+603-21612522        

NOVEMBER IPI HIGHER BY 2.5%

Malaysia’s manufacturing and electricity sectors recorded higher output in November 2018, raising the country’s Industrial Production Index (IPI) by 2.5% year-on-year (y-o-y). However, it was lower than the 4.2% y-o-y growth recorded in October 2018. According to the Statistics Department, the manufacturing sector output expanded by 3.6% in November 2018 after registering a growth of 5.4% a month earlier. The major sub-sectors which contributed to the growth in November 2018 were transport equipment and other manufactures products (8.3%), electrical and electronic equipment products (5.3%) and petroleum, chemical, rubber and plastic products (3.4%) and the electricity sector index increased by 3.2% from a year ago.

(The Star & NST, 12/01/2019)


VANKE’S DEVELOPMENT NEAR BUKIT NANAS STILL AT PLANNING STAGE

The planned integrated development on a 7.4 acre plot of land near Bukit Nanas by Shenzhen-based Vanke Holdings (Malaysia) Sdn Bhd is still at the planning stage and the company is engaging the forestry department the protection of the Bukit Nanas Forest Reserve. It was reported in 2018 that Vanke’s development would be situated close to the Bukit Nanas heritage zone and forest reserve, which sparked concerns from the National Heritage Department. Vanke Co Ltd, one of the biggest residential real estate developers in China, had purchased the land from Malola Garden City for RM500 million with nothing concrete on the development as there was no planning approval from the relevant authorities.

(NST, 12/01/2019)


 

“URBAN FARMING” AT ELMINA WEST

Sime Darby Property Bhd has launched the Elmina Community Edible Gardens at the 5,000 acre City of Elmina, the first township in Malaysia dedicated to wellness. The gardens are a new initiative by Sime Darby Property with the support of Shah Alam City Council and the community to provide residents with the space to grow vegetables and herbs, while nurturing healthy relationships within the community. The Community Edible Gardens has over 100 plots at the Elmina Central Park in Elmina West. Sime Darby Property hopes to increase the allotments and will be introducing similar initiatives across other development phases in the City of Elmina, subject to suitability of the area and the response from the residents.

(NST, 13/01/2019)


 

FROZEN ARTISANS TO OPEN FIVE MORE BRANCHES IN 2019

Homegrown ice-cream brand Frozen Artisans Sdn Bhd plans to open five more outlets in the Klang Valley in 2019. The additional outlets will cost around RM200,000 to RM500,000 each following a positive market response to its first outlet which opened in July 2018.

(NST & The Edge, 12/01/2019)


 

CHIN WELL’S SHAH ALAM WAREHOUSE TO START OPERATIONS IN 2019

Chin Well Holdings Bhd is diversifying into the warehousing business as the company makes plans to complete its new RM12 million automated warehouse in Shah Alam for operations to start in 2019. The warehouse, with a built-up area of 25,479 sq. ft. and 12,920 sq. ft. of storage area, will generate long-term recurring rental income for the group.

(The Star, 14/01/2019)


 

W HOTEL ON JALAN AMPANG STILL FOR SALE FOR RM360 MILLION

W Hotel remains on the list with other hotels for sale in Kuala Lumpur, with owner Tropicana Corp Bhd asking RM360 million for it. This translates to RM2.4 million a room, which is considered to be “a bit high” The hotel started accepting guests in 2H18 and sources said the price the owner is seeking may be acceptable to foreign investors, especially those from China. Located on the site of the former Bok House restaurant / Le Coq D’Orr, W Hotel is less than 400 metres from the Twin Towers, one of Kuala Lumpur’s most popular tourist destination. The hotel with 150 rooms is located from level eight to 24, while 353 units of residences lie on level 25 to level 52 and the 55-storey building has four basement levels for parking.

