Sime Darby to develop affordable housing project with RM155mil GDV
Sime Darby Property Bhd is developing a new affordable housing project, Harmoni 1, located in the City of Elmina, Shah Alam with a GDV of RM155mil. The project would be the first of its kind in Malaysia to adopt the Divergent Dwelling Design (D3) concept. Two complete prototypes of the D3 concept house would be completed by middle of the year before pursuing the actual project in 3Q this year. Sime Darby Property’s D3 sustainable homes concept involves pre-fabrication and mass production of components for residential units that enable cost-saving, higher product quality, reduction of on-site labour and minimised wastage. The houses would be priced between RM200,000 and RM250,000 with built-ups of between 900 and 1,000 sq ft. Potential buyers must register with the Selangor Housing and Property Board, which will then submit the list of qualified buyers to Sime Darby Property. (The Star Online)

MoU to develop Bandar Malaysia transport hub lapses
The MoU for the proposed collaboration between MRCB and two other companies to develop an integrated transportation terminal at Bandar Malaysia, Kuala Lumpur, has lapsed. MRCB stated that the non-binding MoU with Wondrous Vista Development Sdn Bhd and IWH CREC Sdn Bhd was no longer in effect. However, no reason was given for not extending the MoU, which was signed on June 16 last year with 6-month validity. The 486-acre Bandar Malaysia is envisioned as Malaysia’s first integrated transit-oriented, mixed-use cluster. It was reported that the KL terminus of the planned KL-Singapore high-speed rail would be integrated with the hub. (The Star Online)

Sime Darby announces creation of 3 standalone entities
Sime Darby Bhd will create three iconic standalone businesses with pure plays in the plantation, property and trading and logistics sectors. The pure plays, Sime Darby Plantation Bhd and Sime Darby Property Bhd, will be listed while the trading and logistics businesses will remain under Sime Darby, which will retain its listed status. The move will benefit shareholders from the growth potential in each of the three entities. (New Straits Times Online)

Coordinator in each state seat to smoothen development projects
The Selangor Federal Action Council (MTPN) has appointed a coordinator for each state constituency in a transparent move to ensure smooth implementation of development projects allocated by the federal government. The voluntary posts was seen an appropriate step as the differences in policies between the Selangor state government and federal government could stifle development projects planned by Putrajaya. (Malaysiakini)

Photo from The Pictureteller

Photo from The Pictureteller

Oversupply and unoccupied homes may create ‘ghost towns’
The National House Buyers Association (HBA) has warned of the potential impact of unoccupied homes, amid concerns that the oversupply of homes in Johor could lead to “ghost towns”. Residences with an abundant number of unoccupied homes would have problems forming joint management bodies, or management corporations in the case of stratified properties. The everyday running of these management bodies will be a challenge if there is lack of residents, and the cost of management and maintenance will be an issues if owners of unoccupied properties do not pay their dues. A minimum of 75% contributions is needed for a management body to function effectively, especially in condominiums and apartments where facilities were expensive to maintain. (Free Malaysia Today)

Borneo Oil acquires quarry land for RM100.58mil
Borneo Oil Bhd is acquiring seven parcels of quarry land measuring a total of 38.06ha in Lahad Datu, Sabah for RM100.58 million cash. Its wholly-owned subsidiary Borneo Oil & Gas Corp Sdn Bhd has entered into sub-lease agreements with the vendors and marble quarry operator agreements to operate the quarry lands. The acquisition is in line with its expansion plan into limestone mining and related activities. The company expects the acquisition to be completed within two months and contribute to its overall earnings in the future. (The Sun Daily)