IMF MAINTAINS MALAYSIA’S GDP GROWTH AT 6.5% IN 2021

The International Monetary Fund (IMF) maintains its forecast on Malaysia’s Gross Domestic Product (GDP) growth in 2021 at 6.5% and the country’s economy is expected to grow at 6.0% in 2022. IMF expects the country’s unemployment rate to decline to 3.8% in 2021 before further declining to 3.6% in 2022, compared with 4.5% in 2020.

(The Edge Markets, 06/04/2021)


INVESTKL ON TRACK FOR RM1 BILLION FUNDING TARGET IN 2021

InvestKL is optimistic in attracting 10 multinational companies (MNCs) with a combined investment value of RM1 billion for 2021, as InvestKL expects to finalise more than two MNCs involved in insurance, cloud computing, enterprise solutions, big data, engineering and management.

(The Edge Markets, 06/04/2021; The Sun, NST & The Star, 07/04/2021)


RM16.05 BILLION POTENTIAL INVESTMENT

The Ministry of International Trade and Industry of Malaysia has concluded that there is RM16.05 billion in potential investment value and RM986.15 million in export value to be realised in the coming years. In the immediate term, certain companies in South Korea have already committed to cumulatively investing a total of RM7.3 billion in Malaysia.

(The Edge Markets, 07/04/2021 & The Star, 08/04/2021)


MALAYSIA’S UNEMPLOYMENT RATE MARGINALLY DECLINED TO 4.8% IN FEBRUARY 2021

Malaysia’s unemployment rate marginally declined to 4.8% in February 2021 from 4.9% in January 2021. The number of unemployed persons declined by 5,000 or -0.6% from 782,500 in January 2021, to 777,500 in February 2021.

(The Edge Markets, 08/04/2021 & The Star, 09/04/2021)


GOVERNMENT LOOKING TO EXTEND HOME OWNERSHIP CAMPAIGN

The Malaysian Government is looking to extend the Home Ownership Campaign (HOC) until the end of 2021. As of 28th February 2021, a total of 34,354 units of houses worth RM25.6 billion were successfully sold for the 2020-2021 HOC campaign, with discounts totalling RM4.3 billion. The HOC in 2020 was implemented with stamp duty exemption and a 10% discount for eligible applicants to purchase houses worth RM300,000 to RM2.5 million.

(The Edge Markets, 05/04/2021)


FEDERAL TERRITORIES TO BE TURNED INTO SMART CITIES

The country’s three Federal Territories will be turned into smart cities under a new plan launched on 8th April 2021. The planning and development of smart cities are outlined in the Federal Territories Smart City Blueprint (MySmart Wilayah 2030). Outlined in the blueprint are 25 policies, 76 actions, 118 indicators and 25 key performance indicators involving agencies under the ministry. The policies encompass seven main components, which include smart governance, smart economy, smart living, smart environment, smart people, smart mobility and smart infrastructure.

(The Edge Markets, 08/04/2021 & The Sun, 09/04/2021)


CORRIDOR SET TO BECOME NEW GROWTH ENGINE

The Melaka State Government is expecting the Melaka Waterfront Economic Zone (M-WEZ) to contribute circa 5%, or between RM3 billion to RM4 billion, to the State’s annual gross domestic product (GDP) by 2035. The economic growth will be underpinned by M-WEZ’s maritime-oriented zone, given the long coastline and its position as a natural, deepwater harbour. The M-WEZ will sit on 25,000 acres of coastal and reclaimed land along 33km between northern Melaka near Sungai Udang and southern Melaka in Umbai. It will be the new growth engine and a game-changer that is expected to attract more than RM100 billion in high-impact and high-value investments globally over 15 years.

(NST, The Star & The Sun, 09/04/2021)


WCE SECURES RM301 MILLION CONTRACT

WCE Holdings Bhd has secured a RM301 million contract for the West Coast Expressway project. The contract is to construct and complete Section 7, Part 2 of 2 (Section 7B) of the project which is expected to be 30 months from the construction commencement date. Section 7B would be the last section of the project to be awarded which is approximately 10km in length from the beginning of the Assam Jawa Interchange towards the Tanjung Karang Interchange.

