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ALIBABA OPENS FIRST STORE IN MALAYSIA

Alibaba Group’s unit, Lumahgo Sdn Bhd is collaborating with Tmall World (a spinoff of Chinese online shopping website, Taobao) and Lorenzo (a lifestyle furniture retailer) to set up its first retail store in Malaysia. Occupying 500 sq. ft. of retail space, the Lumahgo X Taobao Selection Store is located within Viva Home Shopping Mall, Kuala Lumpur. A second 15,000 sq. ft. Taobao Selection store is slated to open in January 2019 in Kota Kinabalu, Sabah.

(The Edge Property & The Star, 15/12/2018)


SUGARBUN VENTURES INTO NEW PHASE OF EXPANSION

Borneo Oil Bhd’s fast food restaurant chain, “SugarBun”, intends on expanding the “Broasted by SugarBun” kiosk network in Malaysia. Four “Broasted by SugarBun” kiosks are now in operations in Peninsular Malaysia, two kiosks in Johor Baru and one each in Pahang and Perak. In January 2019, an additional four kiosks will open, three of which will be situated in Sabah and one in Pahang.

(The Star, 17/12/2018)


RETAILER ROLLS OUT E-COMMERCE AGENDA TO DRIVE ONLINE SALES

MR DIY has devised an e-commerce agenda to support and impel the performance of its online retail stores. The comprehensive strategy, which will be rolled out in phases, expects to yield a 20-time uplift in the number of online orders, compared with figures that were registered approximately 14 months ago upon the launch of its online store. As part of MR DIY’s e-commerce strategy, the organisation invested in a new warehouse, which is equipped and “customised with advanced systems”. The 15,000 sq. ft. warehouse will store more than 20,000 products to offer a wider assortment of products, optimise business operations and meet customers’ constantly fluctuating demands.

(The Star, 17/12/2018)


UEM SUNRISE VENTURES INTO HOSPITALITY SECTOR

UEM Sunrise’s tie-up with Hyatt is seen as an opportunity to venture into the hospitality sector and diversify its property development business. Hyatt House Kuala Lumpur (HHKL) in Mont’Kiara is part of UEM Sunrise’s RM1.2 billion “Arcoris Mont’Kiara” development. HHKL 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 is RM400 per night, while the suites range from RM450 to RM550 per night.

(The Star, 15/12/2018)


PETROL STATIONS TO BE BUILT IN CAMPUSES

Petronas Dagangan Bhd will invest circa RM50 million in Teknologi Malaysia, Universiti Putra Malaysia, Universiti Teknologi Mara, Universiti Tunku Abdul Rahman and Universiti Teknologi Petronas by building petrol stations within the campuses. The petrol stations will be completed within 12 to 18 months.

(The Star, 15/12/2018)


REGENERATING SUBANG AIRPORT

Malaysia Airports Holdings Bhd (MAHB) is said to have issued requests for proposals (RFPs) to both local and international consultants for the Subang Airport regeneration project to be undertaken on a 1,063 acre site. The RFPs are to appoint a master planner for the concept and design. With an estimated total development cost of between RM1.5 billion and RM2.5 billion, the regeneration could take up to a decade to complete, which would be contingent on final concepts and design. Upon completion, the new terminal will be able to handle five million passengers from the current three million. Of the entire 1,063 acre development, the only “green field” is a 60 acre site near Subang Skypark, which MAHB plan to develop into an aerospace park costing circa RM400 million.

(The Star, 17/12/2018)


THE KLANG VALLEY’S EVER CHANGING RETAIL SECTOR – AN ARTICLE BY JONES LANG WOOTTON

The retail environment in Malaysia has undergone a continuous and marked change over the past few decades. Since the early 1990s, retail centres have experienced major evolution in layout, design, concept and tenant mix to meet consumers’ ever-changing preferences. Back in the early 1990s, underpinned by the “booming” economy, there was a significant amount of retail centre development in the Klang Valley, and before a substantial increase in the rate of new supply emerging in 1998, the average occupancy rate was in excess of 90%. During the 1990s, the peak year for completions of retail centres was 1997, when 4.4 million sq ft was completed and by 2000 the occupancy rate declined to 83%. There was a small increase to 85% by 2010, but the average occupancy rate has declined to 76% since then. The “prime” retail centres in the Klang Valley have registered many years of good performance with steady growth throughout the 2000s. Many owners and investors have invested in and managed their retail centres with the purview that ‘bigger is better’ and some owners of the more successful, prime developments have extended their lettable area to increase their attractiveness and increase market share.

