ECERDC ATTRACTS RM9.5 BILLION IN COMMITTED INVESTMENTS TO PAHANG IN 1H21

The Federal Government through the East Coast Economic Region Development Council (ECERDC) has successfully attracted a total of RM9.5 billion in committed investments to Pahang in 1H21. The committed investments exceeded the targeted RM5.1 billion for the year 2021. With the committed investment, it is anticipated to create  more than  6,700 new jobs and 170 entrepreneurial opportunities for the rakyat in Pahang. ECERDC noted that through the collaboration with Malaysian Green Technology Corporation (MGTC), SIRIM and Asia Center of Excellence for Smart Technologies (ACES), it would position the Pekan Automotive Park (PAP) as a “Green Automotive Industrial Park” and is expected to attract new investments in the manufacturing of Electric Vehicles (EV). In the meantime, ECERDC is maintaining its focus on boosting economic growth in Pahang Barat through agriculture and tourism activities, whereby the Pahang State government has identified suitable land for the ECER Dairy Valley project in order to raise the country’s Self-Sufficiency Level (SSL) of fresh milk by 40%.

(The Edge, 06/08/2021)


KULIM AIRPORT TO BE HUB FOR HAJ, UMRAH FLIGHTS

The Kulim International Airport is expected to be an aviation hub for haj and umrah flights, especially for residents in the northern region of Peninsular Malaysia, in addition to its key role as a cargo hub. The Menteri Besar of Kedah denoted that the offer of flight services to the holy land will be good news for the people of Kedah and other States in the northern region. To ensure that the airport materialises in the next five years, the State Government has signed a joint-venture agreement with ECK Group for the setting up of a Special Purpose Vehicle (SPV), which will be the project’s owner and developer. The first phase of the project, costing RM6 billion including land acquisition, would begin in the near term and would lead to several other projects including a major infrastructure development known as the Northern Corridor Highway linking Bandar Baharu and Sungai Petani via the airport. The airport is expected to be completed by 2026 and will bring significant changes to Kedah’s economic landscape as it will play a key role in the development of several branches of the regional aviation industry and serve as a halal and e- commerce industry hub for the Asean region. The airport is expected to contribute a gross national income of RM1.19 billion in 2026 and is set to provide between 15,000 and 18,000 jobs.

(The Sun, 03/08/2021)


TROPICANA OFFERS UP TO 50% REBATES FOR COMPLETED PROPERTIES

Tropicana Corp Bhd is offering up to 50% rebates for its completed residential and commercial properties in the Klang Valley, Penang, Johor, and Kota Kinabalu. It is also offering additional incentives to potential buyers such as zero down payment, 100% financing with Maybank Islamic’s HouzKEY programme and free maintenance of up to 10 years. These incentives come under its Tropicana FreeDOM campaign which is specially curated for completed properties across Malaysia and offers big savings on move-in-ready units. The participating projects include Paisley serviced residences at Tropicana Metropark, Subang Jaya; Dalia Residences at Tropicana Aman, Kota Kemuning; Bayan linked villas, Cheria semi-detached houses, Aman 1 serviced apartments, and Triana shop offices at Tropicana Aman, Kota Kemuning; Lakefield linked villas at Tropicana Heights, Kajang; Tropicana Residences in Kuala Lumpur; and Oasis 2 & 3 shop offices at Tropicana Danga Cove, Johor.

(NST, 05/08/2021)


IVORY PROPERTIES TO JOINTLY DEVELOP RESIDENTIAL PROPERTIES IN KEDAH

Ivory Properties Group Bhd has teamed up with ECK Development Sdn Bhd to jointly develop residential components at AirportCity and Aerotropolis in Kedah. The Penang-based property developer has entered into a binding term sheet with ECK for the venture on a land measuring 135 acres. ECK has in principle been appointed by the Kedah State Government as an investor and to be involved in the proposed development of Kulim International Airport (KXP), AirportCity and Aerotropolis in Sidam Kiri in Kedah’s Kuala Muda district.

(The Edge, The Star & NST, 02/08/2021)


SUNWAY MALLS FACILITATING UP TO RM200 MILLION IN WORKING CAPITAL TO ASSIST RETAILERS AS PANDEMIC CREATES ‘CASH-FLOW CRUNCH’

Sunway Malls announced today that it is facilitating up to RM200 million in working capital to assist its retailers through financing facilities provided by RHB Banking Group and Credit Guarantee Corporation Malaysia Bhd (CGC). The financing facilities, as part of the Sunway Malls SME Retailers Relief Financing Programme, will be made available to the mall group’s retailers across seven malls. Under this scheme, Sunway Malls denoted that the qualified retailers under Sunway Malls can apply for RHB financing facilities of up to RM500,000 with a loan tenure of seven years, where up to 80% of the principal financing amount is guaranteed by CGC. The programme will also incorporate an option for an overdraft facility of up to 30% of the financing limit with one of the lowest interest rates in the market. Through these financing facilities that are provided by RHB and guaranteed by CGC, retailers will receive the crucial working capital needed to support their business survivability during the various stages of the MCO (Movement Control Order) imposed, resulting from the prolonged Covid-19 pandemic.

