+603-21612522        
+603-21612522      

MIER: GDP LIKELY TO GROW 4.5%

Due to the slowdown in global and domestic demand, the Malaysian Institute of Economic Research has forecasted Malaysia’s 2019 Gross Domestic Product to post moderate growth of 4.5%, compared with 4.7% in 2018.

(The Edge Property & NST, 17/04/2019)


DBKL SETS POPULATION DENSITY LIMIT FOR NEW HOUSING DEVELOPMENTS

Population density for new housing developments in the city will not exceed 1,000 people per acre. Approval for 1,000 people per acre will only be permitted for 100% based affordable housing projects. Free or open market projects can only get up to 400 people per acre. Projects with affordable housing and free market properties can get a density of up to 600 people per acre.

(The Star, 17/04/2019)


MORATORIUM PROPOSED FOR NEW MONT’KIARA, SRI HARTAMAS DEVELOPMENTS

A moratorium which has been proposed for new developments in Mont’Kiara and Sri Hartamas has been sent to the Kuala Lumpur City Hall (DBKL). The moratorium is based on complaints raised by residents regarding traffic congestion, which has been exacerbated due to unplanned development and an ineffective traffic dispersal system. To improve the situation, DBKL proposed an access road from the Malay reserve area and Sungai Penchala to the Kuala Lumpur Penchala Link and also upgrading works on Persiaran Dutamas at the NKVE junction.

(The Edge Property, 13/04/2019)


LAW TO CURB RACIST PRACTICES BY LANDLORDS

A new Bill to battle racial discrimination in the Malaysian housing market is expected to undergo its first reading in Parliament at the end of 2019. The new law will not only curb racist practices by landlords and tenants, but will also ensure that both parties get a fair deal with improved protection and no manipulation. Under this Act, the Malaysian Government can set a maximum cap of rental rates especially for low cost housing projects.

(The Edge Property, 14/04/2019)


SELANGOR WORKING OUT 100% LOAN FOR STATE HOUSING

The Selangor Housing and Urban Living Committee in discussions with a bank to work out a scheme to allow 100% loans for state housing projects. The scheme is set to ease housing loan applications, especially for the B40 group.

(The Edge Property, 16/04/2019)


MPSJ SEEKING CITY STATUS FOR SUBANG JAYA

The Subang Jaya Municipal Council (MPSJ) has fulfilled all criteria’s set by the Housing and Local Government Ministry to be granted city status and is awaiting feedback from the state government before it submits its application to the ministry. Some of the basic criteria that has to be fulfilled before the municipal council can apply for a city status is to have a population of more than 500,000 and to generate a yearly revenue of RM100 million. MPSJ is also in the process of amending the Local Draft Plan 2035, with a focus on transit-based developments.

(The Sun, 17/04/2019)


SMTRACK VENTURES INTO LOW-COST AIRLINE BUSINESS

SMTrack Bhd (a radio frequency identification (RFID) solutions provider) signed a memorandum of understanding with Dexma Express Sdn Bhd (the official general sales agent of Garuda Indonesia’s subsidiary, Citilink) for potential investment in the upcoming Citilink Malaysia operation. Dexma would change its name to Citilink Aviation Malaysia Sdn Bhd and obtain an air operator certificate and other licences or permits required. Citilink Aviation is expected to commence operations in 2Q19, providing low-cost flights especially within Asean and the first route will be between Kuala Lumpur and Phnom Penh in Cambodia.

(The Edge Financial, The Star & NST, 15/04/2019)


KAJANG – PUTRAJAYA RAIL LINK MAY BE REVIVED

Plans are afoot to revive the abandoned RM400 million Putrajaya rail link with an additional extension up to the Kajang Mass Rapid Transit (MRT) station. The rail link, which may potentially be Malaysia’s fourth Light Rail Transit (LRT) line, could be developed at a cost of circa RM2 billion. It may take circa six months to a year before the project development, to be handled by Putrajaya Corp and the Federal Territories Ministry, commences.

(The Star, 15/04/2019)


ECRL TO RESUME AT REDUCED COST

Malaysia and China have agreed to resume construction of the East Coast Rail Link (ECRL) project at a cost of RM44 billion. The revised line will be from Kota Baru to Mentakab, followed by Jelebu, Kuala Kelawang, Bangi, Kajang, Putrajaya and Port Klang. Construction will commence as soon as possible with the new date of completion being reset to 2026.

