+603-21612522        
+603-21612522      

FEDERAL GOVERNMENT, KELANTAN TO WORK ON AFFORDABLE HOUSING AND SOLID WASTE DISPOSAL

The Federal Government, via the Ministry of Housing and Local Government, will work with the Kelantan State Government to build affordable housing projects and manage the solid waste disposal system within the state. Regarding the issue of abandoned houses, there are 12 abandoned housing projects across the state, all of which are constructed by the private sector. The ministry will assist in “resurrecting” the projects, some of which have been abandoned for over 30 years. Furthermore, Kelantan’s State Government will propose for the ministry to utilise land in Pasir Mas and Tumpat for affordable housing projects.

(The Edge Property, 21/01/2019)


ALL STATE GOVERNMENTS ASKED TO SUBMIT LIST OF LAND FOR PPR UNITS

The Ministry of Housing and Local Government has requested for each state government to submit suitable land sites for the development of the People’s Housing Programme (PPR) project, in order to ensure that the Federal government’s policy to develop more affordable housing for the less fortunate, is achieved. The ministry had previously issued a policy to request the state governments to offer land at suitable locations, especially in urban areas with complete infrastructure facilities.

(The Edge Property, 21/01/2019)


BANGSAR SOUTH IS PART OF “KAMPUNG KERINCHI”

The Malaysian Government has now clarified that Bangsar South, Pantai Hillpark, Taman Bukit Angkasa, Light Rail Transit (LRT) Universiti, KL Gateway Mall, Angkasapuri, PPR Kampung Kerinchi, Vista Angkasa and many others, are all geographically within “Kampung Kerinchi”. The government has revealed that some of the plans set to be implemented for “Kampung Kerinchi” are as follows:

  1. Construction of three arches or sculptures to mark the entrance into Kg Kerinchi;
  2. Carrying out a potential review to execute road works involving certain rerouting schemes, road-widening works and the construction of multi-storey carparks;
  3. Expediting the completion of the new building for SMK Seri Pantai in Jalan Kerinchi, which was delayed by 3 years, and working towards building two new schools to cater to population increases expected within the next 10 to 20 years;
  4. Building a new Klinik Kesihatan (Jenis 2) in Kg Kerinchi/Pantai Dalam to replace the Klinik Kesihatan in LRT Kerinchi, which shut down around 2012;
  5. Introducing a free GoKL bus service for Malaysian citizens in Kampung Kerinchi and Pantai Dalam;
  6. Building a new People’s Housing Programme (PPR) in Kg Kerinchi/Pantai Dalam;
  7. Working with various cultural organisations to hold the first “Ini Kerinchi Lah!” arts & culture festival in 2019/2020;
  8. Increasing the number of free English reading classes;
  9. Holding additional free health clinics throughout Kg Kerinchi & Taman Seri Sentosa (south of Old Klang Road, which is still under Lembah Pantai);
  10. Creating a Kebun-Kebun Kerinchi and a Kebun-Kebun Sentosa based on the Kebun-Kebun Bangsar model.

(The Edge Property, 21/01/2019)


ORANG ASLI LAND RIGHTS: PUTRAJAYA SUES KELANTAN GOVERNMENT

Putrajaya is suing the Kelantan State Government for violating land rights of the Temiar Orang Asli community in Gua Musang, Kelantan. In Kelantan, no ancestral land exists for the Orang Asli community, as there has never been a provision in Kelantan’s land laws, which has never been gazetted. The state government has however gazetted the Orang Asli’s ‘kawasan rayau’ (foraging land) where they can carry put agricultural related activities i.e. farming and rearing animals etc but logging in these areas will not be permitted.

(The Edge Property, 21/01/2019)


AIRASIA MAY LAUNCH MELAKA OPERATIONS

Low-cost airline, AirAsia Bhd is expected to commence operations at the Melaka International Airport (LTAM) in Batu Berendam, Melaka, with the launch of at least one domestic or international route in 2019. Among the potential routes include Melaka-Langkawi and Melaka-Bandar Seri Begawan. These will be in addition to the existing Melaka-Penang and Melaka-Pekan Baru routes operated by Malindo Air.

(NST, 19/01/2019)


MALAYSIA AIRLINES REINSTATES KOCHI ROUTE

Malaysia Airlines has announced its return to Kochi in Kerala, India, with its inaugural flight on March 31, 2019. The airline will be flying daily from Kuala Lumpur at 10.40 pm and will arrive in Kochi at 12.01 am the following day. The return flight will depart Kochi at 1 am and will arrive in Kuala Lumpur at 7.50 am the same day.

