MONTH: OCTOBER 2012 ISSUE NO: 10/2012

Property

News

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Issue No. 10: 1 - 31 October 2012

GENERAL ECONOMIC & PROPERTY MARKET

1. Naza TTDI, lend lease join hands to develop RM4 billion GDV of mixed development (The Edge, 02- October-2012) . Naza TTDI and Australia’s lend Lease will join hands to develop a 4.376-hectare of land into a mixed development with a gross development value of RM4 billion. . In a statement, the property arm of Naza Group of companies said the development, which would be at its KL Metropolis flagship development, would comprise a regional retail centre, office, hotel and residences. . Based in Australia, Lend Lease is a fully integrated international property and infrastructure group.

. Naza TTDI Deputy Executive Chairman and Group Managing Director SM Faliq SM Nasimuddin said the GEN collaboration augured well for the company’s aspiration and vision to position KL Metropolis as Kuala

Lumpur’s international trade and exhibition district. E

. This is where a hub for retail and commercial activities, as well as, residences would be created to RAL complement the new Matrade Exhibition centre that was expected to take shape in 2015, he said. . He added, the collaboration would bring together the resources and experience of both parties in their

ECONOMIC & PROPERTY MARKET & PROPERTY ECONOMIC respective areas of expertise and hoped to see the realization of the joint venture by year-end. . With a gross development value of RM15 billion, KL Metropolis is Naza TTDI’s 30.2-hectare project that is poised to propel the country as a preferred meetings, incentives, conventions and exhibitions (MICE) destination in the region.

2. Glomac optimistic about hitting another year of record sales at RM800 million (The Star, 08- October-2012) . Glomac Bhd is optimistic about achieving another financial year of record-breaking new property sales. . For its financial year ended April 30, 2012, the property developer had chalked up record sales of RM663 million. . Glomac has a pipeline of future projects with a total gross development value (GDV) of RM7 billion, out of which RM1.13 billion is targeted to be launched in financial year 2013. . Glomac Group Managing Director and Chief Executive Officer Datuk FD Iskandar said usually the company hit 80% - 85% (sales of new property launches) and thus, is expected to have at least RM800 million of sales in financial year 2013. . He added that Glomac is on track to achieve its target as it had achieved new sales of RM212 million for its first quarter ended July 31, 2012. . Key drivers for the group’s sales in financial year 2013 will be Lakeside Residences in Puchong, Phase 4 of Plaza Kelana Jaya, and the townships of Bandar Saujana Utama and Saujana Rawang. . It should be noted that for 2012, Glomac had posted record revenue of RM652.4 million (increase of 9.2% year-on-year) and net profit of RM85.2 million (increase of 35.2% year- on-year), which was mainly due to key projects such as Glomac Damansara and Glomac Cyberjaya 2, as well as the final billings from the completed Glomac Tower. . There are also plans for residential development over 200 acres in Sungai Buloh, which is next to the group’s Bandar Saujana Utama development, and 191 acres in Dengkil, Sepang, to tap demand from middle-income home buyers. . Both parcels are expected to have a GDV of RM800 million each.

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. It was also noted that the recent launch of 105 units of 2-storey terraced houses with a GDV of RM75 million at the group’s Lakeside Residences development in Puchong, was fully sold through balloting. . Lakeside Residences is a mixed development with a GDV of RM2 billion, and there are plans for about 6,000 residential units to be launched within the next 6 years. . About 20% of the units will be landed homes, with the balance being high-rise units.

3. Naim targets RM3bil REIT with ‘mini KLCC’ project (The Star, 13-October-2012) . Naim Holdings Bhd is the latest property group to express ambitions of having its own real estate investment trust (REIT), with a target size of RM3 billion. The plans, though, are in early stages, but will include new developments such as its mini KLCC project, which has yet to be named, at the old Bintulu

Airport, that carries a gross development value (GDV) of some RM2billion. GEN . This puts the Sarawak-based Naim Holdings, which also has a significant construction arm, in the same

category of companies such as TA Global Bhd and KLCC Property Holdings Berhad, which has in recent E

times expressed interest in forming their own REITs. MARKET & PROPERTY RALECONOMIC . Both property and construction arms contribute equally to the company revenue. . Senior Director for Corporate Services Ricky Kho said, the company planned to launch the REIT in six to nine years, when its property assets had reached a sufficient size. . It is the company’s long-term plan to generate recurring income and gain in property value. He said, adding that the REIT would allow the company to manage the tenant mix of its commercial property units to maintain the dynamic and vibrancy of the entire development. . If all goes as planned, Naim Holdings’ REIT will be the first Sarawakian REIT. . The properties that will be injected into the proposed REIT include Naim Holdings’ completed two storey Miri Permy Mall. The remaining REIT properties that have yet to be completed are the development of the old Bintulu Airport, a mixed-development in Batu Lintang in Kuching, Pantai Piasau Residences and Piasau Camp in Miri. . Permy Mall’s occupancy rate is 94% and it is expected to generate rental income of RM8 million per annum. It is already giving us a return of 12% on rental income, Kho said. . The total development cost, including land and building for the Permy Mall, stands at RM52 million. As at 31st December 2011, the estimated fair value for the building and land was RM85 million and RM3.6 million respectively. . Naim Holdings aim to develop a mini KLCC at the old Bintulu Airport situated in the New Bintulu City Centre, with a GDV of RM2 billion. . It will consist of shopping complex, condominiums, SOHO (small office home office) units and hotels, Kho said.

. The whole project will take about 10 to 15 years to be fully complete. The company will launch the shopping complex worth about RM400 million early next year. . Naim Holdings will be developing a 34-acre site in Batu Lintang, Kuching, for a mixed development with a GDV of RM1.8 billion spread over 20 years. The company will build the residential segment by the end of 2013. . The company has a landbank of about 2,620 acres with an estimated GDV of RM9.5 billion. He mentioned that the company was still looking to increase its landbank in the Samaluju area in Bintulu. . The Sarawak-based company has about RM1.3 billion in its construction orderbook, which is mainly for infrastructural work in the Sarawak Corridor of Renewable energy (Score). . Score is one of the five regional development corridors initiated by the Federal and Sarawak state government to develop and transform Sarawak into a developed state by 2030.

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. The corridor will encourage investments in power generation via energy resources like hydro-power, coal and natural gas, which have been found in Sarawak’s central region. . The company was recently awarded a RM208.2 million contract via its wholly-owned subsidiary, Naim Engineering Sdn Bhd, for one of the work packages under the Klang Valley Rapid Transit project in .

4. Exclusive Ken Holdings to develop land near Genting (The Edge, 15-October-2012) . Ken Holdings Bhd plans to build a mixed development property spanning 5 acres atop the popular highlands gateway. . According to the Ken Holdings Bhd’s Executive Chairman Datuk Kenny BK Tan, there are a lot of facilities in Genting but not many condominium or apartments. Plans are on the drawing board for a mixed

development commercial land near the casino. GEN . He added that the company will be submitting plans to relevant authorities for the 5-acre land that is situated close to the bus station.

