Week 31 - 2024
MALAYSIA'S POPULATION ESTIMATED AT 34.1 MILLION IN 2024
The Edge, 01/08/2024
Malaysia’s total population is estimated at 34.1 million in 2024, compared with 33.4 million in 2023, with a growth of 1.9%, based on the current population estimate released by the Department of Statistics Malaysia. The population of citizens increased from 30.4 million in 2023 to 30.7 million in 2024, with a slower growth rate 0.7% from 0.8% in the preceding year. Similarly, non-citizens showed the same trend, with a slower growth rate of 13.6% in 2024, compared with 17.1% in 2023. The three states with the highest population percentage in 2024 are Selangor (21.6%), Johor (12.3%) and Sabah (11.0%), while Labuan at 0.3% and Putrajaya at 0.4% have the lowest population percentages. The composition of the population aged zero to 14 years (young age) decreased to 22.2% in 2024, from 22.7% in 2023. The composition of population aged 15 to 64 years (working age) increased from 69.9% in 2023 to 70.1% in 2024, while the percentage of the population aged 65 years and over (old age) increased from 7.4% to 7.7%. Bumiputera account for 70.4% out of 30.7 million citizens in 2024 (2023: 70.1%), with the composition of the Chinese and Indians decreased to 22.4% (2023: 22.6%) and 6.5% (2023: 6.6%) respectively. In terms of gender, males outnumbered females at 17.9 million against 16.2 million in 2024, with the sex ratio for the overall population being 111 males for every 100 females.
TOTAL TRADE FOR JUNE 2024 AMOUNTS TO RM237.8 BILLION
The Sun, 29/07/2024
Malaysia recorded another month of increased trade in June, with an 8.7% year-on-year (y-o-y) expansion to RM237.81 billion. The Ministry of Investment, Trade and Industry (Miti) reported that the country's exports grew 1.7% to RM126.05 billion during the month while imports jumped 17.8% to RM111.76 billion for a trade surplus of RM14.29 billion.
The increase in exports was attributed to the higher exports in most states such as Penang (+RM2.0 billion), Terengganu (+RM1.3 billion), Perak (+RM767.0 million), Selangor (+RM403.1 million), Sarawak (+RM397.6 million), Kedah (+RM337 million), Kelantan (+RM122.1 million) and Johor (+RM112.2 million). However, exports decreased in W.P. Labuan by RM1.7 billion, Pahang (-RM1.2 billion), Malacca (-RM312.0 million), Negeri Sembilan (-RM206.7 million), Sabah (-RM71.6 million), W.P. Kuala Lumpur (-RM54.4 million) and Perlis (-RM23.6 million). Penang remained as the top exporter with 34.2% share, followed by Johor (20.6%), Selangor (17.3%), Sarawak (6.5%) and W.P. Kuala Lumpur (4.2%).
Imports in June 2024 increased by RM16.9 billion (+17.8%) as compared in June 2023. The increase in imports was attributed by the higher imports in most states such as Johor (+RM4.6 billion), Penang (+RM4.1 billion), Selangor (+RM3.3 billion), Kedah (+RM2.3 billion), W.P. Kuala Lumpur (+RM1.5 billion), Negeri Sembilan (+RM1.2 billion), Terengganu (+RM101.4 million), Perlis (+RM82.3 million) and Kelantan (+RM36.6 million). However, imports decreased in Malacca by RM3.5 billion, Sarawak (-RM264.5 million), Perak (-RM249.1 million), Sabah (-RM170.6 million), W.P. Labuan (-RM110.5 million) and Pahang (-RM5.2 million). Selangor dominates Malaysia’s imports with a share of 25.5%, followed by Johor (23.3%) and Penang (20.9%).
LRT3 EXPECTED TO BE OPERATIONAL IN 3Q25
The Edge, 30/07/2024
Construction work on the Light Rail Transit 3 (LRT3) from Bandar Utama to Johan Setia in Selangor has reached 95.6% and the line is expected to be operational in 3Q25. The construction work on the alignment, which includes the building of 20 stations, is expected to be completed in October 2024. This will be followed by system integration work, which is expected to take several months until early 2025.
