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News, Property

Alam Suria Becomes a Prime Modern Haven Nestled in an Evolving Landscape

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PUNCAK ALAM: The transformation into a thriving township from a quiet area is a testament to IJM Land’s well-honed expertise, cultivated over two decades since 2001. The masterfully developed Alam Suria by IJM Land, spanning 1,163 acres, showcases a vibrant mix of residential and commercial projects. This prime location offers a serene environment while being close to essential amenities, making it highly attractive. It has already attracted around 28,000 residents, with more soon to join the Alam Suria community. Surrounded by nature, Alam Suria offers a peaceful retreat with refreshing breezes and tranquil tree-lined lanes. The entrance, adorned with the Gerbera Flower and the tagline ‘Bringing It All Together’. The township epitomises a comprehensive, holistic, and comfortable lifestyle. People from all walks of life can expect a complete township with a wide range of amenities, providing all the required elements for a comfortable lifestyle and more. Residents enjoy comfort, assured that Alam Suria is their long-term home where they can find daily revitalisation in the lush surroundings and retail options, fostering connections within the community and reconnecting with loved ones and friends in the nearby park. Capitalising on a key driver of exponential growth is the soon-to-be-completed East Coast Rail Link (ECRL), located at Puncak Alam, approximately 2km from Alam Suria city center. This will enhance convenience and connectivity for residents, serving as a catalyst to boost market growth and make it an increasingly appealing place to live and invest in the future.  The East Coast Rail Link (ECRL) project is a transformative 665 km-long railway that will connect several regions across Malaysia’s east and west coasts. It is scheduled for completion by the end of 2026 and full operational readiness by January 2027, significantly reducing travel time between Kota Bharu and Kuala Lumpur to just four hours. This improvement will enhance connectivity and accessibility along this stretch of the Peninsula. Within this network, the ECRL Puncak Alam Passenger Station is strategically positioned within Alam Suria as a vital hub. Located near Jalan Ambang Suria 17/2/1, the station is just 1.3km from the Suria Square commercial centre, 1.5km from Daffodil Residency, and 1 km from the highly anticipated Suria Hill, scheduled for launch in 4Q 2024. Building on the success of previous developments, Alam Suria is also set to launch Suria Hill, a low-density hilltop double-storey terrace house development spread across a 170-acre site. Comprising 918 units and consisting of five main phases, Suria Hill also features Suria Park, a 4.42-acre area of lush greenery with facilities suitable for all ages to have fun and enjoy. The Parcel 1—Type E homes, with a land area of 20’x’60’ and each measuring 1,606 sq ft, will be launched in Q4 2024. This new phase promises to offer residents modern landed living spaces in a thriving community, with each unit designed with a focus on utility, spaciousness, and comfort, catering to residents who desire a high quality of life. The launch of Suria Hill represents the next step in IJM Land’s ongoing commitment to creating well-rounded and vibrant living environments. “The ECRL and WCE will attract businesses and investors, spurring economic activity and creating job opportunities in the area. This seamless connectivity enhances accessibility and significantly boosts the value of Alam Suria as a prime living location. With improved public transportation infrastructure and better connectivity within the states, property prices in the region are expected to increase, paving the way for Alam Suria’s accelerated development and future growth,” said IJM Land Senior General Manager, Chai Kian Soon. With its blend of modern living spaces, strategic location, and upcoming transportation links, Alam Suria is set to reap the dual benefits of improved connectivity and enhanced public transport infrastructure to become a thriving and desirable community in the very near future.

