Mah Sing Group to buy more land

                          

                 Mah Sing Group founder and group managing director, Tan Sri Leong Hoy Kum.

By NST Property - November 27, 2019

Mah Sing Group Bhd will continue to replenish its prime lands with a key focus on affordable property projects, especially in the Klang Valley, Johor and Penang, should opportunities arise.

The group will also explore joint venture prospects, said its founder and group managing director, Tan Sri Leong Hoy Kum.

“In line with our growth strategy, we are constantly on the lookout for more prime lands at strategic locations with attractive pricing points as it resonates with our aim to expand in areas with large population growth.”

Leong said Mah Sing was looking at land located within well-established neighbourhoods equipped with ready amenities and easily accessible infrastructure, coupled with strategic access to highway
connectivity.

This year, it acquired three plots of prime land, with the second acquisition (M Luna, KL North) announced in July and the third acquisition (M Adora, Wangsa Melawati) in August.

M Aruna in Rawang.

M Oscar (Off Kuchai Lama), the first project in Mah Sing’s land acquisition trail this year was acquired in March.

Within seven months the first phase comprising 200 units was launched and recorded 100 per cent take-up.

Leong said, all the new plots of land were equipped with approved development order, which allowed Mah Sing to leverage on its fast turnaround business model to launch the new projects swiftly.

M Luna and M Adora are targeted to be launched in the first quarter of next year.

Leong expects the same success rate for the two projects.

“As a market driven developer, we understand the market needs and are constantly adapting our strategies to suit demand.

“We have always believed that properties in the affordable range and at good locations are still seeing good demand.

“The projects that we have recently launched or are currently in the pipeline are all affordably priced with good accessibility and connectivity,” said Leong.

Mah Sing is targeting to achieve its RM1.5 billion sales target for this year, and 81 per cent will come from residential properties below RM700,000, he said.

The group has achieved RM1.14 billion sales in the nine-month period ended 30 Sept 2019, it said in a statement today.

The development projects which contributed to the revenue are M Vertica in Cheras, M Centura in Sentul, M Aruna in Rawang, Southville City in KL South, Lakeville Residence in Jalan Kuching, Damansara Sentral in Sungai Buloh, M Residence and M Residence 2 in Rawang and M City in Jalan
Ampang in Greater Kuala Lumpur and Klang Valley, Ferringhi Residence in Penang and The Meridin@Medini, Meridin East and Sierra Perdana in Johor.

As of 30 Sept, Mah Sing still has 835.3ha of land bank, with remaining gross development value and unbilled sales of about RM25.5 billion.

Leong said this would provide Mah Sing with steady earnings visibility, which could sustain its growth for next eight to nine years.

                    

                                                                     M Vertica in Cheras.

Home Ownership Campaign 2019 a boost to the property market

Leong said the Home Ownership Campaign (HOC) 2019 which offered various incentives and stamp duty exemptions had returned buyers’ purchasing confidence.

The extended HOC until 31 Dec was encouraging more potential home buyers to secure their ideal home within the campaign period, he said.

Mah Sing has several projects participating in the HOC which have seen robust sales since its introduction early this year.

They include M Oscar located Off Kuchai Lama (highrise residential), M Vertica in Cheras (highrise residential), M Centura in Sentul (highrise residential), M Aruna in Rawang (two-storey link homes), Sensory@Southville City (highrise residential) and Cerrado@Southville City (highrise residential) in KL South and Lakeville Residence in Jalan Kuching (residential suites).

In Penang, there’s higher sales for M Vista in Southbay City (serviced apartment), The Loft in Southbay City (seaview residential suites), Ferringhi Residence in Batu Ferringhi (condominiums), and Ferringhi Residence 2 in Batu Ferringhi (condominiums).

Participating projects in Johor include Meridin East in Pasir Gudang (landed residential), Meridin@Medini in Iskandar Puteri (mixed development) and Meridin Bayvue in Sierra Perdana (highrise residential).

Leveraging on the HOC and in conjunction with Mah Sing’s 25th anniversary in property development, the group launched a sales campaign, “Lock and Win” recently to further drive sales.

The “Lock and Win” campaign is open to all Mah Sing purchasers who have successfully booked their properties between March 1 and Dec 31.

The campaign rewards buyers with up to RM2 million worth of prizes when they purchase from a
selection of the group’s participating homes and commercial spaces nationwide.

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i-City hailed as 'exemplary'

I-Berhad director Monica Ong (right) at the launch of the World Town Planning Day by Federal Territories Minister Khalid Abdul Samad, recently.

By Sharen Kaur - Published NST Online, November 27, 2019 

LOCATED in the heart of Selangor's Golden Triangle and listed by CNN Travel to be amongst the world's brightest and most colourful destination, i-City has now been hailed as 'exemplary' by property consultants.

The RM10 billion i-City is an exemplar project that shows how to scale-up an industrial focused area and create a sustainable development, attracting local and foreign investments.

I-Berhad executive chairman Tan Sri Lim Kim Hong told NST Property that i-City had come a long way since it was first envisaged over 15 years ago.

