DOCSLIB.ORG

NEGATIVE [Unchanged]

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
NEGATIVE [Unchanged] January 10, 2016 Malaysia Property NEGATIVE [Unchanged] Batu Kawan is shining, again Analyst Embracing the second wave of growth The completed/soon-to-be completed catalytic projects — Design Village Wong Wei Sum, CFA Penang (end-Nov 2016) and IKEA Penang store (end-2018) — are expected (603) 2297 8679 [email protected] to bring in the second wave of growth in Batu Kawan (BK). These flagship projects would create job opportunities and serve as a population catchment, boosting property demand in BK. Beneficiaries include Tambun Indah, Eco World and Paramount. Having said that, demand on BK properties has been dragged by the current slowdown in the local property market due to macro headwinds and buyers credit quality. Real Estate 2018-2019, the tipping point We expect the second wave of growth in BK to materialize with the completion of a few growth catalytic projects including IKEA Penang store (late 2018), Design Village Penang (soft opening in end-2016) and KDU Penang University College (2Q 2019). In our view, Batu Kawan (BK) properties stand a good chance to experience a similar price uptrend as Iskandar Malaysia after the completion of these few catalytic projects there. Thus far, BK properties have recorded an average price growth of 10-20% from 2013 to 2015. This is despite the slowdown in the domestic Malaysia property market which started in 2014. Entry of big players is a testament to BK’s prospects The entry of key property players in BK is a testament to BK’s long-term prospects. Paramount (PAR MK; Not Rated) has acquired 44 acres of freehold land in BK in 2014 while Eco World has acquired 76 acres at Simpang Ampat in 2014 and further strengthened its foothold by buying another 374.6 acres of leasehold land in BK in June 2016. These two Klang Valley-based developers have strong followings from previous buyers of their properties. Their investments in BK should help to raise the profile of BK in the domestic front and investing community. The beneficiaries While we remain NEGATIVE on the property sector due to persisting macro headwinds and continuous stringent lending by the banks in scrutinizing buyers’ credit quality, property prices in BK could be among the early ones to rise when the market recovers. Tambun Indah (TILB MK; initiate coverage with a HOLD) is poised to be the biggest beneficiary from rising commercial activities in BK, followed by Eco World (ECW MK; BUY) and Paramount (PAR MK; Not rated). Stock Bloomberg Mkt cap Rating Price TP Upside P/E (x) P/B (x) Div yld (%) code (USD'm) (LC) (LC) (%) 16E 17E 16E 17E 16E 17E SP Setia SPSB MK 2,033 Hold 3.19 3.63 14 12.0 9.3 0.7 0.7 4.9 6.0 Sunway SWB MK 1,378 Hold 2.99 3.37 13 10.6 10.0 0.7 0.7 2.8 3.0 UEM Sunrise UEMS MK 1,115 Hold 1.10 1.10 (0) 39.4 23.1 0.7 0.7 0.7 1.2 Eco World Dev ECW MK 843 Buy 1.35 1.56 16 24.8 21.5 0.9 0.8 0.0 0.0 Mah Sing Group MSGB MK 786 Hold 1.46 1.47 0 11.6 10.8 1.1 1.0 3.5 3.7 Tambun Indah TILB MK 134 Hold 1.40 1.53 9 5.9 7.5 1.2 1.1 6.7 5.3 Glomac GLMC MK 113 Hold 0.70 0.82 18 7.1 7.4 0.5 0.4 5.8 4.1 THIS REPORT HAS BEEN PREPARED BY MAYBANK INVESTMENT BANK BERHAD PP16832/01/2013 (031128) SEE PAGE 14 FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS Malaysia Property Batu Kawan, poised for a 2nd wave of growth Rising land prices in Batu Kawan We believe Batu Kawan (BK), the third satellite town of George Town, Penang (after Bayan Lepas and Seberang Jaya), is poised for a second wave of growth. The first wave was in 2013-2014 when accessibility and connectivity to BK