Author name: admin

Property

Demand For Residential, Commercial Real Estate Still Resilient, Says TH Properties

KUALA LUMPUR: Pilgrims Fund Board’s property unit TH Properties Sdn Bhd (THP) sees the demand for residential and commercial properties as still resilient despite various setbacks such as the Covid-19 pandemic, softer global economy and the spike in raw material prices. TH Properties board member Zarulakmar Abd Aziz said the company is optimistic that its latest property offering, the Felora and Bizcentre, will be well-received by buyers and investors due to its location, competitive prices and modern design. THP unveiled its latest developments, Felora and Bizcentre Phase 2, at the Karnival Warisan Puteri 2 in Seremban recently. Felora, a residential development, comprises 86 double-storey terrace houses with a gross development value of RM38.95 million. With prices from RM409,000 to RM659,200, Felora offers homebuyers to invest in a meticulously designed unit that combines comfort, style and quality living within the thriving Warisan Puteri 2 community. In addition to the residential offering, THP also launched Bizcentre Phase 2. The 28 units of two- and three-storey shop offices have a built-up area ranging from 2,170 sq ft to 6,868 sq ft, with prices starting from RM648,000 to RM2.33 million. Bizcentre Phase 2 aims to fulfil the demand for commercial property in the area and to cater to businesses seeking a location in a prime commercial hub. Zarulakmar said the success of previous developments in Warisan Puteri 2, such as Tierra, another double-storey terrace house project, is a testament to buyers’ trust towards THP’s products. The one-day Karnival is a celebration of community and engagement, and THP showcased its latest offerings that foster inclusive living experiences with its customers.

Investment & Market Trends

Alpha IVF Group Aims To Raise RM466.5MIL From ACE Market IPO

KUALA LUMPUR: Fertility care specialist Alpha IVF Group Bhd aim to raise RM466.5 million from its initial public offering (IPO) on the ACE market of Bursa Malaysia. The IPO exercise entails 1.45 billion shares in Alpha IVF priced at RM0.32 per share, comprising 364.5 million new shares and 1.09 billion offer-for-sale shares from eight offerors. Alpha IVF group executive director and group managing director Datuk Dr Colin Lee Soon Soo said the IPO marked the initiation of a new phase in the company’s growth strategy. He said of the targeted RM466.5 million IPO proceeds, RM116.6 million will be accrued to Alpha IVF, while the balance of RM349.9 million will be accrued entirely to the offerors. Out of the total proceeds of RM116.6 million received by Alpha IVF, RM72.8 million will be allocated to establish new IVF centres, satellite clinics, and sales representative offices as part of their expansion plan domestically and internationally. A further RM15.7 million will be allocated to expand and upgrade existing specialist centres, facilities, and corporate office, RM2.2 million for research and development (R&D). The remaining RM25.9 million is for general working capital, general corporate purposes, and defraying of listing expenses. “Since our inception, we have experienced remarkable growth, evolving from 11 staff to our current team of more than 140 staff. “From a single centre, we have expanded to operate three specialist centres, each dedicated to providing unparalleled care and expertise. “Most importantly, our hard work has resulted in the birth of over 7,000 precious babies in Malaysia and worldwide. “Through this IPO, we are looking to raise approximately RM116.6 million in total proceeds for Alpha IVF, which will help to support our capital expenditure and working capital requirements for future growth,” he said at the IPO prospectus launch yesterday. Lee said the first pillar of the growth strategy is domestic expansion, as the company aim to establish three full-fledged fertility centres in Malaysia by the financial year ending May 31, 2026 (FY26) Secondly, leveraging its success and experience, Alpha IVF intends to expand internationally by setting up additional IVF specialist centres and four satellite clinics in Indonesia. The four satellite clinics will be set-up in various cities in Indonesia as an extension of Alpha IVF specialist centre. “We plan to expand our reach by setting up another specialist centre elsewhere in Southeast Asia and two sales representative offices in China. “Finally, we plan to expand our R&D initiatives, including expanding our R&D team and purchasing laboratory equipment to aid in R&D. “Our R&D initiatives will mainly focus on technology and procedures to improve our pregnancy success rates,” Lee said. Lee said the increased R&D resources will allow Alpha IVF to stay current with the latest developments in vitro fertilisation (IVF) and help grow the business. AmInvestment Bank Bhd chief executive officer Tracy Chen Wee Keng said Alpha IVF’s entrance into Bursa Malaysia enriches the dynamics of the Malaysian healthcare landscape, presenting investors with a rare opportunity to invest in a leading player within a thriving industry. “The global demand for IVF treatment accentuates Alpha IVF’s strategic market positioning and its expansive growth potential, making its listing a pivotal asset to the vibrancy of the healthcare industry. “The strong endorsement from 8 top-tier insurance funds and renowned asset management firms in Malaysia, Singapore and Hong Kong, as cornerstone investors in Alpha IVF’s IPO, underscores the exceptional investment opportunity Alpha IVF presents. “The commitment from such esteemed financial institutions speak volumes about Alpha IVF’s promising prospects in the coming years,” she said. The IPO structure comprises an institutional offering of 1.23 billion shares to institutional and selected investors, including 607.5 million shares allocated to Bumiputera investors approved by the Ministry of Investment, Trade, and Industry (Malaysia). Among the total institutional offerings, 145.8 million are newly issued shares. The remaining 218.7 million new shares constitute the retail offering, with 194.4 million available to the Malaysian public through balloting. Additionally, 24.3 million shares are allocated to eligible directors, employees, and individuals who have contributed to the success of Alpha IVF. “Looking ahead, we see a surge in demand for IVF, driven by the increasing trend of starting a family late and government IVF incentives. “Our expansion aligns perfectly with the current landscape, allowing us to capitalise on these opportunities,” Lee said. The confidence of Alpha IVF’s management in its prospects sets the backdrop for its dividend policy. The company aims to distribute at least 60 per cent of the annual audited profit after tax attributable to shareholders to reward the shareholders. With the prospectus launched, applications for Alpha IVF’s IPO will be accepted starting Monday. Alpha IVF is scheduled to list on the ACE market of Bursa Malaysia on March 22, 2024. AmInvestment Bank is the principal adviser, sponsor, lead bookrunner, and sole underwriter for Alpha IVF’s IPO exercise.

