Week 43 - 2023
INFLATION AT MORE THAN TWO-YEAR LOW
The Star, 21/10/2023
Malaysia’s headline inflation hit more than two-year low after the consumer price index (CPI) unexpectedly decelerated further in September 2023. Data from the Statistics Department showed CPI growth in September 2022 eased to 1.9% year-on-year from 2% year-on-year in August 2023. The latest CPI reading was the lowest since March 2021, and it came in below market consensus estimate of 2.2% year-on-year.
DOSM: ADVANCE ESTIMATE SHOWS 3Q23 GDP UP 3.3% ON HIGHER SERVICES SECTOR GROWTH
The Sun, The Edge & NST, 23/10/2023
Advanced projections show Malaysia’s gross domestic product (GDP) rose 3.3% year-on-year (y-o-y) in 3Q23, compared with 2.9% y-o-y in 2Q23. This is the first time the DOSM released its quarterly advance GDP estimate. The advanced GDP growth projection of 3.3% in 3Q23 was supported by the services sector, which continued to steer the overall performance in 3Q23, with an increase of 5.1%, from 4.7% in 2Q23. The favourable performance was attributed to the wholesale and retail trade, transportation and storage, and business services sub-sectors. The sum of 1Q23 to 3Q23 concludes that Malaysia’s economy grew by 3.9%, compared with 9.2% by 3Q2022.
MAHB EXPECTS GRADUAL RECOVERY IN PASSENGER TRAFFIC
The Star & The Edge, 21/10/2023
Malaysia Airports Holdings Bhd’s (MAHB) network of airports registered 32.6 million passenger movements in 3Q23, reaching 88.3% of 3Q19 level. Both international and domestic passenger movements in 3Q23 registered recovery rates of 90.3% and 86.4%, respectively, indicating a balanced recovery between domestic and international travel for both Malaysia and Turkiye operations. Despite the low month in September, total passenger movement hit 10.3 million, the second-highest traffic recovery for this year, at 89.5% of September 2019 level. International passengers for September 2023 at five million was the highest traffic recovery for a month, reaching 92.5% of September 2019 level. The domestic sector in September 2023 registered 5.3 million, maintaining more than 86% of traffic recovery over the same month in 2019. On the local front, airports in Malaysia registered 21.7 million passengers in 3Q23, reaching more than 80% traffic quarterly recovery for the first time over the same period in September 2019.
KELANA JAYA LRT LINE EXPECTED TO ACHIEVE 3-MIN FREQUENCY BY END OF OCTOBER 2023
The Edge, 24/10/2023
The Light Rail Transit (LRT) service for the Kelana Jaya Line is expected to achieve a three-minute frequency during peak hours by the end of October 2023. Prasarana Malaysia Bhd (Prasarana) has made several efforts to improve train service frequency. Three four-coach trains (for the Kelana Jaya line) commenced operations in September 2023. The remaining 16 trains will be received in stages until December 2024 under the Kuala Lumpur Additional Vehicles 27 (KLAV27) project. As for the Kajang Mass Rapid Transit (MRT) Line, the ministry said that train wheel replacements are underway, and the targeted train frequency during peak hours is set to improve from six minutes to four minutes by the end of January 2024.
ANIH TO COMMENCE KL-KARAK HIGHWAY LANE EXPANSION WORKS IN 2Q24 — DEPUTY MINISTER
The Edge, 25/10/2023
Kuala-Lumpur-Karak Highway (KL-Karak) concessionaire Anih Bhd is expected to commence work to widen lanes across the highway in 2Q24. The government has approved the proposal to widen the lanes of KL-Karak from the Gombak Toll Plaza to the Central Spine Road Intersection in Bentong. The project is currently in its preliminary stages, with a detailed design to be implemented in 2Q2024. The job’s scope involves a three-metre-wide emergency lane to enable the activation of smart lanes during the festive season towards reducing congestion, as well as the installation of high mast lights from Gombak to the Genting Sempah Tunnel. The highway is currently equipped with a 2.25-metre emergency lane, which does not adhere to the required 2.5 metres under the specifications for a smart lane.