improved tremendously after the official opening of the Sultan Abdul Halim Muadzam Shah Bridge (Penang second bridge). The Penang second bridge, which connects Batu Maung on Penang island to Batu Kawan on the mainland, has helped to accelerate the development of BK and transform it into a residential/commercial/industrial area, from pure agricultural land previously. The tremendous change is reflected in the land price, which rose at a CAGR of 24% from 1992 to 2016 (source: I&T Properties, companies’ announcements). Penang second bridge which links Batu Maung (island) to Batu Kawan (mainland) Batu Maung Batu Kawan Source: Google January 10, 2016 2 Malaysia Property Land transactions in Batu Kawan – land price has risen at 24% CAGR from 1992 to 2016 Year Transacted price (MYR Remarks psf) 1992 0.34 Compulsory acquisition of 5,260 acres by the Penang State Government at MYR15,000 per acre 2002 3.52 Land purchase of 750 acres by Abad Naluri S/B from Penang Development Corp (PDC) 2009/2010 8-10 Land acquisition process began on private lands in the Batu Kawan locality affected by the Second Penang Bridge alignment and road linkages to North South Highway and were awarded compensation at a rate of MYR8-10psf. 2011 30 Announcement of an industrial park catering for SME with 150 acres to be established at the Batu Kawan Industrial Park and 67 acres for SMEs opened for sale as backbone for solar and renewable energy industries. 2012 15.3 The purchase of 87 acres of industrial land by Robert Bosch at MYR58m 2013 37.9 39.5 acres of land deal between PDC and developer PE Land S/B for the construction of a premium retail outlet, hotel, cafes and F&B outlets 2013 35.0 The purchase of 76.5 acres of land in Simpang Ampat by Eco World for MYR116m. 2014 45.3 The sale of 245 acres of land for the purpose of development of an integrated shopping mall, anchored by an IKEA store and mixed development of offices and residences jointly developed by Aspen-Ikano. 2014 40.5 - 55 Paramount bought about 44 acres of land in Batu Kawan. 2016 44 – 56 Eco World has proposed to buy 374.6 acres of leasehold land in Batu Kawan Source: I&T Property, media reports, companies announcements Completion of flagship projects to boost property demand We expect the second wave of growth in BK to materialize with the completion of a few growth catalytic projects including IKEA Penang store, Design Village Penang, KDU Penang University College and Columbia Asia Hospital. The upcoming IKEA Penang store (1.2m sq.ft.; 100%-owned by Ikano; located at the Aspen Vision City project, 80% owned by Aspen Group [unlisted] and 20% by Ikano Pte Ltd, with a GDV of MYR8b-10b) is slated for opening by late 2018 while Design Village Penang (a 400,000 sq.ft. mall which is owned by unlisted PE Land Sdn Bhd) had already conducted a soft opening in end-Nov 2016. Elsewhere, Columbia Asia Sdn Bhd is investing MYR185m for a new hospital with 150 beds in Batu Kawan. As for KDU Penang University College (10.5-acre flagship campus) by Paramount Corp (PAR MK; Not Rated), the college will be ready by 2Q19. We understand the campus can accommodate up to 5,000 students. Apart from these, based on the master development plan of BK, future developments could also comprise theme park, golf course and beach resort (no timeline is given on these future developments at this juncture). In our view, these commercial activities, including support industries such as hotels and restaurants in BK, will serve as an immediate population catchment and consequently boost demand for properties in BK. January 10, 2016 3 Malaysia Property Developments (future/under