+603-21612522        

POPULATION HAS GROWN TO 32.4 MILLION

 

The Department of Statistics Malaysia has ascertained that the Malaysian population expanded by 1.3% to 32.4 million in 1Q18, compared with 32 million formerly in 1Q17. 16.7 million (52%) were male, while the remaining 15.7 million (48%) were female. Selangor was deemed the most populated state at 6.4 million and Putrajaya exhibited the lowest population at 88,700. In 1Q18, there were 117,000 live births (60,600 males and 56,400 females), making an average of 39,000 births a month. Selangor also recorded the highest number of births at 23,500, while Labuan recorded the lowest with 411 births. Between January to March 2018, 43,100 deaths were reported, which was a marginal increase from 41,200 deaths recorded in the corresponding period of 2017 and there was an average of 14,400 deaths per month.

(The Star, 16/05/2018)


 

GST RATE REDUCED TO ZERO FROM JUNE 1, 2018

The Finance Ministry has publicised that the supply of goods and services (local or imported), presently charged at the standard rate of 6% under the Goods and Services Tax (GST), will be reduced to “zero percent” commencing June 1, 2018. The ministry indicated that the imposition of GST at a zero rate is applicable throughout the country until further notice. Accordingly, all registered traders are required to comply with the latest zero rate imposition and are still subject to all current regulations prescribed in respect of tax invoices, tax returns and tax credit claims.

(The Sun, 17/05/2018)


 

GDP GROWTH SLOWS TO 5.4% IN 1Q18

Malaysia’s economy has moderated to its slowest pace in four quarters as private investment decelerated, along with a decline in public spending. Data from Bank Negara shows that Malaysia’s gross domestic product (GDP) growth declined to 5.4% in 1Q18, compared with 5.9% in 4Q17, as headline inflation declined to 1.8% during 1Q18 compared with 3.5% in 4Q17. However, GDP is projected to remain “favourable” in 2018, above 5%, attributed by continual strength in both domestic and external demand.

(The Star, 18/05/2018)


 

ECRL WORK RUNNING AS USUAL

Malaysia Rail Link Sdn Bhd’s (MRL) work on the East Coast Rail Link (ECRL) project recommenced on May 16, 2018, with a 14% achieved progress. The Council of Eminent Persons is fully aware of the progress made thus far and there is no stop order for works. The ECRL is owned by MRL, a special purpose vehicle wholly owned by the Minister of Finance Incorporated.

(The Sun, 17/05/2018)


 

ACCORDING TO MAHB, KLIA’S MAIN TERMINAL REQUIRES EXPANSION

Malaysia Airports Holdings Bhd (MAHB) is still in negotiations with the government for the expansion of the main terminal at Kuala Lumpur International Airport (KLIA). Concrete details on the expansion have yet to be substantiated, particularly in terms of capital expenditure and costs. The expansion plan is envisaged to amplify capacity up to 65% or 20 million passengers, with approximately 50 million passengers utilising KLIA within the next three years.

 (NST, 14/05/2018)


 

ELECTION RUN-UP FAILS TO BOOST AIRPORT USERS

Malaysia Airports Holdings Bhd (MAHB) registered a 3.4% year-on-year (Y-o-Y) passenger movement in April 2018. Contrariwise, the run-up towards the 14th General Election (GE14) did not boost traffic in Malaysia. Previously in GE’s 12 & 13, continuous increments were experienced for passenger traffic leading up to the said elections and persisted with recurrent increases subsequent to them. This, however, was not evident in the context of GE14. In April 2018, MAHB registered 11.1 million users at all its airports including the Istanbul Sabiha Gokcen International Airport (Istanbul SGIA). Total international traffic rose to 5.3 million in April 2018 from 5.0 million registered a year ago, whereas domestic traffic stagnated at 5.8 million passengers. International passenger traffic for Asean countries expanded by 4% to 2.1 million, whereas non-Asean traffic augmented by 6% to 2.2 million passengers.