Energy & Technology

Fueltrax Secures 28 Contracts Worth RM24MIL In Malaysia

KUALA LUMPUR: Vessel fuel management solutions provider Fueltrax recently signed 28 high-value contracts in Malaysia, totalling RM24 million, the company’s significant achievement in Southeast Asia. The deal is a positive milestone for Fueltrax in Southeast Asia, showcasing the company’s commitment to driving advancements and economic growth within the region’s maritime industry. Of these contracts, 12 vessel operators have integrated their marine operations data through FuelNettm, Fueltrax’s with Malaysian oil and gas companies involving 38 vessels. This integration utilises FuelNettm’s cloud-based platform, offering real-time data and insights into fuel consumption, efficiency, and environmental compliance. “Our accomplishments highlight our steadfast dedication to drive operational efficiency, sustainability, and economic prosperity throughout the region. “As the foremost brand for vessel fuel management system (VFMS) globally, with extensive experience managing over 1,000 vessels globally, including 38 in Malaysia, we are dedicated to providing world-class equipment, reliable technical support, and cost-effective solutions,” Fueltrax director of operations in Southeast Asia Faiz Azani said in a statement. Implementing Fueltrax’s VFMS across these 38 Malaysian fleets is expected to yield significant benefits. This investment is projected to enhance overall operational efficiency and productivity by 30 per cent, directly impacting the bottom line of Malaysian vessel operators and companies. Additionally, VFMS facilitates real-time data analysis and streamlined workflows, enabling faster and more informed decision-making. This combination of increased efficiency and better decision-making contributes to the long-term viability of the Malaysian maritime industry, positioning it for continued growth and competitiveness in the global market. “Fueltrax aims to contribute to Malaysia’s development as a leading maritime hub by promoting responsible fuel management practices. “Hence, any investors planning to have any marine business in this sector will have high confidence that value losses in poor fuel costs will impact their business cost less,” added Faiz. “These collaborations are expected to create significant economic benefits for the Malaysian maritime industry, including creating at least 100 new jobs. “These positions arise not only among companies directly involved in the contracts but across the supply chain and associated support functions, further increasing the industry’s growth and efficiency,” he said. Each comprehensive package of Fueltrax’s solutions is tailored to meet client needs, including data monitoring, support services, equipment maintenance, and efficiency enhancements. These solutions empower vessel operators to digitalise operations, optimise fuel usage, and reduce their carbon footprint through advanced fuel management technology. Features like BestSpeed and BestEconomy maximise vessel speed with minimal fuel, promoting efficient and responsible crew behaviour. Building upon its strong track record in Southeast Asia, Fueltrax previously secured contracts with ten leading vessel companies between 2017 and 2022. These partnerships solidified Fueltrax’s reputation for delivering innovative solutions and exceptional regional service. Fueltrax’s solutions align with the International Maritime Organization’s (IMO) 2050 strategy for decarbonisation, empowering vessel operators to contribute to a cleaner and more sustainable maritime future. With this success as a foundation, Fueltrax plans for further growth and expansion in Malaysia, including establishing a second Vessel Operation Center (VOC) to provide 24/7 support to clients globally.