MALAYSIA’S AIR PASSENGER TRAFFIC SURGES IN 1H24
The Sun & The Star, 02/08/2024
Malaysia’s total air passenger traffic reached 46.6 million in 1H24, marking a 15.3% increase year-on-year (y-o-y) from the 40.4 million recorded in 1H23. The international air passenger traffic was particularly strong, standing at 24 million, up by 35.9% from 17.6 million in 1H23. However, domestic passenger traffic decreased marginally by 0.7% y-o-y to 22.6 million passengers from 22.8 million in 1H23.
Air traffic in June 2024 saw a significant uptick with passenger numbers climbing to 8.1 million, a 12.1% y-o-y increase from June 2023 and a 2.3% month-on-month (m-o-m) increase from May 2024. This increase is attributed to several public holidays driving domestic travel, with domestic passenger traffic rising by 4.2% m-o-m, from 3.9 million in May 204 to 4.1 million in June 2024.
CYBERVIEW SIGNS THREE MOUS TO MAKE CYBERJAYA A GLOBAL TECHNOLOGY HUB
The Star & The Edge, 27/07/2024
Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub. The companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology & Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia. Through the MOU with SIDEC, Cyberview plans to advance the semiconductor sector by creating a research and development (R&D) centre as well as creating a training centre for graduates and engineers in the field. The collaboration with Equinix will further enhance Cyberjaya as an investment destination in the field of technology in Malaysia with an investment value of approximately RM1 billion. Digital economy requires digital infrastructure such as data centres. This cooperation is also in line with the desire of the state and federal governments to make the country a global technology hub. The cooperation with the three companies involved will increase high-paying job opportunities, especially in the Cyberjaya area.
EKOVEST DISPOSES OF MORE LAND IN KL IN RELATED PARTY TRANSACTION
The Edge, 30/07/2024
Infrastructure and construction group Ekovest Bhd said it is disposing of another four parcels of land along Jalan Pahang in Kuala Lumpur, measuring a total of 24,606 sq. ft. The disposal of the parcels to Airman Sdn Bhd, a wholly owned subsidiary of Lim Seong Hai Holdings Sdn Bhd (LSHHSB), for RM9.82 million is deemed a related party transaction. On 22nd February 2024, Ekovest had divested 13 parcels of land measuring a total of 3.1 acres land in the same area to LSHHSB, for RM66.8 million. The land is located on the left side of Jalan Pahang, when travelling from Kuala Lumpur city centre and Bulatan Pahang towards Gombak and Setapak localities.
BUKIT BAYU A PERFECT BLEND OF NATURE AND LUXURY
NST, 27/07/2024
Bukit Bayu in U10, Shah Alam is a luxury property development which is being developed by Kimlun Land Sdn Bhd in five phases. The company is finalising Phase 2A, which includes 16 units slated for completion by the end of 2025. Each bungalow sits on land ranging from 7,500 sq. ft. to 11,000 sq. ft., with a built-up area of between 6,900 sq. f.t and 7,000 sq. ft. Starting at RM2.8 million, these spacious homes feature six-plus- one rooms, including an entertainment room and a maid's room. Residents will also have access to a beautiful clubhouse with various facilities, including pools for adults and children, a yoga deck surrounded by greenery, a BBQ area for gatherings and a serene two-acre dragonfly lake with a jogging track. The property was nestled next to the Bukit Cherakah Forest reserve, which offered residents natural breeze and fresh air.
KUMPULAN KITACON SECURES RM54.5 MILLION JOB TO BUILD HOUSES IN RAWANG
The Edge, 27/07/2024
Kumpulan Kitacon Bhd has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor. The contract to build the houses in Bandar Tasik Puteri was awarded to its subsidiary Kitacon Sdn Bhd by Rawang Lakes Sdn Bhd. The contract will commence on 1st August 2024 and be completed within 20 months.