Currently, in terms of number, only 2% of retail malls in the Klang Valley are in excess of 1.5 million sq ft (net) and 3% are in the range of 1.0 million to 1.5 million sq ft, represented by eleven malls. The vast majority of shopping centres (85%) are below 0.5 million sq ft. Caused by a general oversupply of retail centres, an unsettled economy and weaker consumer spending, challenges in the Klang Valley’s retail market are expected to continue. The majority of the Klang Valley’s purpose-built shopping centres of 69.2 million sq ft, or 73% representing 50.8 million sq ft, is located in the Greater Kuala Lumpur area and 27%, or 18.4 million sq ft, is located in the city centre. It should be noted that the potential total future supply equate to a hefty 68% of the existing stock. There is a future supply of 47 million sq ft, of which 27%, or 12.5 million sq ft, is expected to be completed by the end of 2020. The remaining 34.5 million sq ft, or 73%, is still at various stages of planning or very early construction stages. This future supply is expected to be completed in the post-2020 era. The new shopping centres and malls are expected to detrimentally affect the performance of older, secondary and less-up-to-date malls. The strong competition has resulted in some older malls having fewer footfalls because of their limited array of retailers and merchandise and, in some cases, poor maintenance and management.

Retailers are also facing weaker and more prudent consumer spending as the economy remains in a state of flux. Notably, in 3Q18, the Consumer Sentiment Index indicated by the Malaysian Institute of Economic Research decreased from 132.9 points in 2Q18 to 107.5 points, due to the trending cautious and selective spending plans. As at 3Q18, the average occupancy rate of prime and secondary grade retail centres in the city centre were 90.1% and 68.7%, respectively, whereas in Greater Kuala Lumpur, prime and secondary space were 90% and 63.8% occupied, respectively. Well established ‘prime, regional malls’ have steady footfalls, allowing their good and experienced management teams to maintain occupancy levels in excess of 90%. Smaller neighbourhood malls and some recently completed and opened retail centres, however, have been slow to attract sufficient retailers, resulting in average occupancies of less than 70%. Occupancy rates in poorly managed, designed and developed retail centres and podiums without the proper ‘homework’ having been done will be under pressure. By the end of 2020, the existing supply could reach 81.7 million sq ft, if all of the 30 projects under construction are completed on schedule. It is recommended that developers should only commence construction if they have a good level of pre-commitments from anchor and major retailers.

Note: This is the first of a two-part article written by Jones Lang Wootton (Research and Consultancy) – Part 2 will appear on 22/12/2018.

(The Star, 15/12/2018)


GOVERNMENT TO REJUVENATE CYBERJAYA AS A TECH HUB

The Malaysian Government will rejuvenate Cyberjaya as a technological hub due to the massive potential of Malaysian technology firms in achieving high growth. Currently, Cyberjaya has been marketed as more of a real estate destination rather than being a technological hub.

(NST, 15/12/2018)


RETAIL SECTOR POSITIVE BUT CHALLENGING

While the number of shopping malls in Malaysia has risen to “distressing” levels, the Malaysian Shopping Malls Association’s (PPK Malaysia) Malaysia Shopping Mall Industry Survey 2018 reveals that the local retail property sector remains resilient, despite the current market glut. The survey, which comprised 47 respondent malls, revealed that the average occupancy rate stood at 92%, with an average monthly gross rental rate of RM7.87 per sq. ft.

