000. The Melaka State Government has planned to build 58,000 affordable housing units in Melaka, whereby 38,000 have been completed and the remaining 20,000 are currently under construction. Further housing programmes in Melaka include the “people-friendly homes”, housing for public sector employees and MGOHOME (Melaka Government Officers Homes).
TRINITY GROUP TO LAUNCH RM600 PER SQ. FT. CONDOMINIUMS IN MONT’KIARA
In 3Q18, Trinity Group Sdn Bhd will be launching its latest “Trinity Pentamont” condominium project on Jalan Kiara 5 in Mont’Kiara, Kuala Lumpur. The project is named Pentamont because “every unit in the development is like a penthouse and the name is a combination of the words penthouse and Mont’Kiara”. Each of the 330 units will have a built-up of 2,057 sq. ft, inclusive of three car park bays and there will be an additional six units within the development with sizes up to 4,000 sq. ft. with six car parks bays each. Sitting on a 2.9 acre freehold site, the 41-storey project has an estimated gross development value of RM400 million. Unit prices start from RM600 per sq. ft. and the project is scheduled to be completed in 2022.
(The Edge Financial Daily, 27/04/2018)
UEM SUNRISE TO HAND OVER MONT’KIARA CONDOMINIUM PROJECT BY JUNE 2019
UEM Sunrise Bhd is expected to grant vacant possession to purchasers of its “Residensi Sefina Mont’Kiara” condominium development (with a gross development value of RM307 million) in Mont’Kiara by June 2019. Launched in May 2015, “Residensi Sefina” sits on 3.06 acres of land and features a 35-storey building comprising 245 condominium units, which have been fully sold. There are three types of built-ups ranging between 1,333 sq. ft. and 1,771 sq. ft. and prices ranged between RM1.06 million and RM1.52 million.
(The Edge Property, 25/04/2018)
UOA REIT CAUTIOUS ON EXPENDITURE IN 2018
In 2018, UOA Real Estate Investment Trust (REIT) is expected to remain cautious on expenditure and new office asset acquisitions, as demand persists to outstrip supply amid higher interest rates. UOA REIT is to adopt a subdued expenditure pattern due to intensified interest rates and will additionally circumvent plans to acquire or dispose of any assets in the immediate future. Currently, UOA REIT’s overall average occupancy rate for its six asset portfolio is hovering at approximately 84%. These assets include the UOA Centre, UOA II, UOA Damansara, Wisma UOA Pantai, Wisma UOA Damansara II and Menara UOA Bangsar. With regards to the average occupancy rate for each individual asset, occupancy rates ranged between 80% and 96%, with the exception of Wisma UOA Pantai, which was at 51%.
(The Malaysian Reserve, 25/04/2018)
27 RETAILERS OPERATING IN ECO ARDENCE LABS
Setia Alam’s newest commercial hub, Eco Ardence Labs, has been operating with 27 retail outlets since March 2017. Located on 26.9 acres of land, operational brands include: Jaya Grocer, Cocomomo pet hotel, Mini Wespo, Masterclean, Healthlane, i1 Fitness, Cykel & Cyclist, Famous Kleener, Nyonya Heritage, Tato Tato, Piacevole, Mich’sology, Tealive, Llao llao, U-Mai, AROI Mak Mak, U Bistro, Laughing Monkey, Kebab Bowl, Lets Joy Cafe, Hinata Cafe, Big Blind, Bamboo Biryani and Chaiwala & Co.
LAZADA READY TO LEAD IN REPLICATING CHINA SUCCESS
Malaysia’s e-commerce sector is expanding at a similar pace as that of China in 2008, which many viewed as the starting point for Asia’s largest economy to become a major global player. Lazada is therefore equipped in seizing the lead to replicate China’s success both in Malaysia and wider Southeast Asia. Malaysia is primed to replicate that success given its high penetration into the smart phone market and it being backed by a cohesive e-commerce landscape.
FASHIONVALET TO LIST ON BURSA
FashionValet (FV), one of South-East Asia’s leading fashion e-commerce platforms, will be further augmenting the calibre of its company by listing on Bursa Malaysia within the next few years. Following the closure of a Series C investment from sovereign fund, Khazanah Nasional Bhd, FV is planning for further physical market expansion and wider digital penetration. FV recently raised an unspecified amount from the fund, which would be utilised for technological infrastructure upgrades and the opening of additional brick-and-mortar retail locations, in order to elevate the company’s presence in Malaysia and South-East Asia.
