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News, Property

Mah Sing to Acquire DBKL Land for RM108 Mil to Develop M Aspira

KUALA LUMPUR: Mah Sing Properties Sdn Bhd has entered into a conditional sale and purchase agreement with Datuk Bandar Kuala Lumpur (DBKL) for a 2.50-hectare parcel of prime land in Taman Desa for RM108 million. Meanwhile, Mah Sing Group said the proposed development on the land is expected to have an estimated gross development value (GDV) of RM1.01 billion, which will proceed in 2 phases. The project, named M Aspira, will comprise approximately 1,600 residential units across 1.50 hectares and an additional 800 units of Residensi Madani on a one-hectare site within Taman Desa, located off Jalan Klang Lama and the East-West Link Expressway. Mah Sing Group also said in a statement that the acquisition is not expected to materially impact the group’s earnings for the fiscal year ending 31 December 2024, but it is anticipated to contribute positively in the future, pending completion in the first half of 2025 (1H25). Additionally, Mah Sing Founder and Group Managing Director, Tan Sri Leong Hoy Kum highlighted the development’s appeal to urbanites, first-time homebuyers and international investors – blending urban vibrancy with suburban tranquility. “This is one of the last pieces of development land in this mature location in Kuala Lumpur and we believe there is strong pent-up demand for the products that we have planned. “The surrounding neighbourhoods have mainly older residential projects and it is timely for us to offer well-designed homes with a good concept and facilities for the upgraders as well as first-time homebuyers from the surrounding established townships,” he added. — BERNAMA

Investment & Market Trends, News

Banking Industry Well-Positioned to Progress with Steady Domestic Fundamentals

KUALA LUMPUR: Alliance Bank Malaysia Bhd is optimistic that the banking industry is well-positioned to progress and navigate the potential headwinds with steady domestic fundamentals and an outlook that remains conducive to sustainable economic growth. In a joint statement by Chairman Ahmad Mohd Don and Group Chief Executive Officer Kellee Kam, Alliance Bank will continue delivering on commitments to putting the customers first with greater value propositions and innovative digital transformation, while remaining adaptable to the changes within the operating environment to fulfil growth ambitions under Acceler8 strategy. “Through the Acceler8 strategy, we diversified our portfolio, gaining access to new markets and consumer segments. “In the financial year 2024 (FY24), we successfully grew the overall bank loan market share from 2.41% in FY23 to 2.58% in FY24, driven by higher loan volumes in the small and medium enterprises (SME), consumer and corporate segments,” they said in the bank’s annual report 2024. They also said the bank focused on efforts to tap into new market segments and business verticals, regional expansion, championing sustainability, as well as driving synergies and value creation through digital innovations and partnerships. On becoming the regional champion, they noted that the bank focused on strengthening its market presence and reach across the country, particularly in key economic growth corridors such as Penang and Sarawak in FY2024. “By becoming the preferred ‘Bank for Life’ to consumers, businesses and local communities that we serve, we recorded strong growth of 48% year-on-year (YoY) in deposits and 18% YoY in loans across these states,” they said. They also said Alliance Bank will continue reinforcing its core business segments in these geographies, with Johor being added as one of the key focus areas in FY25. “Our regional expansion plans have been progressing successfully with the opening of new branches in Saradise, Kuching and soon at Jalan Kelawai, Penang.” they said. They said the bank will in FY25 continue to outfit and energise its branch network with the bank’s refreshed brand outlook to fortify the Alliance Bank’s positioning. — BERNAMA

News, Property

Agrobank Allocates RM200 Mil for Housing Financing Scheme for Felda Settlers

KUALA LUMPUR: Agrobank has allocated RM200 million for a financing scheme to help eligible Federal Land Development Authority (Felda) settlers own their first homes under the Affordable Homes Programme-i. In a statement, the bank said the scheme is a testament to Agrobank’s dedication to empowering the settler community. President and Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin said applications for the financing facility have been promising, totalling RM137 million to date. “Agrobank has approved around RM59 million, proving our commitment to helping Felda settlers to own a home,” he said. The strategic collaboration between Agrobank and Felda began in 2020 with positive results in empowering the well-being of settlers. Through the Felda New Generation Housing Financing Programme, Agrobank not only provides a large allocation for the Affordable Housing Programme-1 but also improvises its financing terms for eligible applicants. The collaboration was further strengthened in 2021 with the RM100 million Settler Development Programme (PPP) that aims to improve the socio-economic status of settlers holistically. — BERNAMA

