e-Lelong online property auction platform to be launched on July 27
Malaysia’s online property auction platform e-Lelong for court auctions of immovable properties will be officially launched on July 27. The launch of the e-Lelong pilot project will be held at Kompleks Mahkamah Kuantan, Pahang where the e-Lelong Operations Centre is stationed. The e-Lelong portal has been live since June 1, 2017. It has received 27 foreclosure cases to be auctioned online, and the pilot project is to test the system and make sure everything runs smoothly before expanding to other states in Malaysia. (The Edge Markets)

Sunway acquires freehold land in Jalan Belfield for RM165mil
Sunway Bhd has acquired a parcel of freehold land measuring 1.83ha in Jalan Belfield, Kuala Lumpur for RM165mil. The proposed development of the land will comprise mainly serviced apartments with some lifestyle retail units. The mixed development will have an estimated GDV of RM1.1bil, comprising RM1.05bil worth of serviced apartments and RM50mil of retail units. The development is over a five-year development period and is estimated to be launched by the second half of 2018. (The Star Online)

Putrajaya’s multi-million-ringgit Islamic hub up and running
Prime Minister Datuk Seri Najib Razak has launched the Putrajaya Islamic Complex, which he hoped will be the hallmark of a progressive Islamic administration in Malaysia. He claimed the new complex would bring forward a new era of Islamic administration in the country, after the religion has been subjected to negative connotations in recent times. The initial cost of the project when it was first launched in 2011 was estimated at around RM400 million, but the final cost upon completion last year has not been made public. Located at the Precinct 3 lakeside beside the Sultan Al-Mizan mosque, the complex houses over 11 Islamic government agencies and several other private Islamic groups since earlier this year. (Malay Mail Online)

Prime Minister Datuk Seri Najib Tun Razak during the opening ceremony of the Putrajaya Islamic Complex in Putrajaya, July 18, 2017. —Yusof Mat Isa/MMO

Matang to buy two plots of land in Raub for RM180mil
Matang Bhd plans to acquire two contiguous parcels of leasehold agricultural land in Raub, Pahang, measuring a total of 4,219.79 acres for RM180 million from Raub Mining & Development Company Sdn Bhd (RMDC) and Raub Oil Mill Sdn Bhd (ROM). The proposed purchase will include the oil palm plantation, buildings, plant, machinery, equipment, and a palm oil mill on the lands, as well as vehicles and stocks of the aforesaid plantation and mill. (The Edge Markets)

Minister: Malaysia on track to reach development goals by 2030
Malaysia is on track to realising its Sustainable Development Goals (SDG) ahead of 2030, thanks to several policies implemented by the Government, says Datuk Seri Abdul Rahman Dahlan. Malaysia has taken five crucial steps to execute these goals to improve the livelihood of the people, which include establishing a multi-stakeholder and participatory governance structure, organised SDG symposiums and forums to promote participation of stakeholders, conducted studies on data readiness and gap analysis, undertaken a mapping exercise involving non non-governmental, civil society organisations and the private sector, and formulated a National SDG Roadmap to guide the implementation of Agenda 2030 and the SDGs. (The Star Online)

OCR secures RM324mil PPA1M project in Putrajaya
O&C Resources Bhd (OCR) has won a RM324mil contract from Damansara Realty Bhd (DRealty) to undertake a civil servants housing project (PPA1M) on 11.89 acres of land in Putrajaya. The duration of the project is expected to be over four years, and will consist of two parts, which is the PPA1M portion and non-PPA1M or commercial portion. (The Star Online)

CapitaLand REIT hit by lower income from Klang Valley malls
Retail-based CapitaLand REIT recorded a net property income of RM59.8mil for the second quarter ended June 30, slightly down from RM60mil a year earlier. It said in a statement that this was due to lower contribution from all of its three Klang Valley shopping malls – The Mines, Sungei Wang Plaza, and Tropicana City Property – which was offset by stronger performance from Gurney Plaza and East Coast Mall. The lower revenue was attributed to negative rental reversions from Sungei Wang Plaza as it continued to be temporarily affected by the ongoing MRT works and the closure of BB Plaza. The Mines was impacted by lower rental rates and occupancy while Tropicana City Property’s lower gross revenue was mainly due to lower occupancy at the office tower. (The Star Online)

Malaysian developer Aspen Group launches IPO on Singapore’s Catalist
Malaysia’s Aspen (Group) Holdings, a developer of affordable homes and mixed developments, has launched its initial public offering (IPO) on the Catalist board in Singapore. The IPO is set to raise net proceeds of $36.72 million, which Aspen plans to use to acquire development land repay bank borrowings and for working capital. The firm, which develops projects in Penang, said it chose Singapore as it wants to be a regional player. The company has a partnership with Ikano, the parent company of furniture giant Ikea, and are co-developing Aspen Vision City, a 245-acre freehold development in Batu Kawan, Penang, which will include homes, a park, a shopping centre and the first Ikea store in northern Peninsula Malaysia. The development will be completed in phases over the next 10 years. (The Straits Times)

Artist’s rendition of Aspen’s upcoming joint venture development with Ikano, Aspen Vision City. –Photo from ASPEN (GROUP) HOLDINGS