(The Star, 19/01/2019)


MAHB TARGETS 100 MILLION PASSENGERS

By the end of 2019, Malaysia Airports Holdings Bhd (MAHB) expects to handle circa 100 million passengers across its airports nationwide. MAHB was also on track to meet its targeted “Earnings Before Interest, Tax, Depreciation, and Amortisation” (EBITDA) despite handling merely 99.03 million passengers locally in 2018. Based on prevailing economic conditions and airlines’ capacity, Malaysia’s passenger traffic is expected to grow at a rate of 4.9%, with international and domestic passenger traffic growing at 2.4% and 7.6%, respectively.

(NST, 21/01/2019)


MADE-IN-MALAYSIA LITHIUM BATTERIES

Malaysia will become the first country in Asean to produce lithium ion batteries, with production set to commence within the next 18 months. The party involved in the production of battery-prototypes is looking at possible production sites in Negri Sembilan or Selangor, with a decision to be finalised in 1H19.

(NST, 19/01/2019)


240 VACANT FELDA SG KOYAN SECOND GENERATION HOUSES

240 units of the Felda Second Generation Housing project at Gugusan Felda Sungai Koyan 1, 2 and 3, have yet to receive a Certificate of Completion and Compliance (CCC) since completion two years ago and are currently vacant. This is due to hazardous soil movement rendering one of the housing projects, which deems the overall project as being unfit for physical occupation.

(The Edge Property, 21/01/2019)


“SIGNIFICANT RESPONSE” TO RUMAH SELANGORKU’S PHASE 1 SALE

To be constructed by MK Land Holdings Bhd, Phase 1 (sub-phase 1A) of the ‘Rumah Selangorku’ project in Taman Bunga Raya, Bukit Beruntung, has already been fully booked prior to its official launch. Priced at RM250,000 per unit, there are 109 units of type D double storey terraced houses in sub-phase 1A, and 101 units of type D houses in sub-phase 1C. Sub-phase 1A is slated for completion in January 2021. “Competitive pricing, attractive designs, strategic location and ample facilities are among the reasons for attracting demand.”

(The Edge Property, 21/01/2019)


CALL TO GRANT VISA-FREE TRAVEL TO CHINESE, INDIAN TOURISTS

The Malaysian Association of Tour and Travel Agents (MATTA) has urged the Malaysian Government to grant visa-free travel for Chinese and Indian tourists visiting Malaysia. This was supported by the fact that Thailand and Indonesia have implemented various visa-free policies in order to entice foreign arrivals. Indonesia, for example, grants visa-free travel to citizens of 169 countries including China and India to its country and the visa-free policy is claimed to have helped boost the number of tourist arrivals by about 20% every year since 2014. In order to boost tourist arrivals, it is hoped that the Malaysian Government will work towards granting visa-free travel, rather than extending the visa exemption policy.

(The Star, 19/01/2019)


PROFITS DOWN BECAUSE OF ILLEGAL HOMESTAYS

The presence of illegal homestays in the Cameron Highlands has caused concern, not only among those in the hotel industry, but also for legal homestays registered with the Tourism, Arts and Culture Ministry. Since the completion of a low cost housing project in Cameron Highlands, some units have been converted into illegal homestays, which have caused the earnings of the Kampung Taman Sedia Homestay Association to fall by approximately between 30% and 40%.

(NST, 20/01/2019)


SMC INCORPORATES 2 PRIVATE LIMITED FIRMS

Sunway Medical Centre Sdn Bhd (SMC) has incorporated two private limited companies known as Sunway Medical Centre Kota Baru Sdn Bhd and Sunway Medical Centre Ipoh Sdn Bhd. The principal activity of both SMC Kota Baru and SMC Ipoh is the operation of medical centres.

(NST, 19/01/2019)


CROSS-BORDER ROUTE CUTS TRAVELLING TIME

Causeway Link has launched its new cross-border route between Malaysia and Singapore via the Second Link, making it easier for commuters travelling by bus between the two countries. The route, which opened on December 31, 2018, connects the Mall of Medini in Iskandar Puteri and Tuas Link Mass Rapid Transit Station in Singapore and buses depart at a 10 to 15 minute’ interval.

(The Star, 19/01/2019)


SCOOT FLYING TO KOTA KINABALU IN DECEMBER 2019

Scoot, the low-cost carrier of the Singapore Airlines Group, will commence daily flights via the Kota Kinabalu – Singapore route in December 2019. This new route follows the carrier’s three time weekly Kota Bharu – Singapore flight services, which will commence in July 2019 upon attaining regulatory approval. Kota Bharu and Kota Kinabalu will become Scoot’s seventh and eighth destinations respectively in Malaysia, after Ipoh, Kuala Lumpur, Kuantan, Kuching, Langkawi, and Penang.

