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News, Property

Sunway Velocity 3 Preview: RM 1.28 Billion Integrated City

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KUALA LUMPUR: The Master Community Developer, Sunway Property, has launched its sales gallery for its latest Signature Home, Sunway Velocity 3, and will begin showcasing the initial phase of development on May 4. Following the success of Sunway Velocity and Sunway Velocity TWO, where all residential units were sold out, and both commercial units are fully occupied, Sunway Velocity 3 is situated in Kuala Lumpur. Phase 1 of the project spans 3.43 acres, housing two blocks of serviced residences with an estimated gross development value of RM 1.28 billion. This development will be interconnected with Sunway Velocity Mall. Chong Sau Min, CEO of Sunway Property Central and Northern Region, highlighted that Sunway Velocity 3 is designed to cater to various demographics in Kuala Lumpur, including working adults, young professionals, commuters, small families, first-time homebuyers, and investors. Connected to Sunway Velocity and Sunway Velocity TWO via a link bridge, Sunway Velocity 3 offers seamless access to lifestyle amenities such as Sunway Velocity Mall, Sunway Medical Centre Velocity, Sunway College @ Velocity, and more. It is directly linked to MRT & LRT stations and strategically located near major highways. With its proximity to the TRX Financial Hub and unique built-in features like smart door locks and sub-meters for energy monitoring, Sunway Velocity 3 is seen as a lucrative investment opportunity. The development incorporates Sunway Property’s sustainable design philosophy (SDDA), ensuring features that promote sustainability, innovation, health, wellness, and community experience. Sunway Velocity 3 offers units with 2 to 3+1 bedrooms ranging from 721 sq. ft. to 1,076 sq. ft., designed to maximize natural lighting and ventilation. It also features express ramps for easy access to multi-level car parks and 24-hour security. Buyers can take advantage of the Signature Series 2024 campaign until June 30, 2024, featuring attractive deals and experiences for homebuyers.

Energy & Technology, News

Renuka Sharma Promoted to Director of Energy Solutions APAC at BayWa r.e.

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BANGKOK: Renuka Sharma has been promoted to Director of Energy Solutions for the Asia-Pacific (APAC) region at BayWa r.e., a global renewable energy developer and service provider. This promotion recognizes Renuka’s outstanding leadership and her significant contributions to the company’s growth and influence in renewable energy. With more than 18 years of experience spanning various industries, Renuka has consistently demonstrated her ability to navigate complex projects and drive the energy transition forward. Previously, she served as Managing Director of BayWa r.e. Thailand, leading initiatives to promote renewable energy adoption in Southeast Asia. In her new role, Renuka will be responsible for guiding the strategic direction and operational performance of BayWa r.e.’s Energy Solutions business throughout the APAC region. Drawing from her extensive experience with companies like SunEdison and Brookfield Renewables, Renuka is well-positioned to foster innovation and sustainable growth within the organization. Reflecting on her promotion, Renuka remarked, “I am deeply honoured and excited to take on this new role at BayWa r.e. Our region is at a pivotal moment in the energy transition, and I am committed to leveraging our collective strengths to drive positive change and deliver sustainable solutions for our customers and communities.” Renuka, who holds degrees in Law and Russian, as well as an LLM in Banking and Finance Law from Kings College, London, is also a strong advocate for workplace diversity. Daniel Gaefke, Global Director of Projects & Executive Board Member at BayWa r.e., emphasized his confidence in Renuka’s leadership to drive the company’s energy transition objectives in APAC. BayWa r.e.’s Energy Solutions team has been active in Southeast Asia since 2019, delivering projects with a combined capacity of nearly 100MW for notable corporations in Thailand, Vietnam, Malaysia, and more. Their recent partnership with SUSI Partners underscores their commitment to advancing large-scale rooftop PV projects with major C&I corporations.

News, Property

IRDA Sets RM636 Bil Investment Goal to Place M’sia as One of Top 30 Global Economies

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KUALA LUMPUR: The Iskandar Regional Development Authority’s (IRDA) target to achieve cumulative investments of RM636 billion by 2023 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness. Prime Minister Datuk Seri Anwar Ibrahim said that during the same period, IRDA is also aiming for a gross domestic product (GDP) growth rate of 5.5-6.5% and a GDP per capita of RM58,800. “I believe that the growth targets for Iskandar Malaysia will also be driven by initiatives such as the Johor-Singapore Special Economic Zone (JS-SEZ) and the Forest City Special Financial Zone,” he said in a statement on X. During the 32nd IRDA Members’ Meeting that the Prime Minister chaired, the future direction of the Corridor Authority was examined, along with the coordination of the Iskandar Malaysia Comprehensive Development Plan III (2022-2023) under the MADANI Economy agenda. “The meeting also discussed strategic initiatives to improve the Iskandar Malaysia Investment Service Centre and enhance socio-economic development through equitable job matching,” said Anwar, who is also the Finance Minister. He added that this is in line with the government’s decision to restructure the country’s investment promotion agencies, starting with the alignment of function and roles of investment-related regional economic corridors. The meeting was also attended by Johor Menteri Besar Datuk Onn Hafiz Ghazi; Economic Minister Rafizi Ramli; and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. — BERNAMA

