MALAYSIA, INDONESIA AGREE IN PRINCIPLE ON RECIPROCAL GREEN LANE
Malaysia and Indonesia have agreed in principle to implement the Reciprocal Green Lane (RGL) scheme or known in Indonesia as corridor travel arrangement to enhance bilateral trade. However, a follow-up was required to fine-tune the standard operating procedures involved. The RGL is not open to all as it is only to facilitate travel for government officials and investors from both countries and to enhance trade, particularly regarding high-value dealers.
(The Edge Markets, 06/02/2021 & NST, 07/02/2021)
WEAK CONSUMER CONFIDENCE POSES CHALLENGE
A survey by the Malaysian Institute of Economic Research (MIER) indicated that consumers are increasingly worried about their income and job security as the Covid-19 pandemic continues, further straining their confidence. The MIER’s Consumer Sentiments Index had slipped 6.3 points to 85.2 for 4Q20 from 3Q20.
(The Star, 08/02/2021)
MALAYSIA’S 2020 IPI DECLINES 4.2%, FIRST DROP SINCE 2009
Malaysia’s Industrial Production Index (IPI) grew 1.7% year on year in December 2020 as the index recorded 4.1% growth in the IPI’s manufacturing segment, however, mining and electricity components declined by -5.4% and -0.2%, respectively. For the full year, the nation’s 2020 IPI declined by -4.2% compared with 2019, its first contraction since 2009.
(The Edge Markets, 08/02/2021 & The Sun, 09/02/2021)
MALAYSIA REMAINS ATTRACTIVE INVESTMENT DESTINATION IN ASIA
Malaysia remains an attractive investment destination due to the availability of excellent infrastructure, telecommunication services, financial and banking services, supporting industries, skills and trainable workforce and market opportunities offered through the 16 Free Trade Agreements that the Malaysian Government has signed. The Malaysian Investment Development Authority has identified 240 high-profile foreign investment projects including Fortune 500 companies in the manufacturing and services sectors, with a combined potential investment value of RM81.9 billion.
(The Star, 09/02/2021)
UNEMPLOYMENT AT 4.5%
The labour force survey conducted by the Malaysian Government showed that the unemployment rate for 2020 had risen to a record level of 4.5% due to the ongoing Covid-19 pandemic. Compared with 3Q20, the 4Q20 figure indicated that the unemployment rate increased 0.1 percentage point from 4.7%, whereby in December 2020, unemployment rose to 772,900 persons at a rate of 4.8%.
(The Star & The Sun, 09/02/2021)
MALAYSIA’S POPULATION STANDS AT 32.73 MILLION
Malaysia’s population is estimated at 32.73 million in 4Q20, an increase of 0.4% from 32.59 million in 4Q19. The country’s total population comprised 91.2% citizens and 8.8% non-citizens. Males outnumbered females at 16.83 million and 15.90 million, respectively.
(The Edge Property, 10/02/2021)
MALAYSIA 2020 WHOLESALE, RETAIL SALES VALUES DECLINE 5.9%
Malaysia’s wholesale and retail trade contracted by -5.9% for the year 2020. In December 2020, wholesale and retail trade declined by -0.3% year on year to RM115.5 billion. Retail trade declined 2% year on year or RM0.9 billion to RM46.8 billion in December 2020, while wholesale trade recorded a decline of RM0.3 billion or -0.6% year on year to RM55.3 billion. On the other hand, motor vehicles continued to record positive growth with an increase of RM0.9 billion or 7.4% year on year to RM13.4 billion.
(The Edge Markets, 09/02/2021 & NST, 10/02/2021)
EPF PLANS TO SELL ASSETS
The Employees Provident Fund (EPF) has identified at least seven assets with a total estimated value of RM350 million to RM450 million to be put up for sale. The buildings are Bangunan KWSP on Jalan Raja Laut and Bangunan KWSP on Changkat Raja Chulan, Kuala Lumpur, Bangunan KWSP Damansara Fairways in Petaling Jaya, Selangor, Marina Vista Suite Hotel Block B within Avillion Admiral Cove in Port Dickson, Negeri Sembilan, a retail property in Section 18, Shah Alam, Selangor and two assets in Kangar, Perlis and Alor Setar, Kedah.
(The Edge Property, 06/02/2021)
CHIN HIN GROUP PLANS TO LAUNCH RM3.73 BILLION WORTH OF PROJECTS IN THE NEXT TWO YEARS
Chin Hin Group Property Bhd plans to spend RM268 million to acquire 81.9 acres of land in the Klang Valley to develop five different property projects and aims to launch projects worth RM3.73 billion in gross development value in the next two years. The company intends to expand its portfolio of developments to various growth corridors in the Klang Valley such as Serendah, Bandar Kinrara, Bangsar South and Cyberjaya. The types of developments proposed include townships, serviced apartments, mixed-use developments and offices.
The company also announced the acquisition of an 11.53-acre plot in Cyberjaya for RM50.22 million, as part of its bid to replenish its landbank. Estimated to generate RM1.1 billion in gross development value, the company has proposed to construct a mixed-use development on this freehold land that is currently vacant.