ADVANCECON WINS RM38.25 MILLION BANDAR BUKIT RAJA TOWNSHIP PROJECT
The Sun, The Edge & The Star, 31/07/2024
Advancecon Holdings Bhd has accepted the Letter of Acceptance (LOA) from Sime Darby Property (Bukit Raja) Sdn Bhd as the contractor for the construction and completion of earthworks and ancillary works for Phase 4B (i17), Bandar Bukit Raja Stage 3, in Klang for a total of RM38.25 million. The construction group’ s unit Advancecon Infra Sdn Bhd (AISB) had accepted the LOA for the contract that runs from 14th August 2024 until 13th February 2026.
TCS UNIT WINS RM130.15 MILLION BUILDING WORKS CONTRACT
The Star & The Edge, 31/07/2024
TCS Group Holdings Bhd has secured a RM130.15 million contract to undertake the construction of serviced apartments in Selangor, in a related party transaction. The 630-unit serviced apartment project, known as Arcadia Residences, is located in the Kuala Langat district. The three-year contract was awarded by Saujana Permai Development Sdn Bhd, a wholly owned subsidiary of CDB Group Holdings Sdn Bhd.
MAJESTIC GEN MARKS TOPPING OUT OF MAJESTIC RESIDENCE IN KUALA LUMPUR CITY CENTRE
The Edge & Starproperty.my, 30/07/2024
Majestic Gen Sdn Bhd (formerly known as Majestic Builders of the Majestic Group) conducted a topping-out ceremony for Majestic Residence. The high-rise luxury residential development is located in Jalan Dewan Sultan Sulaiman and scheduled to be completed by 1Q26. With a gross development value (GDV) of RM384 million, Majestic Residence sits on a 0.66-acre freehold parcel. The 33-storey residential tower offers 478 units, with built-ups ranging from 459 to 654 sq. ft. The development is fully sold.
Meanwhile, the developer also revealed plans for new projects set to launch in 3Q24. This includes Majestic Elit, a landed-residential development in Seremban catering to the National Affordable Housing Scheme, with a GDV of RM71 million. In addition, there will be the Gen Starz project in Old Klang Road offering 360 units of serviced apartments, with a GDV of RM272 million.
TITIJAYA UNVEILS THE RIA SERVICED APARTMENTS
The Edge, 30/07/2024
Titijaya Land Bhd unveiled its latest serviced apartment development called The Ria on 27th July 2024. The Ria is a 63-storey development with a total of 752 units in two- to three-bedroom configurations and built-ups ranging between 650 to 800 sq. ft. With a gross development value (GDV) of RM588 million, the project is priced from RM685,000. As the second phase of Riveria City, a transit-oriented development (TOD) jointly developed by Titijaya and Prasarana Integrated Development Sdn Bhd, The Ria is located in KL Sentral, Kuala Lumpur. Titijaya also announced the completion of the first phase of Riveria City — The Riv, a 54-storey development which has 784 office suites and is fully sold. It has a GDV of RM374 million.
AVALAND TOPS OUT ALIRA SUBANG JAYA WITH 95% SOLD
The Edge, 31/07/2024
Avaland Bhd topped out Alira Subang Jaya, a serviced residence in Tropicana Metropark, Subang Jaya, which has achieved a 95% sales rate. With a gross development value (GDV) of RM578 million, the freehold Alira Subang Jaya comprises two towers offering 832 units with built-ups ranging from 695 sq. ft. to 1,048 sq. ft. The selling price starts from RM570,000 per unit and the project is expected to be completed by November 2025. Alira Subang Jaya offers 60 facilities, including a swimming pool, spa, gymnasium, mini library and singing lounge.
Avaland’s second project in Tropicana Metropark, namely Amika Residences, has achieved a 65% sales rate since its launch in March 2024. The 468-unit serviced residence project has a gross development value (GDV) of RM452 million.
MENARA PJD FOR SALE
NST, 27/07/2024
Menara PJD, a freehold, 28-storey office building located along Jalan Tun Razak in Kuala Lumpur, is back on the market. Developed by PJ Development Holdings Bhd (PJD), the building occupies 47,339 sq. ft. of land and offers a net lettable area of around 445,111 sq. ft. According to a recent listing on a property portal, Menara PJD is fully tenanted and is being offered for sale at RM289 million, equating to just under RM650 per sq. ft. This is not the first time Menara PJD has been up for sale. In 2014, PJD's wholly owned subsidiary, PJD Land Sdn Bhd, entered into a sale and purchase agreement with Able Starship Sdn Bhd, a property company, to sell the building for RM220 million.
