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Investment & Market Trends, Property

Concorde Hotel & Shopping Centre Up for Collective Sale

Savills Singapore, as the exclusive marketing agent, is pleased to launch Concorde Hotel & Shopping Centre on 100 Orchard Road for sale by way of a public tender. Enjoying a very prominent frontage of approximately 170 metres along Orchard Road, Concorde Hotel & Shopping Centre is situated on a corner island site of approximately 99,623 sq ft and is zoned “Hotel” with a height control up to 10 storeys. The property has a development baseline verified by Singapore Land Authority (SLA) at 539,719 sq ft which is equivalent to a plot ratio of 5.41, and compares with the Master Plan plot ratio of 5.6. The property currently has a 3-storey retail podium with approximately 108,510 sq ft strata area and a 407-room hotel from levels 4 to 9 that overlooks the lush greenery of Istana Park. Rejuvenation plans have been confirmed and will be completed progressively from 2025 to pedestrianise this stretch of Orchard Road and expand the existing Istana Park green spaces situated directly across the site. Concorde Hotel & Shopping Centre is strategically placed and poised to benefit from this transformation, being the key major gateway project that will connect Dhoby Ghaut to the upper stretch of Orchard Road. Enjoying 4 road frontages along Orchard Road, Cavenagh Road, Kramat Lane & Buyong Road, the corner island site commands a distinctive presence and enjoys high footfall and traffic throughout the day. The site boasts an enviable address along Orchard Road, Singapore’s most renowned shopping belt and is set amidst a diverse mix of internationally renowned brands and retailers, dining establishments and entertainment options. Well served by the public transport network merely 3 minutes’ walk from both Dhoby Ghaut MRT Interchange and Somerset MRT station, the site offers unrivalled access to the Central Business District and Marina Bay. Future development will also feature a direct underground pedestrian walkway to Somerset MRT station which will significantly increase connectivity and footfall. This large development site offers developers ample planning flexibility and multiple development options to create the next iconic landmark development in the heart of Orchard. Potential uses for the site include luxury retail, , residential and hotel uses, subject to the relevant authorities’ approval. An Outline Planning application has already been submitted to the authorities for a mixed-use redevelopment scheme comprising Hotel, Commercial and Residential use. The guide price is S$820 million which works out to approximately S$1,801 per plot ratio (ppr) including balconies assuming a 40% Hotel, 40% Residential and 20% Commercial use and assuming the developer pays S$213.1 million to top up the lease to a fresh 99 years. The buyer may also consider submitting an alternative Outline Planning Application for a different use mix. Jeremy Lake, Managing Director, Investment Sales & Capital Markets, Savills Singapore says, “Savills has brokered all the successful collective sales sites along Orchard Road in the past 3 years: Tanglin Shopping Centre (S$868M / S$2,769 ppr), Ming Arcade (S$172M / S$3,125 ppr) and Delfi Orchard (S$439M / S$3,346 ppr). This is a testament of the stellar attributes of a development site within the Orchard locale which is highly sought after by developers riding on the next wave of rejuvenation. “The Concorde Hotel & Shopping Centre has been a central part of Orchard Road for decades, and its redevelopment will usher in a new era of growth and revitalisation for the area. An incoming developer can leverage this site to create an iconic and dynamic space that anchors and accelerates the rejuvenation of Orchard Road. While the zoning is ‘Hotel’, the site is ideal for a mixed use and integrated development subject to approval by the Urban Redevelopment Authority (URA),” he adds. There are no restrictions on foreign ownership. The public tender closing date will be 16th October 2024 at 3pm.

