11MP to herald more houses, higher income and better Government services

PETALING JAYA: More affordable housing, higher per-capita income and strengthened national infrastructure – these are in the pipeline when the 11th Malaysia Plan (11MP) kicks off Thursday.

“The Plan, set to run from 2016 to 2020, marks a momentous milestone in our nation’s history.

“With 2020 now just five years away, the Eleventh Plan is the next critical step in our journey to become an advanced nation that is inclusive and sustainable,” said Prime Minister Datuk Seri Najib Tun Razak at the launch of 11MP.

The 11MP has six key thrusts, namely; strengthening macroeconomic resilience for sustained growth, enhancing inclusiveness towards an equitable society, improving well-being for all, accelerating human capital

development for an advanced nation, pursuing green growth for sustainability and resilience, strengthening infrastructure to support economic expansion and re-engineering economic growth for greater prosperity.

The 11MP will see 3,000km of paved roads constructed and 90,000 additional households being supplied with clean, treated water and 36,800 homes being supplied with electricity.

It will also see the mean monthly household income being raised to RM5,270 from RM2,537 in 2014.

“The 11th Malaysia Plan will make the difference – it contains specific strategies and programmes bounded on outcomes to unlock productivity and transform innovation to wealth.

“Spurring productivity and innovation will provide the basis for sustained economic growth, create new economic opportunities and ensure continued well-being and prosperity of the rakyat,” said Najib.
He added that under the 11MP, the people will be the focus of all development efforts.

“The Plan will disproportionately focus on the people – the rakyat will be the centre piece of all development efforts,” said Najib.

The 11MP will see further improvements to safety in Malaysia, with an optimised emergency response time being set at eight minutes, a 5% reduction in the annual crime index.

Additionally, the 11MP aims to improve universal access to healthcare for all Malaysians, with a target of 2.3 hospital beds for every 1,000 people and a 1: 400 patient to doctor ratio.

It also aims to provide adequate quality, affordable housing to poor, low and middle-income households with 47,000 houses to be constructed or repaired for the poor and 606,000 houses to be developed for low and middle-income households

“The Eleventh Plan will be premised on the Malaysian National Development Strategy that will focus on rapidly delivering high impact outcomes to both the capital economy and people economy at affordable cost,” said Najib.

It was also revealed under the plan that the plan would work on strengthening disaster risk management (DRM), improving food mitigation and enhancing climate change adaptation as well as creating green markets, increasing the share of renewables in the energy mix, promoting low-carbon mobility and managing waste holistically.

“In order to sustain our growth momentum and ensure that the rakyat continue to prosper, we need to forge ahead with greater resolve and introduce bold measures for the long-term benefit of all Malaysians,” said Najib.

He added that greater volatility and uncertainty in the global economy was foreseen due to declining oil prices, realignment of exchange rates and geopolitical risks.

“We have to be cognisant that the global landscape is going to be increasingly challenging,” said Najib

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Bash to mark developer’s completed project

New lease: Ng (fourth from left) with representatives of tenant companies holding up a signed plaque to officiate their commencement as tenants.

ENGTEX Properties Sdn Bhd hosted an appreciation party for about 800 guests to celebrate its newly completed mixed commercial project, Emerald Avenue.

While guests wined and dined and were entertained with musical performances, the signing ceremony of tenants such as Jaya Grocer and Vibe Fitness also took place at the party.

There was also a lucky draw for those who were present.

“This function is held to thank our business partners, buyers, contractors and designers, all of whom have helped to make Emerald Avenue happen,” said Engtex Properties marketing general manager Jessica Ng.

The integrated development, located in Prima Selayang, Batu Caves, comprises the E Mall, E Retail, E Suite, E Duplex and a four-star international hotel.

E Retail has 120 units of three-storey shoplots while E Suite and E Duplex have 188 units and 71 units respectively, with most of the units fully sold.

The mall, with 22,296sq m of retail space, has an almost complete occupancy rate, while the hotel will be run by Mercure Hotel of the Accor Group.

“We have had presence in Selayang for over four years now since our first project, Tiara Residences, and we have yet to see a concept like this being introduced here.

“We know there is a demand and need for higher-end products in this area, which has a population of about 600,000,” explained Ng.

She said people today appreciated a better lifestyle, environment and security, and these were the factors taken into account for the concept of Emerald Avenue.

Ng said they envisioned the location to be right for the project when they saw it in 2008.
“The development is the company’s endeavour to offer something different from what Selayang already has.

“It is the area’s new heartbeat for a modern lifestyle and a unique commercial zone built for the community,” she stated.

Emerald Avenue will officially open its doors by end of the year.

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Kimlun plans residential property project in Kota Tinggi

KUALA LUMPUR: Kimlun Corp Bhd plans to undertake a residential property project in Kota Tinggi, Johor following the purchase of 29 parcels for RM28.30mil cash.

It had on Wednesday it had inked a sale agreement with two individuals to en bloc purchase 29 parcels of contiguous freehold land measuring about 140.8 acres.