BURSA MALAYSIA WILL ONLY SHIFT ITS 'FRONT OFFICE' TO TRX, NOT ENTIRE OPERATION
The Edge, 01/08/2024
Bursa Malaysia Bhd will only move its “front office” to the Tun Razak Exchange (TRX), not its entire operation, according to its chairman. The front office includes the stock exchange operator's marketing segment which will provide visibility and branding for Bursa Malaysia at TRX. Beyond that, the “bulk of Bursa Malaysia’s operations will remain in the current headquarters. In July 2024, Bursa Malaysia confirmed that it is in final negotiations with Mulia Property Development Sdn Bhd (the developer of The Exchange 106) to move its headquarters to TRX. Bursa Malaysia revealed that it will likely occupy two storeys of The Exchange 106 if the discussion materialises.
EMART24 RAMPS UP EAST COAST EXPANSION
The Sun, 02/08/2024
Popular Korean convenience store emart24 plans to open 17 more outlets in the East Coast in 2024 due to strong customer demand for its affordable Korean street food and drinks made from halal ingredients. emart24’s plan to increase its East Coast outlets from the current 28 to 45 by the end of 2024 will also create hundreds of jobs for locals. Its stores in East Coast now serve almost 300,000 customers each month. emart24 now has 65 stores in Malaysia and plans to expand its network to 300 within five years.
MORE MYNEWS, CU MART OUTLETS TO OPEN IN EAST COAST IN 2H24
NST & The Star, 27/07/2024
Convenience store chain operator Mynews Holdings Bhd is focused on expanding its footprint in Peninsular Malaysia's East Coast region in 2H24 as part of its growth and return-to-profitability strategies. The company will be merging the operations teams for the brands under the company, mynews and Korean convenience store brand CU Mart. The group have planned outlet openings notably in Kelantan and Pahang, and while the initial aim was 100 new stores, amended it to at least 80 new outlets in 2024. The home-grown company is working on pushing CU Mart in the market despite a delay of an additional year-and-a-half in its gestation period due to the COVID-19 pandemic, compared to the average three-year breakeven for developing a new brand.
The group has two key distribution facilities in Selangor – a cold distribution centre (DC) in Kota Damansara and a dry DC in Rawang and a central kitchen located in Kota Damansara which spans 3 acres (130,000 sq. ft). The central kitchen is split into two operations, with Mynews Kineya Sdn Bhd manufacturing ready-to-eat meals and Mynews Ryoyupan Sdn Bhd preparing freshly baked items, all of which are then distributed to mynews and CU Mart stores nationwide. Mynews Ryoyupan and Mynews Kineya are under the umbrella of Mynews Food Sdn Bhd, a subsidiary of Mynews Holdings, which holds a 51% stake in both companies. There is an ample room for production expansion in the current plant, as the central kitchen is only running at 70% of its total capacity.
SUNWAY MALLS BREAKS GROUND FOR SUNWAY IPOH MALL AT SUNWAY CITY IPOH
The Edge, 02/08/2024
Sunway Malls, the retail arm of Sunway Bhd has commenced the construction of Sunway Ipoh Mall, which is part of the larger Sunway City Ipoh township development in Ipoh, Perak. Sunway City Ipoh is a 1,350-acre township comprising residential, commercial, educational and hospitality components. With a total development cost of over RM1 billion, Sunway Ipoh Mall will be developed on an 18.88-acre parcel and will span over one million sq. ft. of net lettable area (NLA) across four storeys. The mall will comprise 350 retail lots and 3,000 carpark bays. The mall is expected to complete in 2027 and will house Perak’s first ice-skating rink, an exhibition centre, a 36-lane bowling centre, a multipurpose sports centre, a gourmet garden, and a 10-hall cinema with a seating capacity of approximately 1,500. The developer will be rolling out projects worth RM4 billion in gross development value over the next 10 to 15 years. Some upcoming developments will include Sunway University, a hotel and a convention centre. Sunway Medical Centre Ipoh, which is currently under construction, is on track to be open and fully operational by early 2025. To date, about 950 acres of Sunway City Ipoh have been developed, with the remaining 400 acres expected to be developed over the next two decades.
