‘MyHome’ Bukit Jalil to be ready by 2018
Successful applicants for the MyHome (Private Affordable Ownership Housing Scheme) project in Bukit Jalil were elated to hear that it would be completed in 2018. A total of 508 lucky home-buyers had their applications approved by the Urban Wellbeing, Housing and Local Government Ministry following the launch and balloting for the MyHome 2 Impiana Sky Residensi Bukit Jalil. The scheme offers an incentive of RM30,000 as down-payment and house buyers only need to pay RM270,000 through a bank loan. (Malaysian Digest; Bernama)
China, Japan vie for lead role in HSR project
Malaysia and Singapore have yet to finalise major elements of the multi-billion-dollar high speed rail project linking Kuala Lumpur and Singapore, but it has not deterred the governments of China and Japan from vying for the tender. In recent weeks, Japanese and Chinese government officials, together with their private-sector executives from the rail industry, have been lobbying the Malaysian government and key agencies overseeing the transport sector to push their respective agendas for the construction of the 350km link. It seems that China has a slight advantage, thanks to a personal letter by Chinese Premier Li Keqiang to Prime Minister Najib Razak reiterating Beijing’s property and infrastructure development investments in Malaysia, as well as stressing China’s interest in securing the HSR project. Meanwhile, representatives from the East Japan Railway Company (JR East) met with Malaysian Transport Ministry officials last month to press their case for a lead role in the project. (The Straits Times)
Japanese convenience chain store Family Mart to enter Malaysia
Japan’s FamilyMart will enter Malaysia through a licensing agreement with local food processor QL Resources. The convenience store chain aims to open its first Malaysian location in Kuala Lumpur by the end of the year, with plans to launch 300 stores in the country over five years. FamilyMart plans to make the maximum allowable investment in the QL subsidiary operating the chain, giving the Japanese company a direct hand in management. It plans to create eat-in areas at stores to compete with popular fast-food chains, and is looking to offer about 2,000 different products. (Nikkei Asian Review)
Penang urges PR1MA to drop price of affordable housing to RM300,000
The Penang state government is urging PR1MA Corporation Malaysia to lower its ceiling price for affordable housing to RM300,000 in order to match the state’s reduced threshold. The state has already agreed with Putrajaya to reduce the ceiling price of affordable housing developments in the state to be fixed at RM300,000 from the current RM400,000. Thus, as a federal agency, PR1MA should also reduce its ceiling price for affordable housing. It is confirmed that PR1MA had only applied for planning permission for 5,031 affordable housing units in the state, namely at Batu Ferringhi, Tasek Gelugor and Bukit Gelugor, although none of the applications have been approved yet as two have only recently been submitted. (The Malay Mail Online)
Photo from Bernama
RM75mil Teluk Intan flood mitigation project launched
The RM75 million Teluk Intan Flood Mitigation (RTB) project, which is a long-term plan meant to withstand until 2100, was launched by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi on Sunday. The project handled by the Drainage and Irrigation Department (DID), a sequel of the 10th Malaysia Plan includes the construction of a 2.2 km long stone embankment, divided into two zones which was started in December last year and is expected to be completed by 2018 end, to overcome erosion and flooding. The ground level in Teluk Intan which is between 1.6 and 2.5 metres is substancially lower than the 2.75 metres high tide, causing constant floods, erosion of river banks and its collapse which poses a threat to people. (Bernama)
Malaysia targets RM40bil investments this year
Malaysia is targeting to attract RM40 billion worth of investments from the manufacturing and services sectors this year. Malaysian Investment Development Authority (Mida) chief executive officer Datuk Azman Mahmud said about RM800mil would be for the medical device segment, with RM651 million investments approved for the first quarter. The RM40bil investments would come mainly from the United States and Europe, and negotiations are underway for these investments. (The Star Online)
LBS Bina makes takeover offer for ML Global
Property company LBS Bina Group Bhd has made an unconditional mandatory takeover offer for ML Global Bhd after it raised its stake to 50.9%. ML Global is involved in construction and production of roof tiles. LBS Bina emerged as a substantial shareholder of ML Global following its participation in the latter’s fund raising exercise to regularise its PN17 condition. LBS Bina is keen for the acquisition to go through, as ML Global’s businesses are complementaty to LBS Bina’s property development and construction businesses, as well as to drive future strategic direction and business expansion. (The Star Online)
