14 Malaysian firms on Forbes Global 2000
Fourteen Malaysian companies made the cut for this year’s Forbes Global 2000 list, with Malayan Banking Bhd (Maybank) once again leading the group. The Malaysian companies that are sharing the spotlight with some of the world’s biggest, most powerful and valuable public firms are:
Maybank (ranked 390th), Tenaga Nasional Bhd (490), Public Bank Bhd (632), CIMB Group Holdings Bhd (671), Sime Darby Bhd (791), Genting Bhd (1,259), Petronas Chemicals Group Bhd (1,319), RHB Bank Bhd (1,405), Hong Leong Financial Group Bhd (1,472), Axiata Group Bhd (1,510), MISC Bhd (1,543), Maxis Bhd (1,596), AmBank Group (1,771) and Petronas Gas Bhd (1,881).
In a statement on Wednesday, Forbes said the ranking was based on a mix of four metrics, namely sales, profits, assets and market value. (The Star Online)
74% of abandoned housing projects revived with RM250mil govt funds
188 projects, or 74% of the 253 abandoned housing projects in Peninsular Malaysia were revived between 2009 and April this year, with government funds amounting to RM250 million. The 188 projects involved 50,883 housing units and 34,293 buyers while the remaining 17 projects were being revived. The ministry is also making preliminary plans to rehabilitate 48 other projects. Developers that are capable of helping the government to save these abandoned projects are needed, because the payment method is different from new housing projects. The government only makes the payment after the project has obtained the Certificate of Fitness for Occupation (CFO), which meant that the developer needs to first fork out their own capital. (Malay Mail Online)
List Sotheby: Malaysia prime land development is attractive
Many foreign ultra high net worth individuals (UHNWIs) are looking at Malaysia’s residential properties on prime locations, drawn by the weak ringgit. According to luxury residential real estate firm List Sotheby’s International Realty Singapore, developments on prime lands in Malaysia are always “interesting” to those looking to invest in the region. Due to the ringgit slump, foreign buyers may be drawn to premium property in prime land developments in KL city centre, Penang’s heritage and waterfront properties as well as luxury properties in Johor, which is next to Singapore. (The Edge Markets)
Magna Prima open to jointly developing Lai Meng school plot
Property developer Magna Prima Bhd is open to all kinds of possibilities in terms of monetising its 1.06ha land along Jalan Ampang in Kuala Lumpur, where the Lai Meng primary school was formerly situated. Other than an outright sale, Magna Prima is also considering jointly developing the plot with other developers. Magna Prima has put the land up for sale since 2015, with a targeted price of RM3,500 per sq ft. (The Edge Markets)
UEM Sunrise to launch Dahlia terraced houses in Serene Heights, Bangi
Property developer UEM Sunrise is set to launch the fourth residential phase at Serene Heights, Bangi in Selangor, within 2Q2017. The new phase, Dahlia, comprises 170 units of 2-storey terraced homes on 14.1 acres of freehold land, with GDV of about RM108 million. Serene Heights is a well-planed integrated township development which spans 448 acres. Its main feature is Cascadia – a 1.2km linked pond surrounded by a 3.5km jogging and bicycle track, with eight themed gardens surrounding it. The target market for this project will be young executives, extended families and newly-weds. The project is set to be completed by 2Q2020. (The Edge Markets)
Artist’s impression of Serene Heights township in Bangi (Image from Serene Heights)
Astaka Padu launches 363-acre township in Pengerang
Astaka Padu Sdn Bhd has launched a 363-acre mixed-use leasehold development in Pengerang, Johor called Bukit Pelali with an estimated GDV of RM2 billion. Said to be the closest sizeable township to Pengerang Integrated Petroleum Complex (PIPC), Bukit Pelali is a joint venture between Astaka Padu and Saling Syabas Sdn Bhd. Bukit Pelali is planned to be the first stratified township in the area, offering 2,324 residential units and 1,568 units of Johor community housing in a gated and guarded landscaped environment. Its master plan includes a school, hotel, shopping mall, hospital, offices and a clubhouse with a swimming pool. (The Edge Markets)
Penang’s first affordable housing project ready next year
Buyers in Penang’s largest affordable housing project in Batu Kawan on the mainland near the second bridge can move in by mid-2018. The 11,8000 units in Bandar Cassia are expected to be completed by the end of this year, and successful buyers will receive their keys by the middle of next year. The Bandar Cassia project is one of two affordable housing projects announced by the Penang government in 2011. It comprises nine-storey and 20-storey blocks built on 80ha of land. The other is in Jalan SP Chelliah, George Town, where construction is still in progress. (Free Malaysia Today)
Malaysia could have nuclear power plant by 2030
Malaysia could have its own nuclear power plant by 2030 to address the high power consumption in the peninsula, the Malaysia Nuclear Power Corporation (MNPC) said. The peninsula currently generates power from coal (52%), gas (45%) and hydro (3%). The proposed nuclear power would only be used in Peninsular Malaysia because the demand is much higher at around 18,000 megawatt, compared to Sarawak’s 2,000 megawatt. MNPC will work with the International Atomic Energy Agency (IAEA) to evaluate setting up a plant, with evaluation still in the first phase. (Malay Mail Online)
Inta Bina eyes affordable housing segment
Inta Bina Group Bhd plans to establish a footprint in the affordable housing segment after its listing. The building contractor expects to tender for affordable housing projects in the Klang Valley from private housing developers under the federal and state affordable housing scheme. Its strategy to constructing affordable housing projects efficiently is through the usage of aluminium system formwork, as it suitable for mass construction of buildings with repetitive design. (New Straits Times Online)
