MALAYSIA’S TRADE EXPANDS TO RM238.17 BILLION IN NOVEMBER 2022

Malaysia’s trade continued its stellar performance and maintained an upward trajectory in November 2022, expanding by 15.6% to RM238.17 billion compared with November 2021. Exports rose by 15.6% to RM130.24 billion, while imports and trade surplus increased by 15.6% to RM107.93 billion and RM22.3 billion, respectively.

(The Edge Markets, 19/12/2022 & The Sun, 20/12/2022)


MALAYSIA’S 2022 GDP GROWTH LIKELY TO BEAT FORECAST

Malaysia’s gross domestic product (GDP) growth for 2022 is very likely to exceed the earlier projection of between 6.5% and 7%. The sentiment remains positive at the end of 2022 with encouraging economic performance following the reopening of the economy amid the transition to the Covid-19 endemic phase.

(The Edge Markets, 20/12/2022; The Star & The Sun, 21/12/2022)


LEFORM ACCEPTS RM10 MILLION WEST COAST EXPRESSWAY JOB 

Leform Bhd has received a letter of acceptance from Ganda Imbuhan Sdn Bhd as a subcontractor for the supply and installation of guard rails for a portion of the West Coast Expressway. The RM10.05 million subcontract includes Section 6 between the Kapar interchange and the Assam Jawa interchange in Selangor and is expected to be completed on 30th June 2023. 

(The Edge Markets, 19/12/2022)


TRANSPORT MINISTRY REVIEWING FIVE PROJECTS WORTH ALMOST RM650 MILLION 

The Ministry of Transport has agreed to review five development projects with a total contract value of almost RM650 million so that they could be implemented via open or restricted tender. The development projects involved include Stabilisation and Slope Re-Profile Works along the Pahang Railway Tracks (Mentakab-Merapoh) and Kelantan Railway Tracks (Gua Musang-Tumpat). Also affected are the Appointment of an Independent Checking Consultant for the Klang Valley Double Tracking Upgrading Project Phase 2, East Coast Tracks — Rehabilitation of Gua Musang-Tumpat Tracks and Repairs for Flood Damage (Package C); East Coast Tracks – Gemas-Mentakab Track Repairs and Upgrading (Package A).

(The Edge Markets, 20/12/2022)


KAWAN FOOD CANCELS PLANS TO PURCHASE SELANGOR LAND PLOTS 

Kawan Food Bhd has cancelled its plan to acquire five parcels of land measuring 7.08 acres in Shah Alam, Selangor for RM50.46 million, as the vendor who was in the midst of acquiring two of the plots from Perbadanan Kemajuan Negeri Selangor (PKNS) had failed to get PKNS’ agreement to dispose of the plots. Kawan Food signed a Sale and Purchase Agreement (SPA) with RGP Warehouse Solutions Sdn Bhd to acquire three parcels totalling 4.07 acres for RM28.94 million (RGP lots), and the two plots under PKNS for RM21.52 million (PKNS lots) measuring 3.01 acres in April 2022, to build its second manufacturing plant.

The SPA was conditional upon i) the vendor obtaining the State Authority’s consent to transfer the RGP lots to Kawan Food, and ii) RGP signing a SPA with PKNS for the sale of the PKNS lots to RGP so that RGP could transfer it to Kawan Food. Despite reasonable efforts being made to fulfil these conditions precedent, only condition (i) was met but as of to-date, condition (ii) was not met. In view of the limited land size of the RGP lots without the PKNS lots, it is not cost-effective for KFMSB to purchase only the RGP lots.

(The Edge Markets, 19/11/2022)


SHAH ALAM TOWNSHIP LAUNCHES COMMERCIAL HUB 

Sime Darby Property has launched its lifestyle-centric commercial centre in its “City of Elmina” township in Shah Alam, Selangor. “Temu” comprises 70 units of two and three-storey shopoffices offering built-ups ranging between 3,074 sq. ft. and 7,753 sq. ft. The commercial centre has to date, confirmed several key tenants, including The Coffee Bean & Tea Leaf, Pizza Hut, FamilyMart, Miami Chicken, Klinik RH Medic, R Pharmacy and WLH Grocer, which will be operating a hypermarket chain on 1 acre of land.

(The Star, 17/12/2022)


SPECTRUM OPENS SOUTHEAST ASIA FLAGSHIP STORE IN KUALA LUMPUR

Eslite Spectrum (Taiwan’s mega bookstore chain) has opened its first flagship store in Southeast Asia at The Starhill, Kuala Lumpur. In addition to reading experiences, Eslite Spectrum Kuala Lumpur offers cultural products, lifestyle trends, art exhibitions and performances as well as food and coffee under one roof.

(The Sun, 19/12/2022)


RETAIL INDUSTRY EXPECTED TO GROW BY 3.5% IN 2023 

Retail Group Malaysia (RGM) forecasts a growth rate of 3.5% for the retail industry in 2023. Nevertheless, the biggest challenge for Malaysia’s retail industry in 2023 will be the rising cost of living.

(The Edge Markets, 19/12/2022)


M ASTRA OPENS SECOND TOWER FOR SALE AFTER STRONG RESPONSE

Mah Sing Group Bhd announced a 95% sale rate of its 806-unit Tower B in “M Astra” in Setapak, Kuala Lumpur, after the official launch on 17th December 2022. Priced from RM399,000, the mixed development comprises two blocks of serviced suites that come with three and four bedroom units and built-ups ranging between 850 sq. ft. and 1,044 sq. ft. There are also 24 retail lots with plans to accommodate drive-through food and beverage outlets. The retail shops are 100% sold and confirmed tenants include Coffee Bean and Tea Leaf, and Jollibee.