Events

Thai Businesses, Stakeholders Urged to Participate in Malaysia-China Summit 2024

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BANGKOK: Businesses and stakeholders in Thailand are encouraged to participate in the Malaysia-China Summit (MCS) 2024 in December to leverage not only the presence of Malaysian businesses but also the large presence of China’s industries. MCS 2024 Commissioner-General Datuk Tan Yew Chong said the summit aims to shape the future trajectory of the regional partnership, tackling significant issues that will drive economic growth, cooperation and development across ASEAN. “Understanding the landscapes of Malaysia and China can help Thai businesses navigate and thrive in these markets,” he said after the MCS 2024 Networking Engagement Series. He said MCS 2024 covers five strategic pillars, namely future tech, mobility and connectivity, opportunity, growth, knowledge and experience. “We have set a sight achieving RM2 billion in potential trade and investment opportunities during the 3 days of MCS 2024,” he said. Organised by the Malaysia External Trade Development Corporation and Qube Integrated Malaysia Sdn Bhd, the 3-day summit begins on 17 December at the Malaysia International Trade and Exhibition Centre (MITEC). Marking the 50th anniversary of Malaysia-China bilateral relations, the event aims to deepen economic integration and cooperation among ASEAN nations and China. Meanwhile, the Malaysian Ambassador to Thailand, Datuk Jojie Samuel, said the MCS 2024 is an essential platform for deepening ASEAN integration. “It provides an urnparalleled opportunity for Thai businesses to engage, collaborate and explore new growth with counterparts from Malaysia, China and other ASEAN nations,” he said. Jojie said Thai businesses can connect with over 500 exhibitors and 10,000 trade visitors by participating in the summit. “MCS 2024 will facilitate numerous opportunities for Thai businesses to expand their market reach, forge strategic partnerships and gain valuable insights into emerging trends and technologies,” he added. — BERNAMA

ESG, News

Sarawak Attracts RM4.2 Bil Investments, Poised to Receive More Green Investments

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KUALA LUMPUR: Sarawak has attracted RM4.2 billion in approved investments in the first quarter of 2024 (1Q2024), a key part of the national growth story following the launch of the New Industrial Master Plan (NIMP) 2030. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this ranks the state at fourth place in terms of value of investment flow. He said the key achievements since NIMP 2030’s launch almost a year ago include approved investments valued at RM329.5 billion recorded by Malaysia in 2023, potentially creating almost 130,000 jobs. “(We also achieved) approved investments of RM83.7 billion for 1Q2024, up 13% year-on-year (YoY), and out of this, more than 56% was approved foreign investment. “The total investments approved will create 29,000 new jobs for Malaysians, a 14.6% increase YoY),” he said in his remarks at the MIDA Invest Series titled ‘Sarawak Unfolding Its Business Potentials’. Tengku Zafrul mentioned that many electrical and electronics (E&E) as well as chemicals companies have established their presence in Sarawak, including Taiyo Yuden Sdn Bhd, OCI Co Ltd, Melexis and X Fab Sarawak Sdn Bhd. “Together with many other domestic and foreign investors, these investments have created valuable spillover opportunities for small and medium enterprises and our fellow citizens in Sarawak, proudly contributing to the vibrant economic development of the state and nation,” he said. The minister also said Sarawak’s ambitious green energy agenda, which aims to decarbonise its transport system and transition towards a low-carbon economy is highly complementary to the national level strategy on green investments, NIMP 2030 and National Energy Transition Roadmap (NETR). He also revealed that from 2021 to March 2024, about 80% of manufacturing projects approved had been implemented. “The high implementation rate has been made possible through initiatives such as the Invest Malaysia Facilitation Centre (IMFC) at the Malaysian Investment Development Authority, with support from key agencies like the Royal Malaysian Customs, Immigration, and Inland Revenue Board, to ease the investors’ journey in Malaysia,” he said. He added that the Investment, Trade and Industry Ministry has been focusing on revamping the whole industrial and investment ecosystem, including incentives, talent, infrastructure, as well as regulatory, procedural, and institutional mechanisms. — BERNAMA

