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OCTOBER 2018 CPI UP 0.6% Y-O-Y

According to the Department of Statistics Malaysia, the consumer price index (CPI) increased 0.6% in October 2018 to 120.7, compared with 120 in October 2017. The increase in the overall index was due to higher prices for housing, water, electricity, gas and other fuels (2.1%), food and non-alcoholic beverages (1.2%), restaurants and hotels (1.2%), education (1.1%) and transport (0.8%).

(The Sun, 26/11/2018)


 

MALAYSIA’S ECONOMIC GROWTH TO QUICKEN POST 2020

Malaysia’s economic growth could accelerate after 2020, if commodities prices were to pick up as a result of a recovery in global economic growth. Malaysia’s economic growth is likely to slow down in the next two years as the weak global economic outlook could weigh on commodity prices. Malaysia’s real gross domestic product growth may slow down from 5.9% in 2017 to 4.8% in 2018, 4.4% in 2019 and 3.6% in 2020.

(The Edge Property, 26/11/2018)


 

HOUSEHOLD DEBT LIKELY TO STABILISE IN 2019

Malaysia’s household debt for 2019 is expected to remain contained in line with added stability of income. As at September 2018, the ratio of household debt to Gross Domestic Product was recorded at 83.2% compared with 83.8% in September 2017. A large proportion of household debts went towards property wealth, which includes purchasing a house (52.8%); non-residential properties (6.8%) and investments in reserve funds (5.7%).

(NST & The Star, 28/11/2018)


 

MIER: 4Q18 GROWTH LIKELY AT 4.7% – 4.8%

Malaysian Institute of Economic Research (MIER) has projected Malaysia’s Gross Domestic Product (GDP) to expand between 4.7% and 4.8% in 4Q18, with growth being propelled by domestic private consumption.

(NST & The Star, 28/11/2018)


 

BUSINESS UPBEAT ON 4Q18 PERFORMANCE

Businesses expect encouraging performance in 4Q18 with a confidence indicator of +7.1% against +6.0% in 3Q18. In 4Q18, the confidence indicator specifically for the services sector rose to +18.8% from +16.5% in 3Q18. The confidence indicator for the wholesale and retail trade sector climbed to +13.2% from +3.6%. In contrast, the confidence indicator for the construction sector slipped further to -21.5% in 4Q18 from -7.7% in 3Q18.

(NST, 30/11/2018)


 

CITY HALL TO BUILD MULTI-STOREY CAR PARKS IN 14 AREAS

With a RM300 million allocation, Kuala Lumpur City Hall (DBKL) has identified 14 housing areas for the construction of multi-storey car parks to resolve the problem of insufficient parking for residents. To date, 12 of these projects are being built, while two others are in the process of attaining site approval. Once these 14 projects are completed, there will be 7,906 new parking bays, in addition to the 6,672 bays currently at People’s Housing Projects and Public Housing in the city. The multi-storey parking will also provide business areas on the ground floor and facilities such as community centres and futsal courts.

(The Edge Property, 28/11/2018)


MP SEPANG TIGHTENS G&G RULES

The Sepang Municipal Council’s Town Planning Department has declared that action will be taken against gated areas that have not obtained appropriate approvals from the council. As of 2018, 28 out of 115 gated-and-guarded (G&G) neighbourhoods have submitted applications to the council. In May 2018, an adjustment meeting by the council concluded that all applications for G&G community schemes will be approved by the local authority under the circumstance that it complied with guidelines set by the Selangor Housing and Property Board. Currently, applications for G&G schemes must be submitted by a registered residents’ association and have the signed consent of 75% of the residents. A study will be done by the council to ensure any barriers that are set up will not restrict access to communal facilities such as playgrounds or obstruct traffic flow into major thoroughfares.

(The Star, 24/11/2018)


 

MAP OF STATE BORDERS BEING UPDATED

According to the Department of Survey and Mapping Malaysia, the mapping of the boundary between Negeri Sembilan and Melaka has been completed but not finalised, while that for the Pahang-Negeri Sembilan border has been completed and finalised. In the case of Selangor, the measurements have been completed but have yet to be confirmed.

(NST, 24/11/2018)


 

GOVERNMENT MAY EXPAND RENT-TO-OWN SCHEME

The Malaysian Government is looking to expand the rent-to-own scheme for the bottom 40% income (B40) group at government-owned properties to ease the burden of low-income earners who are facing difficulties in attaining housing loans. The B40 can find properties priced RM160,000 and below, which would require them to pay a mere RM600 per month.

