MAYBANK : Caution advised on Iskandar residential, commercial property - Malaysia

Posted:17 Apr 2015 12:17
- CNA/kk

Oversupply, "huge incoming supply" in a crowded development space and "aggressive landbanking activities" by Chinese developers among the reasons for concern flagged by Maybank Investment Bank's research unit. "We prefer the Klang Valley and Penang over Iskandar."

File photo of buildings under construction in the Iskandar development zone in southern Malaysia's Johor state. (AFP/Roslan Rahman)

SINGAPORE: The property oversupply situation in Iskandar Malaysia, Johor, is "likely to get worse before it gets better", said Maybank Investment Bank's research wing in a report, with property values in an increasingly crowded development space possibly declining over the medium term.

In a research note issued by the Malaysian bank on Tuesday (Apr 14) urged investors to be cautious about the region, noting that property transactions and prices in Iskandar have been dropping. 

The value of property transactions in Johor had fallen by 33 per cent quarter-on-quarter in the Q4 2014, underperforming the country (-7 per cent) and other major cities such as Kuala Lumpur (-12 per cent) and Penang (8 per cent).

(Ads Club : 35mm X 25mm Thermal Barcode Label )

Property prices in Johor were also weaker than that of other cities, with the House Price Index (HPI) contracting 1 per cent quarter-on-quarter. In contrast, property prices in the whole of Malaysia dropped 0.2 per cent, the research paper said.

Residential and commercial property transaction values plunged 42 per cent and 43 per cent on-quarter in the fourth quarter 2014, respectively, compared to the 4 per cent dip by industrial properties. 

"The latest statistics reaffirm our view that industrial properties are a better investment choice in Iskandar due to the relocation of small medium enterprises (SMEs) from Singapore and its relatively limited supply as compared to residential and commercial properties," Maybank said.

OVERSUPPLY AN ISSUE

The research note said that Malaysian developers have scaled back their launches and shifted their product mix to avoid direct competition with Chinese developers, and have lowered sales expectations for their projects at Iskandar.

"Judging from the number of approved high-rise projects, the Iskandar property market could be hit by too much supply of high-rise mixed development projects if there is still no coordinated planning and control - this will induce price volatility," Maybank analyst Wong Wei Sum said in the research.

"The oversupply situation will be exacerbated by the huge incoming supply in 2015/2016, where units under construction have risen 18 per cent year-on-year in 2012 and 2013, respectively."

"AGGRESSIVE" LAND GRAB BY CHINESE DEVELOPERS

The research note also raised concerns about "aggressive landbanking activities" by Chinese developers in the already-crowded Iskandar region.

"Without coordinated planning and control, this could aggravate the oversupply situation and induce price wars, especially in the high-rise mixed development segment."

For instance, Shanghai-based Greenland Holdings Group recently expanded its foothold in the space with the acquisition of a 128-acre freehold land in the south of Bandar Baru Permas Jaya. This was after its first purchase of 14 acres of land in Danga Bay in 2014. The company is also looking to acquire about 1,200 to 1,400 acres of industrial land near the Tanjung Langsat Industrial Complex, according to Maybank.

"If this materialises, Greenland will emerge as one of the largest land owners in Iskandar with a total landbank of 1,342 acres and it would pose strong competition to the local developers," the report said.

RECLAMATION PROJECT PRESENT "HIGH ELEMENT OF RISK"

Maybank also said it is "cautious" over "massive land reclamation" in Iskandar.

Reclamation works spanning 3,425 acres for the Forest City project has been given the green light from the Development of Environment. The development will spread over a 30-year period, and will consist of four man-made islands reclaimed in four phases.

"The execution and planning of such reclamation projects is complex, especially Forest City, and carry elements of risk and uncertainty. Hence, developers' financial positions are paramount; else we may see projects being abandoned or price wars initiated to clear inventories or reduce sales risks by the developers," Maybank said.

"More importantly, the failure of any of these projects could erode buyers' confidence and perception on Iskandar."

As such, the bank said it remains cautious on property exposure in Iskandar, instead preferring developers with exposure in the Klang Valley and Penang.

Klang Valley, in particular, is preferred because of the upcoming KVMRT and LRT lines, and potential KL-Singapore high-speed rail project, which will end at Bandar Malaysia, Maybank said.