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. Currently, Ken Holdings has close to 20-acre of land in the Genting vicinity and a 10-acre plot in Melaka City MARKET & PROPERTY RALECONOMIC Centre. . According to Tan, Ken Holdings is exploring opportunities in Melaka and Kelantan. However, they are still considering the Melaka project due to its unfavorable conditions. Furthermore, the land will be sold if the conditions are not supportive. . As for Kelantan, Tan said the company is in the midst of finalising details of a joint venture with the Kelantan State development Corporation (PKINK) to build green buildings in Kota Bharu. . Meanwhile, Tan said that its shareholders are pleased to approve the acquisition of Gadini Sdn Bhd, which owns 22.8 acres of land in Johor Baru. . Ken Holdings is to submit its master plan to the authorities next month and is expected to begin works by 2013.

5. Menara Binjai wins sustainability award (Business Times, 16-October-2012) . Menara Binjai which is designed by award-winning Malaysian firm Veritas Architects, clinched the top spot in the coveted sustainability category. . It beats two other finalists, the award-winning UAE Pavilion in Abu Dhabi by Tourism Development and Investment Corp and Masdar Institute of Science and Technology (M.I.S.T) by MASDAR. Both buildings are designed by Foster and Partners of the UK.

. The award ceremony was held on October 3 in Dubai. . Chua Guan-Hock, a Director of the Developer Khor Joo Saik Sdn Bhd attributed the win to the board and consultants who worked hard as a team. . He said the award is extremely meaningful and a stamp of approval of the tower's outstanding sustainability, as a market leader in and the Asia Pacific region. Competing and winning against outstanding developments adds to the satisfaction of this acknowledgement. Menara Binjai, a 35-storey green office tower, is located next to the Ampang LRT station

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. Menara Binjai is a 35-storey green office tower, located right next to Ampang LRT station. . It is the first dedicated officer tower in Malaysia to be awarded dual green certification - Malaysia's Green Building Index Design Assessment for GBI Certification and a Green Mark Gold CerPficaPon (Provisional) by Singapore's Building and Construction Authority. . The office tower was completed in July 2012 and new tenants, which include the British High Commission, have already begun moving in.

6. Property showcase for home and abroad (The Sun, 17-October-2012) Event Malaysia Property Expo (MAPEX) Organiser REHDA Malaysia, REHDA Wilayah Persekutuan (KL) and REHDA Selangor. Date 19th – 21st October 2012 Venue Mid Valley Exhibition Centre Purpose To assist the home buying public in making informed decisions in their property investment. GEN Theme Home and Abroad

Participants . 70 local property developers : E

SP Setia Berhad, Sime Darby Properties, Perbadanan Kemajuan Negeri Selangor (PKNS), IJM MARKET & PROPERTY RALECONOMIC Properties Sdn Bhd, Lebar Daun Sdn Bhd, Sunway Integrated Properties, Glomac Berhad, Kota Kelang Development Sdn Bhd, Berjaya Land Bhd, Ken Rimba Sdn Bhd and etc. . Foreign property developer known as Salvo Property Group . Financial Institutions : CIMB Bank, Maybank, Bank Islam, Citibank, Standard Chartered, RHB Bank, Bank Simpanan and etc. . Agencies : Tribunal for Homebuyers Claims, the Treasury Housing Loan Division, Jabatan Penilaian dan Perkhidmatan Harta Wilayah Persekutuan, EPF (KWSP) and the National Housing Department of the Ministry of Housing and Local Government. Notes . MAPEX Oct 2012 is the second and the final in the series of Klang Valley MAPEX for year 2012. . MAPEX is well-established as the premier and largest convenient one-stop centre in bringing together a wide range of innovative property developments from under construction to completed properties, and attractive financial packages for potential purchasers and investors.

7. KL growing upwards : Modern superstructures to replace old buildings in Jalan Sultan Ismail (The Star, 19-October-2012) . The landscape of Jalan Sultan Ismail in Kuala Lumpur will undergo a dramatic change over the next 10 years with several ageing buildings being demolished to make way for new structures. . Several iconic landmarks which have dotted the skyline for four decades will make way for sustainable modern superstructures to boost the image of the area. . Following the demolition of the Equatorial Hotel Kuala Lumpur in July, there are now plans to bring down

the 40-year-old Crowne Plaza Mutiara KL as well as the 30-year-old Kompleks Antarabangsa early next year. . There are also talks involving the redevelopment of the 21-year-old Hotel Istana in the near future. . Kuala Lumpur City Hall (DBKL) spokesman confirmed it had received an application for a development order for Crowne Plaza Mutiara and Kompleks Antarabangsa. . The project is a mixed development comprising a hotel, office blocks and apartments with a structure measuring 65 storeys. . Industry experts such as town planners, architects and developers are calling this new method of demolish and build over a new trend for the future that will see more areas in downtown Kuala Lumpur being transformed into vertical cities.

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. Malaysian Institute of Planners (MIP) President Professor Datuk Dr Alias Abdullah said, generally when a city grows, it will move horizontally. But as time goes by and land becomes scarce, cities will have to grow vertically, like what is happening now in downtown Kuala Lumpur. . He added, the practice of old hotels being rebuilt from scratch is common in other regions in Asia but these are not necessarily heritage buildings with historical significance. . This is a point that is agreed upon by Malaysian Institute of Architects (PAM) President Saifuddin Ahmad, who added that Kuala Lumpur is ready to welcome the culture and that older buildings like Equatorial and Crowne Plaza must be revamped to make it more sustainable.

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RAL ECONOMIC & PROPERTY MARKET & PROPERTY RALECONOMIC

To come down: Crown Plaza Mutiara Hotel and Kompleks Antarabangsa will make way for new buildings.

8. Legalisation scheme for factory, land owners (The Sun, 22-October-2012) . The legalisation scheme is similar to the Land Ownership Scheme where landowners may pay a premium of RM1,000 to acquire a grant or extend their lease. . Mentri Besar Tan Sri Abdul Khalid Ibrahim said in both cases, landowners must pay the full premium, based on the current market price, if they want to sell the land to a third party. . He said that this legalisation programme will not allow any adviser or agent to act as an intermediary. If any problems occur, a factory or landowner must deal directly with the local authorities. . He added, the programme ends in December and no extension period would be given. . If the state government takes over the agricultural land that has not been converted to commercial, the compensation that is given will be based on agricultural land prices. . However, if the land is converted but the owner has no plans to develop it, and surrenders the land to the state government, the compensation that they get will be higher.

9. Dijaya sees record RM765 million property sales (Business Times, 22-October-2012) . Dijaya Corp Bhd (Dijaya), well-known for the Tropicana Golf & Country Resort and award-winning clubhouse in Petaling Jaya, is upbeat on achieving record-breaking sales of RM765 million in the current year. . The optimism is based on recent launches like Golf Villas in Tropicana, as well as Phase 1 of its RM3.8 billion Tropicana Danga Bay development in Iskandar Malaysia, Johor and the RM1.8 billion Tropicana Gardens in Kota Damansara, Selangor.