constructions) in Batu Kawan Source: Google, property forum January 10, 2016 4 Malaysia Property Hijau E-Komuniti Phase 1 of Hijau E-Komuniti is under construction Source: Maybank Kim Eng Source: Maybank Kim Eng The site for Aspen Group’s Aspen Vision City in Batu Kawan The site for IKEA Penang store Source: Maybank Kim Eng Source: Maybank Kim Eng Penang Designer Village Soft opening of Penang Designer Village on 23 Nov 2016 Source: Maybank Kim Eng Source: Maybank Kim Eng January 10, 2016 5 Malaysia Property Huge long-term growth potentials Penang island-Batu Kawan akin to Hong Kong-Shenzhen In our view, Penang island - Batu Kawan (mainland) is a tad similar to the Hong Kong – Shenzhen situation, with a huge disparity in property prices. Unlike the relationship between Iskandar Malaysia (which is in Malaysia) and Singapore, Batu Kawan and Penang island are governed by the same authority, thus allowing for the better synchronization of development plans. Given the high density and land prices on Penang island, BK can well serve a spillover of manufacturing and residential hub from the island. To illustrate the disparity in property values, current asking prices for a newly-launched mid-end apartment on the island range between MYR650-800psf (with a few high-end condominiums hitting MYR1,300-1,500psf [net]), vs MYR330-400psf in the Simpang Ampat - Batu Kawan area (Simpang Ampat is a 15 minute drive from Batu Kawan). Similar to the initial years of Shenzhen and Iskandar Malaysia, BK has yet to reach its critical mass at the moment due to the lack of commercial activity. But it is just a matter of time before this happens. BK should breakthrough and gain more traction with the completion of the afore-mentioned flagship projects in 2016- 2019 and property prices over there should play catch-up over time.
Load more

Recommended publications
  • Pa International Property Consultants
    PA INTERNATIONAL PROPERTY CONSULTANTS (PENANG) SDN BHD REAL ESTATE (PENANG) SDN BHD PA international Property Consultants Sdn Bhd formed in June 1980, is a full service real estate company registered with the board of valuers, appraisers & estate agents under the valuers, appraisers and estate agents act 1981. Our Network Offices: Our Professional Services: 1. Johor Bahru, Johor 1. Property Valuation 2. Kluang, Johor 2. Compulsory Land 3. Kuala Lumpur/ Petaling Acquisition and Jaya Compensation 4. Klang, Selangor 3. Property Selling & Leasing 5. Penang 4. Property Investment 6. Ipoh, Perak Consultancy 7. Seremban, Negeri 5. Project Marketing Sembilan 6. Property Management 8. Sungai Petani, Kedah 7. Corporate & Advisory 9. Ho Chi Minh City, Vietnam 8. Property Market Research (Representative Office) & Consultancy PA INTERNATIONAL PROPERTY CONSULTANTS (PENANG) SDN BHD PA international Property Consultants (Penang) Sdn Bhd was established in year 2014, head by Sr. Michael Loo as Executive Director. The company have undertaken valuations and related assignments for a number of Public listed and other established corporate entities, among which are: Tambun Indah Land Berhad Tah Wah Group Sdn Bhd Hai Hong Development Sdn Bhd Ivory Properties Group Berhad VST Group Sdn Bhd United Oil Palm Industries Sdn Bhd LBI Capital Berhad Sunrise Manner Sdn Bhd Hwa Huat Livestock Industries Sdn Bhd Hua Yang Berhad Metro Jelata Sdn Bhd Jeenhuat Foodstuffs Industries Sdn Tatt Giap Group Berhad Sunway Properties Berhad Bhd Wing Tai Malaysia Berhad Asia Plywood Company SL Airmas Development Sdn Bhd Heng Huat Resources Group Berhad Berhad Chye Seng Sdn Bhd Boon Koon Group Berhad VST Group Sdn Bhd The Light Hotel (M) Sdn Bhd B.