For Kuala Lumpur International Airport (KLIA), passenger movement exhibited a 2.3% growth to 4.8 million passengers, with a 6.7% growth registered at KLIA2 and a 2.4% decline for the KLIA main terminal. The 12-month passenger traffic for the KLIA main terminal recorded 28.1 million in passenger movements (1.6% growth), whereas KLIA2 rose by 14.2% with 31.4 million over the corresponding period in 2017. For its Asean market, the airport recorded 1.7 million passengers with a 2.5% growth, whereas two million passengers were recorded for non-Asean passengers, thereby registering a 4.2% growth.

(The Malaysian Reserve, 15/05/2018)


MAHB EYES 5% SURGE IN NON-AERONAUTICAL REVENUE WITHIN FIVE YEARS

Malaysia Airports Holdings Bhd (MAHB) is upbeat on its prospects of increasing non-aeronautical revenue by five per cent within five years. Currently the aeronautical and non-aeronautical segments contribute equally about 50:50 to the group’s revenue. MAHB’s non-aeronautical revenue throughout 2017 rose 10.5% to RM531.1 million, driven by stronger sales registered by the concessionaires and retailers. Its non-aeronautical segment includes duty free and non-duty-free outlets, food and beverage outlets at designated airports in Malaysia, hotel operation, agriculture and horticulture and other investment holdings. MAHB will upgrade its retail commercial businesses at all airports, starting with Langkawi and is looking to open up more outlets for more retail and commercial offerings. Passenger spending at all its MAHB airports averaged about RM24 per person for the whole Malaysia airport operations. Spending per person at KLIA and KLIA 2 is about at RM46.40 and RM30, respectively. MAHB intends to maximise existing asset (land) surrounding its airports network for future development such as the KLIA Aeropolis where it hopes to unveil the Business Park at KLIA in 2018 to attract similar investments like the airport in Subang. At Penang International Airport, MAHB plans to add more carpark spaces and is also looking at building a hotel and premium outlet project.

(New Straits Times, 14/05/2018)


 

ENRA SELLS 70% STAKE IN PROPERTY DEVELOPMENT COMPANY FOR RM5.6 MILLION

For RM5.6 million, Enra Group Bhd disposed of its 70% stake in property development company, Landmark Zone Sdn Bhd (LZSB). The divestment plan will facilitate Enra in monetising its investment in LZSB and to correspondingly allow for funds to be reinvested in “earnings accretive opportunities” and to meet working capital requirements. Previously, in December 2016, LZSB completed its sole mixed development project, Shamelin Star, in Taman Shamelin Perkasa, Kuala Lumpur.

(The Edge, 15/05/2018)


 

MATRIX SIGNS DEAL TO BUILD FINANCIAL DISTRICT IN INDONESIA

Matrix Concepts Holdings Bhd has entered into a memorandum of understanding (MoU) with PT Bangun Kosambi Sukses (BKS) and PT Nikko Sekuritas Indonesia (NSI), for a proposed Joint Venture (JV) to undertake the development of an Islamic Financial District in PIK 2, Jakarta, Indonesia. Formation of the JV is currently in the midst of an in-depth study and relevant negotiations by the parties associated with the MoU, whereby final costs and commitments are to be materialised in due course.

(The Malaysian Reserve, 16/05/2018)


 

AZRB SECURES RM198 MILLION CONTRACT FROM PNB MERDEKA VENTURES

Ahmad Zaki Resources Berhad (AZRB) has secured a RM198 million contract from PNB Merdeka Ventures Sdn. Bhd, to construct new roads, a Galloway pedestrian bridge and other related works in Kuala Lumpur. It additionally involves the upgrading and improvement of surface roads and the relocation of existing utilities. Works are expected to commence on May 21, 2018, and conclude in 883 days.

