UEM launches Phase 3 of RM800mil industrial park
UEM Sunrise Bhd has launched the third phase of the Southern Industrial and Logistics Clusters (SILC 3), and is looking to spend RM200mil to RM350mil on infrastructure within the Johor industrial park project in the next five years. SILC is a fully-integrated sustainable industrial park, spanning 1,300ha with a GDV of RM800 million. Phase 1 was launched about 10 years ago, and Phase 2 a few years later. Plots of 1,104-ha of industrial land in the first two phases of SILC, which have a combined GDV of RM1.6 billion, have been sold out, with the last plot being purchased by Korean cosmetics company Amorepacific last year. The entire project is slated for completion by 2021. (The Sun Daily)
Moody’s: Drop in household loan growth credit positive for Malaysian banks
The slowdown in Malaysia’s household loan growth during 2016 from 2015 is credit positive for Malaysian banks’ asset quality as it points to a slower pace of debt accumulation among households, said Moody’s Investors Service. The rating agency expects household debt to gross domestic product for 2016 will moderate from 89% as at end-2015. In 2016, the growth in household loans was driven by safer housing loans – specifically, loans supported by property collateral – and which exhibited low delinquency ratios, while the growth in riskier unsecured loans remained weak. The continued deceleration of household loan growth will help stabilise the household leverage situation in Malaysia, which is among the highest in Asia. (The Sun Daily)
Perlis Mentri Besar Datuk Seri Azlan Man. ― Foto ihsan Facebook/Azlan Man
RM311.4mil mixed project to boost Perlis economy
TH Properties Sdn Bhd (TH Prop)-Perlis State Economic Development Corp (PKENPS)’s mixed development project in Kuala Perlis is expected to contribute up to RM1.3 billion to the state’s economy. The RM311.4 million project on 6.58 hectares was one of several mega projects between the state government and TH Prop. The mixed development project is expected to be completed within five to seven years, and comprise a shopping complex, a hotel, two 35-storey service apartment towers as well as shoplots and offices. The project would be developed in five phases, starting with the building of the two-storey shopping mall, followed by 36 units of shophouses. It is also part of TH Prop’s plan to expand it mark in the local market. (Malay Mail Online)
Exco: Pakatan has quadrupled affordable housing in Penang
The Pakatan Harapan Penang government has built nearly 21,000 units of affordable housing below RM72,500 between 2008 and 2016, said state executive committee member Jagdeep Singh Deo said in response to a federal minister. The housing, town and country planning committee chairman stressed that the number is four times more than what the Barisan Nasional (BN) coalition had built from 2000 to 2007. The federal minister had previously expressed his wish to expand the federal territories to include Penang, and cited affordable house ownership as one of the reasons the state should be federalised. (Malay Mail Online)
Malaysia banks on aerospace sector to attract foreign investments
The Malaysia Investment Development Authority (Mida) is promoting the aerospace sector as a game-changer to attract foreign direct investments and boost the country’s industrial image. Aerospace was seen as a strategic industry in Malaysia’s investment-promotion strategy, as it was in line with the country’s industrialisation and technological development programmes. Malaysia’s specialised industry parks, which cater to technology-intensive industry and research and development activities, such as the Technology Park Malaysia in Bukit Jalil, Kuala Lumpur and the Kulim Hi-Tech Park in Kedah, can provide the crucial support in promoting aerospace-related activities. (The Star Online)
The collapsed road leading to the entrance of the PJLIP during an earlier incident
Building tenants fear for safety after boundary wall collapse
The construction of a mixed development high-rise on Jalan Kemajuan, Petaling Jaya has caused tenants of an existing light industrial building to worry about their safety. The neighbouring construction work by PJ Midtown had caused the PJ Light Industrial Park (PJLIP) boundary wall to collapse as well as damaged draining and piping for the fire hydrant, sewage and stormwater runoff. PJLIP’s basement had flooded and it was believed to have caused clumps of concrete from the ceiling to give way, denting the roof of a car parked underneath. Other damages include deep cracks in the road at the building’s entrance, and the collapse of the guardhouse. PJ Midtown Development confirmed they would comply by deadlines for remedy work set by MBPJ. (Star Metro)
Qatar visa fees waived for Malaysians
Malaysians travelling to Qatar would be exempted from paying for the visa. The agreement would be effective immediately after the follow-up to be made by Malaysia’s Ambassador to Qatar with the Qatar government. Malaysians would also be accorded the visa on arrival facility allowing them to stay in Qatar for 60 days and an additional 30 days on application. Currently, Malaysians have to pay 100 Qatar Riyal for a stay of 30 days. (Malay Mail Online)
