New Customs, Immigration and Quarantine CIQ toll fee charge

Johor Bahru: Johor state government engineering department announced that with effectively 1 August 2014, it will adjust the vehicle entry fee using Johor new Customs, Immigration and Quarantine CIQ from one way charge to two ways charges.

Current one way charge is RM2.90 from Singapore entry to Johor. With the new charges, car from Singapore entry to Johor Bahru will raised to RM9.70, and charge RM6.80 from Johor to Singapore.

Statement from the Johor state engineering department, car, lorry, taxi and bus will be affected by the new toll fee system, however motorcycle are excluded.

Based on the statement, new toll fee system only affects the drivers who are drive thru Johor new Customs, Immigration and Quarantine CIQ, which is Sultan Iskandar Building BSI. The new toll fee station will be setup inside the new CIQ, while drivers who are using Eastern Dispersal Link EDL to and from Johor Bahru, North South Expressway, Permas Jaya and Pasir Gudang will not be affected.

The statement also revealed that the new toll fee station will only accept electronic charge, which mean drivers need to buy the electronic cash card “Touch’ N Go”.

EDL Toll Fee 2 Way Charges 

Forest City the land reclamation iskandar project

Recently Forest City iskandar project at Tanjung Kupang gains a lot of attentions from local Malaysian and Singaporean. It is especially heated up when Singapore government request for environment research report regarding the land reclamation.

KPRJ stated that Forest City which is located at Tanjung Kupang is a 30 years mixed integrated iskandar project  plan, and the gross development value GDV amounted to RM600 billion.

The Chairman of KPRJ Datuk Osman revealed in the press conference, KPRJ suggests the Forest City development to taken up johor land area of 5000 acres. However, it is believed that the actual johor land size for Forest City when completed is around 4000 acres.

Osman pointed out that the iskandar project development including residential housing, commercial zone, school and etc. It is expected 250,000 to 500,000 people will stay and work there in the Forest City.

For the current stage, Forest City is in the progress of land reclamation for 49.3 hectare. It is expected to build a showroom as a center to manage Forest City related development and information center showcase the information related to Forest City.

Due to Singapore concern about the land reclamation which may affect its border, environmental and ocean resources, Johor state environment department already ordered to stop the land reclamation. The first stage of land reclamation that expected to be completed in 18 months hence to be delayed.

Osman emphasize that the Forest City iskandar project so far have undergoing related water conservancy research to ensure Forest City project doesn’t affected the ocean system, or causing pollution to the environment.

Forest City is a joint development between Country Garden and Esplanade Danga under the company name Country Garden Pacific View. Country Garden own 60% of the share while Esplanade Danga hold the rest 40% of Country Garden Pacific View. KPRJ is the shareholder of Esplanade Danga with 20% stake in it.

Overnight Policy Rate OPR raised to 3.25 percent in Malaysia

Bank Negara Malaysia has raised the Overnight Policy Rate (OPR) by 25 basis points to 3.25 per cent as expected by the market which has been hot topic recently.

The floor and ceiling rates corridor for the Overnight Policy Rate OPR are correspondingly raised to 3.00 per cent and 3.50 per cent respectively.

The Monetary Policy Committee said the adjustment in the monetary policy, after standing pat at 3.00 per cent for three years, was being done amid firm growth prospects and with the above-average inflation level.

It said the normalisation of monetary conditions also aims to check on the financial imbalances that could undermine the growth prospects of the Malaysian economy.

“At the new level of the OPR, the stance of monetary policy remains supportive of the economy. “

In its latest analysis, the central bank described the prospects for the Malaysian economy to remain firmly on a steady growth path.

As to inflationary pressures, it said inflation has been relatively stable as the effects of the price adjustments for utilities and energy continue to moderate.

Demand driven inflation remains contained.

“Looking ahead, inflation is, however, expected to remain above its long-run average due to the higher domestic cost factors.”

Below is the Monetary Policy Statement from  Bank Negara Malaysia (Central Bank Of Malaysia)

Monetary Policy Statement

At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to raise the Overnight Policy Rate (OPR) by 25 basis points to 3.25 percent. The floor and ceiling rates of the corridor for the OPR are correspondingly raised to 3.00 percent and 3.50 percent respectively.

After moderating in the first quarter, the global economy has resumed its path of gradual recovery. Economic activity in the major advanced economies continues to expand at a modest pace. In Asia, the better external environment is supporting growth amid continued expansion in domestic demand. In this environment, international financial markets have remained relatively stable.