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. Despite global uncertainties and stricter rulings by Bank Negara Malaysia on loan approvals, the company recorded positive sales. . When the Main Market-listed developer launched Phase One of Tropicana Gardens on October 12, it achieved 100% sales within 48 hours. . Phase 1, called Arnica Residence, comprises a block of serviced apartments with 400 units. . The units range from the 597 sq ft studio to the 2,700 sq ft penthouse, worth RM230 million collectively. . Tropicana Gardens is purposefully designed to draw on the strengths of the location while offering residents the hallmark of our Tropicana brand of properties. . According to Dijaya Deputy Managing Director Dickson Tan, in light of the encouraging response shown, the developer will launch Phase 2 of the serviced residence soon. . The 7.05-hectare Tropicana Gardens is a vibrant urban hub that offers a diverse component of serviced residences, mall, cinema, hotel, offices and SOHO. . It is situated at Persiaran Surian and easily accessible via North Klang Valley Expressway, Lebuhraya Damansara Puchong, Sprint Highway and Penchala Link. . For 2013, Dijaya is aiming to launch projects worth a combined RM2.3 billion. They include Tropicana Metropark in Subang, W Residence in Kuala Lumpur, Tropicana Cheras, Tropicana Landmark in Kota Kinabalu, Sabah, and its projects in Johor and Penang. PROPERTY RESIDENTIAL . In Johor Baru, Dijaya is expecting strong sales from its Tropicana Danga Bay development, and the RM2.9 billion Tropicana Danga Cove. . Elsewhere in Penang, Dijaya has a joint venture development with Ivory Properties Group Bhd to develop Penang World City, which is estimated to rake in a GDV of RM9.8 billion. . Analysts said that the projects will be launched in several phases, taking more than five years to complete. This means Dijaya is on solid grounds for its targeted sales to exceed RM765 million.

RESIDENTIAL PROPERTY IN KLANG VALLEY

10. Dijaya is confident of selling W Residences at RM2,000 psf (The Star, 03-October-2012) Project / development W Hotels & Residences

Developer Dijaya Corp Bhd (partnership with Starwood Hotels & Resorts Worldwide) Designer Skidmore, Owings & Merrill LLP from New York Location , Kuala Lumpur (across the Petronas Twin Towers) Development type / . Hotel : 150 rooms unit . Service apartment : 353 units Development area 1.28-acre Expected price Service apartment: RM2,000 per sq ft Notes . Dijaya Corp Bhd is confident that W Residences will receive strong interest due to the recent service apartments transacted at an average price of RM2,500 per sq ft known as the Bayan Tree Signatures (Banyan). . Launched in September 2012, all of the Banyan 173 service apartments are fully sold. The Banyan is developed by Lumayan Indah Sdn Bhd and located on a 1.46-acre plot at the junction of Jalan Conlay and jalan Raja Chulan.

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11. Sonata at Lakeside Residences sold in a day (The Edge, 05-October-2012) Project / development Sonata (Phase 2) Developer Glomac Bhd Location Lakeside Residences, Puchong Development type / 105 units of 2-storey terrace houses units (4 rooms + 3 bathrooms + a covered car porch for 2 cars) Tenure Leasehold Development area 8-acre Gross Development RM75 million value (GDV) Launching date 21st September 2012 Completion date 24 months after the date of the sale and purchase agreement (SPA) An artist’s impression of Sonata Built-up area 2,120 sq ft – 2,358 sq ft Prices RM680,000 – RM937,521 Facilities The 200-acre guarded Lake Residences development comes with: . Clubhouse . Recreational area

RESIDENTIAL PROPERTY RESIDENTIAL . Parks . Jogging path Favourable factors . Strategically located within the popular growth corridor of Puchong which is surrounded by mature townships and amenities. . Good accessibility via the Damansara Puchong Highway (LDP) and the New Klang Valley Expressway (NKVE). . Accessibility will be enhanced due to the upcoming LRT extension line that passes through Tesco and IOI Mall. . Proximity to commercial centres such as IOI Malls, Setia Walk and IOI Boulevard. . Near to institutes of higher learning such as Sunway University and Taylor’s University Lakeside Campus. Notes . By the end 2012, Glomac Bhd plans to introduce phase 3 of Lake Residences, comprising 139 units of 2-storey terraced houses. . The 1st phase known as Rhapsody launched in 2006 is fully sold. This phase comprises 102 units of 2-storey terraced houses with built-up of 2,100 sq ft. Prices for the units start from RM325,000.

. Including Sonata, Glomac Bhd will have used up 20-acres of the entire 200-acre parcel. . Glomac Group Executive Chairman Tan Sri F D Mansor said it will take about 5 to 6 years to utilise the entire parcel of land.

12. Nadayu plans smaller bungalows in Melawati project (The Edge, 12-October-2012) Project / development Nadayu Melawati (new phase) Developer Nadayu properties Bhd Location Ulu Klang, Selangor Development type Bungalow houses Tenure Freehold Gross Development RM100 million value (GDV) Launching date . Open for registration by the end of October 2012 . Expected to be launched before year-end Land area / 7,000 sq ft Built-up area 4,500 sq ft – 5,000 sq ft

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Prices . The new bungalow units will be priced from RM 3.9 million. . The older units sold from RM5.5 million with built-up area from 6,477 sq ft – 8,301 sq ft. Notes . The new bungalow units will be built on a higher elevation than the existing bungalows in Nadayu Melawati. . Nadayu Melawati is an 80-acre residential enclave comprising superlink houses, semi-detached houses, bugalows, high-rise homes and a commercial component with an estimated development value (GDV) of RM1 billion. . Future developments in Melawati: . Apartments with built-up from 600 sq ft – 1,200 sq ft which will be developed close to the entrance of Nadayu Melawati. Prices are tentatively pegged at RM400 per sq ft to RM500 per sq ft, depending on new developments coming up area. . A RM500 million mall by CapitalMalls Asia and Sime darby Property Bhd. The mall, expected to come up on a 5.5-acre freehold site by 2016 with about 635,000 sq ft of net lettable area, is the first of such development in the affluent township and will tap a catchment of 800,000 people.

PROPERTY RESIDENTIAL

An artist’s impression of houses in Nadayu Melawati, Ulu Klang Selangor

13. Quality life at Solstice : Mixed development project to be ready by 2015 (The Star, 19-October-2012)

Project / development Solstice (Pan’gaea PH 2) Location Persiaran Bestari, Cyberjaya Developer OSK Property Holdings Bhd Development type / . 2 blocks of 35 and 39 stories apartments with units total units of 946 duplex and Small Office Flexi Office (SoHo). . Unit types are available for 1, 2+1 or 3 bedrooms. Built-up 450 sq ft, 880 sq ft and 900 sq ft Developer price RM302,800 and RM610,800 Features / facilities . Fully furnished . 1 or 2 parking bays . Garden terraces and water features area . Thematic gardens at every floor . Sun and sky deck . Jacuzzi An artist’s impression of Pan’gaea

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Favourable factors . Situated close to amenities such as the Cyberjaya Transport Terminal where the free shuttle buses stop as well as landmarks like the Multimedia University. Notes . OSK’s Senior Manager of Sales and Marketing Chee Kok Kong described Pan’gea as a self- sustaining project as it also comprises Paragon with its SoFo suites and boutique retail spaces, that is expected to be completed by 2015. . He added, OSK will also develop a shopping mall named Gallery that offers approximately 500,000 sq ft of lettable retail space, a street mall Patio that has alfresco dining, terraces and seating lounges as well as a boutique hotel and boutique apartments.

14. Ambitious architecture: New residential project to take shape in Subang (The Star, 19-October-2012) Project / development Arte @ Subang West Location Subang, Selangor Developer Nusnetro Land Sdn Bhd Development type Residential (duplex unit) Built-up - Developer price From RM450,000 Construction date January 2013 (expected) Completion date 2015 (expected) Key feature One of the key features of Arte @ Subang West is the glass cube lounge :

RESIDENTIAL PROPERTY RESIDENTIAL . It will be built with the sole purpose of providing a chill zone for residents and their guests. . It is a 3-storey structure that will be clearly visible from the New Klang Valley Expressway (NKVE) and Federal Highway. . The cube can hold up to 80 people at one time. . The lowest floor will be a place for recreational activities such as pool and darts. . The middle storey is a bar. . The third level is the relaxation area. . The cube will be furnished with Vondom lighted furniture by renowned designer Karim Rashid.

