MAHB is currently registering annual sales of RM1.3bil from all 39 airports it operates. Of this, RM900mil is derived from sales at the KL International Airport (KLIA) in Sepang.

Faizah: ‘We will start awarding (retail concessions) in April.’

“We are currently evaluating tender bids for the first phase of retail concessionaires at KLIA2. We will start awarding in April.

“Everything has to be ready for operations by April 2013,” senior general manager, commercial services, Faizah Khairuddin said at a briefing on KLIA2 yesterday.

She explained that MAHB had called for tender in January for the first of three phases, comprising 27 units, and conducted a briefing last December.

She added that MAHB was awarding the concessions on a zone-by-zone basis so that interested parties would be able to see the development of surrounding areas.

KLIA2 will have 225 outlets, comprising 118 lots for retail, 81 for food and beverage, and 26 for services. KLIA2 has a total retail space of 35,200 sq m.

Faizah said the concessions would be awarded in three phases. Briefings for the second phase, which involves 39 units at KLIA2, will be on Feb 29 and March 6.

She added that MAHB projected annual sales of RM1.6bil in five years when KLIA2 was expected to be running at full capacity of 30 million passengers a year.

The airport operator is also targeting passenger spending of RM40 per pax compared with the current RM22 at the existing LCCT.

In its first year of operation, KLIA2 is expected to generate revenue of RM180mil, including from advertising space.

Source : Star Property

The fire, which started at around 3.30pm yesterday, destroyed 26 houses. It was brought under control by 4.50pm.

There have been reports that the fire may have been started by a mentally-ill man.

Health Minister Datuk Seri Liow Tiong Lai, who is also Bentong MP, rushed to the village after hearing about the fire.

He was accompanied by state executive council member Datuk Hoh Khai Mun and Ketari assemblyman Datuk Dr Ng Keong Chai.

Liow said the Government would issue immediate aid to the affected families and help them rebuild their homes.

“Each family will be given RM500 immediately. We will help raise more funds for them to rebuild their homes,” he said at the scene yesterday.

Hoh added that the state wel­-fare department was allocating another RM500 for the victims while he would be applying to the state government to allocate RM5,000 in emergency funds to the families.

Source : Star Property

According to Chin Yoke Ling, who invested RM75,000, people from all over Asia had invested to buy 12 plots of land in Alberta from Edge-worth Properties Inc from 2007 to 2011.

“According to the sale and purchase agreement, the company would buy back the land from us with a return of 60%, 80% or 100% within two to five years,’’ Chin told a press conference at the Selangor MCA Public Service and Complaints Department yesterday.

Chin, who had lodged a police report at the Jalan Travers police station on Monday, alleged that the company had failed to transfer the titles to the purchasers’ names as agreed upon in the sale and purchase agreement.

She claimed in the police report that Edgeworth had taken out mortgages on the land without informing the investors who had already paid for the land.

“The land is now encumbered by mortgages which has resulted in Edgeworth not being able to repay our investment capital,’’ said Chin who was among about 60 people who brought their grouses to the department.

Malaysian investors are said to have paid the Canadian company, through its local chapter Edgeworth Properties (M) Sdn Bhd, investments totalling RM76.5mil.

Edgeworth Properties Inc’s headquarters was in Ontario, Canada, while its Malaysian branch’s office was in Menara UOA Bangsar up to its closure last December.

The Malaysian branch’s former country manager Lee Kim Haw said the Canadian High Court had ordered all the company’s branches in Canada and Asia to be closed.

He said the court had also appointed a restructuring lawyer, an auditing firm and a developer to look into the matter to maximise recovery and save cost.

Lee, who resigned from the company in June last year, said the court had also ordered the interests of all the Asian investors to be protected.

Selangor MCA Public Service and Complaints Department chief Datuk Theng Book said that such an investment scheme was illegal in Malay-sia.

However, he noted that Edgeworth Properties had engaged a reputable legal firm here to process the investment documents.

He urged the investors to complain to Bank Negara about the investment scheme and to the Bar Council about the Malaysian legal firm that had represented the company.

