The principal developer of Iskandar Malaysia, UEM Sunrise Bhd, has ceased its plan to build Asian Trade Centre project in Nusajaya, Iskandar Malaysia.
Singapore's The Straits Times reported today that no reason was given for the decision to halt plans to build the huge Asian Trade Centre (ATC) in Iskandar Malaysia, Johor.
The newspaper noted that this would likely intensify concerns that the fast-growing region is hitting some "speed bumps".
The move has stunned property experts, especially since UEM Sunrise managing director and chief executive Anwar Syahrin Abdul Ajib was quoted in a New Straits Times report last December as saying the company was "in the midst of getting approvals from the relevant authorities" for the Iskandar project.
A property consultant noted the first phase of the centre's development, the China Mall, was supposed to be a catalyst - a mall "even larger than Pavilion in Kuala Lumpur", and meant to attract foreign investors.
'Further worries in the property market'
"Cancelling it is not good for business. Others may have made plans based on the announcement," the consultant said.
Others in the industry said the decision to drop such a large facility would create further worry in the Iskandar property market, which is already weakened by oversupply concerns in the residential sector.
ATC-China Mall was to be akin to the Dragon Mart in Dubai that Chinamall Holdings opened in 2004.
Anwar Syahrin said last December that UEM Sunrise was building the trade centre because it believed Malaysian products were not being marketed properly.
"We want international and local manufacturers to showcase their products and do trade shows at the ATC. We are tying up with Chinamall Holdings Pte Ltd from China,” he was quoted as saying in the New Straits Times report.
The 1.4 million sq-ft mall, worth more than RM600 million, was supposed to house more than 3,000 merchants offering products such as textiles, gifts, souvenirs, electrical and household appliances, furniture, toys and jewellery.
The ATC is in the Nusajaya area, about a five-minute drive from the Johor Bahru checkpoint at the Second Link with Singapore.
It was to have been part of the 1,840ha Gerbang Nusajaya, the site of the second development phase of Nusajaya city. The area includes Puteri Harbour and the upcoming Nusajaya Tech Park and Motorsports City.
UEM Sunrise had signed a memorandum of understanding with Chinamall Holdings in late 2012 to develop the China Mall.
According to its website, Chinamall Holdings, which is incorporated in Singapore, is a building materials trader and constructs and operates specialised wholesale markets.
The deal was for UEM Sunrise to own the mall, with Chinamall Holdings managing and marketing it on a long-term lease.
Source: http://www.malaysiakini.com/news/299656
Thursday 28 May 2015
Saturday 16 May 2015
RM2.5b Venice-style project in Sungai Danga, Johor Bahru
Sungai Danga, one of the most polluted rivers in the Johor state is poised to undergo a facelift with the first development phase of the River City@Danga project involves the cleaning up, beautification and transformation of Sungai Danga valued at RM2.5 billion.
The project being developed by Riverside Terra Sdn Bhd, a wholly owned subsidiary of Iskandar Waterfront Sdn Bhd, focuses on clean-up and beautification efforts to turn the river into a 'Venice of the East' and make it a renowned riverine tourism destination.
Developed on a 21-ha site, it will transform the area with several attractions, among others, hotels, apartments and office suites that are equipped with open berthing facilities, retail shops and a 6km boardwalk on both banks of the river.
Iskandar Waterfront Holdings Sdn Bhd group executive director Lim Chen Herng said other development being planned was the construction of the two man made islands that have thematic features to reflect the ethnic and cultural diversity found in the state.
"Under the project, the river will be turned into a new tourist destination. It is no ordinary project but one that will become a new landmark," Menteri Besar Datuk Seri Mohamed Khaled Nordin said in the launch and ground breaking ceremony for the project, here yesterday.
"This is the first such island in the country where the Malays, Chinese, Indians and others could display their unique cultural heritage, customs, dances, traditions and art works for the sake of tourism," Mohamed Khaled said.
Meanwhile Mohamed Khaled in his speech said the project would become an important catalyst to the tourism sector in the Iskandar Malaysia Flagship A.
"Directly or indirectly, it offers significant benefits to the economy of Johor due to the diversity of tourism product components besides enabling local communities to raise their living standard," he said.
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development projects within Iskandar Malaysia.
Mentri Besar Datuk Mohamed Khaled Nordin said the state government had identified 2 areas for the international zones designated for foreigners and was finalising the details.
The plans would be publish to the public, either in July or August, and the public and developers would be invited to give their feedback.