(NST, 24/11/2018)


ONE MILLION AFFORDABLE HOMES IN 10 YEARS ACHIEVABLE

The Housing and Local Government Ministry (KPKT) is optimistic about achieving the target of constructing one million affordable homes in 10 years, with 100,000 units a year being delivered based on the budget allocation that was set aside by the new federal government. KPKT is set to build a big data system that has the capacity to attain overviews and forecasts on the housing needs of Malaysians.

(The Edge Property, 27/11/2018 & NST, 28/11/2018)


 

PERAK FELDA, FELCRA LAND OWNERS GET 99-YEAR LEASES

The Perak State Government is offering a 99-year land title lease to “owners” of residential land in Federal Land Development Authority (Felda) and Federal Land Consolidation and Rehabilitation Authority (Felcra) areas. The government is also offering the new titles to land owners in new villages, “kampung tersusun” and Indian villages. Owners of Temporary Occupation Licences (TOL) living in coastal areas in Kerian, Larut Matang, Manjung, Hilir Perak, Bagan Datuk and unused government reserve land will be given land titles in stages.

(The Edge Property, 28/11/2018)


KPKT PLANS TO LAUNCH CONNECTING UNIT FOR SENIORS

The Ministry of Housing and Local Government (KPKT) is exploring the possibility of building “connecting units” in new affordable housing projects for senior citizens and families. KPKT is considering a connecting room concept, whereby aging parents can stay with their children.

(The Edge Property, 28/11/2018)


RUMAH SELANGORKU SELECTION BASED ON MERIT

No specific quota will be given to Selangor state assemblymen in the state’s selection process for Rumah Selangorku applications. Instead, selection for the housing scheme will be executed based on a merit system.

(The Sun, 29/11/2018)


 

HYPERMARKETS NOT ALLOWED TO OPERATE IN INTERIOR AREAS

The Malaysian Government will not allow hypermarkets to operate in rural “fringe and interior areas”, in order to assist small sundry shops to continue existing and operating in these areas. Currently, hypermarkets control approximately 65% of retail trade in the country while the remaining 35% is run by small sundry shops.

(The Edge Property, 28/11/2018 & NST, 29/11/2018)


 

TWO FINANCIAL FRAMEWORKS WILL BE OUT IN EARLY 2019

The Malaysian Government will announce two key frameworks in 1Q19 regarding cryptocurrency and property crowdfunding regulations to be meted out by the Securities Commission Malaysia (SC). The Ministry of Finance will act as the coordinating body for the SC and Bank Negara Malaysia for the cryptocurrency framework. The regulations for digital assets, or cryptocurrency exchanges, and initial coin offerings will come into force by 1Q19 as part of the SC’s effort to facilitate alternative fundraising avenues and new investment asset classes.

(The Sun, 29/11/2018)


 

DBKL, THINK CITY SIGNED AGREEMENT TO MAKE KL CREATIVE, CULTURE HUB

Kuala Lumpur City Hall (DBKL) has signed a Memorandum of Understanding (MoU) with Think City to transform the federal capital into a “creative and culture” hub. The MoU, which will cover planning and implementation to conserve the rich heritage of the city, increase public spaces and to work towards capacity building involving city dwellers, will be in effect till 2021.

(The Edge Property, 29/11/2018)


 

KPKT TO SOURCE LAND FROM OTHER MINISTRIES TO BUILD AFFORDABLE HOMES

Besides State Governments, the Housing and Local Government Ministry (KPKT) has requested other federal ministries to provide unused strategic land for the development of affordable housing. The ministry had earlier called on state governments to offer lands to develop affordable houses in order to reduce development costs, therefore translating into lower house prices. The ministry will also work with banks to offer more flexible mortgage packages to sell unsold homes to eligible buyers based on differing property price ranges.

(The Edge Property, 29/11/2018)


 

UTILITY FIRMS TO PAY FOR OWN FACILITIES AT AFFORDABLE HOUSING SCHEME, NOT DEVELOPERS

Utility companies will have to pay for the building of their respective facilities at affordable housing schemes and bear the relevant costs, as per guidelines of the upcoming National Housing Policy 2.0. The cost of providing water, electricity and telecommunications will be borne by the respective agencies instead of property developers, who then pass on costs to home buyers.

(The Edge Property, 29/11/2018)


 

 

BANDAR SERENIA ELEVATED INTERCHANGE OPEN

The RM108 million Bandar Serenia elevated interchange at Km35 of the North-South Expressway Central Link (ELITE Expressway) is now officially open. Situated between the Nilai Utara elevated interchange and the Kuala Lumpur International Airport elevated interchange, the interchange connects the ELITE Expressway to Dengkil and Kota Warisan via the Salak Tinggi-Putrajaya federal road.

