HIGH-IMPACT ECERDC PROJECTS CAN IMPROVE LIVING STANDARDS OF KELANTAN FOLKS

The Federal Government Malaysia through the East Coast Economic Region Development Council (ECERDC) is working closely with the Kelantan State Government to implement various high-impact projects and human capital programmes to generate socio-economic development in Kelantan. ECERDC has identified key sectors that have the potential to create long-term economic growth, which includes the tourism sector.

(The Edge Markets, 22/02/2021)


MALAYSIA CPI SLIPPED 0.2% YEAR ON YEAR IN JANUARY 2021

Malaysia’s inflation, as measured by the Consumer Price Index (CPI), declined -0.2% in January 2021 to 122.1, from 122.4 recorded in January 2020. The January 2021 CPI decline was attributed by several indexes, including transport (-5.1%), housing, water, electricity, gas and other fuels (-0.7%), clothing and footwear (-0.4%), and restaurant and hotels (-0.1%), which contributed 44.5% to the overall weight.

(The Edge Markets, 24/02/2021; NST, The Star & The Sun, 25/02/2021)


KUANTAN NOW A CITY

As the capital of Pahang is now a city, economic growth will be ensured, thereby resulting in spillover effects that can be enjoyed by those in the outskirts and nearby towns like Pekan and Maran. One of the projects which will become a game-changer is the 640km East Coast Rail Link which connects two main ports which include Port Klang and Kuantan Port.

(The Edge Markets, 21/02/2021; NST, The Sun & The Star, 22/02/2021)


BENTONG SET TO BECOME THE SECOND CITY IN PAHANG

Bentong is set to become the second city in Pahang after Kuantan, with the process of upgrading the Bentong Municipal Council expected to be completed by 2021. Bentong has met the criteria to be elevated to city status in terms of income but has not reached the required population of more than 500,000 people. The Ministry of Housing and Local Government will see if some flexibility can be given, taking into account the development being carried out there.

(The Edge Markets, 22/02/2021)


ECK GROUP TO PARTNER WITH KEDAH STATE GOVERNMENT

ECK Group of Companies will partner with the Kedah State Government to develop the Kulim International Airport project. ECK would be directly involved as a strategic partner in the project, from construction to commissioning stages. Besides the dual-runway international airport project, the partnership will also involve the development of the Kedah Aerotropolis and Airport City in Mukim Sidam Kiri, Kuala Muda.

(The Edge Markets, 24/02/2021)


TELADAN SETIA TO FOCUS ON MELAKA PROPERTY SECTOR

Teladan Setia Group Bhd plans to acquire land parcels worth over RM35 million for its residential projects in Melaka. Although the company has yet to finalise its choice of land to purchase, the company optimistically expects that this is an opportune time for it to expand its land bank, given the low prices amid the property market slowdown. The land would be used to develop residential properties, which would be sold at RM400,000 to RM500,000.

(The Edge Markets, 23/02/2021; The Star & The Sun, 24/02/2021)


UEM SUNRISE SELLING LAND IN KLCC AREA

UEM Sunrise Bhd is disposing of 1.59-acres of land within the KLCC area, which is set to generate interest from both local and foreign investors. The land has dual frontage, as it faces Jalan Ampang and Jalan P. Ramlee. The land, which is zoned as commercial and located in Section 58, Bandar Kuala Lumpur, is now up for tender.

(The Star, 25/02/2021)


SIME DARBY PROPERTY TO ROLLOUT RM2.5 BILLION WORTH OF PROJECTS IN 2021

Sime Darby Property is set to launch projects with a Gross Development Value (GDV) of RM2.5 billion in 2021. Key launches in 2021 under the industrial and logistics segment include new phases in “Elmina Business Park” comprising 303 industrial units and 78 commercial units, with a GDV of RM1.26 billion in 2Q21. The company will also expand product offerings to include its first multi-tenant ready-built warehouse with a GDV of RM530 million in “Bandar Bukit Raja Industrial Gateway”. Under the residential segment, the company will unveil the luxury high-rise “Jendela Residences” in March 2021. This development is located in the flagship KLGCC Resort township, with a GDV of approximately RM900 million.