(NST, 19/01/2019)


EASTLAND EQUITY ABORTS RIGHTS ISSUE AS PROPOSED DEVELOPMENT PROJECT FACES HICCUPS

Eastland Equity Bhd has aborted its proposed “rights issue” in order to raise funds to pay for part of its RM23.27 million land acquisition in Sabah. Previously in November 2017, Eastland’s wholly-owned unit, FBO Land (Setapak) Sdn Bhd (FBO), had entered into a sales and purchase agreement with the landowner, PCK Properties Sdn Bhd to acquire 23,476 sq. ft. of land.

(The Edge Property, 21/01/2019)


ESSCOM NEEDS PLOT OF LAND TO BUILD HQ IN LAHAD DATU

The Eastern Sabah Security Command (ESSCom) current office building is on a rental basis and it is seeking assistance from the Sabah State Government to provide a plot of land for the construction of a freehold, permanent headquarters in Lahad Datu.

(The Edge Property, 21/01/2019)


MALAYSIA IS STRONGLY COMMITTED TO ATTRACTING FDI FROM CHINA

Malaysia is “strongly committed to attracting high quality and sustainable foreign direct investments (FDI) from Chinese companies”, as they continue to demonstrate confidence in the Malaysian economy. In 2016 and 2017, approved manufacturing FDI from Chinese companies totalled RM4.7 billion and RM3.9 billion respectively, making China the top source country for FDI in the manufacturing sector. From January to September 2018, approved manufacturing FDI from China reached RM15.62 billion, comprising 32% of total approved manufacturing FDI. Malaysia remains a natural and strategic location for long-term investments by Chinese companies as they follow the model employed by Japanese, European and American companies and expand their global footprint via investments into South East Asia. Among countries in South East Asia, Malaysia has many natural and strategic advantages including a relatively skilled workforce, a cost-competitive environment for doing business, and access to a large pool of Chinese speaking workforce.

(The Edge Financial & The Sun, 23/01/2019)


PAHANG TO ISSUE 21 ADDITIONAL TOLS

The Pahang State Government will issue 21 additional temporary occupational licenses (TOLS) to farmers in the Cameron Highlands. These permits are in addition to the 51 already issued to vegetable farmers, flower growers and reservoir pond operators.

(NST, 22/01/2019)


PAHANG MULLS SEIZING LAND OF TARDY QUIT RENT PAYERS

The Pahang State Government is planning to confiscate the land of owners who have failed to pay quit rent for five consecutive years as these overdue quit rent payments have reached RM81 million. However, land forfeiture will not be carried out against those “proven to be incapable” of paying quit rent.

(The Edge Property, 22/01/2019)


SELANGOR TO APPROVE CONSTRUCTION PROJECTS IF APPLICATIONS ARE IN ORDER

The Selangor State Government will approve building applications for the area around the Hindu temple in Batu Caves provided that applications are correctly and fully completed. Earlier, the Sri Maha Mariamman Devasthanam temple chairman had urged the state government and the Selayang City Council to resolve some of the temple’s infrastructure development issues. The temple’s committee has been contemplating building several facilities, including a multi-purpose hall to hold religious relayed events.

(The Edge Property, 22/01/2019)


NEW ECRL CONTRACTOR SOUGHT

The Malaysian Government is seeking a new contractor to build the RM81 billion East Coast Railway Link (ECRL) and is looking into halving the estimated project cost of RM81 billion to RM40 billion. On January 18, 2019, the government terminated the engineering, procurement, construction and commissioning contract awarded to China Communications Construction Co Ltd (CCCC) as it could not meet the requirements of lower costs and use of more local products and services.

(The Edge Financial, 23/01/2019)


ECOWORLD EXPECTS ITS “HOPE” TO RAISE RM6 BILLION IN SALES 2019

Eco World Development Group Bhd (EcoWorld) expects its “Home Ownership Programme with Eco World” (HOPE) campaign to reach a sales target of RM6 billion in 2019. Under 2019’s campaign, the developer will offer two options to house buyers. Firstly, “HELP2OWN” (H2O), which will allow buyers to purchase residential units via a mortgage plan and secondly, “STAY2OWN” (S2O), whereby EcoWorld will allow buyers, particularly first time house buyers, to rent its products and eventually own the house after one or two years. The second option will be facilitated via collaboration with Malayan Bank Bhd, under the Maybank HouzKEY scheme.