“The Malaysian directors of the company must also be answerable to the investors here,” said Theng.

He added that the department would bring the matter up with Selangor MCA chairman Datuk Donald Lim who is Deputy Finance Minister.

“We will ask Lim to take up the matter with Bank Negara,’’ he said.

source : Star Property

MAHB is currently registering annual sales of RM1.3bil from all 39 airports it operates. Of this, RM900mil is derived from sales at the KL International Airport (KLIA) in Sepang.

“We are currently evaluating tender bids for the first phase of retail concessionaires at KLIA2. We will start awarding in April.

“Everything has to be ready for operations by April 2013,” senior general manager, commercial services, Faizah Khairuddin said at a briefing on KLIA2 yesterday.

She explained that MAHB had called for tender in January for the first of three phases, comprising 27 units, and conducted a briefing last December.

She added that MAHB was awarding the concessions on a zone-by-zone basis so that interested parties would be able to see the development of surrounding areas.

KLIA2 will have 225 outlets, comprising 118 lots for retail, 81 for food and beverage, and 26 for services. KLIA2 has a total retail space of 35,200 sq m.

Faizah said the concessions would be awarded in three phases. Briefings for the second phase, which involves 39 units at KLIA2, will be on Feb 29 and March 6.

She added that MAHB projected annual sales of RM1.6bil in five years when KLIA2 was expected to be running at full capacity of 30 million passengers a year.

The airport operator is also targeting passenger spending of RM40 per pax compared with the current RM22 at the existing LCCT.

In its first year of operation, KLIA2 is expected to generate revenue of RM180mil, including from advertising space.

source : Star Property

He said the exercise came under the purview of the Malaysian Communications and Multimedia Commission’s (MCMC) Time 3 Programme, aimed at bridging the digital divide between rural and urban areas.

“The Government recognises the importance of ICT (information and communication technology) and our efforts have ensured that communities living in rural areas were now enjoying almost the same level of connectivity and broadband facilities as the urban population,” he said.

Salang, who added that 84% of the country had cellular coverage now, said the “Wireless Village” programme, which was launched last year, had improved connectivity in 1,610 rural areas.

“In addition to this, MCMC has also set up Community Broadband Centres and Community Broadband Libraries, where collective access to broadband facilities is shared by the community in rural areas,” he said after launching the DMD M3 Android Smartphone Communicator with Near Field Com­munication connectivity at the KL Tower yesterday.

“The DMD M3 is affordable and will make integrating ICT and the Internet into one’s daily business more appealing, especially to those who may find prices (of other smartphones) in the market a barrier,” he said.

He lauded DMD Mobile Sdn Bhd for developing and manufacturing Malaysia’s first Android smartphone and hoped that more communications and multimedia service providers would work with manufacturers to come up with more innovative and affordable devices.

The DMD M3 smartphone, which is expected to cost about RM500, will be available in the market in April.

Source : Star Property

External uncertainties, the general election factor on the local front and a general wariness about a possible bubble in the Malaysian market had dampened the market, said iProperty Group chief executive officer Shaun Di Gregoria.

“We are seeing a reduction in volume for the top-end market. Rental is also expected to come off a bit for the top end,” he said after launching the result of an online survey at iproperty.com.my conducted from Dec 5, 2011 to Jan 19, 2012 involving 3,459 respondents.

The findings are supported by telephone interviews with two property agents.

Despite that, Di Gregorio said, Malaysians were expected to continue to be upbeat about the property market, with interest seen mostly in properties priced between RM400,000 and RM500,000.

The survey revealed that 35.7% of the respondents considered themselves property buyers while 26.2% identified themselves as property owners.

This is part of the first cross-market online property survey conducted by the iProperty Group covering Singapore, Indonesia, Hong Kong and Malaysia that attracted about 8,500 respondents.

Di Gregorio said although various measures had been taken by the authorities to discourage speculation, the Malaysian property market continued to be friendly to buyers.

He said Malaysia was the number one destination for Singaporeans as property prices here were still affordable to them.

