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Aeon eyes RM100mil revenue from Bukit Mertajam mall

Extract from The Star (21/7/2014)

BUKIT MERTAJAM: Aeon Co (M) Bhd aims to rake in RM100mil revenue from its new mall, Aeon Bukit Mertajam, by July 2015.

Managing director Nur Qamarina Chew said the target was achievable as there was a housing density in that area and Bukit Mertajam was a growing town. “This place has the second highest income level in Malaysia based on our research. We can see a big crowd here... every day.

“We are trying to innovate and provide comfort and convenience to the customers. We have international tenants like Cotton On and Uniqlo,” Nur Qamarina said this at a media briefing after the opening of the mall by Penang state secretary Datuk Farizan Darus, here yesterday.

She said the mall has created over 1,000 jobs and Aeon has set up a career development programme to ensure that its staff were well-trained and would stay long with the company.


Johor seeks high-tech investments

Extract from The Star (21/7/2014)

JOHOR BARU: Johor is to attract more capital-intensive and high-technology investments in its bid to become the nation’s economic powerhouse.

Mentri Besar Datuk Mohamed Khaled Nordin said the state could no longer depend on labour-intensive manufacturing activities if it wanted to become an economic powerhouse in the country.

He said Johor had the right eco-system to attract capital-intensive and high-technology investments and this include its strategic location at the crossroad of international trading route.

“We’ve already established ourselves as the electronics and electrical manufacturing hub in the southern region (of Peninsular Malaysia) and we need to bring it to the next level,’’ Mohamed Khaled said.


O&G drilling space, affordable housing set to gain traction

Extract from Borneo Post (21/7/2014)

KUCHING: The oil and gas (O&G) drilling space and affordable housing investment themes are likely to continue to gain traction, the research arm of Maybank Investment Bank Bhd (Maybank IB Research) has observed at its Malaysia Corporate Day in Singapore.

Maybank IB Research had featured nine companies for its recent one-day Malaysia Corporate Day in Singapore on June 26, 2014, attended by 42 institutional funds.

It highlighted that the participating O&G corporates were UMW Oil and Gas Corporation Bhd (UMW OG), Perisai Petroleum Teknologi Bhd (Perisai), Perdana Petroleum Bhd (Perdana), Barakah Offshore Petroleum Bhd (Barakah), Coastal Contracts Bhd (Coastal Contracts) and Uzma Bhd.

The property sector was represented by Tambun Indah Land Bhd (Tambun Indah), Eastern &Oriental Bhd (E&O) and MKH Bhd (MKH).


Guocoland to develop projects with RM2.5b GDV




Extract from Business Times (18/7/2014)

KUALA LUMPUR: Guocoland (Malaysia) Bhd, the property arm of Hong Leong Group, aims to develop property projects with a gross development value (GDV) of RM2.5 billion over the next three years.

Managing director Tan Lee Koon said the projects include a township inRawang and a mixed development in Sepang, as well as a corporate office venture in Petaling Jaya.

"I am very optimistic of the company's prospects," he told reporters after the topping up ceremony of the DC Residency here today.

He said the company will be opening up the second phase of the residential development in Sepang in the middle of next month, while commercial products are also in the pipeline for the area.


Tambun Indah Land plans retirement village

Extract from Business Times (18/7/2014)

Property developer Tambun Indah Land Bhd will be offering a retirement village within its flagship integrated mixed project “Pearl City” in Simpang Ampat on Penang mainland.

The company’s managing director Teh Kiak Seng said a total of 200 high-end condominium units will be offered for sale to those aged 60 and above.

The proposed development, to be built on 1.24ha of land, will offer clubhouse facilities found in condomimium developments, with additional amenities catering to the elderly.

“We are looking at offering an Australian-inspired retirement village with custom-designed amenities for retirees,” he told Business Times.


Mah Sing completes Bandar Meridin East acquisition

Extract from Business Times (18/7/2014)

KUALA LUMPUR: Mah Sing Group Bhd has completed the acquisition of Bandar Meridin East in Pasir Gudang, Johor, which has an estimated gross development value (GDV) of RM5 billion.

The property developer said the freehold land was bought at RM6.81 per sq ft (psf).

In a statement issued yesterday, Mah Sing said it intends to tap the group’s expertise in township master planning.

“Subject to approval by the relevant authorities, proposed components for Phase One will include 500 units of landed double-storey link homes with estimated built-up of 1,800 sq ft, 2,400 sq ft, and 2,600 sq ft, indicatively priced from below RM400,000,” it said.


Mah Sing completes acquisition of land in Bandar Meridin East for RM401.16 million

Extract from Bernama (18/7/2014)

KUALA LUMPUR: Mah Sing Group Bhd has completed the acquisition of 547.07 hectares in Bandar Meridin East in Pasir Gudang, Johor for RM401.16 million.

In a statement here today, the property developer said the freehold land has an estimated gross development value of RM5 billion and was acquired at RM6.81 per sq ft.

On the rationale of the acquisition, Mah Sing said it planned to tap into the group's expertise in township masterplaning.

"The proposed components for phase one will include 500 units of landed double-storey link houses with estimated built-up ranging from 1,800 sq ft, 2,400 sq ft and 2,600 sq ft indicatively priced from below RM400,000.


Terengganu allocates 10 percent PPR houses for bachelors

Extract from Bernama (13/7/2014)

KUALA TERENGGANU: The Terengganu state government has loosened its home ownership regulations for the People's Housing Project (PPR) by allocating a 10 per cent quota for eligible bachelors.

Menteri Besar Datuk Ahmad Razif Abdul Rahman said the move was part of the state government's efforts to resolve housing issues which are a priority to the people.

"After evaluating and taking into account all aspects, we have decided to allocate 10 per cent of the PPR houses in Terengganu to bachelors and it will give a chance for young people who have not married to plan their finance and secure a home before they get married," he said when speaking at a programme with employees of the Terengganu Community Development Agency (APMT) here today.

Previously, Ahmad Razif also decided to lower the price of affordable homes from RM73,000 to RM68,000.


Johor launches 'ResQ' for better housing security

Extract from Bernama (13/7/2014)

JOHOR BAHARU: Housing developers in Johor have been urged to consider equipping their housing projects with 'ResQ', a mobile security smart device using the latest digital technology application.

Menteri Besar Datuk Seri Mohamed Khaled Nordin said the installation of the gadget could reduce crime rates in Johor in line with the focus of the 'Suara Hati Johor' programme.

"ResQ is an improvement of the smart phone application 'Community Alert' (CommAlert), which was introduced in March for direct interaction with police," he said at the launch of ResQ today.

Nonetheless, he said, there were constraints in the usage of CommAlert, resulting in the move to using the digital technology device, ResQ.


Terengganu reduces affordable house price from RM73,000 to RM68,000

Extract from Bernama (13/7/2014)

DUNGUN: The Terengganu government has decided to bring down the price of affordable houses in the state from RM73,000 to only RM68,000, said Menteri Besar Datuk Ahmad Razif Abdul Rahman.

He was speaking at a breaking of fast and handing-out of appointment letters to members of the village security and development committees in the Dungun district, here, last night.

"With this, the monthly payment for the house is reduced to only RM189 from RM323 which hopefully, will help lessen the house buyers' financial burden.

"Besides this, the service charge of 5.5 per cent imposed previously, has been removed," he said, followed by thunderous applause from the crowd of over 5,000 people at the function.