(The Edge Financial, The Star & NST, 23/01/2019)


NESTLE SKIN HEALTH OPENS OFFICE IN MALAYSIA

Nestlé Skin Health (a global leader focused on enhancing the quality of life by delivering science-based solutions for skin health) has announced the opening of a new office in Malaysia. With the company making its debut in Kuala Lumpur, consumers and healthcare professionals can now expect a broader range of innovative skin health solutions, which are developed to protect and enhance skin health.

(NST, 23/01/2019)


QATAR BODY SET TO BUY STAKE IN PAVILION BUKIT JALIL

The Qatar Investment Authority (QIA) has received principle approval from its investment committee to participate in the ownership of the “Pavilion Bukit Jalil” mall, Kuala Lumpur, which is being developed by Pioneer Haven Sdn Bhd. (Malton Bhd). This will however be subject to the completion of due diligence and execution of legal definitive agreements. Scheduled to open in 3Q20, the 1.8 million sq. ft. “Pavilion Bukit Jalil” comprises one block with five levels of retail space and two levels of basement parking. The “Pavilion Bukit Jalil” mall is part of the wider Bukit Jalil City project.

(The Edge Property, 22/01/2018; The Edge Financial & The Sun, 23/01/2019)


BRAND PICKS NILAI FOR ITS SECOND LARGEST STORE IN THE COUNTRY

Habib Malaysia has set its sights on Nilai, Negri Sembilan by opening its second largest store in Malaysia. Located at Aeon Mall Nilai, the store recreates an authentic environment to allow customers to feel the brand’s heritage and view its jewellery pieces.

(The Star, 23/01/2019)


FEWER CHINA TOURISTS COMING

Fewer tourists from China are expected to visit Malaysia during the two-week Chinese New Year holiday period in February 2019. Industry players foresee a decline of circa 10% compared with the corresponding period in 2018, which also recorded a decrease from 2017. The contraction is primarily due to the changing of travelling trends and strong competition from aggressively promoted regional destinations such as: Thailand, Indonesia, Vietnam, Cambodia and the Philippines. According to the Malaysian Tourist Guides Council, the decline was not unanticipated considering the lack of promotion and marketing due to promotion and marketing budget cuts in Budget 2019.

(The Star, 23/01/2019)


SMCAP PLANS RM500 MILLION SUKUK FOR CONSTRUCTION OF FOUR HOSPITALS

Sinmah Capital Bhd (SMCap) plans to issue RM500 million worth of sukuk (Syariah compliant bonds) to pay for the construction of four hospitals. Of the amount, RM200 million will be used to construct a hospital in Nilai, Negri Sembilan. The remaining funds will be used for the construction of three hospitals in Malacca and for capital expenditure purposes. Over the long term, SMCap plans to build between 20 and 25 hospitals for the Bottom 40 (B40) and Middle 40 (M40) household income groups. Aiming to provide affordable healthcare services, SMCap will build four hospitals under the integrated public-private university hospital concept. SMCap has signed a deal to acquire a property in Nilai for RM27 million, which will be turned into a fully integrated public-private university hospital. The 200-bed Sterling Medical Centre is set to begin construction in March 2019 and will be completed in 28 months.

(NST, 22/01/2019)


STATE NEEDS MORE RICE MILLS

Terengganu is in need of more rice mills to address issues related to oversupply of unprocessed padi yield. There are merely three rice mills situated in Bukit Kenak in Besut, Mutiara Timur in Kerandang, and Bukit Kor in Marang, which are overwhelmed by the increase in padi yield. There are two rice mills being developed in Setiu and Hulu Besut. There are 12,542 hectares of padi fields in the state, including 7,221 hectares under the management of the Northern Terengganu Integrated Agricultural Development Area.

(NST, 22/01/2019)


BINA PURI GETS RM25 MILLION CONTRACT

Bina Puri Holdings Bhd has received a RM251.53 million contract from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd for sub-contract works at the Gemas – Johor Baru electrified double-tracking project. The contract is related to civil works and is slated for completion by April 30, 2020.

(The Star, The Edge Financial, NST & The Sun, 23/01/2019)


SUIWAH PLANS TO COMPLETE SUNSHINE CENTRAL AND LAUNCH ONLINE SHOPPING IN 2021

Property developer, Suiwah Corp Bhd plans to complete the RM600 million mixed-development “Sunshine Central” in Bandar Baru Air Itam, Penang, which comprises 270 serviced residences, a hypermarket and a hotel, which are slated to be completed in 2021. Regarding the serviced residences, about a third of the units have been sold, whereby the residential units have built-up areas of between 1,300 sq. ft. and 1,900 sq. ft. It also plans to launch its online shopping platform on Shopee’s portal to tap into the South-East Asian market in 2021. Shopee could broaden Suiwah’s customer base within the region as it has a strong presence in Thailand, Taiwan, Indonesia, Vietnam, and the Philippines.