“Yield in Singapore and Hong Kong is low because of the high capital cost there. The United States and Europe have their own challenges, so South-East Asia will increase in popularity, with Malaysia being a good market to be in throughout this year. There is positive sentiment to invest here,” he said.

About 40% of the Singaporean respondents said Malaysia was their preferred destination, followed by Australia (19.4%).

Meanwhile, about 40% of Malaysians considered Australia as their preferred overseas property investment destination, 19.8% liked Singapore and 13.7% chose the United Kingdom.

While iProperty Group paints a positive picture of the local property market, 58.6% of those who responded to the survey in Malaysia believed there is a property bubble in this country versus 53.85% of those who responded in Singapore.

On a larger scale, the drop in transaction volume is also reflected in the Asia-Pacific. A quarterly report by the Asia Pacific Real Estate Association (APREA) and Real Capital Analytics said there was a 32% drop in real estate transaction in the Asia-Pacific year-on-year to US$85.3 bil as at Dec 31, 2011.

“It moderated by as much as 18% since the end of the third quarter last year,” APREA said in a statement.

“Concerns over the eurozone debt crisis contributed to the moderation in the fourth quarter. A strong performance by Singapore helped mitigate the declines in other countries,” said APREA chief executive officer Peter Mitchell.

The decline was seen across all industry segments. Transactions in hotels fell 23%, commercial property 20%, land 17%, and apartments 8%. Stripping out land transactions, Japan led in regional sales volume, accounting for 22% of the fourth-quarter sales. This was followed by Australia with 17% and Singapore, 16%.

“Transactions in the region are continuing to be dominated by domestic players,” Mitchell said.

source : Star Property

A source said the decision to sell the estate was made on his capacity as the private owner of the land and had nothing to do with the group and its subsidiaries.

“The land is suitable for developers planning to embark on a mixed property development project or for oil palm planters,’’ said the source.

It said if a property developer was a successful bidder, he had a choice of starting the property project on the land within a year or two after concluding all the relevant documents and transfer of ownership.

Or the developer who did not mind holding to the land could also wait for the planted oil palm trees to mature and harvest the crops for the next 20 or 25 years.

Asked what might have prompted Ku to want to dispose of the estate instead of harvesting the crops in years to come with a steady revenue, the source said he probably wanted to focus on the company’s core business.

Presently, KSL has four major on-going projects in Iskandar Malaysia – KSL City, Taman Nusa Bestari, Taman Bestari Indah, Taman Kempas Indah and Bukit Mutiara@Nusajaya.

The company is expected to launch the RM2.5bil Bandar Bestari – a mixed development project in Klang – and 50 units of high-end apartments in Jalan Madge off Jalan U Thant in Kuala Lumpur with a gross development value of RM200mil this year.

The 224.15ha land is mostly planted with about four-year old palm trees in three adjoining lots. The land is located at Kangkar Sungai Tiram, at the confluence of Sungai Johor with Sungai Tiram, about 17km from Ulu Tiram town. The public auction of the oil palm estate will be held March 2.

A senior manager from a public-listed company said the land’s location would be good for a waterfront mixed development project.

Source : Star Property

“We can consider this. I will definitely look seriously at this.

“For example, the import duties on such materials,” said Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui after he witnessed the signing of a memorandum of agreement between property developer Ken Holdings Bhd and Universiti Tunku Abdul Rahman (Utar) to undertake collaborative research and develop green technology in housing construction.

Chin reiterated that the Government already provided tax deduction incentives for building developers concerning the additional costs of achieving accreditation as being environment-friendly by rating tools such as Malaysia’s Green Building Index (GBI).

Meanwhile, the ministry is aiming to promote the implementation of green projects this year, under the Government’s Low Carbon Cities Framework (LCCF), by the authorities in five locations, namely Miri (Sarawak), Pulau Sah Besar (Kenyir Lake, Terengganu), Universiti Malaya, Port Dickson (Negri Sembilan) and Hang Tuah Jaya (Ayer Keroh, Malacca).

Chin said this was among the Ministry’s KPIs (key performance indicators) this year.