(The Star, 15/12/2018)


JOHOR LAND BHD EYES RM50 MILLION SALES

Johor Land Bhd (JLand) is targeting sales of RM50 million from its three-day “Festival JLand@Bandar Dato’ Onn”. The properties on sale are located in Bandar Dato’ Onn, Pasir Gudang, Batu Pahat, Bandar Tiram and Kempas and comprise commercial units, bungalows, semi-detached houses and double-storey terraced houses.

(NST, 17/12/2018)


YFG’S RM40 MILLION CONTRACT WITH ATTA GLOBAL UNIT TERMINATED

YFG Bhd has received a termination letter from Atta Global Group Bhd’s unit, Atta Properties Sdn Bhd, to stop construction works for a RM40 million project on Jalan Sultan Azlan Shah in Penang. The contract that was issued on August 10, 2018, entailed the construction of a 23-storey building comprising 62 apartment units and 38 office units for Atta Global’s 55%-owned subsidiary, Tetap Gembira Development Sdn Bhd. As per the contract, the project was scheduled to commence on October 1, 2018, for a period of 24 months.

(The Edge Property, 15/12/2018)


IDEAL UNITED BULLISH ON DEMAND

By 1Q19, Ideal United Bintang International Bhd is targeting to complete the acquisition of RM1.4 billion worth of residential property projects on Penang island from Ideal Property Group. The projects (Imperial Grande, Imperial Ville, The Amarene and Mori condominium schemes) are planned for development in Sungai Ara and Bayan Lepas, comprise mid-range condominiums priced at between RM500,000 and RM700,000 per unit.

(The Star, 17/12/2018)


WORLD BANK CUTS MALAYSIA’S 2018 GDP GROWTH FORECAST

The World Bank has revised to its projection for Malaysia’s 2018 gross domestic product (GDP) growth downwards, from 4.9% to 4.7% after accounting for the rigorous rationalisation of expenditure by the government and the slowdowns in private and public investment. In 3Q18, Malaysia’s GDP growth moderated to 4.4%, bringing about a nine-month expansion of 4.7%. Despite a moderation in growth, the World Bank believes that the economy remains resilient and continues to be anchored by private consumption, although this has been declining after the reintroduction of the sales and service tax.

(The Sun & NST, 19/12/2018)


SELANGOR MBI COMMITTED TO REALISE SMART SELANGOR VISION

Selangor Menteri Besar Incorporated (MBI) is committed in continuously promoting the “Smart Selangor” programme to the people in an effort to transform Selangor into a smart state within the Asian region by 2025. The move is to ensure that the people of Selangor will benefit from various initiatives introduced by the State Government in order to improve the quality of their lives.

(The Edge Property, 17/12/2018)


GAMUDA IBS TO AID IN AFFORDABLE HOUSING PLAN

Gamuda Bhd, has two Industrialised Building System (IBS) factories capable of producing 10,000 housing units a year, is well-positioned to help the government meet its target of 200,000 affordable housing units by 2020, as outlined in the 11th Malaysia Plan. The first Gamuda digital IBS factory in Sepang is currently operating at maximum capacity, thereby producing 3,000 housing units annually. Set to meet the needs from anticipated growing demand in the housing sector, Gamuda IBS will soon open a second factory on a 66.7 acre site in Banting, Selangor.

(The Sun, 18/12/2018)


PERAK VILLAGE 1ST LOCATION FOR DESA HARAPAN PROGRAMME

Kampung Kinjang, Chenderiang, Perak has been chosen as the pioneer project location for the Desa Harapan (Village of Hope) Programme, which aims to develop villages and improve the standard of living of rural communities. The Desa Harapan programme is targeting one village for each state every two years commencing from 2019 until 2020.

(NST, 19/12/2018)


LAND TITLES HANDED OVER TO 5,772 OF FELDA SETTLERS IN PERAK

To date, the Perak State Government has completed the handing over of land titles to 5,772 Felda settlers in Perak. Currently only 545 settlers have yet to receive land deeds from Felda Ijok in Kubu Gajah, Felda Trolak Timur, Felda Trolak Selatan and Felda Gunung Besout 3. Settlers in these areas are scheduled to receive their respective deeds by 1Q19.