An artist’s impression of Arte @ Subang West

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RESIDENTIAL PROPERTY IN SOUTHERN PENINSULAR

15. Encorp launches Encorp Marina Puteri Harbour (The Edge, 17-October-2012) Project / development Encorp Marina Developer Encorp Bhd Location Iskandar, Johor . Located 10 minutes away from the Tuas check-point in Singapore. . Located 30 minutes from Singapore’s central business district. . Located 20 minutes by water taxi to Singapore’s Raffle’s Marina. Development type High-rise development comprising: . 2 towers housing 538 service residences . Retail podium Tenure Freehold Gross Development RM500 million value (GDV) Launching date 16 October 2012 Completion date 2015 (expected)

RESIDENTIAL PROPERTY RESIDENTIAL Target buyers Local and foreign buyers with anticipated interest from Malaysia, Singapore and Indonesian buyers. Notes . According to Encorp Bhd’s Executive Chairman Datuk Seri Mohd Effendi Norwawi, with niche features, exceptional quality, impressive facilities and strategic location, Encorp Marina is poised to enhance the investment portfolio of its owners by yielding outstanding returns. . Datuk Effendi said the iconic architecture is inspired by nature and able to fulfil the purchasers’ need for a superior living experience. . He added that the development will not only enrich buyers’ capital gains but also their lifestyle.

16. Mah Sing to develop RM1.1bil project in Medini, Johor (The Sun, 19-October-2012) Project / development The Meridin Medini Developer Mah Sing Group Bhd Location Iskandar, Johor Development type / . Integrated development comprising 4 elements: units . Meridin Suites residences (Phase 1)

Consist of 500 sq ft – 1,500 sq ft residences priced between RM288,000 and RM1 million. . Meridin Linx small office versatile office (SoVo) (Phase 2) Offering SoVo units with office facilities such as receptionist services, meeting rooms and auditoriums. . Meridin Exchange corporate towers (likely to be sold en bloc) . Meridin Walk Notes . The Meridin Medini is the sixth project by Mah Sing Group Bhd in Johor. . On 18th October 2012, the developer entered into a 99-year lease agreement with Iskandar Investment Bhd for a 3.27 hectares site in Mendini, valued at RM74.7 million. . Managing Director and Group CEO Tan Sri Leong Hoy Kum said the group will finance the 1st 10% payment due upon signing the deal, via internal funds. The balance will be paid over a period of 5 years. . The Meridin Medini is targeted to mainly Malaysians working in Singapore and Singaporean buyers, who are looking to buy out of Singapore.

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RESIDENTIAL PROPERTY IN NORTHERN /EASTERN PENINSULAR

17. Developer to offer more affordable homes (The Star, 10-October-2012) . Property developer LBS Bina Group Berhad (LBS) has committed to building 6,000 affordable housing units nationwide to realise the dreams of many people to own a home. . LBS Managing Director Datuk Lim Hock San said the company would launch more affordable homes in the Klang Valley, Cameron Highlands, Ipoh and Batu Pahat. . He added that the affordable housing projects will start in the next two years and will focus on high-rise residential units. . LBS launched its newest residential development named Somerset Holiday Apartments located in Cameron Highlands, Pahang. Project / development Somerset Holiday Apartments Location Cameron Highlands, Pahang Developer LBS Bina Group Berhad Development type / 2 blocks of 5-storey shop apartments namely: units . Somerset 1 : 92 apartment units . Somerset 2 : 64 apartment units PROPERTY RESIDENTIAL Built-up 883 sq ft – 1,389 sq ft Developer price From RM385,800 Launching date 9th October 2012 Incentives . 8% rebate for early bird . Free legal fees on loan agreement Notes . Somerset marked the unveiling of LBS’ latest nature-inspired township known as Cameron Golden Hills which is situated between Brinchang and Tanah Rata. . Lim said LBS choose Cameron Highlands for this latest development as it is a favourite holiday spot for local and foreign tourists.

Realising dreams: (from left) LBS Executive Director Datuk Daniel Lim Hock Sing, Hock San and Management Members Datuk Joey Lim Hock Guan and Datuk Barry Lim Hock Seong posing together after launching the Cameron Golden Hills project.

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COMMERCIAL PROPERTY IN KLANG VALLEY

18. Nadayu plans smaller bungalows in Melawati project (Cont. from no.12) (The Edge, 12-October- 2012) Project / development Nadayu 28 Developer Nadayu properties Bhd Location Bandar Sunway, petaling Jaya Development type / 10 units of 5-storey shop offices (with lift) unit Tenure Leasehold Land area / 27’ x 57’ and 28’ x 57’ Built-up area 10,500 sq ft Prices RM6 million Launching date Open for booking since mid-September 2012 Take-up rate 90% booked Notes . According to Executive Chairman Hamidon Abdullah, some of the buyers have booked 2

COMMERCIAL PROPERTY COMMERCIAL shopoffices next to each other, with the intention of migrating their business there. . He added, the project has about 200 underground parking lots. It is an advantage, since the existing shop offices within the area does not have enough parking lots. . Meanwhile, over half of the 405 condominium units at the Nadayu 28 residences near the shop offices have been sold after the launch late last year. The residential units are priced at RM590 per sq ft and have built-up of 990 sq ft, 1,650 sq ft and 1,850 sq ft. . Hamidon said that investors took up the smaller units, while serious buyers went for the bigger units. The project even attracted some Japanese buyers who like living near the facilities in Bandar Sunway.

19. Tetap Tiara to develop ‘enrichment mall’ (The Sun, 17-October-2012) . Tetap Tiara Sdn Bhd, developer and owner of Jaya One in Section 13, will develop the country’s first learning enrichment mall known as The

School, slated to open in September 2013, as part of the extension of the commercial hub. . Its Executive Director Charles Wong said the proposed mall is designed to attract young, urban mothers and their families and promotes learning in a fun, hygienic and safe environment. . As such, 30% of its tenant mix is expected to comprise enrichment centres to promote creative learning and wellness for children aged 2 to 14 years. . He added that the extension to the existing Jaya One covers 300,000 sq ft, with a net lettable area of 190,000 sq ft spread over five floors with the An artist’s impression of The School expected rental rates ranging from RM8 per sq ft to RM12 per sq ft.