More importantly, the strong population growth potential in Greater KL and Klang Valley - a possible 40 per cent increase to 10 million by 2020 - offers more sustainable demand for properties, it added.

Source: channelnewsasia - Singapore

http://www.channelnewsasia.com/news/singapore/caution-advised-on/1790094.html

Security guard killed in clash over territory - Bukit Raja - Klang - Malaysia

Posted: April 18, 2015
<Police say six others injured, two guard houses set on fire in attack by five men.>

KLANG: A security guard died and six others were injured when three guardhouses at a housing estate in Bandar Bukit Raja were attacked and burnt early this morning.

The dead man was identified as Muhammad Ridzhuan Che Bi, 26, from Penang.

Security guards N. Arujunam, 64; Aziz Salim, 56; K. Muniandy, 61; A. Naagendran, 26 and S.Renganathan, 45, were injured, as was another man identified as S. Kannan, 45.

Supt Zailan Tasir of Klang Utara police a call was received at about 2am to say that three guardhouses in the Bandar Bukit Raja housing estate had been attacked and set on fire by five unidentified men.

( Ads club: Need To Scan And Verify The Money ? )

He said that during the incident, Muhammad Ridzhuan was on duty at one of the guardhouses at the housing estate while the other five victims were in two separate guardhouses nearby.

“Preliminary investigation found that two guardhouses were burnt while the other had its window panes broken. The cause of the attack was believed to be due to a fight for territory,” he said.

Source: Free Malaysia Today - Malaysia

http://www.freemalaysiatoday.com/category/nation/2015/04/18/security-guard-killed-in-clash-over-territory/

Malaysia to host World Strongest Man 2015

Posted on 18 April 2015 - 04:37pm
Last updated on 18 April 2015 - 06:19pm

Zaim Zamani

PUTRAJAYA: 30 athletes from various countries will congregate at Putrajaya for the World Strongest Man 2015 event.

This will be the second time Malaysia hosts this event, having previously hosted the 2002 edition.

Putrajaya Corporation (PPj) president Tan Sri Aseh Che Mat said PPj are delighted and thrilled to have 30 of the World's strongest man here.

He also said it was an honour for Putrajaya to be chosen as the venue host the premier event which will be broadcast to more than 400 million viewers worldwide.

"With our wide spaced roads, pedestrian walks and scenic view, Putrajaya provides one of the best landscapes for an event of this calibre," he said during the World's Strongest Man 2015 press conference.

(Ads Club: Laminate Machine - Malaysia )

"It is always the aim and effort of the PPj with the support of the Ministry of Federal Territory in promoting Putrajaya as the premier event ground for international event such as World Strongest Man," he added.

The mighty thirty will be divided into five heats of six competitors who will go through events like Loading Race Barrels, Deadlift, Circus Barbells, Kettlebell Throw, Truck Pull, Squat Lift, Norse Hammers, Basque Circle and Dumbbell Press.

The event will take place in three locations within Putrajaya, namely the Palace of Justice, Putrajaya Marina and the Walking Bridge.

The Preliminary heats will take place from April 19 till 22 and the finals will be happening on April 25 and 26 year 2015.

Source: The Sun Daily - Malaysia

http://www.thesundaily.my/news/1388254

Malaysia Airlines to discontinue flights to Frankfurt – Bernama -

Posted: 18 April 2015 3:39 PM

Malaysia Airlines is withdrawing from Frankfurt in the course of a network rationalisation exercise and as part of the national carrier’s recovery plan. 

"We regret to announce that Malaysia Airlines is suspending flight operations in Frankfurt. The last flight out will be on May 29," Malaysia Airlines Frankfurt director, David Rajkumar Subramaniam, said in a statement yesterday.

According to the statement, the revised network plan is in line with Malaysia Airlines’ overall strategy to be more regionally focused, with a strong global connectivity through its OneWorld alliance and partners.  

"Our challenge is to ensure Malaysia Airlines operates and utilises its fleet at an optimum level, as well as maximise revenue on every route it flies," Malaysia Airlines chief executive officer, Ahmad Jauhari Yahya said in the statement.

He highlighted that Malaysia Airlines today continued to operate several unprofitable and low yield routes, with little passenger flow through to other routes in the network.