(The Edge Property, 18/12/2018)


EXPERT TO ANALYSE TOLL CONCESSIONS

By January 2019, an independent consultant will be appointed to analyse all toll concessions and assist the Malaysian Government with the reduction of toll rates. As at November 2018, there were 29 tolled expressways operating nationwide.

(The Sun, 18/12/2018)


SOLUTION IN SIGHT FOR “TRAFFIC NIGHTMARE” IN MAHKOTA CHERAS

The Kajang Municipal Council (MPKJ) has come up with a traffic management plan to resolve congestion on Persiaran Mahkota Cheras 1 and Lebuh Utama Tun Hussein Onn. The intersection and the main road under the Cheras-Kajang Expressway will be widened from two to three lanes in both directions. With an estimated cost of RM1.2 million, the project is slated to be completed by May 2, 2019. The flyover will also be constructed to connect the intersection to the main road in both directions at a cost of RM40 million, which will be borne by the developer, Magna Bay Sdn Bhd.

(The Star, 18/12/2018)


PASSENGER MOVEMENT AT KLIA, KLIA2 EXPECTED TO SURGE IN DECEMBER 2018

In December 2018, Malaysia Airports Holdings Bhd (MAHB) expects passenger movement at the Kuala Lumpur International Airport’s (KLIA) main terminal and KLIA2 to increase by 12% and 21%, respectively. MAHB projected 6.9 million passengers travelling via KLIA during the school holidays and Christmas festive season. There will be 194 additional flights scheduled to cater to passengers flying to both international and domestic destinations during the long break, which also coincides with the umrah (mini haj) season.

(NST, 19/12/2018)


AIRASIA MALAYSIA TO ADD MORE PLANES

AirAsia Malaysia could emerge as South-East Asia’s largest airline in 2019 based on passenger traffic and seat capacity, thereby overtaking current leader, Lion Air. The growth will be attributed by all its five bases (Kuala Lumpur International Airport 2, Johor Baru, Kota Kinabalu, Kuching and Penang). AirAsia Malaysia also plans to add five or six new aircraft to its fleet in 2019 (including A321neos) and by 2020 it will have over 100 aircraft. In 2017, AirAsia Malaysia carried 29.2 million passengers with 94 aircraft and stood as the second largest South-East Asian airline in terms of passenger traffic, while Lion Air was in the top spot with 35.4 million passengers being transported by 115 aircraft. The CAPA Centre for Aviation optimistically expects AirAsia Malaysia to carry 32 million passengers in 2018, and up to 36 million in 2019.

(The Star, 19/12/2018)


SHOPEE ENDS 2018 ON A HIGH

On December 12, 2018 (during Shopee’s 12.12 Birthday Sale), Shopee recorded in excess of 12 million orders across the region, surpassing all past records, including the recent Shopee 11.11 Big Sale. Supported by more than 450,000 brands and merchants, Shopee recorded 48 million visits as users completed 60 million deals across all categories. In Malaysia, the top three most popular categories were: health and beauty, home and living and baby and toys and Watsons, Nestle, Pet Pet, Realme and Petronas are among user favourites.

(NST, 18/12/2018)


PANORAMIC CINEMA TO MAKE ITS DEBUT AT PJ MALL

Golden Screen Cinemas (GSC) announced it plans to launch its first three ScreenX theatres and three additional 4DX theatres in Malaysia. ScreenX is a panoramic, 270° cinema that projects films onto three walls of the auditorium. It will be launched at the 1 Utama Shopping Centre in 2019 and the two additional theatres will open in 2020. Meanwhile, the first of the three 4DX theatres will open by the end of December 2018 at 1Utama Shopping Centre. Theatres in IOI City Mall, Putrajaya and Southkey, Johor Baru will open in 2019.

