Monday 29 September 2014

Penang's Ivory Properties in RM2bil joint venture in Johor Bahru

PETALING JAYA: Penang developer Ivory Properties Group Bhd has entered into a joint venture (JV) with JB Lee Properties Sdn Bhd for a mixed project with an estimated gross development value GDV of RM2bil in Teluk Jawa, Johor Bahru.

In a filing with Bursa Malaysia, the company said the JV was in line with its strategic plan of expanding its reach outside Penang and securing partnerships to develop strategically located land-bank.

This will be Ivory’s first project outside Penang.

“Johor has been making waves with its current measures to spur economic growth and attract investment,” group chief executive officer Datuk Low Eng Hock told StarBiz. “This land of opportunity has since become a haven for property development for many top-notch property moguls.”

Ivory unit, Ivory Residence Sdn Bhd, and JB Lee have agreed to enter into an unincorporated JV for the proposed development.

JB Lee, which is principally involved in property investment, owns the 7.1-acre freehold agriculture land in Johor Bahru.

“The property will be converted and re-zoned for use as a mixed development of residential and commercial properties,” the company said.

Low said the development would consist of four blocks of residential towers, which would sit above a commercial podium featuring retail outlets.

“However, this is still subject to approval from the authorities,” he added.

Ivory’s participation in the proposed JV will be funded via internal funds or bank borrowings.

Barring any unforeseen circumstances, Ivory expects the proposed JV to be completed by the year 2020.

Ivory is positive on the proposed development despite talk of the property market slowing.

“We are quite positive on this, given the great location, which is especially ideal for professionals working in the Pasir Gudang industrial and logistics hub. Through the JV, the landowner and developer share the risk,” he said.

Moving forward, Low said the company was open to more developments outside Penang, especially in Kuala Lumpur and Johor Bahru.


Source: http://www.thestar.com.my/Business/Business-News/2014/09/26/Ivory-Properties-in-RM2bil-joint-venture-in-Johor-Baru/

Developer insists Johor’s biggest reclamation project is above board

The developers of the Forest City project in Johor today insisted that it had followed all the procedures involved when taking part in the biggest land-reclamation project in the southern state of Malaysia.

The Forest City project will see four man-made islands being built in the waters of Tanjung Kupang between southwest Johor and northwest Singapore.

Country Garden Pacific View Sdn Bhd (CGPV) released a statement to clarify several facts while reaffirming its commitment to dialogue and engagement with those concerned.

"In January this year, CGPV received clearance from the Johor Department of Environment to commence reclamation works for the pilot phase."

"CGPV voluntarily ceased operations in June when we were informed that there were concerns about the Forest City project.

"We then voluntarily engaged an independent consultant to conduct a Detailed Environmental Impact Assessment (DEIA) and Hydraulic Study on the project."

CGPV said a preliminary report on the Forest City project was then submitted to the authorities, who subsequently granted the developer zoning approval.

"When the first draft of the DEIA and hydraulic study was compiled, several focus group discussions were held with local communities on September 14.

"The purpose of the focus group discussions was to obtained their feedback and concerns about the project to be included in the final DEIA report."

CGPV said another public dialogue was held on September 21 with more than 250 people turning up for the Q & A session with the company.

The developer said the final DEIA report was expected to be ready for submission in two weeks’ time, and will be publicly available.

The Malaysian Insider had reported on September 21 that public dialogue had been a fiery affair with villagers of Tanjung Kupang in Johor venting their anger.

The villagers argued that the biggest land-reclamation project in Johor would lead to the loss of their land and livelihood.

About 200 residents from about a dozen villages around Tanjung Kupang accused CGPV of bulldozing the project through their area without their knowledge.

NGOs, independent experts and political parties also turned up at the dialogue and questioned the developers on details which they claimed were lacking in the DEIA.

These included measures to reduce the damage to a field of sea grass that is an important nesting ground for the fish population which sits in the middle of the project.

Residents were also concerned with efforts to reduce backflow which could lead to flash floods in the area.

It was reported that the islands will have both residential and commercial lots and the project is expected to make a profit of nearly RM290 billion over the next 30 years for CGPV.

The gross development value (GDV) of the project will come up to RM600 billion.

CGPV is a 66-34% joint-venture between China’s Country Garden Holdings Ltd and Esplanade Danga 88 Sdn Bhd, whose main shareholder is the Sultan of Johor.