(The Edge Property, 27/11/2018)


 

TRANSPORT MINISTRY TO INCREASE SKYPARK LINK RIDERSHIP

The Transport Ministry aims to increase the ridership of the Skypark Link rail services (by 50% within a year) between KL Sentral and Skypark Terminal Sultan Abdul Aziz Shah Airport. To date, ridership merely reached 150 passengers a day. With 26 daily trips, the rail service’s total capacity per day is 7,800 passengers. Furthermore, the ministry plans to create a link bridge to connect the train station to the airport terminal, which will be sheltered and include a “Walkalator”.

(The Edge Property, 27/11/2018)


 

SETIAWANGSA-PANTAI EXPRESSWAY ON TRACK TO BE COMPLETED BY 1Q20

The RM3.78 billion Setiawangsa-Pantai Expressway (SPE) also known as the Duta-Ulu Kelang Expressway (DUKE) Phase 3 project is slated for completion by 1Q20 and is currently 50% completed. The SPE will serve areas such as University Tunku Abdul Rahman, Wangsa Maju, Setiawangsa, Ampang, the Tun Razak Exchage and Bandar Malaysia development corridor, and Kerinchi.

(The Edge Property, 27/11/2018)


 

FLIGHTS TO BE INCREASED

The Transport Ministry will ensure that airlines increase the frequency of flights for every festive season to cater to high demand. Airlines seeking to increase flight frequencies are required to submit their requests to both the Civil Aviation Authority of Malaysia and the Malaysian Aviation Commission. Thus far, AirAsia Berhad has attained approval from these authorities for 13 additional flights for the Johor Baru-Kuching and Johor Baru-Sibu routes.

(NST & The Sun, 30/11/2018)


 

AIRASIA X LAUNCHES KL-FUKUOKA FLIGHTS

On February 28, 2019, AirAsia X will start direct flights four times a week from Kuala Lumpur (KL) to Fukuoka in Japan. Fares upon launch will start at RM199 for standard seats and RM799 for premium flatbeds.

(The Star & The Sun, 30/11/2018)


 

MALAYSIA AIRLINES TO OFFER 9,980 MORE SEATS FOR CHINESE NEW YEAR HOLIDAY

Malaysia Airlines will offer 9,980 additional seats through 38 extra flights and 30 upgraded flights, which will operate between February 1, 2019 and February 10, 2019, to cater to the burgeoning number of travellers during the Chinese New Year holiday period. The extra flights will include destinations from Kuala Lumpur to Sibu, Kota Kinabalu, Miri and Sandakan, and from Kota Kinabalu to Taipei.

(NST, 30/11/2018)


 

UCREST OPTIMISTIC OF IMEDIC ADOPTION

UCrest Bhd (a medical technology provider) is in talks with Malaysian and international potential partners to promote the adoption of its cloud medical system (“imedic”). To date, over 20 hospitals and medical companies in Russia, the United States and China have been using imedic, which utilises Internet of Things technology in connecting various devices such as equipment in hospitals. Many of the devices or equipment currently used in hospitals or clinics will be mobile wireless devices, which will be available at much lower prices.

(NST, 24/11/2018)


 

TROPICANA TO ROLL OUT NEW LAUNCHES WORTH OVER RM430 MILLION

Tropicana Corp Bhd plans to roll out new phases across its signature developments amounting to a gross development value in excess of RM430 million. This includes the second phase of commercial shoplots at “Tropicana Aman” in Kota Kemuning, the fourth landed residential phase at “Tropicana Heights” in Kajang, a new commercial phase at “Tropicana Metropark” in Subang Jaya and the second residential phase at “Tropicana Danga Cove” in Johor.

(The Edge Financial & The Star, 27/11/2018)


GROUP SECURES 99.8% VOTES AT EGM

At an extraordinary general meeting (EGM), Media Prima Bhd received 99.8% of shareholders’ votes for the sale and leaseback of its properties. On August 30, 2018, Media Prima entered into sale and leaseback agreements with PNB Development Sdn Bhd for properties owned by The New Straits Times Press (Malaysia) Bhd (NSTP), which includes Balai Berita Shah Alam and Balai Berita Bangsar for a total of RM280 million. Upon completion of the sale, the group will realise an estimated gain of RM127.7 million. Media Prima will continue to operate from both locations as stipulated under the agreement.