News

Hilton Appoints Maria Ariizumi As VP, Development, South East Asia

KUALA LUMPUR: American multinational hospitality company Hilton Worldwide Holdings Inc has appointed Maria Ariizumi as vice president, development, South East Asia. Maria joins Hilton from Swire Hotels where she led efforts to set up Swire’s third party hotel development platform, with her responsibilities spanning hotel development, planning and projects across Asia Pacific, Europe and North America. During her tenure, Swire Hotels saw a doubling of the group’s hotel portfolio. She joined Hilton on March 4, 2024, based out of the Hilton corporate office in Singapore. “South East Asia holds great potential for the travel and tourism sector, and we are incredibly upbeat about the healthy momentum in travel demand and hotel development. “I am thrilled to welcome Maria to the Hilton family at this critical inflexion point and am confident that she will lead the team to new heights as we write our next growth chapter together,” Hilton senior vice president, development, Asia Pacific Clarence Tan said in a statement. Maria’s hospitality career also spans stints with Galaxy Entertainment Group, Marriott International and Deloitte Tohmatsu Consulting in hotel development, feasibility and corporate finance roles. A native of Japan, Maria will partner closely with Hilton’s existing owners and new partners to drive the company’s development strategy in Southeast Asia. This newly created role testifies to the growing importance of this dynamic region, and Maria’s time-tested track record will support Hilton’s ambition to double its portfolio here in the next three years. “It is an amazing opportunity to steer the expansion of an iconic brand like Hilton in the vibrant South East Asia region. “Hilton has established a stellar foundation here and is well respected by owners and industry watchers for its market-leading performance. “With the support of a best-in-class team, I look forward to leading and delivering on our growth ambitions in this market,” said Maria. Hilton has 57 trading properties across seven distinct brands and a pipeline of 44 properties. In recent months, Hilton celebrated highly anticipated hotel openings, such as Umana Bali, LXR Hotels & Resorts, La Festa Phu Quoc, and Hilton Saigon, each representing in-market brand debuts.

News

MYCEB Collaborates With ACMAR Marketing Xiamen To Enhance Business Events Influence In China.