(The Malaysian Reserve, 25/04/2018)
TEXCHEM ALLOCATES RM25 MILLION TO EXPAND RESTAURANTS
In 2018, Texchem Resources Bhd will spend approximately RM25 million in setting-up 20 Sushi King and 3 Hoshino Coffee outlets in Malaysia. Hoshino Coffee is the latest addition to the restaurant business, whereby the first two outlets were opened at Mid-Valley and Queensbay Mall in Penang in 2017. In 2018, Texchem will open two Hoshino outlets in Kuala Lumpur and one additional outlet in Penang. For approximately RM80 million, the company plans on opening 80 Sushi King outlets in Malaysia by 2021.
(The Star, 25/04/2018)
ACCSOFT TO DEBUT E-COMMERCE PLATFORM IN 2H18
By 2H18, Accsoft Technology Bhd (soon to be referred to as Lambo Group Bhd) intends on initiating an e-commerce platform in Malaysia to assist local manufacturers in exploring the market in China. Accsoft is scheduled to launch in either June or July 2018 and is currently in talks with several manufacturers and companies. Accsoft is currently investigating the logistics and delivery services segment as it strategises on executing its own independent delivery to customers in Malaysia.
(The Malaysian Reserve, 25/04/2018)
CMMT POSTS LOWER 1QFY18 NPI ON LOWER CONTRIBUTION FROM KLANG VALLEY MALLS
Capitaland Malaysia Mall Trust’s (CMMT) net property income (NPI) fell by 4.5% Y-o-Y in the first quarter of its financial year 2018 (1QFY18), due to lower contributions from its Klang Valley shopping malls and one office tower. NPI came in at RM57.045 million during the quarter that ended March 31, 2018 (1QFY18), from RM59.716 million a year ago, as dwindling contributions from Sungei Wang, Tropicana City Property and The Mines, offset higher rental rates achieved from Gurney Plaza and the East Coast Mall. Quarterly revenue experienced an overall 2.9% contraction from RM92.44 million to RM89.73 million, rental reversion was however positive at 2.2% and portfolio occupancy was stable at 93.7% as of March 31, 2018.
In order to further develop tenant mix diversity in malls, CMMT is expanding food and beverage options at Level 3 of “The Mines” and Tropicana City Mall’s ground floor. Upon completion of enhancement works in 2QFY18, international fashion labels will be available at Level 1 of the East Coast Mall. CMMT plans to reconfigure Sungei Wang Mall’s annex space into a vibrant and energetic lifestyle zone which will complement retail offerings in the Bukit Bintang / KLCC shopping belt. The annex space will be rebranded as “Jumpa” and is targeted for completion by 1QFY19.
(The Edge Property, 25/04/2018)
RETAIL SECTOR TO IMPROVE POST GE14
The Malaysian Retailers Association (MRA) optimistically expects the sluggish local retail market to pick up, subsequent to Malaysia’s 14th general election on May 9, 2018. Post-election, consumer spending is projected to improve as Malaysians will focus on their own economic future and “release pent-up demand”. Retailers are foreseeing improvements in consumer spending as take-home pay improves, providing consumers with enhanced confidence on their future finances.
(The Edge Property, 26/04/2018)
PRG VENTURING INTO LUXURY CLOTHING BUSINESS VIA UNIT
Property developer, PRG Holdings Bhd, is venturing into the luxury clothing business via its 75% owned unit, Furniweb Holdings Ltd, which is listed on the Hong Kong stock exchange. Furniweb signed a letter of intent with Philipp Plein International AG and Plein Sport AG, to initially open shops in Singapore, Malaysia and Thailand. The Philipp Plein group is based in Switzerland and is a luxury goods conglomerate in the international fashion industry. It designs, manufactures and retails high-class apparel (including lifestyle apparel and sportswear).
