RM1.2 BILLION ALLOCATION FOR NEGERI SEMBILAN

The Edge Markets, 07/05/2023; NST & The Star, 08/05/2023

A total allocation of RM1.2 billion for socioeconomic development in Negeri Sembilan has been announced by the Malaysian Government. The new projects for the State in 2023 included building an exit road from a proposed new toll to the Seremban Central Ring Road and building a road and a bridge across Sungai Sepang to link Bukit Pelandok, Port Dickson, with Sungai Pelek.

 

UNEMPLOYMENT RATE IN KELANTAN AT 4.1%

The Sun, 09/05/2023

The unemployment rate in Kelantan is high, after recording 4.1% in February 2023, compared with the national rate of 3.6%. Being selective of jobs is one of the factors identified as the cause of the high unemployment rate in the State.

 

MALAYSIA’S IPI GROWTH IMPROVED TO 3.1% IN MARCH 2023

The Edge Markets, 09/05/2023 & The Star, 10/05/2023

Malaysia’s industrial production index (IPI) improved by 3.1% year on year in March 2023, driven by a 4.1% expansion in the manufacturing sector, and a 0.8% rebound in the mining sector. However, the electricity index slipped by a negative 0.3% in March 2023 versus a positive 1.1% in February 2023. The 4.1% rise in manufacturing output was mainly backed by domestic-oriented industries, which rose by 5.0% (February 2023: 7.0%).

 

PAHANG RECORDED OVER RM21 BILLION IN FOREIGN INVESTMENTS

The Edge Markets, 09/05/2023

Pahang registered a total foreign investment of more than RM21 billion in two years starting from 2021. The services and manufacturing sectors were among those that benefited, with investment focused in Bentong and Gebeng while manufacturing, services, farming, and tourism were focused in Pekan, Kuantan, and Rompin.

 

NCIA, KEDAH GOVT REALISED RM7.34 BILLION INVESTMENT IN 2022

The Edge Markets, 09/05/2023

The Northern Corridor Implementation Authority (NCIA) in collaboration with the Kedah State Government realised RM7.34 billion in investments, and created 5,365 jobs, through high-impact investments in the Northern Corridor Economic Region (NCER) in 2022. The NCER’s talent development programmes and industrial park development initiatives are a testament to the region’s commitment to creating quality employment opportunities and promoting innovation and growth in Kedah. The NCIA’s focus would be on realising investments in the NCER’s industrial parks in Kedah, such as Kedah Rubber City and the Kedah Science Technology Park in 2023, which would further create employment opportunities and drive positive economic growth in the State.

 

WHOLESALE, RETAIL TRADE SALES SURGED 12.8% TO RM407.4 BILLION IN 1Q23

The Edge Markets, 10/05/2023; NST & The Sun, 11/05/2023

Malaysia’s wholesale and retail trade sales grew 12.8% year on year to RM407.4 billion in 1Q23 underpinned by the retail trade sub-sector which expanded 19.5%. This was followed by wholesale trade which rose 5.5% and motor vehicles which grew 19.4% in 1Q23.

 

SERVICES SECTOR REVENUE ROSE 13.1% YEAR ON YEAR IN 1Q23

The Edge Markets, 10/05/2023 & NST, 11/05/2023

Malaysia’s services sector revenue grew 13.1% year on year to RM560.3 billion in 1Q23 from RM495.5 billion in 1Q22 mainly driven by contributions from the wholesale and retail trade, food and beverages and accommodation segment which rose 13.1% year on year to RM428.2 billion in 1Q23. Other segments also contributed to the growth, namely the information and communication and transportation and storage segment which rose 12% year on year to RM77.8 billion as well as the professional, real estate and administrative and support service segment, which was 16.5% higher year on year to RM35.3 billion. Added that the e-commerce income expanded 10.4% year on year to RM307.2 billion in 1Q23.

 

PERAK GOVERNMENT TO LOOK AT DEVELOPERS’ TRACK RECORD

The Edge Markets & The Sun, 06/05/2023

The Perak State Government will look at the track record of the owner of a development company before approving any housing construction projects to avoid the occurrence of abandoned projects in Perak. The approach was taken to ensure that buyers’ rights are protected while also closing the door to developers making arbitrary profits by violating the law.