“There are 2 areas that we want to present. The first part will be on the growth of the international area and the other related to our policies to control oversupply of service apartments,” he told reporters after launching the groundbreaking ceremony of The River City@Danga project by Riverside Terra Sdn Bhd, a subsidiary of Iskandar Waterfront Sdn Bhd.
“We have nothing to hide, and it will be a win-win situation for both sides,” he said, adding that the international zone would help increase the competitiveness of the Johor property market and protect local buyers.
The project being developed by Riverside Terra Sdn Bhd, a wholly owned subsidiary of Iskandar Waterfront Sdn Bhd, focuses on clean-up and beautification efforts to turn the river into a 'Venice of the East' and make it a renowned riverine tourism destination.
Developed on a 21-ha site, it will transform the area with several attractions, among others, hotels, apartments and office suites that are equipped with open berthing facilities, retail shops and a 6km boardwalk on both banks of the river.
Iskandar Waterfront Holdings Sdn Bhd group executive director Lim Chen Herng said other development being planned was the construction of the two man made islands that have thematic features to reflect the ethnic and cultural diversity found in the state.
"Under the project, the river will be turned into a new tourist destination. It is no ordinary project but one that will become a new landmark," Menteri Besar Datuk Seri Mohamed Khaled Nordin said in the launch and ground breaking ceremony for the project, here yesterday.
"This is the first such island in the country where the Malays, Chinese, Indians and others could display their unique cultural heritage, customs, dances, traditions and art works for the sake of tourism," Mohamed Khaled said.
Meanwhile Mohamed Khaled in his speech said the project would become an important catalyst to the tourism sector in the Iskandar Malaysia Flagship A.
"Directly or indirectly, it offers significant benefits to the economy of Johor due to the diversity of tourism product components besides enabling local communities to raise their living standard," he said.
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development projects within Iskandar Malaysia.
Mentri Besar Datuk Mohamed Khaled Nordin said the state government had identified 2 areas for the international zones designated for foreigners and was finalising the details.
The plans would be publish to the public, either in July or August, and the public and developers would be invited to give their feedback.
“There are 2 areas that we want to present. The first part will be on the growth of the international area and the other related to our policies to control oversupply of service apartments,” he told reporters after launching the groundbreaking ceremony of The River City@Danga project by Riverside Terra Sdn Bhd, a subsidiary of Iskandar Waterfront Sdn Bhd.
“We have nothing to hide, and it will be a win-win situation for both sides,” he said, adding that the international zone would help increase the competitiveness of the Johor property market and protect local buyers.
Tuesday 12 May 2015
Jurong Country Club for KL-Singapore HSR Terminus and expected HSR ticket price
Jurong Country Club (JCC) in Jurong East selected as KL-Singapore HSR Terminus in Singapore
The Singapore Government announced today that the Kuala Lumpur-Singapore High Speed Rail (HSR) terminus will be located at the current site of Jurong Country Club in Jurong East.
The terminus will take up about 12 hectares, or about 20 per cent of the Jurong Country Club site. Jurong Country Club has total land area of 67 hectares.
In a joint statement issued by the Land Transport Authority (LTS) and Singapore Land Authority and Urban Redevelopment Authority, the site will also be comprehensively re-developed for new mixed-use developments including offices, retails, hotels, shops and community facilities to serve Jurong residents, HSR passengers and visitors.
At the 6th Singapore-Malaysia Leaders’ Retreat on May 5, Prime Minister Lee Hsien Loong announced that the HSR terminus in Singapore would be located in Jurong East.
This is in line with the Government’s vision to develop Jurong into a second Central Business District and as a new gateway to Singapore.
The Jurong Country Club site is ideal due to its high connectivity, with close proximity to the existing two MRT lines (East-West and North-South Lines) at Jurong East MRT station, new MRT lines (the Jurong Region Line and Cross Island Line) being planned around the area, as well as the future integrated transport hub in Jurong East.
The terminus will also be located close to Jurong Gateway, which is already shaping up well as a vibrant mixed-use precinct.
Hence, the terminus location is compatible with the surrounding land uses, and well-supported by infrastructure and amenities.
Kuala Lumpur-Singapore High Speed Rail Ticket Price
Users of the Kuala Lumpur-Singapore high-speed rail can expect to pay around S$90 (RM240) each way once the line connecting the Malaysian capital to the republic is complete, according to estimates from transportation experts.