(NST & The Star, 13/04/2019)


EASING TRAFFIC CONGESTION WITH 2.5KM ROADWAY

Kuala Lumpur City Hall (DBKL) has taken an initiative to utilise the Tun Razak Exchange (TRX) external road to assist in easing current traffic conditions along Jalan Tun Razak, while facilitating effective traffic dispersal from the future TRX City, and incoming traffic from Bukit Bintang and Kampung Pandan. Set to be built by 1Q20, the 2.5 km elevated roadway is currently close to 50% completion.

(The Star, 16/04/2019)


FOCUS ON IMPROVING CURRENT RAIL SERVICES

A high-speed train project is not “really necessary” for Malaysia at the moment as it would merely connect between Singapore and Kuala Lumpur. Instead, Malaysia’s focus is to now improve the quality of existing railway services. However, Malaysia might need to build a high-speed train later on, possibly between Johor Bahru and Penang or the Thailand border.

(The Edge Financial, The Star & NST, 17/04/2019)


MAH SING, FAVE IN DIGITAL PARTNERSHIP

Mah Sing Group Bhd and digital payments platform “Fave” have sealed a partnership to allow home buyers to pay booking fees with “FavePay”, while being rewarded with AirAsia BIG Points. The collaboration will provide convenience to home buyers by allowing them to pay deposits for selected projects in Malaysia with the Fave mobile app.

(NST & The Star, 16/04/2019)


CAGAMAS, PHILIPPINE ENTITY TO EXPLORE HOME FINANCING METHODS

Cagamas Bhd, the National Mortgage Corp of Malaysia and Philippines’ National Home Mortgage Finance Corp have signed a Memorandum of Cooperation (MoC) to jointly explore housing financing methods to promote home ownership in their respective countries. The MoC enables the wealth of domestic experience in housing finance, mortgage and financial instruments to be mutually exchanged between Malaysia and the Philippines. This is expected to enhance the stability of housing and mortgage markets, mortgage backed securities and other funding instruments.

(The Sun & The Star, 16/04/2019)


GADANG SECURES RM38 MILLION JOB FROM TRX CITY

Gadang Holdings Bhd has accepted a letter of award to undertake contract works amounting to RM38.518 million, from TRX City Sdn Bhd. The project involves the construction of a multi-level bridge linking the northern and southern sites at the Tun Razak Exchange (TRX) on Jalan Sultan Ismail. The project is slated to commence on July 1, 2019, and will be completed by 3Q20.

(The Sun & The Star, 17/04/2019)


AFFORDABLE ROOMS FOR B40 YOUTHS

Single Malaysians aged between 18 and 28 from the lower-income (B40) bracket and “working within a 25km radius of the facility” have been offered lodgings via Kuala Lumpur City Hall’s (DBKL) upcoming micro-housing facilities. Located on Jalan Tuanku Abdul Rahman, the first phase is expected to be completed by the end of 2019 and will house 190 tenants, while the second phase is slated to be completed in 1Q20 and is expected to cater to 135 additional people. The partly-furnished units, which can house three to seven people, can be rented at RM100 a month per person.

(NST, 17/04/2019)


COLONY TO EXPAND TO 5 LOCATIONS BY MID-2019

To uphold its commitment as the luxury co-working leader, Colony will expand to five locations by June 2019, with its flagship, Colony @ Star Boulevard KLCC and its first Selangor location, Colony @ Mutiara Damansara. The group currently has three locations including Colony @ Eco City located at KL Eco City, Colony @ KLCC located within Vipod Residences and Colony @ KL Sentral (15,000 sq. ft.) located within Q Sentral, which is the third location and was launched in February 2019.

(The Sun, 19/04/2019)


HAIER EYES 50% RISE IN SALES IN 2019

Haier Electrical Appliances (M) Sdn Bhd (Haier Malaysia), the local distributor for home appliances, is targeting to increase sales by 50% to RM270 million in 2019. Haier Malaysia imports most of its products and distributes them via 300 retail outlets, including major chain stores. The next step for the brand is to enhance its 24/7 customer service careline and to open a flagship customer service centre in Puchong in June 2019.

(NST, 13/04/2019)


EXPANDING REACH WITH SECOND STORE

SOGO has opened its second department store at the Central i-City shopping centre in Shah Alam, Selangor. The new store spans circa 200,000 sq. ft. of retail space across four levels. Regarding the department store’s expansion plans, the brand is opening another new store in Mid Valley Southkey, Johor Baru, on April 23, 2019. By 2022, Sogo should have expanded its total network to six stores, which includes Prai Megamall in Penang, Selayang, Terengganu, and the first Seibu department store at the Tun Razak Exchange (TRX) Lifestyle Precinct in Kuala Lumpur.

