By Bernama
Wednesday, 23 January 2013 14:56
KUALA LUMPUR (Jan 23): Malaysia has the potential to transform itself into a real estate investment hub by 2020 with the completion of the mass rapid transit and the high speed railway linking Singapore.
Director of Ho Chin Soon Research Sdn Bhd, Ho Chin Soon, said while there are concerns over an oversupply situation, the free market will take care of itself.
“For example, there are some buildings that are still new and the rentals are too high. To attract rental, the landlords may need to introduce a rent-free period,” he said during the 6th Malaysian Property Summit 2013 on Jan 22.
“Infrastructure projects like the MRT system will determine market share. Infrastructure projects like highways will help townships in the outskirts,” he added.
Mega projects attracting attention include the Tun Razak Exchange, PJ Sentral, Warisan Merdeka and Bukit Bintang City Centre, he said.
“Government linked companies will take centre stage in future in terms of real estate development,” he said. – Bernama
Thursday, 24 January 2013
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Property stocks to do better this year: UBS
By Farah Wahida:
Although they failed to meet expectations in 2012, some residential property stocks are expected to perform better this year, according to UBS Investment Research.
Among them the best is Mah Sing Bhd thanks to its good management and ambitious plan to expand within Malaysia. Due to its diverse product range, the company’s sales and earnings are expected to grow by 20 percent this year.
“Our new price target for Mah Sing’s stock is RM2.80 based on a 30 percent discount in realisable net asset value (RNAV) of RM3.99 and the company has a dividend policy of paying a minimum 40 percent of net profit resulting in a forecast yield of 6.2 percent for 2013,” said the research unit.
Meanwhile, UBS gave a ‘buy’ rating on SP Setia, whose shares are currently being traded at 14.3 times the expected FY2013 price-to-earnings ratio, with yield at 4.1 percent.
“The stock is currently traded at a 38 percent discount to our RNAV of RM5.14.”
“This discount more than fairly reflects the risks associated with the departure of Chief Executive Officer Tan Sri Liew Kee Sin, diversification of projects outside of Malaysia and upcoming product launches from its high-quality landbank should ensure that the company achieves its aggressive sales target for financial year 2013.”
Furthermore, the sales of luxury properties in Malaysia were slow, while those of low- to medium-cost units (RM500,000 to RM1 million) were resilient. In addition, demand for premium condominiums and premium landed properties were weaker, noted UBS.
Although they failed to meet expectations in 2012, some residential property stocks are expected to perform better this year, according to UBS Investment Research.
Among them the best is Mah Sing Bhd thanks to its good management and ambitious plan to expand within Malaysia. Due to its diverse product range, the company’s sales and earnings are expected to grow by 20 percent this year.
“Our new price target for Mah Sing’s stock is RM2.80 based on a 30 percent discount in realisable net asset value (RNAV) of RM3.99 and the company has a dividend policy of paying a minimum 40 percent of net profit resulting in a forecast yield of 6.2 percent for 2013,” said the research unit.
Meanwhile, UBS gave a ‘buy’ rating on SP Setia, whose shares are currently being traded at 14.3 times the expected FY2013 price-to-earnings ratio, with yield at 4.1 percent.
“The stock is currently traded at a 38 percent discount to our RNAV of RM5.14.”
“This discount more than fairly reflects the risks associated with the departure of Chief Executive Officer Tan Sri Liew Kee Sin, diversification of projects outside of Malaysia and upcoming product launches from its high-quality landbank should ensure that the company achieves its aggressive sales target for financial year 2013.”
Furthermore, the sales of luxury properties in Malaysia were slow, while those of low- to medium-cost units (RM500,000 to RM1 million) were resilient. In addition, demand for premium condominiums and premium landed properties were weaker, noted UBS.
Gov't disapproves RM75b Balik Pulau project
By Farah Wahida:
The state government has refused approve the proposed RM75billion mega development project in Balik Pulau as many Penangites expressed their disapproval over the project, reported The Malay Mail.
According to several Penangites, the massive scale plan of the project would have a great effect in Malaysia’s fragile ecosystem and would affect Balik Pulau’s surroundings.
“Thank goodness the project was not approved. You cannot build something like this. It will never work. The environment is too fragile for a project this big. I love the earth and would not like to see it destroyed,” said 28-year-old Fadila.
Another resident, 30-year-old C.S Ngui said the project would affect the environment, adding that the scale of the project would cost much for an offshore development.