Polled by The Straits Times in Singapore, they suggested that KL-Singapore HSR expected ticket price could be between S$80 and S$90 in each direction, and said it was unlikely that prices will be low enough that the average office worker could expect to afford a daily commute between both destinations.
“I have great difficulty believing that the price of a ticket will be at a rate that regular workers can afford for daily commute,” Nanyang Technological University transport economist Walter Theseira told the Singaporean newspaper.
Theseira cited as example the 345-km Taipei-Kaohsiung high-speed rail line — of comparable distance to the KL-Singapore HSR link — which charges NT$1,630 (RM190) per trip as a likely benchmark for ticket prices.
Another analyst, National University of Singapore transport expert Lee Der Horng also predicted a low capacity for the high speed rail line, expecting it to be able to carry no more than 80 people in its 12-carriage trains.
Industry observers told the ST that the high speed rail link may also use budget plane tickets as a yardstick for its own prices, and is likely to adopt the fluctuating price model used by airlines that change according to low and peak periods.
The rail line is likely to boost tourism between the neighbours — Singapore is already Malaysia’s biggest source of tourist arrivals — as Ngee Ann Polytechnic tourism lecturer Michael Chiam said it will encourage more day trippers.
Malaysia and Singapore agreed to the high speed rail link between the two capitals following a retreat between Malaysian Prime Minister Datuk Seri Najib Razak and his Singaporean counterpart, Lee Hsien Loong, in 2013.
The planned high-speed rail link is expected to cover 300 kilometres between Singapore and Kuala Lumpur, and cut travel time to just 90 minutes.
It was initially expected to be completed by 2020, but both countries have since said that the deadline must be “reassessed”; industry experts expect that it will take another two years from the original date before the line is operational.
Seven stops have been identified in Malaysia, namely Kuala Lumpur, Putrajaya, Seremban, Ayer Keruh, Batu Pahat, Muar and Nusajaya.
The project’s actual cost has not been announced, but reports have placed it as possibly ranging from US$8 billion to US$ 24 billion (RM24 billion to RM72 billion).
Japan has been actively lobbying to be a partner in the Malaysia-Singapore high-speed rail project, but other countries such as China and South Korea are said to have approached Malaysia as well.
The Singapore Government announced today that the Kuala Lumpur-Singapore High Speed Rail (HSR) terminus will be located at the current site of Jurong Country Club in Jurong East.
The terminus will take up about 12 hectares, or about 20 per cent of the Jurong Country Club site. Jurong Country Club has total land area of 67 hectares.
In a joint statement issued by the Land Transport Authority (LTS) and Singapore Land Authority and Urban Redevelopment Authority, the site will also be comprehensively re-developed for new mixed-use developments including offices, retails, hotels, shops and community facilities to serve Jurong residents, HSR passengers and visitors.
At the 6th Singapore-Malaysia Leaders’ Retreat on May 5, Prime Minister Lee Hsien Loong announced that the HSR terminus in Singapore would be located in Jurong East.
This is in line with the Government’s vision to develop Jurong into a second Central Business District and as a new gateway to Singapore.
The Jurong Country Club site is ideal due to its high connectivity, with close proximity to the existing two MRT lines (East-West and North-South Lines) at Jurong East MRT station, new MRT lines (the Jurong Region Line and Cross Island Line) being planned around the area, as well as the future integrated transport hub in Jurong East.
The terminus will also be located close to Jurong Gateway, which is already shaping up well as a vibrant mixed-use precinct.
Hence, the terminus location is compatible with the surrounding land uses, and well-supported by infrastructure and amenities.
Kuala Lumpur-Singapore High Speed Rail Ticket Price
Users of the Kuala Lumpur-Singapore high-speed rail can expect to pay around S$90 (RM240) each way once the line connecting the Malaysian capital to the republic is complete, according to estimates from transportation experts.
Polled by The Straits Times in Singapore, they suggested that KL-Singapore HSR expected ticket price could be between S$80 and S$90 in each direction, and said it was unlikely that prices will be low enough that the average office worker could expect to afford a daily commute between both destinations.
“I have great difficulty believing that the price of a ticket will be at a rate that regular workers can afford for daily commute,” Nanyang Technological University transport economist Walter Theseira told the Singaporean newspaper.
Theseira cited as example the 345-km Taipei-Kaohsiung high-speed rail line — of comparable distance to the KL-Singapore HSR link — which charges NT$1,630 (RM190) per trip as a likely benchmark for ticket prices.