NEW EXPRESSWAY TO OPEN ON 1st NOVEMBER 2023
The Sun, 26/10/2023
The Setiawangsa-Pantai Expressway (SPE) is expected to be officially open to the public on 1st November 2023. The expressway is 99% complete, but final preparations are under way for facilities such as public restrooms, street lighting involving electrical supply and toll collection systems. The SPE is a 29.8km dual-two carriageway that spans from north to south Kuala Lumpur and covers areas the Wangsa Maju, Setiawangsa, Ampang, the Tun Razak Exchange and Bandar Malaysia development corridor.
BATIK AIR TO ADD 3 PLANES TO FLEET
NST, 27/10/2023
Batik Air Malaysia – formerly known as Malindo Air – is expecting to add three aircraft to its fleet by year end as part of its expansion in the Asia-Pacific region. Batik Air’s new destinations will include Tashkent (Uzbekistan), Dubai and Istanbul (Turkiye). Batik Air is also looking to set up its own maintenance and overhaul centre in Sepang to service its fleet. Batik Air had purchased a 4-acre site in Bandar Enstek to expand its airline kitchen facility located on a 2-acre site. The operation of the expanded facility is expected to commence within 2 years.
DEVELOPMENT OF OPEN PAYMENT SYSTEM FOR PRASARANA’S RAPID RAIL NETWORK TO BEGIN IN MARCH 2024
The Star & The Edge, 27/10/2023
The commencement of design and development work for the open payment system serving the rapid rail network under Prasarana Malaysia Bhd is expected to begin in March 2024. This new system will introduce MyDebit and credit cards as additional payment options at the gantry in addition to existing payment methods that use Touch ‘n’ Go or tokens. The infrastructure construction will be completed in stages from February 2025 and by August 2025, all gantries will be ready to accept such payment. This system will continue to be developed by enabling the use of other payment modes such as QR code in the next phase of implementation.
Prasarana has been planning to implement an open payment system starting with its rail service network in the Klang Valley since the beginning of 2023. Prasarana is currently finalising the implementation plan for the Rapid Rail network, which includes the Kelana Jaya LRT Line, the Ampang LRT Line, the Kajang MRT Line, the Putrajaya MRT Line and the Monorail. For the Keretapi Tanah Melayu Berhad (KTMB) commuter network in the Klang Valley, an upgrade on the ticketing system or Automatic Fare Collection (AFC) at 57 KTM stations is almost complete and is expected to be operational by mid-November 2023. The new system will support open payment methods, including credit cards, debit cards, Touch ‘n’ Go, and QR code via the mobile application KTMB (KITS).
MOT TO NEGOTIATE CONTINUATION OF TEBRAU SHUTTLE SERVICE AFTER RTS BEGINS OPERATIONS
The Edge & The Sun, 27/10/2023
The Ministry of Transport (MOT) intends to initiate negotiations for the continuation of the current Keretapi Tanah Melayu Bhd (KTMB) Tebrau Shuttle service from Johor Bahru to Singapore, even after the Rapid Transit Service (RTS) begins its operations. The termination of the shuttle after six months of the RTS becomes operational was one of the conditions agreed by Malaysia and Singapore in the implementation of the RTS. However, it is felt that with more connectivity between Malaysia and Singapore will provide passengers with more options.
In 2023, the average daily passenger count for the shuttle service is 8,635 people which is a 7% increase compared with the pre-Covid-19 passenger record of 8,077 people per day in 2019. The ministry has proposed to Singapore an increase in the frequency of Tebrau Shuttle services from 31 trips currently to 36 trips, and an increase in the number of coaches per train operation from four coaches to eight coaches. This enhancement would elevate the passenger capacity to up to 13,760 people per day.