ESG

FedEx Kicks-off Vegetable Farming Program to Nurture Sustainable and Healthier Urban Communities for the Needy

KUALA LUMPUR: Federal Express Corporation, one of the world’s largest express transportation companies, announced its community-driven initiative in collaboration with local non-profit Treat Every Environment Special (TrEES) to establish an urban vegetable garden to provide fresh vegetables to low-income communities in Malaysia. For the second consecutive year, FedEx and TrEES are launching this initiative to address the lack of access to fresh and healthy food in urban areas. By converting an unused urban space into a thriving vegetable garden, the collaboration will cultivate fresh vegetables that will be delivered to those in need.   The four-month program that was kicked off on August 18 involved 18 FedEx team members who teamed up to plant, maintain and harvest approximately 6 kg of vegetables. These vegetables, alongside donations from FedEx employees, included essential items such as rice, noodles, cooking oil and spices, as well as personal care items like dental care products and sanitary pads, were delivered to beneficiaries.   “Access to nutritious food is a fundamental human right,” said Woon Tien Long, managing director, FedEx Malaysia. “Our collaboration with TrEES is a step towards ensuring that communities in need can enjoy the benefits of fresh produce. This initiative not only supports our commitment to sustainability but also strengthens community bonds.”   “We are excited to work with FedEx on this transformative project, said Leela Panikkar, director, TrEES. “Urban gardens are a powerful way to educate, inspire and feed. This project will not only provide fresh produce but also provide a platform for community education on sustainable practices and nutrition.   The 1,000-square-foot community vegetable garden in the Klang Valley, established last year through the initial collaboration, has seen over 12 types of vegetables grown and harvested. FedEx employees will remain actively involved in the program through a series of gardening activities to ensure a steady supply of fresh vegetables for beneficiaries. This program is part of the FedEx Cares global community engagement program, underpinned by our culture value of “Committing to Do Good.” Progress in key areas of our FedEx corporate social responsibility initiatives, including pillars such as Community Engagement, Global Entrepreneurship and Sustainable Logistics, can be found in the latest FedEx Cares Report.

Nguyen Thuy Hanh
News

Standard Chartered Vietnam appoints first Vietnamese CEO

Standard Chartered Bank Vietnam announced the appointment of Nguyen Thuy Hanh, CEO and head of Banking and Coverage, effective October 1. Hanh becomes the first Vietnamese national to hold this senior leadership role at Standard Chartered Vietnam, reinforcing the bank’s approach to diversity and commitment to promoting local talent. As a seasoned banker with 30 years of experience in the industry, Hanh brings with her deep local insights and international banking experience. Since joining the bank in 1997, Hanh has been in several leadership positions including head of Financial Institutions (FI) for Vietnam, Laos, and Cambodia, head of International Corporate and FI, head of Commercial Banking. Before this appointment, under Hanh’s leadership as head of Corporate and Investment Banking (CIB) for Vietnam, the CIB business grew profitably and sustainably, with a strong focus on the bank’s cross-border strategy. Hanh will succeed Michele Wee, who has made significant contributions to the bank during her tenure. Under Michele’s leadership, Standard Chartered Bank Vietnam saw robust growth and strengthened its focus on sustainability, diversity, and inclusion. Michele also worked closely with government bodies to support Vietnam’s goal of net-zero emissions by 2050. She was also instrumental in bringing the first Standard Chartered Marathon to Hanoi in November this year. Patrick Lee, CEO of Singapore and ASEAN at Standard Chartered Bank, said, “Vietnam is a dynamic and important market for the region and plays a key role in Standard Chartered’s cross-border strategy. We remain optimistic about its long-term development. Our Vietnam franchise has delivered growth and made huge strides in advancing sustainability and our position as a top international bank over the last 120 years here. I would like to thank Michele for her excellent leadership and outstanding contributions. Together with the local management, Hanh has our fullest support and I look forward to the bank’s continued success in Vietnam under her leadership.”–VIETNAM INVESTMENT REVIEW