“Unlike the Iskandar project in Johor where land was only rezoned, this is actually an island by itself with oil and gas industries. Where would the material come from? Would it be another Lynas?” he said.
The proposed 2,833ha offshore development would have featured residential areas, hotels and schools as well as oil and gas R&D labs, electrical and electronic industries, government office and an artificial beach.
Al-Cube Sdn Bhd proposed the project to the state government in October last year, on behalf of its Hong Kong and Malaysian investors.
Moreover, investors have pulled out of Penang following negative comments on the proposed development.
The state government has refused approve the proposed RM75billion mega development project in Balik Pulau as many Penangites expressed their disapproval over the project, reported The Malay Mail.
According to several Penangites, the massive scale plan of the project would have a great effect in Malaysia’s fragile ecosystem and would affect Balik Pulau’s surroundings.
“Thank goodness the project was not approved. You cannot build something like this. It will never work. The environment is too fragile for a project this big. I love the earth and would not like to see it destroyed,” said 28-year-old Fadila.
Another resident, 30-year-old C.S Ngui said the project would affect the environment, adding that the scale of the project would cost much for an offshore development.
“Unlike the Iskandar project in Johor where land was only rezoned, this is actually an island by itself with oil and gas industries. Where would the material come from? Would it be another Lynas?” he said.
The proposed 2,833ha offshore development would have featured residential areas, hotels and schools as well as oil and gas R&D labs, electrical and electronic industries, government office and an artificial beach.
Al-Cube Sdn Bhd proposed the project to the state government in October last year, on behalf of its Hong Kong and Malaysian investors.
Moreover, investors have pulled out of Penang following negative comments on the proposed development.
Carrefour outlets undergo RM100m makeover
By Farah Wahida:
Aeon Co Ltd is investing RM100 million to refurbish and rebrand 26 Carrefour outlets here, following its successful acquisition of Carrefour Malaysia for €250 million (RM1 billion) in October 2012, reported The Sun Daily.
According to Nagahisa Oyama, Vice President and CEO for ASEAN region at Aeon, RM50 million will be used to rebrand Carrefour to Aeon BIG (M) Sdn Bhd.
The rebranding and refurbishment exercise are currently ongoing, but the former is set to be completed by April, while the renovation is scheduled for completion by year-end.
So far, two hypermarkets — one in Kota Damansara, Selangor and the other in Jalan Ipoh, Kuala Lumpur — have been fully rebranded and refurbished, noted Oyama.
“We are currently integrating Aeon and the former Carrefour to look into synergising our resources.”
“After the rebranding exercise, we expect to open three to four Aeon Big stores every year to compete with the existing players in the Malaysian hypermarket industry.”
Moreover, Aeon, a Japanese supermarket operator, has no plans to close any of the Carrefour Malaysia outlets, noting that it employs 4,000 workers.
Aeon Co Ltd is investing RM100 million to refurbish and rebrand 26 Carrefour outlets here, following its successful acquisition of Carrefour Malaysia for €250 million (RM1 billion) in October 2012, reported The Sun Daily.
According to Nagahisa Oyama, Vice President and CEO for ASEAN region at Aeon, RM50 million will be used to rebrand Carrefour to Aeon BIG (M) Sdn Bhd.
The rebranding and refurbishment exercise are currently ongoing, but the former is set to be completed by April, while the renovation is scheduled for completion by year-end.
So far, two hypermarkets — one in Kota Damansara, Selangor and the other in Jalan Ipoh, Kuala Lumpur — have been fully rebranded and refurbished, noted Oyama.
“We are currently integrating Aeon and the former Carrefour to look into synergising our resources.”
“After the rebranding exercise, we expect to open three to four Aeon Big stores every year to compete with the existing players in the Malaysian hypermarket industry.”
Moreover, Aeon, a Japanese supermarket operator, has no plans to close any of the Carrefour Malaysia outlets, noting that it employs 4,000 workers.
Mah Sing to launch Emaryl Condo Villa
By Farah Wahida:
Leveraging on the demand from Penangites and Singaporeans, Mah Sing Properties Sdn Bhd is set to unveil its Emaryl Condo Villa project in Batu Ferringhi in Penang this month, reported The Sun Daily.
The project features a resort-style living within a private gated village and is situated within Precinct 1 of the Ferringhi Residence, which is 15km away from Georgetown and less than one km from the Batu Ferringhi beach.