(The Edge Markets, 19/12/2022 & StarProperty, 21/12/2022)


VINDA SEA OPENS NEW REGIONAL HUB IN SELANGOR 

Vinda Southeast Asia (a unit of Hong Kong-listed Vinda International Holdings Ltd) has opened its new regional hub at a 30 acres site in Bandar Bukit Raja, Selangor. The hub comprises a double storey manufacturing plant with raw material warehouse, an automated finished goods warehouse, a distribution centre, the Vinda Innovation Centre and a management block.

(NST, 17/12/2022)


RM20 MILLION ATTRACTION IN MALACCA OPENS

The RM20 million Malaysia Heritage Studios at Taman Mini Malaysia in Ayer Keroh is now open to visitors. A total of 13 houses representing the States of Malaysia were restored and upgraded according to each state’s theme or elements of culture and heritage, using various technologies and new approaches.

(The Sun, 20/12/2022)


MALAYSIA’S AIR PASSENGER TRAFFIC HITS POST PANDEMIC PEAK

Total air passenger traffic peaked in 3Q22 at 15.6 million, reaching its highest point since the start of the Covid-19 pandemic, on the back of a low base effect and the reopening of Malaysia’s international borders in April 2022. Passenger traffic grew by a robust 1,434.3% year on year, while domestic and international passenger traffic reached 71.3% and 38.6% of pre pandemic levels, respectively, which represented an overall 55.9% recovery based on 3Q19. This improvement brings the passenger traffic number in the first 10 months of 2022 to 42.2 million, surpassing the passenger traffic figures in 2020 and 2021 combined.

(The Sun & The Star, 20/12/2022)


MAHB RECORDS 5.2 MILLION DOMESTIC PASSENGER MOVEMENTS IN NOVEMBER 2022

Malaysia Airports Holdings Bhd (MAHB) recorded 5.2 million passenger movements for its 39 airports in the Country in November 2022, reaching 60% of what was posted in November 2019, before the Covid-19 outbreak in 2020. This was more than double the 2.3 million passenger movements recorded in November 2021.

Airports in Malaysia recorded 2.9 million domestic passenger movements in November 2022, despite November being a typically slower month. The 15th general election, which took place on Nov 19, contributed to the domestic traffic surge of 11.8% in the third week of November against the second week of the month, with an average daily passenger of 106,000 as voters travelled to cast their votes. Malaysia’s international passenger movement volume also continued to recover in November 2022, recording 2.2 million, a significant increase from the 150,000 seen in November 2021, when international borders had yet to reopen.

(The Edge Markets, 20/12/2022 & NST, 21/12/2022)


RM2 BILLION EDUCATION CITY TO BE BUILT IN MALACCA 

The Eight Developing Countries Education City (D-8 Education City), involving an investment worth over RM2 billion, will be developed in Taboh Naning here in the next 15 years. Located on 370 acres of land, the D-8 Education City focuses on the development of Islamic-based education. The first phase of the D-8 Education City is in progress and is expected to be completed within five years.

(The Sun, 19/12/2022)


JOHOR-BASED MEMORIAL PARK PLANS EXPANSION TO SELANGOR 

Perpetual Memorial Park Bhd plans to expand its presence in Johor and the Klang Valley by opening two more memorial parks in future. Demand for bereavement services and facilities for non-Muslims in Johor and Selangor were good as both States were among the most developed in the Country. The company’s first Perpetual Memorial Park Kulai, Johor, spanning 99.8 acres was opened 28 years ago, while its two other memorial parks, 9.9 acres each are in Ulu Choh, Pontian in Johor and in Ipoh, Perak.

(The Star, 17/12/2022)


RESIDENTIAL ENCLAVE FOR SENIORS TO OPEN IN 2023 

Sunway Sanctuary, by the Sunway Healthcare Group, will be part of the greater Sunway City Kuala Lumpur to cater to the increasing demand for an exclusive senior living community in the Klang Valley in 2Q23. The facility comprises 473 units with 24/7 concierge services, dining, professional housekeeping and laundry services, maintenance services, IT support, around-the-clock security as well as one-on-one personalised services for various activities.

(The Star, 17/12/2022)


MBPJ TO HANDLE LAND VALUATION REPORTS 

Property developers in Petaling Jaya, Selangor will no longer be required to submit property valuation reports when applying for planning permission from the City Council starting 1st January 2023. The Petaling Jaya City Council (MBPJ) Valuation and Property Management Department will take over the task of preparing the property valuation reports. The cost-saving initiative would help save developers the hassle of having to appoint a certified valuer to prepare the report. It will also speed up the process of obtaining approval for planning permission.

(The Star, 21/11/2022)


THE ASCOTT LAUNCHES CITADINES CONNECT HOTEL IN GEORGETOWN, PENANG

The Ascott Ltd (wholly owned by CapitaLand Investment Ltd) launched “Citadines Connect” on Lebuh Noordin, Georgetown, Penang on 20th December 2022. “Citadines Connect” is a hotel situated in a two storey pre-war building, and marks Ascott’s third operating property in Penang. The hotel will have 143 rooms consisting of modern rooms, suites and apartments. 

(The Edge Markets, 21/12/2022)

 

+603-21612522      

All rights reserved (C) 2019

Jones Lang Wootton