Mah Sing enters Sabah market

Mah Sing Group Bhd will enter the Sabah property market with a mixed development, Sutera Avenue, with an estimated gross development value (GDV) of RM830 million over 3.50 hectares.

The land is located in a prime commercial site along the Coastal Highway in Kota Kinabalu’s Central Business District(CBD).

Group managing director Tan Sri Leong Hoy Kum said:" We are keen to enter the Sabah market due to the vibrancy of its economy, which has benefited from the wealth of natural resources including oil palm, timber and oil and gas.

"Tourist trade is strong and provides a large market catchment, coupled with the domestic population base," he said in a statement today.

Mah Sing said based on preliminary plans, it intends to offer multi-storey shop offices fronting the Coastal Highway and complemented by street mall retail lots and serviced apartments for the first phase of 1.72 hectares.

This is Mah Sing's second land deal in as many months, as the developer has a landbanking target of acquiring new projects, with potential GDV of RM5 billion this year.

Mah Singh said with the acquisition of Sutera Avenue, the group’s landbank now stands at 496.14 hectares with remaining GDV and unbilled sales worth an estimated RM16.27 billion, giving the Group strong earnings visibility for the next five-seven years.

Leong said the company will develop Sutera Avenue over five years, and intends to commence registration of interest by the second half of this year, as early as the third quarter. -- BERNAMA

Read More: http://www.btimes.com.my/Current_News/BTIMES/articles/20120326203549/Article/index_html

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RM2b lobster farm for Sabah

ECONOMIC SPUR: Project with US seafood giant to generate RM3b annual revenue, create 12,000 jobs

KOTA KINABALU: SABAH is set to become a major lobster producer when a RM2 billion Integrated Lobster Aquaculture Park (iLAP) deal takes off at Pulau Timbun Mata in Semporna.

Yayasan Sabah, through its subsidiary Inno Fisheries Sdn Bhd, will sign the deal to set up the world's first iLAP with Darden Aquafarm, a subsidiary of Darden Inc, in Kuala Lumpur on Monday. Darden is the owner of Red Lobster and other seafood restaurant chains in the United States with 2,000 outlets and 180,000 employees.

Datuk Seri Musa Aman

Chief Minister Datuk Seri Musa Aman said the project would cover 9,300ha of land, comprising 6,000ha for tropical lobster production, 700ha for a research and development, training and demonstration farm, and 2,600ha for mussel (feed) production.

"This project includes hatching, production, feeding and processing, and it will be part of a 15,000ha area to be gazetted as a Lobster Aquaculture Zone, regulated by the Sabah Fisheries Department," he said after meeting Darden Aquafarm Inc president Bill Herzig at Sri Gaya near here yesterday.

Musa, who is also Sabah finance minister, said the iLAP would comprise the core entity, small-and-medium enterprises and contract farming. Upon its completion in 2020, he said the farm could generate RM3 billion in annual revenue and provide 12,000 jobs. It would also encourage participation from locals as contract farmers or as entrepreneurs through a buy-back scheme.

Read more: RM2b lobster farm for Sabah - Latest - New Straits Times http://www.nst.com.my/latest/rm2b-lobster-farm-for-sabah-1.65042#ixzz1qD1zFWhq

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TYT: Sabah's Per Capita Income Up

Yes! You heard it right! Sabah's Per Capita income have went up!

No! It's not a dream! the rate of unemployment in Sabah also dropped!

Read the following articles for more info! 

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Properties to get boost from growth region

The East Coast Economic Region (ECER) can boost the property sector and property prices in the long term, industry experts and real estate consultants say.

"It's a long term game and the higher impact would be on industrial development in buildings and land for industrial," Henry Butcher Malaysia's property research director Fahariah Abdul Wahab said.

It is learnt that Kuantan can sustain another 150,000sq m of retail space, Kota Baru some 110,000 sq m and Kuala Terengganu some 135,000 sq m.

Fahariah said although the ECER hold about 14.8 per cent of Malaysia's population, it only recorded up to 9.1 per cent of residential, 6.5 per cent of commercial and 8.3 per cent of industrial property transaction in the country in 2006.

In terms of value, the residential sector in ECER only constituted 4.2 per cent of the national total.

"The ECER has the capability to create the needed mass and demand to propel property development in the region," Fahariah said.

She said if all ECER's initiatives are implemented smoothly, it would also give an advantage to the tourism industry and prospects for new hotel and resorts in the region.

"There are a lot of players interested in investing in hotels in the region.