INDUSTRONICS INKS MOA FOR DEVELOPMENT OF LANGKAWI DUTY-FREE CITY
The Edge, 24/10/2023
Industronics Bhd said it had entered into a memorandum of agreement (MOA) with Echo Asia (Hong Kong) Ltd, an affiliate of Hong Kong-listed Echo International Holdings Group Ltd, and CHEC Construction (M) Sdn Bhd, a wholly owned subsidiary of China Harbour Engineering Company Ltd, to negotiate a proposed collaboration to construct an international duty-free city on Pulau Langkawi. Echo Asia is interested in building Asia’s largest international duty-free city in Langkawi, and to appoint Industronics as the project management company. Echo Asia will provide the necessary details for the intended Langkawi duty-free city, including the required land size, floor area, design specifications, and expected costs. Industronics is tasked with engaging with landowners to secure the land for the development of the duty-free city, including negotiations pertaining to pricing, terms and conditions. Meanwhile, CHEC will offer consultation services for the design of the duty-free city and undertake construction. Additionally, CHEC will discuss potential investment in the project, which may involve contributing a portion of the construction costs associated with the duty-free city.
LOCAL GOVERNMENT MINISTRY SUCCESSFULLY REVIVES 256 PRIVATE HOUSING PROJECTS WORTH RM23.37 BILLION
The Edge & NST, 24/10/2023
The Local Government Development Ministry has successfully revived a total of 256 private housing projects, comprising 28,363 housing units, with a gross development value (GDV) of RM23.37 billion, as of August 2023. 225 private housing projects, involving 19,945 housing units with a GDV of RM18.09 billion, have been granted Certificates of Completion and Compliance (CCC), while the remaining 31 housing projects, which include 8,418 housing units with a GDV of RM5.28 billion, have had their status changed to ‘in progress’. The government has also taken action to freeze 20 housing development accounts (HDA) for projects in the sick category.
TDM BUYS PRIVATE MATERNITY HOSPITAL IN KLANG FOR RM15 MILLION
NST, 25/10/2023
TDM Bhd’s healthcare subsidiary Kumpulan Medic Iman Sdn Bhd (KMI), is buying a private maternity hospital in Klang for RM15 million. KMI has entered into a share sale agreement with Datuk Mohd Razif Abdul Aziz and Datin Norana binti Yacob to purchase a 100% interest in Hospital Bersalin Razif Sdn Bhd (HBR). The acquisition of HBR, is a strategic plan for the expansion of the KMI brand to create better economic value and earnings potential for TDM.
AXIS-REIT IN RM48 MILLION LAND PURCHASE
The Edge & The Star, 26/10/2023
Axis Real Estate Investment Trust (REIT) is acquiring industrial premises in Negeri Sembilan for a cash consideration of RM48 million. The vendors of this transaction are BSS Development Sdn Bhd and Matrix IBS Sdn Bhd which are wholly owned subsidiaries of Matrix Concepts Holdings Bhd. The property is situated within Sendayan Techvalley Industrial Park and as a net lettable area of 105,311 sq. ft. It comprises a single-storey detached factory, a single-storey detached office, a double-storey detached office, a single-storey canteen building, and other ancillary structures. The acquisition is expected to be completed by 1H24.
JAPANESE TOUCH TO SECOND PHASE OF IPOH SOUTH PROJECT
The Star, 21/10/2023
Developer Team Keris Bhd’s (TKB) latest double-storey terrace houses in Ipoh, Perak, are inspired by Japan and will be incorporating eco-friendly elements. The first-phase units known as Jia which are under construction are fully sold. There was also a commercial area called Ginza in Ipoh South area. Ginza and Jia were both launched in February 2023, and works are ongoing. The second phase, Shibuya is located in the southern part of Ipoh, close to the Simpang Pulai toll plaza. Work has started for the terrace houses and completion is expected by the end of 2024. There will be a total of 322 units and each has a built-up area of 2,112 sq. ft. The units would have four bedrooms with attached bathrooms, two concept rooms, an open kitchen and outdoor space for barbeque. Shibuya comes with a large entrance door, high ceiling, spacious balcony, as well as, wide windows to promote good ventilation and natural lighting. Prices for Shibuya units start from RM568,800. In the next eight years, TKB will have several projects lined up in Bercham, along the Ipoh-Gopeng road, and Batu Gajah.
