Axis Reit buys industrial property for RM37mil

Axis REIT has entered into a sale and purchase agreement to buy a RM37 million industrial property from Lion Steelworks Sdn Bhd. The property is located within the Bukit Raja industrial area. The property comprises a leasehold industrial land, measuring 22,528 square metres, with two blocks of detached factory and a double-storey office building annexed plus other ancillary structures. As of December 24, the property is fully occupied where the factory is being used by Lion Steelworks to manufacture and distribute office equipment, security equipment and steel related products. Upon the completion of the acquisition, the property will be leased by Lion Steelworks for a fixed tenancy period of two years and five months, with option to renew. (NST Online)

Transport Ministry takes unpopular measures to ensure public safety and well-being

Improving public transport services, preparing a more integrated public transport system and giving emphasis on road safety have always been the Ministry of Transport’s (MOT) top priorities in its plans and strategies to ensure safety and well-being of the people. Although improvement and reform efforts introduced are sometimes seen as unpopular measures, the ministry is determined to move forward to empowering the aspects of transport safety and services. Citing an example of the usage of child car seats or child restraint system (CRS) in private vehicles, which would be made mandatory from January 2020, Minister Anthony Loke said the government stood firm in its decision. Moving forward, Loke said the MOT also hoped to continue to be able to provide and enhance people’s mobility, from land to air, in line with the National Transport Policy 2019-2030. (Malay Mail)

LKIM allocates RM60m for housing for fishermen in three states next year

The Malaysian Fisheries Development Board (LKIM) has allocated RM60 million to build houses for fishermen in three states next year through the Fishermen Resettlement Project (PSN). LKIM chairman Muhammad Faiz Fadzil said RM20 million each has been allocated for the project in Labuan, Sabah and Terengganu, benefiting 920 recipients. The project will build cheap houses costing RM54,000 for 120 fishermen in Labuan, 300 in Sabah and 500 in Terengganu. (Malay Mail)

Matrix Concepts expands to Indonesia

Property developer Matrix Concepts Holdings Bhd is making its maiden foray into Indonesia. Its mixed-use development, Menara Syariah Twin Towers, in Pantai Indah Kapuk 2 (PIK 2), Jakarta, was launched on Dec 8. The project will be developed by PT Fin Centerindo Satu, a joint-venture company between Matrix Concepts and three other Indonesian entities. The JV company owns a 3.6ha parcel in the 12ha Islamic Financial District, which is within the 23.5ha International Financial District in PIK 2. Menara Syariah Twin Towers, which will have a gross development value of US$250 million, will take up 1.4ha. The two 29-storey office towers will have limited retail space. It is scheduled to be completed by end-2021. (The Edge)

Adenland making affordable housing a reality

Despite the challenges faced by the property market, Adenland Holdings Sdn Bhd appears positive on the development of affordable homes by offering value-for-money products to buyers. The group’s forte is building affordable properties with facilities and amenities. “Our group has grown from building houses to developing townships and commercial hubs. We have also appointed advisers to work on the proposed listing of the company on Bursa next year as we are at the correct stage of the life cycle to be listed,” said group CEO Nicholas Chang. Adenland was established in 2012 and in just five years, the group has kicked off a township development in Kuantan, Pahang, a mixed-use development in Rawang, Selangor, and two condominium projects in Damansara Jaya, Selangor, and Cheras, Kuala Lumpur. (The Edge)