Investment & Market Trends, News

Asian Development Bank Revises 2024 Growth Forecast for Developing Asia

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KUALA LUMPUR: The Asian Development Bank (ADB) has revised its economic growth forecast for developing Asia to 5% from a previous projection of 4.9% in April and maintained the 2025 growth projection at the same percentage. In its Asia Development Outlook for July 2024 recently released, ADB said resilient domestic demand, along with improved exports and manufacturing, will support growth this year. The region’s 2024 growth forecast was marginally adjusted upwards in tandem with those of the Caucasus, Central Asia and East Asia. ADB Said the headline inflation in developing Asia is forecast to ease further to 2.9% this year from 3.3% last year and stabilise at 3% in 2025. “Inflation continued to moderate toward pre-pandemic levels, mainly due to the lagged effects of monetary policy tightening and a slight easing of global food prices. “Meanwhile, growth projections remain broadly unchanged with downside risks persisting, including heightened geopolitical tensions, trade fragmentation and uncertainties related to elections in major economies,” it noted. For Southeast Asia, the growth forecast is maintained at 4.6% this year and 4.7% in 2025, while for the Pacific, it remains at 3.3% in 2024 and 4% in 2025. The ADB also pointed out that interest rates in the United States (US) and other advanced economies continue to shape the outlook, subject to several downside risks. “Uncertainties on the US election outcome, elevated geopolitical tensions and trade fragmentation, property market fragility in China, as well as weather-related events could hurt growth. “Meanwhile, the La Niñna is an upside risk due to expected higher rainfall and cooler temperatures,” it added. As for Malaysia, the ADB maintained its forecasts of a 4.5% growth for 2024 and 4.6% for 2025. It noted that Malaysia’s GDP grew by 4.2% in the first quarter of 2024, supported by strong private consumption (+4.7%) and continued improvements in employment and wages. It said investments also posted strong growth, underpinned by solid infrastructure investment (11.9%) and spending on machinery and equipment (8.9%). Tourism arrivals continued to rebound (32%), along with growth in accommodation, transport, real estate, and construction. The bank added that manufactured exports posted a modest recovery (2.4%), supported by strong export growth from liquid natural gas (4.2%) and crude petroleum products (13.3%). — BERNAMA

Events

MAAFIM Hosts the 4th International Conference to Advance Interdisciplinary Medicine

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SHAH ALAM: The Malaysian Association for Advancement of Functional and Interdisciplinary Medicine (MAAFIM) is proud to announce the 4th International MAAFIM Conference 2024, themed “Beyond Borders: Global Perspectives in Interdisciplinary Healthcare,” to be held from 18th to 21st July 2024 at the Glenmarie Hotel & Golf Resort. The conference aims to facilitate the advancement of science, research, education, and further training in interdisciplinary medicine, fostering a community of practitioners who integrate conventional and complementary approaches based on evidence-based results. Dr. Paramjit Kaur, President and Organizing Chairperson of MAAFIM, highlighted the event’s significance: “This conference is crucial for promoting best practices in interdisciplinary medicine. It is a platform for knowledge exchange, professional development, and collaboration among healthcare practitioners worldwide.” Patron of MAAFIM, Tan Sri Lee Kim Yew, who will officiate the conference, emphasized the importance of such gatherings: “The 4th International MAAFIM Conference is an opportunity to advance holistic healthcare by integrating various medical disciplines. The discussions and innovations presented here will contribute significantly to the global healthcare landscape and it is a pivotal step in our journey to position Malaysia as a leader in healthcare and wellness in Asia. The healthcare and wellness industry in Malaysia is a significant contributor to the economy, with the healthcare market projected to reach USD 13.1 billion in 2024. As Malaysia continues to evolve as a healthcare hub, events like the MAAFIM Conference are essential in driving forward innovative practices and policies that benefit both practitioners and the public. By integrating various medical disciplines, we can introduce more innovative and accessible healthcare services to our people. This conference is not just an event; it is a testament to our commitment to advancing holistic healthcare and enhancing the quality of life for everyone,” concluded Tan Sri Lee Kim Yew. One of the key highlights of the conference will be the presence of Dr. Paul Marik, a renowned expert in critical care and co-founder of the Front Line COVID-19 Critical Care Alliance. Dr. Marik will deliver a keynote address on innovative approaches in critical care and integrative medicine. His participation underscores the conference’s dedication to exploring groundbreaking advancements in healthcare. The conference will feature 12 renowned speakers presenting on key subjects such as Integrative Oncology, Functional Nutrition, Traditional and Complementary Medicine Integration, and Advances in Medical Technology. These sessions aim to provide attendees with a comprehensive understanding of the latest developments and practical applications in interdisciplinary medicine. MAAFIM’s mission is to build and support a vibrant community of interdisciplinary medicine practitioners, encourage the next generation of doctors, develop standards and guidelines, and advocate for the benefits of an interdisciplinary approach to healthcare. This year’s conference will provide a dynamic environment for healthcare professionals to share insights and explore new frontiers in medical practice. For more information on the conference and registration details, please visit the MAAFIM official website at MAAFIM Conference 2024.