News

Cutting red tape drives growth of EV charging stations – Tengku Zafrul

IPOH: The number of electric vehicle (EV) charging stations nationwide increased by 12.5 per cent as of June 25, compared to the first quarter of this year, driven by the government’s efforts to reduce bureaucratic hurdles in the installation process. Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said that previously, approvals involved numerous agencies and ministries, including the Energy Commission, local authorities, and the Fire and Rescue Department. “The increase over the past two to three months has been significant. Initially, there were approval challenges, but meetings chaired by Deputy Prime Minister Datuk Seri Fadillah Yusof successfully streamlined the process. “We now have a one-stop centre to speed things up,” he said after officiating the 2024 Ipoh Barat UMNO Division Delegates Meeting today. Tengku Zafrul added that the government is maintaining its target to have 10,000 EV charging stations nationwide, and raised the target for Direct Current (DC) Fast Charging units from 1,000 to 1,500 this year. “While DC chargers are costlier to install, they are essential due to high demand from the public,” he said. The Low Carbon Mobility Action Plan 2021-2030, announced in 2020, aims to establish 10,000 EV chargers by 2025, comprising 9,000 Alternating Current (AC) chargers and 1,000 DC chargers. According to the Ministry of Investment, Trade, and Industry (MITI), 2,585 EV chargers have been installed nationwide as of June 25, excluding the Federal Territory of Labuan. — BERNAMA

Investment & Market Trends, News, Property

Holistic Approach to Public Transport Needed, Consultant Says

KUALA LUMPUR: All public transportation stakeholders have a collective responsibility to increase passenger numbers, industry experts said. The Auditor-General’s report on MRT1 and MRT2 recently highlighted the need for a holistic approach, strategic policy alignment and genuine commitment from all stakeholders to transform the MRT into a reliable and attractive transport option, transport consultant Wan Agyl Wan Hassan said. “Without reliable and convenient access – buses, walking, cycling and other modes of transport – potential passengers are left stranded. “This fundamental flaw in the current transport ecosystem severely limits the MRT’S potential to attract and retain users,” Wan Agyl said, adding that the ongoing struggle with first- and last-mile connectivity reveals a deep-seated misunderstanding or neglect of passenger needs. “Even if first-mile solutions are marginally addressed, the last-mile connectivity often remains a nightmare. “It is a collective failure involving local authorities and the ministries of housing and local government, works and transport. This fragmented responsibility leads to a lack of coherent solutions,” he said. Meanwhile, an industry source familiar with the MRT project said it is unfair to assign blame wholly to MRT Corp. He said other unexpected factors have Contributed to missed passenger targets for the MRT system – which is designed with increasing demands over the next 30 years in mind – primarily Covid-19 and delays in parallel developments that were outside their control. “The ridership targets that were established took into account an increase in commuters arising from real estate developments along the alignment such as Kwasa Land, TRX city, Bandar Malaysia, Merdeka 118 and others. “The delay or postponement of these developments alongside other public amenities such as bus stops and pedestrian walkways have inevitably contributed to the non-achievement of the target,” said the source. Meanwhile, Wan Agyl pointed to Malaysia’s car culture, with public transport failing to provide a reliable alternative. “The overcrowded and uncomfortable conditions during peak hours deter potential users. “Without a nuanced policy that balances car usage with the benefits of public transport, passenger numbers will continue to stagnate,” he said, adding that feeder services for rail transport are ‘woefully inadequate’. “Passengers face unreliable bus schedules, traffic congestion, and a complete lack of real-time tracking, which makes planning a journey an exercise in frustration,” he said. Wan Agyl said government policy contradictions are “glaring” with the national transport plan pushing public transport use, while the national automotive policy promotes car production and ownership. “This incoherent policy framework undermines efforts to boost passenger numbers. Moreover, the lack of supportive parking policies further disincentivise public transport use, leaving the entire system at odds with its stated goals.” Wan Agyl described the government’s approach to public transport as a commercial enterprise – in contrast to an investment that delivers significant social and economic benefits – as ‘fundamentally flawed’. “This shortsighted perspective hampers the development of a robust and effective public transport system,” he said. Wan Agyl pointed out that the MRT System remains incomplete, with the MRT3 section still under construction. As such, he said, neither MRT1 nor MRT2 has reached its full potential. Meanwhile, the source said steps to reach passenger targets, such as government pro-public transport policies, are critical to ensure that push-and-pull consumption factors can be successful. “Targeted fuel subsidies, congestion charges according to zones and entry times, private vehicle parking rates in the capital area are increased, and so on. On Thursday, the 2024 auditor-general’s report revealed that MRT1 and MRT2 had failed to meet their targets in terms of daily passengers, number of trains in operation and frequency during peak hours. The report said that for MRT1, the average daily passenger percentage against the projected targets ranged from 10.8% to 37.4% between 2017, when the service became fully operational, and 2023. — BERNAMA