(The Star, 18/05/2018)


 

HSL TO UNVEIL RM150 MILLION WORTH OF PROJECTS

Hock Seng Lee Bhd (HSL) is set to unveil residential and commercial projects with a combined gross development value (GDV) of approximately RM150 million. HSL’s flagship mixed development, La Promenade (along the Kuching-Samarahan Expressway), will imminently launch a new precinct comprising 94 detached houses, and double-storey and three-storey semi-detached houses. With an overall GDV of RM74 million, the low density development (below five units per acre) offers three-storey semi-detached houses priced close to RM2 million each and detached houses priced at over RM3 million each. Said homes will be situated in a guarded-and-gated community with various amenities such as a clubhouse, swimming pool and gymnasium.

La Promenade’s completed “Precinct Premier” comprises 32 luxurious duplex villas (priced from RM1.42 million) and 12 bungalows (between RM2.32 million and RM2.47 million), whereby all units have been delivered to the purchasers. Additionally, 24 semi-detached houses in “Precinct Premier” are due for completion in early 2019. Currently, 112 “Precinct Luxe” superlink houses are under construction, whereby approximately 50% of said houses have a built up area of 2,224 sq. ft. each and will be ready by June 2018. Remaining units are expected to be completed by early 2019. Intermediate super-link houses are priced at RM860,000. In terms of the commercial component, a 10-storey office tower that will house the new HSL corporate office (fourth floor onwards) is currently in its advanced construction stages. A community mall on the tower’s first to third floors will be leased out to businesses.

(The Star, 14/05/2018)


 

SP SETIA OPTIMISTIC OF MEETING RM5 BILLION SALES TARGET

SP Setia Bhd is optimistic of meeting its RM5 billion sales target for the financial year ending December 31, 2018, backed by “sustained momentum and robustness in achieved sales”. As of March 31, 2018, the group’s prospects remained positive with total unbilled sales of RM7.95 billion, anchored by 46 ongoing projects and 9,586 acres of remaining land bank, with a gross development value (GDV) of RM139.72 billion. SP Setia’s impending major launches commencing 2Q18 onwards will be in the Klang Valley, with a particular emphasis on Setia Alam, Setia Ecohill 2, Setia Eco Park, Setia Eco Glades, Setia Alamsari and Alam Impian.

Up north, the group will launch Setia Fontaines, an innovative lifestyle development in the northern part of Seberang Prai. In the southern region, anticipated launches will be in Taman Pelangi Indah, Setia Eco Gardens and Setia Tropika. Located in Bangsar, Kuala Lumpur, Federal Hill spans across 51.57 acres of leasehold land, with launch expected in 2019 and is to be developed over a 15 to 20 year period. This integrated mixed development is planned for residential and commercial components, including a retail mall.

(The Star, 15/05/2018)


TOMEI TO FOCUS ON E-COMMERCE PLATFORM

Tomei Consolidated Bhd plans to enhance its e-commerce presence to cater to the change in consumers’ behaviour away from traditional retail purchasing. The gold and jewellery products retailer already has its own online platform, but it is undergoing a revamp which is expected to be completed by 2H18. Tomei’s online sales growth has been healthy and it has embarked on a rationalisation strategy to close retail outlets that do not meet the group’s requirements. Tomei also has about RM1 million to RM2 million in capital expenditure to open two to three new outlets to add to its current 64 outlets nationwide.

(The Malaysian Reserve, 18/05/2018)


TMS TO HAVE FOREIGN LOGISTICS PARTNER

By 2H18, Trip-Mode System (M) Bhd (TMS) will collaborate with an international e-commerce platform as its logistics partner in Malaysia. TMS is currently in negotiations with an e-commerce platform, however, details concerning the origins of this platform are not publicised as of yet.

