Week 24 - 2024
WHOLESALE, RETAIL TRADE SALES VALUE HITS RM144.9 BILLION IN APRIL 2024
Edgeprop.my, 11/6/2024 & The Sun, 12/6/2024
Malaysia’s wholesale and retail trade registered sales value of RM144.9 billion in April 2024, higher by 6.6% year-on-year (y-o-y). The increase of 6.6% y-o-y for wholesale and retail trade in April 2024 was driven by retail trade sub-sector, which rose 5.5% or RM3.3 billion to register RM63.8 billion. Wholesale trade also grew by registering 4.8% or RM2.9 billion to RM63.8 billion, followed by motor vehicles with an increase of 18.1% or RM2.6 billion to settle at RM17.3 billion.
The growth of 5.5% y-o-y in retail trade was contributed by retail sales in non-specialised stores which grew 5.2% or RM1.2 billion to RM24.7 billion. Other groups in this sub-sector also recorded positive growth namely retail sales in specialised stores (8.4%), household goods (4.7%), automotive fuel (4.9%), food, beverages & tobacco (7.2%), cultural & recreation goods (5%), retail sales not in stores, stalls or markets (6.4%), information & communication equipment (0.4%), and retail sales in stalls & markets (4%).
In the wholesale trade sub-sector, the increase of 4.8% y-o-y in April 2024 was supported by other specialised wholesale which rose RM1 billion or 4.2% to RM23.9 billion. This was followed by food, beverages & tobacco (6.6%), household goods (4.4%), agricultural raw materials & live animals (6.7%), machinery, equipment & supplies (2.6%), non-specialised wholesale trade (4.7%), and wholesale on a fee or contract basis (3.2%).
In terms of volume index, wholesale & retail trade for April 2024 registered a y-o-y growth of 4.5%. The expansion was attributed to all sub-sectors namely motor vehicles (17.1%), retail trade (3.5%), and wholesale trade (2.7%). The seasonally adjusted volume index, meanwhile, rebounded 5.5% month-on-month.
CONSTRUCTION OF SECOND SUNGAI GOLOK-RANTAU PANJANG BRIDGE LINKING THAILAND TO MALAYSIA TO BEGIN IN APRIL 2025
The Edge, 13/6/2024
Thailand is expected to start the construction of a second bridge project connecting Sungai Golok and Rantau Panjang in April 2025. To be collectively known as the Twin Bridge, an environmental impact assessment (EIA) will be conducted before construction begins. The EIA will commence next month. The new bridge will serve as a second route for border crossing between Thailand and Malaysia.
SP SETIA COMPLETES SALE OF 388 HECTARE LAND IN TEBRAU FOR RM564 MILLION
The Edge, 11/6/2024, NST & The Star, 12/6/2024
SP Setia Bhd has completed the sale of its 959.72-acre (388.38 hectare) land parcel in Tebrau, Johor to Senibong Island Sdn Bhd, a company linked to tycoon Tan Sri Syed Mokhtar Albukhary for RM564 million.
SIME DARBY PROPERTY’S ELMINA RIDGE 1 FIRST STAGE FULLY TAKEN UP
The Sun, 13/6/2024
Sime Darby Property has launched the first stage of Elmina Ridge 1 to a stellar 100% take-up rate. Stage 1 of Elmina Ridge 1 comprises 122 units with a GDV of RM201.7 million. Elmina Ridge 1 offers 228 units consisting of superlink, cluster and semi-detached homes with a total GDV of RM373 million. The Superlink homes boast 4 bedrooms with en-suite bathrooms and a built-up area ranging from 2,265 sq. ft. to 2,697 sq. ft., priced from RM1.2 million. The Cluster homes, with 4+1 bedrooms and 4 bathrooms, have a built-up area of 2,732 sq. ft. and start from RM1.5 million. The semi-D homes come with 4+1 bedrooms, 5 bathrooms and a spacious family area on the first floor, offering a built-up area of 3,237 sq. ft., and is priced from RM2 million.
BRINGING INTERGENERATIONAL LIFESTYLE PRODUCTS TO KLANG
The Edge, 9/6/2024
Paramount Property Development Sdn Bhd is introducing a new residential offering with an intergenerational living concept at its 33.12-acre Berkeley Uptown development on Jalan Goh Hock Huat this June 2024. With a gross development value (GDV) of RM628.64 million, the 7.37-acre Uptown Residences 2 will offer 1,086 residential units across a low-rise building and two towers. There will be a one-acre central park and a 10,000 sq. ft. community space to foster closer ties within the community of residents.