    [Show full text]
  • Download Updated Store Operating Hours
    RETAIL OPERATION HOUR Store Name Opening Hours (WEEKDAYS) OPENING HOURS (WEEKENDS) REASONS(IF NOT 10AM-10PM) TOWN STATE SHOP ADDRESS G51 MAHKOTA PARADE 10.00 AM TO 10.00 PM 10.00 AM TO 10.00 PM MALL CLOSING TIME BANDAR HILIR MELAKA LOT G.51, MAHKOTA PARADE GROUND FLOOR, JALAN TAMAN 75000 , MELAKA. 1363 MASJID TANAH 9.00 AM TO 8.00 PM 9.00 AM TO 8.00 PM TOWN COUNCIL REQUIREMENT MASJID TANAH MELAKA MT 1363 PEKAN MASJID TANAH ,78300 MELAKA. AEON MELAKA 10.00 AM TO 9.00 PM 10.00 AM TO 9.00 PM MALL CLOSING TIME AYER KEROH MELAKA F20 AEON MELAKA ,SHOPPING CENTRE , LEBUH AYER KEROH , 75450 MELAKA. NO 49 & 50 , JALAN BINTANG , OFF JALAN KLUANG , 83000 BATU PAHAT , 49-51 BATU PAHAT 10.00 AM TO 10.00 PM 10.00 AM TO 10.00 PM BATU PAHAT JOHOR JOHOR. LOT 1-69 & 1-70 FIRST FLOOR , BATU PAHAT MALL, JALAN KLUANG, 83000 BATU BATU PAHAT MALL 10.00 AM TO 9.00 PM 10.00 AM TO 9.00 PM MALL CLOSING TIME BATU PAHAT JOHOR PAHAT, JOHOR WETEX MUAR 10.00 AM TO 10.00 PM 10.00 AM TO 10.00 PM MALL CLOSING TIME MUAR JOHOR WETEX PARADE , LOT 17-18 1ST FLOOR JALAN ALI , 84000 MUAR ,JOHOR NO 6 & 7 PUSAT PERNIAGAAN NAIB LONG 2, JALAN MUAR, 84900 ,TANGKAK 6&7 TANGKAK 10.00 AM TO 8.00 PM 10.00 AM TO 8.00 PM TOWN COUNCIL REQUIREMENT MUAR JOHOR JOHOR AEON BIG BATU PAHAT , F1.10 JLN TAN SWEE HOE , TAMAN FLORA UTAMA , AEON BIG BATU PAHAT 10.00 AM TO 9.00 PM 10.00 AM TO 9.00 PM FOLLOW MALL OPERATION HRS BATU PAHAT JOHOR 83000 BATU PAHAT , JOHOR.
    [Show full text]
  • Malaysia Real Estate Highlights
    RESEARCH REAL ESTATE HIGHLIGHTS 1ST HALF 2015 KUALA LUMPUR PENANG JOHOR BAHRU KOTA KINABALU KUALA LUMPUR HIGH END CONDOMINIUM MARKET (MPC) meeting in May in an effort to support economic growth and domestic HIGHLIGHTS consumption. • Softening demand in the SUPPLY & DEMAND high-end condominium With the completion of seven notable segment amid a cautious projects contributing an additional market. 1,296 units [includes projects that are physically completed but pending Madge Mansions issuance of Certificate of Completion • Lower volume of transactions and Compliance (CCC)], the cumulative expected to come on-stream. The KL in 1Q2015. supply of high end condominiums in City locality will account for circa 35% Kuala Lumpur stands at 39,610 units. (1,310 units) of the new supply; followed • Developers with niche high by Mont’ Kiara / Sri Hartamas with Approximately 45% (582 units) of the new 34% (1,256 units); KL Sentral / Pantai / end residential projects in KL completions are located in the Ampang Damansara Heights with 20% (734 units); City review products, pricing Hilir / U-Thant area, followed by some and the remaining 11% (425 units) from and marketing strategies in 26% (335 units) in the locality of KL City; the locality of Ampang Hilir / U-Thant. a challenging market with 16% (204 units) from the locality of KL lacklustre demand, impacted Sentral / Pantai / Damansara Heights Notable projects slated for completion by a general slowdown in the area; and 14% (175 units) from the Mont’ in KL City include Face Platinum Suites, economy, tight lending Kiara / Sri Hartamas locality. Le Nouvel, Mirage Residences as well as guidelines, weaker job market the delayed project of Crest Jalan Sultan The three completions in Ampang Hilir amongst other reasons.
