Week 33 - 2024
MANUFACTURING SALES FOR JUNE 2024 UP 5.9%
The Star, 10/8/2024
Malaysia’s manufacturing-sector sales increased 5.9% year-on-year (y-o-y) to RM156.1 billion in June 2024, maintaining its positive trend since January 2024. The increase was primarily driven by the electrical and electronics products sub-sector, and supported by the food, beverages and tobacco sub-sector, and the non-metallic mineral products, basic metal and fabricated metal products. In 1H24, the value of the manufacturing-sector sales reached RM921.5 billion, representing a growth of 3.7% year-on-year.
JOBLESS RATE STABLE AT 3.3% IN JUNE 2024
The Star, 10/8/2024
Malaysia’s unemployment rate in June 2024 remained unchanged from the preceding month at 3.3%. Positively, the total number of unemployed individuals in June declined to 565,300 from 566,100. The country’s labour force remained in a positive growth trend with a marginal increase in the number of employed persons, rising to RM17.17 million from RM17.15 million in May 2024, whilst the labour-force participation rate improved to 70.4% from 70.3%.
MPOB: MALAYSIAN PALM OIL EXPORTS UP 39.9% TO 1.69 MILLION TONNES IN JULY 2024
The Edge, 12/8/2024
Malaysia’s palm oil exports surged 39.92% to 1.69 million tonnes in July 2024 from 1.21 million tonnes in June 2024. Total processed palm oil imports declined by 14.98% month-on-month (m-o-m) to 9,979 tonnes in July 2024 from 11,738 tonnes in June 2024, while palm oil imports slid 10.69% m-o-m to 10,483 tonnes in July 2024, from 11,738 tonnes in June 2024.
TRIAL BUS LANE PROJECT TO BEGIN ON AUGUST 15, 2024
The Sun, 12/8/2024
The operator of Rapid KL bus transport services and MRT feeder buses Rapid Bus Sdn Bhd will launch a trial bus lane project in Jalan Klang Lama in collaboration with the Kuala Lumpur City Hall on August 15, 2024. The 6.37km-long bus lane will start from Jalan Puchong to Jalan Klang Lama off Jalan Halimahton and operate at peak hours from 6am to 9am from Monday to Friday, except on public holidays. This bus lane trial project would benefit the community around Puchong, Sri Manja, Taman Kinrara, Taman Desa, Taman OUG and Jalan Kuchai Lama, involving 42 buses from six routes.
The bus routes include 600 (Puchong Utama Hub-Pasar Seni Hub), 640 (Seri Manja Hub-Pasar Seni Hub), 650 (Taman Desa-Pasar Seni Hub) 641 (Pearl Point-LRT Subang Jaya) 651 (Pearl Point-LRT Muhibbah) and 652 (Batu 3 Jalan Klang Lama, BHP-Awan Besar LRT).
SIGNATURE INTERNATIONAL SELLS TECHPARK LAND FOR RM25.7 MILLION
The Edge, 13/8/2024
Kitchen cabinet manufacturer Signature International Bhd (SIGN) is selling two parcels of freehold land within an industrial park Techpark @ Enstek Phase 2 in Negeri Sembilan for RM25.7 million cash or RM59 per sq. ft.
M AZURA APARTMENT PROJECT LAUNCHED
Edgeprop.my, 14/8/2024 & NST, 15/8/2024
Mah Sing Group Bhd launched its latest services apartment project named M Azura in Setapak, Wangsa Maju. The RM508 million development M Azura development comprises two 40-storey towers with 570 units in each tower, totalling 1,140 units, and selling price starts from RM378,930.
TITIJAYA UNVEILS 264 @ SEIRING IN DAMAISURIA DEVELOPMENT
Edgeprop.my, 15/8/2024
Titijaya Land Berhad unveiled 264 @ Seiring serviced apartments with a GDV of RM71 million, located within the township of Damaisuria in Bukit Subang. The project will have a total of 264 units measuring 550 sq. ft. and selling price of RM 270,000. The project achieved 85% of take-up rate. Titijaya expected to handover Tower A of Seiring Residensi by 2Q25. Seiring Residensi consists of 370 units sized from 666 to 972 sq. ft. spread over four towers, with a GDV of RM677 million. The selling price starts from RM459,300.
Damaisuria development has accessibility to major highways such as New Klang Valley Expressway, North-South Central Link and Damansara-Shah Alam Elevated Expressway.
ECOWORLD SIGNS AGREEMENT WITH JAYA GROCER TO SET UP AT SE.DUDUK D’ KAJANG PROJECT
The Edge, 13/8/2024
Eco World Development Group Bhd (ECOWLD) has signed a memorandum of agreement with Jaya Grocer to introduce the premium grocery store at its Se.duduk D’ Kajang high-rise development in Kajang, Selangor. Jaya Grocer will occupy eight retail units or approximately 15,000 sq. ft. within the 25-unit Se.duduk Square, a 96,000 sq. ft. commercial hub that is a part of the Se.duduk D’ Kajang development.