(The Star, 19/12/2018)


MALAYSIA HAS POTENTIAL AS A WEDDING DESTINATION

The Ministry of Malaysia Tourism, Arts and Culture (MOTAC) aims to promote Malaysia as a wedding destination to elevate tourist arrivals to Malaysia. Hotels in Langkawi are among the venues that are set to be promoted as wedding venues, whereby India is one of the “target countries” as approximately 600,000 visitors from India visit Malaysia annually. MOTAC is aiming to achieve 700,000 tourists from India in 2019 and 2020.

(NST, 19/12/2018)


GENTING THEME PARK ON TRACK FOR COMPLETION IN EARLY 2019

Despite being locked in a legal battle worth over US$1 billion (RM4.17 billion) with Walt Disney Co and Twenty-First Century Fox, Genting Malaysia Bhd is foresees that its theme park in Genting Highlands will be completed in early 2019. The theme park is only a diminutive part of expansion plans for the Resorts World Genting complex located between Pahang and Selangor.

(The Edge Property, 18/12/2018)


ASIAN BUYERS FAVOUR BRANDS THAT CHAMPION SOCIAL ISSUES

According to Purpose in Asia (a new report from Kantar), circa 90% of consumers in Asia (93% in Malaysia) would like brands to get involved in the issues they are concerned about, meaning that an authentic brand purpose is now an expectation. Findings have shown that 64% of respondents in Malaysia are more likely to purchase brands aligned with their views, whereas 65% are contented to pay more for brands with sustainability credentials.

(NST, 18/12/2018)


MALAYSIA’S COST OF LIVING RISES BUT STILL HAS SOME OF THE CHEAPEST LOCATIONS FOR FOREIGN WORKERS

According to the latest Cost of Living survey by ECA International, Malaysian cities have gone up around twenty places in the cost of living rankings in all three surveyed locations (Kuala Lumpur, Johor Bahru and Penang), but are still sitting outside the global top 150. Though, Kuala Lumpur is now more expensive for foreign workers than many of the locations that ranked higher in the 2017 rankings (New Delhi, Manila, and Mumbai), Kuala Lumpur remains as one of the cheapest locations in Asia for overseas workers.

(The Edge Property, 17/12/2018)


MALAYSIANS PERCEIVE THAT “ONE IN TWO PEOPLE ARE JOBLESS”

According to Ipsos Malaysia’s “Perils of Perception 2018” publication, on average, Malaysians estimate circa 49% of locals are unemployed and are looking for work, whereas the actual figure is actually as low as 3% (a 46% gap). The study also showed that Malaysians underestimate the size of the country’s economy relative to others, with an estimation that the country’s economy is ranked 120 out of the circa 200 countries in the world, while the actual ranking is 37. In addition, Malaysia greatly overestimates the level of growth in its elderly population. The average guess at circa 57% of the population will be above 65 years old by 2050, while the actual projection is only 16%.

(The Edge Financial, 19/12/2018)


S&P POLL: GLOBAL INVESTORS REGAIN CONFIDENCE IN MALAYSIA

Global investors have regained some level of confidence in Malaysia and its currency after the surprise victory of Pakatan Harapan in the General Election on 14th May 2018. Based on S&P Global Rating’s survey in a report titled, “Fixed-income investors cite trade disputes and Brexit as growing concerns”, circa 20.5% of polls intended on increasing their exposure to the ringgit.

(The Star, 19/12/2018)


WZ SATU SECURES RM133.5 MILLION GEMAS – JB DOUBLE TRACK CONTRACT

WZ Satu Bhd’s wholly owned unit WZS BinaRaya Sdn Bhd has secured a RM133.5 million subcontract job from SIPP-YTL joint venture to construct bridges between Genuang and Paloh, for the Gemas-Johor Baru (JB) electrified double track project. Scheduled to be completed by May 17, 2020, the scope of works encompasses the foundation of the superstructure.