    [Show full text]
  • Malaysia Real Estate Highlights
    RESEARCH REAL ESTATE HIGHLIGHTS 1ST HALF 2017 KUALA LUMPUR PENANG JOHOR BAHRU KOTA KINABALU HIGHLIGHTS KUALA LUMPUR HIGH END CONDOMINIUM MARKET Subdued high-end condominium market with developers scaling ECONOMIC INDICATORS 44.3%). Meanwhile, 1Q2017 also saw a back on new property launches marginal increase in the total outstanding / amid continued weak demand. Malaysia’s economy rebounded in non-performing loans in the housing sector 1Q2017 with Gross Domestic Product to RM5.54 billion (4Q2016: RM5.41 billion). (GDP) expanding at 5.6% (4Q2016: With potential purchasers and 4.5%), driven mainly by higher private investors waiting on the side- expenditure. For 2017, the country’s GDP lines, developers continue to growth forecast range between 4.3% and tweak their marketing strategies 4.8%, supported by gradual improvement to sustain earnings through in the global economy and domestic “stock clearing” of completed demand. and on-going projects. Headline inflation for 1Q2017 was higher at 4.3% (4Q2016: 1.7%), driven mainly Limited completions of high- by high transportation cost. The annual end condominiums / residences inflation for 2017 is expected to be in the during the review period. region of 3.0% to 4.0% (2016: 2.1%). The labour market condition for 1Q2017 Secondary pricing in selected remained stable, with the unemployment locations remained flat while rate of 3.5% (4Q2016: 3.5%). rentals continued to be under To remain accommodative to economic pressure. activity and to support domestic demand, Bank Negara Malaysia (BNM) continued China’s capital control impact to maintain the Overnight Policy Rate projects targeting buyers from (OPR) at 3.0%.
    [Show full text]
  • Malaysia Real Estate Highlights
    RESEARCH REAL ESTATE HIGHLIGHTS 2ND HALF 2016 KUALA LUMPUR PENANG JOHOR BAHRU KOTA KINABALU HIGHLIGHTS KUALA LUMPUR HIGH END CONDOMINIUM MARKET Despite the subdued market, there were noticeably more ECONOMIC INDICATORS launches and previews in the TABLE 1 second half of 2016. Malaysia’s Gross Domestic Product Completion of High End (GDP) grew 4.3% in 3Q2016 from 4.0% Condominiums / Residences in in 2Q2016, underpinned by private 2H2016 The secondary market, however, expenditure and private consumption. continues to see lower volume Exports, however, fell 1.3% in 3Q2016 of transactions due to the weak compared to a 1.0% growth in 2Q2016. economy and stringent bank KL Trillion lending guidelines. Amid growing uncertainties in the Jalan Tun Razak external environment, a weak domestic KL City market and continued volatility in the 368 Units The rental market in locations Ringgit, the central bank has maintained with high supply pipeline and a the country’s growth forecast for 2016 at weak leasing market undergoes 4.0% - 4.5% (2015: 5.0%). correction as owners and Le Nouvel investors compete for the same Headline inflation moderated to 1.3% in Jalan Ampang 3Q2016 (2Q2016: 1.9%). pool of tenants. KL City 195 Units Unemployment rate continues to hold steady at 3.5% since July 2016 (2015: The review period continues to 3.1%) despite weak labour market see more developers introducing conditions. Setia Sky creative marketing strategies and Residences - innovative financing packages Bank Negara Malaysia (BNM) lowered the Divina Tower as they look to meet their sales Overnight Policy Rate (OPR) by 25 basis Jalan Raja Muda KL City target and clear unsold stock.