(The Malaysian Reserve, 15/05/2018)


 

SIME DARBY AND MITSUI IN RM530 MILLION JV AT BANDAR BUKIT RAJA

Sime Darby Property is partnering Japan’s Mitsui & Co Ltd and Mitsubishi Estate Co Ltd (MECL) in a RM530 million gross development value project to develop and lease build-to-suit industrial facilities on a 39-acre site at the Bandar Bukit Raja integrated township in Klang, Selangor. Sime Darby Property holds 50% of the joint venture, while the other 50% is held by Mitsui via its Malaysian subsidiary, Mitsui M-Co. MECL’s participation in the venture is via its 40% holding in Mitsui M-Co and is still subject to approval of licences and permits. The build-to-suit industrial facilities, which comprise warehouses and logistics facilities, offer tailored features to suit operational requirements of business tenants. These include specific floor loading capacities, an optimum quantity of loading bays and height clearance.

(The Sun, 18/05/2018)


 

POLICE TO GET 50% OF NEWLY LAUNCHED GOVERNMENT HOUSING IN PUTRAJAYA

The police will get 50% of the Kenanga and Cempaka 1Malaysia Civil Servants Housing Programme (PPA1M) high-rise project in Precinct 19, Putrajaya. The units are priced between RM100,000 and RM300,000 and residents will enjoy facilities such as a multipurpose hall, nursery, surau, playground, commercial lots and one parking bay per unit. Expected to be ready in 2021, it sees a government subsidy of between RM30,000 and RM100,000 per unit. During the official launch, it was announced that maintenance rates for all government staff housing schemes in Putrajaya would be reduced from 20 sen to 15.8 sen per sq ft. Introduced in 2013, government staffs housing schemes only require a 10% down payment with subsequent payments to be followed upon project completion.

The 2018 budget set aside 10,000 PPA1M units for the police force. In Putrajaya, 5,216 units are under construction in Precincts 5, 15, 17 and 18 and another 2,492 units are in the planning stage.

(The Star, 16/05/2018)


 

SHANGRI-LA UPBEAT ON BUSINESS PERFORMANCE IN 2018

Shangri-La Hotels (Malaysia) Bhd is upbeat on business performance this year as leisure and corporate demand for hospitality regionally is on “higher levels” currently. Asian tourists, especially the Chinese, are one of the biggest contributors to its hotel revenue for both segments. The newly upgraded and superior facilities at Shangri-La Hotel, Kuala Lumpur and the enhanced room product at Hotel Jen, Penang are expected to support further growth in revenue. Moreover, the group is currently reviewing the development of its land bank in Sabah, with focus on increasing the operation of its hotel chain there as Sabah has very high potential for tourism development.

(New Straits Times, 17/05/2018)


 

KINGSLEY PLANS ASIAN EXPANSION AFTER HK DEBUT

Kingsley EduGroup Ltd has become the first Malaysian education service provider to be listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Ltd (HK Exchange). The group, which owns the Kingsley International School (KIS) in Subang Jaya, strategises to expand and set up its schools across Asia. The differentiation factor of Kingsley’s schools will be its leadership academy, which is to be located at the new annex building in Subang Jaya. Full boarding will be offered at the academy, with extra-curricular activities focusing on leadership skills. The new building is expected to be operational by the end of 2018 and will comprise dormitory rooms that can accommodate circa 667 students.

(The Star, 17/05/2018)


 

COUNTRY HEIGHTS DISPOSES OF STAKE IN HEALTHCARE UNIT

Country Heights Holdings Bhd’s wholly owned subsidiary, Mines Holdings Sdn Bhd, is divesting a 5% stake in Country Heights Health Tourism Sdn Bhd (CHHT), for RM250,000. The acquirer of the stake holds the role of CHHT’s executive director and shareholder. CHHT is currently a 70% owned sub-subsidiary of Country Heights. The deal is in line with objectives of the group in focusing on its core businesses of property development and property investment, whereas non-core businesses of the group will be divested in stages. CHHT owns and operates GHHS Healthcare, a private preventive health screening centre in Seri Kembangan, Selangor.