Investment & Market Trends, News

ATX Semiconductor to Boost Investment in Melaka to RM952 Mil

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MELAKA: ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka, over the next five years for its second-phase business expansion. Chief executive officer Chris Hsu said the company has already invested more than US$55 million (RM258 million) in the group’s inaugural manufacturing facility outside of China, in Free Trade Zone III, Batu Berendam here. Hsu added that production is slated to commence in the first half of 2026. “The new facility has initiated manufacturing activities and will expand production capacity to better serve customers in Malaysia and surrounding regions,” he said during a press conference following the opening ceremony of ATX Semiconductor (Melaka) Sdn Bhd here today. Hsu highlighted the potential for job creation, with over 2,000 jobs expected to be generated in the coming year. He emphasised the positive impact on the economy and employment opportunities in Melaka as well as the facilitation of technology transfer and talent development between China and Malaysia. The event was also attended by Melaka State Women’s Affairs, Family Development and Welfare Committee chairman Datuk Kalsom Nordin. Hsu commented on ATX Group’s strong presence in China, with leading packaging and test solutions, and noted that the new facility in Melaka would leverage this expertise. “ATX currently operates six manufacturing plants worldwide, with five in China and one in Melaka. “This plant marks not only the first ATX Semiconductor facility in Malaysia but also the first ATX manufacturing plant outside China,” he added. Hsu added that ATX’s products and services cater to various industries, including communication, automotive, consumer, industrial, high-performance computing and medical sectors. – BERNAMA

Energy & Technology, News

Meta Bright Enters Solar Supply Agreement to Power Hospitality Operations

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KUALA LUMPUR: Meta Bright Group Berhad (“MBGB”), in its ongoing commitment to sustainable and eco-friendly energy solutions, announced today that its wholly-owned subsidiary, FBO Land (Serendah) Sdn. Bhd. (“FLSBB”), along with Doople Tech Sdn Bhd (“Doople”), has signed a solar supply agreement with Cherengin Hills Sdn. Bhd. (“Cherengin Hills”). This agreement represents a strategic step towards enhancing sustainable practices in the hospitality industry and supporting Malaysia’s national energy objectives. According to a filing with Bursa Malaysia, FLSBB will oversee the installation, maintenance, and operation of a solar photovoltaic system at Cherengin Hills’ properties in Pahang. This system will supply all net electricity output for 21 years from the start of operations. Cherengin Hills, primarily engaged in hotel, motel, and holiday camp operations, stands to benefit from reduced energy expenses and a diminished carbon footprint, while FBO Land aims to leverage the carbon credits generated by the system. This collaboration follows MBGB’s recent partnership with Doople Tech Sdn. Bhd., announced on 19th April 2024, which focused on renewable energy ventures. By combining Meta Bright’s investment capabilities with Doople Tech’s operational expertise, MBGB is eager to explore targeted opportunities in solar energy initiatives within the hospitality sector. This marks MBGB’s initial entry into solar solutions tailored for hospitality, with intentions to further expand in this field. Given the hospitality industry’s strong recovery post-pandemic, driven by rising travel demand and a renewed emphasis on sustainable practices, the timing is ideal for introducing renewable energy solutions. Mr. Derek Phang Kiew Lim, Executive Director of Corporate and Strategic Planning at Meta Bright, commented, “Cherengin Hills is taking a commendable step towards sustainability, and we are pleased to facilitate this transition. By harnessing solar energy, we contribute positively to the environment and demonstrate the economic viability of green initiatives in the hospitality sector.” “MBGB’s venture into renewable energy underscores a broader strategy of responsible corporate stewardship and reflects the Group’s forward-thinking approach in aligning business operations with global sustainability trends,” Mr. Derek Phang added. The partnership with Cherengin Hills signifies another significant achievement for MBGB as it continues to strengthen its position as an innovative player in Malaysia’s business landscape. With a focus on long-term sustainability and growth, MBGB remains committed to leading the way in eco-friendly business practices. MBGB is pleased to announce that the completed installation value of projects to date is approximately RM3.55 million. Furthermore, the company has ongoing projects valued at around RM11.89 million.

