Malaysians third largest investor in Australia, UK
Malaysia is the third-largest investor in the property sector in Australia and the UK, according to property consultancy Knight Frank’s Global Cities: The 2016 Report. Singapore tops the list of Asian investors in the US, UK and Australia, while China investors have ranked second over the last two years. South Korea tops the list of property investors to continental Europe. Malaysia’s investments amount to US$5.61 billion, with the UK receiving US$2.23 billion, in the period between 3Q2013 and 2Q2015. Malaysian investors are keen to diversify their wealth into overseas markets, while the weak ringgit has attracted interested from the Taiwanese, Japanese, Singaporeans, Middle Easterners, Germans and the French, particularly in five-star hospitality assets and office space. Kuala Lumpur is one of the cities to watch, as foreign developers and institutional investors see real estate opportunities. (The Star Online)

Stats by Knight Frank; Graphics from The Star Online

China firm bags RM2.32bil land reclamation job in Penang
Eastern & Oriental Bhd (E&O) has awarded the RM2.32 billion land reclamation works to Chinese contractor China Communications Construction Co Ltd (CCCC) for the proposed Seri Tanjung Pinang Phase 2 (STP2) project in Penang. The letter of award was issed yesterday by E&O’s subsidiary to CCCC’s Malaysian unit, and serves as an acceptance of the tender to reclaim an area measuring 384 acres for a contract sum of RM1.04 billion. The period for completion is approximately 30 months. The LoA also includes the conditional award for the remainder of STP2, comprising Phase 2B and Phase 2C. (The Edge Markets)

MRCB wins RM1.6bil KL Sports City project
Malaysian Resources Corporation Bhd’s (MRCB) subsidiary Rukun Juang Sdn Bhd (RJSB) has been awarded the project to regenerate the Bukit Jalil National Sports Complex into the iconic Kuala Lumpur Sports City. The first phase of the work, Project 1, will be to prepare the Bukit Jalil National Stadium to host the 2017 SEA Games, along with works on Putra Stadium, National Aquatic Centre and National Hockey Stadium, improve integration with public transport and pedestrian access. Project 2 will see the creation of KL Sports City in early 2018, an integrated sports hub with world-class infrastructure, facilities, sports rehabilitation science centre, a youth park, sports museum, youth hostel, convention centre and retail mall. The total cost is RM1.6 billion, and payment will be in kind. (The Malaysian Insider)

MRCB announces 3 major deals in one day
In addition to the KL Sports City project, Malaysian Resources Corp Bhd (MRCB) announced two other major deals yesterday. MRCB’s property outfit MRCB Land has signed a 60:40 joint venture deal with Cyberview Sdn Bhd to develop Cyberjaya City Centre for RM269.5 million. The project will be carried over the next 15 years, and is located on a 141-acre freehold land parcel with GDV of RM8bil-RM10bil. The first phase of CCC will be built over the next seven years starting early next year, and include a convention centre, hotel and retail space. The company also announced that it had signed a management contract for the development of the 29.82-acre Kwasa Utama commercial development in the new Kwasa Damansara township in Sungai Buloh. It will comprise eight office towers, a hotel, an auditorium and one common facility block. The total contract sum is about RM3.1 billion, with completion expected within 12 years. (The Star Online)

Al-Salam REIT to benefit from JB-Singapore RTS
Al-Salam REIT, which was listed in September this year and is Malaysia’s fouth Islamic REIT, has a well-diversified asset portfolio worth RM903 million in investment properties, including KFCH International College and properties from QSR Brands (KFC & Pizza Hut), the Komtar JBCC mall, and Menara Komtar, located right opposite Johor Baru’s Customs, Immigration and Quarantine Complex. The REIT stands to benefit from the upcoming Johor Baru-Singapore rapid transit system (RTS). (The Edge Markets)

Health Ministry wants to ban vaping
The Health Ministry is studying various laws to implement a blanket ban on e-cigarettes, or vaping. Health Minister Datuk Seri Dr S. Subramaniam said it is the ministry’s long-term goal to ban vaping before it becomes a major health issue, as it has become a trend, not only among cigarette smokers who view it as an alternative, but also among non-smokers. He said that the Health Ministry was in discussions with various parties to get their views on the effects these methods of smoking have on health. (New Straits Times Online)