(NST, 27/11/2018)


 

KERJAYA PROSPEK SECURES DEALS WORTH RM282 MILLION

Kerjaya Prospek (M) Bhd has secured two contracts worth RM282.25 million from Nusmetro Group for construction works in Kuala Lumpur. Scheduled to be completed by September 25, 2020, the first contract (worth RM29.82 million) is for substructure works for a proposed commercial development at Mont Kiara, which comprises a three-storey basement car park and a 51-storey office building. Set to commence on February 1, 2019, and to be completed by March 31, 2022, the second contract (worth RM252.43 million) is for the construction of the main building of a commercial project on Jalan Cheras.

(The Sun, The Star & The Edge Financial, 27/11/2018)


 

GFM COMPLETES ACQUISITION OF KPMD

GFM Services Bhd (GFM) has completed the acquisition of university asset concessionaire KP Mukah Development Sdn Bhd (KPMD) from Kumpulan Parabena Sdn Bhd, for RM122.5 million. KPMD has a 23-year concession awarded by the Malaysian Government and Universiti Teknologi Mara (UiTM), which entails three years of the design and construction of the UiTM Mukah campus in Sarawak and 20 years for the provision of facilities management.

(NST & The Star, 28/11/2018)


TITIJAYA TO LAUNCH PROJECTS WORTH RM838 MILLION IN FY19

In FY19, Titijaya Land Bhd plans to launch three projects worth a total Gross Development Value (GDV) of RM838 million. The new launches comprise Phase 1 of Damaisuria @ Subang, which carries an estimated GDV of RM180 million, Phase 2 of 3rdNvenue @ Embassy Row (RM338 million) and Phase 1 of Riveria City @ KL Sentral (RM320 million).

(The Edge Financial, 30/11/2018)


HOME CO-CREATED BY MALAYSIANS FOR MALAYSIANS UNVEILED

A home designed and built based on survey findings of what the majority of Malaysians desire in a home has been unveiled by S P Setia Bhd. Located at Setia Ecohill 2 in Semenyih, “Baccas” is a 2-storey terraced house with a land size of 20 ft. x 70 ft. With four bedrooms and three bathrooms, with a built-up area of 1,652 sq. ft. it is indicatively priced at RM523,000.

(The Edge Financial, 29/11/2018)


4,907 HOUSES ABANDONED STATEWIDE

Selangor has reported a total of 4,907 abandoned houses state-wide through data gathered by the local authorities. Shah Alam was the largest contributor, accounting for circa 40% (1,995 houses) of the overall figure. This was followed by Kuala Langat (988), Subang Jaya (568), Ampang Jaya (360), Selayang (190), Petaling Jaya (178), Sepang (152), Kuala Selangor (150), Klang (119), Kajang (114), Hulu Selangor (63) and Sabak Bernam (30).

(The Sun, 30/11/2018)


 

RETAIL GROUP MALAYSIA UPS NATION’S RETAIL SALES GROWTH FORECAST

Retail Group Malaysia (RGM) has raised its 2018 growth forecast for Malaysia’s retail sales to 4.4% from 4.1% after taking into consideration the industry’s better performance in 3Q18 and expected moderate growth for 4Q18. For 2019, RGM has projected a 4.5% growth rate in retail sales as the government will continue to distribute one-off monetary contributions to Malaysians. A minimum wage increment of RM50 will also lessen the financial burden of on the B40 (bottom 40%) group.

(The Edge Financial, 28/11/2018)


 

CENTRAL I-CITY TO OPEN ON JANUARY 12, 2019

Central i-City is scheduled to open on January 12, 2019. The RM850 million mall has a net lettable area of 940,000 sq. ft. and will include 350 retail shops with three basement car park levels and six levels of retail. Set to be fully occupied by early 2019, the mall has achieved 73% pre commitment with anchor tenants such as the Sogo Department Store, TGV Cinemas and Village Grocer.

(NST, 29/11/2018)


 

NEW CONCEPT STORE BY BOUTIQUE BAKERY

BreadTalk has opened its concept store in Avenue K Shopping Mall in Kuala Lumpur. One of the key features of the concept store is its open kitchen, emphasising the objectives of BreadTalks’s masterchefs in providing transparency and insights into their bread-making process. The retailer plans to open three more concept stores in Plaza Low Yat, IOI Mall Puchong and Kuala Lumpur International Airport 2 by the end of 2018 and three additional stores in 2019, including its first flagship store at Star Boulevard in Kuala Lumpur in 2Q19.