AVALAND TOPS OUT SANDERLING, WILL BE LAUNCHING NEXT PHASE
Starproperty.my, 10/6/2024
Expected to be completed ahead of schedule by 3Q25, property developer Avaland Bhd has topped out the Sanderling Lakefront Residence, which has also been 90% taken up. Located in Cyberjaya, Selangor, Sanderling comprise two towers and a total of 606 units on a freehold development with units ranging from 958 sq. ft. to 1,711 sq. ft. Semi-furnished and meticulously designed to cater to diverse lifestyle preferences, the units feature both 3-bedroom and 3 plus 1-bedroom configurations. The development is next to a 17-acre lake in Cyberjaya and offers a 15-acre facility podium.
Avaland is planning to launch Sanderling 2, the final phase of the LakeFront Residence development. Sanderling 2 will replicate the distinctive features that have made Sanderling so sought after - from its family-friendly built-ups to its strategic location which ensures proximity to educational institutions, renowned corporations, and a wealth of amenities. Moreover, residents will enjoy seamless connectivity to major highways, facilitating effortless travel and enhancing overall convenience.
AVALAND OFFICIALLY LAUNCHES AETAS SEPUTEH WITH 50% TAKE-UP
The Edge, 13/6/2024
Avaland Bhd (KL:AVALAND) officially launched its latest high-rise residential development, Aetas Seputeh, on Thursday, June 13, 2024, in Seputeh, Kuala Lumpur. Aetas Seputeh has been 50% taken up as of June 2024. With a gross development value of RM468 million, Aetas Seputeh comprises 126 units in two towers — a 46-storey Tower A and 38-storey Tower B — and occupies a 1.57-acre plot. Typical unit built-ups are from 3,500 sq. ft., while the penthouses have built-ups of up to 14,869 sq. ft. The selling price starts at RM950 psf and the maintenance fee inclusive of the sinking fund is 50 sen psf. There will be two units per floor, and each unit will have its own private lift foyer.
Aetas Seputeh has received the GreenRE Platinum Provisional Certification. Some of its green features include LED lighting in common areas to reduce 64% of power consumption, water-efficient fittings in units and rainwater harvesting system for landscape irrigation. Facilities in the development include an infinity pool, a jacuzzi, a kids pool, lounge areas, a gymnasium, a yoga pavilion, a private function area and a private kitchen.
Aetas Seputeh is the developer's second project under the Aetas series. The first project, Aetas Damansara was launched in 2021 and has been 100% sold. The developer plans to complete RM1.7 billion worth of projects in the next 18 months and launch a few more projects this year including Anja Residences & Signature Retail mixed-use development in Bangi, Selangor.
IQZAN HOLDING SECURES PROJECT WORTH RM143 MILLION
The Edge, 12/6/2024
Iqzan Holding Bhd (KL:IQZAN) has secured a construction project worth approximately RM143 million via its subsidiary, Kacon Construction Sdn Bhd (KCSB). This project entails the construction of a 24-storey office building on Jalan Tun HS Lee.
SOLARVEST BUYS OFFICE SPACE FROM RELATED PARTY CHIN HIN PROPERTY FOR RM48.73 MILLION CASH
The Edge, 13/6/2024
Solarvest Holdings Bhd is buying four levels of office space with 200 parking bays and a rooftop retail unit in the Solarvest Tower, which is currently under construction, from Chin Hin Group Property Bhd for RM48.73 million. The proposed acquisition is to allow the company to set up its new headquarters and own a permanent business premises for growing its business, operations and staff strength. The total combined built-up area of the acquisition came up to 39,375 sq. ft.
Located within the Bangsar South vicinity, the 34-storey Solarvest Tower is currently under construction and is expected to be completed in March 2028. As at May 23, 2024, the construction works for the tower were approximately 40% completed. The proposed acquisition is expected to be completed by the second half of 2024.
EURO HOLDINGS SELLS RAWANG WAREHOUSE LAND
The Edge, 10/6/2024
Furniture maker Euro Holdings Bhd is disposing of an 86,111.28 sq. ft. industrial land in Rawang, together with a two-storey detached factory and an annexed three-storey office building sited on it, for RM17.3 million, cash. This is part of its business transformation plan to rationalise non-core assets and to move its warehouse from Rawang to its steel furniture manufacturing plant in Melaka.
Euro Holdings said it acquired the property between 1996 and 2004, and the cost of investment was RM2.1 million for the land and RM5.7 million for the buildings erected on the land. The disposal is expected to be completed within the next four months.
