188 CONSTRUCTION SITES ORDERED TO CLOSE FOR SOP VIOLATIONS
A total of 188 of the 810 construction sites operating nationwide after the total lockdown was enforced on 1st June 2021, were ordered to close for breaching Standard Operating Procedures (SOP), according to the Construction Industry Development Board (CIDB). As a result of 4,208 inspections conducted on these construction sites, it was found that 3,398 sites were not operating, while another 810 were still operating. Of the 810, a total of 188 or 23% of the construction sites were found not complying with the SOPs and were ordered to close, while the remaining 77% complied with the SOPs. Overall, 56 construction sites were ordered to shut in Sarawak, followed by 42 in Selangor, 15 in Melaka, 11 each in Sabah, Penang and Kuala Lumpur, 9 in Johor, 8 in Negeri Sembilan, 6 each in Terengganu and Pahang, 5 in Perak, 3 each in Kedah and Perlis, and 2 in Kelantan.
(The Edge, 07/07/2021)
BNM MAINTAINS OPR AT 1.75%
Bank Negara Malaysia (BNM) has kept the Overnight Policy Rate (OPR) unchanged at 1.75% following the Monetary Policy Committee (MPC) meeting, as the global economy strengthens due to improvements in manufacturing and services activities. However, the pace of recovery varies across countries as denoted by the central bank, pointing out that economies making better progress in their vaccination programmes have been able to ease containment measures, thereby enabling swift recovery in domestic activity.
(The Edge, 08/07/2021)
UNEMPLOYMENT EASES IN MAY 2021 BUT RECOVERY UNEVEN DUE TO PANDEMIC
Malaysia’s unemployment rate improved in May 2021 but the Enhanced Movement Control Order (EMCO) due to the Covid-19 pandemic could result in an uneven situation in the ensuing months. The Statistics Department of Malaysia denoted that the country’s unemployment in May 2021 was 4.5% or 728,100 people, an improvement from the all-time high of 5.3% or 826,100 unemployed persons a year ago. In April 2021, the unemployment rate was marginally higher at a figure of 4.6% with 742,700 unemployed, whereby employed persons in May 2021 increased by 0.1% to
15.37 million persons (April 2021: 15.35 million persons). By economic sector, the number of employed persons in the services sector posted a month on month increase particularly in wholesale & retail trade; food & beverages services and human health & social work activities.
(The Star, 09/07/2021)
DASH SUB-CONTRACTORS SEEK RM100 MILLION DUE PAYMENT
Melima Consortium, a group of four sub-contractors appointed to rescue portions of the Damansara-Shah Alam Elevated Expressway (DASH) CA4 construction project, is claiming RM100 million from the project’s turnkey contractor Turnpike Synergy Sdn Bhd. This follows a legal dispute between Turnpike and the main contractor of the project, Panzana Enterprise Sdn Bhd (Panzana). Melima also denoted that it was forced to bring construction works to a halt in March 2021 when Turnpike, which is a member of the Prolintas group of companies, terminated their contract with Panzana.
TROPICANA ROLLS OUT ITS T.LIVING HOME CUSTOMISATION CONCEPT FOR FREESIA RESIDENCES
Tropicana Corp Bhd is unveiling its first bespoke home personalisation series called T.Living, which is currently being rolled out for Freesia Residences, located within Tropicana Aman in Kota Kemuning. The T.Living home customisation concept of “Your Home, Your Choice” offers customised choices ranging from colour palettes of walls and floorings, sanitary ware fitting designs, home security systems, and smart home features. Freesia Residences comprises two- storey lake and park villas offering 5+1 bedrooms and bungalow-style living. The villas offer built- ups ranging between 3,769 sq. ft. and 5,354 sq. ft., which are priced from RM1.85 million.
IJM LAND’S RIMBUN AMAN 50% BOOKED
IJM Land Bhd’s Rimbun Aman at Seremban 2 Heights in its Seremban 2 Township in Negeri Sembilan has achieved a 50% booking rate since its launch on 29th May 2021. Sitting on a 42- acre freehold parcel, Rimbun Aman will comprise 304 single-storey terraced houses with a total gross development value of RM125 million. The houses will have land sizes of 20ft by 60ft, 20ft by 65ft or 22ft by 65ft, with prices starting from RM350,000. Buyers will have zero entry costs to bear, as all entry costs such as legal fees, stamp duty on sale and purchase agreements and loans, are borne by the developer.