(The Star, 15/04/2019)


FURNITURE COMPANY OPENS LARGEST STORE IN KL MALL

Owned and operated by Hauslife Furniture Sdn Bhd, the sole licensee and operator of Ashley Furniture in Peninsular Malaysia, Ashley Furniture HomeStore has opened its largest flagship store in Kuala Lumpur at Quill City Mall. The 13,993 sq. ft. store is the company’s fourth store and Hauslife aims to open eight more stores by 2022.

(The Star, 16/04/2019)


HEKTAR REIT IN TALKS FOR RETAIL ASSET

Hektar Real Estate Investment Trust (Hektar REIT) is in active negotiations to acquire a retail asset as plans to double its asset value to RM2.4 billion by 2026 are on track. However, Hektar REIT declined to divulge further information on the retail asset but reiterated that its strategy is to own geographically diverse malls that are “yield accretive”.

(The Edge Financial & The Star, 17/04/2019)


PRASARANA SIGNS DEAL WITH WHSMITH

Prasarana Malaysia Bhd has signed a definitive agreement with British retailer WHSmith, where the latter will open stores at Prasarana’s train stations in the Klang Valley. WHSmith is a book and stationery retailer which has stores in a few airports in Malaysia. These include Kuala Lumpur International Airport (KLIA), klia2 and Senai International Airport.

(The Edge Financial & NST, 17/04/2019)


RETAIL INDUSTRY TO GROW 4.5% IN 2019

The Malaysian retail industry is expected to grow by 4.5% in 2019 compared with 3.9% in 2018, due to improved business sentiment with China. However, the food and beverages sector is expected to experience a slowdown due to financial constraints among Malaysians, leading to lower spending power.

(The Sun, 18/04/2019)


MEH EXPLORES POSSIBILITIES FOR THIRD PROJECT

Mammoth Empire Holding Sdn Bhd (MEH) has several ideas for its 45 acre “Empire City Damansara 2” (ECD2) in Damansara Perdana, Petaling Jaya, one of which includes developing the land in a joint venture with a reputable developer and an outright sale of the land. MEH expects to commence construction works in 2020. ECD2 will take approximately 10 years, in which planning approval from Petaling Jaya City Council has been granted for the development, which comprises residential towers, offices, hotels, retail and a theme park.

(NST, 18/04/2019)


BINTAI KINDEN STOPS MALACCA PROJECT

Bintai Kinden Corp Bhd has scrapped plans for a RM350 million mixed development project in Malacca. In October 2017, Bintai Kinden announced that it will form a joint venture with Springs Development Sdn Bhd to develop 4.74 acres of land in Malacca for hospitality, residential and/or commercial purposes. The memorandum of understanding was then extended twice before it has now finally lapsed.

(The Sun & The Edge Financial, 19/04/2019)


BOOST FOR MANUFACTURING SEGMENT

Malaysia’s manufacturing segment will benefit the most once the government rolls out an integrated fifth-generation (5G) network. The manufacturing segment would greatly benefit from faster speeds as more firms are opting for automation and the use of big data analytics.

(NST, 16/04/2019)


IKHMAS JAYA DEFERS CONSTRUCTION OF NEW MANUFACTURING FACILITY

For the third time, Ikhmas Jaya Group Bhd has deferred the construction of its new prefabricated building system manufacturing facility in Teluk Panglima Garang, Selangor. According to Ikhmas Jaya’s listing prospectus dated June 30, 2015, the new facility was expected to have a total built-up area of 46,150 sq. ft., including a 20,000 sq. ft. warehouse and was originally set to commence operations in early August 2016.

(The Edge Property, 17/04/2019)


BAT TO CONSIDER OPENING ANOTHER MALAYSIAN FACTORY

British American Tobacco (M) Bhd (BAT), which had shut down its Petaling Jaya plant in 2017, will consider opening another factory in Malaysia depending on “the market situation for legal cigarettes in the country”.