I-Berhad executive chairman Tan Sri Lim Kim Hong says t i-City had come a long way since it was first envisaged over 15 years ago.

Back then when it started, the developer launched low-rise MSC Malaysia Cybercentre Office Suites and it was the first for Shah Alam.

The 29.16 hectare i-City quickly became an international destination and the first private sector MSC Malaysia Cybercentre development in the country.

For Lim, being “international” means being an investment location of choice for global companies.

Among the foreign investors in i-City are Best Western International, which is currently operating the 3-star Best Western i-City; Hilton Worldwide Group, which will operate the four-star DoubleTree by Hilton i-City Hotel next year; and Central Pattana Plc (CPN), Thailand’s largest retail property developer.

CPN and I-City Properties Sdn Bhd (ICP), an affiliate of I-Berhad jointly developed Central i-City,
the largest shopping mall in Shah Alam, at a cost of RM850 million.

There are 10 towers on the drawing board, including the 73-storey ‘The Jewel’, which will be the tallest structure in i-City.

The 926,000 square feet six-storey mall with over 350 retails stores officially opened on June 15, this year. CPN has 60 per cent stake, and ICP, 40 per cent.

Central i-City is CPN’s flagship project in Malaysia and its first internationally, signifying the group's advancement into the Asean shopping centre landscape.

In July, Prime Minister Tun Dr Mahathir Mohammad praised i-City for paving the way for Thailand investments, during a four-day work visit to Thailand to host the Asean summit.

"Our Prime Minister was very happy with the partnership, stating that CPN can be a catalyst in
encouraging more investors from Thailand to i-City and Malaysia as a whole," said I-Berhad's deputy chairman Datuk Eu Hong Chew.

CPN’s reason in choosing i-City as a strategic location was because it had the MSC Malaysia status, advanced infrastructure, hotels, serviced apartments, Grade A office towers and various other technological-based facilities.

I-Berhad was invited to showcase i-City during the recent launch of the World Town Planning Day by Federal Territories Minister Khalid Abdul Samad.

The company's director Monica Ong gave updates and briefed Selangor Menteri Besar Amirudin Shari on the progress of the development.

In February, Amirudin said i-City has potential to be the Golden Triangle for Selangor.

He said, the rapid developments in i-City was capable of turning the state capital into a key pillar of the “golden triangle” by offering excellent economic opportunities.

Selangor is Malaysia’s economic powerhouse and most progressive and developed state,
contributing almost 25 per cent to the country’s gross domestic product.

From an architectural viewpoint, the master plan for i-City comprises 24 high-rise towers. Ten towers have been completed with four more under construction.

There are 10 towers on the drawing board, including the 73-storey “The Jewel”. The tower, which will cement i-City’s place in Selangor’s development history, comprises offices, a five-star hotel and premium retail space.

The leisure park @ i-City will host the first "Golden Triangle Day" on February 9, 2020.

Free access to leisure park for a day

Lim said, the leisure park @ i-City will host the first "Golden Triangle Day" on Feb 9, 2020.

He said it will be an annual event by i-City where for one day in a year, visitors will get to enjoy free unlimited rides in the amusement and theme park from 10am to midnight, and access to WaterWorld from 10am to 6pm.

"Visitors will also get to enjoy our main attraction, the Red Carpet 2 but each person will have to purchase a souvenir to get in. Visitors can also enter SnoWalk for free but if they want to stay longer, they will have to rent the winter clothing and shoes," said Lim.

"We hope to encourage more people to come to i-city," said Lim, adding that i-city, on average, churns RM1 million in revenue a day from it's leisure park operation.

"The Golden Triangle Day is i-City's way to show its gratitude to people who have supported us and
to encourage those who have never been to i-city to take this opportunity to visit," he added.

WATCH THE VIDEO - An attraction in i-City

CCCG bullish on Malaysia

(From left) China Harbour Engineering Co Ltd chief financial officer Xiong Sheng Quan, TRX City Sdn Bhd chief operating officer Tan Hwa Min, CCCG Real Estate Group vice-president and CCCG Overseas Real Estate Pte Ltd chairman Sui Zhen Hai, CCCG Real Estate Group international business division general manager Zhang Bao, WCT Holdings Bhd deputy managing director Goh Chin Liong and China Communications Construction Co Sdn Bhd managing director Ni Qing Jiu at the launch of Core Residence@TRX in Kuala Lumpur yesterday. Pic by NSTP/Salhani Ibrahim

By Sharen Kaur - November 26, 2019 @ 11:36am

KUALA LUMPUR: CHINA Communications Construction Group (CCCG), the main contractor for the East Coast Rail Link (ECRL) project, aims to increase its order book in Malaysia.

Subsidiary CCCG Real Estate Group international business division general manager Zhang Bao said the group was looking for more infrastructure and property projects.

Yesterday, CCCG and partner WCT Holdings Bhd unveiled Core Residence@TRX, a RM1.4 billion development at the Tun Razak Exchange (TRX), here.

Core Residence@TRX is CCCG’s first residential development in the country.