The next stage for Kimlun is to convert the agricultural land to residential status a year after it completed the acquisition.

Kimlun said the development application would be submitted to the relevant authorities for approval after getting the go-ahead from the state authority which includes the conversion application and finalisation of the development planning.

“The source of funds to finance the development is likely to be from internally generated funds and bank borrowings,” it said.

The site is about two km from the Kota Tinggi town centre and this would enable Kimlun to increase the size of its land bank in strategic location to enhance its future revenue and earnings.

The land acquisition will be satisfied via a mix of bank borrowings and internally generated funds.
Assuming 60% is financed via commercial loans, it said the gearing ratio of the group was expected to increase by 0.04 times to 0.44 times.

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OSK Property expects current projects to sustain 2015 earnings

An artist’s impression of Mirage by the lake condominiums and lake villas being developed by OSK Property in Cyberjaya.

PETALING JAYA: Ongoing residential and commercial projects for the remainder of the year will continue to help sustain OSK Property Holdings Bhd’s earnings.

This is despite the softer property market currently, said the company.

“All of the group’s projects are progressing well and are expected to contribute positively to the earnings of the group for the remainder of the year.

“The board is optimistic that the group will achieve satisfactory results for this year,” OSK Property said on Wednesday.

The group acknowledged that it expects the property market in general to continue to be challenging.

“Despite this, the group’s phase 3 (Eclipse Residence) of Pan’gaea project in Cyberjaya is almost sold out as take up rate reached 98%. Meanwhile, Emira Residence project in Shah Alam has achieved sales of 75%. The Group’s first mall – Atria Shopping Gallery in Damansara Jaya is completing and is expected to open to the public by end of May 2015.

In a report early this year, Jones Lang Wootton Malaysia executive director Malathi Thevendran was quoted as saying that retail space in Klang Valley is projected to grow from 55 million sq ft to 80 million sq ft by 2017.
An industry observer said there is still good demand for retail space, despite large, incoming supply.

“There is still demand, so long as it is meeting the right kind of demand,” he said, adding that potential mall managers should conduct proper research beforehand to determine if building a new mall would be feasible.

For its first quarter ended March 31, 2015, OSK Property’s net profit surged 111% to RM48.3mil from RM22.9mil registered in previous year’s corresponding quarter. Meanwhile, the revenue has seen a surge of 103% to RM284mil from RM139.7mil.

“The higher profit in the first quarter is mainly due to the disposal of freehold land to PR1MA Corporation Malaysia (PR1MA) and higher level of construction work carried out during the current period for on-going projects such as Pan’gaea in Cyberjaya, Mirage Residence in Kuala Lumpur, Atria SOFO suites in Damansara Jaya and Bandar Puteri Jaya in Sungai Petani,” said the company.

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Strong interest in commercial development

Well attended: Prospective buyers checking out property at EkoCheras Hotel and Office Suites launch at its sales gallery in Jalan Desa Gombak 1.

DEVELOPER Ekovest Bhd says it saw brisk sales at the launch of its EkoCheras Hotel and Office Suites project.

Ekovest managing director Datuk Lim Keng Cheng said within the first hour of the launch last month, 50% of the hotel and 40% of the office suites were booked.

EkoCheras is a mixed development situated on a 4.8ha freehold land on Jalan Cheras and is close to the planned Taman Mutiara MRT station. It consists of serviced apartments, office suites, hotel suites and a shopping mall.

“Our concept is to transform the office requirements in Cheras. The traditional businessman in Cheras buys a shoplot and turns it into an office but since we launched our residential units a lot of people have started requesting for Grade A offices.

A Grade A office is a brand new, recently developed or refurbished office building in a prime location.

“That is why we converted our original shops lot into a four-level shopping mall and built an office tower.

“Many people also requested for the hotel. The hotel is flexible, we allow people to invest in it and we will lease back from them or they can choose to stay. It will be managed by Ekovest Asset Management.

“In all our development, we emphasise clean, neat and sustainable designs. Our designs are also durable and energy-efficient.

Changing landscape: Ekovest Bhd managing director Datuk Lim Keng Cheng (left) being congratulated by Federal Territory MCA chairman Datuk Yew Teong Look at the launch of the EkoCheras Hotel and Office Suites.

“We are very particular with the with the materials and systems that we use,” he said at a press conference after the launch at its sales gallery in Jalan Desa Gombak 1.

The hotel suites are priced RM100 per sq ft and come in two layouts of 250 sq ft. The office suites are priced at RM800 per sq ft and range between 1,118sq ft and 2,706sq ft.

The launch was attended by Federal Territory MCA chairman Datuk Yew Teong Look.

Ekovest sales and marketing manager Brandon Lim says the company is well aware of the flooding that happen occasionally in the area and have plans underway to mitigate future floods.

“Kuala Lumpur City Hall awarded tenders on Dec 3 last year to upgrade the Jalan Cheras crossing from Taman Mutiara Barat towards the opposite side of Sungai Kerayong.

“EkoCheras assisted DBKL to design and prepare the pipe culvert tender document for free.