TUJU RESIDENCES & RETAIL OFFERS DISTINCTIVE URBAN LIVING
The Sun, 01/08/2024
Distinctive World Sdn Bhd revealed its TuJu Residences & Retail at KL Duta North, a mixed residential development that will redefine urban living in Kuala Lumpur through its striking architectural design. With a GDV of RM750 million, TuJu Residences spans 4.52 acres and comprises 932 spacious residential units alongside 38 retail units. This intentionally low-density development houses two blocks (41 storey), each with 466 units. Block B was launched in March 2024, while Block A is set to launch in 4Q24. TuJu is the maiden project of Distinctive World, a joint venture between Distinctive Capital Sdn Bhd and Eccaz Sdn Bhd. TuJu Residences offers a variety of unit configurations catering to single individuals, extended families, and holistic senior living. With 10 distinct layouts, individual units range from 710 sq. ft. to 1,442 sq. ft, featuring 1- to 4-bedroom offerings and priced from an affordable RM440,000. Promoting sustainability, the car parks will be EV-friendly, and owners may apply for their own EV wall boxes.
NCT GROUP SIGNS FIVE MOUS WORTH RM25 MILLION TO ENHANCE NCT SMART INDUSTRIAL PARK
The Edge, 30/07/2024
NCT Group via its subsidiary NCT Smart Management Sdn Bhd has signed five memoranda of understanding (MOUs) with five different companies worth RM25 million to enhance its NCT Smart Industrial Park (NSIP) in Sepang. NSIP is a 732-acre industrial park with a gross development value of RM10 billion. The project is being developed in three phases, of which the first phase spanning 250 acres has received 60% bookings. The park features several infrastructures, artificial intelligence-managed facilities, smart surveillance and environmentally friendly initiatives such as solar energy utilisation and rainwater collection systems. The five companies — Honor Aigrafx Innovative Intelligence International Pte Ltd, Harta Maintenance Sdn Bhd, JMM Lightings Sdn Bhd, Zinxer Paint Marketing Sdn Bhd and OK Coating Sdn Bhd.
Under the MOUs, Honor Aigrafx will introduce meta-experience technology systems to NSIP, of which transformative technology is expected to create numerous collaboration opportunities and enhance processes, ultimately fostering an improved working environment at NSIP. Harta Maintenance will develop comprehensive energy management solutions to optimise energy consumption and substantially reduce costs at the facility. JMM Lightings will supply essential building materials that will facilitate the park’s construction and operational requirements. This collaboration is expected to enhance the overall energy efficiency of the park. Zinxer Paint will ensure the supply of high-quality decorative and industrial coatings for NSIP while OK Coating will supply premium wood and metal surface coatings as well as protect the park from environmental damages, further enhancing the long-term durability and sustainability of the overall development.
GOODYEAR SEEKING BUYERS FOR ITS SHAH ALAM FACTORY
The Edge,31/07/2024
American tyre company Goodyear has put its factory in Shah Alam’s Section 15 up for sale, following its March 2024 decision to shut down its manufacturing facility in Malaysia as part of its cost restructuring efforts. Tenderers have been invited for the 29.3-acre prime industrial parcel with the address at Lot 51, Persiaran Selangor, Section 15, Shah Alam, Selangor. ft. Located in a mature industrial zone in Shah Alam, the site has great accessibility via major highways such as the Federal Highway.
