Week 42 - 2024
MITI: RM17.9 BILLION INVESTMENTS FROM CHINA APPROVED FROM 2023 TILL 1H24
The Edge, 14/10/2024
The Investment, Trade and Industry Ministry (Miti) and the Malaysian Investment Development Authority (Mida) are supervising investments of RM17.9 billion from China, approved in the manufacturing sector from 2023 to 1H24. These investments involve 110 approved projects and will generate 14,343 job opportunities. Of the total, 54 projects (49.1%) with an investment of RM3.8 billion have been realised, creating 5,303 jobs.
DOSM: ICT AND E-COMMERCE CONTRIBUTED RM427.7 BILLION TO GDP IN 2023
The Edge, 15/10/2024 & The Sun, 16/10/2024
The Information and Communication Technology (ICT) industry, including e-commerce, has generated a total of RM427.7 billion to Malaysia’s gross domestic product (GDP) in 2023, compared to RM411.6 billion in 2022. This represents a contribution of 23.5% to GDP in 2023, against 22.9% in the preceding year. ICT and e-commerce activities grew at 3.9%, compared to 14.3% in the preceding year.
The ICT and e-commerce industries comprise the gross value added of the ICT industry (GVAICT), which contributed 13.8%, and 9.6% from e-commerce in non-ICT industries. The GVAICT of RM252 billion recorded a growth of 3.8%, compared to 11.4% in the previous year, supported by ICT services contributing 41.6%.
The GVAICT stood at RM252.0 billion last year, recording a growth of 3.8%, compared to 11.4% in 2022, supported by ICT services, contributing to 41.6%. This is followed by ICT manufacturing, ICT trade, and content and media, with a share of 38.2%, 14.2% and 6.0%, respectively.
The gross value added of e-commerce amounted to RM248.2 billion in 2023, with slower growth of 3.7%, compared to 19.2% in the preceding year. The contribution of e-commerce to GDP was recorded at 13.6%, with the manufacturing sector as the main contributor at 51.8%, followed by the services sector at 45.2%. The exports of ICT products contributed 34.5% to Malaysia’s exports, valued at RM430.7 billion in 2023, and was dominated by ICT goods, with a share of 90.9%.
Overall, net exports of ICT products recorded a surplus of RM160.0 billion in 2023. On the labour front, employment in the ICT industry increased by 1.6% to 1.24 million persons in 2023, with a contribution of 7.8% to the overall employment in Malaysia. The employment was dominated by ICT manufacturing at 35.6%, followed by ICT services and ICT trade, with a share of 29.2% and 22.4% respectively.
GADANG TO SELL LEASEHOLD LAND IN DAMANSARA PERDANA FOR RM65 MILLION
Edgeprop.my, 14/10/2024
Gadang Holdings Bhd is disposing of a leasehold land measuring 2.66 acre in Damansara Perdana for RM65 million to a property developer Opulent Abode Sdn Bhd.
ARMANI GROUP OPENS SALES GALLERY FOR LOFTHILL RESIDENCE
Starproperty.my, 14/10/2024
Property developer Armani Group has launched the Lofthill Residence sales gallery in Kuala Lumpur. Located on Jalan Raja Uda, Kuala Lumpur, Lofthill Residence is a luxurious serviced apartment with 653 freehold units in a single tower.
ECONPILE BAGS RM35 MILLION CONSTRUCTION JOB
The Edge, 16/10/2024 & The Star, 17/10/2024
Econpile Holdings Bhd has received a letter of award from WCT OUG Development Sdn Bhd to undertake construction work at Jalan Awan Besar, Kuala Lumpur, worth RM35.1 million. The job will involve bored piling, earthworks, retaining wall and sub-structure works for two 57-storey service apartment blocks comprising 636 units each. The project shall be completed within 13 months from Oct 28, 2024.
PAN MALAYSIA WINS RM47 MILLION BUILDING JOB
The Edge, 14/10/2024 & The Star, 15/10/2024
Pan Malaysia Holdings Bhd has accepted a letter of award (LoA) from Discovery Media Sdn Bhd through its wholly-owned subsidiary, Exsim Concepto Sdn Bhd (ECSB), for the development of four office levels and other facilities in Damansara Perdana, Petaling Jaya. The contract sum worth RM47.37 million will entail supplying, fabricating, delivering and the installation of interior design fit-out works for guest rooms. It added the duration of the contract will be 24 months from the LoA.