News

Anchanto appoints digital transformation expert Ajay Veeraraghavan as a Senior Director, Product & Solutions

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SINGAPORE: Anchanto, the leading e-commerce and logistics technology company, has appointed Ajay Veeraraghavan as Senior Director, Product & Solutions. With over 20 years of experience in digital transformation across retail, grocery, consumer goods and high-tech, Ajay is poised to lead Anchanto’s product innovation and global growth. Ajay’s appointment comes at a pivotal time as Anchanto scales its operations worldwide. Leveraging his extensive expertise in multi and omni-channel e-commerce solutions, Ajay will drive the products and solutions verticals at Anchanto to help businesses enhance business outcomes through innovative solutions in supply chain planning, order management, warehouse management, inventory optimization, e-commerce analytics and more.   Driving global expansion and innovation Anchanto has consistently demonstrated remarkable growth, with a 40% year-over-year increase over the past four years and $36 million in funding. Ajay will be instrumental in executing Anchanto’s vision to become the leading e-commerce and logistics backend technology provider. This involves strategic growth through mergers and acquisitions to expand geographically and enhance the product suite, ultimately solidifying Anchanto’s market position globally.   Leveraging his extensive experience, Ajay will help customers harness AI-driven market opportunities through solutions like Anchanto Digital Shelf, enhancing competitive advantage, market share, and customer engagement.   In addition, Ajay will address market challenges such as helping brands protect themselves from grey sellers, and developing robust security strategies to protect consumers and businesses. He will also manage innovative solutions to monitor the grey market, which poses significant risks to consumers and legitimate businesses. Effective monitoring will ensure brand integrity, pricing consistency, and overall market confidence.   “Ajay’s appointment represents a significant addition to our leadership team,” said Vaibhav Dabhade, CEO of Anchanto. “His deep understanding of digital transformation will drive innovation and customer success across our product and solutions portfolio globally.”   “I am thrilled to join Anchanto and contribute to its mission of driving digital transformation and delivering value to customers,” said Ajay Veeraraghavan. “I look forward to working with the team to continue innovating and delivering best-in-class solutions that meet the evolving needs of our clients

Investment & Market Trends

ASEAN Exchanges Commit to Advance ASEAN as an Attractive Region at the 37 th ASEAN Exchanges CEOs Meeting hosted by Bursa Malaysia