News

Affin Group Unveils AFFIN DIVENTIUM Private Banking

KUALA LUMPUR: AFFIN Group (“the Group”) unveiled AFFIN DIVENTIUM Private Banking, offering bespoke wealth management solutions and financial advisory services tailored for Ultra-High-Net-Worth Individuals (UHNWI) and their businesses. AFFIN DIVENTIUM is designed for individuals with investable assets of RM2 million or more. Key Value Propositions of AFFIN DIVENTIUM Private Banking include: Personalised Private Banking Client Services: A dedicated Private Wealth Management team providing confidential financial planning and advisory services. Solutions for Business Aspirations: Comprehensive corporate advisory services, including support for mergers and acquisitions, debt and fundraising, corporate restructuring, and facilitation of cross-border transactions. Curated Private Banking Financial Solutions: A broad range of tailored financial products, including preferential rates on various banking services. Tailored Investment Portfolio Analysis: Customised investment strategies aligned with clients’ risk tolerance, financial goals, and investment horizons, developed by a dedicated team of experts. Engage, Indulge, and Relish: Exclusive access to private events, luxury brand collaborations, and invitation-only seminars, fostering valuable connections among elite clientele. Official Photo of AFFIN DIVENTIUM Private Banking   Datuk Wan Razly Abdullah, President & Group Chief Executive Officer of Affin Bank Berhad, highlighted the strategic importance of this launch. “AFFIN DIVENTIUM Private Banking represents more than just a new segment; it is a quantum shift in how we approach private banking. We are crafting experiences that resonate with the unique aspirations of our Ultra-High-Net-Worth clients, including their businesses.” In addition, the Group introduced Luxurious Asset Financing, providing clients with access to premium options for acquiring and managing high-value assets, such as yachts, with ease and flexibility. AFFIN Group offers a comprehensive suite of financial solutions for individual, enterprise, commercial, and corporate clients, ensuring all wealth management needs are met. This holistic strategy spans from day-to-day banking and investment management to sophisticated corporate banking services and long-term financial planning.

ESG

Firms need focus on ESG commitments

KUALA LUMPUR: The Securities Commission (SC) is exploring ways to enable companies apply the Maqasid al syariah aspirations and principles in their products and services besides having better environmental, social and governance (ESG) practices. Chairman Datuk Mohammad Faiz Azmi said the actions needed because some companies were focusing on profit maximisation to the detriment of their stakeholders and the planet. “In the context of climate change, the data being provided by scientists on the alarming decrease in biodiversity, changing weather patterns, intensity of weather events and the impending rise of sea levels should be factored into the way companies operate,” he said in his opening remarks at the 15th SC-Oxford Centre for Islamic Studies Roundtable held in the United Kingdom last Saturday.He said another area for companies to focus on is their commitment to ESG standards. “We have a many examples of companies who appeared to put profit before safety or were indifferent about proper governance. “In the pursuit of profit, compassion, empathy and basic humanity seemed to have been forgotten,” he said.Mohammad Faiz pointed out that the SC had issued the Maqasid al syariah guidance for the Islamic Capital Market in the country in November 2023 so that the aspirations and principles could be applied in the context of the capital markets. — Bernama

Investment & Market Trends

Masteron, Maybank, and The Makeover Guys Join Forces to Support First-Time Homeowners