SUNWAY REIT COMPLETES RM215 MILLION ACQUISITION OF 163 RETAIL PARK, REBRANDING IT AS SUNWAY 163 MALL
NST, 12/10/2024 & Starproperty.my, 15/10/2024
Sunway Real Estate Investment Trust (Sunway REIT), has completed the acquisition of a freehold seven-storey mall known as “163 Retail Park” for a purchase consideration of RM215 million and rebranded it as “Sunway 163 Mall.” Sunway 163 is currently 99% occupied, featuring over 100 tenants and brands that offer a diverse range of retail options for the surrounding communities of Mont’ Kiara, Hartamas, and Segambut.
MGB TO UNDERTAKE RM861 MILLION GDV MIXED DEVELOPMENT, RESIDENTIAL PROJECTS IN SERI KEMBANGAN
NST, 12/10/2024
Construction and property development company MGB Bhd will undertake mixed development and residential projects on 26 acres of land in Taman Bukit Serdang, Seri Kembangan with a combined gross development value (GDV) of RM861.35 million. The company is teaming up with Talam Transform Bhd to develop 16.5 acres of land for a mixed development project that includes commercial shop lots and affordable housing under the Rumah Selangorku scheme. MGB also signed a deal with Kandis Permai Sdn Bhd to develop 9.5 acres of Malay reserved land in the area into residential units exclusively for Bumiputera homeowners.
AVALAND OPENS AVENUE25 SALES GALLERY IN SUBANG JAYA, PREVIEWS ALORA RESIDENCES TOWER B
The Edge, 12/10/2024
Avaland Bhd officially opened the sales gallery of Avenue25 and previewed Tower B of Alora Residences serviced apartments in Subang Jaya, Selangor. Avenue25 is a 13.4-acre freehold mixed-development with an estimated GDV of RM3 billion located at USJ25 in Subang Jaya. The entire masterplan will embody a ‘forest-inspired vertical green village’ concept.
Avaland also previewed Tower B of Alora Residences. Tower B will have a total of 278 units with built-up sizes of 923 and 1,042 sq. ft. The selling price starts from RM739,800. Overall, Alora Residences has a GDV of RM551 million with a total of 770 units that spread across Tower A and B. Tower A was launched in August 2023, and it has achieved a take-up rate of 50%. It also has eight retail units with selling prices starting from RM1.2 million. Avenue25 will be developed in four phases with Alora Residences being the first phase. The mixed-development project will take about 10 years to complete.
In addition, Avaland has invested RM1 billion in upgrading road infrastructures surrounding the development including constructing a 300m covered pedestrian bridge that links Avenue25 to the LRT USJ21 station. Avenue25 has access to Shah Alam Expressway (Kesas), Lebuhraya Damansara-Puchong (LDP) and North-South Expressway Central Link (Elite).
LBS BINA UNVEILS RM9.5 BILLION GDV RIMBAWAN TOWNSHIP IN GENTING HIGHLANDS; BUDGET 2025 WISHLIST
The Edge, 16/10/2024
LBS Bina Group Bhd officially launched its latest 315-acre township development named Rimbawan in Genting Highlands, Pahang. The township will offer bungalow lots, landed properties, high-rise residential units, commercial lots, 50 acres of preserved forest, 9km of jungle paths, over 6km of cycling and jogging tracks and playgrounds.
Rimbawan is planned to integrate the community with the local ecosystem, by making the river and waterfalls serve as the backbone of the township to ensure the biodiversity of the local ecosystem. There will be green corridors throughout the township, creating a natural aviary skyway for birds and wildlife to move freely between the protected green reserves.
The unveiling of the township was in conjunction with the launch of the township’s first project, Bayu Hills. The high-rise residential features 642 apartment units spread across a 36-storey tower. The size of the units is from 500 to 1,067 sq. ft. and selling price is from RM501,900. There are facilities such as a sky lounge, a forest-view co-op workspace, a green terrace, a kindergarten, prayer room, games room, swimming pool and BBQ area within the development.
LSH CAPITAL HANDS OVER MAIDEN HIGH-RISE PROJECT IN SENTUL, KL
The Edge, 17/10/2024
Lim Seong Hai Capital Bhd (LSH) and Besteel Engtech Sdn Bhd (BESB) have delivered their maiden joint-venture high-rise residential project named Laman Seri Harmoni (LSH33) in Sentul, Kuala Lumpur. LSH33 is a mixed development comprising one block each for the Malaysian Civil Servants Housing Programme (PPAM) with 300 units, Residensi Wilayah (300 units), and open market condominium (300 units). The project also has 32 shoplots spread across four levels known as TigaTiga. LSH33's facilities include swimming pools, gymnasiums, multi-purpose halls, reading rooms, prayer rooms, sports courts, and playgrounds. Some of the tenants at TigaTiga are Village Grocer, R Pharmacy, ZUS Coffee, LiveIn co-working, ALLFIT Gym, and Zumo Laundry.