(The Star, 14/01/2019)


 

JOHOR TO HAVE FIRST PAPER THEME PARK IN SOUTH-EAST ASIA

Linbaq Holding Sdn Bhd is committed to developing its three main projects in Iskandar Malaysia with a total gross development value (GDV) of RM3.4 billion. The three projects are located at Century Garden, Ulu Tiram and Senai. The Group’s first project will start in Century Garden involving the redevelopment of an old hotel on a 2.37 acre site. This will be a mixed development involving a serviced apartment, hotel and retail space with a total GDV of RM800 million. Linbaq will be collaborating with Taiwan Carton King to develop the very first paper theme park in South-East Asia, with a total investment value of RM10 million. It has created a famous “theme park” in Taiwan, which features animals, architecture, furniture and souvenirs made entirely from recycled paper. Linbaq will also be partnering with AccorHotels to manage its Novotel project. AccorHotels is a leading travel and lifestyle group with more than 4,500 hotels, resorts and residences around the world.

(The Star, 14/01/2019)


 

PENANG PORT LINES UP PROJECTS

Penang Port Sdn Bhd (PPSB) is gearing up for “a better year ahead” with several expansion projects for both its Swettenham Pier Cruise Terminal (SPCT) and the North Butterworth Container Terminal (NBCT), in 2019, will see 24 new cruise ships making their debuts across the world and PPSB is wooing these ships to stop in Penang. Among the expansion work is the RM155 million extension of the berth and the pier building which is set to commence in 1Q19 and complete within 12 months. Once completed, it will see the present 400m berth extended by 220m with an additional 118m-long “mooring dolphin”. On the NBCT, another RM155 million was invested on acquisition of new equipment, which will add another 300,000 TEUs (Twenty Foot Equivalent Unit) to the present 1.6 million TEUs as part of the overall RM500 million expansion plan.

(The Star, 12/01/2019)


 

SELANGOR EYES RM7.5 BILLION WORTH OF INVESTMENTS IN 2019

The state of Selangor is expected to secure RM7.5 billion worth of approved investments in 2019. As at September 2018, approved investments into Selangor stood at RM8.2 billion, which exceeded the RM7 billion expectation for 2018. Investment was predominantly driven by the manufacturing, food and beverage, and electric and electronic sectors.

(The Star, 15/01/2019)


WORLD BANK: MALAYSIA’S ECONOMIC FUNDAMENTALS “REMAIN STRONG”

According to The World Bank, Malaysia’s economic fundamentals remain sturdy due to its diversified economy, despite Nomura Global Markets Research’s recent downgrade of the Malaysian equity market. Malaysia’s diversified income stream involving electrical and electronic manufacturing, commodities, external and domestic demand, natural resources and agriculture, are expected to further strengthen Malaysia’s economy and The World Bank has projected the Malaysian economy to grow at 4.7% in 2019.

(The Star & The Edge, 16/01/2019)


 

KUWAIT’S KFH PLANS ASSET SALES IN 2019, INCLUDING THOSE IN MALAYSIA

In 2019, Kuwait Finance House plans to sell assets globally in the range of 100 million dinars to 120 million dinars (RM1.3 billion to RM1.6 billion). The sale will include the headquarters of its unit in Malaysia and its stake in Kuwait Energy.

(The Star, 15/01/2019)


SUNWAY’S PROPERTY DIVISION TARGETS RM1.3 BILLION SALES FOR FY19

Sunway Bhd, which has lined up several property launches in 2019, is targeting new sales of RM1.3 billion for its property division for the financial year 2019 (FY19). The new launches are expected to have a combined gross development value (GDV) of RM2 billion. In the central region, projects slated for launch in 2019 are Sunway Velocity TWO Phase 2 (GDV RM300 million), Sunway Avila (GDV RM230 million) and Sunway GEO Lake Residences (GDV RM100 million). In Ipoh, Sunway Onsen Suites (GDV RM120 million) will be launched, whereas in the southern region, Sunway will roll out Sunway Citrine Lakehomes Phase 3 in Iskandar, Johor (GDV RM100 million), Sunway Lenang Heights (GDV RM150 million) in Johor and the Brookvale, Clementi in Singapore (GDV RM1 billion).