    [Show full text]
  • Rahim & Co Research Property Market Review 2016 / 2017
    Property Market Review 2016/2017 1 FOREWORD Standard & Poor’s affirmed Malaysia’s A- sovereign rating with strong external position & monetary policy flexibility 2016 was a year of unpredictability I would say. First is the Growth – Inclusive Prudent Spending – Wellbeing of The Rakyat”, a Brexit Referendum results which surprised many, then Portugal pragmatic and Rakyat-Centric budget has emphasized such priority defeated the home favourites’ France and won their first European to enhance the living standards of the rakyat with a special focus on Championship, followed by the election of the Republican candidate the lower and middle-income groups through various programmes Donald Trump as the 45th president of the United States of America and provisions. These include special “step-up” financing for outnumbering the pollster’s pre-election favourite Hillary Clinton PR1MA programme, a “house for rent” programme, stamp-duty just before the end of the year. exemption on instruments of transfer and loan agreement for first home ownership. All these initiatives are aimed to encourage more On the Malaysian property scene, 2016 saw another challenging home ownership and to benefit first-time home buyers. This will year under a tough environment from both the economic and also indirectly boost the property sector especially in the affordable property fronts. Numbers reported in the Property Market Report housing segment. by the Valuation & Property Services Department (JPPH) showed the prolonging of the downward trend in property market activity The World Bank’s “Economic Monitor Report” released in June that started since 2013 though it momentarily improved in 2014 by 2016 had estimated the Malaysian economy to grow at a slower 0.8%.
    [Show full text]
  • Opening Date Hours
    Store Store Name Opening Hours Address 52001 G51 MAHKOTA PARADE 10.00AM-9.00PM LOT G.51, MAHKOTA PARADE GROUND FLOOR, JALAN TAMAN 75000 , MELAKA. 52004 1363 MASJID TANAH 10.00AM-7.00PM MT 1363 PEKAN MASJID TANAH ,78300 MELAKA. 52007 AEON MELAKA 10.00AM-9.00PM F20 AEON MELAKA ,SHOPPING CENTRE , LEBUH AYER KEROH , 75450 MELAKA. 52020 49-51 BATU PAHAT 10.00AM-7.00PM NO 49 & 50 , JALAN BINTANG , OFF JALAN KLUANG , 83000 BATU PAHAT , JOHOR. 52023 BATU PAHAT MALL 10.00AM-9.00PM LOT 1-69 & 1-70 FIRST FLOOR , BATU PAHAT MALL, JALAN KLUANG, 83000 BATU PAHAT, JOHOR 52036 WETEX MUAR 10.00AM-8.00PM WETEX PARADE , LOT 17-18 1ST FLOOR JALAN ALI , 84000 MUAR ,JOHOR 52038 6&7 TANGKAK 10.00AM-7.00PM NO 6 & 7 PUSAT PERNIAGAAN NAIB LONG 2, JALAN MUAR, 84900 ,TANGKAK JOHOR 52143 AEON BIG BATU PAHAT 10.00AM-9.00PM AEON BIG BATU PAHAT , F1.10 JLN TAN SWEE HOE , TAMAN FLORA UTAMA , 83000 BATU PAHAT , JOHOR. 52148 140 SEGAMAT 10.00AM-7.00PM 140 GRD FLOOR , JALAN SIA HER YAM , 85000 SEGAMAT , JOHOR. 52150 851 MUAR 10.00AM-8.00PM 851 MUAR NO 12F GRD FLOOR JALAN BAKRI , 84000 MUAR , JOHOR. 52151 29 KLUANG 10.00AM-9.00PM 29 GRD FLR JLN RAMBUTAN , 86000 KLUANG , JOHOR. 52153 90 BATU PAHAT 10.00AM-7.00PM 90 JALAN KLUANG , 83000 JOHOR BAHRU. 52158 KLUANG MALL 10.00AM-8.00PM KLUANG MALL , LOT G27 & G27A GROUND FLOOR, JALAN RAMBUTAN , BANDAR KLUANG , 86000 KLUANG , JOHOR. 52224 1483 MALIM MELAKA 10.00AM-9.00PM LOT 1483, 1 JALAN MALIM ,75650 MALIM , MELAKA.