For Malaysia, latest indicators point to continued strength in exports and private sector activity. Going forward, the overall growth momentum is expected to be sustained. Exports will continue to benefit from the recovery in the advanced economies and from regional demand. Investment activity is projected to remain robust, led by the private sector. Private consumption will be supported by stable income growth and favourable labour market conditions. The prospects are therefore for the Malaysian economy to remain firmly on a steady growth path.

Inflation has been relatively stable as the effects of the price adjustments for utilities and energy continue to moderate. Demand driven inflation remains contained. Looking ahead, inflation is, however, expected to remain above its long-run average due to the higher domestic cost factors.

Amid the firm growth prospects and with inflation remaining above its long-run average, the MPC decided to adjust the degree of monetary accommodation. This normalisation of monetary conditions also aims to mitigate the risk of broader economic and financial imbalances that could undermine the growth prospects of the Malaysian economy. At the new level of the OPR, the stance of monetary policy remains supportive of the economy.

Further review of the degree of monetary accommodation will depend on the MPC’s assessment of the balance of risks surrounding the outlook for domestic growth and inflation.  At the same time, the MPC will also continue to monitor for risks of destabilising financial imbalances.

Bank Negara Malaysia
10 July 2014

The Meridin @ Medini by Mah Sing Group

The Meridin @ Medini

Mah Sing Group new launch iskandar project @ Medini, Iskandar Malaysia

Meridin Suites - Invest Malaysia Iskandar Malaysia

Price: Ranging from RM 282,000 - RM924,000

- Infinity swimming pool
- Jacuzzi 
- Children's wading pool
- Playground 
- Thematic landscaped gardens
- Gymnasium
- Fitness par course
- Yoga deck
- BBQ terrace
- Multi purpose hall
- Reflexology paths
- Steam room
- Pavilion and Gazebos
- Child Care Center
- Reading room
- Business Centre
- Laundrette

Meridin SOVO

Meridin Suites

Greenland Danga Bay New Launch Iskandar Project Jade Palace

Greenland Danga Bay - Jade Palace

 CHINA’S state-owned Greenland Group plans to build new launch apartments and a private club, among others, at its first iskandar project called Jade Palace in Iskandar Malaysia.

The Shanghai-based group, through its Malaysian subsidiary Greenland Danga Bay Sdn Bhd, will develop the iskandar project on a 760,000 sq ft site in prime waterfront area Danga Bay, Johor Bahru.

Greenland Group signed an agreement in April for the purchase of the johor land at Danga Bay from Iskandar Waterfront Holdings Sdn Bhd IWH for RM600 million.

Danga Bay was chosen because of its strategic location in Iskandar Malaysia, which has seen robust growth in recent years, said Greenland Group Malaysia general manager Wu Shao Hua at the new launch of the Greenland Danga Bay brand, here, on last Wednesday night.

Danga Bay prime waterfront area are the top choice of commercial land purchase from China developers. Country Garden and R&F Properties also chose to purchase this johor land location as their maiden iskandar project for their oversea foray.

“Called Jade Palace, the new launch iskandar project will take us five to eight years to develop,” he said.

The gross development value gdv of the iskandar project have yet to be ascertained because the company’s operation is still at its planning stage and not finalised.

Greenland Danga Bay iskandar project will comprise stylish high-rise residences with panoramic view, resort homes, commercial shop offices and theme street malls.

The iskandar project development will offer a comprehensive all-in-one living and lifestyle services, such as home delivery, general housekeeping, home improvement, interior landscaping and property management.

Last Saturday, Greenland Danga Bay having its product introduction and register of interest at Thistle Hotel Orchid ballroom. It is very soon the new launch apartments ready for official launch and offer to public for interested house buyers, foreigner house buyers and real estate investors.

Taking about recently massive iskandar project developments and the market demand, Greenland Group Malaysia general manager Wu Shao Hua said it it choose Iskandar Malaysia because he expected Singapore industry will gradually move in to Iskandar Malaysia.

"The movement of industry from Singapore to Iskandar Malaysia will increase the human mobility, and increase the consuming power. Although Johor is a small town now, but with the completion of Rapid Transit System RTS from Singapore to Johor Bahru Tanjung Puteri and Kuala Lumpur - Singapore high speed rail in future, Iskandar Malaysia will develop in faster pace."

He also mentioned that they are discussing with Singapore authority for the transportation infrastructure project. 50% of house buyers Greenland Danga Bay Jade Palace iskandar project is expected to be sell to foreigners. House buyers and investors from China, Hong Kong, Singapore, Middle East and Indonesia are their targeted foreign house buyers, said Greenland Danga Bay marketing manager Yi Fang.