(NST & The Star, 03/04/2021)


CONSTRUCTION OF MRT3 PROJECT TO CONTINUE

Construction of the Mass Rapid Transit Line 3 (MRT3) project will begin in 2H21. The first phase of the Putrajaya Mass Rapid Transit (MRT) Line from Sri Damansara Sentral MRT Station to Kampung Batu MRT Station, Kuala Lumpur has reached 97% in construction progress and is expected to begin operations in August 2021. The second phase of the project from Kampung Batu to Putrajaya, which had recorded overall progress of 87%, is scheduled to start operations in January 2023.

(The Edge Markets, 03/04/2021)


ECRL NORTHERN ALIGNMENT REINSTATED

The East Coast Rail Link’s (ECRL) Section C is reverting to its original northern alignment, which was proposed in 2016 and 2017. Comprising seven stations, the 201km northern alignment will comprise the ECRL traversing from Mentakab to Port Klang via Bentong, Gombak and Serendah. Of the seven stations in the northern alignment, five stations which include Temerloh, Bentong, ITT Gombak, Serendah and Jalan Kastam (Port Klang), would be built at the initial stage. Two stations (Puncak Alam and Kapar) in Selangor have been designated as future stations. The project will cost an estimated RM50 billion and is expected to be completed in December 2026. As of March 2021, construction had been progressing at 21.39%.

(The Edge Markets, 05/04/2021; NST & The Star, 06/04/2021)


PARAGON GLOBE TO RAISE RM56 MILLION

Paragon Globe Bhd has proposed a rights issue to raise RM56 million. The proceeds will be utilised as a partial settlement of the consideration for the acquisition of 31.1-acre freehold land in Johor and fund the construction of a 253,354 sq. ft. medical centre in Sepang, Selangor.

(The Edge Markets, 07/04/2021 & The Star, 08/04/2021)


ECOFIRST ACQUIRES SUNGAI BESI LAND

Ecofirst Consolidated Bhd has signed an agreement to acquire 51% equity interest in BCM Holdings Sdn Bhd for RM81.6 million. BCM is the registered and beneficial owner of two contiguous parcels of freehold land measuring circa 4.18 acres in Sungai Besi, Kuala Lumpur. The land has an approved plot ratio of 1:9.3 and building plans for a proposed 1,620 units serviced apartment development within three blocks of 70 storeys has been approved by Kuala Lumpur City Hall.

(The Edge Markets, 07/04/2021 & The Star, 08/04/2021)


SIME DARBY PROPERTY FOCUSES ON ITS NEW GROWTH SEGMENT IN 2021

Sime Darby Property Bhd is focusing on its new key growth segment of industrial and logistics development with key launches in 2021, including further launches in the Elmina Business Park comprising 303 industrial units and 78 commercial units with a gross development value of RM1.3 billion. In 2021, the group will also launch the luxury high-rise “Jendela Residences” in the flagship KLGCC Resort township, further diversifying Sime Darby Property’s residential product mix.

(The Edge Property, 07/04/2021)


GENTING TO PROCEED WITH THEME PARK

Genting Bhd remains cautious on its near-term prospects in the leisure and hospitality industry but intends on capitalising on the eventual recovery of the sector. The group will complete its ongoing development projects in 2021, which include Resorts World Las Vegas, the outdoor theme park at Resorts World Genting, the 400-room hotel at Resorts World Casino New York City and the first phase of new attractions under a mega expansion plan at Resorts World Sentosa. Genting SkyWorlds, Genting’s new outdoor theme park at Genting Highlands, will also open by the middle of 2021. The theme park will feature international class movie-based attractions and movies from 20th Century Studios.

(The Star, 08/04/2021)


LBS SIGNS RECLAMATION AND DEVELOPMENT DEAL IN MELAKA

LBS Bina Group Bhd signed a reclamation and development agreement with Melaka for rights to reclaim and develop an area measuring 1,200 acres. The proposed reclaimed land will be part of the Melaka Waterfront Economic Zone spanning 25,000 acres on the Melaka coastline.