(The Star, 15/01/2019)


 

TH COMPLETES DISPOSAL OF TRX LAND AT “A PREMIUM”

Lembaga Tabung Haji (TH) has sold its Tun Razak Exchange (TRX) land back to the government at a premium. The TRX land was included in the 28 properties and land that TH had transferred to special purpose vehicle, Urusharat Jamaah Sdn Bhd, which is owned by the government. Of the 28 properties and land, 18 have zero income and mainly comprise vacant land. The 1.6 acre TRX land was acquired by TH in 2015 from debt-ridden 1Malaysia Development Bhd (1MDB) for RM188.5 million.

 (NST, 16/01/2019)


RM200 MILLION ALLOCATED TO BUILD, REPAIR 8,889 PPRT HOUSES

The rural development ministry will build and repair 8,889 houses in 2019 under the Hardcore Poor Housing Programme (PPRT) with a RM200 million allocation. The rural development ministry denoted that 44,430 individuals would benefit from the programme, which comprises the construction of 1,535 new houses and the repair of 7,354 old houses. As of December 15, 2018, 10,841 PPRT units were built and repaired thereby exceeding the 10,550 unit target that was originally set. In totality, 817 units were new houses and 10,024 units were existing ones, whereby a RM271 million allocation was provided.

 (The Edge, 15/01/2019)


 

3,733 PR1MA UNITS TO BE BUILT IN TERENGGANU

The Housing and Local Government Ministry plans to build 3,733 homes under the 1Malaysia People’s Housing Programme (PR1MA) in Terengganu. The project involves seven locations including Pulau Besar, Kuala Nerus (560 units); Wakaf Tapai, Marang (482 units); Bukit Payong, Marang (500 units); Kijal, Kemaman (856 units); Kerteh, Kemaman (462 units); Besut (523 units) and Batu Rakit, Kuala Nerus (350 units). The project will be implemented in stages for three years subsequent to issues related to land and the law being settled.

(The Edge, 15/01/2019)


 

AFFORDABLE HOUSING IN BANGSAR SOUTH IS 75% BOOKED

A Federal Territory-level affordable housing scheme by IJM Land Bhd and Amona Development Sdn Bhd has achieved “a booking rate of 75%” at its launch on January 15, 2019. The Rumawip project is named Suria Pantai and comprises 896 units housed within a 34-storey block. Each unit is 810 sq. ft., comes with one covered parking bay and is priced at RM275,000. Suria Pantai is at an approximate distance of 3km to Mid Valley and 5km to KL Sentral. It is also accessible via the New Pantai Expressway’s Pantai Sentral interchange. Single individuals with a monthly income of less than RM10,000 or a combined household income of less than RM15,000 are eligible to apply for a unit. Construction works have started and are slated for completion in 2022.

(The Edge & Starproperty.com.my, 16/01/2019)


 

HCK TAKES OVER EMPIRE REMIX 2 PROJECT, TO BE REBRANDED AS “EDUCATION CITY”

HCK Capital Group Bhd is taking over the development of the Empire Remix 2 project in USJ 1, Subang Jaya, from Mammoth Empire Holding Sdn Bhd’s (MEH) unit, True Renaissance Development Sdn Bhd (TRDSB) and is rebranding it into an integrated education city development. Empire Remix 2 is part of an integrated commercial development along with Empire Remix, which would have a combined gross development value of RM1 billion. Empire Remix 2 comprises one 12-storey tower (A), three 28-storey towers (B, C and D) and four basement floors. HCK, via its indirectly wholly-owned subsidiaries, had already purchased tower A and C from TRDSB in 2012. HCK’s indirect wholly-owned subsidiary, HCK Builders Sdn Bhd, had entered into a joint venture agreement (JVA) with landowner Projek Muara Sdn Bhd and its unit, Dergahayu Sdn Bhd, which will enable HCK to continue and complete the development.