(The Edge, 06/07/2021)
SUNWAY PROPERTY REVISES SALES TARGET UPWARDS TO RM2.2 BILLION
Sunway Property announced an upward revision of its property sales target to RM2.2 billion from its previously set target of RM1.6 billion in January 2021, following higher contribution from its overseas projects. In Singapore, the developer recorded sales in excess of RM1 billion mainly attributable to the successful launches of Ki Residences, a private condominium in Clementi and Parc Central, an executive condominium in Tampines, whereby the projects recorded sales rates of 55% and 80%, respectively. In Malaysia, the developer has brought forward the launch of Sunway Belfield’s second tower, which has a Gross Development Value (GDV) of RM360 million, due to strong interest. The project’s first tower, which has a GDV of RM330 million, is almost fully sold since its launch in January 2021 and the overall sales rate for both towers at Sunway Belfield is approximately 75%.
(The Star, The Edge & NST, 08/07/2021)
MEDIA PRIMA REPURCHASES BANGSAR HEADQUARTERS FROM PNB FOR RM156.4 MILLION
Media Prima Bhd is paying RM156.4 million to buy back Balai Berita Bangsar, one of two properties it sold to Permodalan Nasional Bhd (PNB) for RM280 million in 2018. Media Prima denoted that it had received a letter of offer from PNB’s wholly owned subsidiary, PNB Development Sdn Bhd, to acquire the building as well as the two parcels of freehold land, which measure approximately 151,814 sq. ft.
(The Star & The Edge, 03/07/2021)
INCOME FROM E-COMMERCE TRANSACTIONS UP 30% Y-O-Y IN 1Q21
In 1Q21, income from e-commerce transactions surged 30% year on year to RM254.6 billion, from RM195.9 billion in 1Q20, according to the Department of Statistics Malaysia. In 2020, income from e-commerce rose 32.7% to RM896.4 billion compared with 2019.
(The Edge, 07/07/2021)
AUTOMATIC SIX-MONTH MORATORIUM BEGINS 7TH JULY 2021
The six-month moratorium for all individuals, micro-enterprises and affected small and medium enterprises (SMEs) begins 7th July 2021, according to Bank Negara. Opting in for the moratorium or any other repayment packages will be fairly simple with no need for borrowers to provide supporting documentation, as approval will be given automatically. The moratorium was in line with the National People’s Well-Being and Economic Recovery Package (PEMULIH 2021). In addition to the moratorium, banks will also offer a reduction in instalments and other packages, including to reschedule and restructure financing to suit the specific financial circumstances of borrowers.
(The Star, NST, The Edge & The Sun, 07/07/2021)
HATTEN LAND SELLS MELAKA LAND FOR RM25.8 MILLION
Hatten Land’s wholly owned subsidiary Prolific Revenue has entered into a sale and purchase agreement to sell land in Melaka for a cash consideration of RM25.8 million. The leasehold vacant land measuring 9.3 acres was originally slated to be developed into an integrated mixed development that would have comprised a shopping mall, cineplex, convention hall and auditorium, meeting rooms, a hotel block and a serviced apartment block. However, as of 7th July 2021, the project had yet to commence. Given the disposal, Hatten Land denoted that it will no longer be proceeding with the project and the land is being sold to WeBest Sdn Bhd.
(The Star & The Edge, 08/07/2021)
GUOCOLAND TARGETS RM550 MILLION SALES FROM ITS LATEST MARKETING CAMPAIGN
GuocoLand Malaysia (GLM) Bhd, the property arm of Hong Leong Group targets to achieve RM550 million in property sales from BEST4U (Buy with Ease, Save & Treasure), its latest marketing campaign to drive homeownership. BEST4U was launched in conjunction with the extension of the Home Ownership Campaign (HOC) till 31st December 2021, with the aim to get more people to own a home with easy payment schemes and attractive packages. The BEST4U campaign is valid for six participating projects including DC Residensi in Damansara Heights; The Oval, Kuala Lumpur; Emerald 9 in Cheras; Emerald Hills in Alam Damai; Emerald Rawang; and Emerald Sepang.