(The Edge Markets, 08/04/2021; The Sun & The Star, 09/04/2021)


OSK PROPERTY UNVEILS EXCLUSIVE ERAMA

OSK Property has introduced the latest “Erama” phase in its 770-acre township of “Iringan Bayu”, Seremban. Only 180 single-storey semi-detached homes will be released with dedicated facilities and situated close to the 22-acre Wetland Park. Priced from RM534,420 with a built-up area of 1,319 sq. ft., the houses are fitted within 11.87 acres of freehold land and scheduled for completion in 2Q23.

(StarProperty, 06/04/2021)


BINA DARULAMAN, LAGENDA PROPERTIES, TO DEVELOP “DARULAMAN PUTRA”

Bina Darulaman Bhd and Lagenda Properties Bhd had formed a 50:50 joint venture to undertake an affordable township project in Sungai Petani with a gross development value of RM565 million. The township, called Darulaman Putra, would comprise residential and commercial components on 230 acres of freehold land. The project would be carried out in four phases, with Phase 1 comprising 282 affordable housing units each priced between RM150,000 and RM200,000 and is scheduled to be completed within two years from the commencement of construction works at the site.

(The Edge Markets, 06/04/2021; NST & The Star, 07/04/2021)


RESIDENSI SOLARIS PARQ MILESTONE

UEM Sunrise Bhd’s “Residensi Solaris Parq” is expected to enhance the attractiveness of Mont Kiara and Dutamas as the affluent address to aspire for, given the twin towers’ well-balanced design of luxury, nature and convenience. Following a topping up ceremony, the “Residensi Solaris Parq” serviced residences is slated for completion in 2Q22.

(The Star, 06/04/2021)


UDA HOLDINGS SET TO LAUNCH 38 BANGSAR IN 2Q21

UDA Holdings Bhd will be unveiling the 38 Bangsar serviced apartment project in Bangsar, Kuala Lumpur in 2Q21. Located in between Lorong Maarof and Jalan Bangsar Utama 1, the leasehold development comprises 281 units with its built-up ranging between 580 sq. ft. and 1,442 sq. ft., and prices ranging from RM758,000 to RM1.9 million.

(The Edge Property, 06/04/2021)


TRINITY GROUP TO LAUNCH PROJECTS WORTH RM1 BILLION

Trinity Group aims to roll out RM1 billion worth of new projects in 2022. With three upcoming property projects in the pipeline (two in Ampang North and one in Bandar Kinrara), the group is looking to expand its presence in additional locations in the Klang Valley, beyond its stronghold in Puchong and Bukit Jalil. Targeted for launch in July 2021, “Trinity Wellness” in Beverly Heights, Ampang North, is a condominium project situated on 3.9-acres of land with a strong focus on wellness and protection in terms of wellness features, smart design and efficient layouts. Two projects to be launched in 2022 include “Trinity Enlivea” in Ampang North and a mixed development in Bandar Kinrara.

(StarProperty, The Edge Property & NST, 08/04/2021; The Sun, 09/04/2021)


NEW ECURVE TO BECOME LANDMARK

Boustead Properties Bhd is embarking on a transformative journey that “will change the skyline of Mutiara Damansara” with the redevelopment of the 14-year-old eCurve. The redevelopment will encompass new exciting features complementing Curve, which will continue operating as the main neighbourhood mall in Mutiara Damansara.

(NST, 03/04/2021)


MAKING NEWS WITH GROWTH DRIVERS

MyNews Holdings Bhd aims to bank on the expansion of its outlets and potential brand tie-ups as it sees this as growth drivers in the wake of the revival of stiff competition in the retail space. Its latest brand tie-up with leading South Korean convenience store CU in 2020 would culminate in the opening of 30 to 50 CU outlets in 2021. The new CU Mart Malaysia @ Centerpoint Bandar Utama in Petaling Jaya was launched on 1st April 2021.