“We have been in Malaysia for more than 20 years and have completed several projects, including land reclamation works in Port Klang, and the Sultan Abdul Halim Muadzam Shah Bridge in Penang. Our biggest development currently is the RM44 billion ECRL project.

“We are also involved in land reclamation works for Seri Tanjung Pinang Phase2 in Penang, and the Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya Line.

“We hope to increase our investment in the property sector,” he told the New Straits Times.

Core Residence@TRX is a joint venture between CCCG and WCT, which is substantially owned by Tan Sri Desmond Lim of the Pavilion group.

It will be developed by Core Precious Development Sdn Bhd, in which WCT and CCCG hold 80 and 20 per cent stakes, respectively.

The high-end freehold project will be developed on a 0.67ha site.

Core Residence@TRX will feature three towers with 700 serviced apartments ranging from 624 to 1,022 sq feet, priced between RM 1 .44 million and RM2.48 million each.

The tallest of the three towers is 190m, or 50 levels, according to Zhang, who is also managing director of Core Precious.

“We are selling fully-furnished units at an average RM2,200 per square feet. We hope to sell all units in less than two years.”

He said the project was scheduled for completion at the end of 2023, adding that the handover to buyers would commence from 2024.

Zhang said Core Precious was targeting international buyers besides Malaysians.

The project was well-positioned for professionals and financial practitioners who would live and work in the city’s business district, he added.

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Holiday Villa Hail Hotel to open next year

(File pic) Manazeli Group chairman Jehad Abdulrahman Nazer and Holiday Villa Hotels & Resorts chairman, Tan Sri Azman Shah Harun. Courtesy Photo

By Sharen Kaur - November 26, 2019 @ 11:15am

ARAB group Manazeli plan to set up more hotels in Saudi Arabia in partnership with international hospitality group Holiday Villa Hotels & Resorts.

The immediate plan is to open Holiday Villa Hail Hotel, the first five-star hotel in the city of Hail next year, Manazeli chairman Jehad Abdulrahman Nazer told the New Straits Times in an interview here.

Jehad said that Hail is set to become a major tourist destination in Saudi Arabia, attracting tourists from Southeast Asia, and the Arab region.

The city of Hail, capital of the eponymous province, is located in the center of northern Arabian Peninsula on the eastern side of the massive Jibal Aga and at the fringe of the vast desert of the Rub' Al-Khali.

Jehad said, travellers will find many activities in Hail especially historical sites to explore.

"It is the city where forts and palaces originate which were once under the rule of the Ottoman’s. There's a yearly festival in Hail, which is expected to attract one million tourists. The festival is from December 22 until February 10 next year. We target to open the hotel by late January or early February so we could cater to tourist arrivals.

"We know the hotel will do well as tourism numbers are increasing. This is the first year Saudi Arabia is marketing tourism overseas. The newly launched tourist visa system is drawing holidaymakers to the kingdom," said Jehad.

In September, Saudi authorities unveiled the tourist visa scheme allowing the nationals of 49 countries from Europe, Asia and America to apply for a multiple visa. The instant tourist visa is obtainable online or upon arrival at the Saudi airports.

(File pic) Holiday Villa Hail, Hotel Saudi Arabia will open late January or early February next year. Courtesy Photo

Jehad said, Manazeli will market the hotel in Southeast Asia, including Malaysia.

"We will invite top 20 travel agents in Malaysia, Singapore, Indonesia and Brunei to attend the grand opening and present Hail as a new destination for people to come visit," he said.

Manazeli, founded in 1975 and also involved in real estate, F&B, acquisitions and professional management has been the exclusive agent of the Holiday Villa brand in Saudi Arabia since 2009.

Their maiden hotel together, Holiday Villa Madinah Al-Munawarah is now running in its seventh year.

In 2015, Holiday Villa Bakkah opened in Mecca.

Jehad said the Holiday Villa brand has been growing from strength to strength in Saudi Arabia.

"We are working with Holiday Villa Hotels & Resorts for a second hotel in Mecca. We are in negotiations with the owners of an existing 800-room five-star hotel. We are talking to them to use the Holiday Villa brand and to allow us to operate it under a long term lease. We hope the agreement will be signed by early next year.

"Mecca is an attractive market. It is attracting around 1.8 billion Muslim pilgrims a year from around the world and there is always high demand for quality hotel rooms. Although many hotels open every year in Mecca, the rooms are never enough," said Jehad.

Holiday Villa Hotels & Resorts, set up over two decades ago, positions itself as global leisure and business class hotels, resorts and service apartments offering their unique brand of Malaysian hospitality while up keeping international trends and standards.

Its chairman, Tan Sri Azman Shah Harun, said Saudi Arabia is an important market for the group and that the partnership with Manazeli is long term.

"In Saudi Arabia, you need a strong local partner. If other hotel groups approach us to operate their properties, we will go in with Manazeli," said Azman.