(The Edge, The Star & NST, 02/08/2021)


MARA WAIVES BUSINESS PREMISES’ RENTAL PAYMENTS FOR 3 MONTHS

Majlis Amanah Rakyat (MARA) is implementing a three-month rental exemption for all of its business premises tenants from July until September 2021, as well as a 30% discount on rent payments from October to December 2021. The initiative, worth RM14.89 million, is expected to benefit 5,913 tenants. The move was made to assist entrepreneurs affected by the Covid-19 pandemic while supporting the government’s efforts under the National People’s Well-Being and Economic Recovery Package (PEMULIH).

(The Edge, 06/08/2021)


OCR TO LAUNCH SHAH ALAM AND KL PROJECTS IN 2022

OCR Group Bhd targets to launch its largest property development in Selangor with a Gross Development Value (GDV) of at least RM750 million in 1Q22. The 10.89-hectare project in Shah Alam includes 2,892 affordable housing units along with retail spaces and is expected to be completed by 2026. OCR aims to launch its Urban Living project in Jalan Alor, Kuala Lumpur in 2022, as it is marketed towards the young and home upgraders who seek chic and modern city- living lifestyles in strategic locations. The 0.13-hectare development comprises a 10-storey Small Office Home Office (SOHO) development comprising 120 SOHO units and eight retail lots which are slated for completion in 2025.

(The Edge, The Star & NST, 02/08/2021)


NEXGRAM EYES STRATEGIC PARTNERS FOR ITS MEDICAL COMPLEX IN MELAKA

Nexgram Holdings Bhd will target strategic partners to help develop the medical components at its Melaka Lifecare Specialist complex in Melaka. The medical side of the complex will feature a hospital, a health scan and bioscience centre, a wellness bioscience research centre, and an international molecule research laboratory. It will also have a three or four-star hotel, a condotel, a Shop-Office Home-Office (SOHO), a retirement village, and other tourism-related products. This will be the first of its kind development concept for Melaka and it will promote medical tourism and cater to Malaysia My Second Home. It will take at least six years to develop the whole project, which has an estimated gross development value of RM1.6 billion. Nexgram’s wholly owned subsidiary, Nexgram Biomedic Sdn Bhd, is acquiring a 25-acre piece of leasehold land from Melaka State Development Corporation for RM61.53 million for the project. Both parties had signed the sales and purchase agreement on 1st July 2021. The land is located in Melaka Tengah, nearby the Royal Malaysian Police.

(NST, 05/08/2021)


IMPIANA HOTELS SECURES JOB TO MANAGE PETRONAS’ LEADERSHIP CENTRE FOR FIVE YEARS

Impiana Hotels Bhd has secured a five-year contract to manage operational matters of the Petronas Leadership Centre in Bangi, Selangor. The regional hospitality operator denoted that its subsidiary Impiana Hotels & Resorts Management Sdn Bhd (IHRM) has received a Letter of Award (LoA) from Petronas Management Training Sdn Bhd (PMTSB), a wholly owned subsidiary of Petroliam Nasional Bhd (Petronas) for the contract. The scope of works includes general and administration matters, food and beverage services, housekeeping, room and banqueting services, finance and human resources management as well as other hospitality works. The contract had commenced from 1st August 2021.

(NST, The Edge, The Sun & The Star, 05/08/2021)


SIM LEISURE PARTNERS WITH HEKTAR MUDA TO DEVELOP RM100 MILLION ESCAPE CAMERON HIGHLANDS

Singapore-listed theme park developer and operator Sim Leisure Group has partnered with Hektar Muda Sdn Bhd to develop a theme park development in Cameron Highlands, Pahang, worth RM100 million. The theme park development named ESCAPE Cameron Highlands is sited on a 60-acre plot with an elevation of 220m in Habu, Cameron Highlands, and construction of the first phase will commence in December 2021. Hektar Muda is the landowner while Sim Leisure will design, build, operate, manage and maintain the theme park. The initial development of the theme park will cost RM15 million and will be developed over three to four phases. The first phase is expected to be completed and open to the public in 1H23. The theme park will be divided into five different European villages with the Iberian at the lowest zone; British Isle, Balkan and Nordic in the mid-zone; and Alpine regions at the top.

(The Edge, The Star & NST, 02/08/2021)


LEON FUAT BUYS LAND IN PORT KLANG TO EXPAND STEEL MANUFACTURING BUSINESS

Leon Fuat Bhd is acquiring a leasehold industrial land in Port Klang for RM20.43 million to expand its welded steel pipe manufacturing activities. The 27,108 sq. m. (6.70 acre) land is located less than 500 metres from the group’s existing welded steel pipe manufacturing plant in Kawasan Perusahaan Bandar Suleiman. The land is currently owned by Irama Utama Sdn Bhd and will be used as additional storage space for steel pipe finished products.