(The Star, 22/01/2019)


SARAWAK WANTS NIAH CAVES TO BE LISTED AS UNESCO WORLD HERITAGE SITE

The Sarawak State Government is applying to have the Niah Caves listed as a United Nations Educational, Scientific and Cultural Organisation (Unesco) World Heritage Site, in order to function as a catalyst for the growth of the state’s eco-tourism industry.

(The Edge Financial & The Sun, 23/01/2019)


FIRST PACKAGE OF SARAWAK HIGHWAY PROJECT COMPLETED

The Pan Borneo Highway project in Sarawak has marked a milestone with the completion of the first of the 11 work packages. The completed package stretches 32.77km from Telok Melano to Sematan in southern Sarawak. However, the new road, which took 39 months to complete, has yet to open to public traffic as the Works Ministry has yet to gazette it as a federal highway. The Telok Melano-Sematan stretch is the shortest of all the work packages and is the only package with a two-lane dual carriageway. The 10 other work packages involve a four-lane dual carriageway.

(The Star, 22/01/2019)


SARAWAK CONSIDERS STOPPING LOG EXPORTS

Sarawak, which has significantly cut log exports in recent years, is mulling to stop exporting altogether as timber resources become scarce. Sarawak will gradually reduce log exports from the current 20% of total production. The yearly reduction in timber harvesting from natural forests is in line with the government’s sustainable forest management policy. As the development of forest plantation had fallen short of target (one million hectares by 2020) the government has decided to extend the deadline by five years to 2025.

(The Star, 22/01/2019)


KEY RATE REMAINS AT 3.25%

Bank Negara Malaysia has kept the Overnight Policy Rate (OPR) at 3.25% as the economy is expected to demonstrate “steady growth” in 2019. Latest indicators point towards sustained economic expansion in the country as domestic demand remains as the key driver of growth.

(The Edge Property, 24/01/2019; The Sun & The Star, 25/01/2019)


DECEMBER 2018 CPI EDGES UP 0.2%

According to the Department of Statistics Malaysia, Malaysia’s consumer price index (CPI) rose 0.2% to 121.1 in December 2018 compared with 120.9 in December 2017, driven by higher prices for housing, water, electricity, gas and other fuels, which grew by 2%. The higher CPI was also due to higher prices for restaurants and hotels (1.3%), alcoholic beverages and tobacco (1.1%), education (1.1%) and food and non-alcoholic beverages (0.7%)

(The Edge Financial, The Sun & The Star, 25/01/2019)


LAND OWNERS WARNED OVER WASTE

Land owners have been warned that they risk losing their property if they fail to clear out all forms of plastic waste, within two to three months of receiving orders by the authorities. This was referring to land owners who rented their plots to illegal plastic recycling factories but have yet to clear the waste and allow for licensed parties to take over the materials for processing. Five illegal plastic processing factories were ordered to shut down, bringing it to a total of 104 premises served with such notices in Selangor.

(NST, 24/01/2019)


PERAK DISCUSSES WITH DEVELOPERS ON ENSURING AFFORDABLE HOUSING

The Perak State Government held discussions with developers to ensure that the costs of building affordable houses are reasonable. The government also provided suitable sites for affordable housing. The Ministry of Housing and Local Government is studying two new proposals to raise people’s capacity to buy affordable houses, particularly for the B40 group, via the “Top-up Fund” and “Build to Rent” initiatives. Through the “Top-up Fund” initiative, 10% of the housing loan can be obtained from the government at an interest rate of 2% with a loan period of 15 years, while the “Build to Rent” initiative involves building quality affordable homes, for the rental market.

(The Edge Property, 24/01/2019)


PAHANG GIVES FOREST RESERVE LAND PERMITS TO SMALLHOLDERS

The Pahang State Government has given out 22 additional forest reserve land-use permits to smallholders in the Cameron Highlands. The permits were granted to farmers who have worked the land for more than 10 years and provide security that the land will not be seized by the authorities. A total of 73 permits have now been granted to date. Each recipient was allocated a maximum of 5 acres of land but had to pay a RM3,000 fine for previous illegal use of the land and a RM1,500 fee for the permit.

