Phase 2 of Johor Premium Outlets in the works

Genting Plantations Bhd is looking at developing phase two of Johor Premium Outlet (JPO), following the launch of its first phase in December 2011.

The company is also planning several hotels and a theme park to further increase the land value at the Kulai Besar Estate or the Indahpura development, said OSK Research.

"The last offer price the company received for land in the area was RM50 psf, while the last transacted price was RM25 psf," noted research firm.

Sited on 45 acres of land, Johor Premium Outlets features 80 outlet stores selling designer and branded items and is owned by Genting Simon Sdn Bhd, a fully-owned unit of Simon Genting Ltd.

Moreover, Simon Genting Ltd is a 50:50 joint venture (JV) between Premium Outlets - a division of Simon Property Group - and Azzon Ltd, a fully-owned unit of Genting Plantations.

UEM Land makes Forbes' 'Asia's 200 Best Under A Billion'

Malaysian developer UEM Land Holdings (UEM Land) was ranked among the list of companies in ‘Asia's 200 Best Under a Billion' by Forbes.

Home-grown UEM Land is an investment holding conglomerate, whose principal activities include project procurement and management, real estate investment, construction, land trading, turnkey development and property development.

According to the ‘Asia's 200 Best Under a Billion' list, UEM Land has achieved sales of US$537 million (RM1.67 billion), net income of US$95 million (RM296 million) and its market value is at US$2.802 billion (RM8.7 billion).

UEM Land's projects include Symphony Hills, Sunrise and Nusajaya, an integrated urban development located at southern end of Peninsular Malaysia.

Additionally, UEM Land also boasts its Mont'Kiara enclave, a residential suburb that integrates international schools, condominiums leisure facilities and amenities with commercial centres developed by its fully-owned subsidiary Sunrise Berhad (Sunrise).

UEM Land was among 14 Malaysian companies that had made Forbes' list, which Prime Minister Datuk Seri Najib Tun Razak had referred to as "shining examples of best business practices."

To be considered for the prestigious list, companies must generate annual revenue between US$5 million (RM15.59 million) and US$1 billion (RM3.12 billion), have positive net income and have been publicly traded for at least one year.

The companies that make it to the list are then ranked based on return on equity, as well as sales and earnings growth in the past year, over three years. Moreover, Forbes also excludes those firms that are thinly traded and those with major legal or accounting troubles.

M'sia-S'pore rail project to be made in 2013

 

 

 

 

The final decision on the upcoming Malaysia-Singapore Rapid Transit System (RTS) link project connecting Johor Bahru to the city-state will be made next year, according to a report by The Star.
At present, Malaysia and Singapore are undertaking the joint-engineering study for the project, said Datuk Ismail Ibrahim, CEO of Iskandar Regional Development Authority (IRDA)


The study looked into various factors that will affect the project such as multimodal terminal locations, CIQ matters (customs, immigration, and quarantine), alignments and other critical perimeters.
"Once it is completed, both governments will make a decision on the preferred alignments."
He revealed that there are two options for the RTS project linking Singapore and Johor Bahru - the trains could either run above ground or through undersea tunnel. Should the undersea tunnel be chosen, the parties will have to decide whether it will be a bore tunnel or a sunken tunnel.

Given that the project is situated near Singapore and Malaysia's (CIQ) complexes, the undersea tunnel is considered more favourable since it will cause minimal disruptions to traffic during construction, explained Ismail.

"The final outcome on what kind of link will be built will all depend on the recommendations of the study for the consideration of the two governments involved as well as costing," added Ismail.
Moreover, the terminating stations of the project will be located in Johor Bahru Sentral and in the vicinity of Singapore's Republic Polytechnic, announced a joint statement by the two governments.
The RTS link is expected to be fully operational by 2018.

Hua Yang to contribute to Johor's economic growth

 

In line with its aim to become a major developer in Malaysia, Hua Yang Bhd will play a bigger part in generating more jobs and contribute to Johor's economic growth, according to a report by Bernama.

The company's ongoing and upcoming major projects in Johor are expected to create more jobs within the state. These include Polo Park residences and the serviced apartments at Jalan Abdul Samad, as well as the township projects of Taman Pulai Hijauan and Taman Pulai Indah.

"While we aren't one of the biggest developers in Johor, we are working towards being one of the major players, with the aim to record RM800 million group revenue, come 2018," said May Chan, Chief Financial Officer at Hua Yang.

Hua Yang's operations in Johor started in 2001 with the 190ha Taman Pulai Indah, the company's first township project in the state with a gross development value (GDV) of RM818 million
Moreover, "for financial year 2013 (FY2013), we will continue to build our signature homes at Taman Pulai Indah with a GDV of RM41 million," she noted.

Hua Yang also recently unveiled its eco-living green haven project, the 56-ha Taman Pulai Hijauan (TPH). The Alder Residences, the first phase of TPH, was launched in April and has GDV of RM60 million.
Aside from that, the company will also launch its gated Polo Park project (GDV of RM41 million) at the Johor city centre in FY2013.

Chan added that "the total GDV earmarked to be launched in the FY2013 is RM165 million."

Legoland Malaysia opening on 15 September

BREAKING NEWS: The 76 acre Legoland Malaysia theme park will finally open on 15 September 2012 featuring over 40 rides and attractions, including race cars and roller coasters as well as family-focused interactive shows.

The Lego-inspired theme park is located in Kota Iskandar, Johor, which is linked to Singapore via the Causeway and is known as the "Southern Gateway to Malaysia." Apart from Legoland Malaysia, Johor also offers scenic spots for visitors including pristine islands, ancient rainforests, shopping malls and world-renowned golf courses.

"Our official opening date has been something we've had a lot of enquiries from the public on since the park broke ground in December 2009," said Siegfried Boerst, General Manager of Legoland Malaysia.
"I'm pleased to announce that due to the hard work of all of our contractors we will now be opening Legoland Malaysia ahead of schedule by a number of months," he said.

Boerst added that they expect families and tour operators to start planning their trips to visit the theme park. He also announced the sale of single-day tickets at an introductory price of RM70 for kids/senior citizens and RM96 for adults.

The 30 percent discount is offered for a limited period only so Legoland fans are advised to keep track of the Legoland Malaysia website (Legoland.com) for further announcements.