(The Edge Financial & The Star, 18/12/2018)


TROVE JOHOR BAHRU – NEW CITY HOTEL BY CARE LUXURY HOTELS & RESORTS

TROVE Johor Bahru officially opened on December 18, 2018, making it the fourth hotel launched under the Care Luxury Hotels & Resorts Management Group. TROVE Johor Bahru’s 283 themed rooms are spread across 27 floors and the Grand Columbus Ballroom seats up to 800 guests.

(The Star, 18/12/2018)


BETONG AIRPORT SHOULD BOOST TOURISM IN NORTHERN STATES

“Tourism Malaysia” foresees a rise in tourism between Thailand and Malaysia, with the Betong Airport slated to open domestic flights by 2020 and international flights by 2021. The Ministry of Tourism has decided to focus on “border tourism”, including welcoming those from Brunei and Singapore.

(The Star, 18/12/2018)


MALAYSIA’S INFLATION RISES MARGINALLY IN NOVEMBER 2018

According to the Malaysian Department of Statistics, Malaysia’s Consumer Price Index (CPI) increased marginally to 121.0 in November 2018, from 120.8 in November 2017. The overall increase in the index is attributable to higher prices for housing, water, electricity, gas & other fuels (+2.0%); education (+1.4%); restaurants & hotels (+1.2%); food & non-alcoholic beverages (+1.1%); and alcoholic beverages & tobacco (+1.0%).

(The Sun, The Star & The Edge Financial, 20/12/2018)


RM139 BILLION INVESTMENTS IN JANUARY-SEPTEMBER 2018

Malaysia attracted RM139.3 billion in approved investments within the manufacturing, services and primary sectors in the first nine months of 2018, therefore denoting an 18% growth from RM118.1 billion during the corresponding period in 2017. Between January-September 2018, approved foreign direct investments increased by 109.7% from RM30.5 billion to RM64.1 billion in 2018, primarily driven by the manufacturing sector, which recorded an increase of 249.4%.

(The Sun, NST & The Edge Financial, 21/12/2018)


MAHB PLANS TO ATTRACT 10 NEW AIRLINES IN 2019

In 2019, Malaysia Airports Holdings Bhd (MAHB) aims to attract 10 new airlines from China, Middle Eastern countries and the Asian region, comprising both premium and low-cost carriers to Malaysia focusing on the Kuala Lumpur International Airport (KLIA), KLIA2, Penang International Airport, Kota Kinabalu International Airport and the Kuching International Airport. As for 2018, MAHB has attracted 13 airlines, whereby 11 have already commenced operations with two others becoming operational by the end of the year.

(The Sun, The Star & The Edge Financial, 20/12/2018)


AIR ASIA CALLS ON REGULATORS TO REVIEW MAHB’S PSC RATE HIKE

AirAsia Group Bhd has requested for regulators and policy makers to reject and rescind the decision by Malaysia Airports Holdings Bhd (MAHB) to raise the passenger service charge (PSC) to RM73, from RM50. The additional RM23 to be collected will amount to more than RM100 million a year, which will significantly contribute to MAHB’s bottom line rather than to the Malaysian Government.

(The Edge Financial & The Sun, 20/12/2018)


BCORP PLANS PRIVATISATION OF 7-ELEVEN AND BLAND, LIST U MOBILE AND HOTEL BUSINESS

Berjaya Corp Bhd (BCorp) plans to privatise its convenience chain store operator, 7-Eleven Malaysia Holdings Bhd and property and hotel business unit, Berjaya Land Bhd (BLand). The group has also set in motion plans to list its mobile telecommunications service provider, U Mobile Sdn Bhd on Bursa Malaysia and the hotel business of BLand under a new name on the Singapore Exchange (SGX) in 2019.

(The Star, The Edge Financial & The Sun, 20/12/2018)


JAG ACQUIRES KLANG LAND FOR RM14.4 MILLION

For future development purposes, JAG Bhd is acquiring 4.13 acres of freehold land in Klang from Hwee Seng & Co Sdn Bhd for RM14.4 million. The proposed acquisition of land will be completed in 2Q19.