MYTOWN SHOPPING CENTRE ACHIEVES 98% OCCUPANCY WITH NEW TENANTS AND INCREASE OF SALES BY 15% IN 1H24
The Edge, 13/8/2024
MyTOWN Shopping Centre has achieved an occupancy rate of 98%, following the entry of 27 new tenants in 1H24. The new tenants include Victor Malaysia, Infinity by DeGem, Alha Alfa, HONOR, Famous Amos, Bask Bear Coffee & Toasties, Coffee Bean & Tea Leaf, Signature Kitchen, Baseball Cage and Aplus Go Babyland. With its total retail space of 1.6 million sq. ft., MyTOWNKL is looking to receive more tenants in the coming months including OPPO, JD Sports, Mi, Hong Men Palace and Simply Home.
PKNS-HCK CAPITAL GROUP TO DEVELOP E.SENTRAL SMART CITY IN SUBANG PERDANA
The Edge, 15/8/2024 & The Star, 16/8/2024
The Selangor State Development Corporation (PKNS) will jointly develop the e.Sentral smart city project with property developer HCK Capital Group Bhd in Subang Perdana. The “mixed-used” development will spread over 10 acres of land and comprises of two phases. The first phase is expected to begin next month. The entire project is expected to be completed within three-and-a-half years, offering 3,000 units (housing and shoplots) for both phases, at an offer price of between RM300,000 and RM550,000. The e.Sentral development will offer advanced features, including car plate recognition at barrier gates, facial recognition in lobbies, and motion sensor technology to cut energy consumption.
KITACON WINS RM111 MILLION CONSTRUCTION JOB
Edgeprop.my, 12/8/2024 & The Star, 13/8/2024
Kumpulan Kitacon Bhd has accepted a letter of award from Sime Darby Property (Bukit Raja) Sdn Bhd for main building works of factories in Klang, Selangor, worth RM111.23 million. The contract is for the proposed construction and completion of 27 units of detached factories with two-storey office, one detached factory with two-storey office and two Tenaga Nasional Bhd substations including infrastructure and other associated works. The contract will commence on Sept 2, 2024, and is to be completed within 23 months from the commencement date.
SOLARVEST, NCT LAUNCH PHASE ONE OF INDUSTRIAL PARK
The Sun, 15/8/2024
Solarvest Holdings Bhd and NCT Group of Companies have commenced phase one of their joint development project at the NCT Smart Industrial Park (NSIP) in Sepang, consisting of over 270 factories. This will be the first solar-ready industrial park in the region, marking a significant milestone for the establishment of sustainable industrial infrastructure in Malaysia.
COURTYARD BY MARRIOTT SUBANG TO OPEN IN 2026
NST, 11/8/2024
SKS Group and Marriott International have signed a hotel management agreement to launch Courtyard by Marriott Subang in Selangor. Courtyard by Marriott Subang, scheduled to open in 2026, will be part of a mixed-use development that includes retail spaces. The hotel will feature 280 rooms, a ballroom of about 10,763.9 sq. ft. and four meeting rooms.
This marks SKS' third collaboration with Marriott International and its first venture outside Johor, following the successful debut of Four Points by Sheraton Desaru in 2021 and the upcoming opening of Sheraton Johor Bahru next year.
PARAGON INKS JOHOR BARU PROJECT DEAL
The Edge, 14/8/2024 & The Star, 15/8/2024
Paragon Globe Bhd via wholly-owned subsidiary PGB Desa Heights Sdn Bhd, has signed a development rights agreement with Tropicana Danga Bay Sdn Bhd to develop two prime freehold land parcels within the Danga Bay integrated waterfront development in Johor Baru. The project with an estimated gross development value (GDV) of around RM1.49 billion and expected gross development cost (GDC) of RM1.15 billion will consist of four towers, each comprising 36 floors with a total of 2,552 serviced apartment units. Construction is set to commence in February 2025 and is expected to be completed in approximately four years.
E&O LAUNCHES THE LUME
Starproperty.my, 12/8/2024
E&O Group has launched The Lume, the latest development on Andaman Island in Penang. The Lume comprises 261 units of luxury residence featuring lush tropical gardens and scenic sea views. The units come in sizes from 1,722 sq. ft. to 2,874 sq. ft. Each floor features just six apartments. Facilities offered at The Lume include landscaped pools, lounges, BBQ spaces, playgrounds, pet-friendly spaces, dedicated co-working spaces, meeting rooms, and function areas that facilitate the integration of professional and personal life.