Malaysia and China on course to RM700bil trade goal
Malaysia and China can achieve their goal of US$160bil (RM694bil) in bilateral trade in the next two years with continued investments under the Belt and Road initiative. Transport Minister Datuk Seri Liow Tiong Lai said Malaysia’s infrastructure projects could be implemented faster through strategic partnerships made possible by its close ties with China. According to China’s data, bilateral trade between the two countries totalled about US$100bil (RM433bil) last year. China’s interests in the rail and maritime industry in Malaysia include the RM55bil East Coast Rail Link (ECRL) and forging of the Malaysia-China Port Alliance, as well as a port the RM40bil Melaka Gateway project. (The Star Online)
Mitrajaya gunning for RM1bil new jobs for FY17
Mitrajaya Holdings Bhd is gunning for RM1 billion in new job wins for FY17 (43% achieved) comprising building-related jobs and some infrastructure works. The company recently won a contract to build a higher-learning institution in Kuala Lumpur for RM160mil, to be completed within two years. This is Mitrajaya’s second job win for the year, following a RM274mil Bank Negara malaysia-related job for “A Centre of Excellence” building in Kuala Lumpur. Mitrajaya’s order book stood at RM1.5 billion as at the end of financial year 2016 (FY16). (The Edge Markets)
Yong Tai sees entry of new biggest shareholder
Yong Tai Bhd, which is considering disposing of its fabric manufacturing and dyeing business to focus on tourism-related property development, as a new biggest shareholder. Hong Kong-listed Co-Prosperity Holdings Ltd has taken over the top investor spot from Sino Haijing Holdings Ltd’s wholly-owned subsidiary Impression Culture Asia Ltd (ICAL). ICAL has sold its entire 34.4% stake in Yong Tai – which is developing Impression City in Melaka – over the last two months for RM165mil. (The Star Online)
Titijaya, CREC collaborate for RM575mil Sabah project
Titijaya Land Bhd has formalised its collaboration with CREC for a development project known as The Shore in Kota Kinabalu, Sabah with GDV of RM575 million. CREC is one of the world’s largest construction companies. It is also the JV partner with Titijaya on a project at Embassy Row. Located on the last vacant land in the heart of Kota Kinabalu City Centre, The Shore is a new waterfront premium class hub that entails luxury mixed-use commercial hub docked within a prime waterfront enclave of Kota Kinabalu. (The Borneo Post)
Johor considers using incinerator to overcome garbage problem
The Johor state government will discuss with the Solid Waste Management Department to adopt the “Waste to Wealth” incinerator method at the garbage disposal sites in the state. The method was expected to be able to tackle the issue of the shortage of solid waste disposal sites that is plaguing Johor. Two foreign companies have stated their interests to introduce the method in this state. One is based in China and could produce electricity through solid waste; the other is a German company which can turn solid waste into fuel and already had a project in Sabah. (Astro Awani)
Image from Free Malaysia Today
Vape factory to open in Malaysia despite objections
Despite strong opposition from the Health Ministry and anti-tobacco advocates against e-cigarettes and vaporisers, Malaysia will soon house a vape factory. The Kilang Vape of Malaysia, which is located in Nilai Utama Enterprise Park, Negri Sembilan, was supposed to be launched on May 12 but failed to materialise following objection letters from several concerned groups. Despite calls to regulate the vape industry, the operation of a vape factory is said to be “a business opportunity” and is not illegal as long as the factory operators have the necessary licence. Whether they can sell the products in the country or not, depends on the laws of the respective states. It is understood that the factory will be manufacturing vaporisers and nicotine free e-liquids. (New Straits Times Online)
SPAD: More using public transport in KL
Users of public transport in Greater Kuala Lumpur are expressing higher levels of satisfaction in 2016 compared to 2015, based on the results of the latest poll by SPAD. Of the people polled in the Klang Valley, two-thirds were public transport users. Among those who had never used public transport, 78% said they would consider it, up from 67% in 2015. The percentage of “satisfied” users jumped from 74% in 2015 to 84% in 2016. The overall rise in satisfaction score was mainly led by the extension of the LRT lines as well as convenience of taxi and car-hailing usage due to e-hailing apps. The top reasons for public transport use, especially rail, were to avoid parking hassles and congestion during peak hours. (The Star Online)
Hong Kong’s MTR eyes KL-Singapore high-speed rail
Hong Kong’s rail operator MTR Corporation is expected to propel a new bid from China for the lucrative Kuala Lumpur-Singapore High Speed Rail (HSR) project. A report by the South China Morning Post (SCMP), it plans to collaborate with China Railway Corp (CRC) to bid for the project, which is estimated to cost up to RM43 billion. MTR and CRC, the national railway operator of China, signed a memorandum of understanding for cooperation in the “One Belt, One Road” initiative last December. MTR operates Hong Kong’s Mass Transit Railway and trains in other major cities, including Beijing, London, Australia and Sweden. The company is also a prominent property developer in Hong Kong. (Free Malaysia Today)