(The Star, 28/11/2018)


 

CHINA HOME LIVING BRAND OPENS FIRST OUTLET AT GLO DAMANSARA MALL

In 1H19, China lifestyle home living brand “Samanea by LESSOHOME” will open its first outlet in Southeast Asia at the Glo Damansara Mall. The 165,000 sq. ft. store will occupy more than 80 lots from the ground floor to level 3 of the mall and will offer a wide range of home products such as furniture, kitchen cabinets, lighting and sanitary products. LESSOHOME also announced a collaboration with Lazada named “LSDD”, which is an online product experience centre concept store that displays products ranging from furniture to electronic goods. Slated to open by 1H19, LSDD will be located on the second and third levels of Glo Damansara Mall, taking up 31,427 sq. ft. of space within the mall.

(The Edge Property, 29/11/2018)


 

RESORTS WORLD GENTING OPENS EMPIRE BY ZOUK

On November 21, 2018, Resorts World Genting (RWG) officially opened the newest concept of clubs, “Empire by Zouk” (one of Zouk Genting’s two club outlets, and one of the newest concepts introduced under the “Zouk umbrella”). Located in Sky Avenue RWG, Empire is part of Zouk Atrium which encompasses the main club Zouk, Empire by Zouk, RedTail by Zouk, RedTail Karaoke, a RedTail BBQ outlet and Fuhu (a new vibe dining restaurant in 2019). Spanning 5,000 sq. ft. and located inside the 40,000 sq. ft.

(The Edge Property, 29/11/2018)


 

BUKIT BINTANG PROJECT ON TRACK TO MEET TARGET

The Bukit Bintang City Centre (BBCC) project is on track to complete its first phase by 1Q21. Occupying circa 19.8 acres of land, the project has reached 25% completion within the first phase and developers anticipate that the overall completion will conclude as planned in 2025. BBCC is a joint venture between Eco World Development Group Bhd, UDA Holdings Bhd and the Employees Provident Fund Board. The first phase of the project includes 43 levels of stratified offices (The Stride), Mitsui Shopping Park Lalaport and an entertainment hub comprising Zepp KL by Sony, Malaysia Grand Bazaar and Regus. Mitsui Shopping Park Lalaport will take on eight levels and occupy a floor area of more than 1.49 million sq. ft., whereas the entertainment hub occupies 10 floors and is connected to the retail mall to provide a seamless retail-tainment experience. The second phase will involve the completion of Lucentia serviced apartments and Canopy by Hilton with 456 rooms. BBCC will welcome the first Canopy by Hilton in Asia after the US, China, Croatia, Iceland and the United Kingdom. To ease traffic congestion in the area, tunnels to Jalan Galloway from Jalan Hang Tuah and another on Jalan Changkat Thambi Dollah, will be built along with a new transportation hub to link the Hang Tuah Light Rail Transit station and the Merdeka Mass Rail Transit station.

(The Star, 24/11/2018)


 

GAMUDA LAND AIMS TO LAUNCH FIRST SERVICED APARTMENT PROJECT IN GAMUDA COVE BY JANUARY 2019

Gamuda Land will be unveiling its first serviced apartment project in its 1,530-acre “Gamuda Cove” development within the next two months. Set to be launched in phases and completed in 2022, the 1,000 serviced apartment units will be spread across five to six blocks, with built-ups ranging between 650 sq. ft. and 950 sq. ft. With a gross development value of RM20 billion, “Gamuda Cove” is a leasehold development which is scheduled for completion in 2038. In September 2018, the company soft-launched its first phase of residential terraced homes, known as “Palma Sands”. Slated to be completed in 2021, all 180 terraced homes have been fully booked and the second phase of its landed residential scheme is planned to be launched in 2Q19.

(The Edge Property, 26/11/2018 & The Star, 27/11/2018)


 

GAMUDA COVE’S DISCOVERY PARK TO WELCOME TOURISTS IN MID-2019

Set to commence operations in mid-2019, Gamuda Land envisions that the 50-acre Discovery Park at its 1,530-acre Gamuda Cove will be the next tourism and entertainment hub in Southern Klang Valley. The company has also unveiled six key strategy partners including Aerophile, AKA Balloon, Blastacars, Invade, Kitchen Mafia and Caravan Serai, all of which will be participating in Discovery Park’s development. The Discovery Park is part of Gamuda Cove’s 372-acre commercial area dedicated to a plethora of exciting experiences including shopping and dining, leisure and recreational activities.