(The Star, 05/04/2021)


LULU GROUP OPENS THE THIRD HYPERMARKET IN MALAYSIA

Lulu Group has opened its third hypermarket in Setia City Mall, Selangor. The massive 150,000 sq. ft. store covers three floors and offers customers a pleasing environment to shop for the widest range of quality and value-for-money products from around the world. The retailer plans to open another five additional hypermarkets in different parts of Malaysia by the end of 2022.

(The Sun, 06/04/2021)


WATSONS OPENS THREE NEW STORES

Watsons Malaysia has opened a new store in Quayside Mall, Kota Kemuning and two new health concept stores located at SS15 Courtyard and Empire Shopping Gallery in Subang Jaya. The two new health concept stores promise a comprehensive shopping experience on health-related products, supplements and services.

(The Star, 06/04/2021)


GIANT STEP TO REVAMP IMAGE

GCH Retail (M) Sdn Bhd, which operates Giant hypermarkets in Malaysia, has spent approximately RM25 million to revamp its Giant outlets by offering thousands of new products. Another key change would be placing Guardian health and beauty care stores in 35 Giant stores by the end of April 2021. To date, Giant has a total of 57 stores nationwide. Despite the Covid-19 pandemic that has changed consumer behaviour, 10 small stores named Giant Mini will open in 2021, as the group’s strategy is to resize and develop small store formats, moving forward. The size of the new Giant Mini would be between 1,800 sq. ft. and 2,000 sq. ft. Under the group, small stores namely Giant Express and ShopSmart! will also be converted to Giant Mini.

(The Edge Property, 08/04/2021; The Star, 09/04/2021)


51-STOREY PROJECT TO BRING INCOME FOR ARMY VETERANS FOUNDATION

A 51-storey project on Lot 20008 near Jalan Tun Razak is a joint venture development between the Malaysian Army Veterans Foundation and Pasukhas Development Sdn Bhd. Slated to be completed by the end of 2023, the project comprises office space, commercial area and service apartments. Through this project, the foundation would receive returns in various forms including office space, 25 parking lots, a fully fitted multipurpose hall with a capacity of 420 people, a pre-function room, and RM2 million in cash.

(NST, 03/04/2021)


BUKIT JANA PROJECT TO COMMENCE IN 2021

A major residential and commercial development project at Bukit Jana in Kamunting is set to commence in 2021. Sprawling across 180 acres of land, the project comprises circa 2,000 houses and 40 commercial units. Slated to complete within six years, the residences would comprise 10% low-cost houses, 20% medium-cost and 20% affordable homes, with prices ranging between RM90,000 and RM250,000. The other 1,000 units will be open-priced, including double-storey houses priced at around RM450,000.

(The Star, 03/04/2021)


NEXGRAM PLANS RM1.6 BILLION MEDICAL COMPLEX IN MELAKA

Nexgram Holdings Bhd’s plans to develop a medical complex in Melaka. The company signed a memorandum of understanding with the Melaka State Development Corporation to acquire 24.6-acres of land in Bukit Baru which was earmarked for the development of the “Melaka Lifecare Specialist”. The mixed-use development comprises a hospital building, SOHO, a wellness centre, a bioscience research centre, and a three-star hotel and condotel.

(The Star, 03/04/2021)


KAB SECURES RM17.9 MILLION JOBS FOR MULTIBAY DEVELOPMENT

Kejuruteraan Asastera Bhd (KAB) has received two letters of appointment for a mixed development by Multibay Development Sdn Bhd, situated on Jalan Tun Razak, Kuala Lumpur for RM17.9 million. Package A involves electrical installation works for a 28-storey office block and a 60-storey condominium suite, while Package B entails electrical installation works for a 37-storey hotel. Both packages are expected to be completed by 31st October 2023.

