Malay reserve land in Peninsula has increased
Malay reserve land in the peninsula has increased to 1.93 million hectares in 2013, said Natural Resources and Environment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar. There were allegations that the amount of Malay reserve land was declining, when in fact it had increased by 30% compared to 1997. Admitting that there were Malay reserve lands that had been developed, Wan Junaidi however said these had been replaced. He also asked all state governments to monitor the use of Malay reserve land in their respective states. The National Land Code (Amendment) Bill 2015 was passed with amendments, and the Strata Titles (Amendment) Bill 2016 was tabled for second reading at the debate on the National Land Code (Amendment) Bill 2015 on Wednesday. (The Malay Mail Online)

LMT to build new port near Sitiawan
The Lumut Maritime Terminal (LMT) is planning to build a new port on the shores of Sungai Dinding near Sitiawan. Feasibility studies are still ongoing to determine if the port can be built on a 46ha site there. Facilities at the port will include a vessel pier, mechanical cargo handling at the berth barge and larger storage area. An additional port will allow LMT to handle 7 million tonnes of cargo, compared to the current 3 million tonnes, and separate clean cargo such as limestone, fertilisers, sugar, wheat and other grains. The development of the Lumut Port in Kampung Acheh into a modern port is expected to cost RM300 million and is now underway, including the construction of a new berth barge. (Free Malaysia Today)

I-Bhd sees 50% rise in 1Q net profit
I-Bhd is expecting better performance for FY16 following a 50% jump in its 1QFY16 net profit. The better performance was attributed to the group’s unbilled sales, which grew to RM743mil from RM552.5mil a year ago. The group has also received positive response to the recently launched Hyde phase of i-City, ensuring a strong revenue pipeline for 2017. Deputy chairman Datuk Eu Hong Chew said that the property development revenue, which had grown eight-fold since 2012 to RM200 million in 2015, is expected to hit its annual revenue target of RM500 million by 2018. I-Bhd expects both the property development and leisure segments to continue contributing positively in the current financial year, driven by sales of ongoing projects and the recent launch of Hyde Tower in i-City. (The Edge Markets)

IWCity slips into red in 1Q
Property developer Iskandar Waterfront City Bhd’s (IWCity) results for 1QFY16 slipped into the red, posting a net loss of RM4.8 million on higher finance costs and lower revenue, compared to a net profit of RM260,000 in the same quarter last year. Revenue slumped 64.15% to RM8 million from RM22.33 million a year ago. Its revenue for the property sector increased by RM2.2 million to RM2.7 million, while profit improved to RM817,000 compared to a gross loss of RM24,000 previously, due to higher sales and percentage of completion recorded in the development project. The group is expecting more challenges due to increasing concern on oversupply in the market and strict lending policies by financial institutions. However, it is cautiously optimistic about unlocking the value of its land bank and expanding its reach in the property market. (The Edge Markets)

TRC eyeing triple contribution from property
Construction company TRC Synergy Bhd expects contribution from its property segment to rise to between 20% and 30% of its group revenue in two years, from about 10% now, which is contributed by its development arm TRC Land Sdn Bhd. The bulk or 90% of its revenue is sourced from its construction segment now. The company is finalising its Ara Damansara mixed development that comprises service apartments, a hotel, an office block and a retail mall. The project is located at the Ara Damansara light rapid transit (LRT) station, and is a joint transit-oriented development (TOD) with Prasarana Malaysia Bhd. The project will be launched next year, and has an expected GDV of RM1 billion. On the group’s projects in Sarawak, executive director Abdul Aziz said the company had been shortlisted for the Pan Borneo Highway project, for packages valued at between RM1.4 billion and RM1.5 billion. (The Edge Markets)

Malaysia and China to explore joint military collaborations
Malaysia is ready to discuss further possibilities of military collaborations with the People’s Republic of China to tackle the threats of extremism, terrorism, kidnappings and other criminality, said the Prime Minister’s Office (PMO). Malaysia is also ready to explore the possibility of working with China and Thailand to conduct a swift feasibility study to consider the development of the Kuala Lumpur-Bangkok High Speed Rail and East Coast Rail Link to enhance connectivity and tourism for Malaysia and Thailand. In addition, Malaysia also welcomes China as a partner to jointly develop long-term tourism infrastructure and property related investments in Malaysia. (The Star Online)