TELADAN UNVEILS MELAKA’S FIRST SOLAR-POWERED HOMES
NST, 23/10/2023
Teladan Group Bhd will build Melaka’s first solar-powered homes. The developer held a preview of Phase 2A of its 166.3-acre Taman Bertam Heights (TBH) township which consists of 352 two-storey terraced and semi-detached houses. The RM242 million houses (in GDV) are expected to be completed in 4Q26. The “forward-thinking homes” will encourage green living among homeowners and also save up to 75% on electricity costs. TBH was first introduced in February 2022 with the launch of TBH Phase 1B, which had a 98.9% sales rate. Followed by TBH Phase 1A which was launched in 4Q22. The township’s final phase, phase 2B, with an estimated GDV of RM268 million, will be launched in 2024. The development is well-equipped with landscaped parks, gardens, a playground area, a clubhouse, a gymnasium, a swimming pool, and a backlane jogging path, in keeping with the company’s commitment to community-centric living.
TROPICANA CENANG GETS 90% SALES RATE
The Star & The Sun, 21/10/2023
Tropicana Corp Berhad has reported a 90% sales rate for its Assana Serviced Suites, which is the first phase of the Tropicana Cenang project in Langkawi, Kedah. Following the first phase’s success, Tropicana has introduced Merissa Serviced Suites, with 60 beachfront homes in a low-rise serviced suite tower. Assana Serviced Suites comprises 831 signature homes in a 39-storey residential tower, with built-ups from 380 sq. ft. while Merissa Serviced Suites offers larger layouts of 2 and 3 bedrooms from 1,066 sq. ft. to 1,303 sq. ft. within duplex, intermediate and corner units. Projected for completion in March 2026, both Assana and Merissa Serviced Suites benefit from the natural pull factors of Langkawi, such as its year-round tropical climate and status as a UNESCO Global Geopark. The 5.28-acre Tropicana Cenang integrated mixed development is in proximity to Langkawi International Airport, the ZON Duty Free, and Underwater World Langkawi.
MAJESTIC GEN’S MAJESTIC RESIDENCE ACHIEVES 85% BOOKING SINCE WEEKEND (21ST & 22ND OCTOBER 2023) LAUNCH
The Edge & The Star, 25/10/2023
The Majestic Residence in Chow Kit, Kuala Lumpur has been 85% booked since its launch on 21st October 2023. The Majestic Residence sits on a 0.66-acre freehold parcel and has a gross development value of RM384 million. The 33-storey residential tower offers 478 units with built-ups ranging from 459 sq. ft. to 654 sq. ft. for one-bedroom units. The price of the units start from RM596,000 and the estimated maintenance fee is 55 sen per sq. ft. inclusive of sinking fund. Majestic Residence is slated for completion in March 2026. And the facilities include a sky pool, sky lounge, sauna, games room, multipurpose hall, gymnasium, dedicated spaces for solat (Muslim prayer), and a barbeque area. It is situated in the Kuala Lumpur (KL) city centre, within proximity to landmarks such as the Petronas Twin Towers, Suria KLCC, Pavilion Kuala Lumpur, and the Tun Razak Exchange. Hospitals and medical facilities within reach include Hospital Kuala Lumpur, Institute Jantung Negara, Gleneagles Kuala Lumpur, and KPJ Tawakkal.
GRAND GLOBAL’S GRAND DAMANSARA LIFESTYLE SUITES TOWER IN PJ 75% BOOKED SINCE OFFICIAL LAUNCH
The Edge, 25/10/2023
The Grand Damansara, a mixed development in Petaling Jaya by the Grand Global Heights Sdn Bhd has achieved a 75% booking rate for its Lifestyle Suites tower since the official launch on 21st October 2023. The development is situated in Kayu Ara and is located next to the Sprint Highway. With a gross development value (GDV) of RM200 million and sitting on a 2.76-acre leasehold land, the Grand Damansara development comprises two towers — Lifestyle Suites and Residential Suites, and a two-storey retail podium. The Lifestyle Suites tower comprises 651 small office units and priced from RM240,000. The units come in three types of layout — studio suite (273 sq. ft.), dual-key suite (469 sq. ft.) and executive suite (471 sq. ft.).