(The Sun, 20/12/2018)


MK LAND DEVELOPING RM993 MILLION HOUSING PROJECTS IN IPOH

Within three to five years, MK Land Holdings Bhd plans to complete housing projects with a gross development value (GDV) of RM993 million in Ipoh. The projects in Klebang Putra and Meru Perdana will comprise 4,502 housing units, comprising affordable houses and shop houses. Upon completion, there will be 2,587 units in Klebang Putra with a GDV of RM452 million and Meru Perdana will comprise 1,915 units worth RM541 million.

(The Star, 21/12/2018)


PLATINUM VICTORY PLANS TWO CONDOMINIUM LAUNCHES IN 1H19

In 1H19, Platinum Victory Group plans to launch two high-rise residential projects with a combined gross development value (GDV) of RM787 million. Located on Jalan Langkawi, Setapak, Kuala Lumpur, “Residensi Platinum Teratai” with a GDV of RM360 million will be launched in January 2019. The 3-acre freehold condominium development comprises 800 units with built-ups of 928 sq. ft, have an indicative selling price is circa RM423,800.

(The Edge Property, 20/12/2018)


GLOMAC ALL SET FOR SHOPLOT LAUNCHES

With a starting price from RM1.5 million per unit, Glomac Group is set to launch 45 two-storey shoplots at “Lakeside Boulevard”, which is the commercial component of “Lakeside Residences” in Puchong. The company have sold circa 800 houses in “Lakeside Residences” in the past several years and it approximately 97% occupied.

(NST, 20/12/2018)


TURNER UPBEAT ON KUALA LUMPUR

Turner International LLC (the largest construction company in the United States) aims to cultivate its presence in Malaysia, specifically within the Kuala Lumpur metropolitan area and Greater Kuala Lumpur. Turner International’s long-term goal is to maintain Kuala Lumpur as its regional headquarters, whilst “expanding its service offerings and developing local leaders”.

(NST, 20/12/2018)


7-ELEVEN PLANS 200 NEW STORES IN 2019

In 2019, 7-Eleven Malaysia Holdings Bhd is looking to expand the number of convenience store chain outlets by at least 200. 7-Eleven Malaysia is the largest standalone convenience store chain nationwide with more than 2,250 outlets across the country and it opened 126 stores in 2017. 7-Eleven Malaysia Sdn Bhd also signed a memorandum of agreement with Pertubuhan Tindakan Pejuang Wanita Dalam Sosial, Ekonomi, Rumahtangga Dan Ilmu (Tiangseri Malaysia) to provide an opportunity to those interested to be franchisees to enter the ecosystem. The first store under the programme is scheduled to be opened in January 2019.

(The Sun, 20/12/2018)


A NEW LEASE OF LIFE

Co-labs Coworking (a co-sharing workspace) has announced its second establishment in Petaling Jaya, Selangor. The 20,000 sq. ft. office space at The Starling Mall in Damansara Uptown is the biggest and second instalment of co-working office space by Paramount Coworking, which is part of its expansion plan to offer four additional co-working spaces in 2019.

(NST, 20/12/2018)


CHUAN HUAT SIGNS MOU TO SUPPLY BUILDING MATERIALS WORTH RM200 MILLION

Chuan Huat Resources Bhd’s indirect wholly-owned subsidiary, Chuan Huan Industrial Marketing Sdn (CHIM) signed a memorandum of understanding (MoU) with Akisama Construction Sdn Bhd (ACSB) and Impianika Development Sdn Bhd (IDSB) to supply building materials worth up to RM200 million. The supply of materials is required for a mixed development known as Residensi Bandar Razak (RC Residences) in Kuala Lumpur, with a gross development value in excess of RM2.5 billion. Located on leasehold land measuring 853,157 sq. ft. on Jalan Sungai Besi, RC Residences comprises 12 blocks of buildings featuring 5,748 serviced apartment units and 121 two-storey shop offices.