A state company, Kumpulan Prasarana Rakyat Johor (KPRJ), is also a partner in the project.

The controversial project entails 355ha along the Strait of Johor, close to the Second Link to Singapore and the Port of Tanjung Pelepas (PTP), and the reclamation of another 1,620ha.

The public hearing on September 21 is one of the terms of a DEIA on the project that CGP has to submit to the Johor government.

The project had initially been approved by the Johor Department of Environment in January, but work at the project’s site was halted in June after CGPV was instructed to submit a DEIA.

The project is being done off the coast of communities of fishermen and sleepy villages, who make a living from sea produce and agriculture in Tanjung Kupang.

The September 21 hearing in the packed Kampung Pok community hall had proceeded smoothly, until a consultant for the project started talking about a survey that was done among villagers.

Forest City project director Datuk Zamani Kasim said there was a focus group meeting with village representatives in June, where the community’s leaders had supported the project.

The company said it had surveyed 100 heads of households in the village. The survey showed 69.2% agreed to the project, while 71.3% thought it had a more positive impact.

CGPV said it had a focus group meeting with village heads and elders where they agreed to the project.

KPRJ executive vice-chairman Datuk Mohd Othman Yusof tried to calm the crowd and win them over with arguments that the people of Johor would benefit from the massive project.

But, residents would have none of it and shouted that they still rejected the project. – September 27, 2014.


Source: www.themalaysianinsider.com/malaysia/article/developer-insists-johors-biggest-reclamation-project-is-above-board

Sunday 28 September 2014

JB Revitalisation - Sungai Segget works in full swing

JOHOR BARU: THE Sungai Segget revitalisation and beautification project is progressing in its first phase of river cleaning works and underground sewage pipe works, slated to be completed by 2015.

The project is part of the Johor Baru Transformation Plan undertaken by the state government to improve the quality of river water.

The project is all the more crucial after a stretch of road, which is now the Segget Walk, was built over it six years ago.

Due to the poor sewerage system, the river conditions deteriorated, compounded by the city’s drainage system which also flows into the river and into the Johor Straits.

That had prompted the state government to embark on a major facelift along the area.

Iskandar Regional Development Authority (IRDA) was assigned the RM220 million project which began in July last year.

The project is divided into two phases: the first to clean up the river as well as retrofitting of centralised sewerage treatment system.

Second, to carry out flood mitigation system and river beautification works slated to complete by 2016.

This will include breaking part of Segget Walk near Jalan Wong Ah Fook to pave the way for river widening works. For this, the state government will procure several properties along the road.

IRDA advisory council member Tan Sri Shahrir Abdul Samad told Streets the entire river work development project is slated for completion in 2017.

“The first phase is currently progressing with river cleaning works and retrofitting of the new centralised sewerage system,” said Shahrir at an event in the city centre.

Shahrir said the new sewerage system, designed to trap waste, will ensure that excess water from drains flowing into Sungai Segget would be free from rubbish and pollutants.

“The new system also has a water cleaning system which ensure that the river water stay clean,” he said.

Johor Baru City Council chief whip Datuk Yahya Jaafar said the river widening project will see a 15m width between the river banks.

However, he said the project might affect Jalan Wong Ah Fook as the existing four-lane road will have to be reduced to two lanes.

“We fear that the two-lane road will cause traffic congestion.

“We are in talks with IRDA to turn Jalan Wong Ah Fook into three lanes for better traffic flow,” he said.

Yahya added that if the roads become narrow, it will disrupt the public transport services in the city centre.



Source: www.nst.com.my/node/36539

Tuesday 23 September 2014

Singapore's MOT waits M’sia confirmation on Rapid Transit System's (RTS Johor) location

JOHOR BARU: Singapore's Ministry of Transport (MOT) will await Malaysia's confirmation on the location of the Rapid Transit System's (RTS) final transit terminal before work can commence.

The MOT, in a media statement late yesterday (Sept 23), said the Singapore government has not received official confirmation from Malaysia on the location of the RTS Johor.

"We look forward to Malaysia’s confirmation when the Malaysia-Singapore Joint Ministerial Committee for Iskandar Malaysia (JMCIM) meets next month," read the statement, quoting an MOT spokesman.

The statement also added that confirmation of the location of the proposed RTS terminal is required before both sides can finalise the alignment of the crossing from Singapore to Johor Bahru.