(The Edge, 16/01/2019)


TROPICANA NOT SELLING W HOTEL

Tropicana Corp Bhd has stated that the W Hotel in Kuala Lumpur is not available for sale. W Kuala Lumpur, which opened in August 2018, has demonstrated strong occupancy rates, which have contributed positively to the group’s property investment portfolio in 2018. For 2019, W Kuala Lumpur is expected to continue on a growth trend, bolstered by “the uplift of arrivals from international visitors” and as a venue for both local and international key events. The group issued the statement in response to an article that suggested that the company is selling the hotel.

(The Star, 15/01/2019)


 

PROPERTY PRICES LIKELY TO CONTINUE DOWNTREND

Property prices in the country are likely to continue their downtrend for at least the 1H19, despite improving consumer sentiment and proactive government policies announced in Budget 2019. While there has been a dip in asking prices, demand for properties in Kuala Lumpur is still generally strong with the most popular areas being Bangsar, Mont Kiara and Cheras. High-rise properties are the most preferred property type in Kuala Lumpur due to the more affordable entry price point. Demand for properties in Selangor continues to be high despite declining prices, with properties in Petaling Jaya, Shah Alam, and Subang Jaya topping the list in this order.

(The Sun, 15/01/2019)


 

IRDA TARGETS RM30 BILLION NEW INVESTMENTS FOR ISKANDAR MALAYSIA

The Iskandar Regional Development Authority is targeting to attract RM30 billion in new investments into Iskandar Malaysia in 2019. The target could be achieved as the development authority managed to record RM32.23 billion in investments in 2018. The cooperation will ensure that investments originate from desirable sectors such as tourism, logistics, health, the creative industry, finance and education.

(The Edge, The Sun, NST & The Star, 16/01/2019)


 

TSR UNIT WINS SUBCONTRACT JOB FOR GEMAS-JOHOR BARU DOUBLE TRACK PROJECT

TSR Capital Bhd has received a RM307 million subcontract job for the Gemas-Johor Baru electrified double-tracking project from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd. TSR’s subsidiary. Works, including site clearance and embankment earthworks in certain sections, are expected to commence in January 2018 and completed by March 2020. The Gemas-Johor Baru double-tracking project involves the construction of 197km of double tracks, stations, electric trains, depots, land viaducts, bridges, and electrification and signalling systems. The Gemas-Johor Baru rail double-tracking project is reported to cost RM12.4 billion and is expected to be completed in April 2021.

(The Star, NST, The Sun & The Edge, 15/01/2019)


 

JB-SINGAPORE RTS LINK MAY BE DELAYED UNTIL 2024

The Johor Bahru-Singapore Rapid Transit System Link (RTS Link) project is behind schedule and not progressing well, according to the Singapore Minister for Transport. Based on the Bilateral Agreement, the joint-venture company (JVC) comprising Singapore’s SMRT and Malaysia’s Prasarana Malaysia Bhd should have been constituted by June 30, 2018, and the JVC should have been appointed as the RTS Link operator (OpCo) via a Concession Agreement (CA) with Singapore’s Land Transport Authority (LTA) and the Malaysian government by September 30, 2018. However, these milestones have been missed. Over the past few months, Malaysia has indicated that it was considering replacing its JV partner, but has delayed in confirming the matter. The commencement date of RTS Link services will now likely be deferred beyond the original target of December 31, 2024.

(The Edge & NST, 16/01/2019)


 

SEA LIFE MALAYSIA TO BE LAUNCHED BY 1H19

SEA LIFE Malaysia at Legoland Malaysia Resort has completed 95% of its construction and is currently on track to launch the interactive aquarium by1H19. The construction has reached a milestone with the filling of the Ocean tank (the largest tank in the aquarium) which contains 400,000 gallons of water. The Ocean tank will house a replica of an historic shipwreck, Wanli, and will be themed to appear as though visitors are walking through the shipwreck with Lego elements spread out for display. Upon completion, the two-storey interactive aquarium measuring 23,000 sq. ft. will house more than 25 display tanks with 11 habitat zones.