KUALA LUMPUR: Malaysia Convention & Exhibition Bureau (MyCEB) has forged a strategic partnership with an international travel agent, ACMAR Marketing Xiamen, a subsidiary of the ACMAR Group. This collaboration was formalised by signing a memorandum of cooperation (MoC) between MyCEB chief executive officer Azman Tambi Chik and ACMAR Group managing director, JP, Datuk Steven Tee. “The collaboration bolsters Malaysia and MyCEB’s presence in the promising Chinese market, specifically catering to the Xiamen business community. “The MoC signed not only signifies national pride between two Malaysian entities but also a significant step towards fostering bilateral cooperation and enhancing business events opportunities in the region,” Azman said in a statement. ACMAR Group is renowned for its projects such as hotels, the Xiamen International Culture Building and more. The group also owns investment stakes in fixed assets such as commercial, residential, and other properties. With its strong foothold in Xiamen, ACMAR Group brings invaluable expertise and resources to synergise with MyCEB’s vision of promoting Malaysia as a premier and preferred destination for business events. The MoC outlines a series of joint marketing activities aimed at capturing the attention of the Chinese market, sharing market intelligence, facilitating knowledge exchange, co-developing business leads and fostering collaboration opportunities for the private sector. ACMAR Marketing Xiamen will connect MyCEB with China’s business events counterparts, streamlining communication and fostering mutually beneficial partnerships. “The MoC leverages the extensive network and insights of both organisations, with MyCEB being able to showcase Malaysia’s world-class facilities, unique culture and unparalleled hospitality. “ACMAR is excited to be part of this venture by supporting the bureau through our footprint and aiming to drive mutual growth and prosperity between Malaysia and China,” said Steven Tee. Both parties are committed to implementing innovative marketing strategies and fostering long-term partnerships to achieve their shared objectives. The collaborative efforts are expected to boost tourism and investment and strengthen cultural exchange and bilateral relations between Malaysia and China. Besides the MoC, MyCEB discussed with the Xiamen International Conference & Exhibition Centre, Chairman of Xiamen Welleast Smart City Technology Co Ltd, C&D Global Tourism Group Co Ltd and President of Xiamen Tourism Association. From these meetings, Malaysia can look forward to fostering stronger collaborations, expanding market reach, and enhancing bilateral relationships, thereby elevating business events, tourism and private sector opportunities between Malaysia and Xiamen.

News

Masteel Appoints Datuk Syed Mohamed Syed Ibrahim As Chairman

KUALA LUMPUR: Integrated steel manufacturer Malaysia Steel Works (KL) Bhd has appointed Datuk Syed Mohamed Syed Ibrahim, as the independent and non-executive chairman, effective March 1, 2024. Syed Mohamed brings over 40 years of experience leading prominent organisations across various industries, driving sustainable growth globally and in Malaysia. His expertise spans banking, real estate development, technology, and business strategy. He currently serves as the president and chief executive of Johor Corporation and chairman of JLand Group. Masteel, in a statement, said Syed Mohamed’s proven track record of driving profitability, fostering strategic partnerships, and spearheading transformational corporate enterprises positions him as an ideal leader to guide Masteel in its next growth phase. Furthermore, his emphasis on strong business fundamentals and far-sighted leadership are expected to herald a new era of dynamism for Masteel. Syed Mohamed’s commitment to sustainable business growth will be reflected positively in Masteel’s future operations and strategies as the company reinforces its position as the country’s leading ultra-low-carbon steel manufacturer, championing sustainable and environmentally responsible business practices.

Property

Iskandar Waterfront City Poised For Growth With RM4.3B Development Plan

KUALA LUMPUR: Iskandar Waterfront City Bhd (IWC) has unveiled its strategic master development plan for the next ten years, as the company is poised for significant growth with a landbank of approximately 1,000 acres holding freehold status. The company’s development pipeline includes the phased development of 146 acres, with a total gross development value (GDV) of RM4.3 billion. These developments will be strategically located near the Johor Bahru–Singapore rapid transit system (RTS) Bukit Chagar station and Johor Bharu city centre, capitalising on its proximity to key transportation hubs and urban centres. One of the flagship projects in the pipeline is Danga Rivera, a mixed waterfront development in the mature area of Permas Jaya. This project will feature shop offices, retail spaces, hotels, and service suites, with an expected GDV of RM500 million. Today, IWC signed a memorandum of understanding (MoU) with Meliá Hotels International SA, a leading hotel company from Spain, for this development. Located just 7km from the RTS, Danga Rivera’s strategic location is expected to attract investors and stakeholders. IWC spokesperson Yap Meow Hin said the company’s collaboration with Meliá Hotels International underscores its commitment to excellence and vision of transforming landscapes to enrich communities. “We are excited to partner with a global hospitality leader to bring a new dimension of luxury and service to Johor Bharu. “This is an exciting time for IWC as we capitalise on the strategic location of our land bank, which is within a 10-15 minute drive to the RTS Bukit Chagar station,” he said in a statement. Another highlight of IWC’s development plan is Tebrau Bay, a waterfront township located at the serene river mouth of Sungai Tebrau. Focused on health and wellness, this development spans 100 acres and is poised to offer quality waterfront living. Located just 15 minutes from the RTS Bukit Chagar Station, Tebrau Bay is expected to generate a total GDV of RM 3.5 billion in several phases, starting with a pilot phase of 30 acres. IWC is also developing Danga Heights, a vibrant mixed-use project focusing on retail. This development, spanning 29.3 acres, will feature 2-storey plus mezzanine shop offices in its first phase, with an expected GDV of RM330 million. The project will also include a branded hotel, office, and service apartment and is strategically surrounded by approximately 500,000 residents in the mature residential area of Kempas. Overall, IWC is confident in developing and leveraging its extensive landbank, strategically located near mature areas and the RTS station and Johor Bharu city centre. The first phase of the three key development projects is expected to generate a total GDV of RM1.8 billion by developing approximately 63 acres over the next five years.