(The Edge, 18/05/2018)


 

DBKL “FREEZES” ALL UNAPPROVED PROJECTS

Kuala Lumpur City Hall (DBKL) has “frozen” all unapproved projects, including those built on hill slopes and public spaces. Unapproved projects will not be taken into deliberation, whereas projects with development orders from the district officer can proceed. Specified projects that were affected by the “freeze” have not been explicitly declared by DBKL.

(The Edge, 15/05/2018)


 

 NUMBER OF AUCTION PROPERTIES INCREASES

More properties are expected to “go under the hammer” in upcoming quarters, notably for high-end residential properties under commercial titles, such as SoVo’s, SoHo’s and SoFo’s. The Maybank Research unit identified that 28,262 units of properties worth RM12.2 billion auctioned in 2017, an increase of 24% year-on-year (y-o-y) in terms of units and an 8.3% y-o-y growth in terms of value. The increasing number of auction units has heightened competition among developers, especially with “online auctions” being traded at a “discount to market value”. However, fewer bidders have been encountered in recent times prompting some developers and owners to draw in buyers and tenants by offering fully furnished and rent-to-own schemes.

The bulk of auction units. 53% in terms of units and 62% in terms of ringgit value, are located in the Klang Valley and Negri Sembilan, followed by the northern region (22% and 12%, respectively) and southern region (14% and 16%). The latest National Property Information Centre statistics reveals that the number of unsold residential properties, including serviced apartments, increased to 161,068 in 2017 (+10% y-o-y). This comprises unsold completed properties, those under construction and those impending construction. Up to 40% of the unsold stock are priced at RM250,001 to RM500,000, followed by those priced at RM500,001 to RM1 million (32%) and those in excess of RM1 million (12%). These units chiefly comprise high-rise condominiums and apartments (29%), serviced apartments (36%) and two and three-storey terraced houses (14%).

(The Star, 14/05/2018)


 

HOUSING ISSUES COMPLEX AND NEED TIME TO BE RESOLVED

The Real Estate and Housing Developers’ Association Malaysia (Rehda) signified the complexities and lengthy rectification processes that underlie housing issues, which include the affordability of properties, a hefty proportion of unsold units and the oversupply phenomenon. In tackling property affordability, Rehda proposes the setting up of a housing council to oversee the affordable housing segment.

(The Star, 15/05/2018)


 

REHDA: PROPERTY PRICES TO DROP WITH ZERO GST

According to the Real Estate and Housing Developers’ Association (Rehda), property prices are expected to decline, subsequent to the reduction of the goods and services tax (GST) rate from 6% to 0%. However, profiteering may be evident in the short term, thus, effective implementation and enforcement is quintessential in preventing unscrupulous vendors who maintain higher prices regardless of the zero per cent GST.

(The Edge, 18/05/2018)


 

JCORP EYES NOVEMBER 2018 RELISTING FOR QSR BRANDS

Johor Corp (JCorp), the parent company of QSR Brands (M) Holdings Bhd, aspires to relist their company on Bursa Malaysia by November 2018. The group is currently awaiting approval from the Securities Commission of Malaysia in order for it to go public. QSR Brands functions as the operator of KFC and Pizza Hut restaurant chains in Malaysia, whereby JCorp, which is the state of Johor’s investment arm, holds a 51.8% equity stake in QSR. The two supplementary owners of QSR include the Employees Provident Fund and private equity firm, CVC Capital Partners Ltd. QSR Brands has a network of restaurants throughout Asean, with a current aggregate of 1,268 Pizza Hut and KFC outlets in Malaysia, Singapore, Brunei and Cambodia.