(NST & The Star, 27/04/2018)
NEW BRANDS STILL MOVE INTO MALAYSIA DESPITE CLOSURE CONCERNS
To date, approximately 95 foreign brands have made their debut in the Malaysian retail market since 2017. Last year, 71 brands from 17 countries set up in Malaysia, including 13 from Taiwan and 12 from South Korea. Approximately 62% of them are in the F&B sector, whereas approximately 75% of them have set up stores in the Klang Valley and 15% in Johor. The market also witnessed the closure of various foreign specialty stores such as Tous Les Jours Bakery, Nature Republic, Tim Ho Wan and Bubba Gump Shrimp Co. In 2018, 24 foreign brands from 13 countries have set up their first outlets in Malaysia, mainly located in the Klang Valley, Johor, Pahang and Seremban, with the majority of them originating from Singapore and Taiwan. The retail growth rate projected by Retail Group Malaysia stands at 4.7%, whereas on a quarterly basis, the retail growth rate is estimated to grow at 5.4% (1Q18) and 3.7% (2Q18).
(The Edge Financial Daily, 27/04/2018)
PPA1M PROJECT INVOLVING THREE PHASES
The Malaysian Government has launched the “1Malaysia Civil Servants Housing Scheme” (PPA1M) Bukit Pinang in Kampung Padang Tembak, Kedah. The project comprises 3 phases of mixed housing schemes, with prices ranging from RM173,560 to RM355,360. Phase 1 involves the construction of 183 double storey terraced houses. Phase 2 comprises four 10-storey apartment blocks with 504 units, a two-storey community building with nine shop lots, a cafeteria, kindergarten, multipurpose hall, library and a surau. Finally, Phase 3 will entail the construction of 172 double storey terraced houses.
PPC SECURES RM322 MILLION CONTRACT
Putra Perdana Construction Sdn Bhd (PPC) has secured a RM322 million contract from BBCC (Bukit Bintang City Centre) Development Sdn Bhd to construct Parcel 2 of the BBCC main building. Located on 2.41 acres of land, BBCC Parcel 2 will comprise one 43-storey strata office building and one entertainment centre. The entertainment centre will contain four floors of retail space and a two floor Cineplex, a banquet hall floor, main lobby floor, music presentation centre, ample parking facilities and two floors of mezzanine hotel facilities. The construction of Parcel 2 will tentatively commence on May 2, 2018, with completion due on August 1, 2020.
(The Star & NST, 25/04/2018)
AXIS REIT ACQUIRES PROPERTY IN SHAH ALAM FOR RM87 MILLION
For RM87 million, Axis REIT Managers Bhd is acquiring a freehold industrial property in Shah Alam from Teraju Sinar Sdn Bhd (TSSB). Several properties were erected on two adjoining parcels of land, which comprise four warehouses, a double-storey detached office building, a double-storey canteen and two guardhouses. Upon completion of the acquisition, the property will be leased back to TSSB for six years.
(The Star, 24/04/2018)
WESTPORTS WILL INVEST RM15 BILLION TO DOUBLE CAPACITY
Westports Holdings Bhd will invest RM15 billion to double its container handling capacity to approximately 30 million twenty-foot equivalent units per annum by 2040. The expansion, comprising an additional 10 terminals at a cost of RM10 billion to RM15 billion. The proposed expansion of an additional 10 terminals is an extension of Westports’ current CT1 to CT9 development, the first phase of which will be undertaken from 2019 to 2024.
(The Star, 25/04/2018)
MIDA SIGNED DEAL WITH DAHER, IOT VALLEY
Malaysian Investment Development Authority (MIDA) has signed a tripartite pact with Daher and France’s IoT Valley. The pact was established to promote improved investment and business cooperation between France and Malaysia, particularly in the development of “Internet-of-Things” (IoT) and logistics in Malaysia’s aerospace industry. The participation of Daher, a key player in Industry 4.0 and a global aerospace service provider is expected to help to create and support the development of new innovative solutions in line with the Malaysian Aerospace Industry Blueprint 2030. Moreover, IoT Valley will leverage on its dedicated ecosystem of IoT companies to provide digital and network support.