Another analyst, National University of Singapore transport expert Lee Der Horng also predicted a low capacity for the high speed rail line, expecting it to be able to carry no more than 80 people in its 12-carriage trains.
Industry observers told the ST that the high speed rail link may also use budget plane tickets as a yardstick for its own prices, and is likely to adopt the fluctuating price model used by airlines that change according to low and peak periods.
The rail line is likely to boost tourism between the neighbours — Singapore is already Malaysia’s biggest source of tourist arrivals — as Ngee Ann Polytechnic tourism lecturer Michael Chiam said it will encourage more day trippers.
Malaysia and Singapore agreed to the high speed rail link between the two capitals following a retreat between Malaysian Prime Minister Datuk Seri Najib Razak and his Singaporean counterpart, Lee Hsien Loong, in 2013.
The planned high-speed rail link is expected to cover 300 kilometres between Singapore and Kuala Lumpur, and cut travel time to just 90 minutes.
It was initially expected to be completed by 2020, but both countries have since said that the deadline must be “reassessed”; industry experts expect that it will take another two years from the original date before the line is operational.
Seven stops have been identified in Malaysia, namely Kuala Lumpur, Putrajaya, Seremban, Ayer Keruh, Batu Pahat, Muar and Nusajaya.
The project’s actual cost has not been announced, but reports have placed it as possibly ranging from US$8 billion to US$ 24 billion (RM24 billion to RM72 billion).
Japan has been actively lobbying to be a partner in the Malaysia-Singapore high-speed rail project, but other countries such as China and South Korea are said to have approached Malaysia as well.
Tuesday 5 May 2015
Malaysia and Singapore government back success of KL-Singapore high speed rail HSR project
SINGAPORE, May 5 — Singapore prime minister Lee Hsien Loong and his Malaysian counterpart Datuk Seri Najib Razak have reaffirmed that both countries are fully committed to the success of the high speed rail (HSR) project linking the republic and Kuala Lumpur.
In a joint statement released after the Singapore-Malaysian Leaders’ Retreat here, however, both leaders said the project’s initial completion target of 2020 needed to be re-assessed given the scale and complexity of the project.
The HSR is the first of its kind in the region and has received considerable attention, both domestically and internationally, with many countries offering to share their experience and expertise for the project.
Both leaders are encouraged by the support and attention from the global community, and looked forward to further progress on this game-changing iconic project, which will boost connectivity, facilitate travel between Kuala Lumpur and Singapore, whilst enhancing business linkages, and improve people to people ties.
Noting the steady progress on the project, the leaders said that agreements had been reached on the dual co-located Customs, Immigration and Quarantine (CIQ) configuration, the frequency bands to be reserved for HSR operations, as well as locating the depot and stabling facilities in Malaysia.
Meanwhile, Lee announced that the Singapore HSR terminus will be sited at Jurong East, which dovetails with Singapore’s overall plans to transform the area into its second Central Business District.
Touching on Iskandar Malaysia, both leaders reaffirmed the strategic importance of the region for both countries and welcomed the progress made by the Work Groups under the Joint Ministerial Committee for Iskandar Malaysia (JMC).
They took note of the decision by the JMC to conduct a study on Causeway congestion with a view to exploring measures to further enhance connectivity between the two countries.
Both Leaders commended the efforts by the Immigration Work Group of the JMC to reduce congestion at the Causeway and the Singapore-Malaysia Second Link while taking security requirements into account.
Both countries have committed to reducing congestion and have taken steps to achieve this.
The statement said Singapore is automating all motorcycle counters at the Woodlands and Tuas Checkpoints by the end of 2016, compared to about a quarter currently.
Automated counters at the Singapore checkpoint will speed up motorcycle immigration clearance by up to 30 per cent and help reduce congestion for all checkpoint users.
Malaysia is studying the introduction of RFID (Radio Frequency ID) stickers in passports for Malaysian motorcyclists to allow for faster self-clearance at the Causeway.
According to the statement, both sides are also working towards increasing daily laden train services between Johor Baharu and Woodlands Train Checkpoint.
In addition, Singapore is also developing a BioScreen project to capture and tag biometric identifiers of visitors to facilitate immigration clearance at the Singapore checkpoints.
The leaders also welcomed the signing of the Supplemental Agreement to the Agreement for the Construction and Operation of a Ferry Terminal and the Operation of a Ferry Service between Peninsular Malaysia and Singapore.