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ECRL 12.85% done

ERCL 12.85% completed, says MRL chief (file pic)

By Sharen Kaur

  Malaysia Rail Link Sdn Bhd (MRL) said the RM44 billion East Coast Rail Link (ECRL) project's overall completion rate currently stood at 12.86 per cent as compared to 10.18 per cent in June 2019.



  CEO Datuk Seri Darwis Abdul Razak said, construction works involving tunnels and viaducts along the 223-km Dungun-Mentakab stretch (also known as Section B) was progressing according to plan.
  “Site clearing and earthworks are actively taking place on multiple sites along Section B where there are no alignment changes to our Railway Scheme following the resumption of the improved ECRL project back in April 2019,” he said in a statement this week.



  The ECRL is a 640km standard gauge double-track railway line connecting Port Klang on the Straits of Malacca to Kota Bharu, linking the East Coast Economic Region states of Pahang, Terengganu and Kelantan to one another and to the west coast and central region.
  The project, scheduled for completion by December 2026, is expected to cut travel time between Kota Baru and Putrajaya in just four hours, at the speed of 160kph.
  It would carry both passengers and freight.



  MRL will unveil the proposed realignment for Kota Baru-Dungun (also known as Section A) for the ECRL during its Public Inspection exercise on Nov 25.
  The proposed Section C involves a 162km alignment from Mentakab to Port Klang.
  Works on Section A and Section C will commence once the final railway scheme for both sections is approved by the Land Public Transport Agency (APAD).


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ECRL to unveil re-alignment for Kota Baru-Dungun

ECRL to unveil re-alignment for Kota Baru-Dungun on Nov 25 (file pic)

By Sharen Kaur

  Malaysia Rail Link Sdn Bhd (MRL) will unveil the proposed realignment for Kota Baru-Dungun (also known as Section A) for the East Coast Rail Link (ECRL) project during its Public Inspection exercise on Nov 25.



  CEO Datuk Seri Darwis Abdul Razak said MRL had received conditional approval for its ECRL Railway Scheme for Section A from Agensi Pengangkutan Awam Darat (APAD) on Nov 4, paving the way for the Public Inspection exercise to ensure the project’s rail alignment meet the interests and expectations of the local populace.
  MRL said in a statement the public can give feedback and suggestions during the three-month Public Inspection for the proposed Section A, which comprises a 210.4km mainline, a 14.4km future spurline that will link the ECRL mainline in Kelantan with the port of Tok Bali, and six-passenger/ freight stations.



  The proposed 210.4km mainline will consist of 43.9km rail alignment in Kelantan and the remaining 166.5 km alignment in Terengganu.
  Two stations have also been proposed for Kelantan namely Kota Baru and Pasir Puteh, and four stations in Terengganu located at Jerteh, Bandar Permaisuri, Kuala Terengganu, and Dungun.
  Darwis said the proposed realignment for Section A was in line with the comprehensive value engineering exercise that resulted in cost savings for the improved ECRL project.
  He said, the 210.4km stretch would be positioned inland instead of the coastal areas of Kelantan and
Terengganu.



  The Public Inspection information booth for Section A will be operating on weekdays at APAD headquarters in Kuala Lumpur from Nov 25 until Feb 24, 2020.
  Darwis said MRL has also initiated the environment impact assessment, social impact assessment, and heritage impact assessment for Section A to the authorities.
  "These reports are prerequisites for APAD granting final approval to our Railway Scheme," he said.


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Central i-City eyes over RM40m revenue in 1st year

Central I-City mall general manager Carrie Kon (right) and CPN Ventures Sdn Bhd chief operating officer Anthony Dylan at the Central i-City mall in Shah Alam recently. PIC BY OWEE AH CHUN

By Sharen Kaur - November 23, 2019

KUALA LUMPUR: Central i-City mall, located in i-City in Shah Alam, Selangor is targeting revenue of more than RM40 million in its first year of operation.

CPN Ventures Sdn Bhd chief operating officer Anthony Dylan said it targeted to register RM60 million in the second year of operation and double-digit growth year-on-year.

“We think it is achievable, given the current footfall of about 800,000 a month and our tenant mix. We are targeting one million visitors a month, so we will get healthy numbers from the third year,” he told the New Straits Times in an interview.

Central i-City, the largest shopping mall in Shah Alam, was developed at a cost of RM850 million. The 926,000-sq-ft six-storey mall with more than 350 retails stores already officially opened on June 15.

The mall is a joint-venture project between Thailand’s largest retail property developer Central Pattana PCL (CPN), with a 60 per cent stake, and I-City Properties Sdn Bhd (ICP), an affiliate of I-Berhad that holds 40 per cent.

CPN Ventures is a wholly-owned subsidiary of CPN while I-Berhad is the master developer of the RM10 billion i-City development.

Central i-City is CPN’s flagship project in Malaysia and its first internationally, signifying the group’s advancement into the Asean shopping centre landscape.

Selangor Menteri Besar Amirudin Shari had identified i-City as part of the state’s golden triangle and
expected the location would be a catalyst to speed up the development of the state.



I-Berhad was invited recently to showcase i-City at the launch of the World Town Planning Day by Federal Territories Minister Khalid Abdul Samad.