"I believe before investing they will be looking at land prices and viability, because in terms of hotels, the region still lacks good quality hotels on the mainland where you need five to six star hotels to attract foreign and business tourists," she said.

Meanwhile, Ho Chin Soon Research Sdn Bhd director Ho Chin Soon said even though he sees some constraints in land sales and the impact skewed towards the oil and gas and agriculture sectors, the ECER will have positive spillover effects to property prices and property development activity in the region.

DPZ Asia's urban design consultant Kamal Ariffin Zahrain said he believes there is good development potential for the region as ECER's masterplan is structured to take full advantage of it.

"We see good viability as the master plan is well integrated and flexible enough to allow new ideas and changes to be made in future," he said.

By New Straits Times (by Azlan Abu Bakar)

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KK Promises An Eco-Friendly Water Front

Over the last few decades the narrow shoreline of the once serene coastal town of Kota Kinabalu (KK) has changed.

What KK was, in the 1950s or 1960s, is now almost unrecognisable to those who grew up close to it.
It has rapidly changed its face over the last three decades with most of the city centre built on reclaimed land.

Impressive real estate: An artist’s impression of the Kota Kinabalu waterfront.

Today, Kota Kinabalu City Hall is striving to strike a balance in preserving its old environment, while pushing for development to make the city a world-class leisure and tourism spot, in line with the objectives of the Sabah Development Corridor (SDC).

This rainforest city of over 300,000 people will play the leading role as the gateway to Sabah, which aims to be one of the most liveable places in Asia.

For city planners it is also crucial that the city is ready to impress and help the state woo some RM105bil in development projects for investments under the SDC’s 18-year overall economic development plan.

Environmentalist, however, are worried about pushing Kota Kinabalu's shoreline further into the sea as they believe further changes would bring irreparable consequences to city’s very own treasure.

Their concern is on the proposed Kota Kinabalu waterfront project that offers to transform Kota Kinabalu into an integrated mixed development along a section of the Kota Kinabalu town’s coastline.

The Kota Kinabalu City Waterfront, expected to be completed by 2010, will feature the key attraction of a 2km long boardwalk, built using eco-friendly materials rising above the sea on stilts.
Waterfront Urban Development Sdn Bhd (WUD) is carrying out the entire project in collaboration with Kota Kinabalu City (DBKK).
The project is among those identified under the SDC that aims to make Sabah a major destination for both leisure and business tourism and has also caught the attention of Kuwait Finance House (Malaysia) Bhd (KFHMB) and a consortium of Middle Eastern and Malaysian investors.

At the launch of the SDC, a tripartite agreement was signed between WUD, KFH and Intonasi Intan Sdn Bhd witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi.

WUD managing director Reymee Mohamed Hussein said the development would incorporate environmentally friendly features like hi-tech LED lighting, energy conserving air conditioning systems and solar powered pedestrian lighting along the boardwalk.

Reymee, together with Geoffrey P.J. Lee, conceptualised the Kota Kinabalu City Waterfront development masterplan with DBKK.

He gave the assurance that there would be no reclamation work.

“It is primarily to increase the role of a coastal city like Kota Kinabalu to become a catalystfor the modernisation and development in Sabah,” said Reymee, adding that the RM500mil project was conceptualised after studying several thriving world class international waterfront attractions like Darling Harbour (Australia), Cape Town Waterfront (South Africa), Victoria Harbour (Hong Kong), Canary Wharf (London) and Clark Quay Riverside (Singapore).

The development will also spur economic growth for Kota Kinabalu and provide employment and new business opportunities to local residents and businesses.

“Kota Kinabalu City Waterfront will feature one of the longest city waterfront boardwalks in Asia and is poised to become the city’s prime tourist attraction. It will be an integral part of Sabah’s hospitality industry,” Reymee said.

Sabah Environment Protection Association president Datuk Sue Jayasuriya said there was a need to ensure that any development did not turn the rainforest city into a concrete jungle.

By The Star

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REAL ESTATE DEVELOPER MAY HAVE TO TURN THEIR SIGHTS ONTO THE INTERNATIONAL MARKET

Written By Paul Mu, News Sabah Times, 16 March 2012


Kota Kinabalu: Real estate developers in Sabah may have to look at the international
market to widen their business scope.

This is because effective january 1 this year, Bank Negara Malaysia (BNM) has
imposed new ruling on housing loan based on the net income of the applicant instead
of gross income to approve the amount of loan.

Sabah Housing and Real Estate Developer Association (Shareda) president Datuk
Susan Wong Siew Guen said this at a seminar on 'How To Sell Malaysia Real Estate
Internationally' at a hotel yesterday, organised by the Malaysian Property Incorporated
(MPI) and supported by Shareda and Malaysian Institute of Estate Agents.