(The Edge, 15/01/2019)


AIRPORT EXPANSION NEEDED TO CATER FOR INCREASING PASSENGER TRAFFIC

With a significant increase in passenger traffic at the Penang International Airport, the state government is urging the federal government to look into the airport’s expansion. The Malaysian Chief Minister expressed that the number of passenger arrivals reached 7.78 million in 2018, which is a 7.59% increase compared with 7.23 million in 2017. Since the airport is built to handle a maximum of 6.5 million travellers, this largely surpasses the airport’s capacity. The number of international passenger arrivals also increased from 1.54 million in 2017 to 1.78 million in 2018.

(The Star, 15/01/2019)


MAKING PENANG A KEY LOGISTICS HUB

Fedex Express (FedEx), a subsidiary of FedEx Corp, has invested RM17.6 million in its Penang Gateway facility at MAB New Cargo Complex at the Penang International Airport. Touted as the largest integrated logistics facility of its kind in Penang, the integrated warehouse and sorting facility for both FedEx and TNT operations in the region serves as a major hub in the northern states and is a key gateway for FedEx Asian and Trans-Asian flights. The warehouse, measuring 51,990 sq. ft. is also the first facility of its kind in Malaysia to feature X-ray scanning for all outbound packages. With the inclusion of Penang, FedEx now has 12 stations across Malaysia in Negri Sembilan, Perak, Kuantan, Johor, Sabah, Sarawak and Kuala Lumpur. FedEx plans to launch two additional stations, with one situated in Batu Kawan, Penang, and the other in Johor, in order to further bolster its logistics network.

 (The Star, 16/01/2019)


   

STATE LOW-COST HOUSING INITIATIVES LAUNCHED IN SARAWAK

The Sarawak state government has launched its own low-cost housing development initiative, previously under the jurisdiction of the Federal Government. The state government includes initiatives such as building low-cost houses costing RM90,000 to RM150,000 each. The affordable homes will be built by the Federal Government under the national housing policy and will start pilot projects in 2019 in five locations including Kuching (two projects), Miri, Sibu and Bintulu. In 2019, the ministry targets to build at least 2,000 units, individuals eligible for the units are those earning a household income of RM800 to RM2,500 per month.

(The Edge, 16/01/2019)


NEW LRT3 CONTRACT TO BE SIGNED SOON

A new contract for the light rail transit 3 (LRT3) project is expected to be sealed prior to Chinese New Year. According to the project’s main contractor, MRCB-George Kent Sdn Bhd (MRCBGK), unpaid contractors are also slated to receive their outstanding payments by the end of January 2019. The agreement, to be restructured from a project-delivery-partner (PDP) model to a “fixed-price contract”, was meant to be executed by December 12, 2018. The signing was extended to this month since December 2018 was a festive season and “many employees were unavailable”. Works on the LRT3, which runs from Bandar Utama to Klang, slowed down in October 2018, pending the signing of the new contract following a review by the Pakatan Harapan government.

(The Star, 18/01/2019)


 

COMPANY THAT CONSTRUCTED BUILDING ON GOVERNMENT LAND AT MEDAN IMBI ASKED TO EXPLAIN

According to the Federal Territories Minister, the company that constructed a building on two lots of land belonging to the government at Medan Imbi, Bukit Bintang, has been given until January 31, 2019, to come forward and provide an explanation. The outcome of an internal investigation by the Integrity Unit of Kuala Lumpur City Hall (DBKL) revealed that both pieces of land measuring 0.34 acres on Lot 568 belonged to the Federal Territories Land and Mines Office, whereas Lot 716 belonged to the Federal Territories Land Executive Committee under the supervision of the Chief Secretary to the Government.