KELANTAN TO ESTABLISH HIGH-IMPACT INDUSTRIAL PARK
The Sun, 12/6/2024
The South Kelantan Development Authority (Kesedar), the agency under the Rural and Regional Development Ministry, will establish a high-impact industrial park in Tanah Merah as part of its latest initiative to develop the area, known as Kesedar Industrial Park (KIP) and span between 130ha and 150ha of land with an estimated project value of RM2 billion.
DOMESTIC TOURISM EXPENDITURE SURGES 25.3% IN 1Q24
The Edge, 12/6/2024 & The Star, 13/6/2024
Domestic tourism expenditure in 1Q24 soared 25.3% year-on-year (y-o-y) to RM24.1 billion. The number of domestic visitors in Malaysia experienced a significant surge to record 58.6 million visitors in the period, up 19% compared with 1Q23. For a quarter-on-quarter (q-o-q) comparison, domestic visitors increased by 6.5% as compared to 4Q23.
MAH SING LAUNCHES MAH SING DC HUB@ SOUTHVILLE CITY WITH BRIDGE DATA CENTRES
The Edge, 10/6/2024
Mah Sing Group Berhad (Mah Sing) celebrates a significant milestone with its maiden entry into the data centre sector, launching Mah Sing DC Hub@Southville City, with its first partner Bridge Data Centres (BDC), a company primarily owned by Bain Capital. Mah Sing Group has earmarked 150 acres of land bank at Southville City, its 428-acre integrated freehold township, for further expansion into a leading Data Centre Hub with planned capacity of up to 500MW.
Mah Sing envisions Mah Sing DC Hub@Southville City as a holistic digital infrastructure ecosystem, meticulously designed to accommodate the demands of AI, hyperscale, retail, and enterprise service providers. Expected to be completed in the first quarter of 2025. Mah Sing DC Hub@Southville City’s locational advantage is compounded by the 20km proximity to the existing data centre hubs of both Cyberjaya and Bukit Jalil, creating a strategic triangle of data centre hubs.
IOI PROPERTIES UNVEILS 4.05-HECTARE CENTRAL PARK IN IOI RESORT CITY, PUTRAJAYA
The Edge, 13/6/2024 & The Star, 14/6/2024
IOI Properties Group Bhd has officially opened its 10-acre Central Park in IOI Resort City, Putrajaya. It is adjacent to the Palm Garden Hotel and in close proximity to the IOI City Mall. The park features an open lawn, a playground, a jungle track, a floral garden and various recreational spaces. Its sporting facilities encourage active lifestyles, including a skate and bike park, as well as courts for basketball, badminton and futsal.
PROPERTY INDEX POISED TO CONTINUE SURGE
NST, 11/6/2024
Bursa Malaysia's Property Index continues to trend upwards, closing 29.5% higher to 1,119.28 points last Friday from 864.30 at January 2024. Property transactions had reached RM56.53 billion in 1Q24 from more than 104,000 transactions compared to RM42.31 billion from more than 89,000 transactions in the same period in 2023.
BUILDING INFORMATION MODELLING TO BE IMPLEMENTED AT ALL LEVELS FROM AUGUST 2024
Edgeprop.my, 10/6/2024 & The Sun, 11/6/2024
The recent approval of Building Information Modelling (BIM) at a National Development Action Council meeting will directly help the construction of roads, bridges and buildings in Malaysia. The industrialised building system will be integrated into a new construction technology committee to implement BIM at all levels, particularly for government, government-linked companies and private projects, valued at RM10 million and above, starting in August 2024.
BIM is an initiative supported by the Construction Industry Development Board (CIDB), where all designs of roads, bridges and buildings are used in a digital method and 3D, the implementation has already been initiated but now is being expanded to all levels. Among the benefits of BIM are to reduce design errors, lower construction costs, accelerate the construction of roads, bridges and buildings, and allow transparent information sharing with all parties within the construction experts.
BINTAI KINDEN BAGS RM22 MILLION HOUSING JOBS IN MUAR
The Edge, 11/6/2024 & The Star, 12/6/2024
Bintai Kinden Corp Bhd secured two sub-contract awards totalling RM22.3 million for the construction of double-storey houses in Muar, Johor. The building and infrastructure works will be undertaken for Fershing Property Sdn Bhd.
The first contract, worth RM7.6 million, is to construct eight units of double-storey semi-detached houses at Lot 3712 in Mukim Jalan Bakri. The second contract is to construct 21 units of double-storey terrace houses that will also be located at Lot 3713, Mukim Jalan Bakri. The construction period for the sub-contracts shall be 15 months and is scheduled to be completed by Sept 1, 2025.