(The Star & The Sun, 07/04/2021)


KIA PLANS TO MAKE MALAYSIA REGIONAL MANUFACTURING HUB

Kia Motors Corporation plans to set up its regional manufacturing hub in Malaysia as it recognises the country’s vast potential. The South Korean carmaker found it timely to raise the bar to progressively tap into Malaysia’s potential, as a joint venture agreement has been made between Kia Malaysia Sdn Bhd and Bermaz Auto Bhd.

(NST, 03/04/2021)


SUZUKI APPOINTS NAZA EASTERN AS DISTRIBUTOR

Naza Eastern Motors Sdn Bhd has been appointed as the distributor of new Suzuki cars in Malaysia. Suzuki’s first flagship 3S showroom will be in Naza Automall, Petaling Jaya. Inspired by the Suzuki “Way of Life!” motto, the showroom boasts more than 3,000 sq. ft. of space and will welcome customers with a bright and vibrant environment.

(The Star, 05/04/2021)


RUBBER GLOVE HUB CONSTRUCTION COMMENCES IN JUNE 2021

The construction of the rubber gloves and personal protective equipment hub by the World Gloves International Group City and Hub Development Sdn Bhd is set to commence in June 2021. To be located in the Gebeng industrial area, the hub will be constructed on 316.8-acres of land, involving an investment of RM100 million. Construction of the first phase is scheduled for completion in December 2021.

(The Star & NST, 07/04/2021)


NESTLE MALAYSIA OPENS FIRST PLANT-BASED MEALS PRODUCTION SITE

Nestlé Malaysia has invested RM150 million in a plant-based meal solutions manufacturing facility, the first in ASEAN and one of only two in Asia. Located within Nestlé’s existing Shah Alam Industrial Complex in Selangor, the new production site, with a built-up area of 64,583 sq. ft., has an annual production capacity of 8,000 tonnes and is equipped with the latest food processing machinery and highly automated packing lines.

(The Edge Markets, 07/04/2021; The Sun, NST & The Star, 08/04/2021)


VILLAGES TRANSFORMED INTO TOURIST ATTRACTIONS

Kampung Seberang Ramai is among several villages slated to be the next tourist attraction in Perlis. Under a village transformation programme, 184 houses will be turned into a new tourism product called “Rumah Pelangi” to attract tourists to the State. The other villages involved in the transformation programme include Kampung Baru Seberang, Kampung Tandiap, Kampung Hujung Tanjong, Kampung Tengah, Kampung Seberang Alor, Kampung Seberang Jaya and Kampung Pulau Ketam.

(The Sun & The Star, 05/04/2021)


HIGHER HOTEL OCCUPANCY RATES WITH TOURISM TRAVEL BETWEEN RMCO STATES

Occupancy rates in hotels nationwide that were recorded by the Ministry of Tourism, Arts and Culture, have increased by 24% since the Malaysian Government began allowing tourism travel between States placed under the Recovery Movement Control Order (RMCO) from 10th March 2021. Data from the Malaysian Association of Hotels also recorded an increasing trend of 33% in hotel occupancy rates during the school holiday in March 2021. Before tourism travel between RMCO States was allowed, hotel occupancy rates in January 2021 was circa 20% and February 2021 was 18%.

(The Edge Markets, 06/04/2021)


CONNECTCOUNTY SECURES RM128.9 MILLION CONTRACT

ConnectCounty Holdings Bhd has secured a RM128.91 million contract from Intan Medical Centre Sdn Bhd to develop a six-storey private medical centre in Alor Setar, Kedah. The contract will commence on 6th May 2021 and is scheduled to be completed by 5th May 2023.

(The Edge Markets, 06/04/2021 & The Star, 07/04/2021)


AL-AQAR TO EXTEND SIX HOSPITAL LEASES WITH KPJ

Al-Aqar Healthcare Real Estate Investment Trust has proposed to renew the leasing of its six hospitals with KPJ Healthcare Sdn Bhd for an additional 15 years. The six hospitals are KPJ Ampang Puteri Specialist Hospital, KPJ Damansara Specialist Hospital, KPJ Ipoh Specialist Hospital, KPJ Johor Specialist Hospital, KPJ Puteri Specialist Hospital and KPJ Selangor Specialist Hospital. Cumulatively, the assets were worth RM712 million as of January 2021, in terms of market value. The total gross rental for the first year of the renewed contractual term amounted to RM40.94 million, based on 5.75% of the open market value of the properties. For the second and third year, the rent would see a 2% incremental increase from the rent of the preceding year.