(The Edge, 17/01/2019)


 

KERJAYA PROSPEK GETS RM155 MILLION CYBERJAYA JOB FROM HCK UNIT

Kerjaya Prospek Group Bhd’s wholly-owned subsidiary, Kerjaya Prospek (M) Sdn Bhd (KPMSB), secured from Aspen Entity Sdn Bhd (AESB) a RM155 million project to construct the main building for a planned property development along Persiaran Bestari in Cyberjaya, The contract covers the construction of a building which comprises two blocks of serviced suites of eleven storeys each on top of a five level car park podium, with two levels of common areas and facilities and one block of twenty-five storey serviced suites on top of a five level car park podium and two levels of common area and facilities. The proposed project is to be built on Lot PT 41466 Persiaran Bestari, Cyber 11, Cyberjaya, Mukim Dengkil, Daerah Sepang, Selangor Darul Ehsan. The contract will commence on March 1, 2019 and is due for completion within 24 months from the commencement date.

(The Edge, 17/01/2019)


 

“TOWER H IS TENANTED”, SAYS MAMMOTH EMPIRE

In response to recent reports of the hazardous conditions in Tower H at Empire City Damansara by Mammoth Empire Holdings Sdn Bhd (MEH), the allegations were deemed to be “baseless”. The 20-storey tenanted tower within the integrated lifestyle commercial development reportedly posed a safety hazard despite having a Certificate of Fitness. Grab however has taken up four floors and MEH (occupies four floors) has been operating in the building since 2017. Empire City Damansara is the flagship and largest mixed development by MEH in Damansara Perdana, Petaling Jaya.

(The Edge, 17/01/2019)


PAVILION REIT WON’T BUY STAKE IN PAVILION BUKIT JALIL

Pavilion Real Estate Investment Trust (REIT) has decided not to participate in the ownership of the Pavilion Bukit Jalil mall, which is being developed by Malton Bhd. Pavilion REIT, via its trustee MTrustee Bhd, had informed Malton’s wholly-owned subsidiary, Pioneer Haven Sdn Bhd, of its decision not to participate in the ownership of the on-going development. Pioneer Haven had on August 8, 2018, formally invited Pavilion REIT to participate in the ownership. This was followed by a due diligence process and discussions between the two parties regarding the method of participation and negotiations on relevant terms and conditions. The Pavilion Bukit Jalil mall comprises one block with five levels of retail space and two levels of basement parking. It is scheduled to open in 3Q20 and will have a net lettable area of 1.8 million sq ft. The Pavilion Bukit Jalil mall is part of the Bukit Jalil City project, with a gross development value of RM4 billion, which is being undertaken by Pioneer Haven.

(The Edge, 18/01/2019)


 

BERJAYA LAND SIGNS DEAL TO DEVELOP US$1B FOUR SEASONS RESORT IN JAPAN

Berjaya Land Bhd (BLand) has signed a partnership with Four Seasons Hotels and Resorts to develop the Four Seasons Resort and Private Residences Okinawa in Japan, with a gross development value of US$1 billion (RM4.11 billion). BLand’s unit, Berjaya Okinawa Development Co Ltd, had inked the deal, which would take four years to complete, with a projected total development cost of US$400 million. The master plan development site covers approximately 100 acres of beach front land owned by Bland. circa which is 50 kilometres northeast of Naha International Airport.

(The Edge, 17/01/2019)


 

SINMAH CAPITAL TO RAISE RM500 MILLION FOR HEALTHCARE VENTURE

Former poultry producer, Sinmah Capital Bhd, has earmarked RM100 million in capital expenditures for the construction of a hospital in Nilai as its maiden venture into healthcare. Via 70%-owned unit Sinmah Amegajaya Healthcare Sdn Bhd (SAH), the company signed a deal to acquire a property in Nilai for RM27 million and plans to redevelop it into Malaysia’s first full-service ‘Integrated Public-Private University Hospital’ (IPPUH). Financed by internally-generated funds and bank borrowings, construction will be completed 28 months from March 2019. The company aims to build a minimum of 20 to 25 IPPUHs over the next decade in several states including Negeri Sembilan, Malacca, Selangor, Perak and Kedah. Sinmah Capital is looking to develop a hospital in Cheng, Malacca, within the next few months and establishing a nursing school next to the hospital.