Investment & Market Trends

MARC Ratings Sees Malaysia’s GDP Growth Of 4.2PC For 2024

KUALA LUMPUR: MARC Ratings Bhd has forecasted a firmer gross domestic product (GDP) growth for Malaysia at 4.2 per cent in 2024, reiterating its view of an anticipated recovery in the tourism and external sectors. The rating agency said these sectors will provide a much-needed boost for the services and manufacturing sectors. “Furthermore, the investment outlook for Malaysia is also expected to remain positive in 2024,” MARC said in a statement. Malaysia registered a slower GDP growth of 3.0 per cent in the fourth quarter (Q4) of 2023 as growth in the services sector moderated to 4.2 per cent, and the manufacturing sector remained tepid at 0.3 per cent. Consequently, the full-year 2023 GDP growth stood at 3.7 per cent from 8.7 per cent recorded in 2022. On the local currency, MARC said the ringgit continued to weaken against the greenback in February, partly attributable to the broad dollar strength amid the prospects of a higher-for-longer interest rate environment. Nevertheless, it said the ringgit has generally underperformed its regional counterparts against the dollar. Thus, the ringgit’s weakness highlights the need for robust structural reforms to enhance Malaysia’s capabilities in foreign currency accumulation, MARC noted. On bonds, MARC said the Malaysian Government Securities (MGS) market moved in tandem with the rise in US Treasury yields following the market’s pushback against the earlier expectations of more aggressive Fed rate cuts amid positive US economic data. “Going forward, the shifting interest rate trajectory in advanced economies and the ringgit’s weakness may lead to extended periods of volatility in the local bond market,” MARC noted. February saw a notable upswing in the domestic corporate bond market, witnessing a drop in yields for top-rated bonds across various categories. The buoyancy in the corporate bond market, coupled with the inflow of funds into the equity market, hints at an overall optimistic outlook among investors. Notably, the month witnessed a simultaneous decrease in corporate bond yields and an uptick in MGS yields, leading to a contraction in the spread between these well-rated corporate bonds and MGS, MARC said. Moving on, MARC said Malaysia’s headline inflation remained steady at 1.5 per cent in January. “We expect inflation to rise to 3.0 per cent in 2024, given the gradual rollout of subsidy rationalisation and other new tax measures, anticipated volatilities in commodity prices, and pressures from firmer domestic demand. “Given the upside risks to inflation, uncertain Fed interest rate trajectory, volatilities in the ringgit and ongoing geopolitical tensions, Bank Negara Malaysia will likely adopt a data-dependent approach and hold the Overnight Policy Rate (OPR) unchanged in its next Monetary Policy Committee meeting on March 7,” MARC said.