News, Property

JLL Malaysia’s Report: Real Estate Investment Trends and Market Insights

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KUALA LUMPUR: The Malaysian real estate market is experiencing a resurgence following the challenges of the pandemic. As interest rates stabilize and investor confidence rebounds, investment activity is gaining momentum. Notably, towards the latter part of 2023, investment volumes exceeded expectations, indicating a positive shift in market sentiment. With improving consumer sentiment and government initiatives supporting infrastructure development, the market is witnessing renewed interest from both domestic and international investors. This report delves deeper into the factors driving this resurgence and offers valuable perspectives for stakeholders navigating this evolving landscape. Dominant Investment Trends Industrial and logistics land transactions emerged as the dominant trend in 2023, constituting 57% of the total investment volume. This surge was driven by the escalating demand for logistics infrastructure, fueled by the rapid growth of e-commerce and the implementation of the “China plus one” strategy. Simultaneously, the data centre segment witnessed growth, with investors focusing on land acquisitions for future development, attracted by lower costs compared to purchasing existing properties. Logistics and industrial assets commanded a significant portion of the total transaction value in 2023, underscoring their resilience and attractiveness to investors. Conversely, traditional segments such as offices and retail experienced subdued activity, primarily involving Grade B assets. Critical Investments for 2024: Key Strategies for Success The year 2024 commenced with notable investment transactions that are set to bolster portfolios and yield promising returns. Sunway REIT’s acquisition of 163 Retail Park for RM215 million and KLCC Property Holdings Bhd’s purchase of Suria KLCC Sdn Bhd’s remaining equity for RM1.95 billion are strategic moves poised to enhance their market positions. The office submarkets observed subdued movement, with local investors increasingly opting to purchase buildings for owner-occupier purposes. This strategic shift underscores a preference for owning office spaces over leasing, driven by factors such as enhanced branding and visibility. Optimistic Market Outlook Looking ahead, market sentiment remains positive, supported by favourable macroeconomic indicators. Both local and international investors are actively exploring opportunities across sectors. The recent government initiative advising major government-linked companies (GLCs) to allocate more investments domestically is expected to stimulate demand, particularly in logistics, data centres, and healthcare and educational assets. The interest shown by large multinational investors and sovereign funds in participating in large-scale development projects reflects growing confidence in Malaysia’s real estate sector. Their involvement signifies broader investor interest and underscores the market’s growth potential. In conclusion, JJL Malaysia remains committed to providing expertise and guidance in navigating the evolving real estate landscape. With strategic insights and cautious optimism, investors can leverage emerging trends to capitalize on market opportunities and drive sustainable growth.

Investment & Market Trends, News

ES Ceramics Suffered a Devastating 84.4% Loss in Profits for Q3

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KUALA LUMPUR: Manufacturer of hand formers and glove moulds, ES Ceramics Technology Bhd experienced an 84.4% loss in its net profits for its third quarter (Q3) ended 29 February 2024 to RM774,000 compared to its RM4.7 million in last year’s corresponding quarter. According to its quarterly financial report, it was stated that the decline in profit was mainly attributed to the manufacturing segment facing a lower average selling price and sales volume amid higher operating expenses. Despite this, the group managed to gain a marginal 7.5% increase in its revenue of RM87.68 million compared to last year’s corresponding quarter of RM81.55 million. However, the figure is a slight decline compared to the group’s immediate preceding quarter of Q2, which recorded a revenue of RM93 million. “The lower revenue was mainly due to the production output being affected by the Chinese New Year breaks, coupled with the significant increase in material costs for building material segment respectively. “In addition, the preceding quarter has recorded a disposal gain arising from the sale of an industrial land. This gain had contributed substantially to the financial performance of the preceding quarter,” the report stated. Moving forward, the group expects the economy to continue to be on a challenging trend, especially in terms of the increase in raw material prices coupled with higher gas and electricity unit prices. “Despite the prevailing challenges, the Group remains cautiously optimistic on the long-term business prospects and will continue to actively pursue various business strategies to increase its revenue, strengthen product portfolios, enhancement of supply chain security, focus on reducing redundancy, improving efficiency, automation across our operations and to implement cost control measures to maintain our competitiveness during this challenging time,” it said. ES Ceramics’ former manufacturing plants are located in Ipoh City, Perak and Sadao City, Songkhla Province, Thailand. The factory in Thailand produced mainly examination formers, surgical formers, household formers and industrial formers, as well as custom made formers whereas the plant in Malaysia focuses on the manufacture of examination formers.