(The Star, The Sun & The Edge Financial, 19/04/2019)


VISIT MALAYSIA YEAR 2020 TARGETS 60,000 KIWIS

Malaysia aims to welcome 60,000 New Zealanders in 2020 as the country prepares for Visit Malaysia 2020, a campaign targeting to bring in 30 million international tourists. In 2018, a total of 50,698 New Zealanders visited Malaysia, from the total of 25.8 million international tourists. Currently, there are seven flights per week offering 2,009 seats from New Zealand to Malaysia.

(The Star, 13/04/2019)


ZENITH OPENS RM195 MILLION HOTEL

Zenith Aim Sdn Bhd has invested RM195 million in a business hotel in Putrajaya and foresees good prospects in view of Visit Malaysia 2020. The 5-star hotel that comprises 253 rooms is officially open to the public and is certified as energy efficient.

(NST, 16/04/2019)


FIRE AND RESCUE DEPARTMENT PROPOSE BUILDING AIR BASE IN BUKIT JELUTONG

The Fire and Rescue Department proposes to build an airbase on its 10.8 acre site in Bukit Jelutong to replace the department’s airbase in Subang. The department is studying the matter and is expected to submit the proposal to the Malaysian Government shortly.

(The Edge Property, 17/04/2019)


RM9 MILLION MAKEOVER FOR TAIPING MARKET

Taiping Market, which is the oldest market in Malaysia, will undergo massive restoration works costing RM9 million. Works on the 1 acre site (which houses 212 lots), will commence in 2020 and is slated for completion two to three years thereafter.

(NST, 18/04/2019)


WIDAD SECURES RM190 MILLION HOSPITAL JOB

Widad Group Bhd has been appointed as the main contractor for a 200-bed private hospital project on 3.43 acres of land in Pekan Kinrara, with a total contract value of RM190.5 million. The scope of works includes designing, constructing and completing the development of the project.

(The Sun, The Star, NST & The Edge Financial, 19/04/2019)


KPJ TO SPEND UP TO RM300 MILLION ON CAPEX ANNUALLY

KPJ Healthcare Bhd will allocate up to RM300 million as yearly capital expenditure. In 2019, the company will open two new hospitals: KPJ Batu Pahat Specialist Hospital and KPJ Miri Specialist Hospital, in 3Q19 and 4Q19 respectively. The company will also be relocating its hospitals in Johor’s Kluang and Kuching, Sarawak, in 4Q19.

(The Star, 19/04/2019)


REHDA: BIGGEST HURDLE IS STRICT LENDING CONDITIONS BY BANKS

According to the Real Estate and Housing Developers’ Association (Rehda), strict conditions imposed by banks on home loan applicants are the biggest hurdle in the property market and banks should gauge an applicant’s ability to repay their loan using aspects of their financial background outside the debt-service ratio. “Tight-fisted” bank conditions remained an obstacle, amidst the government’s measures to encourage home ownership by waiving stamp duty fees and providing other incentives and discounts as part of the Home Ownership Campaign (HOC), which ends in June 2019.

(The Edge Property, 16/04/2019 & The Sun, 17/04/2019)


VALUERS SAY CURRENT WEAK RESIDENTIAL MARKET WON’T PROLONG

According to the Valuation and Property Services Department Malaysia, the residential market has stabilised and is expected to remain flat until the end of 2019.

(The Star, 17/04/2019)


CAGAMAS: M40 SHARED EQUITY HOME OWNERSHIP SCHEME IN THE WORKS

The National Mortgage Corporation of Malaysia (Cagamas Bhd) plans to introduce a shared equity home ownership scheme for the middle 40% (M40) group. The schemes are essentially a partnership between the Malaysian Government (or relevant agencies), banks and homebuyers. They allow homebuyers to purchase homes without being burdened by a substantial down payment and high monthly instalments. Cagamas Bhd is currently working with some government-owned property developers (such as PR1MA) regarding details of the scheme.

(The Edge Property, 13/04/2019)


MALAYSIANS WANT REGULATIONS FOR SHORT-TERM RENTAL INDUSTRY

The findings of a survey commissioned by Airbnb with a total of 880 respondents reveal that national guidelines are the preferred regulatory method for at least half of respondents (50%), over other methods such as building and community regulations (26%); and state and local regulations (24%). Meanwhile, the majority (89%) support the Airbnb community model as a way to grow Malaysian tourism. Circa 74% of Malaysians agree that Airbnb allows Malaysian entrepreneurs to kick-start their own businesses and become financially self-sufficient. 74% of Malaysians agree that Airbnb assists in diversifying tourism into neighbourhoods outside traditional tourist areas and 70% agree that Airbnb helps to attract more long-term travellers to Malaysia.