News

84PC Of Malaysians Plan To Increase Spending During Ramadan, GrabAd Survey Show

KUALA LUMPUR: GrabAds, the advertising arm of Grab, is expecting a surge in customer spending patterns during the upcoming Ramadan. According to its Ramadan-Raya Insights 2023/2024 report, Grab said 84 per cent of respondents surveyed expressed plans to increase their spending during Ramadan, particularly on food and beverage, fashion and apparel, and personal healthcare. Grab Malaysia head of marketing Hassan Alsagoff said as Ramadan approaches, we anticipate a surge in celebration and consumer activity, especially among families in Malaysia. “This presents an opportunity for brands to connect meaningfully online with the right audiences. “By planning early Ramadan campaigns that leverage data insights and tailored strategies, brands can enrich their customers’ celebrations with engaging communication that serves personalised experiences. “This approach not only captures attention but also builds lasting connections with existing and new audiences,” he said in a statement. Findings on the report showed that 76 per cent of Malaysians anticipate amping up their digital activities during the festive season, with 62 per cent planning to rely heavily on Grab services like food deliveries and payments. Further, an 84 per cent of respondents favouring breaking their fast with loved ones and 94 per cent willing to spend more on high-quality products for their families and homes, merchants can consider offering tailor-made for family gatherings with flexible group menus offering add-ons like drinks and desserts. The report also noted that 85 per cent of surveyed users, including car owners, prefer Grab’s convenience during festive periods, leading to a 9 per cent surge in weekly ridership compared to pre-Ramadan. This trend peaks further in the weeks leading up to Hari Raya, with airport trips steadily increasing from week three onwards. Furthermore, families often reunite in their hometowns, so the roads usually get busy. Recognising these behavioural patterns, brands have a golden window to engage early adopters. Grab report noted that by launching strategic in-car or car-wrap campaigns one to three months before Ramadan, they can leverage this captive audience, raise brand awareness, and capture a loyal customer base before the festive fever takes full swing. “We’re committed to helping our merchant partners, especially the micro, small and medium enterprises (MSMEs), plan their Ramadan campaigns effectively. “We encourage them to leverage the insights we share in the report so they can foster brand loyalty, drive sales, and establish a strong presence in the hearts and minds of consumers,” Hassan said. GrabAds empowers brands and marketers, including small and medium-sized merchants, to run impactful campaigns through its super-app ecosystem. The platform offer a self-serve ad service, an ad creation tool that empowers merchant partners to build their own ad image banners and search ads and track ad performance in real-time.

News

Yong Tai, Singapore-Based Ebenex Group Collaborate Tto Promote Events At Encore Melaka Theatre

KUALA LUMPUR: Main market listed Yong Tai Bhd’s (YTB) wholly-owned subsidiary, PTS Impression Sdn Bhd (PISB), signed a strategic collaboration agreement with 828 Asia Pte Ltd, a subsidiary of the Singapore-based Ebenex Group. This partnership, formed on February 28, 2024, has been established to spotlight the iconic Encore Melaka Theatre, a cornerstone within YTB’s portfolio that showcases innovation and cultural revelry. Under the terms of the collaboration agreement, PISB will provide 828 Asia with periodic access to the Encore Melaka Theatre and the necessary expertise, technical support, and manpower. YTB’s chief executive officer Datuk Wira Boo Kuang Loon said 828 Asia’s expertise in event organisation combined with YTB’s iconic Encore Melaka Theatre will create a platform for delivering exceptional entertainment experiences to visitors from around the world. “This partnership aligns with our vision to be at the forefront of innovative tourism developments and reinforces our commitment to cultural and economic growth in Melaka,” he said in a statement. PISB, the owner and operator of Encore Melaka Theatre, has established itself as a leading landmark attraction in the city’s waterfront area. Recognised as a jewel in the crown of Melaka, the theatre has captivated international and local tourists with its unique offerings and immersive experiences with its 360-degree rotating platform and approximately 2,000 seats. 828 Asia, a prominent event and concert organiser based in Singapore, brings expertise and experience to the collaboration. With a strong presence in the industry, 828 Asia is well-positioned to market, promote, and organise a series of events within the Hatten City @ Melaka and Encore Melaka Theatre. The collaborative efforts between PISB and 828 Asia aim to capitalise on the immense business potential and development opportunities presented by hosting events in the Encore Melaka Theatre. By leveraging the unique features and capabilities of the theatre, the partnership seeks to create unforgettable experiences for audiences and further enhance Melaka’s reputation as a premier destination for world-class entertainment. The first event from this collaboration is expected to occur in April 2024, beginning a series of exciting cultural and entertainment initiatives. This collaboration is expected to contribute positively to YTB by diversifying its portfolio and enhancing its position in the tourism and cultural sectors. “We are excited about the immense potential of this collaboration,” said David Toh, the director of 828 Asia. “Together with PISB, we look forward to delivering exceptional events that will captivate audiences and contribute to Melaka’s cultural and entertainment landscape,” he said.

Scroll to Top

Subscribe
FREE Newsletter