(The Star, 07/04/2021)


“OVERHANG” SITUATION IMPROVES IN 2020

The Malaysian residential property market saw a decline in the number of “overhanging” units in 2020, as transactions slowed down in 2020 due to the impact of the Covid-19 pandemic. The overall property sector recorded 295,968 transactions worth RM119.08 billion in 2020, which was a -9.9% year on year decline in volume and a -15.8% decline in value compared with 2019. Despite the weaker performance, the market is expected to perform better in 2021, underpinned by the national immunisation programme and numerous government incentives.

(The Edge Markets, 05/04/2021 & The Star, 06/04/2021)


COMPANIES INVITED TO DEVELOP TOURISM PRODUCTS IN PUTRAJAYA

Private companies are invited to participate in developing tourism products in Putrajaya by adding value to existing facilities or creating new tourism products. The Putrajaya Corporation has received proposals from several local companies to develop glamping products at Wetlands Park and selected companies are expected to begin construction works at the end of 2021. There were also proposals to develop a Safari Park on 160-acres of land in Precinct 19 with an estimated cost of RM500 million.

(The Edge Markets, 05/04/2021)


TACO BELL PLANS MORE OUTLETS IN URBAN AREAS

Taco Bell (Mexican-inspired American fast-food brand) officially opened its doors in Cyberjaya on 2nd April 2021. The Taco Bell Malaysia franchise operator plans to roll out Taco Bell in urban areas across Malaysia.

(NST, 09/04/2021)


MDEC WELCOMES 100TH MSC STATUS COMPANY FROM UK

The Malaysia Digital Economy Corp (MDEC) welcomed the 100th company from the UK to gain MSC Malaysia status, Clarivate, into Malaysia. Clarivate will establish its global business centre in Penang, thereby generating up to 200 new jobs in various digital tech roles. MDEC will continue to forge ahead with its mandate to attract more investments into the country via further collaborations with the UK Department for International Trade via the British High Commission Kuala Lumpur and with their partner organisation, the British-Malaysian Chamber of Commerce. To date, MSC Malaysia has attracted cumulative investments of RM345 billion, creating close to 185,000 jobs.

(The Sun & The Star, 09/04/2021)


DSR GROUP TO ACQUIRE MORE DURIAN ORCHARDS

DSR Group plans to expand its Musang King durian orchards to 500 acres by 2025. The expected acquisition costs would vary depending on various factors, some of which include the size of the orchard and terrain.

(NST, 07/04/2021)


IMBRT TO INCREASE PUBLIC TRANSPORT USAGE IN JOHOR

The Johor State Government is confident that the Iskandar Malaysia Rapid Transit Bus (IMBRT) project which is expected to begin operations in 2023 will be able to increase public transport usage in the State. The IMBRT emphasises system efficiency, effectiveness and affordability, low-cost maintenance and reasonable construction costs. By 2025, the transportation line coverage is expected to increase to 90% of the Iskandar Malaysia economic development area from the current 39%, thereby increasing the usage of public transport from 15% to 40%.

(The Edge Property, 08/04/2021 & The Star, 09/04/2021)


EKOVEST TO ACQUIRE LAND IN PULAI FOR RM944.62 MILLION

Ekovest Bhd has proposed to acquire 20 parcels of freehold land in Pulai, Johor Baru, measuring an aggregate of 96.27 acres, for a total consideration of RM944.62 million.

