Tuesday, April 2, 2013

Prime Minister Najib Razak dissolves Parliament for landmark polls


KUALA LUMPUR – Malaysian Prime Minister Najib Razak dissolved parliament Wednesday in preparation for general elections seen as the toughest challenge yet for the ruling coalition after 56 years in power.
“This morning I met the king and asked for his consent to dissolve the parliament,” he said. “This dissolution will pave the way for the 13th general election.”

The election commission will meet shortly to decide on a date for the poll, which is likely to take place within the next few weeks.




Tuesday, February 12, 2013

REHDA Positive on Johor's Property Outlook

Property developers remain optimistic on the future of Johor’s property market, especially in Iskandar Malaysia, reported The Star. The ‘feel good’ factor in 2012 is expected to continue this year, according to Koh Moo Hing, Branch Chairman of Real Estate and Housing Developers Association (REHDA Johor). Many members of REHDA Johor reported good take-up for most of their property launches in 2012 and they are bullish that the momentum will be maintained this year, he said. “Iskandar has been progressing well in the last six years, bringing great changes to the landscape of the property market in South Johor.” Notably, the Malaysian Property Exposition (Mapex) held last November generated RM672.14 million sales compared to RM612.63 million for the previous Mapex held in May 2012. Notably, this reflects transactions within a 30-day period. At the same time, the number of properties transacted rose to 1,449 units in November from 1,269 units in May. Moreover, Mapex sales volume had steadily increased since 2009 — Mapex April 2009 recorded RM120.52 million sales, which rose to RM142.02 million in April 2010, RM384.24 million in May 2011 and RM612.53 million in May 2012. In addition, “Iskandar has helped push up house prices between 10 percent and 20 percent from 2009 until 2012 in South Johor; hence the better sales registered,” noted Koh. But with large tracts of land still available for future residential development, prices in Iskandar remain lower than those in Penang and Klang Valley, he added.

Iskandar Woos Investors from Surabaya, Indonesia

A delegation from the Iskandar Regional Development Authority (IRDA) is headed to the business community of Surabaya, Indonesia between 31 January and 1 February to promote Iskandar’s investment potential. This follows IRDA’s active promotion of the economic region to Indonesia’s business communities in Jakarta, Bali and Makassar. Notably, IRDA Chief Executive Datuk Ismail Ibrahim and Johor Chief Minister Datuk Abdul Ghani Othman will head the delegation. The mission aims to brief Indonesian investors on areas of Iskandar where they can invest, said Syahril Syazli Ghazali, Economic Advisor at the Malaysian Embassy in Jakarta. “Among the areas with potential to attract investments from Indonesia are the creative industries, hospitality, theme parks, logistics as well as financial and health services.” The delegation will also meet up with individuals from the local business community including members of trade councils and business chambers, he said, adding that Iskandar can easily attract investments from Indonesia if IRDA can offer special incentive packages for the investors. At present, many Indonesian tourists are visiting Iskandar Malaysia, especially after the opening of the LEGOLAND, Johor Premium Outlets and the Puteri Harbour Family Theme Park. Specifically, tourist arrivals from the country rose to 2.3 million in 2012 compared to 2.1 million during the previous year.

Pine Wood Studios Eyes RM$3.8B projects by 2020

Johor’s Pinewood Iskandar Malaysia Studios (PIMS) is poised to rake in a whopping RM3.8 billion worth of investments by 2020, according to Michael Lake, Chief Executive Officer of the PIMS. “About RM1.9 billion will be spent in the local economy, including for local wages,” he said. Set to be completed in May, the 20ha development will be a world-class, state-of-the-art film and television studio production facility — one of the largest in the region. “To support the first phase of PIMS' development, a total of 1,500 talents are required by the end of this year,” said Lake. Along this line, Iskandar Region Development Authority (IRDA) chief executive Datuk Ismail Ibrahim has launched the Iskandar Malaysia Creative Industry Talent Development programme. “The first seven Train the Trainers' course under the development programme will start in March and are designed as intensive eight- to 12-week courses to provide skills and knowledge needed by Malaysian film industry professionals, trainers and workers to seamlessly integrate with large-scale international film production companies,” noted Ismail. This scheme hopes to attract 1,300 people by end-2013. Courses to be handled by industry experts will include production accounting, grip and electrical department, set construction and wardrobe management.

