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Property

Investment & Market Trends, News, Property

Sunway REIT Posts Lower Net Profit in 1Q24, Expert Expresses Cautious Optimism

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KUALA LUMPUR: Sunway Real Estate Investment Trust (REIT) reported a decline in net profit to RM86.98 million in the first quarter ended 31 March 2024 (1Q24) compared to RM96. 46 million last year. Revenue also decreased by 2% to RM178.59 million from RM182.80 million previously. In a separate statement, Sunway REIT attributed the revenue contraction primarily to a lower contribution from the services segment following the cessation of rental income from Sunway Medical Centre (Tower A and B), which was disposed of in 3Q23. However, this decline was offset by improved performance in the hotel, office, industrial and other segments. SunReit Management Sdn Bhd Chief Executive Officer Clement Chen said the acquisition of 6 hypermarkets, 5 within Klang Valley and one in Johor, for RM520 million which was completed on 30 April 2024. “Based on the initial yield of approximately 8% from the purchase consideration, the rental income will more than compensate for the void in earnings resulting from the disposal of Sunway Medical Centre (Tower A and B), thereby boosting property income (NPI) for the remaining year,” he said. With this acquisition, Sunway REIT expanded its asset portfolio to 25 properties, including an inaugural property in Johor and now manages assets worth RM9.5 billion. “This solidifies our position as the 2nd largest REIT in Malaysia, measured by assets under management,” he added. Looking ahead, Chen expressed cautious optimism for 2024, citing the resilient performance of the retail segment and the steady recovery of tourist arrivals. “Furthermore, we anticipate unlocking additional NPI potential upon the completion of our proposed acquisitions and ongoing asset enhancement initiatives in Sunway Pyramid Mall, scheduled for completion in the 2nd half of 2024,” he commented. — BERNAMA

Energy & Technology, News, Property

NSG BioLabs Partners With EnterpriseSG and Merck to Fuel Biotech Innovation

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SINGAPORE: NSG BioLabs announces partnerships with Enterprise Singapore (EnterpriseSG), the Singapore government agency championing enterprise development, and Merck, a leading science and technology company, to bolster the biotech landscape by providing needed resources such as funding, expertise and networks to advance startup research and development. Being Singapore’s largest provider of biotech co-working laboratory and office space, the company also successfully concluded a US$14.5 million (RM68.6 million) financing round led by Celadon Partners, an Asian private equity firm, and ClavystBio, a life science investor and venture builder set up by Temasek to accelerate the commercialisation of breakthrough ideas to health impact. With these fresh funds, NSG BioLabs intends to enhance its products and services and introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia. These achievements reaffirm NSG BioLabs’ strength and expertise in providing high-quality, well-managed, and turnkey Biosafety Level 2 (BSL-2) certified laboratory and office spaces. Since 2019, NSG BioLabs has been assisting innovators in creating impactful solutions in the health, biomedical, agrifood, and industrial biotechnology sectors, working in areas such as precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology. With the largest co-working biotech laboratory and office footprint in Singapore, coupled with extensive networks with partners, suppliers and industry experts, NSG BioLabs has helped over 40 companies as residents. The company’s residents include several multi-billion-dollar multinationals as well as many promising startups that have achieved key milestones. The startup residents alone have successfully raised nearly US$400 million (RM1.89 billion) in funding and supported hundreds of jobs. “Our partnerships with EnterpriseSG and Merck signify the importance of a collaborative spirit, and we hope to spur greater collaboration among other stakeholders to benefit the biotech industry in Singapore and the Asia Pacific region,” NSG BioLabs CEO and Founder Daphne Teo. NSG BioLabs’ renewed partnership with EnterpriseSG aims to invest in and nurture more high-potential biotech startups, in particular, expanding support for those with promising innovations in fields such as precision medicine, with the aim of fast-tracking the development and commercialisation of such deep tech solutions. “Singapore’s biotech landscape has evolved significantly, with a burgeoning community of global startups and doubled healthtech deals in 2023. EnterpriseSG will continue to work with industry partners like NSG BioLabs to drive the development of new deep tech innovations such as AI-enabled platforms and targeted therapies by providing patient capital, infrastructure and expertise. This will strengthen Singapore’s edge in precision medicine and revolutionise healthcare delivery,” said EnterpriseSG Director of Healthcare and Biomedical Dr Clarice Chen. “As the Southeast Asia biotech sector experiences tremendous growth driven by healthcare needs, we are confident that NSG BioLabs’ innovative co-working model can offer compelling solutions for biotech startups and companies across the region. NSG BioLabs’ dedication to empowering companies to fast-track their research and development efforts is commendable,” said Donald Tang, Managing Partner at Celadon Partners. To further enable its residents to develop, grow and scale-up, NSG BioLabs has secured a partnership with Merck to provide its residents with special terms for Merck’s reagents, and equipment in life sciences. The partnership also includes preferential access to biopharma processing expertise and consultation for scaling-up production.