 

FEDERAL RESERVE LAND HANDOVER TO SABAH, SARAWAK IS BEING FINALISED

The Edge Property, 08/05/2023

The process of handing over the Federal Government’s reserve land in Sabah and Sarawak to the two States in accordance with the Malaysia Agreement 1963 (MA63) is now being finalised. After the process of handing over the federal reserve land to Sabah and Sarawak, the two States will become the absolute owners of the land.

 

92 PROBLEMATIC PRIVATE HOUSING PROJECTS SUCCESSFULLY RESTORED IN 1Q23

The Edge Markets, 09/05/2023

A total of 92 problematic private housing projects in Malaysia involving 6,700 units, were restored in 1Q23. Of these, 80 projects received the Certificate of Completion and Compliance (CCC) while the other 12 projects restored have returned to their construction schedule.

 

LANDOWNERS AFFECTED BY ECRL CONSTRUCTION TO BE COMPENSATED

The Edge Markets, 11/05/2023

The Pahang State Government will ensure that landowners affected by the implementation of the East Coast Rail Link (ECRL) project are properly compensated. The implementation of the ECRL project involves several phases, with Phase One being the acquisition of land along the alignment route, Phase 2A the acquisition of additional land along the alignment if there is a design change and Phase 2B the acquisition of land for the construction of stations and the access roads to the stations. Phase 2B has 204 privately-owned land lots in Kuantan, Maran and Temerloh and 73 government-owned plots that will be involved in the acquisition process.

 

THE LONG WAIT FOR THE WEST COAST EXPRESSWAY

The Edge Markets, 06/05/2023

The West Coast Expressway, a 233 kilometre toll highway connecting Banting in Selangor and Taiping in Perak, should have been completed three years ago under its concession agreement signed in 2013. However, it has only reached 86% completion as of 2023, with only four out of the 11 sections of the highway open for traffic. The highway is scheduled to be completed by the end of 2024.

 

CITAGLOBAL SECURES RM261 MILLION CONTRACT WORKS FOR KVDT 2

The Edge Markets, 09/05/2023; The Star, NST & The Sun, 10/05/2023

Citaglobal Engineering Services Sdn Bhd has secured works on the Klang Valley Electrified Double Track Phase 2 (KVDT 2) project amounting to RM261 million from Dhaya Maju Infrastructure (Asia) Sdn Bhd. To commence on 1st June 2023 and to be completed within 36 months, the scope of works includes the supply, delivery, construction, successful completion and maintenance of bridges, culverts, drainage and fencing works which form part of the KVDT 2 project. The KVDT2 project is a rail rehabilitation venture that covers 265 kilometres of the electrified double-track network in the Klang Valley. KVDT 2 covers the stretch from Salak South to Seremban, and from Simpang Port Klang to Port Klang.

 

MYAIRLINE FIRST INTERNATIONAL DESTINATION

NST & The Edge Markets, 10/05/2023 & The Sun, 11/05/2023

MYAirline is introducing its Kuala Lumpur-Bangkok route with ticket sales starting on 10th May 2023 and the maiden flight set for 28th June 2023. The flight will depart from Kuala Lumpur International Airport Terminal 2 for Don Mueang International Airport and Suvarnabhumi International Airport. Thailand is the first international destination for the carrier, which has been in operation since 1st December 2022.

 

RM2.28 MILLION LINK FOR PUCHONG ROADS

The Star, 10/05/2023

Subang Jaya City Council (MBSJ) is undertaking a project to link two existing roads on Persiaran Taman Perindustrian Kinrara and Jalan BK 5B, near Bandar Kinrara 5, Puchong. To be completed by October 2023, the project is aimed at improving traffic flow by providing an alternative route to the existing road network and reducing traffic congestion in the area, especially during the morning and evening peak hours.

