Malaysia-Singapore to sign RTS link agreement in December
Malaysia and Singapore is set to sign a bilateral agreement on the development of the Johor Bahru-Singapore Rapid Transit System (RTS) Link this December. “Among the technical issues that have been decided by both countries is the RTS concession payment split of 39% for Malaysia and 61% for Singapore for 50 years,” said Datuk Seri Abdul Rahman Dahlan. (Astro Awani)

WMG Holdings to launch RM1.3bil of property projects in Sabah
Sabah-based property developer WMG Holdings Bhd, which was listed on the Main Market of Bursa Malaysia on Monday, plans to launch more than RM1.3bil worth of projects in the state. The company has a total undeveloped land bank of 620 acres, of which 442 acres are in Sandakan while the remaining 178 acres are in Kota Kinabalu. WMG is set to expand its land bank and launch more development projects in Sabah, and predicts that projects under the Sabah Development Corridor Blueprint and tourism industry would also underpin the state’s economic growth and boost demand for properties. (The Star Online)

Bursa poised for year-end rally
Bursa Malaysia is set to end the year on a high note, driven mainly by strong exports, a turnaround in banking and property-related counters as well as prospects of further investments from China. Against a benign economic backdrop of moderate growth, gradual interest rate hikes and mild inflation, Asian markets are poised to stage one of their best rallies this year. For the first time in five years, Asian markets are seeing earnings revised upwards between 15% and 20% this year. Spearheaded by a more outward-looking China, this Asian growth-led renaissance is expected to positively spill over to other markets in the region, including Malaysia. (NST Online)

Sime Darby unveils senior leadership for its three pure plays
Sime Darby Bhd has announced a new chairman and senior leadership for its three pure plays as well as a leaner and more focused direction for Sime Darby itself. Tan Sri Dr Wan Abdul Aziz Wan Abdullah, who is currently the deputy chairman of Sime Darby, has been named the new chairman of Sime Darby, with Jeffri Salim Davidson as the president and group chief executive. The two will be supported by Datuk Lawrence Lee Cheow Hock as managing director of Sime Darby Motors, Scott William Cameron as managing director of Sime Darby Industrial and Timothy Lee Chi Tim as managing director of Sime Darby Logistics. (The Sun Daily)

Jeffri Salim Davidson (top, mid) will lead Sime Darby as president and group chief executive –NST

Developers told to build more affordable housing in Melaka
Developers in Melaka have been urged to not only focus on building highly profitable luxury homes, but also affordable ones to meet the needs of the people. State Health, Sports and Anti-Drugs executive committee deputy chairman Datuk Ng Choon Koon said a healthy mix of affordable housing and luxury developments will encourage the growth of balanced communities in Melaka. (NST Online)

Fajarbaru sees 70% take-up of Rica Residence Sentul before launch
Fajarbaru Properties Sdn Bhd’s new serviced apartment project in Sentul, Kuala Lumpur has already seen a 70% take-up since it opened for sale in December last year. The project known as Rica Residence Sentul will be officially launched on Aug 3. Located in Jalan Kovil Hilir, the 39-storey project with a GDV of RM270 million has 473 units ranging from 650 sq ft to 1,200 sq ft. It is also within walking distance to the KTM Sentul station and Sentul West station of the future MRT Line 2. The project is the first of the Rica Residence series of projects with another two in the pipeline, including Rica Residence in Kinrara, Puchong and Rica Residence in Melaka. (The Edge Markets)

AG: Iskandar Malaysia’s affordable housing rental lost RM3.5mil
Rumah Iskandar Malaysia (RIM), a rental-based housing scheme in Iskandar Malaysia did not achieve its targets on rental for houses and commercial units with an estimated loss of rental income at RM3.52 million, according to the latest Auditor General’s report. Prisma Harta Sdn Bhd (PHSB) main activities are managing the rental of 1,500 RIM houses at an affordable rate to the qualified low and middle income groups as well as the rental of 13 commercial units. Although PHSB had properly managed the rental of RIM houses and commercial units, the audit report found that it did not achieve the intended targets. (Malay Mail Online)

First Proton with Geely tech to roll out by 2019
A new manufacturing plant in Tanjung Malim will be ready in five years’ time, but the first Proton car made with Geely’s technology will roll out by the end of next year, or by early 2019. It will be made at its existing plant in the country. Proton has to complete the the new manufacturing plant within five years, but the new Proton car, made using Geely’s technology, will be ready much earlier than that. (The Star Online)

Greenpeace Malaysia launches first office in KL
Non-governmental environmental organisation Greenpeace launched its first office in Malaysia last Friday, establishing a physical presence in the country. It is the NGO’s fourth office in South-East Asia after Philippines, Thailand, and Indonesia. The office in Jalan Tun Sambathan, Brickfields will serve as a base for 10 Greenpeace Malaysia employees. The Malaysian office is said to be an important milestone in championing serious environmental issues in the region namely climate change, deforestation, energy issues and systemic problems like consumerism and corruption. (The Star Online)