(The Edge Markets, 08/02/2021; The Sun, The Star & NST, 09/02/2021)
SCIB SECURES CIRCA RM822 MILLION CONTRACTS IN KUCHING AND QATAR
Sarawak Consolidated Industries Bhd (SCIB) secured contracts totalling RM821.97 million for a property development project in Kuching and an engineering and construction job in Qatar. SCIB had accepted the letter of award for an engineering, procurement, construction and commissioning contract in Kuching worth RM421.97 million from Lestari Asiabina Sdn Bhd for a 20-storey mixed development tower, condominiums and apartments, a clubhouse and shophouses. As for the Qatar project, it is for the country’s north field expansion where it will provide the manpower, civil and mechanical, electrical & plumbing engineering work.
(The Edge Markets, 09/02/2021; The Sun, The Star & NST, 10/02/2021)
ORIENTAL INTEREST TO ACQUIRE LAND IN KLANG FOR RM64 MILLION
Oriental Interest Bhd intends to acquire a freehold land measuring 643,089 sq. ft. in Klang for RM64.31 million from Gabungan Efektif Sdn Bhd to complement its existing development around the Klang Valley.
(The Edge Markets, 09/02/2021)
CONSTRUCTION OF 12,000 UNITS TO COMMENCE ON 22ND FEBRUARY 2021
The Ministry of Federal Territories Malaysia will commence the construction of 12,000 housing units under the “Caring Residency” in Putrajaya on 22nd February 2021. Priced below RM200,000, the project will be built at Presint 7 and 9 in Putrajaya and is slated to be completed within 24 to 30 months.
(The Edge Markets, 06/02/2021)
AWANTEC SELLS OFFICE BUILDING TO SERBA DINAMIK
AwanBiru Technology Bhd (AwanTec) is disposing of an eight-storey office building at Star Central @ Cyberjaya, together with attached fixtures and fittings, to Serba Dinamik Group Bhd for RM24.2 million. According to AwanTec, formerly known as Prestariang Bhd, the disposal is part of its rationalisation plan to divest its non-core assets to improve its financial position and cash flow.
(The Edge Markets, 08/02/2021)
JAKEL GROUP PLANS TO BUILD 74-STOREY BUILDING
Jakel Group is planning to build a 74-storey building on Lot 195, Jalan Pinang, Kuala Lumpur. With a plot ratio of 1:10, the proposed office tower and hotel are slated to be completed by 2025. Plans for the 57,447 sq. ft. freehold parcel comprises three floors of retail and four floors of exhibition space. Other components include a hotel, office and serviced apartment.
(The Edge Property, 06/02/2021)
BDB CHANGES HOTEL CONCEPT TO SERVICED APARTMENT
Bina Darulaman Bhd (BDB) Hotels in Bandar Darulaman, Jitra, Kedah will change its hotel concept to that of a serviced apartment as its business licence is expiring soon. Under the new concept, 72 apartment units will be opened for sale or rent to the public who are interested in buying and renting. BDB Hotels began operations in 2006, offering over 100 guest rooms and chalets.
(The Edge Property, 09/02/2021 & The Sun, 10/02/2021)
LBS SOFT LAUNCHES ITS FIRST SCAPES HOTEL
LBS Bina Group Bhd has announced the soft launch of the “Scapes Hotel” in Genting Highlands, Pahang. The 10-storey first flagship hotel, comprising 176 rooms and amenities include a gym, lap pool, family pool, wading pool, aqua deck, outdoor jacuzzi, and kid’s zone.
MITRAJAYA SECURES RM200 MILLION JOB IN PUTRAJAYA
Mitrajaya Holdings Bhd has secured a RM200 million transit-oriented development project in Putrajaya from Putrajaya Development Sdn Bhd. Slated to be completed in two years, the project involves the construction and completion of 10 levels of podium and external works at Plot 7MD7 in Precinct 7, Putrajaya.
(The Edge Markets, 09/02/2021 & The Star, 10/02/2021)
MALAYSIA LISTED AMONG TOP TEN IN GLOBAL LOGISTICS RANKING
Asia-Pacific nations led all emerging market regions with China, India and Indonesia being the world’s top emerging markets in the 12th annual Agility Emerging Markets Logistics Index, a broad gauge of competitiveness based on logistics strength and business fundamentals. The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers and distributors. Among ASEAN countries, Vietnam climbed three spots to No. 8 overall. The rest of the rankings include Indonesia at No. 3, Malaysia at No. 5 and Thailand at No. 11 and the Philippines rose by one spot to No. 21.
(The Edge Markets, 10/02/2021)
300 TANJUNG TOKONG RESIDENTS RECEIVE NEW HOMES FROM UDA
More than 300 residents of the Tanjung Tokong Phase 4A resettlement project will move into their new homes provided at no cost by UDA Holdings Berhad. Estimated at RM400,000 per unit, Pangsapuri Warisan Tanjung Phase 4A was first developed on 27th October 2014. Developed on 8 acres of land, the project comprises 10 blocks with 550 three-bedroom apartment units, with built-up areas of between 800 sq. ft. and 850 sq. ft.
(The Edge Markets, 07/02/2021 & NST, 08/02/2021)
NBCT’S NEW STATUS TO SPUR PENANG PORT ACTIVITIES
Penang Port Sdn Bhd will be a focal point for shipping and transhipment activities following the gazetting of North Butterworth Container Terminal (NBCT) as a Free Commercial Zone (FCZ) on 1st February 2021. FCZ operations would commence in March 2021 and this would put Penang on the world map as the NBCT would be able to cater to high-tech warehousing and logistic facilities. The process of obtaining FCZ status for Penang Port was an uphill task as gazetting the NBCT involved 10 lots covering 206.5 acres.