 

BOTH COUNTRIES KEEN TO REVIVE HSR PROJECT

The Edge Markets, 11/05/2023 & The Star, 12/05/2023

Reviving the Kuala Lumpur-Singapore High Speed Rail (HSR) project is among the topics discussed during a bilateral meeting between the Transport Ministers of Malaysia and Singapore. The Malaysian Government are keen to revive the HSR project but it must be based on a private funding initiative. In its original proposal, the Kuala Lumpur-Singapore HSR would enable non-stop travel from Bandar Malaysia in Kuala Lumpur to Singapore’s Jurong East in not more than 90 minutes.

On the RTS project progress, both ministers expressed confidence that it would be completed on schedule by the end of 2026 with progress on the Malaysian side at 36% and 45% on the Singapore side.

 

TWL TO EXPAND ROLE IN DEVELOPING PRIVATE HEALTHCARE INFRASTRUCTURE

The Edge Markets, 09/05/2023

TWL Holdings Bhd is proposing to participate in the development of specialist hospitals and other infrastructures, by acquiring a 60% stake in Urban Masterpiece (KMN) Sdn Bhd (UMSB) and another 60% stake in Dunia Sejahtera Sdn Bhd (DSSB). UMSB is a private company and has obtained the right to be the property developer on a private hospital project that includes 160 beds and 20 units of three storey shop offices on 5.9 acres of land in Terengganu. Meanwhile, DSSB holds the hospital license, having successfully secured all necessary hospital operating licences.

 

MINETECH GETS PROJECT FROM OSK

The Star, 12/05/2023

Minetech Construction Sdn Bhd has been awarded a roadworks and drainage project valued at RM2.56 million by OSK Property Holdings Bhd’s unit, Aspect Synergy Sdn Bhd. The project, which is part of phase three of Taman Iringan Bayu in Seremban, commenced on 9th May 2023 for a period of four months.

 

SETIA ALAMSARI UNVEILS ADERYN TERRACE STARTER HOMES

The Edge Property, 08/05/2023

Setia Alamsari in Kajang has unveiled the first phase of “Aderyn” under the ANDRA collection, the township’s first series of starter homes. The township launched the first 108 units of “Aderyn” comprising 174 double-storey terraced homes. Built within a guarded community, Aderyn homes have a land size of 1,300 sq. ft., with built-ups ranging between 1,685 sq. ft. and 1,938 sq. ft. and are priced from RM667,000 to RM955,000.

 

PHASE 2 OF PARKHOMES @ AMVERTON HILLS OPEN FOR SALE

The Edge Markets, 08/05/2023

Set to be developed over two phases, a soft launch for 70 units of “Parkhomes” in the first phase within the 120 acres “Amverton Hills” in Sungai Buloh, Selangor was held earlier in 2023 and they were fully booked within a month. HIL Industries Bhd has recently opened the second phase for sale and optimistically expects Phase 2 to be fully sold by the end of 2023. The “Amverton Hills” is a freehold mixed-use development comprising commercial units, bungalows, semi-detached and double storey link homes.

 

PKNS LAUNCHES PUTERI ARIANA IN KOTA PUTERI

StarProperty, 09/05/2023

The Selangor State Government Corporation (PKNS) has launched its new residential development named “Puteri Ariana” in Kota Puteri, Rawang, Selangor. Spanning 6.46 acres, the project encompasses 72 double storey link houses, with prices ranging between RM590,000 and RM762,000.

 

FILLING A MARKET GAP

The Edge Markets, 07/05/2023

JL99 Group is launching a mid- to high-end high-rise residential project on Jalan Kuching, Kuala Lumpur in June 2023. Dubbed “99 Legend”, the project offers a total of 1,214 condominium units with built-ups of between 735 sq. ft. and 1,152 sq. ft. Each unit will have at least two bedrooms, two bathrooms and two side-by-side parking bays is priced from RM650 per sq. ft.

 

SFERA, WANGSA MAJU – A SERENE HAVEN IN THE CITY

The Edge Markets, 08/05/2023

Located in the thriving neighbourhood of Wangsa Maju in Kuala Lumpur, “Sfera” which comprises of 494 units is to be built on 2.27 acres of land next to Wangsa Walk Mall. Priced from RM450,000 and to be completed by 2026, the newly launched development by MCL Land offers built-up areas ranging between 541 sq. ft. and 1,371 sq. ft., or from one- to three-bedroom types, all partially furnished.