(The Edge Markets, 05/04/2021 & The Star, 06/04/2021)


TROPICANA PARTNERS WITH RAFFLES AMERICAN SCHOOL AND RAFFLES UNIVERSITY

Tropicana Corporation Bhd is pairing up with education provider Raffles Iskandar Sdn Bhd to offer exclusive rebates to local and international property purchasers in Johor, for the Raffles American School and Raffles University. The latest MOU with Raffles signifies a cross-collaboration via the pillar of education for their Southern Projects developments such as Tropicana Danga Bay and Tropicana Danga Cove in Iskandar Malaysia, and Tropicana Uplands in Gelang Patah, Johor.

(StarProperty, 08/04/2021)


JUBIN LAUNCHES LARGEST COMPLEX IN JOHOR BAHRU

Jubin BMS Sdn Bhd (tiles, stone mosaics and sanitary wares supplier and retailer) has launched its newly extended three-storey BMS Complex showroom in Tebrau 3, Johor Baru. Combined with its existing showroom space, the BMS Complex spans approximately 70,000 sq. ft. Jubin BMS currently has showrooms and outlets in 13 locations spread across Johor, Kuala Lumpur, Selangor, Negeri Sembilan and Sarawak.

(The Sun & The Star, 09/04/2021)


UNLEASHING THE POTENTIAL OF PENGERANG

The development of phase three of the Pengerang Deepwater Terminal is set to attract more refining and petrochemical companies apart from downstream petrochemical manufacturing plants. To date, 50% of the land in PDT has been developed with 500 acres available for future development.

(The Edge Markets, 05/04/2021; The Star & The Sun, 06/04/2021)


CHIP ENG SENG TO COLLABORATE ON K-12 INTERNATIONAL SCHOOL CAMPUS

CES Horizon Sdn Bhd (a subsidiary of Chip Eng Seng) has signed an agreement with Horizon Hills Development and Nusajaya Greens. Through the agreement, Horizon Hills will develop a built-to-suit campus within its development known as “Horizon Hills” in Iskandar Puteri, Johor Bahru. Upon delivery of the premises, CES Horizon will lease the premises and operate a K-12 (kindergarten to year 12) international school. Nusajaya Greens is the registered owner of the land on which the development sits on. Scheduled to deliver the first phase on 30th September 2022, the school will have a targeted capacity of up to 1,500 students and with 203,875 sq. ft. of space.

(The Edge Markets, 07/04/2021)


SCIENTEX ACQUIRES LANDS IN PENANG FOR RM246.67 MILLION

Scientex Bhd is acquiring three parcels of freehold agriculture land measuring 343 acres at Seberang Perai Utara, Penang for RM246.67 million.

(The Edge Markets, 05/04/2021 & The Star, 06/04/2021)


FIVE NEW WORK PACKAGES OF SABAH PAN BORNEO PROJECT

Five new work packages of the Sabah Pan Borneo Highway project are now under the tender process and would be finalised soon. With the five additional work packages, there are 16 packages at this stage for the Sabah Pan Borneo Highway project, with 11 of these being implemented and expected to be completed between 2022 and 2023. As of March 2021, 11 work packages of the Sabah Pan Borneo Highway project were already at 49% completion.

(The Edge Property, 08/04/2021)


STB WORKING WITH TOURISM MALAYSIA ON PROMOTIONAL ACTIVITIES

The Sabah Tourism Board (STB) is working with Tourism Malaysia to revitalise the tourism industry. For the domestic market, both agencies have plans to bring Sabah industry players to Penang and the Klang Valley for business-to-business sessions when interstate travel restrictions are lifted. As for the international market, STB maintains good relations with Tourism Malaysia offices in targeted markets, with several initiatives to be carried out even though international borders are still closed.

(NST, 06/04/2021)


IBRACO EXPANDS QUARRY OPERATION TO SERIAN, SARAWAK

Ibraco Bhd is expanding its quarry operation after securing a licence for new quarry land in Serian, Sarawak. Sekitar Gemilang Sdn Bhd (Ibraco’s subsidiary) has formed a joint venture with Kebajikan Anak-Anak Yatim Sarawak Charitable Trust to operate the new quarry measuring circa 247 acres at Gunung Sinmajau, Serian-Tebedu.

(The Star, 05/04/2021)


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