KUALA LUMPUR: Masteron Group – a premier property developer in Malaysia – announced its collaborative partnership with Maybank and The Makeover Guys (TMOG) to offer a complete homeownership solution for its newest launch in Puchong, the Astra at Aurora Residence. This collaboration is designed as a holistic solution for all three parties that assists Malaysians in reaching their major life milestones. Understanding the daunting process of home ownership – especially for first time buyers – is extremely daunting, with many significant decisions to be made from financing, to choosing a property, to even picking wall colours and fittings. As Malaysians buying their starter homes may become overwhelmed, this collaboration therefore aims to demystify and ease the process for home buyers to turn their units into fully integrated dream homes. With this partnership, prospective Astra at Aurora Residence home owners have access to both home ownership financing and home customisation financing, as well as a selection of furnishing packages provided by TMOG for Astra at Aurora Residence customers to choose from, worth up to RM45,000* (*terms & conditions apply). “It was really important to us to create a one-stop-shop for these first-time homeowners,” says Choy Kin Mann, Director of Masteron. “With 80% of our customers for Astra at Aurora Residence buying to stay, we knew we wanted to give them comfort and support from house to home. Now, we can do exactly that, covering these young home buyers from property purchase to financing to interior design. We’re very excited to not only continue Masteron’s long-standing relationship with Maybank – since our founding in 1981, in fact – but also to highlight our newer collaboration with TMOG as well.” Astra at Aurora Residence exemplifies modern living in Puchong Prima, designed with the idea of blending the lines between ‘live, work, and play’. These 728 serviced apartments, designed as starter homes for young families, feature New Urbanism-inspired designs that promote walkable, mixed-use, and diverse neighbourhoods, combining modern architecture with nature-centric facilities. With amenities like a hydroponic glass house, two swimming pools, and a communal herbs garden, the property is purpose-built for a lifestyle that is natural, timeless, and future-proof. Adding on to the home comforts provided within Astra at Aurora Residence, Maybank  MyDeco financing provides prospective home buyers further financial accessibility for options for interior design, furnishing, fittings, aesthetics, decorations and more. In fact, Maybank MyDeco financing provides up to 120% of the property value,  including additional 30% on top of existing financing or a maximum of RM250,000, whichever is lower. Financing is disbursed progressively over a 12-month period – with a repayment period of up to 10 years or until the age of 70, whichever comes first – ensuring flexibility, convenience, and providing liquidity for the customers. “We are thrilled to partner with Masteron and The Makeover Guys to make home ownership a joyful experience for Malaysians,” adds Tracy Pan, Head of Mortgage at Maybank. “Our goal is to simplify the entire home ownership journey, from securing a mortgage to creating a space you truly love. Maybank MyDeco financing empowers customers to not only purchase their dream home, but also personalise it to reflect their unique style. This collaboration is a testament to our commitment to putting our customers first and providing comprehensive solutions that meet their evolving needs. This is our drive and commitment to Humanising Financial Services: by easing our customers’ journey through putting our customers at the heart of everything we do.” “Creating a home goes beyond decorating and arranging furniture within four walls and a roof. Turning a house into a home means creating a space that offers comfort while showcasing the style of the people living there — which is exciting, no doubt, but can get overwhelming, especially in the rush of organising your first home. Our role here is to simplify the interior design process,” shares Gavin Liew, CEO and Founder of The Makeover Guys. “Our available selection of base templates has been curated to serve as a helpful starting point for homeowners, easing them into the design process with plenty of room for future growth.” With this three-way collaboration, future homeowners can look forward to having a fully integrated, end-to-end process to take their starter properties from a blank slate to their first home.  

Property

Trinity Rainfora: Where Urban Living Meets Nature’s Serenity

KUALA LUMPUR: Trinity Group has unveiled its latest flagship development, Trinity Rainfora, a distinctive transit-oriented project inspired by the rainforest, nestled in the heart of the Klang Valley. This RM388 million, 31-storey development spans a 2.4-acre freehold plot and comprises 535 residential units ranging from 739 to 1,184 square feet. Situated in Bandar Kinrara 5, Puchong, Trinity Rainfora enjoys superb connectivity, located just 400 meters from the Kinrara BK5 LRT station and offering easy access to major highways like Bukit Jalil, LDP, and KESAS, linking residents seamlessly to Kuala Lumpur and beyond. Embracing the concept of urban living amidst nature, the development is conveniently surrounded by educational institutions, shopping centers, and healthcare facilities within a 5-kilometer radius. Dato’ Neoh Soo Keat, Founder and Managing Director of Trinity Group Sdn Bhd, emphasized the project’s response to evolving consumer preferences shaped by recent global shifts: “Buyers today seek simplicity and profound wellbeing. They desire homes that serve as sanctuaries from urban demands. Understanding this, we’ve crafted living spaces that blend urban vitality with the tranquility of nature.” “As we mark our 20th anniversary, Trinity Rainfora represents our vision to redefine urban living in Malaysia. This development not only offers exceptional living spaces but also underscores our commitment to sustainability and innovation,” he added. Trinity Rainfora boasts a wealth of amenities including a Rainforest Canopy, Moonlit Skyrun Track, Glamping Forest, Infinity Pool, Aqua Gym, and more, with over 40% of the podium and 53% of the sky terrace dedicated to lush green spaces. Catering to upper-middle-class families and young professionals, Trinity Rainfora features various unit sizes conducive to multi-generational living, ensuring ample space for growth and recreation. In conjunction with its launch, Trinity Group introduces the Gold Assurance Programme, enhancing buyer confidence with extended warranties beyond industry standards:  36-Months Defects Liability Period 10-Year Warranty for Roof Leak  5-Year Warranty for Tiles Pop-Up “Our Gold Assurance Programme ensures long-term value and peace of mind, setting a new standard in quality assurance for homeowners,” concluded Dato’ Neoh. Scheduled for completion in 2028, Trinity Rainfora exemplifies Trinity Group’s evolution into an award-winning developer renowned for delivering outstanding residential properties.