They stressed the importance of strengthening bilateral economic cooperation, and discussed the opportunities and challenges in business and industrial cooperation, noting the good progress made by the Industrial Cooperation Work Group (ICWG) under the JMC.
They affirmed the benefits to Iskandar Malaysia from cooperation in manufacturing and other industrial activities, and looked forward to the holistic and comprehensive development of Iskandar Malaysia by leveraging on the complementarities between Iskandar Malaysia and Singapore.
The leaders called on the ICWG to continue its efforts to strengthen the Singapore-Malaysia ecosystem through approaching companies with synergistic investment linkages across both countries, particularly in advanced materials engineering, electronics, creative services, and food industries.
The Leaders agreed to work together to realise the full implementation of the ASEAN Economic Community (AEC) measures before the end of the year and to further deepen economic integration beyond 2015. — Bernama
Source: http://www.themalaymailonline.com/malaysia/article/malaysia-singapore-back-success-of-high-speed-rail-project
In a joint statement released after the Singapore-Malaysian Leaders’ Retreat here, however, both leaders said the project’s initial completion target of 2020 needed to be re-assessed given the scale and complexity of the project.
The HSR is the first of its kind in the region and has received considerable attention, both domestically and internationally, with many countries offering to share their experience and expertise for the project.
Both leaders are encouraged by the support and attention from the global community, and looked forward to further progress on this game-changing iconic project, which will boost connectivity, facilitate travel between Kuala Lumpur and Singapore, whilst enhancing business linkages, and improve people to people ties.
Noting the steady progress on the project, the leaders said that agreements had been reached on the dual co-located Customs, Immigration and Quarantine (CIQ) configuration, the frequency bands to be reserved for HSR operations, as well as locating the depot and stabling facilities in Malaysia.
Meanwhile, Lee announced that the Singapore HSR terminus will be sited at Jurong East, which dovetails with Singapore’s overall plans to transform the area into its second Central Business District.
Touching on Iskandar Malaysia, both leaders reaffirmed the strategic importance of the region for both countries and welcomed the progress made by the Work Groups under the Joint Ministerial Committee for Iskandar Malaysia (JMC).
They took note of the decision by the JMC to conduct a study on Causeway congestion with a view to exploring measures to further enhance connectivity between the two countries.
Both Leaders commended the efforts by the Immigration Work Group of the JMC to reduce congestion at the Causeway and the Singapore-Malaysia Second Link while taking security requirements into account.
Both countries have committed to reducing congestion and have taken steps to achieve this.
The statement said Singapore is automating all motorcycle counters at the Woodlands and Tuas Checkpoints by the end of 2016, compared to about a quarter currently.
Automated counters at the Singapore checkpoint will speed up motorcycle immigration clearance by up to 30 per cent and help reduce congestion for all checkpoint users.
Malaysia is studying the introduction of RFID (Radio Frequency ID) stickers in passports for Malaysian motorcyclists to allow for faster self-clearance at the Causeway.
According to the statement, both sides are also working towards increasing daily laden train services between Johor Baharu and Woodlands Train Checkpoint.
In addition, Singapore is also developing a BioScreen project to capture and tag biometric identifiers of visitors to facilitate immigration clearance at the Singapore checkpoints.
The leaders also welcomed the signing of the Supplemental Agreement to the Agreement for the Construction and Operation of a Ferry Terminal and the Operation of a Ferry Service between Peninsular Malaysia and Singapore.
They stressed the importance of strengthening bilateral economic cooperation, and discussed the opportunities and challenges in business and industrial cooperation, noting the good progress made by the Industrial Cooperation Work Group (ICWG) under the JMC.
They affirmed the benefits to Iskandar Malaysia from cooperation in manufacturing and other industrial activities, and looked forward to the holistic and comprehensive development of Iskandar Malaysia by leveraging on the complementarities between Iskandar Malaysia and Singapore.
The leaders called on the ICWG to continue its efforts to strengthen the Singapore-Malaysia ecosystem through approaching companies with synergistic investment linkages across both countries, particularly in advanced materials engineering, electronics, creative services, and food industries.
The Leaders agreed to work together to realise the full implementation of the ASEAN Economic Community (AEC) measures before the end of the year and to further deepen economic integration beyond 2015. — Bernama
Source: http://www.themalaymailonline.com/malaysia/article/malaysia-singapore-back-success-of-high-speed-rail-project
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