ECRL, SSER projects ordered to cease work
The East Coast Rail Link (ECRL) project and two projects under the finance ministry (MoF) unit Suria Strategic Energy Resources Sdn Bhd (SSER), namely the Multi-Product Pipeline (MPP) and the Trans-Sabah Gas Pipeline (TSGP) projects, have been instructed to suspend all works with immediate effect. ECRL’s project owner Malaysia Rail Link Sdn Bhd (MRL) had instructed its main contractor China Communications Construction Co Ltd (CCCC) to suspend all works under the engineering, procurement, construction and commissioning contract (EPCC) in respect of the ECRL project, among others, on grounds of national interest. Meanwhile, sources said work on the MPP and TSGP projects have also been suspended, as SSER had failed to secure the necessary rights and land to lay pipes for the two projects. (The Edge Markets)
IJM Land to launch projects with RM1.5bil GDV
IJM Land Bhd is expected to launch new property projects with a GDV of about RM1.5 billion in the financial year ending March 31, 2019. Managing Director Edward Chong said a majority of the new launches comprise residential properties in Malaysia. He said IJM Land currently has RM1 billion worth of unsold residential properties, and over 4,000 acres with GDV of about RM30 billion in Malaysia. The developer is in the midst of planning for the launch of SWANS – a double-storey link house project, targeting to be launched in the fourth quarter of this year – in its Bandar Rimbayu integrated township. (NST Online)
Local universities to explore urbanisation under Malaysia 100YC program
The newly launched Malaysia 100YC (Year Cities) programme will encourage local universities to reimagine Malaysian future cities and share their ideas, solutions and concepts to address the challenges of future urban living. The Malaysia 100YC program also includes attracting ideas, best practices and case studies from professional bodies and industry leaders in the areas of technology, architecture and town planning. Six topics have been identified under the Malaysia 100YC programme as key focus areas covering innovative technologies, green open spaces, urban mobility, affordable living, community governance and smart infrastructure. The Malaysia 100YC programme will run till February 2019 with workshops and special studio sessions taking place throughout before culminating in an exhibition. (NST Online)
KL Internet City looking for an alternative site
A less frequently talked about component of the Digital Free Trade Zone is KL Internet City (KLIC), a RM5 billion development meant to be a digital hub for global technology companies in Bandar Malaysia. However, due to uncertainties over the new government’s plans for Bandar Malaysia, KLIC’s master developer, Catcha Group Pte Ltd, has been looking for an alternative site. Discussions are underway with a third party to build a smaller, interim KLIC on land owned by them. According to KLIC’s website, Catcha aims to secure 1,000 internet-related companies and 25,000 tech professionals to take up its five million sq ft of space. The development is expected to be completed in 15 years. (The Edge Markets)
JMR Conglomeration expands landbank in Penang via share subscription
JMR Conglomeration Bhd has expanded its landbank in Seberang Perai Tengah, Penang through subscription of new shares in its subsidiary TAG Steel Holdings Sdn Bhd (TSH). TSH currently owns a 26,657 sq m piece of freehold land in Seberang Perai Tengah, Penang, near the Autocity, Juru, which is expected to be developed into a mixed development project. The subscription is in line with its strategy to acquire and expand its existing landbank in strategic locations with high development value, in order to sustain its business as a property developer. It will also provide a platform to strengthen the group’s property development activities within the Seberang Perai Tengah and nearby areas where the group has existing land banks. (The Edge Markets)