(The Edge Property, 25/02/2021)


MAH SING TO DEVELOP BANDAR BARU SALAK TINGGI HOMES

Mah Sing Group Bhd will be developing a 100-acre leasehold land in Bandar Baru Salak Tinggi, comprising mainly affordable landed homes with a gross development value of RM656 million. Based on preliminary plans, the development to be named as “M Senyum” will mainly comprise double-storey terraced houses on 18 ft. x 65 ft. and 20 ft. x 70 ft. lots, with prices starting from RM399,000. The project is expected to be developed over five years, with the registration of interest and launching targeted to be in 2H21.

(The Star, 20/02/2021)


PKNS SELLS 77 UNITS OF PUTERI SORAYA DURING PRELAUNCH

The Selangor State Development Corp (PKNS) has sold 77 houses online during the prelaunch period of the “Puteri Soraya” project in Rawang, Gombak, which commenced on 1st February 2021. “Puteri Soraya” comprises 176 two-storey terraced houses measuring 1,642 sq. ft. with four bedrooms and three bathrooms each. Slated to be completed at the end of 2021, the project is priced at RM388,888.

(The Sun, 26/02/2021)


500 RUMAH MALAYSIA UNITS TO BE BUILT IN LANCHANG

The Ministry of Housing and Local Government plans to build 500 units of “Rumah Malaysia” {previously known as People’s Housing Project (PPR)} in Lanchang, Pahang. The built-up area of “Rumah Malaysia” would be no less than 900 sq. ft., compared with the current approximate 700 sq. ft. In 2021, a total of 11 “Rumah Malaysia” projects comprising 4,120 units would be built nationwide, of which three are located in Johor, which includes Kluang, Sembrong and Pengerang.

(The Edge Markets, 20/02/2021 & The Sun, 22/02/2021)


KEJURUTERAAN ASASTERA SECURES RM23.4 MILLION JOB

Kejuruteraan Asastera Bhd (KAB) has secured a contract worth RM23.4 million from CNQC Engineering & Construction (Malaysia) Sdn Bhd for design, supply and maintenance work in “Agile Embassy Garden”, Kuala Lumpur. The date of commencement of the contract is 22nd February 2021 and it is expected to be completed by 31st October 2023. Located in the prestigious Embassy Row, along Jalan Ampang in Kuala Lumpur, the project comprises three 64-storey towers, which houses a total of 1,296 serviced apartment and retail units.

(The Edge Markets, 22/02/2021)


SKYWORLD COLLABORATES WITH MAYBANK ISLAMIC’S HOUZKEY

SkyWorld Development Group has tied up with Maybank Islamic’s HouzKEY home financing scheme to offer 100% financing with no down payment requirement, no payment during construction and low monthly payments for its latest projects: the final tower (Block C) of “The Valley Residences” (Phase 1 of SkySierra) in Setiawangsa and “SkyVogue Residences” in Taman Desa, Kuala Lumpur.

(The Edge Markets, 22/02/2021)


KANGER PROPOSES RIGHTS ISSUE TO FINANCE PROPERTY ACQUISITION

Kanger International Bhd has proposed to embark on a renounceable rights issue to acquire 126 units of serviced apartments in Genting Highlands from the developer, Aset Kayamas Sdn Bhd, for RM142.87 million. Aset Kayamas is developing “Antara @ Genting Highlands”, which comprises four blocks of 44 to 46 storey freehold serviced apartments, totalling 1,460 units.

(The Sun, 25/02/2021)


ECONSAVE TO ADD SEVEN MORE BRANCHES THIS YEAR

Econsave Cash & Carry Sdn Bhd plans to add seven more supermarket branches in 2021, despite the economic challenges posed by the Covid-19 pandemic. The setting up of seven new branches (which includes Johor) took into account the stable and encouraging increase in sales even though Malaysia was under various Movement Control Orders since 18th March 2020.

(The Edge Property, 20/02/2021)


FOREIGN HYPERMARKETS STILL LOOKING FOR BUMIPUTERA PARTNER

Three out of the four foreign hypermarket players in Malaysia have yet to meet local shareholder requirements. These include Japan’s AEON BiG (M) Sdn Bhd, the UAE’s Lulu Group Retail Sdn Bhd and Thailand’s Lotuss Stores (Malaysia) Sdn Bhd (Lotus’s Malaysia) (formerly Tesco Stores [M] Sdn Bhd). Foreign hypermarket owners in Malaysia must sell 30% of their business to a bumiputera investor within three years of entry. However, it is difficult for a foreign hypermarket to find a bumiputera investor to take up a 30% stake in the enterprise given the huge sum required.