"So this has held back some property buying activities," Stated Susan.

To overcome th challenge she said: "We now need to look wider, perhaps into the
international market. And thanks to MPI for giving us tihis timely seminar. As such,
we must be ready to capture this international community and sell our international
opportunity and sell our properties internationally."

She also welcome those who were interested to join them for marketing trips to
Balikpapan and Singapore, organised by MPI in the coming months.

She said Malaysian properties have proven popular with investors from overseas,
particularly from the US, Japan, China and the Middle East.

Further more, she said foreign investors enjoyed high returns for investing in Malaysia
as we have strong economic policies in the international property arena, giving
confidence to foreign investors.

"The law governing foreign investors in Malaysia is quite relaxed such as no real
property gain tax (RPGT) after the first five years and only paying 5 per cent of 
RPGT within the first five years," she said.

the proce of Malaysian properties, as compared to other in the Asian Region is still
comparatively lower and cheaper and there are still potential growth, she said.

The Malaysian government has made it easy for foreigners to buy property in the
country and we have a program for an oversea buyers known as 'Malaysia My
Second Home' (MMSH) where foreignners can enjoy a 10-year multiple entry
visa and other benefits, said Susan.

"And this MMSH programme hsa further boost the strength of the property market
and opened up many new investment opportutities to the foreign investors," she added.

Back home here, Sabah is reputed to be an eco-tourism destination and Kota Kinabalu
is known as the nature resort city, providing an eco-enviroment place to live in.

"Sabah has beautiful islands, clean air and no polluton. We also have Mount Kinabalu,
the highest mountain in the South East Asia which is rich in fauna and flora," said Susan,
adding that most people here speak and understand Malay, Chinese and English.

Sabah is also home to many races and ethnic groups who live harmoniously together
which ensures great potential in the tourism industry.

The speakers who presented their papers were Sabah Economic Development &
Investment Authority (Sedia) chief executive Datuk Dr Mohd Yaakub Johari, MPI
general manager Venna Loh, MPI legal advisor Chris Tan and PriceWaterhouseCoopers
executive director Phan Wai Kuan.

Also present were Institute of Development Studies cum MPI board member
Datuk Clarence Bongkos Malakun, Shareda vice presidents Wong Ten An and Chew Sang Hai
and its council members Leena Toyoi and Datuk Chong Hon Len.





 

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BN Goverment Will Continue To Be Pro-business

Datuk Seri Musa Aman

SANDAKAN, March 10 (Bernama) -- The Barisan Nasional government will continue to be a pro-business government that encourages private sector growth and investment, Chief Minister Datuk Seri Musa Aman said.

He also said that he would like to see all communities participate and take advantage of available opportunities so that everyone can reap the rewards together.

Speaking at the Sandakan Hokkien Association's 124th Anniversary dinner here tonight, Musa acknowledged the Hokkien community's contribution towards Sabah's economic growth.

"Your diligence in conducting business activities and participation in the various economic sectors are recognised, and are part of overall efforts in driving our economy forward. I am confident that the Hokkien community will continue to contribute to the local economy.

-- BERNAMA

Read More: http://www.bernama.com/bernama/v6/newsgeneral.php?id=651393

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Musa Aman, The Economic Genius.

Since he took over the Sabah Chief Minister post from Chong Kah Kiat on March 27, 2003, Datuk Seri Musa Aman have done tremendous amount of works to uplift Sabah's economy status.

Musa Aman  had set his priorities on agriculture, tourism and manufacturing, putting them in what he calls the state's 'Halatuju' development framework, and supporting them by placing human resource development high on his agenda.

Read the following articles for more info.

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Datuk Seri Musa Aman

Musa a key driver of economic growth

The coalition also won 24 of 25 parliamentary seats.

Since he took office, Musa has made it his job to see that projects meant for the people reach their targets.

"My job, and the job of all of us in power here, is to improve the livelihoods of the people, both in urban and rural areas," he says.

Sabah has made marked social and economic progress, much of it attributed to successive BN governments.

Musa's focus has always been the state's economy, building infrastructure and public amenities, improving education facilities, managing concerns relating to illegal immigrants and helping the poor and needy, particularly the natives, who make up 25 per cent of Sabah's population and are traditional BN supporters.

Datuk Ronald Kiandee

 Datuk Ronald Kiandee, the Umno MP for Beluran and deputy Dewan Rakyat speaker, believes that BN will be returned to power in Sabah in the current political environment.