(The Edge Property, 26/11/2018 & The Star, 27/11/2018)


 

WORLD’S FIRST COMMONWEALTH YOUTH CITY

Tanjung Malim in Perak has been launched as “the first Commonwealth Youth City in the world”. Set to be the Youth City of Asean. 8.9 acres of land has been identified for the building of the Commonwealth Youth Council and Commonwealth Youth Network headquarters, which will commence in two years. The Youth City will comprise an innovation hub, business hotel, SOHO suites and affordable homes for youths. Among its key components are the Commonwealth Innovation Centre and Youth Council Global Secretariat. The city will include high-technology systems, including blockchain, artificial intelligence, big data and other futuristic features.

(The Star, 28/11/2018)


DPI EYES BIGGER MARKET SHARE

DPI Holdings Bhd plans to capture the aerosol paint market in Asia Pacific with the proceeds from its initial public offering, which is expected to be carried out in early 2019. The company aims to raise RM31.6 million of which new RM23.5 million will be utilised for the construction of a factory with four fully-automated aerosol filling lines and for upgrading production lines in its Johor plant into fully-automated aerosol filling lines.

(NST, 28/11/2018)


 

CHINA IS THE TOP INVESTOR WITH US$1.6 BILLION OF INVESTMENTS

China was ranked as the largest foreign investor in Malaysia’s manufacturing sector from January 2018 to June 2018, with investments of US$1.6 billion. China also came up top in 2017 and 2016, with investments totalling US$949.4 million and US$1.1 billion, respectively.

(The Star & NST, 28/11/2018)


 

STATE OFFERS TANJUNG MALIM FOR THIRD NATIONAL CAR PROJECT

The Perak State Government is offering Tanjung Malim for the setting up of a hub should the third national car project materialise. The third national car project is still on the drawing board and has yet to be confirmed.

(The Star & The Sun, 28/11/2018)


 

ZHEJIANG XSD PLANS RM1.2 BILLION GREEN PAPER INDUSTRY PARK IN KULIM

With an estimated investment value of RM1.2 billion, China-based Zhejiang XSD Holding Group Co Ltd plans to develop a green paper industry park in Malaysia. The park will be developed on a 300-acre site in Padang Meha, Kulim.

(The Sun, 30/11/2018)


 

AIRBNB TO COLLECT AND REMIT TOURIST TAX ON BEHALF OF HOST AND GUEST

Airbnb and local authorities are discussing the implementation of Voluntary Collection Agreements (VCAs) which will enable the platform to collect and remit tourist tax on behalf of its hosts and guests in Malaysia. VCA is designed to facilitate a streamlined process and lighten the administrative burden for local and state governments and Airbnb hosts. However, there is no time frame for the implementation of the VCA as of yet.

(The Edge Property, 26/11/2018)


 

LANGKAWI HOTEL’S SUCCESS

The success of Dash Resort’s managing company (Ri-Yaz Hotels and Resorts) turning a once government-owned property into an attractive resort in Pantai Tengah Langkawi, suggests that the Malaysian Government should not be involved in the hospitality business, but should instead leave it to the private sector. Ri-Yaz Hotels and Resorts is confident that Dash Resort, will be a great addition to what Langkawi has to offer and will hopefully improve tourism on the island.

(NST, 26/11/2018)


AIRBNB MALAYSIA POSTS 99% GROWTH

Airbnb announced a 99% y-o-y increase in guest arrivals in Malaysia, having welcomed more than two million guests over the past two years. There are now 44,000 Airbnb listings in Malaysia, resulting in an approximate y-o-y increase of 60%. Airbnb also signed a memorandum of collaboration with the Malaysian Productivity Council (MPC) and a memorandum of understanding with Malaysia Digital Economy Corp (MDEC) to drive the development of tourism in Malaysia.

(NST & The Sun, 27/11/2018)


 

HYATT HOUSE TARGETS BUSINESS, LEISURE TRAVELLERS

The four-star “Hyatt House KL Mont’Kiara” is part of “Arcoris Mont’ Kiara” (a development by UEM Sunrise Bhd), which is targeting businesses and travellers from Southeast Asia. Hyatt House has 298 guestrooms comprising 450 sq. ft. studios and one and two bedroom suites of 480 sq. ft. and 750 sq. ft., respectively. The published rate for a studio unit is RM400 per night, while the suites range between RM450 to RM550 per night.

(NST, 29/11/2018)


 

IPOH REHAB CENTRE, HOSPITAL TO BE “LARGEST IN SOUTHEAST ASIA”

A complex comprising a rehabilitation centre and hospital will be built in Ipoh, Perak, for Social Security Organisation (Socso) members. Sprawling across 98.8 acres of land, the RM500 million one-stop complex is expected to be “the largest” in Southeast Asia. The rehabilitation centre and hospital will provide facilities to all Socso members, especially those in Selangor and Perlis and will generate up to 500 jobs.