TANCO PARTNERS WITH NEGERI SEMBILAN STATE-OWNED FIRM TO DEVELOP INDUSTRIAL PARK
The Edge, 15/10/2024
Property developer Tanco Holdings Bhd is forming an 80:20 joint venture with Menteri Besar Negeri Sembilan (Inc) (MBINS) to develop an industrial park in Port Dickson. The park, provisionally named the Port Dickson Free Zone (PDFZ), will be developed on 575 acres of land currently owned by SD Guthrie Bhd, formerly known as Sime Darby Plantation Bhd.
The collaboration will focus on acquiring the land and executing the development, which is expected to include warehouses, factories and other infrastructure, subject to approval from relevant authorities. The industrial park would complement its proposed development of the smart AI container port project in Negeri Sembilan.
The port, which recently received approval from the Malaysian Marine Department, is planned on a 194-hectare site owned by Tanco. The project will feature a 1.8km jetty, a terminal and a container handling area spanning 200 acres.
SIME DARBY PROPERTY’S XME BUSINESS PARK 2 ACHIEVES FULL TAKE-UP
Starproperty.my, 14/10/2024
Sime Darby Property Bhd has announced a 100% take-up rate for its XME Business Park 2. Situated in Nilai Impian and adjacent to XME Boulevard, this business park is set to become a prime destination for enterprises.
XME Business Park 2 offers 15 ready-built factories, a mix of detached and semi-detached units, ranging from 8,397 sq. ft. to 18,405 sq. ft. and priced between RM4.5 million and RM9.3 million. XME Business Park 2 will provide some sustainable features such as rainwater harvesting, ready infrastructure for solar power installations and electric vehicle (EV) charging points.
The business park offers practical, modern facilities, including multiple loading bays, a high floor loading capacity of 10 kN/m², triple-volume warehouse space with a minimum height clearance of nine meters and a wide main loading area designed to accommodate 40-foot trucks. Additionally, it features expansive two-storey open-plan office spaces.
XME Business Park 2 provides excellent logistics and connectivity with direct access to highways, including PLUS, ELITE and LEKAS. Its proximity to Kuala Lumpur International Airport, along with nearby amenities such as shopping centres, educational institutions and healthcare facilities, further enhances its appeal as an industrial hub.
CYPARK INKS DEAL TO DEVELOP GERMAN TECHNOLOGY PARK
The Edge, 15/10/2024 & The Star, 16/10/2024
Cypark Resources Bhd had inked a memorandum of agreement with Melaka Corp (MCORP) and Jakel Capital to jointly explore and develop energy solutions for the German Technology Park (GTP) in Melaka. The development will utilise Cypark’s expertise in renewable energy to ensure the park’s energy needs are met with sustainable practices. The industrial park is designed to attract leading German technology and manufacturing companies. The park is expected to generate 1,000 megawatt of solar generated electricity over the next five to seven years and will include a dedicated section for data centres. The partnership marks a significant milestone for the group as it continues to lead the way in renewable energy solutions and sustainable development in Malaysia.
MUI GROUP BUILDING 800 ACRES INDUSTRIAL PARK IN BANDAR SPRINGHILL
The Star, 17/10/2024
MUI Group is currently developing 800-acre Springhill Industrial Park on the western section of Bandar Springhill, Negeri Sembilan. The development of the industrial park will be carried out over three phases involving 160 acres, 120 acres and 160 acres, respectively.
The Springhill Industrial Park is targeting businesses in the light and medium industrial sectors. It is strategically located next to Malaysia Vision Valley 2.0, a project that encompasses high-tech parks, industrial zones, integrated logistics, biocities and healthcare cities. MUI Group is committed to developing Bandar Springhill into a comprehensive residential, commercial and industrial system.
MALAYSIA SEES 16.45 MIL FOREIGN TOURIST ARRIVALS AS OF AUGUST 2024
The Edge, 14/10/2024
Malaysia recorded a total of 16.45 million international tourist arrivals as of August 2024, achieving over 60% of its full-year target of 27.3 million international tourists. The 16.45 million international arrivals represent a growth of 29.5% compared to 12.69 million during the same period in 2023.