    [Show full text]
  • UOW Malaysia KDU Penang University College International Student Handbook 2020
    UOW Malaysia KDU Penang University College International Student Handbook 2020 The information contained in this book was corrected in Mar 2020 and is subject to change without prior notice. International Student Handbook All rights reserved (Updated: 1 March 2020) Contents 1.0 Greetings from UOW Malaysia KDU Penang University College ............................................. 3 2.0 UOW Malaysia KDU's Vision, Mission & Core Value .............................................................. 5 3.0 Great Things About Malaysia ..................................................................................................... 6 3.1 The Pearl of the Orient - Penang ................................................................................................ 7 3.2 Language .................................................................................................................................... 8 3.3 Currency ..................................................................................................................................... 9 3.4 Happenings ................................................................................................................................. 9 3.5 Electrical Equipment ................................................................................................................10 3.6 Clothes and Weather .................................................................................................................10 3.7 Places of Interest .......................................................................................................................10
    [Show full text]
  • The Mall Story
    ISSUE43 Untuk Ahli Sahaja PP12389/04/2013 (031984) JULY 2019 NewsNetwork FEATURES More Than Just Shopping In defence of the mall as “the third place” THE WATCH OUT CASC Conference 2019 MALL Study Trip to Bangkok WHAT’S NEW STORY tHe Spring Bintulu & KTCC MALL PRESIDENT’S MESSAGE PPK MALAYSIA OFFICE BEARERS 2018 - 2020 HONOURABLE MEMBERS OF ADVISORY BOARD Tan Sri Datuk Eddy Chen YBhg Dato’ Ngeow Voon Yean Dear members, Mr Kumar Tharmalingam Mr Richard Chan ur theme for this issue, “The Mall Story” sounds exactly YBhg Dato’ Joyce Yap like what it is - an exciting chronicle of how the shopping Mr HC Chan industry has evolved in Malaysia - from being a shopping O EXECUTIVE COUNCIL MEMBERS locality for the neighbourhood then, to the ultra-modern, chic mega-malls of today. Appropriately, our CASC Conference 2019 President YBhg Tan Sri Dato’ Teo Chiang Kok in September showcases malls from around the Asian region Vice President I and trends of the future as malls today offer beyond purely Ms Phang Sau Lian shopping. Malls have evolved to become the ultimate gathering place for everyone looking for Vice President II merchandise, food and beverage, leisure and entertainment, and services from the mundane like Ms Kung Suan Ai laundry and banking to the leading edge categories like e-sports and extreme sports and the like. Honorary Secretary Mr MK Foong Today’s Malaysian lifestyle involves beyond shopping as a core activity as malls strive to provide Assistant Secretary everything in one location and under one roof, particularly those in mixed developments. Mr KK Lim Competition amongst malls is perpetually intense as all of them attempt to attract and sustain Treasurer their shopping clientele by way of cutting-edge marketing and promotion campaigns.
    [Show full text]
  • Shaping New Malls
    ISSUE42 Untuk Ahli Sahaja PP12389/04/2013 (031984) MARCH 2019 NewsNetwork FEATURES The Emergence of Co-working Hubs Malaysian Shopping Malls Survey, 2018 WATCH OUT Shaping Certification Course in Shopping Mall Management CASC Conference 2019 New CASC-PPKM Awards 2019 WHAT’S NEW Malls EkoCheras Mall, Capital City Mall and The Linc PRESIDENT’S MESSAGE PPK MALAYSIA OFFICE BEARERS 2018 - 2020 HONOURABLE MEMBERS OF ADVISORY BOARD YBhg Dato’ Ngeow Voon Yean Tan Sri Datuk Eddy Chen Dear members, Mr Kumar Tharmalingam Mr Richard Chan reetings! We are now looking ahead to yet another year of YBhg Dato’ Joyce Yap great shopping and exciting shopping malls. As expected, Mr HC Chan many malls have already opened over the past few months G EXECUTIVE COUNCIL MEMBERS in the Klang Valley and in other regions, with a few more major ones to open very soon. This augurs well for shoppers President in Malaysia as there will be more retail offerings in store. It is Vice President I the norm, or even essential for all new malls to try to have a YBhg Tan Sri Dato’ Teo Chiang Kok different edge or something new – in terms of retail merchandise, types of outlets or even in their Vice President II concepts, which will essentially depend on the malls’ individual target market and catchment Ms Phang Sau Lian areas. Honorary Secretary Ms Kung Suan Ai Mr MK Foong In SHAPING NEW MALLS, we are much aware that, of late, malls have evolved to offer a bigger Assistant Secretary percentage of food & beverage (F&B) outlets of up to even 30% of their retail mix, with some Mr KK Lim becoming ‘lifestyle malls’.