“A total of four pipe culverts with the diameter of 1.5m will be installed to ensure a greater discharge capacity with the existing box culvert. Relocation of services has begun on Jan 8 and DBKL is expecting the completion of the pipe culverts by Sept 16 this year.

“Jalan Cheras fronting EkoCheras Development Kuala Lumpur bound traffic side will be raised between 0.5m to 1m. Accordingly, the basement entry/exit points thus completely eliminating the surface water from entering into the basement.

“As a further measure, the basement will also be equipped with pumps to discharge any incidental surface water originating from the basement entry/exit points,” he said, adding that the company is also building a U-turn ramp to MRR2 heading towards Jalan Ampang which is expected to be completed by 2017.

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Making your home in Semenyih

ONE would never have guessed it, but there’s an exquisite gem that’s waiting to be discovered at Semenyih, Selangor.

Allow yourself to be swept away by the natural beauty of gently undulating hills and enjoy the welcome respite from having a home away from the hectic city life. Consisting of serviced apartment units, Ascotte 

Boulevard is the first high-rise residential development in Semenyih.

There are four types of units, distinguished by two factors — the location (intermediate or corner) and built-up size (860 – 1,100 sq ft / 80 – 102 sqm).

The smaller units are perfect for single individuals or those with small families, considering the affordable price tag of RM286,000. The bigger units would attract those with larger families or people who want more space.

At a recent showing by PropLeague Realty Sdn Bhd, project sales director Steven Tay showed us the unit Type BC, a corner lot with a spacious built-up of 1,051 sq ft (98 sqm). Tastefully designed in an elegant, minimalistic style, it represented the epitome of ‘living in the lap of luxury’.

The unit comes with three bedrooms of a capacious size, two bathrooms, a living and dining area, as well as a kitchen that looks out onto the apartment’s very own private yard deck. The entire area provides enough room to grow and bond with loved ones.

“People have the assumption that Semenyih is far away from main development areas, but with the recent spate of new properties being developed and interest shifting to locations further south, Ascotte Boulevard looks set to amaze its residents,” said Tay.

Propwall has over 100 active listings of houses for sale and rent in Semenyih, Selangor.

Details

Development: Ascotte Boulevard (Type BC)

Address: Jalan Semenyih, 43500 Semenyih, Selangor

Property type: Serviced Apartment

Tenure: Freehold
Bedrooms: 3
Bathrooms: 2
Built-up: 1,051 sq ft
Furnishing: Unfurnished
Selling price: From RM394,000
Selling price per sq ft: RM326
Potential rental: RM1,800
Parking space: 2
Facilities: Health reflexology park, children’s playground, herbs garden, morning jogging track, kindergarten, multipurpose hall, cafe, barbecue area, garden pavilion, infinity swimming pool, wading pool, gymnasium, retail shops, 360° viewing deck, rooftop garden, linear gardens, surau.
Security: CCTV / Control Room, 3-tier multifunction access door, gated and guarded 24-hour security
Maintenance: RM0.22 per sq ft (including sinking fund)
Developer: TopHome Builder Development Sdn Bhd

Neighbourhood
Business: Local and multinational companies at Beranang Industrial Park and Kesuma Industrial Park
Schools/colleges: Kampung Rinching Primary School, Rinching Hilir

Tropicana profit seen improving this year after buoyant Q1

An artist’s impression showing the view from the sky gym of the Tropicana Metropark project in Subang Jaya.

PETALING JAYA: Property developer Tropicana Corp Bhd, which recorded a year-on-year net profit growth of over 140% for its first quarter ended March 31, is expected to see improved earnings this year as more projects come on-stream.

“We expect sales to pick up, as Tropicana only did a soft launch for Tropicana Aman in the second quarter of 2015, which was well-received by the market,” said Kenanga Research in a report yesterday.

UOB Kay Hian Research in its report yesterday concurred: “We expect full-year earnings to improve in the following quarters, as initial quarters would have been seasonally slower.”

Tropicana’s net profit for its first quarter surged 146% to RM19.28mil from RM7.83mil in the previous corresponding period due to higher revenue across key projects and proceeds from land sales.

Revenue during the period increased to RM390.92mil from RM252.68mil in the previous corresponding period. UOB Kay Hian Research said net profit has been seeing improved margins.

“Net margin rose to 16.2% in the first quarter of 2015, as a result of lower finance charges after the company’s move to capitalise the interest expense incurred based on the progress billings of the projects, as well as its developments going through to more advanced stages, and hence, the improvement in margins.”

In a statement on Monday, Tropicana said first quarter earnings were driven by key projects within the Klang Valley, such as Tropicana Gardens in Kota Damansara, Tropicana Heights in Kajang and Tropicana Metropark in Subang Jaya, as well as Tropicana Danga Bay in the Iskandar Region in Johor and gain from a land sale located in the Klang Valley.

“The marketing strategy for 2015 will be to vary and adapt launches to suit market demand – incorporating higher components of landed properties.

“The group will focus on projects in the central and northern regions for 2015, where the markets are more resilient,” it said.

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