Events, News

Alibaba.com Launches Inaugural KEL Award, Malaysians Encouraged to Participate

KUALA LUMPUR: Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce announced the inaugural Key E-commerce Leader (KEL) Award, designed to honour distinguished e-commerce suppliers within the South Asia and Southeast Asia regions. Alibaba.com said in a statement that the KEL Award, set to be launched this week and run until November this year will feature eligible suppliers from seven countries namely India, Indonesia, Malaysia, Pakistan, Singapore, Thailand and Vietnam. “These suppliers will compete in national rounds within their respective markets from August to October. The 10 best performers from the national round will take the stage in the finale to be held in Vietnam in November, where 3 of the most outstanding contestants among them will be crowned the winners of the KEL Award,” it said. It said contestants are expected to showcase their use of Alibaba.com in developing and expanding their export ventures, along with the strategies they employ to stand out in the global market. “Evaluations of the KEL Award will be based on the substance and creativity of their presentations, effectiveness in communication and personal brand portrayal, in-depth understanding of the Alibaba.com platform, and adeptness in fielding questions and articulating plans to impact and inspire others within the e-commerce community. “The competition is open to owners, key personnel and managers of companies selling on Alibaba.com with a minimum rating of two stars and an active presence on the platform for at least six months,” the statement said. Alibaba.com added that the KEL Award aims to bring together top-notch suppliers across the region and foster mutual learning and engagement and offers a stage for participants to expand their influence within their community of global buyers and suppliers, enhancing their visibility and opening doors to collaborative community of global buyers and suppliers, enhancing their visibility and opening doors to collaborative opportunities. “Contestants will stand a chance to gain access to Alibaba.com’s expert-led training sessions designed to bolster their operational proficiency on the platform as well as develop their soft skills critical to leadership, public speaking and team management. “Outstanding suppliers in the competition will be entitled to exclusive benefits including enhanced product showcase slots and keyword advertising bonuses to boost their products’ exposure on Alibaba.com,” it said. Meanwhile, Alibaba.com Head of South and Southeast Asia, Roger Luo said the KEL AWard aims to serve as a vital platform for high-calibre small and medium-sized enterprises (SMEs) on the platform to showcase their business acumen and innovation while fostering cross-market collaboration and learning. “By spotlighting the success stories of the contestants, we aspire to motivate countless other SMEs engaged in global trade to reach new heights of success on the international stage,” he said. The KEL Award’s top 3 contestants will receive the additional award of a sponsored “Dream Trip” to Alibaba.com’s headquarters in Hangzhou, China. All winners from the country round will also be appointed as Alibaba.com lecturers, gaining opportunities to impart their insights and experiences with fellow suppliers from the South and Southeast Asia region. Those who are interested can register from now until late July this year at https:/survey.alibaba.com/apps/zhiliao/g9lw8Uien. — BERNAMA