Lifestyle, News

Malaysia opens first luxury airport transit hotel

SEPANG: Transport Minister Anthony Loke Siew Fook officially opened CapsuleTransit MAX on 3rd September 2024, a premium boutique  hotel located within Kuala Lumpur International Airport Terminal 2 (KLIA2) which is raising transit accommodation experience to a whole new level for domestic and international travellers. CapsuleTransit MAX (short for Malaysia’s Authentic eXperience) rivals any 5-star hotel with its 46 premium beds, a lounge, a spa and even a fully-equipped gym on the landside of KLIA2. Speaking at the launch, Loke said the opening was timely as Malaysia geared up to meet the demands of discerning tourists and business travellers for Visit Malaysia Year 2026. Loke also congratulated CapsuleTransit on its 10th anniversary. “I commend Capsule Transit for supporting the collaborative effort between the government and private sector to improve our airport offerings. This new CapsuleTransit MAX is a feature we can proudly showcase to our airport guests,” he said. CapsuleTransit founder and CEO Ryan Loo said CapsuleTransit MAX blended luxury, heritage and modernism with a touch of fun to create a unique and unforgettable stay for guests. “To truly offer ‘Malaysia’s Authentic eXperience’, MAX is designed to introduce guests to the vibrant culture of Malaysia and showcase the finest of Malaysian talents. “MAX’s space and ambience is carefully created by the international award-winning design firm Blu Water Studio to reflect the ingenuity and creativity of Malaysia. Collaborating with renowned digital artist Abdul Shakir, we have infused MAX with genuine Malaysian charm. “Furthermore, we have collaborated with renowned local brands, such as Acaya, APOM, Ana Tomy, Pestle and Mortar Clothing (PMC), and Typical Us, to feature typical Malaysian craftsmanship, further enhancing the authentic experience at our flagship hotel,” he said. Being the first of its kind premium Capsule hotel, Loo shares further that CapsuleTransit MAX offers more than just a place to rest, with their services designed to elevate the travel experience, making it as seamless and enjoyable as possible. Its lounge, the first plant-based airport lounge, offers a variety of plant-based hot meals, free-flow light nibbles, and non-alcoholic beverages. CapsuleTransit MAX offers well-appointed rooms equipped with comfortable beds, modern amenities, and privacy to ensure a restful experience. Its executive rooms come with long baths, a rare feature in airport hotels. Other unique features of this hotel include a “runway suite” that offers unparalleled views of the runway, their fully-equipped gym that’s the first such gym inside an airport terminal, and relaxing steam bath facilities to provide guests with exclusive wellness options during their stay. Its Business Club offers business amenities such as meeting rooms, conference rooms and even an event space. “We provide a range of amenities that cater to both leisure and business travellers, ensuring that every guest leaves with a smile,” said Loo. CapsuleTransit MAX also has an exclusive merchandise corner, featuring a curated selection of products showcasing some of the finest Malaysian creations and brands, offering travellers a unique opportunity to take home a piece of Malaysia’s vibrant artistic heritage. “From our carefully curated merchandise to our locally sourced furniture, MAX proudly exhibits some of the best that Malaysia has to offer. “We at CapsuleTransit have come a long way since our inception in 2014. Today, we open yet another chapter as we proudly unveil our latest endeavour of 46 rooms at KLIA Terminal 2. “This launch highlights our commitment to welcoming travellers from all around the world with our renowned Malaysian hospitality, and we strive to position Malaysia as the key destination in Asia,” Loo added. Also present at the opening were Malaysia Airports Holdings Berhad (MAHB) Senior General Manager of Commercial Services, Hani Ezra Hussin, WCT Malls CEO, Selena Chua, and invited guests. Established in 2014 in conjunction with KLIA Terminal 2’s opening, CapsuleTransit began its journey with a modest offering of only 79 beds. Over the years, the company has expanded its footprint to meet the growing demand for airport accommodations. By 2018, CapsuleTransit had increased its bed capacity to 204 in KLIA Terminal 2 (Landside), followed by an additional 70 beds in KLIA Terminal 2 (Airside) by 2019. In June 2023, CapsuleTransit further expanded its presence with the introduction of 24 beds in KLIA Terminal 1 (Landside), providing a comfortable resting place for weary travellers, and now followed by the launch of CapsuleTransit MAX today. In anticipation of Visit Malaysia Year 2026, CapsuleTransit will continue to work closely with MAHB by adding approximately 200 beds, further enhancing the accommodation options made available for travellers.