Meanwhile, anchor tenants in Central i-City are Sogo Department Store (200,000 sq ft), TGV Cinemas (40,000 sq ft) and Village Grocer (40,000 sq ft).

Dylan said retailers like Padini Concept Store and Brands Outlet had over achieved their sales target.

“Retailers are performing well because we cluster them. There are eight clusters for shoppers to visit such as fashion and accessories, food and beverages (F&B), telecommunication and information technology, and services like banks. There is one cluster for the anchor tenants. This creates shopping convenience. It is also easy for shoppers to get from one place to another as we have 84 sets of escalators and more than 20 elevators in the mall,” said Dylan.

Besides collecting monthly rental income from the retailers, where the lease is at an average RM8 per sq ft, the mall is churning revenue from recycling food waste from their food and beverage tenants.

CPN Ventures is collecting food waste from the mall’s food and beverage tenants and sending them
to a farm that breeds black soldier flies in Bestari Jaya, Kuala Selangor, with a RM41 million facility, to be recycled into animal feed and plant fertiliser.

The company’s general manager, Carrie Kon, said many malls faced problems with dirty and smelly loading bays.

“The stench of rotting food is a common issue in most loading bays. We are doing refuse management as a solution to smelly waste.”

Kon said each F&B outlet was given a white bucket to help with the separation process and trolleys would come by twice daily at 10am and 6pm to do collection.

“We collect 1.2 million tonnes of food waste a day on weekdays and up to 1.9 million tonnes on weekends, and send them to the farm,” she said.

The mall’s top three food waste contributors are the food court, a chicken rice shop and a Chinese restaurant.

The food court alone can generate more than 130kg of wet waste a day.

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YTL sees rail opportunities in U.K.

YTL Corp Bhd developed the Express Rail Link, which operates the KLIA Ekspres and KLIA Transit services from Kuala Lumpur International Airport (KLIA and klia2) and the city. (PIC:ERL)

By Sharen Kaur - Published in NST Business, November 21, 2019 

KUALA LUMPUR: YTL Corp Bhd, the biggest Malaysian investor in the United Kingdom, plans to foray into the state's rail industry, said executive chairman Tan Sri Francis Yeoh.

Yeoh said the rail sector in the UK is a growing industry and offers a bright future for companies looking for opportunities.

It was reported that the UK rail system contributes £36 billion to the UK economy annually.

Research from Oxford Economics published by the Railway Industry Association (RIA) last year showed that the sector contributed more to the UK than food and beverage, tobacco manufacturing, and the chemical and pharmaceutical industries.

Yeoh told the New Straits Times in an interview that YTL was keen to tap investment opportunities in the rail sector there.

But the plan would not be immediate as it wanted to focus on constructing new transport infrastructure for its flagship property development project Brabazon, he added.

YTL Developments UK, a wholly-owned subsidiary of YTL group, is developing Brabazon, a
mixed development located at the former Filton airfield in Bristol.

The gross development cost for Brabazon is over £2 billion and will contain 2,675 homes and 25ha employment space, among others.


Yeoh, who recently was awarded the honorary British award of Knight Commander of The Most Excellent Order of the British Empire (KBE), said YTL Developments would invest over £100 million to develop the infrastructure comprising a new MetroBus, railway station and integrated
cycle routes to connect Brabazon to neighbouring and existing networks.

“It's a small project. We are familiar with railway development but we want to experience developing the connectivity between rail and bus with Brabazon and then open our opportunities to look at regulated assets in the rail side in the UK.

“We plan to build a railway station and some railway facilities for people to get to the development. All the bicycle tracks and rails are improvement for Bristol. This will cut down a lot of cars on the road," said Yeoh.

Construction for the transport infrastructure may start next year, said Yeoh, who was conferred the knighthood in October by Queen Elizabeth II for his contribution in strengthening UK-Malaysia bilateral relations.

"Rail development is one of the toughest businesses but we have the expertise as we developed the Express Rail Link (ERL) in Malaysia. But building a large scale rail project is different. We have not gone into that field but we will experience it with this small project in Bristol," said Yeoh.

The ERL operates the KLIA Ekspres and KLIA Transit services that connect Kuala Lumpur International Airport (KLIA and klia2) and the city.

The services were launched in 2002. The non-stop 57-km journey on KLIA Ekspres between KL Sentral and KLIA takes only 28 minutes.

ERL recorded 50 million passengers in 2014, 60 million in 2015, and 75 million in 2016.

It received 95 million passengers last year and welcomed its 100 millionth passenger on July 25 this year.

ERL's on-time performance record is 99.7 per cent with 137 trips daily on non-stop express service, and 100 trips daily on transit service.

"ERL has more than 100 million passengers, currently. It is now attracting around 10 million passengers a year and taking five million cars/bikes of carbon dioxide off the road. It's a great milestone for YTL and this is something we may want to replicate in the UK," said
Yeoh.

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WCT and CCCG to launch Core Residence @ TRX on 25/12

An artist impression of the Tun Razak Exchange (TRX) which will house Core Residence @ TRX.