LB ALUMINIUM TO BUY SUBANG JAYA INDUSTRIAL PROPERTY FOR RM25 MILLION
LB Aluminium Bhd’s wholly owned subsidiary, Albe Metal Sdn Bhd (AMSB), is acquiring a piece of industrial land along with an industrial complex in Sungai Penaga Industrial Park, Subang Jaya, Selangor, from Facade Treatment Engineering Sdn Bhd for RM25 million. The industrial complex comprises a 2-storey office building, a 2-storey detached factory, two 1-storey detached factories and a guard house. AMSB additionally entered into a three year tenancy agreement for Facade Treatment to rent the property at a rental rate of RM125,000 per month. The proposed acquisition is scheduled for completion by 3Q18.
(The Edge Property, 25/04/2018)
NTP BOOSTS MEDICAL TOURISM
Under the National Transformation Programme’s (NTP) healthcare initiatives, Malaysia has been recognised as an international medical and health tourism attraction since 2015. The recognition was bestowed by the International Medical Travel Journal and has helped make Malaysia a popular destination for healthcare tourists from countries such as Indonesia, Myanmar, China and Vietnam. In 2017, more than one million healthcare tourists visited Malaysia, which translated into domestic hospital revenue standing at RM1.3 billion, with optimistic expectations of hitting RM2.8 billion in revenue by 2020.
BAGAN DATUK IN PERAK TO HAVE RM75 MILLION RESORT
Scheduled for completion by 2020, the construction of “Teedo Resort” on 148 acres of land near the town of Bagan Datuk, Perak will be funded by private firm, Al-Falah Foundation, at a cost of approximately RM75 million. “Teedo” will be operated by Nour Hotel & Resorts and will offer 150 rooms and 100 chalet pods, three seminar rooms, shops, a main hall for up to 500 seated people, a gymnasium and a swimming pool. With a total gross development cost of approximately RM250 million, the resort will house a commercial zone, theme park, restaurants and a training centre.
QUEENSLAND INTERNATIONAL SCHOOL TO SET UP IN NILAI
The first “Queensland International School” will be built in Nilai with programmes designed to attract both local and foreign students. Located next to GD Group’s “Residensi Lili” development, the school, on 8 acres of land, with costs of construction and facilities ranging between RM250 million and RM300 million, is expected to be fully operational within two to three years.
(The Star, 23/04/2018)
CONSTRUCTION OF PENDANG MEDICAL CENTRE TO COMMENCE IN MAY 2018
Construction works for the 22 acre Pendang Hospital project in Kampung Manggol Pauh, Kedah will commence in May 2018. Costing approximately RM210 million, the four-storey, “partially – specialist” hospital is scheduled for completion in November 2021. The 126 bed hospital will comprise thirteen specialist clinics and two operating theatres, which provide inpatient and outpatient services for accidents and emergencies and medical and surgical care.
(The Star & NST, 23/04/2018)
IREKA CORP SECURES RM92 MILLION 24 MONTH CONTRACT
Ireka Corp Bhd’s unit, Ireka Engineering & Construction Sdn Bhd, has secured a RM91.96 million construction contract from Pantai Hospital Ayer Keroh, Melaka. Ireka is to construct a proposed additional 1 storey basement and 8 storey hospital, and to correspondingly execute refurbishments to the existing hospital building including the mechanical and electrical rooms. The contract period is for 24 months and is scheduled to be completed on April 15, 2020.
(The Star 27/04/2018)
BUKIT DAMANSARA PROPERTIES SOLD AT FAIR VALUE
In the last two months, 37 units in both the “Seri Beringin” and “9 Beringin” developments in Bukit Damansara were snapped up after they were opened for sale at prices which were reportedly lower than market value. The properties comprised seven villas in “Seri Beringin”, whereas the remaining 30 units were bungalows and semi-detached houses built in both the “Seri Beringin” and “9 Beringin” developments. The 42-acre project was originally conceptualised by Syarikat Perumahan Pegawai Kerajaan Sdn Bhd (SPPK) for senior civil servants, to “enable them to own properties in the Bukit Damansara area”.
(The Edge Property, 26/04/2018 & The Star, 27/04/2018)
US-BASED HEMATOGENIX PLANS ONCOLOGY LAB
United States medical researcher, Hematogenix Laboratory Services, plans to invest US$15 million (RM58.48 million) to set up a central laboratory in Cyberjaya, which emphasises on oncology. Proposed construction of the laboratory is scheduled to commence at the end of 2018.