According to Teh Heng Chong, Chief Operating Officer of Mah Sing Properties, the condo villas are excellent for small families who want to escape the hustle and bustle of city life.
“It is ideal for small families, or foreigners who want to have a second home in Malaysia.”
Set to be completed in 2016, Emaryl Condo Villa comprises 20 five-storey blocks, with only 10 units in each building. The project will also feature six ‘articulated dreamscapes’ that enables residents to enjoy nature while doing activities with their families.
They include social gathering-space the Water Lounge, the Eco Street which consists of shady and green passageways linking the buildings, as well as the Flying Carpet, a bridge-like structure where residents can walk across several bodies of water.
Leveraging on the demand from Penangites and Singaporeans, Mah Sing Properties Sdn Bhd is set to unveil its Emaryl Condo Villa project in Batu Ferringhi in Penang this month, reported The Sun Daily.
The project features a resort-style living within a private gated village and is situated within Precinct 1 of the Ferringhi Residence, which is 15km away from Georgetown and less than one km from the Batu Ferringhi beach.
According to Teh Heng Chong, Chief Operating Officer of Mah Sing Properties, the condo villas are excellent for small families who want to escape the hustle and bustle of city life.
“It is ideal for small families, or foreigners who want to have a second home in Malaysia.”
Set to be completed in 2016, Emaryl Condo Villa comprises 20 five-storey blocks, with only 10 units in each building. The project will also feature six ‘articulated dreamscapes’ that enables residents to enjoy nature while doing activities with their families.
They include social gathering-space the Water Lounge, the Eco Street which consists of shady and green passageways linking the buildings, as well as the Flying Carpet, a bridge-like structure where residents can walk across several bodies of water.
Phase II of Melaka river projects features wilds animals
By Farah Wahida:
To lure more tourists, the Phase II of the Melaka Beautification and Cleanliness Project will be developed based on a safari concept, according to Chief Minister Datuk Seri Mohd Ali Rustam.
The second phase will cost RM285 million and will incorporate rich wildlife in an area spanning six kilometres. They include colourful flora and several species of animals that will be propagated along the river.
“The first phase of the Melaka River beautification project has been drawing more than one million visitors yearly, which has also generated up to RM9 million in revenue. In the second phase, improvements are made by applying the safari concept, similar to that found along the Singapore River.”
He said this during the Water Treating Technology Workshop at Casa Del Rio yesterday.
Phase II was unveiled on 21 May 2012 and stretches from Taman Rempah/Hang Jebat bridge to Melaka Sentral. Other additions include walkways, water taxis, landscape beautification and river bank protective features.
Meanwhile, on the workshop, Mohd Ali noted that some experts called on the state government to use oil and gas (O&G) cleaning technology to enhance the cleanliness of Melaka River.
“The cleanliness of the river is now at level three and through this technology, we hope it can be improved to level two, that will enable the river to breed certain type of fish and be safe for recreational activities.”
Furthermore, the state government will apply to the Ministry of Energy, Green Technology and Water for a pilot project utilising the technology, which is estimated to cost between RM800,000 and RM1 million.
To lure more tourists, the Phase II of the Melaka Beautification and Cleanliness Project will be developed based on a safari concept, according to Chief Minister Datuk Seri Mohd Ali Rustam.
The second phase will cost RM285 million and will incorporate rich wildlife in an area spanning six kilometres. They include colourful flora and several species of animals that will be propagated along the river.
“The first phase of the Melaka River beautification project has been drawing more than one million visitors yearly, which has also generated up to RM9 million in revenue. In the second phase, improvements are made by applying the safari concept, similar to that found along the Singapore River.”
He said this during the Water Treating Technology Workshop at Casa Del Rio yesterday.
Phase II was unveiled on 21 May 2012 and stretches from Taman Rempah/Hang Jebat bridge to Melaka Sentral. Other additions include walkways, water taxis, landscape beautification and river bank protective features.
Meanwhile, on the workshop, Mohd Ali noted that some experts called on the state government to use oil and gas (O&G) cleaning technology to enhance the cleanliness of Melaka River.
“The cleanliness of the river is now at level three and through this technology, we hope it can be improved to level two, that will enable the river to breed certain type of fish and be safe for recreational activities.”
Furthermore, the state government will apply to the Ministry of Energy, Green Technology and Water for a pilot project utilising the technology, which is estimated to cost between RM800,000 and RM1 million.
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