The statement came in response to media queries following an earlier report in the New Straits Times on Sept 20 with regards to the RTS Johor final transit terminal in Bukit Chagar here.

In the report, Johor Public Works, Rural and Regional Development Committee chairman Datuk Hasni Mohammad confirmed that Bukit Chagar will be the RTS Johor final transit terminal and will have its own Customs, Immigration and Quarantine (CIQ) clearance facilities.

It is understood that the RTS Johor from  Singapore to Johor Bahru is an extension of the republic’s Thomson Line which will have its northern most station to be located at Woodlands North.

With that, once the Singapore Thomson Line 43km line is constructed, it will be linked directly to the Bukit Chagar RTS Terminal.


Source: www.nst.com.my

Monday 22 September 2014

Selangor unveils restrictions on foreigners buying properties

Selangor has unveiled a new set of guidelines for property purchases by permanent residents, foreigners and foreign companies within the state, reported the media.
Notably, the new guidelines generally restrict foreigners from acquiring all types of properties costing less than RM2 billion in most of the state’s districts. This is an increase from the previous cap of RM1 million announced in last October’s budget.
Outlined in a circular dated 28 August, the measures were effective from 1 September 2014, with the circular signed by Department of Lands and Mines Selangor director Datuk Kamarulzaman Jamil.
Under the new guidelines, commercial, industrial and residential properties are divided into three zones.
Zone one includes the districts of Gombak, Petaling, Sepang, Klang and Hulu Langat, while zone two encompasses Kuala Selangor and Kuala Langat. Zone three covers the districts of Sabak Bernam and Ulu Selangor.
Foreigners, PR holders and foreign companies are permitted to acquire residential properties with a minimum price of RM2 million in Zone 1 and 2, and a minimum price of RM1 million for those located in Zone 3.
Aside from raising the minimum threshold, the land office has also set up new barrier on the type of properties that foreigners, PR holders and foreign companies can buy, noted a developer.
Specifically, foreigners, PRs and foreign companies are permitted to acquire strata and landed strata properties only.
Over at the commercial and industrial sub-segments, foreigners, PRs and foreign companies are only allowed to acquire properties priced from RM3 million in all the three zones.
They are prohibited from acquiring properties set aside for bumiputras. For non-bumiputra units, they can acquire not more than 10 percent of said units.
They are also barred from buying Malay reserve land, agricultural land, non-strata landed residentials and auction properties.
“This means the state of Selangor is going the way of Johor. Land is a state matter. While the Federal Government may propose its policies – unveiled during each budget – the individual states can go along with the measures proposed, or they can propose their own measures,” said a source.
“We saw the state authorities in Johor proposing their own rules with regard to land issues a few months after Budget 2014. We now see Selangor doing the same,” added the source.

Source: http://www.propertyguru.com.my/property-news/2014/9/64622/selangor-unveils-restrictions-on-foreigners-buying

Friday 12 September 2014

Singapore charges toll for vehicles from Oct 1

JOHOR BARU: Singapore will start imposing new toll charges for all vehicles, except motorcycles, leaving the republic through the Causeway beginning Oct 1.

The Singapore new toll charges will be increased to match the new Malaysian toll charges.

A new matching Causeway toll charges will also be implemented for all vehicles (except motorcycles) entering Singapore.

There are no changes to the toll charges at the Second Link.

In a statement today, the Singapore Land Transport Authority (LTA) said the new rates were in tandem with the republic’s long-standing policy of matching toll charges at the Causeway and Second Link to those set by Malaysia.

“In view of Malaysia’s recent revision in toll charges at the Causeway, from 1 October 2014, Singapore’s toll charges for all vehicles (except motorcycles) leaving Singapore through the Causeway will be increased to match the new Malaysian toll charges.

“A new matching Causeway toll charges will also be implemented for all vehicles (except motorcycles) entering Singapore. There are no changes to the toll charges at the Second Link,” the statement read.

For foreign-registered cars, Singapore’s Causeway entry toll (entering Singapore from Johor) will be recorded in the LTA’s toll system and displayed to motorists upon entry into Singapore.

Payment will be deducted only upon leaving Singapore (whether through the Causeway or Second Link), together with the exit toll, Vehicle Entry Permit (VEP) fee and Electronic Road Pricing (ERP) charges (if any).

This will be the same as the existing practice for the Second Link entry toll.