Among the top contributors, Singapore led with 5.77 million arrivals, accounting for 35.1% of total international tourists, followed by Indonesia with 2.4 million arrivals, or 14.6%. Chinese tourists, who benefited from the government's removal of visa requirements until December 2024, accounted for 2.29 million arrivals. Meanwhile, arrivals from Thailand and Brunei stood at 1.09 million and 785,548, respectively.
PASSENGER MOVEMENTS RISE TO 36.1 MILLION
The Edge, 17/10/2024, NST & The Star, 18/10/2024
Malaysia Airport Holdings Bhd (MAHB) recorded 36.1 million passenger movements in 3Q24 representing a 10.6% year-on-year increase compared to 32.6 million passengers in 3Q23. The quarterly performance reached 97.7% of the pre-covid 19 pandemic levels. The improved traffic was largely driven by international passenger movements, the introduction of new airlines and routes, visa exemptions for travellers from China and India, and the steady increase in air travel demand. The growth on the local front was primarily driven by the introduction of five new airlines – 9 Air, Air India, AirAsia Cambodia, Lucky Air and Qingdao Airlines and the addition of 197 weekly flights from the preceding quarter, as well as, the extension of the 30-day visa free entry from mainland China until December 2025 also led to a significant increase in passenger numbers, with weekly flight frequencies exceeding the level in 3Q19 by 24.8%.
LFE CORP WINS RM39 MILLION CONTRACT
The Edge, 16/10/2024 & The Star, 17/10/2024
LFE Corp Bhd has accepted a letter of award from Gamuda Engineering Sdn Bhd for works at the Elmina Business Park Hyperscale Data Centre, worth RM38.8 million. The contract involves the construction, completion, testing and commissioning of electrical services at core and shell and other associated works at the site. The date of commencement of the contract is Oct 4, 2024, and is scheduled to be completed on Oct 18, 2025.
CRESCENDO TO BUY SGR LAND, ASSUME JOHOR LAND PURCHASE AGREEMENTS IN RM169 MILLION DEAL
The Edge, 16/10/2024
Crescendo Corporation Bhd is buying SGR Land Development Sdn Bhd and taking on its six land purchase obligations in Johor for RM168.85 million. The land provides access to the Second Link to Singapore, Port of Tanjung Pelepas, North-South Expressway, as well as the Senai International Airport, making it ideal for development of industrial properties.
FAJARBARU SECURES DEAL WORTH RM246 MILLION FROM WCT
The Edge, 16/10/2024 & The Star, 17/10/2024
Fajarbaru Builder Group Bhd has received a letter of award from WCT Holdings Bhd worth RM246.1 million to undertake the second phase development of AdisonWest located in Larkinton, Johor Baru. This contract involves the construction of four serviced apartment towers comprising 896 units in Johor Baru, recreational facilities and amenities as well as a six-storey podium featuring car parks, commercial lots, and a lobby. The construction project is expected to be completed in 36 months and will be delivered in 2027.
BCB ACQUIRES FOUR PARCELS OF LAND IN JOHOR
The Edge, 14/10/2024 & The Star, 15/10/2024
BCB Bhd has signed the sales and purchase agreement to acquire four pieces of freehold vacant land in Kluang, Johor, measuring 54.71 acres from Country Green Realty Sdn Bhd for RM31 million. It is planning a property development on the parcels of land which consists of a mixed-use project featuring both residential units and retail shops.
RM1.5 BILLION PENANG AIRPORT UPGRADE WORKS BEGIN
The Edge, 16/10/2024 & The Star, 17/10/2024
Expansion works on Penang International Airport (PIA) have begun, with the RM1.5 billion project split into three packages to be completed by 2028. The airport expansion will cater for 12 million passengers annually. Additional upgrades to the airport include 10 autogates each in the international departure and international arrival halls, with the four-month installation work to begin in November 2024. The Immigration Department has also set up a Malaysia Digital Arrival Card (MDAC) help desk in the international arrival hall to help foreigners fill in the necessary forms. With the expansion, PIA is poised to become the second-largest airport in the country after Kuala Lumpur International Airport. The expansion will also increase aircraft parking capacity from 16 commercial planes to 28 at any one time.
FAJARBARU INKS DEAL WITH PDC TO DEVELOP MEDICITY
The Edge, 14/10/2024 & The Star, 15/10/2024
Fajarbaru Builder Group Bhd (FBG) has accepted a letter of offer from state-owned Penang Development Corp (PDC) to develop MediCity in Batu Kawan, Penang. It is a proposed joint development project between PDC and FBG that will have a specialist hospital. The development consists of two parcels of freehold land in Bandar Cassia, Mukim 13 in Batu Kawan, totalling 235.81 acres.