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. Wong said the company has secured an anchor tenant for the new mall, which will take up 15,000 sq ft of space . He also said that moms want the best for their kids and we want the best for moms. The School will be in a class of its own. . Wong added that the company wants to realise its vision of creating an unprecedented mall experience that puts children’s learning and mom’s personal needs first. . (One can) expect a holistic mix of tenants that will benefit mother and child from pediatricians to beauty salons and edutainment centres to fashion retailers, he added. . Thus, 40% of the stores will comprise fashion, apparel, convenience and essential stores and the remaining 30% will comprise food, beverage and specialty retail stores. . There will also be medical facilities available, offering dental care, pediatrician and child psychologist services. . The developer has begun its leasing campaign to attract enrichment partners. . Besides the mall, Tetap Tiara will also build a 129-unit office tower and 250 condominium units. The office tower and residential units will have a combined gross development value of RM360 million. . The office tower is expected to open simultaneously with the mall, while the handover of the residential units is expected in the first quarter of 2014. PROPERTY COMMERCIAL

20. Work on new market starts soon (New Straits Times, 22-October-2012) Project / development Redevelopment of Raja Bot Market Location Jalan Raja Alang, Kuala Lumpur Gross Development RM124 million Value (GDV) Development area 249,992 sq ft (23,225 sq m) Completion date 2017 (expected) Redevelopment . The age of Raja Bot Market is already 50 years old and need to be transformed into a modern purposes facility, so it can blend well with the surrounding Kampung Baru development. . An initiative by City Hall to transform the market into a tourist attraction. Redevelopment work . Redevelop, redesign and restructure the mall. . Adding another 350 lots to the existing 1,527 lots. . Constructing an elevated walkway from the Monorail station to the market for the

convenience of shoppers and visitors. Notes . According to Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin Nong Chik, the design of the market has been completed and received positive feedback from all stakeholders. . He added City Hall would redevelop, redesign and restructure the market as requested by Deputy Prime Minister Tan Sri Muhyiddin Yassin during his visit early this year. . Raja Bot Market consists of two floors, with the wet market on the ground floor and the dry market on the upper floor.

Datuk Raja Nong Chick Raja Zainal

Abidin looking at the model of the new Raja Bot Market.

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21. Daya wins tender to construct mall-complex in Putrajaya – GDV RM2 billion (The Star, 25-October- 2012) . In a competitive tender that includes bids from several listed construction companies, Daya Materials Bhd unit Daya CMT Sdn Bhd (Daya) apparently won on the back of its track record in constructing commercial buildings. . A source said that the tender contract for the construction portion of IOI Properties Bhd’s (IOI) upcoming IOI City Mall in Putrajaya was awarded at the end of September 2010. Project / development THE CONSTRUCTION OF IOI CITY MALL Development type A mall with 2 office blocks and a hotel. Project Value RM500 million Development area 36 acres Net lettable area RM2 million sq ft Construction level . Site activities started since 15th October 2012. . Job scope includes constructing some very aesthetically pleasing water features, which will be the key differentiating factor for the mall. Completion date . The Mall : 2014 (expected) . The office blocks : 2015 (expected) Target visitors . The 1.1 million residents living within a 10 minutes’ drive from the Putrajaya area. PROPERTY COMMERCIAL . The people from the KL-Seremban Highway since the Mall is located 5-minute off the Kajang toll and connected to Kuala Lumpur via the Maju Expressway to Putrajaya. Notes . The Mall will be operated in an energy-efficient manner. . The awarding of the construction job will be announced soon as IOI is targeting to open the mall by end-2014. . Once completed, the mall will be among the largest malls in Malaysia. . IOI plans to lease the mall and the office blocks to increase its recurring income. IOI will be selling the office block en-bloc.

An artist’s impression of the IOI City Mall in Putrajaya

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COMMERCIAL PROPERTY IN SOUTHERN PENINSULAR

22. Latest release for ‘food heaven’ (The Sun, 05-October-2012) Project / development Dataran Kemuning Location Senawang, Negeri Sembilan Developer LTS Properties Sdn Bhd Development type / 55 units of 2- and 3-storey shoplots in 5 blocks. units Tenure Freehold Built-up 3,080 sq ft Developer price From RM622,725 Construction stage 75% (estimated to hand over at the end of 2012) Incentives . 5% discount. . Additional discount for early bird from 6th October and 7 October 2012. Favourable factors Strategic location: . Located within Taman Kemuning, which houses more than 30,000 households. . There are 53 housing estates located within a 5 km radius

COMMERCIAL PROPERTY COMMERCIAL . The site is also flanked by mature townships like Taman Senawang Jaya, Taman Anggerik as well as Taman Marida I and II. Notes . Dataran Kemuning is supported by Negeri Sembilan’s Tourism Ministry to become a ‘food heaven’ targeted to both locals and foreigners. . Several major restaurant operators, fast food chains and banks have been in talks to set up here.

23. New mall set to be hub of lifestyle and recreation (The Star, 08-October-2012) . Nusajaya Lifestyle Sdn Bhd wants to position its newly- opened Mall of Medini as the lifestyle, entertainment and recreational epicentre of Nusajaya. . The shopping complex’s location adjacent to Legoland Theme Park Malaysia is an advantage to serve local and foreign visitors.

. The project draws inspiration from globally-successful theme park and lifestyle retail centres (from Los Angeles, USA) such as Americana, The Grove and Universal Citywalk. . It offers the new standard in theme park-linked mixed-use development, offering food, shopping, entertainment and lifestyle experiences, said Datuk Wan Abdullah Wan Ibrahim, the Managing Director and Chief Executive Officer of UIEM Land Holdings Bhd. . He said the Phase 1 colonnade-style retail in a classy yet lively and festive environment which encouraged interaction between the internal and external, as a departure from the conventional box shopping mall. Well placed: Millennium Development International Malaysia country manager . He added, UIEM Land is excited to see the soft opening of Richard Polinghorn showing the model of Phase 1 of the mall which is approximately 10% of t overall 2 the Medini development at Nusajaya in million sq ft of gross floor area. Iskandar Malaysia.

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COMMERCIAL PROPERTY IN SABAH

24. Daya Materials signs MoU for RM250m GDV project in Sabah (The Edge, 23-October-2012) . Daya Materials Bhd’s Unit Daya Land and Development Sdn Bhd signed a memorandum of understanding (MoU) with Chang Cheng Realty Sdn Bhd to develop 4 pieces of land in Sabah with an estimated gross development (GDV) of RM250 million. . In a filing on Bursa Malaysia, the group said the MoU is to jointly develop and construct a 28-storey retail block, 40 blocks of 4-storey shopoffices and 8 blocks of 3-storey shops in Penampang, Sabah. . The estimated gross development cost of the project is at RM120 million.

25. Asian Pac eyes RM45 million revenue from Imago (Business Times, 24-October-2012) Project / development Imago Developer Asian Pac Holdings Bhd (Asian Pac) Location Kota Kinabalu, Sabah Development type Retail mall comprising 300 retail, catering, lifestyle and entertainment outlets. Take-up rate Expected to be fully sold by the end of 2013

COMMERCIAL PROPERTY COMMERCIAL Completion date 3Q 2013 (expected) Tenancy . The mall will be co-leased by CB Richard Elis (Malaysia) Sdn Bhd . According to Asia Pac Chairman Tan Sri Megat Najmuddin Megat Khas, there will be mixed tenancy for Imago, featuring premium luxury outlets, fast-moving fashion houses, household stores, lifestyle and entertainment centres. . Parkson will be the anchor tenant with a retail space of 140,000 sq ft spread over 3 floors of shopping. Target visitors . Tan Sri Megat said, the mall will cater 400,000 people in nearby areas, which fall in the middle to upper class brackets with average household income starting from RM4,500 a month. . He added, studies shown that the potential retail spend by locals is anticipated to be RM1.38 billion annually. Notes . Asian Pac expects to generate annual revenues of around RM45 million from Imago retail mall. . This 800,000 sq ft mall is part of Asian Pac‘s KK integrated development which also includes signature offices and The Loft residences. . Imago will be the first non-strata fully leased mall in Sabah, but it will not be the biggest.

. The current largest lifestyle mall in Sabah is 1Borneo, with 1.5 million sq ft.