"The politics of development is still a major factor in BN's success, especially in Kadasandusun and Murut areas," he says.

The state government is committed to spending RM4.04 billion on development programmes this year, the largest amount in the state's 48-year history.

Sabah has been cited for exemplary good governance and Musa is the "key driver" of economic growth and development in the state.

The Sabah Development Corridor, launched in 2008, has also begun to yield results with investment commitments exceeding RM63 billion, of which more than RM16 billion have been realised.

Sabah is among the top states for sound financial management, given a clean bill of health by the auditor-general for the last 11 consecutive years.

The state also received the highest rating of "AAA" from RAM Rating Services for the last three years for its strong fiscal position as a result of a series of surpluses and accumulation of reserves.

It has also obtained ISO certification from Moody's International for efficiency and budget management for three consecutive years.

Though confident that Sabahans will not vote on the basis of sentiment, emotion or nostalgia, Musa wants his team to continue serving the people to cement their faith in BN.

zubaidah@nst.com.my

Read more: Musa a key driver of economic growth - Politics - New Straits Times http://www.nst.com.my/local/politics/musa-a-key-driver-of-economic-growth-1.57896#ixzz1oax4bWh1

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Joint Ventures Between Sabah And Foreign Companies Can Push Up Tourist Numbers To Sabah

Sabah is on the right path to become one of the most prosperous states in Malaysia. People & companies from all over the world is making their ways towards Sabah to invest their capital.

The investor-friendly Sabah will continue to open its door for any investor. With the current policy related to FDI adopted by the states government, under the purview of the economic-savvy Datuk Seri Musa Aman, it is not impossible for Sabah to achieve the highest FDI recipient in Malaysia.    

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 Sabah Banks On Joint Ventures With Foreign Companies To Push Up Tourist Numbers To Sabah

KOTA KINABALU, March 8 (Bernama) -- Joint ventures between Sabah and foreign companies could help to encourage more tourists to the state from the companies' country of origin, says Sabah Chief Minister Datuk Seri Musa Aman.

Datuk Seri Musa Aman

 These developments have been able to not only boost foreign direct investments but have also contributed towards growth and wealth creation and produced a high number of jobs for the locals.

Ming Garden Hotel & Residence

 "This is in line with the Sabah Development Corridor (SDC) and the emphasis on private sector investment as driven by Malaysia's Economic Transformation Programme (ETP)," he said when opening the Ming Garden Hotel and Residences here today jointly developed by a China company with Sabah Urban Development Corporation (SUDC).

--BERNAMA

Read More: http://www.bernama.com.my/bernama/v6/newsindex.php?id=650934

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Business potentials in Lahad Datu attract investors

4th March, 2012

KOTA KINABALU: The massive business potentials in Lahad Datu arising from the Lahad Datu palm oil industrial cluster (POIC Lahad Datu) project continue to beckon investors.

Pengah Property Sdn Bhd, a subsidiary of Kuala Lumpur-based RENG Corporation Sdn Bhd, became the 40th investor to buy land in POIC Lahad Datu when it signed a sale and purchase agreement on Friday with POIC Sabah Sdn Bhd, the state-owned company developing POIC Lahad Datu.

Pengah purchased 6.6 acres for the development of commercial buildings while RENG Corporation, the parent company specialising in design, construction technology, property and education signed an option to purchase an additional 100 acres. RENG has been in business since 1992.

RENG’s group managing director Richard Eng and POIC Sabah’s chief executive officer Datuk Dr Pang Teck Wai signed on behalf of their respective companies.

Datuk Dr Pang Teck Wai

 The signing ceremony, held at POIC Sabah’s office at Wisma Perindustrian here, was witnessed by Datuk Raymond Tan Shu Kiah, the Sabah Minister of Industrial Development and chairman of POIC Sabah Sdn Bhd.

Datuk Raymond Tan Shu Kiah

The land sale represents growing investor confidence in the project, which started in 2005 and has so far attracted about RM4.5 billion investment, the latest being a re-gasification facility by Petronas (Malaysia’s national petroleum company) and a 300MW gas-fired power plant by Tenaga Nasional Berhad.

POIC Lahad Datu, which Prime Minister Dato Seri Najib Tun Razak visited on Feb 17, was last Tuesday (Feb 28) boosted by an announcement that the Federal government will fund the construction of a RM400 million container port at the project in anticipation of the commissioning of major oleochemical plants and the export of oleochemical products.

Read More: http://newsabahtimes.com.my/nstweb/fullstory/56677

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