  WCT Holdings Bhd, substantially owned by Tan Sri Desmond Lim of the Pavilion group, will launch a residential project, Core Residence @ TRX, at the Tun Razak Exchange (TRX) in Kuala Lumpur on 25 November, 2019.
  The RM1.4 billion high-end freehold project will be developed on a 1.65-acre land in the Kuala Lumpur International Financial District.



  It will feature three blocks of serviced residences with 700 residential units worth RM1.4 billion.
  Core Residence @ TRX is a joint venture (JV) project between WCT and China Communications and Construction Group (CCCG). It will be developed by Core Precious Development Sdn Bhd, in which, WCT and CCCG hold 80% and 20% stake, respectively.
  The project's official groundbreaking ceremony was held in January, to symbolise the commencement of project construction.



  Core Precious chairman and managing director Zhang Bao said in statement issued today that the company strives to make Core Residence @ TRX the benchmark for modern and sustainable urban living in Kuala Lumpur.
   Core Residence @ TRX will feature naturally-lit and well-ventilated property units that embrace the iconic views of the Kuala Lumpur cityscape, complemented by top-notch amenities.
  Zhang Bao said, the project is well-positioned to be the frontier of global living for professionals and financial practitioners who will live and work in the business district of Kuala Lumpur.


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J-Hotel by Dorsett opening 12/12

By Sharen Kaur

  J-Hotel by Dorsett in Kuala Lumpur is scheduled to open on 12 December 2019 and will be Dorsett Hospitality International’s first boutique hotel here.

J-Hotel by Dorsett Kuala Lumpur

  Vibrantly fashionable, J-Hotel by Dorsett is situated in the heart of Kuala Lumpur's Golden Triangle and the bustling landmark of Bukit Bintang, just 5 minutes’ walk from Dorsett Kuala Lumpur.
  The 12-storey hotel has 154 rooms, with four different room categories ranging from Superior, Deluxe to the Plus category.

  Operating under the group’s d.Collection brand, the rooms are intimately designed, comfortable and modest, complemented by a casual dining that’s trendy and engaging.
  Its locality within the vibrant city centre of Kuala Lumpur's shopping, dining, entertainment and commercial entities makes J-Hotel by Dorsett the ideal choice for both business and leisure travellers.   
  The hotel is within close proximity to some of the city's tallest skyscrapers such as The Exchange 106 within the development of TRX area, Petronas Twin Towers and KL Tower.
  The hotel provides complimentary scheduled shuttle service for guests to travel between Dorsett Kuala Lumpur and J-Hotel by Dorsett, Pavilion shopping mall and other nearby local places of interest.

  The hotel is offering attractive opening rates from RM208+ onwards until 31 March, 2020 in conjunction with its opening. Book direct at www.dcollection.com/j-hotel and log on to www.facebook.com/jhotelbydorsett for more information!


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Sunway healthcare targets 2,000 beds

By Sharen Kaur - Published in NST Business, November 15, 2019 

PETALING JAYA: Sunway Bhd will spend RM1.5 billion to build six hospitals over the next two to five years, which could be a prelude to the listing of its healthcare division.

The group is also planning to increase the number of beds at its flagship Sunway Medical Centre (SMC) in Bandar Sunway, here, to 1,100 from 617 currently.

It was reported that up to RM400 million would be spent to expand SMC, which comprises Tower A, B and C. Two new blocks — Tower D and E — are under construction.

Sunway Healthcare Services managing director Lau Beng Long said the group might add a sixth tower (Tower F), subject to planning approval.

“Tower D and E will be ready by the end of 2021. Altogether, we will have 1,000 beds in SMC by then. Tower F will add an additional 100 beds,” he said.

Lau said by 2024, Sunway’s healthcare division would have a total of 2,000 beds from 857 currently.

SMC and Sunway Medical Centre Velocity (SMCV), which opened two months ago, have 617 and 240 beds, respectively.

“Tan Sri (Jeffrey Cheah) has said he wants to go for an initial public offering (IPO) of the healthcare division to raise funds. We think the IPO may start with SMC. As to when (the IPO will launch), we are not sure yet,” Lau told the New Straits Times in an interview recently.

                       

Sunway Healthcare Services managing director Lau Beng Long says he expects the division to contribute at least 20 per cent to group revenue by 2025.-NSTP/ Aziah Azmee

Cheah, who is Sunway Group founder and chairman, had indicated in 2017 the group planned to
list its healthcare business within two years.

Sunway is expected to hold a substantial majority stake in the listed healthcare entity, similar to what it is doing with Sunway Real Estate Investment Trust.

It is said the healthcare division should carry a value of at least RM1.5 billion when it goes public.

The main pure-play hospital groups currently listed on Bursa Malaysia are IHH Healthcare Bhd and KPJ Healthcare Bhd.

IHH is the largest listed hospital group globally with more than 15,000 licensed beds in 80 hospitals across 10 countries while KPJ is the largest private medical hospital operator in Malaysia with about 3,000 beds.