(The Edge Property, 17/04/2019)


SIME PROPERTY SPENDS RM3 MILLION ON “DTO” PLATFORM

Sime Darby Property Bhd has spent RM3 million in seed funding for “dto”, Malaysia’s first experiential online platform based on buyers’ co-creation and crowd-sourcing. “dto” will allow Sime Property to engage with potential customers regarding their preferred development concept, design and amenities.

(StarProperty, 18/04/2019; NST, The Star & The Edge Financial, 19/04/2019)


INCLUDE RESIDENTIAL VACANCY RATES IN NAPIC REPORT

The Malaysian Government should include information on “Residential Vacancy Rates” (RVR), in order to provide more comprehensive data for industry stakeholders. The vacancy rate is calculated by multiplying the number of vacant units by 100, which is then divided by the total number of units in the building. When the RVR exceeds 7%, this will be a “warning” against the addition of further supply and a signal for developers and local authorities to review and reconsider new projects, in order to manage incoming supply.

(The Sun, 19/04/2019)


NEW SERVICED APARTMENTS IN IOI RESORT CITY, PUTRAJAYA

Expected to be launched in May 2019, the “Clio 2 Residences” comprises 550 serviced apartments within three residential towers in the well-planned 788 acre, freehold IOI Resort City. With only eight units on each floor, two of the towers are 23 storey blocks, while the remaining tower is a 35 storey block. The units have built-ups ranging from 892 sq. ft. to 1,216 sq. ft., with three bedroom units priced from RM492,000.

(The Star, 15/04/2019)


IIBD SET TO BE A WORLD-CLASS BUSINESS DISTRICT IN JOHOR

The Ibrahim International Business District (IIBD) is earmarked to be a “world-class” business district in the Southern Gateway into Malaysia. Sprawling across 249.58-acres, IIBD is located within the Southern Johor Economic Region and central district of Johor Baru. The gazetted IIBD Blueprint predominantly comprises commercial uses, followed by “public place making”.

(NST & The Star, 17/04/2019)


JOHOR CORP URGES GOVERNMENT TO EXPEDITE RTS DEVELOPMENT

Johor Corp (JCorp) is urging the Federal Government to expedite the development of the Johor Baru-Singapore Rapid Transit System (RTS) link, as the corporation spearheads the rejuvenation of the Central Business District (CBD) in the state’s capital city. The RTS is a rapid rail link between Johor Baru and Singapore, which will also become the third bridge between Malaysia and Singapore after the Johor-Singapore Causeway and the Second Link in Iskandar Puteri.

(The Edge Financial, 17/04/2019)


ISLANDS TO DRIVE STATE ECONOMY

Over RM70 billion is expected to be raised from the three man-made islands under the Penang South Reclamation Scheme (PSR), which is sufficient to spearhead the state’s economic development for the next 30 years. Circa RM46 billion will be used for the construction of the RM9 billion Light Rail Transit (LRT) line, the RM9.6 billion Pan Island Link 1 (PIL 1), and other supporting infrastructure projects under the Penang Transport Master Plan (PTMP). The National Physical Planning Council is expected to approve the reclamation of the three islands, totalling 4,500 acres, before the end of April 2019. Island A will house industrial projects (of which lots will be developed for sale to foreign and local investors to generate funds for PTMP) and residential development, while Island B will accommodate the state administrative offices and commercial properties. Residential properties will be developed on Island C.

(The Star, 16/04/2019)


PLANS TO LINK GEORGE TOWN’S WATERFRONTS IN REJUVENATION PROGRAMME

The heritage city’s north and east seafronts will be linked and “made accessible” to the public under a master plan to rejuvenate both areas. It has been reported that restoration works and seawall expansion have already begun for the north seafront from Dewan Sri Pinang to Fort Cornwallis and the entrance to Swettenham Pier. George Town Conservation and Development Corp Sdn Bhd is now embarking on a similar concept for the east seafront master plan, in order to connect it with the north. The east seafront masterplan will encompass Swettenham Pier, up to the ferry terminal. All these will also include restoring a row of six godowns lining the road between the pier and Tanjung City Marina.