(The Star, 24/01/2019)


COUNTRY VIEW’S 4Q18 NET PROFIT SURGES TO RM52 MILLION

Country View Bhd’s net profit surged over five times in 4Q18 to RM52.03 million, from RM9.54 million in 4Q17, mainly due to the conclusion of land disposals in Kedah. Country View optimistically expects its revenue and profit in 4Q19 to be mainly driven by its three-storey cluster houses, three-storey terraced houses, three-storey shop offices, the “One Sentral Serviced Residence” and affordable homes under “Rumah Mampu Milik Johor” in Iskandar Puteri. As for new projects in 2019, Country View is planning to launch 3-storey semi-detached homes in Taman Nusa Sentral.

(The Edge Property, 23/01/2019)


TROPICANA ACQUIRES 6 FIRMS FOR RM1.85 BILLION

Tropicana Corp Bhd has signed 12 sales and purchase agreements to acquire 100% stakes in GP Group, DL Group, TK Group and Acehub Fortune Sdn Bhd, 70% of Suasana Metro Sdn Bhd and 49.9% of Peluang Duta Sdn Bhd. The acquired companies own 1,116.88 acres of land in the Klang Valley and Johor. Tropicana also announced that it has signed Memorandums of Understanding to negotiate terms of the proposed collaborations with several parties to jointly develop their land. It will work with Cenang Resort Sdn Bhd to jointly develop land at Pantai Cenang in Langkawi, Sinaran Ramah Sdn Bhd for land in Pulau Rebak Kechik, Pantai Kok Resort Development Sdn Bhd for land in Pantai Kok, Langkawi, and Suci Padu Sdn Bhd and Ibarat Indah Sdn Bhd for land in Pekan Nenas, Johor.

(The Edge Financial, The Star & NST, 25/01/2019)


SUNWAY TARGETS AT LEAST RM1.3 BILLION WORTH OF SALES

Sunway Bhd is to achieve more than RM1.3 billion in property sales for the 2019 financial year. The company plans to launch RM1 billion worth of properties in central, southern and northern Malaysia. Sunway Property also launched its “Super 5” home ownership scheme to allow purchasers to pay a RM5,000 deposit for a unit and sign up to a flexi instalment plan. The company will absorb the stamp duty for the transfer of ownership for properties above RM1 million.

(The Star & NST, 25/01/2019)


PERAK TO BUILD 1,684 HOUSES UNDER AFFORDABLE HOUSING PROGRAMME

The Perak State Government has agreed to collaborate with four housing developers to build 1,684 affordable housing units under the ‘Rumah Mesra-Milik Perakku’ programme. Scheduled to be completed within two or three years, the programme involves the construction of 326 units of low-cost houses, 66 units of medium-cost houses and 1,292 units of affordable houses in in Temoh Station, Chenderiang, Batang Padang (338 units); Kampung Serdang, Manjung (447 units); Tanjung Tualang, Kampar (301 units); and Tanah Hitam, Kinta (598 units).

(The Edge Property, 23/01/2019)


10,000 AFFORDABLE HOUSING UNITS SOON

The Federal Territories Ministry plans to build 10,000 affordable housing units in Kuala Lumpur within the next three years. The affordable housing scheme called “Residensi Wilayah” will be developed with the cooperation of the private sector, whereby special incentives will be accorded such as discounts for development charges and low premiums.

(The Sun & The Star, 24/01/2019)


“STAY AND OWN” OFFER AT SIERRAMAS HEIGHTS

Terang Murni Sdn Bhd is releasing the final 20 apartment units in “Sierramas Heights” in Sungai Buloh, via a “Stay and Own” scheme. 1,259 sq. ft. units at the freehold development under the scheme are priced from RM800,000. Under the scheme, buyers are able to stay “virtually rent-free” in their units for up to five years with a deposit of RM160,000. Buyers can choose to complete the sales and purchase agreement or opt to find a new purchaser for the unit at the current market value, within three months of the fifth year anniversary.

(NST, 24/01/2019)


MITRALAND TO LAUNCH THE UPPERVILLE

By early March 2019, Mitraland Group plans to launch “The Upperville@16 Quartza Melawati”, in Taman Melawati, Selangor. Covering a 2.7 acre leasehold site, the project comprises 176 condominiums with built-ups ranging between 1,050 sq. ft. and 1,176 sq. ft., with an indicative price of RM500 per sq. ft. With an estimated gross development value of RM130 million, the project is slated for completion by 2022. The company will also be previewing the fourth and final residential tower at its flagship development “Gravit8” in Klang. Dubbed “Ashino”, the project comprises 280 units with sizes ranging between 871 sq. ft. and 1,237 sq. ft.

(The Edge Financial, 25/01/2019)


DUBUYO TO OPEN MORE OUTLETS

DubuYo (a South Korean inspired food and beverage chain) plans to invest up to RM10 million to open 10 more local outlets by the end of 2019. Although challenges remain evident in the food retail operating landscape, the company is optimistic that DubuYo will continue to grow.