Launched in August 2023, the Residential Suites tower which comprises 330 serviced apartment units, is 60% sold. The units with built ups from 471 sq. ft. to 936 sq. ft., are priced from RM435,800. There are 22 retail lots within the retail podium, with built-up areas from 850 sq. ft. to 4,037 sq. ft. and priced from RM1.02 million to RM8.07 million. The target buyers of the Lifestyle Suites are investors and single individuals due to the compact unit sizes, while the Residential Suites are more suitable for families as the units offer spacious layouts. There are 28 facilities at Grand Damansara shared by both towers such as a swimming pool, jacuzzi, children’s playground and communal kitchen. Grand Damansara residents will also be able to access the Kayu Ara LRT Station (of LRT3) via a 500m pedestrian linkway.
VIERRA RESIDENCE IN BANDAR KINRARA SNAPPED UP
The Sun, 26/10/2023
Vierra Residence, a freehold housing project by Fajar Land (M) Sdn Bhd has achieved 100% sales. Vierra Residence comprises two towers: Tower A and Tower B, rising to 38 and 39 floors, respectively with a total unit of 1,604 units designed to meet modern living standards. Vierra Residence is strategically located in Kinrara, KL. It is well-connected to several LRT stations along the Sri Petaling line and major highways like NPE and Kesas. The project is expected to be completed by 2026.
WORQ CHARTS EXPANSION, EYES 1 MILLION CUSTOMERS BY 2027
The Sun, 23/10/2023
Malaysian co-working startup Worq is mapping out ambitious expansion plans to reach one million customers by 2027, a significant leap from their current 200,000 customers. Worq started the year with 97,000 sq. ft. and is set to reach 100,000 sq. ft. by the end of 2023. Worq has opened its KL Sentral location and launched a new site in Bangsar, with two more sites in the pipeline.
HIGH OCCUPANCY RATE SET TO STEER IGB-REIT
The Star, 23/10/2023
IGB REIT reported the occupancy rate of Mid Valley Megamall, one of the largest malls in Malaysia with a net lettable area of 1.8 million sq. ft., as 99.94% in 3Q23, higher than its pre-Covid-19 pandemic level of 99.9% in 2019. The average gross monthly rental income recovered to RM16.26 per sq. ft., surpassing the pre-pandemic monthly rental of RM15.03 per sq. ft. in 2019. Similar trends are seen in The Gardens Mall, with occupancy rate recovering to 99.9% in 3Q23 and surpassing 2019’s level of 98.9%. Its gross monthly rental rose to RM15.43 per sq. ft., surpassing 2019’s level of RM12.93 per. sq. ft.
EPMB PLANS EV FACILITY IN MELAKA
The Star, 21/10/2023
EP Manufacturing Bhd (EPMB) has proposed to set up an automotive manufacturing facility in Melaka that will serve as a hub for energy-efficient vehicles (EEVs) and electric vehicles (EVs) in Malaysia. The new facility, which will cost about RM100 million, will be established in several phases at the Hicom Pegoh Industrial Park. Upon completion, the first phase of the facility will have the capacity to produce up to 30,000 vehicles a year.
BUSINESS HUB FOR SUSTAINABILITY AND VERSATILITY
The Star, 23/10/2023
Sunsuria Kejora Business Park (SKBP), a 60.78-acre development in Bandar Puncak Alam Selangor is an industrial development which offers flexible space that adapts to specific business needs. The units can be used as retail outlets, warehouses, office spaces, or manufacturing facilities. The development boasts eco-conscious features that help conserve energy and resources such as solar panel structures, EV charging points, rainwater harvesting, green building certification and many more. Phase 1 is fully sold while Phase 2 offers 80 units of three storey semi detached factories and 2 units of three-storey detached units. SKBP primarily caters for light- to medium-sized businesses seeking versatile spaces for various purposes, including manufacturing, storage, warehousing or vehicle-related purposes.
