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Roadshow to gauge Sarawak’s property market outlook




The Extract from Borneo Post (4/10/2014)

KUCHING: The public is encouraged to check out Sarawak Housing and Real Estate Developers’ Association’s (Sheda) annual ‘Home and Property’ roadshow this weekend to identify the current outlook on Sarawak’s property market in different areas and available projects.

The Kuching leg of the roadshow which will be held at Boulevard Shopping Mall thiscoming weekend

l kick off a series of roadshows for the year which will be held throughout Sarawak namely in Sibu, Bintulu and Miri.

“The roadshow will be a one stop hub where the public can explore and compare the latest development projects and opportunities available in these exciting and changing times.


IGB to offer 685 new hotel rooms in Penang

Extract from Business Times (10/4/2014)

GEORGE TOWN: New rooms, totalling 685, will be offered by IGB Corp Bhd via subsidiary Cititel Hotel Management (CHM), when it opens two new hotels on Penang island by the end of this year.

The two properties, located along Jalan Magazine, will include budget hotel Cititel Express Penang and four-star The Wembley-St Giles Premier Hotel Penang.

“We are targeting regional markets, corporate segment, leisure and the meetings, incentives, conventions and exhibition segments for the two properties,” CHM managing director Datuk Eric Lim said.

CHM currently has under its stable the 451-room Cititel Penang on Jalan Penang.


RHB stays ‘overweight’ on construction sector

Extract from Business Times (10/4/2014)

STRONG EARNINGS VISIBILITY: Gamuda, Protasco and Hock Seng Lee are research house’s top picks

RHB Research remains  “overweight” on the construction sector, given second wave of jobs hitting Malaysian shores.

According to RHB, investors should stay invested in the construction sector on strong earnings visibility backed by record or close-to-record outstanding orderbook  for  most players  at  present and more new jobs in the pipeline.

RHB said more new jobs in the pipeline for construction players over the immediate to medium term on the back of a second wave of spending and investments by the public  and private  sectors. 


Selangor ‘exco village’ too expensive to maintain

Extract from The Sun Daily (9/4/2014)

SHAH ALAM: Selangor's "exco village", the official residence for state executive councillors (exco) is under-utilised as it is too luxurious and costs too much to maintain.

Mentri Besar Tan Sri Khalid Ibrahim said the place has now been renovated and all repairs carried out to provide accommodation to senior government servants and exco who need to stay there.

"The maintenance fees were signed before we (Pakatan Rakyat) came to power. They were very expensive, so we are now trying to reduce it to appropriate rates so that it will be cheaper and more value for money for the state," he said at the Selangor state assembly today.

Speaking to reporters outside the state assembly, Khalid said the maintenance contractor will be dropped if they kept charging such expensive fees.


Sunway, Viacom expand tie-up to develop RM100mil Nickelodeon-themed attraction

Extract from The Star (9/4/2014)

PETALING JAYA: The Sunway Group has expanded its collaboration with content provider Viacom International Media Networks Asia to develop a RM100mil Nickelodeon-themed attraction – the first in Asia – on its 88-acre Sunway Lagoon theme park.

“The new attraction – Nickelodeon Explorer’s Oasis – will occupy 10 acres of the theme park and is expected to be completed in March 2015,” said Sunway Group founder and chairman Tan Sri Dr Jeffrey Cheah at a press conference.

He, however, declined to say how much the new investment would add to the theme park’s revenue.

Nickelodeon is a top global entertainment brand focused on kids and families.


EUPE plans RM720mil projects in Cheras, Bangsar

Extract from The Star (9/4/2014)

KUALA LUMPUR: Kedah-based property developer EUPE Corp Bhd expects to launch its maiden Kuala Lumpur projects with a combined gross development value (GDV) of RM720mil this year.

Group managing director and chief executive officer Datuk Beh Huck Lee (pic) said the residential projects in Cheras and Bangsar, with a tentative GDV of RM260mil and RM460mil, respectively, would start contributing to the company’s earnings in the financial year ending Feb 28, 2016.