Asian Pac Chairman Tan Sri Megat Najmuddin Megat Khas (second from right) looking at a model of the Imago Mall with his Managing Director Datuk Mustapha Buang (right) and South Malaysia Industries Bhd Chairman Tan Sri Mohd Ramli Kushairi.

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HOSPITALITY & TOURISM

26. Nagamas launches first phase of RM1b Silverlakes developments (The Edge, 15-October-2012) Project / development Phase 1 - Alorie Cocoon @ Silverlakes Developer Nagamas international Bhd Location Batu Gajah, Perak Development type / . Silverlakes comprises retail, residential and resorts units . Phase 1 known as Alorie Cocoon: 111-villa unit wellness resort Development area . Silverlakes: 511 acres in total . Alorie Cocoon: 115 acres (part of the 511 acres development) Gross Development . Silverlakes: RM1 billion value (GDV) . Alorie Cocoon: RM230 million Construction date Alorie Cocoon: Mid 2013 (expected) Completion date Alorie Cocoon: 2015 (expected) Operational date 1Q 2016 (expected) Prices Alorie Cocoon: From RM2 million

HOSPITALITY & TOURISM & HOSPITALITY Notes . The villas are now available for sale on a leaseback concept to Alorie Hospitality Sdn Bhd, an international hospitality management company, to operate the property as a wellness resort called Alorie Cocoon. . According to Nagamas, the Alorie Cocoon Silverlakes promises an 80% profit sharing to buyers of the villa with a potential return of up to 15% per annum for 30 years representing all the incomes generated from the resort. . Unlike the typical time sharing arrangement with most holiday property products, Alorie Cocoon offers owners a strata title for the properties purchased.

27. Majestic Hotel to open on Dec 1 (New Straits Times, 18-October-2012) . The Majestic Hotel Kuala Lumpur, an icon in Jalan Sultan Hishamuddin, has been restored and is set to welcome guests on 1st December 2012. . YTL Hotels Executive Director Datuk Mark Yeoh said there are no changes made into the original structure of the building because the building is gazette under the Antique Act.

PROJECT NAME Majestic Hotel Kuala Lumpur

Location Jalan Sultan Hishamuddin, Kuala Lumpur. Development area 1.29 hectares Construction Cost RM250 million Features / facilities . Smokehouse . Spa . Rooftop orchid garden. . 300 hotel rooms with a choice of deluxe rooms and suites. . Air-conditioned glass walkway connecting to the 5 separate buildings. . 5 eateries i.e.: Colonial Cafe, the main rest. . There are 16 meeting rooms and a ballroom with 1,200 pax capacity. Notes . Majestic Hotel is built in the 1930s and closed in 1984 and used by the National Art Gallery of Malaysia and the Kuala Lumpur Tourism Association. . This luxury hotel is set to rekindle the glory of the former Hotel Majestic by recreating the 1950s' bygone era in grand style.

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INFRASTRUCTURE & AMENITIES

28. Three MRT station packages worth RM732.2m awarded (The Edge, 03-October-2012) . Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) on Wednesday awarded 3 station packages for the MRT Sungai Buloh-Kajang project totalling RM732.2 million. . The awards are made following a sitting of -Stop Procurement Committee in Putrajaya which was chaired by the Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah. . According to MRT Corp Chief Executive Officer Datuk Azhar Abdul Hamid, these awards are the best evaluated bids from the group which are shortlisted earlier. With three more station packages awarded, it is glad to say that the MRT project is progressing very well. . The three companies (refer table below) have been appointed nominated sub-contractors for the respective elevated civil work package contractors. . MRT Corp will soon issue notices to the contractors to appoint the companies as nominated sub-

contractors. AMENITIES & INFRASTRUCTURE . The prices of the elevated civil works packages include the prices for station construction works. . All three packages were open to 12 Bumiputera companies which had earlier pre-qualified for tender. . To date, 48 out of the 85 total tender packages for the MRT project have been awarded.

Project / Package Awarded to / company Notes Package S2: the construction and Naim Engineering Sdn Bhd . The contract package is worth RM204.7 completion of elevated stations and other million associated works at Taman Industri Sungai Buloh, PJU 5 and Kota Damansara Package S4: the construction and Naim Engineering Sdn Bhd . The contract package is worth RM208 completion of elevated stations and other million. associated works at Section 16 in Pusat . It is awarded on 26th July 2012 Bandar Damansara and Semantan. Package S3: the construction and UEM Construction Sdn Bhd . Package S3 is worth RM275.8 completion of The Curve, One Utama and millioncontract. Dataran Sunway elevated stations and other associated works Package V8: the construction and UEM Construction Sdn Bhd . Package V8 is worth RM951 million

completion of the viaduct guideway and contracts. the other associated works from Taman . It is awarded on 26th September 2012. Mesra to Package S7: the construction and Apex Communication Sdn Bhd. . The RM104.7 million contracts were completion of the Balakong and Taman disbursed on 28 August 2012. Koperasi stations. Package S8: the construction and Apex Communication Sdn Bhd. . The contract package is worth RM251.7 completion of the Saujana Impian, Bandar million. Kajang and Kajang elevated stations and other associated works.

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29. Construction of second Penang span 84% finished (The Star, 03-October-2012) . Construction of the second Penang Bridge is surging ahead of schedule, with 84% of the project completed. . Jambatan Kedua Sdn Bhd Construction Director Hamizol Ngah said work was about 2% ahead of plan as of 20th September. . The construction stage is now two months ahead of schedule from the September 2013 deadline. . The construction company aims to have 90% of the bridge completed by end of the year, he said in a briefing for state officials at the China Harbour Engineering Co Ltd (M) Sdn Bhd (CHEC) office in Batu Maung. . Hamizol said the bridge would have a lifespan of 120 years and the ability to withstand earthquakes up to 7.5 on the Richter scale by using the High Damping Rubber Bearing system. . State Public Works, Utilities and Transportation Committee Chairman Lim Hock Seng, who was present at the briefing, said two traffic dispersal project on the island end of the bridge were expected to kick off in 2013. . The Federal Government had approved RM262 million to upgrade the coastal road (Tun Dr Lim Chong Eu

Expressway) from the entrance of the second bridge to the mouth of the first Penang Bridge. AMENITIES & INFRASTRUCTURE . Aside from that RM161 million has been allocated to upgrade roads leading south to Teluk Kumbar from the Batu Maung Interchange. . He said both projects were expected to be completed about a year after the second bridge opened to traffic in September 2013. . It is expected about 30% of the first bridge’s traffic (70,000 vehicles per day) to move to the second bridge, so we think traffic will be manageable until the two upgrading projects are completed, he added. . He also said the state had been informed that CHEC, one of the contractors for the second bridge, was not involved in the building of the Harbin Yangmingtan Bridge that collapsed in China on August 24. . Chief Minister Lim Guan Eng had previously called for an immediate safety audit on the second bridge following speculation that China Communications and Construction Company Ltd, the parent company of CHEC, was the contractor of the collapsed bridge in Heilongjiang province.