TAPPING BOLLYWOOD GLITZ TO ATTRACT INDIAN TOURISTS
The Star, 23/10/2023
Malaysia’s move to attract Indian visitors mirrors that of Thailand as India was the second largest source of tourists to the kingdom last year. Recent reports said about 580,000 Indian travellers visited Thailand between January and May 2023. According to data from the ministry, there were 552,739 Indian tourists to Malaysia in 2017, 600,311 in 2018 and 735,309 in 2019. However, the Covid-19 pandemic caused a huge dent in 2020, resulting in a sharp decline to 155,883. After Malaysia reopened its borders, the number of Indian tourists to Malaysia in 2022 was 324,548, with an average expenditure of RM5,476 per person and an average stay of 6.2 days. As of July 2023, the number of Indian tourists visiting Malaysia reached 337,865.
Malaysia Airlines has announced plans to expand its connections to India, launching three new routes from November 2023. These routes – to Amritsar, Trivandrum and Ahmedabad – are being prompted by strong travel demand from India, where the airline has reported an average load factor of 81%. The carrier flies directly from Kuala Lumpur to six Indian destinations: New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad and Kochi.
RENAISSANCE KUALA LUMPUR HOTEL & CONVENTION CENTRE REOPENS ITS DOORS IN OCTOBER 2023
The Edge, 25/10/2023
Renaissance Kuala Lumpur Hotel & Convention Centre in the city centre reopened its doors to the public on 20th October 2023, after having closed since June 2020 for renovations. Renaissance Kuala Lumpur Hotel & Convention Centre will be part of Marriott International’s first dual-branded property under the Marriott Bonvoy travel programme in the country, as the hotel will be sharing an address with the Four Points by Sheraton Kuala Lumpur, City Centre. Four Points by Sheraton Kuala Lumpur, City Centre will be the fourth hotel under the Four Points by Sheraton brand in the country.
Renaissance Kuala Lumpur Hotel & Convention Centre offers 406 redesigned guest rooms, including themed family suites, as well as family-friendly facilities on levels 3 and 4, such as a large outdoor pool with water slides and a wet play area, a 13,000 sq. ft. Paradise Trails adventure zone, an indoor Kids Club, a Stay & Play multipurpose function room, and a 24-hour fitness centre. The hotel is also home to Mandara Spa and three halal-certified restaurants, namely Evolution for all-day dining, R Bar and H2O Bar & Grill poolside restaurant. The property also has a 52,000 sq. ft. convention centre featuring a 1,800-seater pillarless ballroom, 26 function rooms and four pre-function lounges with spacious foyers, dedicated audiovisual support, and communal break areas.
SUNSURIA’S UNIT IN PARTNERSHIP WITH ISLAND HOSPITAL TO OPEN FIRST CANCER CENTRE IN PENANG
NST & The Edge, 23/10/2023
Sunsuria Bhd inked a partnership with Island Hospital Sdn Bhd (IH) to open its first cancer centre in Penang. The cancer centre is slated to operate early next year. Icon Sunsuria is a joint venture between Sunsuria Healthcare Sdn Bhd, an indirect wholly owned subsidiary of Sunsuria, and Icon Asia Holdings Pte Ltd, which is part of the Icon Group, Australia’s largest integrated cancer care provider.
PROPERTY TAX HIKE IN JOHOR BAHRU
The Star, 26/10/2023
There has been a recent property evaluation exercise which has resulted in the revisions in the assessment rates by 5 of the 16 local councils in Johor. Property owners will have to pay significantly higher assessments (cukai pintu) for both residential and commercial properties next year.