 

SOHO SUITES 2 OF ASTRUM AMPANG OPENS FOR SALE

The Edge Markets, 08/05/2023

Setia Awan Group has announced the commencement of sales of SOHO Suites 2 (SS2), the latest addition to its transit-oriented development “Astrum Ampang” in Kuala Lumpur. SS2 comprises 664 units with built-up from 450 sq. ft. and priced from RM472,000 each. All units featuring a 17 ft. high ceiling and come with at least one parking bay, are estimated to be completed by 3Q27.

 

FIRST TOWER OF UEM SUNRISE’S THE MINH 70% BOOKED

The Edge Markets, 09/05/2023

The first tower of UEM Sunrise Bhd’s latest high-rise residential development, The Minh, has achieved a booking rate of 70%, prior to its official launch on 27th May 2023. Spread across 6.2 acres of freehold parcel, which is located adjacent to Bukit Kiara Hill along Jalan Kiara 7 in Mont’ Kiara, “The Minh” will have 496 units across two towers that are slated for completion in 2027. The project features four types of layouts with built-up ranging between 1,607 sq. ft. and 3,010 sq. ft. Each unit will have at least three bedrooms, three bathrooms and two parking bays. One of the two parking bays will be equipped with an electric vehicle (EV) charger-ready powerpoint. Priced from RM1.4 million to RM2.8 million, the maintenance fee inclusive of the sinking fund is around RM0.35 per sq. ft.

 

NEW CENTRE TO FOSTER INNOVATION FOR BUSINESSES

The Edge Markets, 09/05/2023; NST & The Star, 10/05/2023

Maxis Bhd has opened the Maxis Business Innovation Centre (MBIC), a “digital immersive” space to foster innovation and drive digital transformation for businesses. Located on the ground floor of Menara Maxis, MBIC spans over 9,000 sq. ft. where customers can access an Internet of Things (IOT) lab, auditorium with state-of-the-art audiovisual technology, and co-sharing workspace to collaborate and innovate.

 

PRESENCE OF MASTERCARD’S DATA AND SERVICES HUB IN MALAYSIA

The Edge Markets, 10/05/2023

The opening of Mastercard’s Data and Services Hub in Kuala Lumpur further strengthens Malaysia’s status as a preferred choice in the digital economic landscape in the region. The Mastercard Data and Services Hub in Malaysia will serve clients across the Asia Pacific region with a suite of offerings beyond transactions and will also nurture a talent pipeline across a range of capabilities focusing on data science, product development and payments consulting. The hub in Kuala Lumpur will support the organisation in the provision of solutions to partners in the areas of cybersecurity, credit risk and data analytics, to help local clients and those across the region to scale and enable their business potential.

 

TM REAFFIRMS 5G COMMITMENT

NST, 11/05/2023

Telekom Malaysia Bhd (TM) has reaffirmed its commitment to the national implementation of 5G infrastructure amid the Malaysian Government’s plan to introduce a second network through a new entity in early 2024. The TM Campus was another significant achievement for the company. Located on a 28 acre site, the campus houses the group’s new headquarters, TM Innovation Hub, TM Network Operations Centre and TM Core Data Centre. The new facility offers open office space and digital tools, as well as dedicated areas for collaboration. It also features an eco-friendly design with green spaces and natural lighting to create a healthy and inspiring work environment for employees.

 

COFFEE CHAIN PRESENTS MODERN OUTLOOK AT 150TH CAFÉ IN MALAYSIA

The Star, 06/05/2023 & NST, 08/05/2023

The Coffee Bean and Tea Leaf Malaysia has opened its 150th cafe in Malaysia located in “Sierra Fresco” in Bandar 16 Sierra, Puchong in Selangor. The 2,799 sq. ft. eatery at “Sierra Fresco” features a large seating area that can accommodate up to 110 customers and visitors.