Tuesday, January 29, 2013

HK Developer Spreads Wings to Johor

Hong Kong developer New World Development Co Ltd has made its maiden venture into Johor Baru, through Taipan Eagle Sdn Bhd, its joint venture company with Malaysian firm Luen Yum Development (M) Sdn Bhd. At present, Taipan Eagle is undertaking a gated/guarded project dubbed the New World Garden, which comprises 96 luxury houses on a 4.85ha site along Jalan Masai Baru at Mukim Plentong, reported The Star. Specifically, the project consists four three-storey bungalows priced from RM4 million and 92 three-storey semi-detached villas with a starting price of RM2.4 million. The project also features a 40,000 sq ft club house with a gymnasium, function rooms, barbecue pits and swimming pools. “We decided to come to Johor Bahru in view of the positive development taking place in Iskandar Malaysia and the good growth prospects,” said Michael Tham, Director of Luen Yuen, adding that the project is expected to be completed in Q2 2014 and will have a gross development value of RM240 million. “We are banking on the project’s strategic location and its easy accessibility from other parts of Johor Bahru to attract buyers.” Notably, the project is only a short drive from Danga Bay, Johor Bahru’s city centre, Senai Airport and the commercial centre in Taman Molek, as well as Singapore via the Causeway. Moving forward, Taipan Eagle also plans to develop bigger projects like townships in the Klang Valley and Johor Bahru, noted Tham.

UK University's Iskandar cCmpus Eyes More Students

The University of Southampton has successfully opened its first-ever international campus in Educity, Iskandar Malaysia in October last year. “Our ambition is to have a similar status within Malaysia as being a premier university for engineering education and engineering research,” said Prof John McBride, Chief Executive Officer of USMC. Aside from being listed among the world’s top 100 universities, University of Southampton is also regarded as one of the top two universities for engineering research and education in the UK. The University of Southampton Malaysia Campus (USMC) eyes “to attract about 3,000 local and international students once our main campus is complete in the next eight years,” said McBride. Since it opened in October 2012, the campus saw “22 students currently pursuing the Masters of Mechanical Engineering programme and we hope to increase the number to 150 by introducing the Electronic and Electrical Engineering (EEE) programme in September.” Students would have to stay for two years in USMC before they can complete their studies at the UK main campus for another two years. McBride said graduates of the university were most sought-after by multi-national firms such as Google, Apple, Rolls Royce and Airbus.

MEDINI Johor Bahru, Best Investment of All Time!!!

The Medini Iskandar Malaysia project in Johor is raking in significant amount of interest from investors keen to partake in the mega development. For one, Global Capital and Development Sdn Bhd (GCD) eyes to partake in the initial phase of Medini's Media Village. The target investment will yield a built-up development value of RM1.5 billion in the next three to five years, said Keith Martin, Chief Executive Officer of GCD. Martin expects more investors to buy segments within the Medini’s 658ha development zones: Medini Business, Medini Living and Medini Lifestyle, reported the Business Times. Of these, the 142ha Medini Business zone will witness the development of mixed commercial buildings, business parks and the Media@Medini media village — which will be built to support Pinewood Iskandar Malaysia Studios and the Asian TV and film industry in general. “There is a clear demand driver from small and medium enterprises (SMEs), particularly from Singapore, to seek more affordable space in Medini with close proximity to Singapore,” noted Martin. As of now, GCD holds generous amount of committed investment in Medini, including a RM500 million landmark deal with Pantai Group and a RM745 million venture with Sunway Bhd. Platinum Meadow Sdn Bhd also signed for a RM688 million commercial venture in the Medini Business zone. “Together, they represent a total development value in the region of RM1.2 billion and we are confident of the continued investor interest in Medini.” The booming development in Medini as well as the whole Iskandar region is expected to spice up economic growth to make Malaysia a high-income nation moving forward. “As more investments look to pour in, we will certainly continue adding a boost to Malaysia's economy and contributing to its healthy gross domestic product figures,” added Martin.