CONSTRUCTION OF RM1.6 BILLION GDV LEXIS HIBISCUS 2 RESORT WILL BE COMPLETED IN 2029
NST, The Edge & The Sun, 27/07/2024
The prestigious five-star Lexis Hibiscus 2 luxury resort in Port Dickson is currently under construction by the KL Metro Group and is expected to be completed by 2029. The construction of the 80 acres resort, which has a gross development value (GDV) of RM1.6 billion, is a strategic collaboration between KL Metro Group and Menteri Besar Negeri Sembilan Incorporated. The construction has provided 5,000 job opportunities to locals and will also contribute towards enhancing the state’s tourism sector. The resort’s completion will see Lexis Hibiscus 2 as the largest water home development in the world and the resort will strengthen Port Dickson as a prime destination for tourism, luxury vacations as well as meetings, incentives, conferences and exhibitions events, attracting up to 1.1 million domestic and international tourists a year.
YONG TAI SELLS COURTYARD BY MARRIOTT MELAKA FOR RM160 MILLION
The Edge, 01/08/2024
Yong Tai Bhd said that it is selling its five-star hotel Courtyard by Marriott Melaka for RM160 million. The company is selling the 248-room hotel, which started operating in April 2023 and had a net book value of RM113.84 million based on the company's 2023 annual report. Yong Tai’s wholly owned subsidiary Apple 99 Development Sdn Bhd had entered into a conditional sale and purchase agreement with Southern Envoy Sdn Bhd (SESB) for the proposed asset disposal.
FAIRFIELD BY MARRIOTT OPENS NEW HOTEL IN TERENGGANU
The Edge, 01/08/2024
Fairfield by Marriott announced the opening of its third hotel in Kuala Besut, Terengganu, Malaysia. Fairfield by Marriott is the second largest brand within Marriott Bonvoy’s global portfolio with a footprint of over 1,280 properties. Located in Kuala Besut, Terengganu, Fairfield by Marriott Kuala Besut offers 98 standard, deluxe and premium rooms as well as a Solo’s Traveler’s Pod to cater to business and leisure travellers who are keen on exploring the East Coast region of Peninsular Malaysia. Facilities in the hotel include an all-day dining restaurant (Fairfield Kitchen) and a 24-hour fitness centre. Guests also have access to the Perhentian Marriott Waiting Lounge that provides concierge services to assist with their travel plans. Apart from Fairfield by Marriott Kuala Besut, the other two hotels under the hotel brand are Fairfield by Marriott Chow Kit Kuala Lumpur in Kuala Lumpur, and Fairfield by Marriott Bintulu Paragon in Sarawak.
KPKT HAS REVIVED 704 SICK, ABANDONED HOUSING PROJECTS AS OF JUNE 2024
The Edge, 02/08/2024
The Ministry of Housing and Local Government (KPKT) has revived 704 sick and abandoned private housing projects through the Task Force on Sick and Abandoned Private Housing Projects (TFS) as of June 2024. The recovery involved 82,101 housing units with a gross development value of RM58.94 billion. KPKT will continue to implement improvements to reduce problematic projects and aim for zero abandoned housing projects by 2030.
ASTAKA KICKSTARTS PHASE 3 OF ONE BUKIT SENYUM IN JB
The Sun, 01/08/2024
Astaka Holdings Ltd, an integrated property developer based in Johor has kickstarted Phase 3 of One Bukit Senyum, the group’s flagship development with the formation of a joint venture (JV) involving a wholly owned subsidiary of Kimlun Corporation Bhd, an engineering and construction group and Seaview Holdings Sdn Bhd, a real estate investor in Malaysia. The JV will undertake the development of Arden @ One Bukit Senyum, being the first project under Phase 3 of One Bukit Senyum. Arden has a GDV of RM600 million and comprises 600 units of premium serviced residence in a skyscraper building. Built-up areas will range from 750 sq. ft. to 1,650 sq. ft. priced at around RM1,300 to RM1,500 per sq. ft. The project is slated to launch in 4Q24, with construction expected to be completed within 48 months.