 

A&W PLANS TO OPERATE 100 STORES BY JULY 2023

NST, 08/05/2023

Malaysia’s oldest fast food chain restaurant, A&W Malaysia Sdn Bhd, plans to operate 100 stores nationwide by July 2023, followed by 150 stores by 2025. A&W had set aside RM25 million to RM30 million for its capital expenditure this year to cater for the store expansion and rebranding exercise.

 

PE FIRMS APPROACHED AS POTENTIAL BUYERS FOR MY HERO CHAIN OF STORES

The Edge Markets, 08/05/2023

My Hero Hypermarket Sdn Bhd (the operator of the HeroMarket grocery chain and Hero Save Mart stores) has approached private equity firms including Navis and Intermediate Capital Group (ICG) with a view to selling the chain for approximately RM445 million. My Hero operates 25 HeroMarket and six Hero Save Marts. Navis holds a stake in TFP Retail Sdn Bhd in Malaysia, which operates the Village Grocer and Ben’s Independent Grocer (BIG) premium grocery stores. ICG, meanwhile, backs hypermarket operator TF Value-Mart, which focuses on second-tier cities. New openings in 2023 have been identified in Puncak Bestari and Section 13, Shah Alam in Selangor; and in 2024 in KIP Mall, Sungai Petani, Kedah. The retailer is also said to be in active negotiations for openings in Negeri Sembilan and Klang, Selangor. The company acquired 4.3 acres of land in Kampung Baru Subang in Selangor in 2020 to construct a warehouse.

 

POS MALAYSIA OPENS ITS FIRST CONVENIENCE STORE – POS SHOP

The Sun & NST, 09/05/2023

As part of Pos Malaysia’s strategic transformation journey, Pos Malaysia Bhd opened its first convenience store Pos Shop, a one-stop centre retail experience for customers at Medan Tuanku post office, Jalan Tuanku Abdul Rahman, Kuala Lumpur. The new concept store serves as a model for future developments in selected post offices in Malaysia, with the aim to create an even more exciting in-store experience and offer further retail convenience at the post office.

 

MATRIX CONCEPTS IN TIE-UP WITH MCDONALD’S

The Star & The Edge Markets, 10/05/2023 & NST, 11/05/2023

Matrix Concepts Holdings Bhd has signed a strategic cooperation agreement with McDonald’s Malaysia to open its newest outlet in “Sendayan Merchant Square”, Bandar Sri Sendayan, Seremban. To be built on 21,000 sq. ft. of land within the bustling 100 acre commercial lifestyle hub, the restaurant will be complete with both dine-in and drive-through facilities.

 

MYNEWS SLOWS DOWN EXPANSION AS IT FOCUSES ON TURNAROUND

The Edge Markets, 10/05/2023

MyNews Holdings Bhd is slowing down its pace of store openings after going on an aggressive expansion spree in the past few years. Instead, the convenience store operator is focusing on improving its operational efficiency in a bid to reduce costs and return to profitability. MyNews had a network of 614 outlets (466 MyNews, 131 CU and 17 WH Smith) as of January 2023. The group plans to open a total of just 50 outlets for FY23 comprising all three brands, subject to market conditions.

 

MORE FAMILYMART STORES TO OPEN IN EAST COAST IN 2023

NST, 10/05/2023

FamilyMart Malaysia plans to open 20 stores on the east coast of Peninsular Malaysia, focusing on Kuantan, Pahang by the end of 2023. In line with the new stores’ plan, the company’s FamiCafé in Menara U, Shah Alam has received its first halal certification from Jabatan Kemajuan Islam Malaysia, making it the first convenience store in Malaysia to obtain this certificate. The company aims to have the 300 FamiCafés stores halal-certified by 2025. All new FamiCafés will automatically adopt the layout guided by JAKIM while existing ones will be converted to incorporate the changes required.