30. No stopping GO-KL, says SPAD chief (New Straits Times, 05-October-2012) . Land Public Transport Commission (SPAD) has no plans to cease the free GO-KL bus service, following protests from taxi drivers in Kuala Lumpur. . SPAD Chairman, Tan Sri Syed Hamid Albar said, SPAD started GO-KL based on public demand and found that they like it and find it convenient. It is especially popular among tourists. Therefore, stopping it would

not be sensible. . Syed Hamid said the commission had carefully studied the GO-KL routes prior to its launch to ensure that it did not obstruct taxi drivers’ activities. . According to Syed Hamid, there are no valid figures to show a correlation between the GO-KL service and a reduction in taxi passengers. . A group of taxi drivers from the Association of Bestari Taxi Drivers of Kuala Lumpur held a meeting with SPAD officials on Wednesday to voice their grouses against the free GO-KL buses which they claimed had affected their earnings. . Prior to that, a group of taxi drivers held a demonstration near Jalan on Tuesday evening, causing a massive rush hour traffic jam that only ended at 7.30 pm. . Syed Hamid said the group aired nine grouses during the two-hour meeting, which he promised to look into. They raised issues such as the lack of taxi terminals in Bukit Bintang and were also unhappy with the coupon system enforced at KLCC and Pavilion KL shopping complexes.

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. SPAD is not exclusively responsible for all their grouses, but they have promised to sit down with the relevant agencies, such as the police and City Hall, to find an amicable solution. . The GO-KL bus service, which covers the central business districts of KLCC-Bukit Bintang and Central Market-Bukit Bintang, was launched on Aug 31 to further improve and promote public transportation. . Currently, SPAD has mobilised 15 buses which operate daily from 6 am to 11 pm, and can accommodate up to 60 passengers on each trip. . The service has been praised especially for its frequency (buses arrive every five minutes) and the free WiFi available on the bus. . The service transports close to 9,000 passengers daily, in only its first month of operations.

AMENITIES & INFRASTRUCTURE

GO-KL city bus routes

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31. New bus service to ease transport problems for tertiary students this December (The Star, 05- October-2012) . Tertiary education students would benefit the most from the new RapidKuatan bus service which is due to begin its operation on 1st December. . Menteri Besar Datuk Seri Adnan Yaakob said the state had requested Syarikat Prasarana Negara Bhd to place students as its top priority under the service and comply by planning a route from the Gambang Community Collage to Terminal Makmur in the city itself. . He said the first route will cover 49.4 km from Universiti Malaysia Pahang, the Kuantan Airport, Taman Tas, Sungai Isap, Hospital Tengku Ampuan Afzan and the state mosque. . Adnan added that the other two routes would cover Bandar Indera Mahkota to Teluk Cempedak and from the Kuantan Court Complex to POLISAS Semambu. . The emphasis of the bus service will be efficiency, frequency, affordable fares and comfort. We will request Prasarana to detour the third route from POLISAS to Universiti Antarabangsa Malysia to fulfill the transportation needs of students, he added.

. Adnan also said that the service frequency would be at a minimum of 15 minutes. AMENITIES & INFRASTRUCTURE . It is of utmost importance because sometimes people have to wait for a bus for one hour only for it to pass by when we need to use the toilet. . For RapidKuantan, the bus will arrive every 15 minutes and move even when it is not full. . Up to 32 buses would begin operation from a temporary depot on a 2.8-ha land owned by the Pahang Agriculture Development authority. . Adnan said in the long term, the government would allocate four hectares for RapidKuantan’s permanent depot to be located between Wisma Belia and Kuantan Sentral as well as for a possible expansion of the Transit Oriented Development. . The fares would be determined by the Government through the Land Public Transportation Commission (SPAD).

Adnan (right) and Shahril showing the new RapidKuantan logo

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32. Rail link delay to land issues (The Star, 11-October-2012) . Government plans to introduce a 140kph Electric Train service (ETS) between Kuala Lumpur and Gemas to reduce travel time from the current 3 hours to 2 hours. . Running through Negeri Sembilan (65km), Malacca (32km) and Johor (1.45km), the ETS project is awarded to Indian Company Ircon International Limited. . The RM4.3 billion Seremban-Gemas double tracking and electrification project is divided into 2 phases of : - Seremban – Sg. Gadut (11.3km) - Sg. Gadut – Gemas (86.8km) . Started in January 2008, the project is supposed to be completed by the final quarter of 2012. . According to Menteri Besar Datuk Seri Mohamad Hassan, the 98km Seremban-Gemas route should be operational by the middle of 2013. . However, it is experiencing some delays due to some factors such as: - Land acquisition issues particularly along sections of the stretch in Malacca. - The construction of several stations along the route such as Rembau, Tampin and Gemas –i.e. the

construction of a flyover in Simpang Ampat in Malacca. AMENITIES & INFRASTRUCTURE . The opening of Senawang and Sg. Gadut stations has also been delayed by six months due to land acquisition and weather problems. . Both stations, which is supposed to have been operational in December 2010, were only commissioned in May the same year.

33. Penang airport expects 4-5% passenger growth (The Sun, 17-October-2012) . Malaysia Airport Holdings Bhd (MAHB) expects the Penang International Airport (PIA) to register between 4% and 5% growth in passenger traffic in 2012 despite the upgrading work in progress. . Last 2011, the PIA saw 4-5 million passengers. . MAHB Senior General Manager Datuk Azmi Murad said, the tourism industry is growing due to strong domestic demand as well as increasing international connections. . He added the PIA recorded a healthy 5% growth in passenger traffic for the first 9 months in 2012, registering 3.5 million from 3.3 million in 2011. PIA is likely to see a higher growth in passenger traffic upon completion of upgrading work at the airport. . The RM250 million upgrading work at the PIA is 95% completed and targeted for completion by November 2012. . Datuk Azmi also said MAHB is confident of an increase in tourist arrivals into Penang.

. There is also the possibility of current airline operators increasing flight frequency to Penang, he added.

34. 100% fibre connectivity for Cyberjaya (The Sun, 17-October-2012) . Fixed-line provider TIME dotCom Bhd has teamed up with Setia Haruman Sdn Bhd to introduce fibre connectivity to homes and offices in Cyberjaya that will transform it into the most-wired city in the nation. . Under a memorandum of agreement signed on 16th October 2012, TIME and Setia Haruman, via its unit Setia Haruman Technology Sdn Bhd, will collaborate to deploy 100% fibre-to-the-home and fibre-to-the- ofiice services to more than 3,300 new homes and 1,400 offices in Cyberjaya for a period of 10 years. These services will enable customers to enjoy up to 100Mbps broadband speeds and subscribe to Astro B.yond IPTV packages. . TIME CEO Afzal Abdul Rahim said, for a long time, small and medium enterprises and homes in Cyberjaya have not had an alternative choice of internet, voice and IPTV service provider. Now people can get internet speeds of up to 100Mbps.

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. By connecting the backbone to Setia Haruman Technology’s fibre network, it will bring true high speed connectivity to Cyberjaya, he added. . By 2022, Cyberjaya’s population is expected to swell to 210,000 people. Businesses are expected to employ up to 120,000 people and higher learning institutions will support 30,000 students.

35. KLIA2 to start operations May 1 (Business Times, 24-October-2012) . According to Malaysia Airports Holdings Bhd (MAHB) Chief Financial Officer Faizal Mansor, the highly talked about low-cost carrier terminal (LCCT) / KLIA2 will commence operations on 1st May 2013. . KLIA2, which is designed to cater to 30 million passengers a year with a provision to expand to 45 million passengers, is currently 65% complete. . In terms of the new terminal's cost, which currently stands at RM4 billion, Faizal said there would not be any increase if there are no changes in the scope of work. . He added, MAHB are working very hard in making sure that it remains below their budgeted cost of RM4 billion. As at this stage, as long as the scope remains as per the requirements, MAHB did not see it going above RM4 billion.