Operation of these very poor performing routes only adds to Malaysia Airlines' worsening financial position as a network carrier, he said.

(Ads Club: Need A Machine Shred Your Privacy Data?

Malaysia Airlines expressed regret for the inconvenience caused as a result of the changes and gave an assurance that customers holding tickets to and from the affected routes would be eligible for a refund.   

It also stressed that continued connectivity would be maintained through the OneWorld alliance, which offers connections to more than 950 destinations across the globe from its 15 airline members. – Bernama, April 18, 2015.

Source: The Malaysian Insider - Malaysia
http://www.themalaysianinsider.com/malaysia/article/malaysia-airlines-to-discontinue-flights-to-frankfurt-bernama

Vanessa crowned new Miss Universe Malaysia

Posted: Saturday April 18, 2015 MYT 12:00:00 AM 
BY NOEL FOO

Bevy of beauties: (From left) Tan, Vanessa, Jagan and Sugeeta at the Shangri-La Hotel in Kuala Lumpur. — GLENN GUAN / The Star

KUALA LUMPUR: After a month of intense training, stiff competition and televised challenges, 24-year-old Vanessa Tevi Kumares was crowned Miss Universe Malaysia 2015.

The tourism management graduate of Indian-Chinese parentage from Seremban shed tears of joy, which quickly dried up as she received the crown and sash from her predecessor, Miss Universe Malaysia 2014 Sabrina Beneett, just after midnight.

Vanessa beat 16 other hopefuls to the crown, and is expected to do the country proud when she takes on the rest of the world early next year.

Following her graduation from Britain, she interned for a year in the United States, and recently started work at a hotel in Singapore.

A former synchronised swimmer in school, Vanessa is a thrill-seeker who enjoys activities like bungee jumping, skydiving, hiking and jumping off cliffs.

“As a normal girl, I was thrust into this world of glitz and glamour that I was not used to, and I would like to thank the organisers for this opportunity and for training me for this very moment,” she told The Star after her crowning.

Along with the title, she took home RM50,000 in cash as well as gifts from sponsors worth more than RM180,000.

(Ads Club: Good quality compatible Toner )

“The team worked harder this year to prepare all 17 finalists for the competition, and I am proud to say that every one of them has transformed tremendously,” said Miss Universe Malaysia Organisation national director Carey Ng.

The crowning took place at the grand ballroom of the Shangri-La Hotel here last night that also saw Pauline Tan, 24, Kelly Jagan, 26, and Sugeeta Chandran, 26, walking away as first, second and third runners up respectively.

In addition to the dazzling display of exquisite evening gowns and stylish swimwear, the gala night also featured performances by entertainers that included Ning Baizura.

Miss Universe Malaysia is the longest running pageant in Malaysia, and has produced personalities such as Datin Josephine Fonseka, Yasmin Yusoff, Datuk Anna Lim, Elaine Daly, Andrea Fonseka, Nadine Ann Thomas, Deborah Henry, Kimberley Leggett and Ng.

Source: The Star Online - Malaysia

http://www.thestar.com.my/News/Nation/2015/04/18/Vanessa-crowned-new-Miss-Universe-Malaysia/

Help us search for MH370, kin ask of rich countries and firms - Voice370 - Malaysia

Posted: Saturday April 18, 2015
06:52 PM GMT+8

BY IDA LIM

KUALA LUMPUR, April 18 — As a year-long hunt for Malaysia Airlines’ Flight MH370 remains fruitless, the families of its passengers and crew today pleaded for rich countries and private companies to help speed up the search for answers.

Voice370 said it appreciated the recent declaration by three nations — Malaysia, Australia and China — to double the search area if the plane is still not found in the current search area. — Reuters pic - 

Voice370, the group representing the families of those aboard the missing plane, said it appreciated the recent declaration by three nations — Malaysia, Australia and China — to double the search area if the plane is still not found within the current 60,000-square-kilometre area of the southern Indian Ocean.

But Voice370 noted that harsh weather conditions during winter are expected to slow down the search, while the expanded search may take another year.

“We have waited an agonisingly long time,” the group told Malay Mail Online in an email response, acknowledging that there are limits to the three nations’ resources for the “enormous” task ahead.