UEM SUNRISE SELLS JOHOR LAND FOR RM45.1 MILLION
UEM Sunrise is selling approximately 431 acres of freehold agricultural land in Mersing, Johor, to Lagenda Properties Bhd for RM45.1 million. The deal comprises three parcels of land, each measuring 92.7 acres, 120.7 acres and 217.7 acres, respectively.
(The Star, 03/07/2021)
GRAND HOOVER AWARDED RM55.97 MILLION CONSTRUCTION JOBS
Grand Hoover Bhd’s wholly owned unit Pembinaan ATT Sdn Bhd has accepted two construction contracts worth RM55.97 million from Pembinaan Tetap Teguh Sdn Bhd, after being appointed as the main contractor for relevant construction projects. The jobs include proposed earthworks for Phase 1 at Pontian, Johor for Tropicana Industrial Park Sdn Bhd (RM36.83 million) and the proposed site clearance, earthworks and retaining walls (Phase 2) for a commercial and residential development in Pontian, Johor for Messrs Tropicana GP Views Sdn Bhd (RM19.14 million).
(The Sun & The Edge, 07/07/2021)
KUMPULAN PERANGSANG SELANGOR SELLS THREE PROPERTIES FOR RM22.5 MILLION
Kumpulan Perangsang Selangor Bhd (KPS) has disposed of three properties in Johor for RM22.5 million. The Group’s wholly owned subsidiary Toyoplas Manufacturing (Malaysia) Sdn Bhd (TMM) has disposed of three parcels of leasehold land together with their factories to Wiley Development Sdn Bhd.
(The Star & The Edge, 08/07/2021)
MBSP: PROPOSED LINE DROPPED FROM 2030 SEBERANG PRAI LOCAL PLAN DRAFT
A last-minute change in the Draft 2030 Seberang Prai Local Plan saw the removal of a rail link connecting Butterworth to the proposed Kulim airport. The Seberang Prai Mayor denoted that the Seberang Prai City Council (MBSP) had no powers to suggest the proposed rail link to another State. The council had merely laid out future land use plans for the next 10 years in its development plan. The proposed rail link which was displayed on 2nd July 2021, connects Penang Sentral, Butterworth’s transport hub, with stops in Bukit Mertajam and Kulim and going north, to the Kulim airport at Sidam Kiri. There are also plans for the construction of a Light Rail Transit line to run parallel with Penang Bridge from Jelutong and ending at Penang Sentral.
The MBSP town planning consultant denoted that new ferry services are expected to be introduced from the island to the mainland. Two new ferry terminals will be built near Queensbay in Bayan Lepas and another at ‘Gurney Quay’ which is expected to be located at the Gurney Wharf area with fast ferries taking passengers to Penang Sentral. By 2030, 13 new bus lines are expected to be introduced, with an average waiting time of 15 to 20 minutes, complemented by more feeder buses and ‘park and ride’ facilities which are to be expanded and built. Three new development hubs would be introduced including Greater Butterworth, Kepala Batas-Bertam and Bandar Cassia-Simpang Ampat, which will have high tech parks, logistic hubs and transit-oriented development.
(The Star, 09/07/2021)
WCT-CCCC JV TO UNDERTAKE RM899.81 MILLION EXPANSION OF SAPANGAR PORT
WCT Holdings Bhd’s 60:40 joint venture (JV) with China Communications Construction Co (M) Sdn Bhd (CCCC) has accepted a tender offer as the main contractor for the expansion of Sapangar Bay Container Port in Kota Kinabalu for RM899.81 million. The WCT-CCCC JV has executed a letter of acceptance dated 2nd July 2021 issued by the Malaysian Government as represented by the Sabah Economic Development and Investment Authority (SEDIA). The contract is expected to commence in September 2021, and is to be completed in February 2025.
(The Edge & The Star, 09/07/2021)