PARAGON GLOBE BUYS MORE LAND IN PLENTONG, JOHOR BAHRU, TO BE DEVELOPED INTO INDUSTRIAL AREA
The Edge & The Star, 30/07/2024
Johor-based developer Paragon Globe Bhd is buying more land in Plentong, Johor Bahru, for RM34.96 million cash, as it looks to further enhance its presence in the state. Paragon Globe’s wholly owned subsidiary Paragon Business Hub Sdn Bhd is acquiring two parcels of freehold land, measuring approximately 11.09 acres and 8.24 acres respectively from EKL Holdings Sdn Bhd. Paragon Globe said the land will be used to develop 64 units of terraced factories, 20 units of semi-detached factories and five units of detached factories, with an estimated total gross development value of RM293.52 million and an expected gross development cost of RM226.72 million. The proposed development is expected to commence in March 2025, and envisaged to take three years to complete. The land is situated right next to the land area that Paragon Globe has been accumulating over the past few months.
ECOWORLD MALAYSIA UNVEILS QUANTUM HIGH-TECH INDUSTRIAL PARK SERIES WITH FIRST PROJECT IN KULAI, JOHOR
The Sun, The Edge & The Star, 02/08/2024
Eco World Development Group Bhd launched its latest industrial park series, QUANTUM. QUANTUM is designed to cater to companies specialising in AI (artificial intelligence), cloud computing, high-tech manufacturing and research and development, differentiating QUANTUM from EcoWorld Malaysia’s existing business parks, which cater to conventional manufacturers. The first business park to represent the developer's new QUANTUM concept is its Eco Business Park VI in Kulai, Johor, which will be rebranded and renamed as QUANTUM Edge. The 403-acre QUANTUM Edge business park is poised to be among the largest digital and high-tech hubs by a private developer in Malaysia and it will be anchored by Microsoft Payments (Malaysia) Sdn Bhd, which has purchased 123 acres of land in June 2024 worth RM402.3 million within the park.
AIRTRUNK OPENS AI-READY DATA CENTRE IN JOHOR BAHRU
The Sun, The Edge & The Star, 31/07/2024
Sydney-based Asia Pacific and Japan (APJ) hyperscale data centre specialist AirTrunk has commenced operations in Malaysia, at its 150 megawatt (MW) hyperscale data centre in Johor Bahru named AirTrunk JHB1 (JHB1). The new state-of-the-art facility features an artificial intelligence (AI)-ready design with AirTrunk’s first deployment of direct-to-chip liquid cooling technology alongside traditional indirect evaporative cooling and high-density racks. Spanning over 26 acres of land, JHB1 is strategically located in Johor Bahru. Servicing a major cloud availability zone, the data centre offers strong domestic and international connection to regional technology hubs, including neighbouring Singapore, with an end-to-end cross-border connection strategy. With a focus on accelerating the energy transition and supporting energy reliability, AirTrunk worked with Tenaga Nasional Bhd to connect JHB1. This follows a memorandum of understanding with TNB signed in 2023 that will see the two companies advance the energy transition in the region. Earlier this year, AirTrunk also announced the first renewable energy virtual power purchase agreement for a data centre for 30MW of renewable energy, under Malaysia’s Corporate Green Power Programme.
PROPERTY BOOM IN JOHOR
The Star, 27/07/2024
More than 2,000 units of unsold serviced apartments in Johor have been snapped up since 2023. The property overhang issue in Johor has been improving steadily since the start of last year with the announcement of Johor Singapore Economic Zone (JSEZ) has further boosted sales. Some developers were able to sell all their properties that they were not able to before. According to the Johor State housing and local government committee chairman, serviced apartments priced at RM600,000 and above make up the majority of Johor’s overhang while serviced apartments above half a million ringgit are rather challenging to sell. There are currently about 11,000 unsold serviced apartment units in Johor which is a drop from about 13,000 earlier in 2023. The move to ease the conditions of the Malaysia My Second Home (MM2H) programme last year has also helped to reduce the overhang.
PHASE 1A OF PAN BORNEO SABAH AT 77.41% COMPLETION, READY IN 2026
The Edge, 30/07/2024
The work progress of Phase 1A of the Sabah Pan Borneo Highway is now at 77.41% and is expected to be completed by 2026. Work on Phase 1A of the highway involves 15 packages, of which four have been completed. The delay in the construction of Phase 1A of the Sabah Pan Borneo Highway was due to several factors, including coordination problems between parties involved in the project, especially contractors, government agencies and consultants. Phase 1B of the highway project is at a tender process.