(The Edge Property, 20/02/2021)


BURGER KING MALAYSIA TO INVEST RM30 MILLION IN FIRST COMPLETE REBRANDING IN OVER 20 YEARS

Burger King, which is undertaking its first complete rebranding exercise in over 20 years, aims to grow its restaurant base in Malaysia by a further 20% or 25 restaurants by the end of 2021. The new restaurants would bear a new visual identity and the set-up cost would amount up to RM30 million. Burger King Malaysia currently manages over 120 restaurants in Malaysia.

(The Edge Markets, 25/02/2021)


LEON FUAT’S UNIT ACQUIRING PROPERTY IN SELANGOR FOR RM28 MILLION

Leon Fuat Bhd’s unit, Supreme Steelmakers Sdn Bhd, is acquiring circa 2.5-acres of land in Balakong Jaya Industrial Area, Selangor, along with the factory, warehouse and office building on it, for RM28 million, from Leon Fuat Holdings Sdn Bhd (LF Holdings). LF Holdings is Leon Fuat’s major shareholder with a 70.9% stake.

(The Edge Property, 24/02/2021 & The Sun, 25/02/2021)


UDA TO DEVELOP COOPERATIVE RETAIL STORES IN NEGERI SEMBILAN

The Ministry of Entrepreneur Development and Cooperatives has appointed UDA Holdings Bhd to develop cooperative retail stores in Kuala Klawang, Negeri Sembilan. Slated to complete within eight months, the “UDA Niaga” project would involve the development of four lots of two-storey shophouses on 0.17 acres of land owned by Koperasi Kakitangan Kerajaan Daerah Jelebu Bhd.

(The Edge Markets, 22/02/2021)


HOTELS STRUGGLING TO STAY AFLOAT ON HIGHLY VOLATILE DOMESTIC MARKET

According to the Malaysian Association of Hotels, circa 100 hotels have been forced to temporarily or permanently cease operations since 2020, which has directly affected over 7,000 employees. More hotels have followed suit since the second Movement Control Order in early January 2021, with 6% of employees being laid off, while others are under unpaid leave or experiencing direct pay-cuts.

(EdgeProp.my, 26/02/2021)


GENTING SKYWORLDS SET TO OPEN MID-2021

Genting Malaysia Bhd’s Resorts World Genting (RWG) has announced that its new outdoor theme park “Genting SkyWorlds”, is expected to be ready and opened to the public in 2Q21. The 6,000 ft. above sea level theme park will span over 25.9-acres, featuring 26 rides and attractions.

(The Edge Markets, 23/02/2021; The Star, NST & The Sun, 24/02/2021)


PRIORITY TO FRONTLINERS IN HOUSING PROJECT

A total of 12,253 housing units under the “Caring Residency” programme will be built in Putrajaya, with priority given to frontline workers. The Ministry of Federal Territories was working with Putrajaya Corporation to develop the project on 10 sites in Precincts 5, 7, 11, 16 and 19. Protasco Development Sdn Bhd signed an agreement to build 1,592 units for the “Kenanga” and “Melur Caring Residency” project in Putrajaya, which will be sold at RM200,000 a unit. The project, which is still in its planning stage, is scheduled for completion in 2025.

(The Edge Markets, 22/02/2021 & The Sun, 23/02/2021)


RTS TO FURTHER SPUR JOHOR’S ECONOMY

The State of Johor is slated to boom further by the next five years with the completion of the Rapid Transit System (RTS) Link which will take commuters merely five minutes to reach Singapore. Out of the 4km line connecting Bukit Chagar in Johor Baru and Woodlands in Singapore, an elevated stretch of 2.7km would stand within the Malaysia boundary. The RTS Link project was meant to be completed in 2024, but work was suspended and the project is now slated to be completed by the end of 2026. The RTS is located within the Ibrahim International Business District encompassing over 250 acres of the existing Johor Baru city centre, which is poised to become the next economic growth zone.

(The Star, 22/02/2021)


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