News

Temasek Foundation Appoints Jennie Chua as New Chairman

SINGAPORE: Temasek Foundation on Thursday (Sep 5) announced the appointment of Ms Jennie Chua as its new chairman. Her appointment took effect on Sep 1. Ms Chua succeeds Mr Benny Lim, who served as the organisation’s chairman for the past four years. Temasek Foundation said Mr Lim provided oversight in guiding the organisation’s “strategic transformation” during his tenure. “Together with the board, he also steered the organisation through its COVID-19 initiatives, complementing other nationwide efforts in building resilience against the pandemic and supporting Singaporeans in staying safe.” WEALTH OF EXPERIENCE Temasek Foundation said Ms Chua brings with her a “wealth of experience”, having served at the foundation since its beginnings in 2007. “As we welcome Ms Jennie Chua into this role, we look forward to an exciting new chapter of growth for the organisation.” Ms Chua is a former CEO of Raffles Holdings and Ascott Group, and previously served as chief corporate officer for CapitaLand. She was also chairman of the Community Chest of Singapore and is now its adviser, according to her entry on the Singapore Women’s Hall of Fame website. Ms Chua has been conferred several National Day Awards, the most recent being the Distinguished Service Order this year. She also received the Public Service Medal in 2004, Public Service Star in 2008 and Meritorious Service Medal in 2014. According to the Singapore Women’s Hall of Fame, she sits on the board of several companies and organisations including the Alexandra Health System and the Singapore Film Commission.–CNA

Investment & Market Trends

Kabal acquires Trackit Energy, expanding reach in Asia Pacific

KUALA LUMPUR: Kabal Software, a global leader in logistics software solutions for the energy industry, announced the acquisition of Trackit Energy, a move that will enable the company to offer enhanced support and significant benefits to its customers in the Asia Pacific region and beyond.   Kabal is renowned for its innovative software that streamlines logistics operations and empowers energy operators to achieve significant cost savings and operational efficiencies. Some of its key benefits to customers include 30% reduction in vessel costs and up to 50% reduction in rental equipment costs on top of minimized carbon emissions from operations.   As a specialist in workforce management, Trackit Energy has been expanding its offerings for the past decade. Over the years, it has built a strong team to service customers in the region’s energy space. With the acquisition of Trackit Energy, Kabal will be able to combine the complementary expertise and technologies of both companies to deliver even more comprehensive and efficient solutions to energy operators worldwide.   “With the increasing demand for efficient and cost-effective logistics solutions in the Asia Pacific energy sector, we are excited to expand our capabilities and offerings. By combining our expertise with Kabal’s cutting-edge logistics management platform, we will be able to provide our customers here with comprehensive, end-to-end logistics solutions, offering them even greater value for their operations,” said Kevin Best, Chief Executive Officer of Trackit Energy.   “We are excited to welcome Trackit Energy to the Kabal family,” said Jan Inge Pedersen, Chief Executive Officer of Kabal. “Trackit Energy has been a respected competitor over the years, and with their expertise combined with ours, we are poised to accelerate our growth in the dynamic energy industry. We look forward to helping our clients in this region to optimize operations, reduce costs, and minimize their environmental footprint by providing them with total control over all cargo, resources and transport.”

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