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PENANG: Bursa Malaysia Berhad hosted the 37th ASEAN Exchanges CEOs Meeting on July 12, 2024, convening CEOs from the region’s six major exchanges. The meeting focused on enhancing regional competitiveness, with particular emphasis on bolstering sustainability efforts and strengthening market connectivity across ASEAN. CEOs and Presidents from Bursa Malaysia, Indonesia Stock Exchange (IDX), The Philippine Stock Exchange (PSE), Singapore Exchange (SGX Group), The Stock Exchange of Thailand (SET), and the Deputy CEO of Vietnam Exchange attended the meeting. Representatives from Cambodia Securities Exchange and Lao Securities Exchange also participated as observers. This year’s meeting built upon the initiatives discussed during the previous year’s gathering hosted by SET in Chiang Mai. In a bid to enhance regional market connectivity, ASEAN Exchanges collectively agreed to pursue initiatives such as offering Depository Receipts (DRs) across their platforms. This move aims to provide domestic investors with increased access to investment opportunities in neighbouring countries, following the successful DR linkage established between SGX Group and SET. Regarding sustainability, significant progress was noted in the past year, marked by intensified information sharing among ASEAN exchanges and the adoption of Common ESG metrics. The CEOs committed to several Proof-of-Concepts (POCs) over the next three years, including establishing an ASEAN Data Infrastructure, developing a standardised ASEAN ESG curriculum for listed issuers, promoting transition financing for corporate suppliers, and instituting ASEAN ESG Awards to recognise exemplary performance. The ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) initiative, initially involving Bursa Malaysia, IDX, and SET, has expanded to include SGX Group and recently PSE. This expansion underscores ASEAN’s dedication to implementing Common ESG Metrics, which enhances transparency and promotes exemplary ESG practices across the region. Datuk Muhamad Umar Swift, CEO of Bursa Malaysia, emphasised the significance of PSE’s inclusion in ASEAN-ISE, highlighting the collective commitment of ASEAN Exchange members towards sustainable development. Ramon S. Monzon, President and CEO of PSE, expressed enthusiasm about contributing to ESG initiatives in ASEAN markets through collaborative efforts with peer exchanges. The ASEAN Exchanges website, recently updated, now serves as a comprehensive resource for global investors interested in exploring opportunities within ASEAN economies, offering insights into market developments and information. For more details, visit www.aseanexchanges.org.

Energy & Technology

PGF Capital Partners with Centria International to Boost Industrial AND Data Centre INSULATION Efficiency

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PULAU PINANG: Main-market listed leading insulation producer in Southeast Asia, PGF Capital Berhad (“PGF Capital” or the “Group”) (stock code: 8117), announced today that its wholly-owned subsidiary, PGF Global Distribution Sdn. Bhd. (“PGF Global”), has entered into a five-year distributorship agreement with Centria Building Material Manufacturing (Shanghai) Co., Ltd. (“Centria International”) (the “Agreement”).            Centria International, a global leader in advanced building materials and solutions, boasts a 20-year track record of providing design, supply, and installation solutions for insulated metal panels. Their solutions have been adopted by various industrial and commercial buildings including data centres, some of which are owned by Fortune 500 companies, as well as hospitals, schools and hotels.   The Agreement grants PGF Global exclusive distributorship rights for Centria International’s mineral wool sandwich panels for the Malaysian market. These panels deliver thermal insulation, demonstrably lowering energy consumption and enhancing indoor comfort. Furthermore, their lightweight nature not only facilitates quicker and more efficient construction processes but also offers fire resistance, sound insulation and long-term durability, making them a versatile solution for a broad range of industrial building applications. Commenting on the Group’s collaboration with Centria International, Executive Director cum Group Chief Executive Officer, Mr Fong Wern Sheng, expressed his optimism about the partnership. “This collaboration is expected to enhance our market position and drive revenue expansion by unlocking new market opportunities for the Group. The versatility of these high-performance insulation panels allows us to cater to a broader customer base.”   “We see substantial opportunities as Malaysia undergoes a significant boom in data centre development, spurred by the rising demand for digital services and cloud computing. The mineral wool sandwich panels are particularly well-suited as wall facades for these data-centric facilities. They offer excellent thermal performance, which is crucial for maintaining optimal temperatures and reducing cooling costs and energy consumption. Additionally, the fire-resistant properties of the panels enhance building safety by minimising the risk of fire spread. On this note, Centria International’s insulation solutions have been proven to be effective and are adopted in data centres of leading multinational technology companies,” he explained.   The collaboration with Centria International also paves the way for the potential joint establishment of a local manufacturing facility to produce insulated panels with both glass wool and stone wool core options.