“We acquired land in Kuala Lumpur about two years ago. We have not obtained the relevant approvals yet, but will soon. We hope to kick off the projects by the third quarter of our current financial year,” he said.

Eupe, which began operations in 1986, has to date seven developments in Kedah, with a combined GDV of over RM1bil. Beh said the company would continue to expand in Kedah as well.


Sara Resorts given overall satisfactory performance

Extract from Borneo Post (9/4/2014)

KUCHING: The overall performance of Sara Resorts Sdn Bhd (Sara Resorts) has been satisfactory, according to an audit conducted from September to November last year by the Auditor General (AG).

Sara Resorts, a company wholly owned by Sarawak Economic Development Corporation (SEDC) with an authorised capital of RM25 million and paid-up capital of RM16.36 million, generally manages the properties and assets for tourism, identifies and develops projects for tourism while also carrying out marketing and promotional programmes for the Tourism And Leisure Division of SEDC.

In addition, Sara Resorts also directly manages its two principal activities, the Sarawak Cultural Village (SCV) and Damai Beach Resort Hotel.

In the Auditor General’s report for the year 2013, it was highlighted that Sara Resorts’ reported profit after tax for the financial year ended 2010, 2011 and 2012 amounted to RM5.53 million, RM1.82 million and RM2.06 million respectively.


Not enough hotel rooms in Langkawi, say airlines

Extract from Business Times (9/4/2014)

HIGH OCCUPANCY RATE: Carriers willing to add more direct flights, but only if Kedah can cater to needs of tourists

Airlines are hoping that the number of hotel rooms on Pulau Langkawi can be doubled so that they could expand by offering more direct flights to the resort island.

“The airlines are targeting seasonal air travellers from Europe, the Middle East and Asia Pacific, including China and India,” said industry players.

Currently, there are about 8,000 hotel rooms in Langkawi, but during peak seasons, the demand for rooms drastically outnumbers the supply.


Property show expects to see 20 pct increase in sales

Extract from Bernama (8/4/2014)

CYBERJAYA: The Cyberjaya Premier Property Showcase 2014 (CPPS), which is expected to receive an overwhelming public response, expects total sales to increase by 20 per cent compare with over RM50 million last year.

The third consecutive year showcase, led by Setia Haruman Sdn Bhd, the master developer of Cyberjaya, aims to cater to demand from homeowners and investors on the properties in Cyberjaya.

"The success of the two previous showcases in 2012 and 2013 have spurred us on to continue CPPS and we have received enquiries for residential and commercial units," said Setia Haruman Head of Sales & Marketing Liew Yeon Keong at a media briefing here.

The CPPS, scheduled to be held on April 19-20 at Cyberview Resort and Spa, is jointly organised by eight property developers -- Setia Haruman, SP Setia, MCT Consortium, UEM Sunrise, EMKAY Group, Glomac, Paramount Property (Cjaya) Sdn Bhd and Areca Properties -- and will showcase over 20 projects.


Positive impact of demand for building materials neutralised by higher costs

Extract from Borneo Post (7/4/2014)

KUCHING: The positive impact of better demand for both the steel and cement sectors has according to analysts, been generally neutralised by higher costs.

According to the research arm of Kenanga Investment Bank Bhd (Kenanga Research), the recent electricity tariff hike effective Jan 1, 2014 and the reduction in fuel subsidies in late 2013 are likely to impact production costs.

This is especially as electricity comprises 25 to 35 per cent of production cost in the steel sector, it noted

“Within the sector, Ann Joo Resources Bhd (Ann Joo) is better positioned to absorb the impact of rising electricity costs as it has begun reaping the benefits of its hybrid Electric Arc Furnace (EAF) with hot metal charging technology, which allows for higher production per unit of electricity consumed and improved grade of the steel output,” the research arm opined.