 

GSC ALLOCATES RM357 MILLION TO REFURBISH THEATRES, FUND EXPANSION

NST, 11/05/2023

Golden Screen Cinemas Sdn Bhd (GSC), which is owned by PPB Group Bhd, is investing RM357 million for the refurbishment of existing theatres and the expansion of its presence. The new locations are GSC Bukit Bintang City Centre (Lalaport, Kuala Lumpur), GSC KL East (Kuala Lumpur), GSC Sunshine Mall (Penang), GSC Mayang Mall (Terengganu) and GSC TRX (Kuala Lumpur). GSC also announced the opening of a new contemporary-style boutique theatre at Retail 163 in Mont Kiara, Kuala Lumpur. GSC had a successful start to 2023 with the opening of GSC IOI Kulai in Johor, GSC Lotus’s Kepong, and GSC IOI City Mall 2 in Putrajaya.

 

IBN CORP, JTA INTERNATIONAL TEAM UP TO EXPAND REACH

NST, 06/05/2023 & The Sun, 11/05/2023

IBN Corp has partnered with financial services and investment solutions provider JTA International Holdings, to expand its reach in the real estate market globally. JTA International which has established companies in Qatar and the United Kingdom had become a new shareholder after its investment in IBN Highlands City and Green City. IBN Highlands City is a mixed-use development in Genting Highlands that integrates more than 4,000 units of serviced apartments. Green City is a holiday resort project that connects ecology, architecture and landscape in Serendah, Selangor.

 

RM40MILLION MINERAL PROCESSING PLANT FOR PERAK IN 2024

The Edge Markets, 08/05/2023; The Star, 09/05/2023 & NST, 10/05/2023

A RM40 million zero-waste facility mineral processing plant is set to be opened by Jinjing Silicon Technology Sdn Bhd in the Silver Valley Technology Park (SVTP). Set to commence in 2024, the processing plant will be constructed using the built-to-suit and lease model on an 11.88 acres site.

 

HARTALEGA TO DECOMMISSION BESTARI JAYA FACILITY BY THE END OF 2023

NST, The Sun & The Star, 09/05/2023

As part of Hartalega Holdings Bhd’s commitment towards sustainable long-term growth, the group will decommission its facility in Bestari Jaya, Selangor, with operations to be consolidated at its Next Generation Integrated Glove Manufacturing Complex (NGC) in Sepang, Selangor. Decommissioning of the Bestari Jaya facility, which comprises four production plants, some of which have been operational since 2004, is expected to be completed by the end of 2023.

 

SIME MOTORS, BYD OPEN THREE 3S CENTRES

NST, 09/05/2023

Sime Darby Motors (SDM) and Chinese electric carmaker BYD Co Ltd have opened three sales, service and spare parts (3S) centres in Klang Valley. SDM has invested RM11 million in Ara Damansara’s new BYD 3S centre, which has a built-up area of roughly 19,375 sq. ft. and is outfitted with modern facilities and retail concepts, consistent with BYD’s corporate identity. The facility has four service working bays and can service up to 270 vehicles monthly, with 48 dedicated employees supporting the operation.

 

SDP AND LOGOS SECURE FIRST TENANT FOR LOGISTICS PARK

The Star, 09/05/2023

Sime Darby Property Bhd (SDP) and Logos SE Asia Pte Ltd have secured J&T Distribution Solutions Sdn Bhd as their first tenant for Metrohub 2 within the E-Metro Logistics Park in Klang. J&T is a global logistics service provider with leading express delivery businesses in South-East Asia and China, the largest and fastest-growing markets in the world.

 

AGESON’S RM279 MILLION INDUSTRIAL LAND DISPOSAL CALLED OFF

The Edge Markets, 11/05/2023

Over a year and a half after penning a deal to dispose of 168 acres of industrial land in Perak to China’s Zhejiang Guorong Digital Economy Group Ltd (ZGDEG), Ageson Holdings Sdn Bhd has terminated the RM278.78 million land sale. The mutual termination was due to the prolonged delay in obtaining the requisite approval for the proposed 33 industrial lots.