Chin also pointed out that there were efforts to implement the use of green technology in Government buildings.

“Many government buildings are old, and were not designed to comply with GBI. We are trying to implement and retrofit (green elements) and eventually, we may be able to call Putrajaya and Cyberjaya green communities.

“We have discussed this with Putrajaya Holdings Sdn Bhd and Sepang Municipal council,” he said.

Chin said the Works Ministry was spearheading efforts concerning green government buildings, and had proposed minimum standards for certification.

He also said the ministry was compiling details on energy usage by the various ministries, and would submit a report to the Cabinet at the “appropriate time.”

Also, according to the Ministry, about RM607mil under the Green Technology Financing Scheme has been approved for 36 projects since the scheme started in January 2010.

The scheme can benefit companies which are producers and users of green technology.

Under the GTFS, the Government would bear 2% of the financing interest, and in addition, provide a guarantee of 60% on the financing amount via Credit Guarantee Corp Malaysia Bhd (CGC).

Meanwhile, the collaboration between Utar and Ken Holdings would focus on developing an energy-efficient design system for housing, by using heat insulated roofing sheets, walling blocks and panels.

Ken Holdings would provide Utar with materials for the collaboration, which would include building an “experimental village” in the Ken Rimba township in Shah Alam.

Source : Star Property

Johor Baru MCA youth chief Kua Song Tuck said he had received many complaints from the public especially Malaysians working in Singapore about the charges.

“These people travel to Singapore daily and are worried that they will not be able to survive if the proposed toll which is five times the present amount is implemented.

He explained that the government should seriously conduct a proper survey and suggest a reasonable amount for the toll,” he said during the protest conducted along Jalan Lingkaran Dalam on Thursday.

He said the government should seriously look into the matter as it affected thousands of motorists and could be used against them by the Opposition.

It was previously reported that the 8.1km EDL would force all motorists travelling to and from Singapore to pay about five times more than the present RM2.90, both ways.

The RM1.1bil EDL, developed by MRCB Bhd, linking the North-South Expressway to the Johor Baru Customs, Immigration, Quarantine Complex, is aimed at reducing congestion in the city area.

The EDL is directly linked to the North-South Expressway.

Source : Star Property

Muar district officer Amran Abdul Rahman said Johor Ruler, Sultan Ibrahim Sultan Iskandar had decided on the matter and the Public Works Department would design the landmark.

He said other districts too would have similar landmarks but they would be installed in conjunction with the Sultan’s coronation in 2013.

“The Sultan recently declared Bandar Maharani as the royal town of Johor at the state-level Maulidur Rasul gathering here on Feb 5.

“We had discussions with the Sultan after that and consulted with the him that there should be an official occasion to declare the town as a royal town,” he said in an interview on Wednesday.

Following the Sultan’s agreement on the matter, Muar had planned to set up the landmark before the official declaration, which was expected to be within this year.

He said the elephant tusk landmark would be set up in five areas and would also have the words ‘Bandar DiRaja’.

He said the areas identified were at the bridge in the town, Muar’s second bridge near Sabak Awor, near the Pagoh toll plaza, along the Yong Peng – Muar road and along the Batu Pahat – Muar road.

However, he said, if all the five projects could not be completed this year, two landmarks would be constructed initially to commemorate the day of declaration.

“We were actually surprised when the Ruler decided to declare this town as the royal town of Johor.

“However, we are honoured and grateful to the Sultan and will do our best in keeping the town clean and beautiful,” he said.

Amran also said that three complexes – the old Muar courthouse along Jalan Petri, the old Talikom Malaysia building along Jalan Majidi and the Tanjung Emas Marina, which belonged to the Federal government, had been passed over to the state.

He said both the old courthouse and the Talikom Malaysia buildings were handed over except for the Tanjung Emas Marina as there was still outstanding monies owed to the Harbour Master’s Department.

He said there were plans to turn the old courthouse into the district’s Syariah Court but there were also suggestions for it to be turned into a museum.

“We will let the state decide on the future use of the buildings.

Source : Star Property