    [Show full text]
  • Green Building and Township Guidelines, As in the Case of Batu Kawan
    PENANG GREEN AGENDA 2030 Title: Green Buildings and Townships Prepared by : Green Buildings and Townships Working Group Division : Think Tank & Policy Date : June 2020 EXECUTIVE SUMMARY Penang’s urban areas continue to expand with the development of new towns and even new landmass through land reclamation. To promote greener construction and buildings, Penang’s Local Governments are providing various incentives to encourage developers to aim for green building certification, especially the Green Building Index (GBI) promoted by Malaysia Green Building Council. Currently Penang has the third highest number of GBI certified buildings in Malaysia, after Kuala Lumpur and Selangor. Despite this, the uptake of GBI certification has been slow and the trend is likely to remain so, unless positive and effective measures are introduced by the State Government. Penang launched the Batu Kawan Eco-City initiative in 2011 with an aim to create sustainable growth for the new city with mixed development with the highest quality of life socially, economically and environmentally. The Batu Kawan Eco-City guidelines specify that all commercial and residential buildings within the 2,600 ha development are to be GBI certified.1 It also encourages the building of cycling paths and pedestrian walkways, adoption of green technologies such as LED lighting, as well as the creation of 40% of the total development as public space.2 In reality, enforcement and implementation of the guidelines have been lacking and there is a real danger that the vision of Eco-City will not be achieved by 2030. Apart from Batu Kawan, there is no concrete plan at the State and Local Government levels to build new - or convert existing townships into - green townships.
    [Show full text]
  • Pansar Shares to Be Issued Arising from the Conversion of RCPS on the Main Market of Bursa Securities
    All terms and abbreviations used herein shall have the same meanings as those defined in the "Definitions" section of this Abridged Prospectus unless stated otherwise. No securities will be allotted or issued based on this Abridged Prospectus after 6 months from the date of this Abridged Prospectus. THIS ABRIDGED PROSPECTUS IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. YOU ARE ADVISED TO READ AND UNDERSTAND THE CONTENTS OF THIS ABRIDGED PROSPECTUS. IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, PLEASE CONSULT A PROFESSIONAL ADVISER IMMEDIATELY. All enquiries concerning the Rights Issue which is the subject matter to this Abridged Prospectus should be addressed to our Share Registrar, Metra Management Sdn Bhd (Registration No.: 198001008385 (62169-A)) at 35th Floor, Menara Multi-Purpose, Capital Square, No.8, Jalan Munshi Abdullah, 50100 Kuala Lumpur, Malaysia (Tel No.: (03) 2698 3232). This Abridged Prospectus has been registered by the SC. The registration of this Abridged Prospectus should not be taken to indicate that the SC recommends the Rights Issue or assumes responsibility for the correctness of any statement made, opinion expressed or report contained in this Abridged Prospectus. The SC has not, in any way, considered the merits of the Rights Issue. A copy of this Abridged Prospectus, together with the NPA and RSF (collectively, the "Documents") has also been lodged with the Registrar of Companies who takes no responsibility for its contents. The approval from our shareholders for the Rights Issue was obtained at the Meeting of Members convened on 22 December 2020. Approval has been obtained from Bursa Securities vide its letter dated 30 October 2020 for the admission of the RCPS to the Official List of Bursa Securities and the listing of and quotation for the RCPS and the new Pansar Shares to be issued arising from the conversion of RCPS on the Main Market of Bursa Securities.
    [Show full text]