 

PRIMED FOR AN ‘INDUSTRIAL REVOLUTION’

The Star, 12/05/2023

Perak is all set for Tanjung Malim to be turned into an Automotive High-Technology Valley (AHTV). Some 50,000 people, including workers and their families, are expected to reside in Tanjung Malim by 2027, with the establishment of AHTV, as well as plans to expand the existing Proton plant. DRB-Hicom Bhd launched the AHTV development plan in 2022 to serve as an automotive industry hub for the South-East Asian region. A memorandum of understanding was signed with Geely to jointly develop AHTV and to identify vendors and investors for the hub. Besides supporting Proton, AHTV is expected to attract companies involved in new technologies and systems that are related to the automotive industry.

 

REDEVELOPMENT PLAN RECEIVED FROM MAHB

NST, 06/05/2023

The Ministry of Transport has received the business plan proposal for the redevelopment of Sultan Abdul Aziz Shah Airport (Subang Airport) from Malaysia Airports Holdings Bhd (MAHB). The Ministry announced that the Subang Airport would be redeveloped into a premium city airport and aviation hub after the Cabinet approved plans for its redevelopment, dubbed Subang Airport Regeneration Plan (SARP) in February 2023. The SARP will see Subang Airport as a regional commercial and maintenance, repair and overhaul (MRO) aviation hub that will have narrow-body aircraft operations again with a maximum capacity of eight million passengers a year.

 

AIMS UNVEILS DATA CENTRE EXPANSION PLANS

The Edge Markets, 08/05/2023 & The Sun, 09/05/2023

AIMS Group (data centre services provider) will construct AIMS Cyberjaya Block 2 to meet the overwhelming demand for data centre space in Malaysia. Scheduled to be completed by the end of 2023, the project features a purpose-built data centre with improved efficiency and building structure and a total IT load of 8 megawatts.

 

ACRONIS SETS UP CYBER CLOUD DATA CENTRE IN KL

The Edge Markets, 10/05/2023 & The Sun, 11/05/2023

Acronis has set up a cyber cloud data centre in Kuala Lumpur that provides its partners with access to a range of cyber protection solutions. With the new addition, the Acronis Cyber Cloud network consists of 52 data centres and it will continue to expand the chain. This addition to the company’s global network of cyber cloud data centres will provide its partners in Malaysia access to a suite of cyber protection solutions and managed cloud solutions via the Acronis Cyber Protect Cloud platform.

 

AUSTRALIA’S NEXTDC PLANS EXPANSION IN MALAYSIA, NZ

The Star, 12/05/2023

Australian data centre operator NextDC Ltd is looking to raise approximately RM1.86 billion through an entitlement offer to accelerate its expansion plans in Malaysia and New Zealand. NextDC is planning the phased development of two new data centres in Kuala Lumpur and Auckland, to cater to the growing demand for data centre services across the Asia-Pacific region. NextDC is targeting construction at both regions to begin in 2024, and aiming to complete in 1H26.

 

KIMLUN AWARDED TWO CONSTRUCTION CONTRACTS IN JOHOR WORTH RM94.5 MILLION

The Edge Markets, 10/05/2023 & The Star, 11/05/2023

Kimlun Sdn Bhd has secured two construction contracts from Horizon Hills Development Sdn Bhd worth RM94.5 million pertaining to main building works for 78 units of shop offices and a shopping mall with facilities in Johor Bahru. Slated to be completed by 2Q25, “Horizon Hills” is a joint venture development between Gamuda Land Sdn Bhd and UEM Sunrise Bhd for the development of a 1,200 acre integrated township in Iskandar Malaysia.

 

AXIS REIT PROVIDES RM7 MILLION IMPAIRMENT AS TENANT DEFAULTS ON RENTAL

The Edge Markets, 08/05/2023

Axis Real Estate Investment Trust (REIT) said a tenant at its property in Nusajaya, Johor, which contributed about 5% of its total revenue in 2022, has defaulted on its rental payments. Axis REIT has issued a notice to terminate its lease agreement with Yongnam Engineering Sdn Bhd (YESB), which is a major tenant at the Axis Steel Centre @ SiLC, following the default. The REIT has made a provision of RM7.31 million in impairment for outstanding rental payments.

