Local firms to build IDR waterfront projects

JOHOR BARU: Three local companies will undertake new waterfront property projects worth about RM540mil in the Iskandar Development Region (IDR) this year. Kota Selat Tebrau Sdn Bhd, Best Reality Point Sdn Bhd and Tune Hotels Sdn Bhd have projects slated in Danga Bay, which is within the 25km stretch of the IDR waterfront. Read more

(The Star 6-3-2008)

Tiong Nam to sublease land for RM52m

TIONG Nam Logistics Holdings Bhd has accepted a conditional offer to enter into a long term sublease rental with Port of Tanjung Pelepas to sublease four hectares of land for RM52 million.The move is to further expand the group’s total logistics activities in the area.

(New Straits Times 6-3-2008)

RM540m boost for Iskandar region

THREE Malaysian companies are investing a total of RM540 million in new waterfront properties within the Iskandar Development Region (Iskandar), Johor Menteri Besar Datuk Abdul Ghani Othman said yesterday.The projects — by Kota Selat Tebrau Sdn Bhd (KST), Best Reality Point Sdn Bhd and Tune Hotels Sdn Bhd — are all coming up in Danga Bay, which is within a 25km stretch of the Iskandar waterfront.KST, a special purpose company under the South Johor Investment Corporation (SJIC), is the master developer of waterfront land in Nusajaya and Danga Bay, which are among the two prime locations within the Iskandar.KST will develop Iskandar’s first high-end serviced condominium called Oakwood Residence Johor (ORJ).Read more

(New Straits Times 6-3-2008)

MRCB expects job orders to hit RM9b

Eleven of at least 12 analysts who track the stock recommend a 'buy' on it for they like its strong financials, professional management and that it is a government-linked company. MALAYSIAN Resources Corp Bhd (MRCB), a construction and property company, expects orders to jump by as much as 50 per cent to RM9 billion by the end of the year, its top official said.The combined order book of the main board company currently stands at around RM6 billion to RM7 billion."We're quite confident in terms of where we're going," group managing director Shahril Ridza Ridzuan said in an interview with Business Times. The two businesses typically account for up to 85 per cent of group revenue and profit, with the balance coming from environmental activities, property assets and building services, among others.On the property front alone, the group is planning up to RM6 billion worth of new developments. It is keen on securing more projects in the Middle East, Shahril said. Read more

(New Straits Times 6-3-2008)

More developments for IDR

JOHOR BARU: Three Malaysian companies are investing a total of RM640 million in new waterfront properties within the Iskandar Development Region (IDR). The projects by Kota Selat Tebrau Sdn Bhd (KST), Best Reality Point Sdn Bhd and Tune Hotels Sdn Bhd are all coming up in Danga Bay, which is within a 25km stretch of the IDR waterfront. Johor Menteri Besar Datuk Abdul Ghani Othman said the investments were a clear indication of, not only strong foreign interests, but also growing local confidence in the IDR. To date, the IDR has attracted some RM22 billion in total investments, especially from Middle Eastern investors. Major local firms like UEM Land Bhd are also blazing a trail with signature developments in the
southern corridor. Read more

(The Sun 5-3-2008)

PETALING JAYA: The Selangor State Development Corporation (PKNS) expects the third and final phase of De Rozelle Condominium in its Kota Damansara township to sell out within a week of its launch. “With 300 interests received and only 100 units available, we expect Phase 3 to be sold out fast,” said Mohd Wazir Bin Haji Abdul Gani, public relations manager of PKNS. According to Wazir, the project is very popular especially among the Chinese population, with a lot of buyers being newly weds and young working adults. A large portion of buyers is in the younger age group, with 20% to 30% of buyers aged 35 years and above. Read more

Maybank plans 30 more branches by June 2009

KLANG: Malayan Banking Bhd is expanding its domestic presence aimed at enhancing its market share, particularly in Peninsula Malaysia and will open another 30 branches nationwide by June 2009, said its network support head for consumer banking, Lee Chee Ming said. The country’s largest lender by assets currently holds a 20% market share in consumer banking with about 400 branches. Lee said from the additional 30 branches, five would be “in-store” branches located in shopping centres, while the remaining 25 would be conventional branches. “The branch strategy at retail malls has seen a significant increase in our e-channel’s business, particularly automated teller machine (ATM) transactions, which are 50% higher compared with the average ATM transactions at other Maybank ATMs nationwide,” Lee said at the official opening of its fifth in-store branch at the AEON Bukit Tinggi shopping centre here yesterday. Read more

(The Edge 5-3-2008)