Investment & Market Trends, News

ANCOM NYLEX Achieves Record-Breaking Earnings in First Nine Months

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PETALING JAYA: In the nine months ended February 29, 2024, Ancom Nylex achieved revenues of RM1.51 billion. The net profit increased by 10.7% year-over-year, reaching an unprecedented RM63.0 million for the same period, marking the first time it has exceeded RM60 million. The growth was primarily fueled by the Agrichem segment, which experienced robust sales of higher-margin products, leading to a 23.4% year-on-year increase in Earnings Before Interest and Tax (EBIT) to RM79.3 million. Managing Director and Group CEO, Lee Cheun Wei commented on the positive outlook, highlighting strategic initiatives such as new AI developments and operational enhancements to strengthen the Group’s market position. He also emphasized plans to expand product offerings in Latin America and optimize operations in the Industrial Chemicals segment. During the third quarter (Q3) of FY24, revenue rose to RM516.8 million, driven by growth in the Agrichem and Industrial Chemicals segments. Net profit for the quarter increased to RM20.1 million, reflecting improved sales of higher-margin products within the Agrichem segment. Additionally, Ancom Nylex announced the proposed acquisition of Green Lagoon Technology Sdn Bhd, aligning with its commitment to environmental responsibility and Malaysia’s renewable energy targets. This strategic move reinforces the Group’s aim for full decarbonization by 2025.

ESG, News

Ministry and SMJ Secretariat to Discuss Measures to Tackle Hardcore Poverty in Sabah

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KOTA KINABALU: The Entrepreneur and Cooperatives Development Ministry and the Sabah Maju Jaya secretariat (SMJ) will discuss interventions to address hardcore poverty in the state.   Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick, who is also the Penampang MP, said the discussion aims to formulate entrepreneurial and educational interventions to complement existing initiatives in tackling the issue. “I want to reaffirm our commitment to continue working together to develop the entrepreneurial sector through the Sabah Entrepreneurial Development Coordination Committee as envisioned by the Sabah Governor Tun Juhar Mahiruddin. “The ministry is also following through on this mandate through on this mandate alongside the Sabah Ministry of Industrial Development and Entrepreneurship for the development of micro, small and medium enterprises (MSMEs) and cooperatives in Sabah,” he said. Ewon noted the achievement of total foreign investments amounting to RM26.7 billion over the 2 years from 2021 to 2023, as well as the reduction in hardcore poverty to 12,555 households, as 2 significant accomplishments that the state should be proud of and appreciate. He also commended the Sabah government’s decision to establish a Joint Coordination Committee to coordinate relevant agencies and departments in entrepreneurship development functions between the federal and state governments to maximise economic activities in the state. Meanwhile, Datuk Dr Yusof Yacob said that dwelling on past infrastructure failures would not benefit the people of Sabah. Instead, he urged strong support for the current Sabah government led by Chief Minister Datuk Seri Hajiji Noor in its efforts to provide various infrastructures for the people and eradicate hardcore poverty in the state. “Enough of blaming each other. We should instead support and give opportunities to the state government under the Gabungan Rakyat Sabah (GRS) and Sabah Pakatan Harapan (PH) to solve the state’s issues,” he said. Yusof urged the people to give time and understand the state government’s intentions in addressing existing problems, particularly those concerning water, electricity and roads. — BERNAMA

News, Property

IC Design Park Aims to Bring Economic Returns of RM500 Mil to RM1 Bil

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KUALA LUMPUR: The Malaysia Semiconductor Accelerator and IC Design Park: Selangor Hub, an initiative of the Selangor government through its digital economy arm, is expected to bring in economic returns of RM500 million to RM1 billion. Selangor Information Technology and Digital Economy Corporation (SIDEC) Chief Executive Officer Yong Kai Ping said the integrated circuit (IC) hub in Puchong, Selangor is expected to begin operations and contribute to the state’s economic growth in July. He added that the state-of-the-art facility – developed in collaboration with the Federal Government – will open up professional career opportunities especially in the engineering field with attractive wage offers. Yong was speaking to reporters after signing a letter of intent with four strategic partners, namely Softbank subsidiary ARM Ltd, Phison Malaysia (MaiStorage), SkyeChin Sdn Bhd and the Shenzen Semiconductor Industry Association. The collaboration with these influential entities is aimed at leveraging global expertise and resources to boost local capabilities in semiconductor design. “Within the first year of operations, we expect more than 300 IC design engineers will be employed and the number will increase in the following year,” he said. The IC Design Park, located in a 45,000 sq ft building initially, will be expanded up to 60,000 sq ft later to accommodate industry needs, Yong said. “From 3-storey, we will expand the building to 6 storeys. We have already received strong demand from international investors,” he added. Meanwhile, the Selangor Investment, trade and Mobility Committee Chairman Ng Sze Han expressed his hope for the hub to be the largest IC design park in Southeast Asia. “It is an excellent initiative as it will create job opportunities, even in support sectors like logistics as well as the food and beverage sector,” he added. The primary goal of the park is to promote original design manufacturing, encouraging local involvement in product design, prototyping and production – shifting from “Made in Malaysia” to “Made by Malaysia”. — BERNAMA

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