TENCENT TO SET UP ITS FIRST ASEAN DATA CENTRE IN MALAYSIA
Tencent Holdings is planning to set up its first Asean data centre in Cyberjaya, Malaysia. The data centre will service the entire Asean region and will function as Tencent’s hub for its regional data service. By the end of 2018, Tencent will also set up an incubation centre with a local partner in order to effectively penetrate the market in China.
(The Edge Property, 26/04/2018)
UMLAND TOWNSHIP TO PROVIDE AFFORDABLE HOUSING FOR JOHOREANS
Under the Johor Affordable Housing Scheme, UMLand Bhd will be erecting 1,122 affordable homes in its Bandar Seri Alam Township. Upon further segmentation, UMLand will construct 421 units of “Perumahan Komuniti Johor” (PKJ-B) and 701 units of “Rumah Mampu Milik Johor” (RMMJ), which are 14-storeys and 16-storeys high respectively. The project spans across 18.46 acres of land with built-ups of 850 sq. ft. (PKJ-B) and 1,000 sq. ft. (RMMJ), priced at RM80,000 and RM150,000 respectively.
TILE RETAILER’S LARGEST STORE OPENS IN JB
Premium tile retailer, Feruni Ceramiche Sdn Bhd, has opened its largest retail store with over 25,000 sq. ft. of showroom space. Located at Tebrau Industrial Area 3, the store offers customers an up-close view of Feruni’s latest tile collections including the large sized marble series.
(The Star, 26/04/2018)
DHL INVESTS RM11 MILLION FOR JOHOR LOGISTICS CENTRE
DHL Express (M) Sdn Bhd will invest RM11 million for its gateway and service centre in Johor to improve its logistics capabilities in Malaysia and support global needs. The service centre will serve as “a gateway and service centre” for the import and export of shipments between Southern Malaysia and the world, while facilitating customer pickups and deliveries within Johor. Construction of the 50,000 sq. ft. logistics centre will complete in 1Q19.
(The Malaysian Reserve, 26/04/2018)
FUNDING FACILITIES FOR LOW AND MIDDLE INCOME GROUPS
A special initiative drafted by the Housing and Property Focus Group intends on providing housing funds for individuals within low and middle income groups, who have failed to secure bank loans. The focus group will also play a pivotal role in providing land banks in Penang to be developed into affordable housing or “people-oriented” projects by federal agencies. Resulting from subsidies allocated by the Federal Government, low cost housing will be offered at a price point of RM43,000 per unit, which is considered to be 20% below market value. The group will also provide funds at a 120% rate for houses priced below RM200,000, specifically for potential buyers with earnings of less than RM3,000 per month.
LAND TITLE ISSUANCE FOR STP2A LIKELY IN 2018
The land title for reclaimed land under Phase 2A of the Seri Tanjung Pinang (STP2A) project is expected to be issued in 2018. Back in 2017, Eastern & Oriental Bhd (E&O) and Retirement Fund Inc (KWAP) formed an 80:20 joint venture referred to as “Persada Mentari Sdn Bhd”. The venture attained concession rights to reclaim and develop upmarket residential units and holiday resorts on the northeast coastal part of Penang Island.
(The Edge Property, 23/04/2018 & NST, 24/04/2018)
52,925 AFFORDABLE HOMES PLANNED
A total of 52,925 affordable housing units under 79 projects will be developed in Penang to rectify the issue of home ownership for low and middle income groups. According to the latest estimations, 27 projects comprising 5,895 affordable housing units have been built in the state at a cost of RM579.86 million. This figure does not include 26 projects involving 7,977 affordable housing units, which are currently under construction in several areas of the state at a cost of RM867.6 million.
FLOATING MOSQUE 60% COMPLETE
Scheduled for completion in September 2018, Sarawak’s first floating mosque costing in excess of RM10 million, is currently 60% completed. The mosque is situated at the Old Kuching town of Gambier Street, close to the iconic Darul Hana Bridge and Sarawak Legislative Assembly Complex. Furthermore, the Sarawak State Government will implement various new development projects in the Kuching Waterfront area, particularly near the Sarawak State Legislative Assembly building.
(The Star, 21/04/2018)