(The Edge Property, 14/04/2019)


DOE APPROVES PAN ISLAND LINK 1’S EIA REPORT

The Department of Environment (DOE) has issued a conditional approval for the Pan Island Link 1 (PIL1) project. Approvals from the other Government departments will be sought to ensure that the project can commence by June 2020. The Penang State Government is still pursuing relevant approvals for the Bayan Lepas Light Rail Transit and Penang South reclamation projects while working on the detailed design phase and appointing the work package contractors for the PIL 1 project via open tender.

(The Edge Financial, The Star, The Sun & NST, 16/04/2019)


PENANG LRT PROJECT TO COMMENCE IN 2020

Construction of the proposed Komtar-Bayan Lepas Light Rail Transit (LRT) project is expected to begin in 2020. The project is currently awaiting conditional approval by the Transport Ministry. Slated to take circa six to eight years to be completed, the rail line for the LRT project will cover 27 stations (spanning across 29.5 km), running from Komtar to the Penang International Airport and to the three future reclaimed islands situated in the south of Penang.

(The Edge Financial & The Sun, 17/04/2019)


PENANG SOUTH RECLAMATION PROJECT GETS PUTRAJAYA’S GREEN LIGHT

The proposed Penang South Reclamation (PSR) project, which entails the reclamation of three islands on the southern part of Penang Island, has received approvals from the National Physical Planning Council. The PSR is a mega reclamation project to create three islands with a total size of 4,500-acres.

(The Edge Financial, 19/04/2019)


PENANG GOVERNMENT SEES PROMISING FUTURE FOR PROPERTY MARKET

The Penang State Government expects the state’s property market to be “promising in the near future” as the present soft market situation is merely a cyclical phenomenon. The promising future for Penang’s property market is also supported by the state’s strong economic fundamentals and upcoming infrastructure projects for transportation such as the Penang Transport Master Plan, which continues to be a key agenda of the state government.

(The Edge Property, 13/04/2019)


KK-KUDAT RAIL PROJECT AT TOR AND PRELIMINARY ROUTE STUDY STAGE

The Sabah Ministry of Infrastructure Development, via the Sabah State Railway Department (JKNS) is in the process of preparing the Terms of Reference (TOR) and a preliminary route study on the 175km Kota Kinabalu (KK)-Kudat rail project. Based on findings of the study, physical construction works are slated to commence in 2021 and complete by 2024.

(The Edge Property, 17/04/2019)


BOUSTEAD PLANTATIONS RM750 MILLION LAND BUY IN SABAH

Falling crude oil prices aside, a RM750 million acquisition of 42 parcels of plantation land (a total of 11,579.31-acres in Beluran, Sabah) contributed to the reasoning of why Boustead Plantations Bhd recorded its first full-year loss since listing in 1973. Boustead Plantations will also be acquiring another 12,145.83 acres in Sabah for RM397 million, in which the company expects to conclude the acquisition in the middle of 2019.

(The Edge Property, 13/04/2019)


1,740 PPRT HOUSES TO BE BUILT IN SABAH IN 2019

In 2019, the Federal Government will be building 1,740 houses under the Housing Programme for the Hardcore Poor (PPRT) in Sabah. The government would also carry out repairs for 445 PPRT housing units in Sabah. A total of 225 PPRT units will be built in Phase 1.

(The Edge Property, 16/04/2019)


PROPERTY OVERHANG IN SABAH NOT SERIOUS

The Sabah State Local Government and Housing Minister denoted that the problem of “overhanging” housing units in Sabah is not severe, based on records obtained for the past six years. During the period, there were 10,769 units of unsold houses with an average of 1,795 units a year.

(The Edge Property, 17/04/2019)


HOCK SENG LEE SECURES RM299 MILLION BATANG PALOH BRIDGE JOB

Hock Seng Lee Bhd (HSL) has secured a RM298.98 million contract to build the 1.9km Batang Paloh Bridge in Mukah, Sarawak, under the state’s coastal road construction scheme. The project is slated to commence in May 2019 and complete in 2023.

(The Edge Financial, The Star, The Sun & NST, 18/04/2019)


SEDC, CHINA FIRM IN RM7.4 BILLION TIE-UP

Shan Ying International Holdings Co Ltd (a China-based Fortune 500 company) and Sarawak State Economic Development Corp (SDEC) plan to jointly invest in a RM7.4 billion pulp and paper manufacturing plant in Samalaju Industrial Park, Bintulu. Phase 1 of the plant will commence in 2020 and complete in 2023 following which Phase 2 will commence.

(The Star, 15/04/2019)


RICS

All rights reserved (C) 2016

Jones Lang Wootton