(The Edge, 18/01/2019)


 

DEVELOPER OF FOREST CITY HAS YET TO RETURN WITH PLAN ON AFFORDABLE HOUSING, SAYS KPKT

The Housing and Local Government Ministry has revealed that the developer of the Forest City mega project in Johor “has yet to return with a plan” to provide affordable homes within the residential development. It was reported in 2018 that KPKT was still waiting for the developer of Forest City to brief the Housing and Local Government Ministry regarding their affordable housing plans that will purportedly cater to the needs and tastes of locals.  In October 2018, the ministry expressed that it will be unjust to locals if Forest City merely catered towards foreigners.

If local elements were to be injected into the project, it will not only benefit foreigners but will also increase local participation. The 3,459 acre Forest City project in Johor is being developed by Country Garden Pacificview, a joint-venture between Guangdong-based Country Garden Holdings and Esplanade Danga 88 Sdn Bhd.

(The Edge & NST,18/01/2019)


 

TRANSIT-ORIENTED PLAN FOR KEMPAS

Railway Assets Corp (RAC) has identified 9 parcels of railway land for transit-oriented development (TOD) and transit-supportive development (TSD), which is expected to commence within the next four years. The corporation is open to joint ventures with local developers and would accept proposals from developers and offers for the outright sale of some parcels of land. Among the biggest developments that the corporation will embark on is in Kempas, Johor, which is a suburb in Johor Baru, a huge town area on the way to Senai. RAC owns approximately 125 acres of land in Kempas and plans to develop a township that may take 20 years to be fully completed. RAC is planning to develop a project, which may be called Kempas Sentral and would function as a replica of the KL Sentral integrated transport hub. RAC is looking at a combination of the TOD and TSD concepts for this development. There are plans for landed and high-rise residential and commercial (offices, retail and hotels) components on the Kempas land, which has an estimated gross development value of approximately RM6 billion.

(NST, 17/01/2019)


CHINA FIRM KEEN TO INVEST IN SABAH AGRO-TOURISM SECTOR

The Deputy Chief Minister of Sabah has welcomed a China-based company’s interest in developing and investing in the agro-tourism sector in Sabah. Agro-tourism (or farm tourism) is a concept of tourism that is rapidly gaining popularity in Malaysia as it offers tourists with a variety of activities relating to the agriculture sector. The potential Chinese investors from Silk Road International have expressed the company’s intention to explore opportunities given the importance of agriculture in the Malaysian economy.

(The Star, 18/01/2019)


86 UNITS OF AFFORDABLE HOUSES IN KEMUYANG IN 2019

The first 86 out of 813 houses under Sarawak’s Rumah Pertiwiku affordable housing project in Kemuyang will be ready for occupation by 1Q20. Built based on the industrialised building system, each of the houses cost between RM90,000 and RM150,000 and only takes 21 days to complete.

 (The Edge, 17/01/2019)


 

NEW SHOWROOM OFFERS PLENTY OF FURNITURE CHOICES

Rozel has opened its latest three-storey showroom in Jalan Tun Jugah. Offering the ultimate in luxurious genuine leather and premium solid wood furniture, the new showroom has a built-up area of 20,000 sq. ft. and has been relocated from its previous showroom at the Travillion Mall. Rozel, which began operations 28 years ago, now has 16 furniture galleries across Malaysia.

(The Star, 17/01/2019)


RICS

All rights reserved (C) 2016

Jones Lang Wootton