(The Star, 16/05/2018)


AMERICAN INTERNATIONAL SCHOOL TO OPEN IN FOREST CITY IN AUGUST 2018

The new Shattuck-St. Mary’s (SSM) Forest City International School in Johor, with a 160-year legacy of American educational excellence, is expected to welcome its first group of students in August 2018. The RM1 billion campus is located on the first of four man-made islands that make up Forest City, a 3,425 acres smart city development at the southern tip of peninsular Malaysia adjacent to Singapore. The school’s American syllabus begins at pre-kindergarten level and culminates with a variety of Advanced Placement (AP) High School offerings in Grade 12. Students at middle and high-school levels will get to live in 130 well-appointed dormitories, each housing four to six children for a total capacity of about 800. Students will also have 24/7 access to qualified medical support, well-balanced meals and all dormitories are fully furnished with attached bathrooms. The school also accepts day students at all grade levels.

(The Star, 16/05/2018)


 

OCR TEAMS UP WITH CASA BANGSAR FOR RM700 MILLION PROJECT IN JOHOR

OCR Group Bhd, via its wholly owned subsidiary, Junjung Simfoni Sdn Bhd (JSSB), has entered into a joint venture agreement with Casa Bangsar Sdn Bhd (CBSB) for an integrated mixed development. With a total gross development value (GDV) of RM700 million, the project spans across 47.87 acres of land in Tebrau, Johor. The project will be constructed in two phases, whereby works will commence within three months and are targeted for completion in five years. Phase 1, located at Bandar Dato’ Onn, comprises 320 double-storey terraced link houses, with a per unit built-up area between 1,500 to 1,900 sq. ft. Phase 2 will entail a proposed mixed commercial development comprising serviced apartments and a retail complex. OCR will be entitled to a 70% profit and CBSB will be entitled to 30% of overall profits.

(The Sun, 18/05/2018)


 

PROPOSED UNDERSEA TUNNEL MAY BE TOLL-FREE

Funding options for pending “mega projects” may some modifications, as Pakatan Harapan now forms the Federal Government. The state will re-evaluate funding options for projects under the Penang Transport Master Plan (PTMP) and the proposed Penang Undersea Tunnel under PTMP could made toll-free to mirror pre-election manifestos. Construction of three paired roads, which are part of the tunnel project, are to commence shortly as federal approval is awaited. The roads have already been “paid for” with a combination of existing and reclaimed land. In order to fund PTMP, the state was previously prepared to grant the reclamation of two new islands spanning 2,299 and 1,939 acres in the south of Penang.

(The Star, 14/05/2018)


 

PENANG TO REQUEST THAT SPAD GIVES PRIORITY TO LRT PROJECT

The Penang government will push for the light rail transit (LRT) project under the RM27 billion Penang Transport Master Plan (PTMP) to be given precedence by the Land Transport Commission (SPAD). The Chief Minister of Penang will follow up with SPAD pertaining to the LRT project which was submitted for in March 2016. SRS Consortium Sdn Bhd, a 60:20:20 joint venture between Gamuda Bhd, Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd, functions as the project delivery partner for the PTMP, which covers the LRT project, the 20km Pan-Island Link (PIL) and the Penang south reclamation project.

The LRT project has been delayed several times while awaiting the necessary approvals from the authorities. The relevant studies to be executed for the PIL are pending completion as the submission for the Environmental Impact Assessment (EIA) is yet to be finalised.

(The Edge, 15/05/2018)


EB INCREASES STAKE IN PENANG DEVELOPER

Ewein Bhd (EB) is increasing its stake in Ewein Zenith Sdn Bhd from 73% to 89%, as an endeavour to control the Penang-based property developer, which is currently developing a luxury sea-front residential project worth a gross development value of RM800 million. EB is acquiring a 16% stake via its wholly-owned unit, Ewein Land Sdn Bhd. Consortium Zenith Construction Sdn Bhd functions as the seller and additionally acts as the contractor for the Penang Undersea Tunnel project. Consortium Zenith will ultimately hold an 11% interest in Ewein Zenith subsequent to the deal. With increased ownership of Ewein Zenith, EB will acquire greater influence over Ewein Zenith, which forms the development arm of EB.