Sunway’s healthcare division reported revenue of RM459.7 million (+26.1 per cent year-on-year) and a pre-tax profit of RM59.9 million (+6.2 per cent year-on-year) last year.

The improved performance was mainly driven by higher patient volume and the opening of new wards at SMC’s Tower C last year.

Lau expects the healthcare division to contribute at least 20 per cent to group revenue by 2025, from 10 per cent currently.

“Sunway is a diversified group and the core business is property development and construction. Every single division of the group is growing.

“So, even if the healthcare division is growing, the contribution to revenue and pre-tax profit will be about 20 per cent in five years,” he said.

Lau said the six new hospitals would be built at Sunway’s other townships in the central, northern and southern regions.

In Penang, Sunway will open a 180-bed hospital-cum-nursing home in Seberang Prai by mid-2021 .

It will also build a 120-bed rehabilitation hospital in Paya Terubong.

“Construction will likely start at the end of next year. There are a few big hospitals in Penang but the state lacks rehabilitation centres for stroke and heart patients, among others. This is the market that we are targeting in the northern region.”

In Johor, Sunway plans to build a 300-bed hospital in the RM12 billion Sunway Iskandar, a joint-venture (JV) township development between the group and Khazanah Nasional Bhd.

Lau said construction would commence in the third quarter of next year.

“Sunway Iskandar is a JV project with Khazanah, but for the hospital, we will build and operate it on our own,” he said.

Sunway will also develop a 200-bed hospital coupled with assisted living facilities and a nursing home in Tambun, Perak, as well as a 250-bed hospital in Kota Damansara, adjacent to Sunway Nexus.

“The hospital in Tambun may commence construction in the third quarter of next year, while the one in Kota Damansara is expected to be ready by end-2022.

“We are also planning to build a hospital in Kota Baru. It has been approved by the Health Ministry,” added Lau.

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Saran Singh bestowed the title of FMNS

By Neshall

  Saran Singh AMN, AMP (FRNS, PNM, TNM) has been appointed and honoured as a Foundation Fellow of the Malaysia Numismatic Society with the title of FMNS by Malaysia Numismatic Society - a non-profit organisation dedicated to the research, collection and documentation of coins, banknotes, medals, tokens and related exonumia items.

Saran Singh (centre) with the prestigious honour

   The 74-year old was bestowed the award at a grand dinner event in Kuala Lumpur today (November 16, 2019) attended by more than 200 coin collectors.

  “It's an honour and privilege to receive this award and it wouldn’t have been possible without my family’s moral support and inspiration...they are truly my backbone. I sincerely thank each and everyone from Malaysia Numismatic Society," said Saran, during the event, witnessed by his eldest son, Dalwinder Singh and grandson, Naveen Singh.

L-R : Naveen, Saran, Dalwinder - the 3 generations of Numismatists

  Saran was born in Kuala Lumpur. He received his early education at St. Gabriel's School in Kuala Lumpur. 
  He started to enter the field of numismatics in 1969 and has to date wrote and published nearly 20 books and articles. His specialities includes Penang, Straits Settlements, Sarawak, British North Borneo, the tin/lead coins of early Brunei, Singapore Merchants Tokens, Sikh coin of Punjab and Malaysia, Singapore and Brunei coins and Banknote.
  On 3rd December 1989 he received the honour P.N.M (Pakar Numismatic Malaysia) by Malaysia Numismatic Society.

  Among his most autographed books are "The Encyclopaedia of the Coins of Malaysia, Singapore and Brunei 1400-1967" and the second edition, "The Encyclopaedia of the Coins of Malaysia, Singapore, and Brunei, 1400-1986".
  Both the books have become a reference guide for many Malaysia, Singapore and Brunei coins collectors.
  The second edition book with 696 pages (weight : 2.08kg) sold for RM1500 in Malaysia Numismatic Society (MNS) Auction and it is worth much more than that today. However, it is almost impossible to find the book in the market now.

  A book he published not too long ago is "The Encyclopaedia of Dry Rubber Export Coupons of Malaya, Netherlands East Indies and Ceylon (1922-1942).
  Launched on 16 December 2016 with his wife, Amarjit Kaur Grewal by his side, the research for this book took 2.5 years to complete. It is a follow up of the second edition of the book with the similar title published in 1990.
  The book was officially launched on 8 January 2017 as a KWNM publication at the Malaysia Numismatic Society auction.
  The second edition covers the detailed history of rubber export coupons for Malaya, Netherlands East Indies (now Indonesia) and Ceylon.
  The book also documents and catalogues petrol ration coupons, share certificates and government bonds.

   This book went on to win the prestigious International Banknote Society (IBNS) Book of the Year 2016 award, the first Malaysian publication to achieve such an honour.
  Limited copies of the second edition are still available for sale and you can purchase autographed copies directly from Saran Singh.
  You can read more about his work at coinsofmalaysia.blogspot.com, a blog which is regularly updated by Dalwinder.

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New airport for Tioman Island?

By Sharen Kaur

  Is there a new airport coming up or no in Tioman Island?