CORONATION SQUARE — UNSURPASSED CONNECTION AND LOCATION
The Edge, 10/6/2024
Coronation Square development, located in Bukit Chagar, Johor Bahru, is poised to increase property values and boost revenue for businesses due to its location near the Rapid Transit System (RTS) station (under construction). Developed by Coronade Properties Sdn Bhd, the development sits on 9.58 acres of land and has a gross development value of RM5 billion. The project features six towers and a 700,000 sq. ft. mall with basement parking with about 4,500 parking bays. Some 700 bays are reserved for RTS users. The construction of Coronation Square is progressing well with two of the six towers have been sold.
A 30-storey tower, which is 70% complete, was sold to KPJ Healthcare Bhd. Once operational, it will offer non-ambulatory or non-emergency medical services such as anaesthetic services, dentistry, aged care and paediatrics in purpose-built medical suites. The other tower, bought by Bank Rakyat, is 35-storey and construction is completed. It will be handed over by end of 2024.
The developer has recently inked a memorandum of understanding with Malaysia Rapid Transit System Sdn Bhd to construct a pedestrian overhead bridge (POB), a short distance from Coronation Square, on April 25, 2024. The POB from Coronation Square to the RTS station is 210m and will be constructed by Coronade Properties. Another POB from Persada Johor to Bangunan Sultan Iskandar CIQ is 250m and is funded by the public-private partnership unit Unit Kerjasama Awam Swasta (UKAS).
SCIENTEX PLANS TO BUY LAND IN JOHOR FOR RM381 MILLION
The Edge, 10/6/2024 & The Star, 11/6/2024
Scientex Bhd is proposing to acquire 14 parcels of freehold land in Johor Baru, Johor for RM381.4 million from Lee Pineapple Co (Pte) Ltd, a Singaporean investment holding and oil palm planting company, to be built into a mixed-property development project. With an aggregate area of 350.2568 acres, the 14 parcels of land are surrounded by the existing Sri Pulai Perdana 2 and Bandar Pulai Jaya (due north), Bandar Baru Kangkar Pulai (due north-west) and are located adjacent to the group’s existing developments namely, Taman Pulai Mutiara, Taman Pulai Mutiara 2, and Taman Pulai Duta.
Following an overwhelming response from Taman Pulai Mutiara (its first development in Pulai, Johor), the group continued its expansion in Pulai with the developments of Taman Pulai Mutiara 2 and Taman Pulai Duta. To date, more than 90% of the units launched in Pulai have been sold.
CRESCENDO DISPOSES OF LAND FOR RM116 MILLION
The Edge, 11/6/2024 & The Star, 12/6/2024
Crescendo Corp Bhd (CCB) is disposing of a 20.463 acre plot of vacant industrial land in Johor Baru to Digital Halo Pte Ltd for RM115.88 million.
ECOWORLD MALAYSIA SELLS LAND FOR RM402 MILLION
The Edge, 10/6/2024 & The Star, 11/6/2024
Eco World Development Group Bhd (EcoWorld Malaysia) is disposing of industrial land measuring 123.141 acres in Kulai, Iskandar Malaysia, to Microsoft Payments (M) Sdn Bhd for RM402.3 million. The land is located within its Eco Business Park VI (EBP VI) development.
The proposed land sale marks the first transaction for EBP VI, less than six months since EcoWorld Malaysia completed the acquisition of the land on Jan 18, 2024. The presence of an internationally recognised technology leader choosing to set up a sizeable data centre here will further drive demand for EBP VI’s other industrial products.
UEM SUNRISE TO SELL JOHOR LAND FOR RM144.9 MILLION TO DATA CENTRE COMPANY
The Edge, 11/6/2024
State-owned property developer UEM Sunrise Bhd (KL:UEMS) is selling land for RM144.9 million cash to a data centre company, LOGOS Infrastructure Holdco Pte Ltd to develop a data centre campus in Gerbang Nusajaya, Iskandar Puteri, Johor. The two parcels of freehold land measuring about 28.9 acres (11.7 hectares) will be developed for the construction of a data centre, which is "expected to feature cutting-edge technologies”.
MKS INSTRUMENTS TO BUILD FACTORY IN PENANG
The Edge &The Star, 11/6/2024 & NST, 12/6/2024
MKS Instruments Inc (MKS), a global technology solutions provider, will build a facility in Penang to support wafer fabrication equipment production in the region and globally. The company plans to construct the new facility in three phases, with groundbreaking expected to commence in early 2025.