(The Edge, The Star & NST, 31/07/2021)


FREIGHT MANAGEMENT BUYS KLANG LAND FOR RM57 MILLION FOR WAREHOUSING AND DISTRIBUTIONS SERVICE EXPANSION

Freight Management Holdings Bhd is buying two pieces of vacant industrial land in Klang for RM56.84 million. The freehold land, measuring 4.67 acres, will be used for the expansion of its third-party logistics warehousing and distribution services, which include e-commerce fulfilment and parcel delivery services. The vendor of the land is Cebur Megah Development Sdn Bhd, a wholly owned unit of Astacanggih Sdn Bhd, whose ultimate holding company is Boustead Properties Bhd.

(The Edge, The Star & NST, 02/08/2021)


DFCITY TO BUILD INDUSTRIAL LOTS IN KLANG TO BOOST ITS EARNING POTENTIAL

DFCity Group Bhd (formerly known as Hock Heng Stone Industries Bhd) will undertake an industrial development in Klang, Selangor in a bid to enhance its earnings stream via its property development segment. The company will develop the project in a Joint Venture (JV) with the landowner, TL Group Resources Sdn Bhd. DFCity’s wholly owned subsidiary Hock Heng Realty Sdn Bhd has entered into a Joint Venture Agreement (JVA) with TL Group to develop the land with 21 factory lots and infrastructure.

(NST, 04/08/2021)


JKR STARTS PROJECT TO REPAIR ROAD

The Public Works Department (JKR) is spending RM123,000 to repair a 100m stretch at Diamond Valley Industrial Park in Batu Maung, Penang. The project at Lintang Beringin 10, which also involves drainage clearance, began on 18th July 2021 and is expected to be completed by the middle of August 2021.

(The Star, 02/08/2021)


HUNZA’S AFFORDABLE HOUSING PROJECT TO BE COMPLETED BEFORE END OF 2022

Hunza Properties Bhd’s first affordable housing project, TreeO, is expected to be completed by 2022. The project’s construction on a 9.7-acre land in Sungai Ara has been ongoing since around 2018, but completion has been delayed due to the Covid-19 pandemic and the various stages of the Movement Control Order (MCO). Construction has mostly been ongoing throughout the years, except during the earlier stages of MCO 1.0 and Phase 1 of the full MCO. The progress has however slowed down due to compliance with strict regulations throughout the various phases of MCO. TreeO features three multi-storey towers comprising 1,240 housing units, with each one measuring 900 sq. ft. and equipped with individual balconies, three bedrooms and two bathrooms.

(The Star, 02/08/2021)


EXSIM: EXPANDING BEYOND THE KLANG VALLEY

Exsim Group plans to set foot in Penang with the launch of 22 Macalisterz in 2021, which is a serviced apartment project located on 1.2 acres of land along Jalan Macalister. This will be the first property project for the developer outside the Klang Valley. 22 Macalisterz comprises 418 units of serviced apartments selling from RM491,900 to RM744,000 and is targeted to launch in the current quarter.

(NST, 04/08/2021)


LAM RESEARCH LAUNCHES PENANG FACILITY WITH AN INVESTMENT OF RM1 BILLION

Lam Research Corporation, a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry, has officially launched its facility in Batu Kawan, Penang, with an investment of RM1 billion. The manufacturing plant at Batu Kawan Industrial Park will have floor space of 800,000 sq. ft., which is 100,000 sq. ft. more than what was previously planned. The manufacturing facility will serve as the hub for Lam Manufacturing’s operations in Asia and is expected to ramp up production to become the highest volume manufacturing facility among the group’s global sites.

(The Sun, 04/08/2021)


NESTCON AWARDED RM25 MILLION ROADWORKS SUBCONTRACT

Nestcon Bhd has secured a subcontract in relation to the construction of an access road connecting to Sungai Pulai Bridge for the proposed Petrochemical & Maritime Industry Centre development in Tanjung Bin, Pontian, Johor. The job was awarded to its wholly owned subsidiary Nestcon Infra Sdn Bhd by MMC Engineering Sdn Bhd. The subcontract commences on 2nd August 2021 and is expected to be completed by 31st May 2022.

(The Edge, The Star & NST, 02/08/2021)


GUOCOLAND TO SET NEW BENCHMARK WITH NEW PROJECT AT LENTOR CENTRAL TO LAUNCH IN 2H22

Guocoland has been awarded a 99-year leasehold site at Lentor Central with a bid of $784.1 million (RM2.45 billion) and it will be developing the site into a mixed-use development with three 25-storey towers of 600 residential units, with a double-volume sky terrace in each tower. The 186,000 sq. ft. site has a Gross Floor Area (GFA) of 651,007 sq. ft., whereby the ground floor will have 96,000 sq. ft. of commercial, F&B and retail space, including a supermarket and childcare facilities. The development will be integrated with the upcoming Lentor MRT station on the Thomson-East Coast Line, which is scheduled to be operational by the end of August this year. The new development is expected to be launched sometime in 2H22.

(The Edge, The Star & NST, 02/08/2021)


+603-21612522      

All rights reserved (C) 2019

Jones Lang Wootton