 

JOHOR WANTS TO BECOME A SPORTS TOURISM HUB

The Edge Markets, 11/05/2023

The Johor State Government intends to make Johor a sports tourism hub, especially after becoming a favoured destination for the organisation of several international sports tournaments including L’Etape Johor by Tour De France which entered its second year of organisation with a target of 6,000 participants from home and abroad on 8th July 2023. L’Étape Johor is an annual mass cycling event that allows amateur cyclists to race on the same route as the Tour de France stages.

 

PENANG TO SCALE DOWN PSI RECLAMATION PROJECT BY 49%

The Edge Markets, 11/05/2023; The Star & NST, 12/05/2023

The Penang State Government has agreed to scale down the Penang South Island (PSI) reclamation project by 49% by not proceeding with the construction of ‘Island B’, covering 1,400 acres and ‘Island C’ (800 acres). This was despite the Environmental Impact Assessment Report for the PSI project being approved by the Department of the Environment on 11th April 2023 covering three islands and involving a total area of 4,500 acres. Silicon Island (Island A) will remain as a Light Rail Transit (LRT) depot site, involving 60 acres, while the Green Tech Park will be maintained as an economic catalyst and the “Heart of the Island” as a new tourism product for the State. Reclamation for the first phase of Silicon Island involving 1,300 acres, including the LRT depot site, which is expected to take seven to 10 years to complete, would not have any impact on the lives of fishermen. The second phase will cover an area of 1,000 acres, adding that reclamation for Silicon Island, including the ‘topside’ part, would take 20 years.

 

FEDERAL TO PROVIDE ADDITIONAL FUNDS TO EXPEDITE PENANG LRT PROJECT

The Sun, 06/05/2023 & The Star, 08/05/2023

The Federal Government announced additional funds to expedite the construction of the Penang Light Rail Transit (LRT) project. The LRT project is one of the main components of the Penang Transport Master Plan (PTMP) and it is a long-term strategy to overcome the problem of traffic congestion in the State. The Penang State Government’s plan for the construction of the LRT line is to connect Bayan Lepas and Komtar.

 

EDELTEQ CONFIDENT OF GAIN WITH NEW PLANT CAPACITY

The Star, 10/05/2023

Edelteq Holdings Bhd expects the new capacity at its plant in Batu Kawan, Penang, to help meet growth in demand for its services from the rising adoption of technology in the economy and everyday life. Edelteq current factory’s built-up space stands at 7,931 sq. ft. The new factory plus office will cost the group about RM15 million in total and help in expanding its product and service portfolio, especially in the development of new integrated chip (IC) assembly and test consumables, as well as automated test equipment.

 

PHASE 1 OF GURNEY WHARF PROJECT TO OPEN IN JULY 2023

The Edge Markets, 11/05/2023

Phase 1 of the Gurney Wharf project is 85.72% developed and is expected to be completed by June 2023 and to be opened to the public in July 2023. Located on 27.53 acres of land, Phase 1 of the project will have a playground, skatepark, south vantage point, kiosks, expressway reserve, open car parks and toilets. Phase 2 involving 87.82 acres of land was 14.5% developed. Scheduled to be completed by 4Q24, Phase 2 will have a hawker centre, north vantage point, water taxi jetty, water garden, beach, boardwalk and more.

 

HARBOUR-LINK ACQUIRES INDUSTRIAL LANDS IN TELIPOK, KOTA KINABALU

The Edge Markets, 08/05/2023

Harbour-Link Logistics Sdn Bhd is acquiring three pieces of vacant industrial lands in Telipok, Kota Kinabalu, Sabah for RM8.5 million. The leasehold lands included a land plot measuring 29,728 sq. ft. for RM2.06 million, 44,138 sq. ft. land for RM3.05 million, and 50,810 sq. ft. land for RM3.39 million.

 

SARAWAK UNVEILS FIRST MICROALGAE PRODUCTION FACILITY

The Sun & The Star, 11/05/2023

Sarawak launched its first industrial microalgae production facility, the Chitose Carbon Capture Central Sarawak at Sejingkat, Kuching, Sarawak. The 12.4 acre facility uses flue gas waste containing carbon dioxide to enhance algae production on an industrial scale.

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