For all other vehicles that do not pay VEP fees, i.e. all Singapore-registered vehicles and foreign-registered goods vehicles, buses and taxis, they will pay their Causeway entry toll upon entry into Singapore and their exit toll upon leaving Singapore.

This will again be the same as the existing practice for the Second Link toll charges.

The LTA statement noted that Singapore will follow suit should Malaysia reduce or do away with the toll charges.

Singapore causeway new toll charges, EDL toll charges,  Singapore toll charges
Singapore new toll charges for Causeway



Source: www.nst.com.my

Tuesday 9 September 2014

The Forcce Be With Legoland

A new attraction awaits Star Wars fans across the Causeway.

The Lego Star Wars Miniland, a model display housed in a 900 sq m building, will open tomorrow at Legoland Malaysia Resort in Johor Baru in conjunction with its second anniversary on Sept 15.

Costing RM6 million (S$2.36 million), it is the sixth such Legoland attraction in the world, after those in Billund in Denmark, Gunzburg in Germany, Windsor in England and California and Florida in the United States.

Canadian Mark Germyn, Legoland Malaysia's general manager, said during Miniland's official media launch on Wednesday that the new permanent display is part of the resort's plans to "grow stronger tourism value" and draw more international visitors.

The display will feature one iconic scene from each of the six Star Wars films, as well as one from The Clone Wars animated series.

The scenes depict planets such as Naboo, Geonosis and Tatooine, and there are highlights such as the epic duel on Mustafar between Jedi master Obi-Wan Kenobi and Anakin Skywalker - who eventually becomes the notorious dark lord Darth Vader - in Episode III: Revenge Of The Sith (2005).

Well-known vessels such as Han Solo's starship, the Millennium Falcon, also make an appearance.

The starship was one of the most challenging models to construct because of its complex design, said Mr Stefan Bentivoglio, Legoland Malaysia's master model builder who leads the team of model builders in Malaysia and oversees the building and maintenance of all models in the park.

The vessel, which is made of 15,000 Lego bricks and weighs 37kg, took builders in Germany 143 hours to design and develop.

Characters such as Luke Skywalker, C-3PO, R2-D2 and Princess Leia can be found in various scenes too, although fans will have to keep their eyes peeled for Darth Vader, who appears only once among the seven displays.

To boost the fun factor, interactive buttons at all the displays will let visitors activate lights, sounds and movement of some of the models.

Life-size models of C-3PO, R2-D2 and a 2.7m-tall Darth Vader wielding a lightsaber will greet visitors at the entrance of the air-conditioned indoor exhibition.

Unlike the other Star Wars Miniland exhibits, the display in Malaysia is the only one housed in a stand-alone building. Another unique aspect is the screening of a five-minute animation film, Lego Star Wars: Bombad Bounty, before visitors tour the display.

Said Mr Bentivoglio: "The film will give visitors an introduction to the Star Wars universe... and educate them on what they are about to see."

The 36-year-old German was involved in constructing the Star Wars displays in the other Legoland resorts as well.

He led a team of about 50 to create 1,122 of the more than 2,000 models at Malaysia's Star Wars Miniland. The rest were shipped from Germany and the Czech Republic, where Lego model factories are located.

The team, which started working on the display last year, took about 8,000 man-hours and used more than 1.5 million bricks in total.

One of the biggest challenges was the need to run every single element by Lucasfilm, the company that produced the six Star Wars films, said Mr Bentivoglio, who joined Legoland Germany in 2003.

"The approval processes took long and, at times, longer than expected. The approval for R2-D2 took up to two weeks," he recalled.

However, he commended Lucasfilm's high standards, which, he said, ultimately ensured that the models looked just as they did in the films.

The Geonosis arena from Episode II: Attack Of The Clones (2002) was a challenge to build.

"I had only one picture of the arena from the film and I had to build it based on just that," he revealed.

The model, which was made of 30,000 bricks, took 290 hours to build.

The largest model within the display is a 2.65m-tall building from Crystal City, the capital of the planet Christophsis from Star Wars: The Clone Wars (2008-2014). It weighs 120kg and is made of 45,000 bricks.

A retail shop selling Lego Star Wars merchandise, including hard-to-find building sets such as the Death Star, is located within the building.

Star Wars fan Prem Raj, 44, looks forward to visiting the attraction soon.

"To see R2-D2 in Lego form will be something new beyond the films. I am a huge Lego fan too, so it will be doubly amazing," said the project manager.


Source: stcommunities.straitstimes.com