(NST, 24/01/2019)


MYTOWN OCCUPANCY TO HIT “95% BY MAY 2019”

Boustead Ikano Sdn Bhd is optimistic that MyTOWN Shopping Centre’s occupancy rate will grow to 95% by May 2019, from the current 92%, despite stiff competition with other shopping centres. The company is in the midst of securing a few more tenants, while the existing ones will remain in their respective outlets until the next tenancy renewal in 2020. Sales for the mall are expected to increase between 22% and 25% in 2019, in line with higher footfall (number of individual customers walking-in) which was up 45% in 4Q18, compared with 3Q18. The mall is expecting an additional 10%-12% increase in footfall due to its link to the Cochrane Mass Rapid Transit (MRT) station and increased advertising activities.

(The Edge Property, 24/01/2019)


LBS AND SSI SIGN MOU TO DEVELOP TWO LAND PARCELS IN PERAK

LBS Bina Group Bhd, via its subsidiary Bimbingan Simfoni Sdn Bhd and Perak State Secretary Incorporated (SSI), have signed a Memorandum of Understanding (MoU) to develop 50 acres of land located in Temoh, near the Batang Padang district and 41 acres in Chepor within the Hulu Kinta district. The sites are expected to be used for mixed-use development comprising cluster terraced homes (within the affordable price segment), terraced and semi-detached homes. Construction works are scheduled to begin in 4Q19 and are slated for completion in the next three to four years.

(The Edge Property, 23/01/2019)


AXIS REIT TARGETS RM200 MILLION WPRTH OF ACQUISITIONS

Axis Real Estate Investment Trust (Axis REIT) is targeting to acquire RM200 million worth of properties in 2019. The selection of properties will continue to focus on Grade A logistics facilities and manufacturing facilities in the Klang Valley, with long leases from tenants with strong covenants, well-located warehousing in locations ideal for last-mile distribution and office, business parks and industrial properties with potential for future enhancement.

(The Edge Financial & NST, 24/01/2019)


“BIG DECLINE” IN MELAKA TOURISM

According to the Melaka Tourism Business Club (MTBC), there has been a large decline in tourist arrivals to Melaka, especially from China, but little is being done by authorities to stem this. Compared with 2017, MTBC estimated that the number of tourist arrivals to Melaka, fell by between 20% and 30% in 2018.

(The Star, 24/01/2019)


GOVERNMENT PLANS TO COLLABORATE WITH AGA KHAN TRUST FOR CULTURE TO PRESERVE HERITAGE SITES

Malaysia plans to use the archaeological conservation expertise of the Aga Khan Trust for Culture (AKTC) in efforts to preserve Lembah Bujang (a historical complex in Kedah) and a couple of other historical monuments in the country. The Malaysian Government is looking at reviving some the country’s archaeological sites, preserving heritage places and developing museums and galleries. The Mulu Caves in Borneo, Lembah Lenggong in Perak, Lembah Bujang and Kinabalu Park, are among the attractions to be promoted to foreigners.

(The Edge Property, 24/01/2019)


CAMERON HIGHLANDS TARGETS UNESCO HERITAGE SITE

The Cameron Highlands District Council is striving to get United Nations Educational, Scientific and Cultural Organisation (Unesco) recognition as a world heritage site. The Unesco recognition will boost Cameron Highlands’ image internationally and increase tourist arrivals in Cameron Highlands. The number of tourist arrivals to Cameron Highlands has been increasing yearly. In 2016 there were 1.01 million tourist arrivals, followed by 1.33 million tourist arrivals in 2017, and 1.44 million in 2018. In 2018, Singaporeans made up the biggest number of foreign tourists, followed by those from China, the Netherlands, Japan and Saudi Arabia.

(The Star, 25/01/2019)


MALAYSIA TO HAVE “E-SPORTS MODEL” BY THE END OF 2019

Malaysia will have an electronic sport (e-Sports) model which conforms to the local culture and lifestyle by the end of 2019. This will help ensure that e-Sports centres promote a healthy lifestyle such as no smoking, drinking alcohol or engaging in gambling activities. Town hall sessions are being conducted nationwide with community groups and sports players such as parents, educators, fans, players and e-Sports athletes, to gather feedback on the desired model. Sunsuria Bhd has signed a memorandum of understanding (MoU) with four individuals involved in the e-sports industry, for the setting up EXVRA, an e-Sports hub in Salak Tinggi. The MoU could be emulated by other private bodies in efforts to develop the e-Sports sector, which is strongly encouraged by the government.