ESG, Events, News

KLPC Concludes Highly Successful National Polo Tournament, the Polo Fiesta 2024

KUALA LUMPUR: The Kuala Lumpur Polo Club (KLPC) announced the conclusion of the highly anticipated KLPC National Polo Tournament, the Polo Fiesta 2024.   The 3-day event held from 12 to 14 July, celebrated the sport of polo and showcased a spectacular array of equestrian competitions, including high-goal polo matches, dressage and showjumping. Polo Fiesta 2024 managed to attract elite players and teams from across the nation and overseas, underscoring KLPC’s reputation as the premier destination for polo and equestrian sports. The tournament featured high-goal polo matches that captivated audiences with thrilling displays of skill, strategy and sportsmanship, aside from an array of activities and entertainment available at the location. Featuring various categories of dressage and showjumping, the event highlighted the elegance and precision of these disciplines, where participants of all ages and skill levels were able to demonstrate their dedication and passion. The event emphasises community engagement and inclusivity, with support from the Ministry of Youth and Sports, the Equestrian Association of Malaysia (EAM) and the Royal Malaysian Polo Association (RMPA), reflecting the collective effort to promote polo and equestrian sports in Malaysia. At the same time, the KL Academy of Polo (KLAP) played a significant role in nurturing future polo stars and encouraging greater accessibility and participation in the sport from the wider public. The academy plays a vital role in identifying and nurturing young talent, providing them with the training and resources needed to excel in the sport. This commitment to developing homegrown talent ensures that Malaysia remains competitive on the international polo stage, fostering a new generation of skilled and dedicated players. The event also showcased Riding for the Disabled Association (RDA) Malaysia, demonstrating KLPC’s commitment to inclusivity and the therapeutic benefits of horseback riding for differently-abled individuals. “The success of the Polo Fiesta 2024 would not have been possible without the generous support of our partners and sponsors. Special thanks are extended to the Minister of Youth and Sports, Hannah Yeoh for her continued support of the sport. “We are also grateful for the support of the EAM, RMPA, Yayasan Kebajikan Atlet Kebangsaan (YAKEB), PDRM, Rakan Muda, KLAP, RDA and One Corsa,” KLPC said in a statement. Celebrating Polo and Equestrian Excellence The high-goal polo matches were the major highlight of the tournament where a mix of international and local players brought an exceptional level of skill and excitement to the field, showcasing their horsemanship, strategy and teamwork in a series of encounters. Additionally, the low-goal polo matches saw the participation of the Royal Malaysian Police (PDRM) Polo Team, La Familia, KL Academy of Polo (KLAP) KLPC, Tyrants Polo and One Corsa/Indrapura, which played a crucial role in fostering the development of amateur players by allowing them to compete alongside seasoned professionals. The dressage competitions included categories such as Preparatory, Preliminary, Novice and Elementary where riders exhibited their horses’ training and discipline. Each performance was judged on precision, fluidity and harmony between horse and rider, captivating the audience with the grace and poise of the equestrian athletes. In the showjumping arena, riders navigated the challenging courses designed to test their agility and speed. Categories ranged from 40-50cm jumps to the more demanding 115cm jumps, with the team challenges providing an extra tinge of excitement by fostering camaraderie and team spirit among the participants.

Investment & Market Trends, News

Analysts Bullish on Banking Sector Amid Economic Optimism

KUALA LUMPUR: Kenanga Investment Bank Bhd has maintained its ‘overweight’ call on the banking sector, buoyed by improved economic prospects driven by infrastructure projects and investments. In a note, the investment bank said market tailwinds such as ongoing loan growth, gross domestic product improvement and better margin retention, are expected to continue overshadowing industry headwinds like inflationary pressures and a weaker ringgit. “We believe this will likely result in fewer challenges to the sector’s resilience. The sector remains appealing due to attractive dividend yields of six to seven per cent on most stocks, coupled with lower inherent sector volatility compared to other industries,” it said. Kenangas top picks for the third quarter of 2024 include CIMB Group, which has achieved a return on equity of approximately 11% and aims to sustain this growth long-term with a strengthened presence in both local and regional markets. Additionally, the research firm said CIMB boasts a dividend yield nearing mid-6% levels, the highest among its top peers. RHB Bank is also favoured for its expected leading dividends of 7% to 8% and the potential public entry of its associate, Boost Bank, which could attract significant interest in the near term. For small-cap banks, Alliance Bank Malaysia remains a favourite due to its solid fundamentals comparable to larger peers. Meanwhile, MIDF Amanah Investment Bank maintains a ‘buy’ call on Public Bank with an unchanged target price (TP) of RM4.78 as of 28 June 2024 when the stock price stood at RM4.02. The firm cites improving dividend payouts, anticipated major writebacks in the financial year 2024, as well as SMEs’ loan growth as supporting factors. Similarly, MIDF Research maintains a ‘buy’ call on Hong Leong Bank with an unchanged TP of RM21.38, with the stock priced at RM19.20 on 28 June 2024 noting its strong cost-to-income ratio and robust asset quality. Although HL Bank’s associate, Bank of Chengdu (BoCD) is expected to see moderated earnings, it remains a solid growth driver, MIDF said. Meanwhile, Maybank Investment Bank Bhd (Maybank IB) said the industry loan growth moderated to 5.8% in May 2024 from 6.1% year-on-year in April 2024, aligning closely with their full-year forecast of 5.5%. Maybank IB maintains a ‘positive’ outlook on the sector and recommends buying shares of AMMB Holdings, CIMB Group, Alliance Bank, Public Bank, Hong Leong Bank and Hong Leong Financial Group, in that order of preference. — BERNAMA