(NST, 25/11/2018)


 

GENTING SUES DISNEY, FOX FOR US$1 BILLION

Genting Malaysia Bhd is suing Walt Disney Co and Twenty-First Century Fox Inc for more than US$1 billion, accusing them of abandoning a contract related to its planned construction of the first Fox-brand theme park. Genting has made a “US$750 million-plus investment” in Fox World, which was scheduled to be completed in 2020.

(The Edge Property, 27/11/2018; NST & The Star, 28/11/2018)


 

 

I-CITY’S OWN CONVENTION CENTRE OPENS

I-Berhad has officially opened its i-City Convention Centre @ CentralWalk. Located adjacent to its up-and-coming shopping centre, the 0.44 acre convention centre has 6,500 parking bays. The convention centre provides a platform for residents and foreign visitors to host weddings, meetings and events as it can house 1,000 guests in a banquet-style seating or 2,000 guests in a theatre-style seating. The building will be connected to two other convention centres, three hotels, a medical hub and the shopping mall.

(The Star, 26/11/2018)


 

MORE MNCS AND STARTUPS LIKELY TO SET UP HUBS IN MALAYSIA

In 2019, Randstad Malaysia (human resource services provider) expects to see more multinational companies (MNCs) and startups set up their headquarters or regional hubs in Malaysia due to favourable tax policies and low labour cost. Randstad expects to encounter higher demand for finance planning managers, as foreign and Malaysian companies are predicted to set up more offices and site operations in the country in 2019.

(NST, 27/11/2018)


 

PUTRAJAYA MONORAIL RFP TO BE CALLED JANUARY 2019

The Transport Ministry and Putrajaya Corp (owner of the Putrajaya Monorail project) will issue a request for proposal (RFP) in January 2019, after which contractors may submit their proposals for the long-delayed rail project. With an estimated cost of between RM1.4 billion and RM2 billion (excluding land acquisition costs), the project originally began as a light rail transit system within Putrajaya but was converted into a Monorail project due to the insufficient population density of the administrative capital. The Monorail’s plans entail two lines: Line 1 being 13.2km with 18 stations and Line 2 being 6.8km with seven stations.

(The Edge Property, 24/11/2018)


 

NATIONAL STATUS FOR JERAI GEOPARK

The Jerai Geopark in Kedah has been renamed and inaugurated as a national geopark. The 197,684 acre Jerai Geopark spans across two districts, which include Yan and Kuala Muda. The area lies within the geo-diversion of the Jerai Formation, Mahabang Formation and Jerai Granite and the 550-million-year-old Jerai rock formation is the highest at 1,217m above sea level.

(NST, 25/11/2018)


 

MAYBANK ISLAMIC ALLOCATES RM1 BILLION FINANCING FOR SEWA MILIK SELANGORKU

Maybank Islamic Bhd will allocate RM1 billion in financing for the Sewa Milik Selangorku programme for 4,000 residential units in areas such as Bangi, Sungai Buloh and Ampang. The rent-to-own solution is developed based on the Ijarah contract (a Shariah principle of leasing) and will provide tenants with a fixed 10 year rental payment and the locking-in of property prices. Under this programme, first time applicants will obtain 100% financing and pay a low monthly rental. From the monthly rental, 20% of the rental amount will be kept by the bank as reserves, the total amount of which will be returned to participants at the end of the 10 year lease period or earlier if they convert their rental into a mortgage payment.

(The Star, 27/11/2018)


 

 

IQI PARTNERS WITH FINOLOGY TO FACILITATE LOAN APPROVAL

IQI Realty Sdn Bhd has formalised a deal with Finology Sdn Bhd to utilise its instant loan eligibility check system for property buyers via their product “Loanplus”. With “Loanplus”, buyers can find out detailed information including their loan eligibility and best matched property loan with 17 financial institutions in merely 10 minutes. Under the partnership, IQI could rapidly qualify property buyers, thereby increasing the conversion rate for bookings into sales.

(StarProperty, 26/11/2018)


LAZADA TO SELL HOUSES ONLINE

Lazada Group will begin selling houses on its online shopping platform and is planning its next shopping festival (“12.12”) to improve sales. The company is working with Mah Sing Group Bhd to sell houses at “a specific location”.