INFRASTRUCTURE & AMENITIES & INFRASTRUCTURE . Meanwhile, commenting on Air-Asia Group Chief Executive Tan Sri Tony Fernandes' decision to move the budget carrier from the current LCCT to KLIA2, Faizal said it is good news and MAHB wants to be able to work very well with the budget carrier. . However, he said, there are still some outstanding issues between them, particularly on Air-Asia's office and check-in counters, adding that MAHB will find ways to solve the issues as long as they do not compromise passengers' comfort and safety. . He added, there are 100 requests to meet the requirements and 97, (or) 98 of those requirements have been met. . On the formulation of a service-level agreement (SLA) between Air-Asia and MAHB at KLIA2, Faizal said that there are conditions of use but some airlines, in particular, domestic airlines Air-Asia and Malaysia Airlines (MAS) have requested for a separate SLA. . Apart from Air-Asia, Faizal said, Tiger Airways, Mandala Air and Cebu Pacific, which currently operate from the current LCCT, may also move to KLIA2. . Other low-cost carriers operating from KLIA's main terminal have not, however, given confirmation if they would do the same. . Meanwhile, on MAHB's retail arm Eraman Malaysia (which holds 10% stake in DIAL) selling its stake in Delhi International Airport Ltd (DIAL), Faizal said at this stage, the airport operator's position in the company has not changed at this stage. . He added that it is not uncommon for a company to explore opportunities to realise its investments when the time is right. . For the 4Q 2012, MAHB expects to record stronger financial performance compared to the third quarter. . Faizal said the positive outlook is underpinned by expected stronger performances of MAS and Air-Asia, as well as new airlines operating at its airports. . For 3Q 2012, the airport operator posted revenue of RM754.2 million compared with RM661.1 million in the same period last year. However, its profit slipped to RM113.0 million from RM117.1 million a year ago. . MAHB posted revenue of RM2.2 billion for the nine months ended September 30, representing growth of 14.3% compared with RM1.9 billion recorded in the corresponding period last year. . Its net profit rose 3.9% to RM316.4 million compared with RM304.4 million previously. . For the period under review, the international and domestic passenger movements increased by 4.5% and 3.1% respectively.

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36. ‘Projects helped to cut flood risk’ (New Straits Times, 24-October-2012) . THE government has implemented several flood mitigation projects which include the Stormwater Management and Road Tunnel (SMART), which was completed in 2007. . Deputy Natural Resources and Environment Minister Tan Sri Joseph Kurup told the Dewan Rakyat that these flood mitigation plans had reduced flood incidences in the Klang Valley by 20 per cent. . He said the projects were implemented by the ministry through the Department of Irrigation and Drainage (DID). . Under the Ninth Malaysia Plan, DID had implemented nine flood mitigation projects which involved RM427.7 million. One of the projects included Sungai Damansara, which cost RM359.8 million. . Tan Sri Joseph Kurup said DID also carries out maintenance works three times a year to ensure the smooth flow of water from the rivers to reduce the risk of floods. . He also advised the state governments and the local councils to work together with the Federal Government in managing flood-prone areas. . The local councils play a very important role in identifying areas and drains that could potentially cause

floods and the internal irrigation system also has to be maintained to ensure that the water flow is not AMENITIES & INFRASTRUCTURE blocked. . It was reported earlier this year, the 32 flood mitigation projects were being implemented throughout the country at a cost of RM880 million. . Tan Sri Joseph Kurup stated that the projects were undertaken by the DID and are expected to be completed by year end. . He also said in order to coordinate the projects, six flood hazard maps had been completed for six rivers which are the Sungai Muar, Sungai Kulai, Sungai Kinta, Sungai Selangor, Sungai Muda and Sungai Kedah.

37. Build second international airport, urges SAPP (The Star, 27-October-2012) . Sabah Progressive Party (SAPP) has proposed that a second international airport be built in Labuan. . SAPP President Datuk Yong Teck Lee said in a statement that the proposed airport should ideally be built in Labuan which is an International Offshore Financial Centre. . He added that the trip to the state capital would be shortened with the construction of a bridge linking Labuan and the mainland. . The statement was issued following the shutdown of Kota Kinabalu International airport (KKIA). If the two facilities are in place, the massive damage and inconvenience due to the closing down of KKIA could have been alleviated, said Yong

. He said passengers could be diverted to Labuan and driven back to Kota Kinabalu and other mainland destinations. . Yong said a serious incident such as the malfunction of the runway lighting system at the airport should not have happened and affected passengers should be duly compensated.

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OVERSEAS

38. South Korea housing prices fall for third month running in September (The Edge, 02-October-2012) . Housing prices across South Korea fell 0.2% in September from August, private-sector data showed on Tuesday, marking their third consecutive monthly decline and underscoring a stubbornly weak consumer sentiment. . Housing prices fell by 0.1% each in August and July on a month-on-month basis, and it was the longest losing streak seen since early 2009, the data from Kookmin Bank showed. . Compared with a year earlier, housing prices in September were just 1.2% higher, the data showed, setting their slowest annual growth since November 2009.

39. Brisk condominium sale in Singapore (The Star, 08-October-2012) . Despite new restrictions on the length of home loans that took effect on Saturday, house hunters did not stay away from condominium showflats islandwide. . At new launches like Riversails along the Punggol waterfront and Cityscape at Farrer Park, showrooms were packed and agents said that business was brisk. . At a 748-unit development in Bedok South called eCO, for example, at least 20 units were sold on Saturday. . The Monetary Authority of Singapore said on Friday that it was capping the length of a home loan at 35 years.

. It also lowered the loan limits for those who take loans past 30 years, or which extend beyond the OVERSEAS retirement age of 65. Such buyers can take a loan of only 60% of the property's value, down from 80%, starting on Saturday. . This means an upfront payment in cash of 40% of the property’s price. If it is their second or more loan, the loan limit shrinks further to 40% - they must fork out a cash down payment of 60% of the property's value. . House hunters The Sunday Times spoke to on Saturday said they were aware of the latest changes but they

were undeterred. . Ding Ming, 39, signed an option to purchase a two-bedroom unit at Riversails. . And because it is his second property in addition to his HDB flat, he could take only a 25-year loan as a longer one would mean paying in cash a down payment of 60% of the condominium's value. . The rental from my HDB flat will cover it, said the engineer. . Anyway it is not a good idea to take too long a loan - Singapore Straits Times/Asia News Network

40. Exclusive: IGB-led group wins bid to build RM8b Twin Towers (The Edge, 30-October-2012) . A multinational consortium led by IGB Corporation has won the bid to build Taipei’s Twin Towers with total investment of about NT$80 billion (about RM8.3 billion), according to news reports in . . In a statement issued late on Sunday (Oct 28), the Taipei City Government announced that the consortium, led by IGB Corp Bhd, a Malaysia-based company engaged in investment holding a property development, had beaten two other bidders for the project, with a total investment of NT$70 billion – NT$80 billion, reported by the Taipei Times yesterday. . The official Taiwan Today also carried similar report. . The consortium is expected to break ground for the construction of 2 high-rise buildings – one with 56 stories above ground and four basement levels, and the other with 76 stories above ground and four basement levels – on the site of Taipei’s main railway station within one year.

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