(The Edge Property, 20/12/2018)


MRCB RECEIVES RM1.07 BILLION FROM EPF FOR BUKIT JALIL LAND DISPOSAL

Malaysian Resources Corporation Bhd (MRCB) has received RM1.07 billion from the Employees Provident Fund (EPF) for its 80% subscription in Bukit Jalil Sentral Property Sdn Bhd, which is the special purpose joint venture company undertaking the development of Bukit Jalil Sentral. To be developed over the course of 20 years, Bukit Jalil Sentral, a 76.14 acre mixed development project, has a gross development value of RM21 billion.

(The Edge Financial & The Star, 20/12/2018)


MELAKA DEVELOPER TO LAUNCH TOD IN CHERAS

Melaka-based property developer, Parkland Group is planning to launch its first Klang Valley project in January 2019. The serviced apartment project situated on a 2.36 acre freehold site in Cheras Batu 11 (11th Mile) will be connected to the Batu 11 Cheras Mass Rapid Transit Station via a 15m link bridge. Dubbed “Parkland Residence @ Cheras South”, the project has a gross development value of RM300 million and will feature a 39-storey, L-shaped building. It will house 714 serviced apartments and a 9-storey car park podium. With an indicative selling price of RM520 per sq. ft., there are three layouts: the 875 sq. ft. 3-bedroom and 2-bathroom unit; the 704 sq. ft. 2-bedroom and 2-bathroomunit and the 550 sq. ft. 1-bedroom and 1-bathroom unit.

(The Edge Financial, 21/12/2018)


MAHB EXPECTS TO BRING IN RM1 BILLION WITHIN 5 YEARS

Malaysia Airports Holding Bhd (MAHB) expects to achieve RM1 billion worth of investments within the next five years following its RM150 million initial investment in its air cargo and logistics component and its aerospace and aviation business. In 2019, MAHB will continue developing the Digital Free Trade Zone (DFTZ) and master planning the Subang Airport Regeneration, which will include the development of Subang Aerotech Park as part of the overall KLIA Aeropolis masterplan. Spanning in excess of 24,711 acres, the KLIA Aeropolis (to be completed in 2050) is envisioned as “a state-of-the-art aviation hub surrounded by customised transportation links, differentiated commercial offerings and corporate suburbs connecting workers to the global marketplace”.

(NST, The Edge Financial & The Star, 21/12/2018)


ACCESSIBLE TOURISM MULLED FOR 2020-2050 NATIONAL POLICY

The Ministry of Tourism, Arts and Culture is in the process of drafting the National Tourism Policy 2020-2050, which will include accessible tourism. The policy will provide a clear set of strategic directions and will aim to strengthen Malaysia’s position as a global tourism destination.

(The Edge Financial & NST, 20/12/2018)


GENTING MALAYSIA: OUTDOOR THEME PARK OPENING DEPENDS ON OPTIONS

According to Genting Malaysia Bhd, the outdoor theme park remains a part of its growth plan, and the opening date is dependent on the various options pursued by the company.

(The Edge Financial & The Sun, 21/12/2018)


CRESCENDO ACQUIRES LAND IN JOHOR FOR RM13 MILLION

Crescendo Corp Bhd is acquiring a piece of land in Johor Bahru for RM13 million from Panoramic Housing Development Sdn Bhd to develop apartments to be rented by Crescendo International College students. Crescendo’s wholly-owned unit, Crescendo Education Sdn Bhd, owns a 55% stake in Crescendo International College.

(The Edge Property, 19/12/2018)


RM3.8 BILLION WORTH OF UNSOLD PROPERTIES IN JOHOR

The Johor state has 5,988 unsold properties worth RM3.8 billion. The type of unsold properties include serviced apartments and many properties are valued between RM500,000 and RM1 million.

(The Edge Property, 19/12/2018)


YFGE’S PENANG CONTRACT TERMINATED

YFG Engineering Sdn Bhd (YFGE) has received a notice of termination from Sungguh Gemilang Development Sdn Bhd for RM30 million in contract works at a residential project of 112 units within a 14-storey apartment building and eight three-storey terraced houses in Butterworth.

(NST & The Edge Financial, 21/12/2018)


RICS

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