Tioman Island may require a new airport to boost tourism (file pic)

   Well, according to the transport ministry (MoT), a decision had yet to be made on constructing a new airport on the island.
  The MOT said in a statement that the proposal (to build the airport) must be presented to the National Physical Planning Council, before the ministry gives it due consideration.

   The statement came after a Malay-language daily reported Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail saying that the cabinet had approved the construction of a new airport on Tioman Island, and that the project was expected to commence soon.

  Wan Rosdy reportedly said the project would be undertaken by the private sector, together with the Pahang state government, and that only the project’s cost had yet to be finalised.
  A plan to build a new airport near the western coast of Tioman was mooted in 2003. Construction was scheduled to commence in 2004, on reclaimed land off the coast of the village of Kampung Paya.
  However, in 2009 then transport minister Datuk Seri Ong Tee Keat called off the project, citing potential environmental impacts, in particular damage to coral reefs and marine life.

  There was also strong protests in Kampung Paya and two neighbouring villages: Kampung Genting and Kampung Mukut.
  In June 2018, Berjaya Group executive chairman Tan Sri Vincent Tan announced that the group planned to build an airport on the island, which would cost RM1.2 billion. The aim is to boost tourism.
  However, the airport plan raised environmental concerns and fear that there will be further development of resorts and infrastructure, which could cause additional damage to the island’s fragile ecosystems, both on land and underwater.

  On 21st October 2018 close to 100 villagers, NGO members, divers and tourism resort operators, staged a protest against the proposed airport development.
  A few suggestions by the residents include ugrading the existing airport at Kampung Tekek, lengthening the runway to accommodate larger aircraft, and upgrading the jetty to enable an increase in visitors arrival by boat.


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EcoWorld celebrates topping out of West Village

From left: EcoWorld International president & chief executive officer (CEO) Datuk Teow Leong Seng, EcoWorld International executive vice chairman Tan Sri Liew Kee Sin, Parramatta Mayor Lord Mayor Bob Dwyer, Parkview Constructions chairman Tony Touma and EcoWorld International
Australia CEO Yap Foo Leong at West Village’s topping out ceremony, recently.

By NST Property - November 13, 2019

ECO WORLD International Bhd (EcoWorld International) has topped out its maiden property development in Australia, the A$315 million West Village project in Parramatta, located in Sydney’s growth corridor.

The developer, which once bid for Sydney's White Bay Power Station project, said that it has sold 95 per cent of West Village.


Touted to be one of the tallest residential buildings in Parramatta, West Village will feature 398 luxury light-filled apartments with grand balconies, priced from A$630,000 (one-bedder) to over A$1.26 million (three-bedder).

EcoWorld International celebrated the topping out of West Village with an intimate onsite ceremony, attended by the group's executive vice chairman Tan Sri Liew Kee Sin, it's president and CEO Datuk Teow Leong Seng, and the mayor of Parramatta, Lord Mayor Bob Dwyer.

The developer said in a statement on Tuesday that buyers were eager to capitalise on the project's enviable location to Westfield Parramatta shopping centre and the train station, as well as a wide selection of trendy restaurants, bars and boutiques cafes.

On the ground floor across three street frontages, West Village will feature vibrant retail and intimate alfresco dining precinct with delectable restaurants and cafes.

Designed by world-class architecture firm Woods Bagot and featuring landscaping by Myles Baldwin, a majority of the apartments will boast panoramic views towards the Sydney Harbour Bridge, Blue Mountains and the Central Business District (CBD).

At 40-levels high, West Village is one of only a handful of skyscrapers proposed for the growth corridor to reach its full height.

When completed in 2020, West Village will sit alongside already completed skyscrapers including
Altitude, Skyrise and the soon to be complete 4 Parramatta Square.


EcoWorld International Australia’s chief executive officer Yap Foo Leong said that the developer has always held the view that Parramatta would be the next growth area for Sydney due to its central geographical location in New South Wales and its excellent infrastructure and amenities.

As Sydney’s second CBD, Parramatta is undergoing significant transformation with major infrastructure projects and development to cater to employment opportunities and a growing
population.

"Parramatta truly suits our hallmark for rolling out quality developments in prime locations that can cater to the local needs of the residents, and the success West Village has experienced confirms the prediction that Parramatta is set to become the new CBD," said Yap.

EcoWorld International, whose major shareholders are Eco World Development Group Bhd and Singapore-listed GuocoLand Ltd, has three projects in Australia and 11 in the United Kingdom with total gross development values of AUD698 million and GBP3.9 billion respectively.

The group's entry into Australia began in 2015 with the launch of West Village. It is also developing
Yarra One in Melbourne’s charming South Yarra neighbourhood. Yarra One is under construction and will top out in February 2020.


Over in the UK, the EcoWorld-Ballymore joint-venture is currently developing three prime waterside residential projects in London.


In 2018, EcoWorld London was launched giving EcoWorld an immediate presence in the highly resilient UK mid-mainstream market and the fast-growing Build-to-Rent sub-sector.


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