(The Star, 28/11/2018)


 

JOHOR ATTRACTS RM8 BILLION INVESTMENTS FROM GLOBAL COMPANIES

Johor remains attractive to foreign investors and has attracted RM8 billion in investments from global companies to be invested in the state in 2019. Potential investors in the high-tech industry originate from China, Japan, Singapore, South Korea, France and the United States. Costing RM191 million, Johor Corporation (the Johor State-investment arm) will undertake the development of Phase 2 of the Pengerang industrial area in Kota Tinggi covering 289 acres. The project will support oil and gas-related (O&G) activities in the state, which will be in tandem with the aim of transforming and developing Johor as a major O&G hub.

(The Star, 30/11/2018)


 

NEW RMBJ HOMES TO BE BUILT ACCORDING TO FOUR CRITERIA

The Johor State Government will construct affordable housing under its Rumah Mampu Biaya Johor (RMBJ) housing scheme according to four criteria (monthly household income, urbanisation, the districts involved and the waiting list for the scheme) to deliver the targeted 100,000 units of affordable homes under RMBJ by 2023. Under the new criteria, the districts will be categorised under three zones: Zone A (Johor Baru and Kulai), Zone B (Batu Pahat, Muar, Segamat and Kluang), and Zone C (Pontian, Kota Tinggi, Mersing and Tangkak). A new price category for affordable homes will range between RM250,000 and RM300,000 for the M40 group, which earns between RM8,000 and RM10,000 monthly. However, the ceiling price of affordable homes under RMBJ remains at RM42,000, RM80,000 and RM150,000 each for the B40 group.

(The Edge Property, 26/11/2018)


 

THE ENCLAVE PHASE 2 LAUNCH IN 2Q19

In 2Q19, Pulai Springs Resort Sdn Bhd will launch Phase 2 of “The Enclave” in Jalan Pontian Lama, Johor. Priced between RM1.6 million and RM2.9 million, Phase 2 comprises a total of 34 semi-detached houses and bungalows.

(NST, 29/11/2018)


 

 

PENANG HOPES TO RECEIVE RM14.6 MILLION FROM THE HOUSING AND LOCAL GOVERNMENT MINISTRY

The Penang government hopes to secure RM14.6 million in allocations from the Housing and Local Government Ministry for the 1Malaysia Maintenance Fund (RM14 million) and People’s Housing Project (RM600,000).

(The Edge Property, 27/11/2018)


 

STOP-WORK ORDER DELAYS BUKIT KUKUS PAIRED ROAD PROJECT

The RM545 million Bukit Kukus paired road project may only be completed in late 2020 or early 2021 as it faces uncertainty over a stop-work order since October 19, 2018. The Penang Island City Council had paid RM169 million to Yuta Maju Sdn Bhd (contractor) for 70% of the council’s portion of the completed work amounted to RM275.6 million. The remaining 30% will be delayed as it is uncertain when the Department of Occupational Safety and Health will lift the stop-work order.

(The Star, 29/11/2018)


 

SETIA’S FIRST TOWNSHIP IN THE NORTH

SP Setia Bhd’s latest 1,675 acre township “Setia Fontaines” in Bertam, Penang, is targeted to be launched soon. With an estimated gross development value of RM9.6 billion, the township will comprise 16 residential precincts, a 270 acre commercial and retail component, a 63 acre lake and a 37 acre park. Setia Fontaines’ commercial component will comprise the Setia International Waterfront Centre, which will feature the Setia Experience Centre, Oriental Club, main clubhouse, convention centre, retail and lifestyle streets, auditorium and hotel and the Setia Fountaines City Centre, which will offer serviced apartments, office towers, a medical centre, international school, shopping malls and strata shops. As an alternative to road travel, the developer also plans to have water taxis (via waterways) to ferry residents between designated locations within the township and the commercial areas.

The first properties to be launched at Setia Fontaines will comprise 489 houses at the Fountain of Rinjani and Fountain of Jimbanee residential enclaves in Precinct 6, 398 houses in Precinct 1 and 111 shop offices in the City Centre Business Hub. Indicative selling prices start at RM330,000 for Precinct 1, RM360,000 for Precinct 6 and RM700,000 for the shop offices. As for the gated and guarded Precinct 6, it will comprise 1 and 2 storey terraced houses, cluster houses, semi-detached houses and bungalows. The land area is 24ft. x 70ft. for the 1-storey terraced house (built-up: 1,395 sq. ft.), 22ft. x 70ft. for 2 storey terraced houses (1,867 sq. ft.), 50ft. x 85ft for the 1 storey bungalows (2,317 sq. ft.) and 50ft. x 85ft. for the 2storey bungalows (3,257 sq. ft.).

(The Edge Financial, 30/11/2018)


 

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Jones Lang Wootton