Investment & Market Trends, Property

AME Elite to Sell 11 Freehold Johor Lands for RM209.84 Mil

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KUALA LUMPUR: AME Elite Consortium Bhd proposes selling 11 industrial land plots in i-TechValley, Iskandar Puteri, Johor, to Digital Hyperspace Malaysia Sdn Bhd (DHM) for a combined RM209.84 million in cash. The real estate services group stated that its subsidiary, Pentagon Land Sdn Bhd, plans to dispose of seven freehold plots totalling 9.07ha to DHM for RM134.79 million. Another subsidiary, Greenhill SILC Sdn Bhd intends to sell 4 similar plots measuring 5.05ha to DHM for RM75.05 million. The proposed sales aim to unlock the full value of the lands, resulting in an estimated net pro forma gain of RM85.13 million and generating gross cash proceeds of RM209.84 million. “This will allow the group to partially fund its ongoing industrial property development project, i-TechValley and strengthen the group’s financial position for future endeavours,” it said. The estimated timeframe for utilisation is within 36 months following the completion of the proposed sales and it is expected to be completed by the first quarter of 2025. — BERNAMA

Property

Over 400 units of Sunway Velocity 3 Homes Sold on Opening Weekend

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PETALING JAYA: Sunway Property’s latest venture, Sunway Velocity 3 in Kuala Lumpur, saw an impressive 60% take-up rate during its inaugural weekend on May 4, with 400 out of 695 units swiftly finding buyers. Sunway Property attributed this success to the track record set by its predecessors, Sunway Velocity (2011) and Sunway Velocity TWO (2018), both of which saw rapid sales of residential units and fully occupied commercial spaces. The initial phase of Sunway Velocity 3 comprises two blocks of serviced residences sprawled across 3.43 acres of prime real estate, boasting an estimated gross development value of RM 1.28 billion. This residential enclave is seamlessly integrated with Sunway Velocity Mall. Chong Sau Min, CEO of Sunway Property’s northern and central regions, as well as Sunway Property and Facility Management, noted the diverse profile of buyers drawn to Sunway Velocity 3, ranging from professionals and commuters to small families, first-time homebuyers, and astute investors. Buyers were particularly drawn to the development’s unparalleled connectivity to an array of lifestyle amenities within the vibrant Sunway Velocity integrated city. Additionally, they expressed confidence in the project’s appreciation potential, buoyed by Sunway’s substantial ownership and management stake in over 50% of the Sunway Velocity project, ensuring perpetual and robust management. Furthermore, the inclusion of home maintenance services through the Care+ offering was well-received by buyers, with plans underway to introduce tenancy management services under Rent+ to further enhance the value of their investments. Strategically located just one station away from the TRX Financial Hub, Sunway Velocity 3 offers direct access to Sunway Velocity Mall and Sunway Velocity TWO via a convenient link bridge, enhancing its appeal to residents and investors alike.

