Sunway-Daiwa JV to build pre-fab houses in Iskandar
Property and construction company Sunway Bhd had joint-ventured with Japan’s top pre-fabricated homebuilder, Daiwa House Industry Co Ltd (DHICL) to build 100 high quality units of pre-fabricated homes in Sunway Iskandar, Johor. This means that the housing structures are produced off-site in a factory before the final fitting onsite, resulting in higher quality homes, reduce foreign labour dependency, shortens delivery time and less environmental pollution. The project in Sunway Iskandar’s Lakeview Precinct has a gross development value of RM210mil, and is expected to be launched in 2016 to attract Malaysians, Singaporeans and Japanese buyers. (The Star Online)

FGV buying RM1bil stakes in Indonesian plantation group
Felda Global Ventures Holdings Bhd (FGV) has been in talks with PT Eagle High’s controlling shareholder Tan Sri Peter Sondakh to acquire some 30% of his equity interest in the Indonesian plantation group, valued at about RM1 billion. PT Eagle High Plantations Tbk is the third largest plantation group listed in Jakarta, and is valued at just over US$1 billion (RM3.74 billion). Sources say the negotiations are in the final stage, with just some minor details to be sorted out before the transaction goes through. (The Malaysian Insider)

FGV seeking buyer for N. American assets
Insiders have revealed that Felda Global Ventures Holdings Bhd., the world’s largest producer of crude palm oil, is seeking a buyer for its assets in North America. Bids for its crushing and refining business in the US and Canada could fetch up to $150 million. FGV had earlier announced that it will sell some assets in order to increase its core palm oil plantation business, expand trade and develop new markets. (The Malaysian Reserve)

Sunsuria targets RM1bil annual property sales
Property developer Sunsuria Bhd is targeting RM1 billion in property sales per year, mainly from its township in Sepang, starting with sales of RM900 million for its financial year ending September 30, 2016. It has changed its financial year end from March to September. Financial year aside, the group’s total launches is estimated to be worth about RM1 billion in the next 12 months, said executive director Kong Wai Seng. (The Sun Daily)

Mah Sing: Ringgit’s fall will not affect housing market
Property developer Mah Sing Bhd is optimistic that the weakening Ringgit will not affect the housing market, especially in regards to first-time buyers as demand is still strong. The company achieved the highest domestic property sales last year, and is aiming for the same sales figures this year. The group’s residential launches in the next few months include areas like Sungai Buloh, Cheras, and KL South. (Malaysia Chronicle)

EPF’s 1MDB investment only RM200 mil
Prime Minister cum Finance Minister Datuk Seri Najib Razak has said that the Employees Provident Fund’s (EPF) investment in strategic investment fund 1MDB is only limited to RM200 million. In contrast, EPF’s investment in Pembinaan PFI Sdn Bhd totalled RM25 billion, which is guaranteed by lease back from the federal government. EPF’s financing to government-linked companies (GLC) is in the form of fixed rate loans and bonds. This was in reply to a query regarding GLCs who had borrowed from EPF and how the money was used. (The Rakyat Post)

Quake in KL possible due to ancient fault lines
A geological expert has said that concerns about an earthquake hitting Kuala Lumpur are not misplaced, following the quake tragedy in Sabah last week. The federal capital is located near the epicentres of ancient fault line zones, which seem to have been reactivated by active compressed tectonic plate boundaries. This could be a cause for concern, as many structures in the city are not built to withstand earthquakes. (The Malaysian Insider)

(Source: The Star)

(Photo source: The Star)