News

Property sector shows strong performance in 1H24

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KUALA LUMPUR: The property sector has demonstrated commendable mid-year performance, signalling a promising trajectory for the industry fuelled by strategic developments and growing investor interest, says Knight Frank Malaysia. Group managing director Keith Ooi cited the robust economic growth, significant investments and adaptive market trends as key catalysts supporting the growth. “Malaysia continues to show promising prospects, bolstered by strategic investments, infrastructure improvements and evolving market dynamics,” he said. The global property consultant released its analysis entitled Real estate highlights first half of 2024 yesterday, revealing a dynamic and resilient market across residential, office, retail, hospitality, and industrial sectors. During the presentation, Amy Wong, executive director of Research and Consultancy, said the high-end high-rise residential segment in the Klang Valley and Johor had seen increased growth in transactions and values. In the first quarter of 2024, a total of 3,413 residential units were sold for RM2.8bil – a 19.2% increase in volume and a 19.3% rise in value. Three high-end condominium projects were completed during the quarter, adding 1,846 units to the market.“Future completions in the second half of 2024 (2H24) will add some 5,866 units,” she said. In Johor, growth in transaction volumes and values were recorded in both the condominium, apartment and serviced apartment categories. “Several high-rise residential projects were launched, reflecting a vibrant market driven by strategic developments such as the upcoming Johor Baru-Singapore Rapid Transit System Link,” she noted. — Bernama

Events, News

Malaysia Fest to Showcase Local Products in Singapore From 25 July

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SINGAPORE: The Malaysia Fest 2024 expo from 25 to 28 July at the Singapore EXPO convention and exhibition centre will showcase a variety of Malaysian food, fashion, beauty and travel products. Federal Agricultural Marketing Authority (Fama) chairman Aminuddin Zuilkipili said the fest, organised by the Agricuiture and Food Security Ministry via Fama, in partnership with Singapore-based MegaXpress International Pte Ltd, will have over 300 booths. “Fama will promote agricultural products to increase its export figure,” he said at the event’s pre-launching. It will bring over 20 tonnes of seasonal fruits and 2,000 stock-keeping units of fresh and processed products. “The unique offerings include Mokti’s Harumanis ice cream, Borneo’s tropical fruits such as crystal longan, tarap and bambangan and rare fruits such as rambai, kundang and gucil,” he said. In its seventh edition themed ‘Explore the Gems of Malaysia’, it aims to generate direct sales of RM12 million and attract 120,000 visitors, Aminuddin said. Meanwhile, the High Commissioner of Malaysia to Singapore Datuk Dr Azfar Mohamad Mustafar said the last year’s event attracted 135,000 visitors and generated RM17.8 million in sales, surpassing the organiser’s target. “Last year, for the first time we launched a business-to-business (B2B) segment; Malaysian entrepreneurs had the opportunity to meet friends in Singapore and the results were very satisfying. “Malaysia Fest continues to be a focus for Singaporeans to get Malaysian products. We hope we will be able to exceed our target this year,” he said, adding that a portion of the profit will go towards Singapore’s Al-Amin Mosque. Azfar said Malaysia Fest 2024 will feature the ‘Cashless Lah Boss’ programme, in line with the government’s initiative to promote cross-border cashless payment. Visitors need to make a minimum purchase of S$20 using DuitNow QR code to stand a chance to win either cash, holiday packages in Malaysia, or electronic goods with a total value of S$10,000 under the programme, which is in collaboration with PayNet. MegaXpress International, in a statement, said this year’s expo will feature Selangor, Johor, Penang, and Perak pavilions as well as those from Tourism Malaysia, Northern Corridor Economic Region (NCER) and Fama. Malaysian celebrities and icons including singer and businesswoman Datuk Seri Siti Nurhaliza Tarudin will also participate in the event. Other programmes in the line-up are cooking demonstrations, Islamic interactive talks and activities hosted by Al-Amin Mosque, competitions, and performances by Malaysian singers.

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