MBSB: High-end property in ‘a bit of a glut’
Malaysia Building Society Bhd (MBSB) is of the opinion the Malaysian property segment is in “a bit of a glut” — but only in the high-end property segment, echoing sentiment shared by Bank Negara Malaysia (BNM). The institution’s loan portfolio is largely property-related, but caters more for medium-priced to affordable houses. MBSB’s property loan approval rates stands at about 55%. The property market has been in the limelight recently, amid mixed market sentiment and environmental analysis. (The Edge Markets)

FIABCI Malaysia honours 14 top property players at Malaysia Property Award
The International Real Estate Federation (FIABCI) Malaysian Chapter celebrated the 25th anniversary of the Malaysia Property Awards with 14 winners in Kuala Lumpur recently. Among the winners were SP Setia, Eco World, Hap Seng Land, Gamuda Bhd, Mitraland Group, Sunway, IJM Land, and Paramount Corp. Other winners included Exsim Development Sdn Bhd director Lim Aik Hoe who won the ‘Property Man Award’; and Cahaya Jauhar Sdn Bhd chief executive officer (CEO) Mohd Auzir Mohd Tahir, who won the ‘Property CEO Award’. (The Borneo Post)

MRCB, Gamuda teaming up to bid for KL-SG HSR PDP
Malaysian Resources Corp Bhd (MRCB) and Gamuda Bhd have entered into an agreement to set up an unincorporated consortium to participate in the tender to be the project delivery partner (PDP) for the Kuala Lumpur-Singapore High Speed Rail (HSR), with each owning a 50% stake in the consortium. Upon securing the tender, MRCB and Gamuda will enter into a definitive agreement to further set out the rights and obligations of each party in relation to the project. The PDP will be tasked with infrastructure works, budget, and timing for the project, as well as assist with interface management, land acquisition processes and stakeholder engagement activities. (NST Online)

Malaysia named region’s top emerging economy by WEF
The World Economic Forum (WEF) has named Malaysia as the region’s top emerging economy in its Global Competitiveness Report 2017-2018. The report listed Malaysia as 23rd out of 137 countries in Global Competitiveness Index, improving the nation’s ranking from 25th last year, ahead of countries such as China, which was ranked 27th. Malaysia also took second spot among nine ASEAN countries. The report, published annually since 1979, measures national competitiveness, which is defined as ‘the set of institutions, policies and factors that determine the level of productivity’. (NST Online)

Johari to meet PM over property freeze
A week after highlighting the government will not make a U-turn on its blanket ban on luxury property developments with units above RM1 million, Second Finance Minister Datuk Seri Johari Abdul Ghani says he will ask the prime minister to allow such projects in major cities. Johari said he would discuss with Prime Minister Datuk Seri Najib Razak allowing, on a case-by-case basis, such projects in areas such as Kuala Lumpur, Penang and Johor. Property developers have appealed to the government, arguing that costs of land in these major cities are too high. He also explained the freeze is aimed at weeding out property developers “looking to make a quick buck”. (The Edge Markets)

Compugates in JV for RM775mil Dengkil mixed development
Compugates Holdings Bhd’s wholly-owned unit Compugates Development and Mining Sdn Bhd (CDMSB) will jointly develop a 25.09ha agriculture land in Dengkil, Selangor with Jade Classic Sdn Bhd. The proposed project is a mixed development comprising 500 houses, 1,100 Rumah Selangorku homes and four blocks of 600 units of high rise mixed residential and commercial units. It has an estimated GDV of RM775 million. The group targets to launch the project in 2020, while the development is expected to take at least 10 years to complete. (The Edge Markets)

MB World acquires land in Johor for RM8.15mil
MB World Group Bhd is acquiring 15.56 acres of land comprising 252 parcels of residential terrace plots in Taman Sri Pulai Perdana, Johor Baru for RM8.15 million. The parcels have been earmarked for a mixed development under the state’s affordable homes policy and the landowner has the legal obligation to build and complete the construction in accordance with the state’s requirements. The land is approved for 252 units of double-storey courtyard type of terrace units. (The Sun Daily)

Singapore-listed OUE to sell prized KL land
Singapore-listed OUE Lippo Healthcare Ltd, formerly known as International Healthway Corp Ltd (IHC), is shelving plans to develop a prime parcel of land located in the vicinity of Petronas Twin Towers and Jalan Bukit Bintang in Kuala Lumpur and putting it up for sale, sources say. Based on recent land transactions, the vendor may be able to get as much as RM200mil for the 1.17-acre parcel in Jalan Kia Peng. It had earlier planned to develop an upmarket medical hub with serviced residences on the plot. It is unclear why the group decided to sell the land. (The Edge Markets)

MIEA: Property market stable, moving at moderate pace
The current property market is stable and moving at a moderate pace, with the outlook for next year expected to remain the same, said MIEA. Its president Eric Lim said this was concluded from the feedback and survey conducted among MIEA members and practitioners. “The outlook for next year is generally quite stable. Maybe moving at a moderate pace. It depends on the location, the type, supply and demand,” he said. Property buyers were more savvy and prudent in managing their finances and investments, and more careful in their decision-making. The purchasing interest level in the market is still high, but is often dampened by the common frustration on loan issues. (Free Malaysia Today)

Higher earnings for Sunway in Q3 FY17
Sunway Bhd’s earnings rose 5% to RM150.85mil in 3QFY17 from a year ago, aided by stronger revenue growth, though property development was sluggish. Revenue increased by 16% to RM1.32bil from RM1.13bil a year ago due to higher contribution from most business segments, particularly the property investment, construction and trading and manufacturing segments. The higher revenue was mainly contributed by additional revenue from the new Sunway Velocity Mall and higher revenue from Sunway Pyramid Hotel. (The Star Online)

Scenic Rawang-Serendah bypass opens today
The Rawang Bypass, which features a 2.7km elevated bridge “that parts the skies” at 58.2m above ground, opens from 6am today. The picturesque section is part of the 9km highway connecting Rawang and Serendah. The bypass is an engineering feat using the Movable Scaffolding System (MSS) to preserve the ecosystem by preventing the use of excessive heavy machinery and felling of trees. Besides providing a beautiful panoramic view of the surrounding landscape, the design of the bridge was also meant to protect the rare Merawan Kanching or Giam Kanching tree species at the park. (Malay Mail Online)

The elevated bridge on the Rawang Bypass ‘that parts the skies’. (Photo from Taiko TV)