“Therefore, once again, we appeal to all nations, especially the prosperous ones, as well as those with commercially active aviation industries to come forward with support.

“We would also like naval powers to assist in the search activities so that a larger area can be covered in a quicker amount of time,” the group said.

Voice370 said it hoped to see companies who are “dependent on the aviation industry for their prosperity to contribute towards the search”.

Dutch firm Fugro NV is currently under a US$41 million (RM149 million) contract to complete an underwater search for MH370 in a search zone of 60,000 square kilometres by this May. To date, 61 per cent of the search area has been scoured.

Questions have been raised on Fugro’s alleged lack of experience, but Australia’s Transport Minister Warren Truss said this Thursday that the firm was doing an excellent job with the “best equipment in the world” and had managed to deliver results, despite the challenging search conditions.

Voice370 said today that the family members are not technical experts and will accept Australia’s reassurance.

“We NOKs are not technical experts. If Australia says that’s the best there is, we will accept it at face value in good faith,” it said, using the initials for the next-of-kin (NOK).

“We appreciate the fact that the slow going is to ensure the thoroughness of the search. We accept the slow-going pace is in fact to ensure that a significant indication is not missed,” it added.

Following a tripartite meeting between Malaysia, Australia and China on Thursday, the three countries’ transport ministers announced the planned extended search that would chalk up the entire search area to 120,000 square kilometres.

The ministers said that “all high-probability search areas” where the plane is most likely to be located would be covered by the end of the extended scouring of the additional 60,000 square kilometres.

The search is jointly funded by Australia and Malaysia, with both splitting the A$120 million (RM325 million) pledged so far, while the expanded search is expected to cost an additional A$50 million.

The commercial jet used for Flight MH370 disappeared en route from Kuala Lumpur to Beijing on March 8, 2014 with 239 people on board.

(Ads Club : Key Storage Solution )

On January 29 this year, the Malaysian government declared the loss of Flight MH370 as an accident under international aviation regulations.

Source: The Malay Mail Online  - Malaysia

http://www.themalaymailonline.com/malaysia/article/help-us-search-for-mh370-kin-ask-of-rich-countries-and-firms

Cutting-edge Galaxy S6 fly off the shelves at stores - Samsung Galaxy S6 - Malaysia

Posted: Saturday April 18, 2015 MYT 12:00:00 AM

KUALA LUMPUR: Even before the doors flew open at the Samsung Experience Store in The Gardens Mall, there was already a long queue as fans were eager to get their hands on the new Samsung Galaxy S6 and S6 Edge.

The first in line was sales representative Fang Chii Chun, 42, who was in the queue before 8am to collect her pre-ordered Gold Platinum Galaxy S6.

“I can’t wait to collect my new phone. I was truly delighted when I was notified a day before that the first 50 in line would receive a signed racquet by Datuk Lee Chong Wei,” said Fang, adding that she found the gold shade very special.

Self-employed Peter Tang, 49, was a fan of the brand since Galaxy S3 hit the market.

Phone fans: A long queue of Galaxy fans forming at the Samsung Experience Store in The Gardens Mall, Mid Valley during the launch.

There is a high global demand for S6 and S6 Edge with pre-orders hitting the 20 million mark.

The Galaxy S6 Edge in Gold and Platinum were the most popular among Malaysians.

“The demand for Galaxy S6 Edge was higher than initially expected as it is slightly more costly than the Galaxy S6. The sleek design is one of the key features that attracts customers, together with the advanced camera functions, fast charging technology and colour varieties,” said Samsung Malaysia Electronics Mobile, IT and Digital Imaging vice-president Lee Jui Siang.

(Ads Club: FingerPrint Time Attendance System)

The Samsung Galaxy S6 and S6 Edge retail at RM2,599 and RM3,099 (including 6% GST) respectively with a 32GB storage option.

People look at Samsung Galaxy S6 phones during a pre-launch event in Singapore April 10, 2015. — Reuters pic - 

In addition, a total of 80 exclusive signed racquets were given out by brand ambassador Lee to lucky customers and winners of the ‘I want #myGalaxyS6’ contest at the event.

Source: The Star Online - Malaysia

http://www.thestar.com.my/News/Nation/2015/04/18/Cuttingedge-Galaxy-S6-fly-off-the-shelves-at-stores/