The last time local councils in Johor – with the exception of the Kulai Municipal Council (MPKu) – conducted a property valuation and tax (rate) adjustment was in 2013. The new assessment will be based on valuations done in 2020. The new property assessment for the Johor Baru City Council (MBJB), Iskandar Puteri City Council (MBIP), Pasir Gudang City Council (MBPG), Kluang Municipal Council (MPK) and Pengerang Municipal Council。
ADDRESSING CONGESTION AT JOHOR CAUSEWAY
NST, 22/10/2023
The total number of travellers at the Sultan Iskandar Building (BSI) and the Sultan Abu Bakar Complex (KSAB) CIQs was 71 million in 2022. This number is based on data collected after the country’s entry points reopened on 1st April 2022. Up to September 2023, the number of travellers at both CIQs had reached 98 million and was expected to continue increasing to about 136 million by the end of 2023, matching the statistics from 2019 (pre-Covid-19). This number of travellers is projected to increase by 15% per year, with an estimated 157 million travellers passing through both entry points by 2025.
JOHOR PROPERTY SALES SET TO BOOM WITH ANNOUNCEMENT
The Star, 23/10/2023
The move to ease the conditions of the Malaysia My Second Home (MM2H) programme coupled with the rise in the cost of rental in Singapore will help to boost the sale of properties in Johor. The Johor Housing and Local Government committee chairman said that between 1Q22 and 1Q23, the number of properties being sold in Johor had increased by 17%. The property overhang issue has almost been resolved with the increase in the purchase of properties in the past year. Based on the data received, a lot of properties are being bought in the state, including by Malaysians working in Singapore as well as Singaporeans.
PLENITUDE’S HIBISCUS IMPIAN HILLS SEES ENCOURAGING TAKE-UP
The Sun, 26/10/2023
Hibiscus, a collection of freehold double-storey terrace homes in the Impian Hills township in Johor Bahru has seen a booking rate of 50% since its launch in August 2023. Nestled in the heart of Ulu Tiram within the expansive 285.5-acre township, the project is being developed by Plenitude Bhd. The completion date for the homes is targeted in 3Q25. There are two types of houses: Type A featuring a land size of 22’ x 75’ and built-up of 2,057 sq. ft. and Type B with a land size of 22’ x 80’ and 2,203 sq. ft. Hibiscus offers ensuite bathrooms for every bedroom, additional family rooms upstairs, interconnected living and dining areas as well as dedicated jogging track and park. The developer’s previous phase, Magnolia has sold out. The development is connected to major expressways including the Senai-Desaru Expressway and Tebrau Highway via Jalan Kota Tinggi.
LONGi MALAYSIA BREAKS GROUND FOR NEW RM1.3 BILLION BINTULU SAMALAJU PLANT
NST & The Edge, 23/10/2023
Photovoltaic panel manufacturer LONGi Malaysia held a ground-breaking ceremony on 20th October 2023 for its new RM1.3 billion Samalaju plant in Bintulu. The project is the first solar manufacturing factory in the Bintulu Samalaju Industrial Park (SIP). The Bintulu monocrystalline ingot manufacturing project covers an area of 125-acre. The SIP was chosen due to its proximity to its raw materials supplier and deep-sea port, as well as for its affordable and sizeable industrial land. Production is expected to begin at the plant in 1Q24.
SARAWAK MEDICAL INNOVATION TECHNOLOGY HUB INKS DEAL WITH EXIM BANK TO DEVELOP GLOVE-MAKING PLANT IN BINTULU
The Edge, 25/10/2023
The Sarawak Medical Innovation Technology Hub Sdn Bhd (SMITH) has entered into an agreement with the Export-Import Bank of Malaysia Bhd (EXIM Bank) to develop a medical glove-manufacturing plant in the state. Formed by the Sarawak Economic Development Corporation (SEDC), SMITH is a medical hub, featuring medical device manufacturing and technology commercialisation categorised under several sectors. The first phase of the project will be a medical glove-manufacturing facility located within the SEDC Petchem Industrial Park, about 10 km from Bintulu Port in Tanjung Kidurong. The development of the glove-manufacturing plant will be implemented in two phases and each phase will involve the construction of four production lines with both having the capacity to produce 104 million pieces of gloves per month.