News, Property

Penang unveils plan for Integrated Circuit Design and Digital Park

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GEORGE TOWN: The Penang state government has unveiled its plan to establish an Integrated Circuit (IC) Design and Digital Park, which offers a total of 1.0 million square feet (sq ft) of premium office space to attract and house high-impact projects. Penang Chief Minister Chow Kon Yeow said these developments will further solidify Penang’s position as the preferred investment destination for businesses and entrepreneurs in these sectors. He said the development of the park consists of two phases, involving 42.5 hectares in the Bayan Lepas Industrial Park. “The first phase which began in January last year involves the construction of two office buildings, namely the Global Business Services (GBS) By The Sea and the GBS TechSpace, with a total cost of RM347 million. “(The first phase) is set to be completed by the fourth quarter of this year, providing approximately 350,000 sq ft of premium office space, equipped with high-spec building features, cutting-edge engineering lab facilities and parking accommodations,” he said during a press conference here, today. Chow said the second phase involves the construction of GBS@Technoplex, which will cost approximately RM308 million, scheduled for completion by 2027.He highlighted that in the past, the state has established its own GBS buildings which are the first of their kind in Malaysia, namely GBS@Mayang and GBS@Mahsuri, signifying the state’s commitment towards a robust ecosystem for digital innovation. Chow said the second phase involves the construction of GBS@Technoplex, which will cost approximately RM308 million, scheduled for completion by 2027. He highlighted that in the past, the state has established its own GBS buildings which are the first of their kind in Malaysia, namely GBS@Mayang and GBS@Mahsuri, signifying the state’s commitment towards a robust ecosystem for digital innovation. He noted that Penang currently hosts 200 Malaysia Digital-status companies, predominantly from foreign direct investments, showcasing the state’s attractiveness in this sector. “To further promote IC design, the state is introducing subsidised rental rates for office spaces. “Additionally, we are in the process of applying to the Federal Government for incentives and grants to enhance the ecosystem. These initiatives will be incorporated into the forthcoming incentive package,” he said. Chow also said that the state is committed to providing exceptional infrastructure, conducive facilities, and attractive amenities to strengthen Penang’s pioneer position in the IC design and digital industries. Over the past 30 years, Penang has been home to over 20 global IC Design companies, including Intel, Motorola, AMD, Microchip, UST Global, Siemens, Zebra, Lattice, and Synopsys, as well as several homegrown IC design corporations such as SkyeChip, Oppstar Technology and Infinecs Systems. — BERNAMA

News, Property

Serenia City’s First Commercial Hub ‘The Corak’ Reflects Sime Darby Property Allure with 100% Take-up Rate

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ARA DAMANSARA: Sime Darby Property Berhad (“Sime Darby Property” or “Company”) celebrates a stellar 100% take-up rate for The Corak, a commercial space nestled within the vibrant Serenia City. Retail owners and smart investors jumped at the opportunity to be part of the township’s first freehold commercial hub scheduled for completion in 2027. Slated to become Serenia City’s maiden hangout spot, The Corak boasts a Gross Development Value (“GDV”) of RM186 million and is expected to elevate the township to become livelier and more convenient for its residents. In addition, the business hub is also projected to create ample job opportunities, contributing to the socio-economic developments of Serenia City. The Corak is in the heart of Serenia City, fronting the 32-acre Serenia City Central Park. The development offers 98 units of 2-storey shop offices and one drive-thru with built-ups spanning from 3,358 sq. ft. to 5,233 sq. ft. and selling prices ranging from RM1.7 million to RM3.3 million. It features a modern design with strategic signage placements, tall windows for cafe spaces, wide walkways for al-fresco dining, high ceilings for an inviting atmosphere, and 830 parking bays for patrons’ convenience. Sime Darby Property’s Chief Marketing and Sales Officer, Datuk Lai Shu Wei said that The Corak is designed to reshape the business landscape in Serenia City by providing retailers with efficient, tailored environments that directly support their business objectives. “The robust take-up rate reflects retailers’ confidence in Sime Darby Property, underscoring The Corak’s appeal as a prime destination catering to the needs of a growing cityscape,” he said. Datuk Lai added: “The business community trusts our dedication to creating a space specifically designed to meet their evolving needs. This commitment seamlessly aligns with Company’s Purpose to be a Value Multiplier for People, Businesses, Economies, and the Planet, and cultivating vibrant and enduring communities for generations.” Leveraging the business hub’s appeal to a dynamic demographic, business owners at The Corak can benefit from the population catchment of up to 500,000 within a 20-minute drive. The Corak is also conveniently located along Serenia City’s main road with three distributed access points for easy connectivity and can be reached via ELITE Highway, North-South Expressway (“NSE”) and Maju Expressway (“MEX”). For more information, please visit https://www.simedarbyproperty.com/serenia-city/the-corak/ or drop by Serenia City Sales Gallery.