(NST, 25/01/2019)


TMC LIFE ALLOCATES RM142 MILLION CAPEX

TMC Life Sciences Bhd has allocated RM142 million in capital expenditures (capex) for 2019. The company has allocated circa 70% of its capex towards the expansion of their flagship hospital, “Thomson Hospital Kota Damansara”, where they are tripling its current capacity to 600 beds by 2020. The company also started construction works on “Thompson Iskandar Medical Hub” in Johor, which includes the 500-bed Hospital Iskandariah, which is scheduled for completion by 2021. The remaining 10% of capex will be for the expansion of two of its fertility centres, the TMC Fertility Kota Damansara and TMC Fertility Puchong, which are on track to be completed by the end of 2019.

(NST, 25/01/2019)


GOVERNMENT URGED TO REGULATE “HOME-SHARING” OPERATIONS

The Malaysian Association of Hotels has urged the Malaysian Government to regulate the “home-sharing” business before it undermines the hospitality industry and property sector. The home-sharing model of today has deviated from its initial objectives of providing alternative accommodation when the traditional ones are full. Unlicensed home-sharing operations could threaten the quality of living for high-rise residents as the constant movement of guests checking in and out of neighbouring premises could be disruptive.

(The Sun, 24/01/2019)


PLANS TO BUILD SANITARY LANDFILLS

The Housing and Local Government Ministry is looking into reducing the number of solid waste disposal sites in the country by replacing them with energy efficient and environmentally friendly methods to better manage the disposal of waste materials. There are plans to build sanitary landfills that are centralised and to shut down sites which are not sanitary. There are also plans to construct solid waste treatment plants with the concept of “Waste-to-Energy” (WTE) in states that generate high amounts of solid waste such as Negri Sembilan, Kuala Lumpur, Melaka and Johor.

(The Star, 24/01/2019)


“SICK PROJECTS” STILL UNCOMPLETED

Worth more than half a billion ringgit, at least eight state-wide government projects in Johor have been delayed. One of the longest delays in the state is the new RM89.4 million Iskandar Puteri district police headquarters, which has been delayed since 2016. Other projects facing delays include the new RM18.9 million Ungku Tun Aminah government clinic and quarters, which has been delayed by 15 months and upgrading works totalling RM24 million for government quarters in Mersing. Other projects include a RM23.6 million project to build and upgrade an institute’s quarters in Mersing, a RM15.6 million project to demolish and build new offices at the Muar road transport department and RM6.6 million for a new bridge project in Kota Tinggi. At least two road upgrading projects between Bandar Penawar and the Pengerang Integrated Petroleum Complex have also been delayed by about seven months. Both projects involved road expansion works from two lanes to four lanes totalling 26.8km. Among the problems faced by contractors in these “sick projects” are problems of hiring enough workers, land acquisition, delays in the moving of utility cables and pipes and insufficient machinery.

(The Star, 24/01/2019)


SINGAPORE PROPOSES EXTENDING RA SUSPENSION

Singapore has proposed for an extension to the suspension of the Restricted Area (RA) over Pasir Gudang, Johor, and the republic’s implementation of Instrument Landing System (ILS) procedures at Seletar Airport. This is to give Malaysian and Singapore officials more time to discuss a mutually-agreeable solution to the issues.

(NST, 24/01/2019)


NOT ENOUGH INTEREST IN MFP

The Muar Furniture Park (MFP) commercial and industrial sites have not attracted many tenants due to stringent financing procedures from financial institutions. The MFP could fall short of its expected circa RM1 billion in revenue upon becoming fully operational in 2023. The park was developed on a 987 acre site in Bakri, Muarm, and is capable of housing between 180 and 220 companies. It was reported that 112 Muar-based manufacturing companies were secured in 2018 but 35 companies had received considerable government assistance worth RM70 million.

(NST, 24/01/2019)


PENANG’S LATEST “REAL ESTATE GOLDMINE”

The Jelutong landfill area is set to become Penang’s latest “real estate goldmine”, with the potential to generate at least RM1 billion to the state. Left to stabilise since 2010, with nothing but construction waste being packed into it, this 40m high solid piece of coastal land beside the Tun Dr Lim Chong Eu Expressway is ready to be rehabilitated and developed. Of the first 84 acres to be rehabilitated (99 acres in total), the Penang State Government will retain 25% (circa 25 acres). Exact sizing has not been determined as there will be minor reclamations on both sides of the coastal landfill for buffers and fortifications. Plans are afoot to turn the landfill into an “eco and futuristic township”.

(The Star, 24/01/2019)


RICS

All rights reserved (C) 2016

Jones Lang Wootton