(The Edge, 16/05/2018)


ASPEN SEES 250% INCREASE IN 1Q18 PROFIT

Singapore-listed Aspen (Group) Holdings Ltd’s net profit grew approximately 2.5 times year-on-year from RM5.13 million to RM13.1 million in 1QFY18, as revenue leapt due to further progress from its ongoing projects. Aspen’s ongoing projects, which include Tri Pinnacle at Tanjong Tokong, Beacon Executive Suites in George Town, the first and second phase of Aspen Vision City (AVC), a commercial scheme known as Vervéa in AVC and the Vertu Resort residential project within AVC achieved very good sales during the quarter.

(The Edge, 16/05/2018)


 

SUNCON ACCEPTS RM180 MILLION PENANG MEDICAL CENTRE CONTRACT

Sunway Construction Group Bhd’s (SunCon) subsidiary, Sunway Construction Sdn Bhd (SCSB), has accepted the letter of award issued by Alliance Parade Sdn Bhd, for the forthcoming RM180 million development of Phase 1 of the Sunway Medical Centre in Penang. Alliance Parade is an indirect wholly owned subsidiary of Sunway Bhd, which is a major shareholder of SunCon. The project will commence on May 15, 2018 and is expected to be completed by December 15, 2020.

(The Sun, 15/05/2018)


 

PAN BORNEO HIGHWAY CONTINUES AS CONTRACTORS ARE AUDITED

The Pan Borneo Highway mega project in Sarawak will persist amid Federal Governmental changes, but will be contingent on an audit being executed on the contractors involved. Auditors will be appointed to investigate relevant paperwork involved and to correspondingly guarantee that funds are entirely channelled into the project. Upon concluding the auditing process, works would then be able to fully recommence on the site as the Government aspires to swiftly wrap up the project. The 1,089 km Pan Borneo Highway stretch in Sarawak spans from Telok Melano in Sematan, to Lawas up north and is divided into more than 10 packages costing approximately RM16 billion. Lebuhraya Borneo Utara Sdn Bhd functions as the project delivery partner.

(The Star, 15/05/2018)


 SARAWAK TO CARRY ON PROJECTS

The government of Sarawak will persist with the implementation of development initiatives in order to spur the expansion of the state’s RM130 billion economy. Initiatives include erecting a light rail transit system, which comprises three lines spanning 155 km in Kuching, Samarahan and Serian. The RM11 billion project is initially planned to be completed by 2024.

(NST, 15/05/2018)


 

KUCHING TO BE PERMANENT HOME FOR DINOSAUR EXHIBITION FROM 2019

Petronas’ travelling dinosaur exhibition “DinoTrek” will become a permanent fixture in Kuching, Sarawak, upon the opening of the Petrosains PlaySmart Science Centre at the end of 2019. The science centre at the Kuching Civic Centre, will see the “DinoTrek2 animatronic and interactive dinosaur exhibition” serving as a component feature. The DinoTrek2 exhibition boasts nine animatronic dinosaurs, 12 interactive exhibits and offers multiple interactive activities.

(The Star, 14/05/2018)


MMC STILL KEEN TO ACQUIRE STAKE IN SABAH PORTS

MMC Corp Bhd (MMC) is still inclined to acquire a stake in Sabah Ports Sdn Bhd (SPSB), as it has submitted an appeal to the state government. MMC will correspondingly clarify to the authorities on the subject of the group’s role in adding value to SPSB.

(The Star, 15/05/2018)


 

SABAH REGISTERS RM2.1 BILLION TOURISM REVENUE

In the first three months of 2018, Sabah recorded RM2.1 billion in tourism receipts, which exhibited a 9.5% surge compared with the corresponding period in 2017. International tourist arrivals registered a 20.4% growth with 365,212 tourists visiting the state between January and March 2018. Chinese and Korean tourists top the foreign arrival statistics, whereas domestic tourist arrivals stood at 582,409, representing a contraction of 1.9%.

(NST, 15/05/2018)


RICS

All rights reserved (C) 2016

Jones Lang Wootton