News

Solarvest Appoints Daniel Ruppert as Chief Investment Officer to Drive Investment Strategies

KUALA LUMPUR: Regional clean energy expert, Solarvest Holdings Berhad (“Solarvest” or the “Group”) has today announced the appointment of Mr. Daniel Ruppert as its Chief Investment Officer, effective 01 July 2024. This appointment reaffirms the Group’s dedication to advancing its investment roadmap in the clean energy sector, both geographically and vertically. As part of its five-year plan, Solarvest aims to achieve 1GW of clean energy assets through greenfield and brownfield investments across Southeast Asia. This strategic appointment is expected to accelerate the Group’s overseas business expansion, further strengthen Solarvest’s position as a leading clean energy player, and drive innovation in sustainable solutions. Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong  said, “In early 2022, we’ve introduced a 5-year strategic roadmap with an overarching goal to spark exponential growth in the renewable energy industry through EPCC, asset ownership, and the development of clean energy ecosystem. To accelerate this mission, we are delighted to welcome Mr. Daniel Ruppert as our new Chief Investment Officer. Daniel will play a major role in accelerating Solarvest’s mission to lead the clean energy transition regionally and to deliver sustainable growth across various verticals. With his deep knowledge and active involvement in the sustainable energy industry, he is a valuable addition to our team, poised to lead our investment initiatives.” Mr. Ruppert brings over 15 years of experience in investment banking and business management, with a notable track record in the Technology, Media, and Telecommunications (“TMT”) and energy sectors. His expertise will be instrumental in driving Solarvest’s investment strategies and accelerating its growth trajectory. Newly appointed Chief Investment Officer, Mr. Daniel Ruppert said, “We are in a very exciting period where the Energy Transition propels fundamental progress in zSoutheast Asia. I am honoured to be a part of Solarvest, playing a role in driving this change. We are intending to diversify beyond our current solar pipeline of 6.1 GWp with various clean energy infrastructure investments. For our investment strategy, we will be welcoming institutional and impact investors to join our expansion journey and participate in the financial returns. We will also pursue co-investment alliances, mergers and acquisitions, and joint ventures. With the Group’s proven track record in solar, Solarvest is ready to evolve into a broader energy infrastructure player in ASEAN.” As Chief Investment Officer, Mr. Daniel Ruppert’s role includes clean energy asset acquisitions, portfolio management, risk management, and strategic capital allocation. He is currently looking for immediate investment opportunities for various clean energy technologies across the ASEAN region. This encompasses solar, wind, hydropower, biogas/biomass, energy storage, energy efficiency and EV ecosystem.

News, Property

SSBB Secures RM315 Mil Turnkey Project in Kuala Lumpur

KUALA LUMPUR: Southern Score Builders Bhd’s subsidiary, Southern Score Sdn Bhd (SSSB), specialising in construction management for high-rise residential buildings and civil infrastructure, has secured a significant RM315 million contract from Smart Advance Resources Sdn Bhd (SARSB). This contract appoints SSSB as the turnkey contractor for the development of three residential apartment blocks in Mukim Setapak, Kuala Lumpur. The project includes: – Block A: 198 free-cost residential units spanning levels 8 to 36 – Block B: 358 free-cost residential units spanning levels 8 to 37 – Block C: 238 affordable housing units spanning levels 8 to 37 – Facilities on level 8: 1 facility floor and a swimming pool – Podium car park: 8 floors – Other features: 1 guard house and 1 Tenaga Nasional Berhad Stesen Suis Utama 11kV. SSBB Executive Director and CEO, Gan Yee Hin, expressed optimism about the project, stating, “This RM315 million contract marks our second win this year, adding to a total of RM933.2 million secured in 2024. With our outstanding order book standing at RM1.4 billion, SSBB anticipates robust earnings over the next few financial years. Our active participation in tenders, both in public and private sectors, underscores our confidence in future growth opportunities.”

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