OYO
Investment & Market Trends, Property

OYO Launches Self-Operated Hotels in Malaysia: Expanding Partnerships and Enhancing Experiences

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KUALA LUMPUR: OYO has introduced self-operated hotels in Malaysia alongside its core business strategy, aiming to open 100 new managed hotels in 2024 and partner with realtors for hotel development. The company plans to bring about 100 hotels in Malaysia under management contracts, with selected professional operators running these properties. OYO will invest in upgrading infrastructure, technology, and marketing to boost property revenue. Realtors will benefit from assured rent, timely payments, flexible terms, and a responsive system to address concerns and suggestions. These self-operated hotels will be labelled as ‘Managed by OYO’ on the company’s app and website to highlight OYO’s hands-on management and high quality. The first of these hotels, GS Hotel in Kota Damansara, Kuala Lumpur, is already operational. OYO is actively seeking partnerships with real estate developers to locate suitable properties for these hotels, focusing on major tourist hubs like Kuala Lumpur, Penang, and Kota Kinabalu. The initiative aims to enhance customer experiences through upgraded facilities and effective marketing. The company will secure long-term management contracts based on revenue-sharing arrangements with property owners. OYO will provide training and ongoing support to ensure partners excel in managing these properties. This collaborative approach aims to foster economic growth through community partnerships. Akshay Rathod, Country Head of OYO Malaysia, emphasized the company’s commitment to empowering hotel partners with innovative programs to boost revenue and competitiveness. Dato Gordev Singh, Owner of GS Hotel, praised the program for meeting their operational needs and fostering mutual growth. OYO has streamlined its technology to help partners increase visibility and revenue. Features like Co-OYO allow partners to design promotions, while OYO 360 simplifies onboarding properties onto its platform in just 30 minutes.

News, Property

SANY Group Contributes to New Zealand’s Infrastructure Transformation to Boost Tourism

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SHANGHAI, CHINA: SANY Group is taking part in the road construction project in New Zealand’s Bay of Plenty, the 12th road upgrading project in New Zealand as the country embarks on major upgrades to its transportation infrastructure. Globalisation is an important element of SANY’s development strategy, to build a better world. The group has been actively exporting high-end equipment to support urban upgrading and infrastructure projects worldwide. Upon completion, the Bay of Plenty road will provide more convenient and safer transportation options to the local communities and tourists visiting the region. To date, SANY has delivered three pieces of road construction equipment that are working in synchronisation to guarantee both construction quality and efficiency, namely: STR30C-8 lightweight double-drum roller: It’s equipped with a Yanmar engine with robust power and offers the choice of front and rear, single and double drum vibration, which can be switched flexibly under any working conditions. The model’s high compaction and high-density rolling quality can meet the strict requirements of highway construction. SSR180C-8 single-drum roller: The cabin is certified by Rops/Fops, standard configuration includes a reversing camera and full LED lights to provide a more comfortable and safer operating environment. SMG200C-8 motor grader: The robust model has a Meikang engine with 186KW power, coupled with direct-drive powershift transmission, smooth shifting, and quick response to ensure operation with precision, the easy-to-maintain rotary support device also reduces cost and boosts reliability and durability. As a leading supplier of complete road construction equipment, SANY has built a comprehensive product portfolio of five core categories – pavers, rollers, graders, milling machines, and asphalt mixing plants. In 2021, SANY’s hydraulic roller, asphalt plant, and pavers had the highest market share in China, according to the statistics from the China Construction Machinery Industry Association (CCMIA). “With short winters and long summers, the Bay of Plenty is one of New Zealand’s sunniest and most popular vacation destinations. Its breathtaking natural beauty and unique culture attract numerous tourists from around the world, and we’re delighted to support the construction of the roads with our products to help build a better Bay of Plenty,” said SANY Country General Manager Jat Zhang. “We look forward to participating in more projects that will create better tourism experiences for visitors from all over the world,” he added.

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.

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

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