RM20 VEP for Singapore cars

JOHOR BARU: Come Aug 1 2015, foreign vehicles entering Malaysia through the Cause­way here and the Second Link Expressway in Tanjung Kupang, Gelang Patah, will have to pay the vehicle entry permit (VEP) fee.

Deputy Transport Minister Datuk Abdul Aziz Kaprawi said the proposed RM20 VEP rate would remain as it was seen to be “appropriate at this point of time”.

He said there were several issues that needed to be fine-tuned before implemen­ting the VEP, hence the postponement from June to August.

“Among the aspects that we have to look into are the installation of the gentries at the entry points in Johor Baru and the procurement process,” Abdul Aziz told reporters after flagging off the Funride and Criterium run.

The event was held in conjunction with the coronation of Sultan Ibrahim Ibni Sultan Iskandar which was held on a grand scale on March 23.

He said the Government also planned to extend the VEP to entry points on the northern states for foreign vehicles entering Malaysia from Thailand.

“This will be implemented for next year,” Abdul Aziz said.

“Foreign vehicles entering Johor Baru have to pay the VEP daily.

“There won’t be any exemption like what is being done in Singapore (no fee is collected on weekends and public holidays).”

On Aug 1, 2014, Singapore increased the VEP fee for foreign vehicles entering the republic from RM51 (S$20) to RM90 (S$35) daily.

The republic had also raised the Goods Vehicle Permit from RM26 (S$10) to RM103 (S$40).

VEP fee for Singapore cars entering Malaysia

Source: www.thestar.com.my/News/Nation/2015/04/05/RM20-VEP-for-Singapore-cars/

Iskandar Malaysia Secures RM26.77 Billion New Investments In Year 2014

JOHOR BAHARU, March 10 – Iskandar Malaysia secured RM26.77 billion in new investments last year, bringing the total cumulative committed investments amount to RM158.3 billion since 2006. It gained 1.8 billion of new investments on 4th quarter of 2014.

In 2013, the Iskandar Malaysia new investments were RM25.05 billion.

Iskandar Regional Development Authority chief executive, Datuk Ismail Ibrahim, said of the total of cumulative committed investments, RM77.07 billion or 49 per cent, represented investments that had been realised.

He said the figure showed that Iskandar Malaysia continued to do well despite the challenges facing the global economy.

“It also shows the confidence in Iskandar Malaysia, especially among local investors, with domestic investments making up RM101.14 billion, or 64 per cent, of the total cumulative committed investments to date,” Ismail said in a statement here Tuesday.

From the total cumulative committed investments, 36 per cent or RM56.99 billion was came from foreign investors.

From January until September last year, top foreign investors were Singapore, US, Spain, Japan and China.

With such huge investments, Ismail said, they would bring ample business opportunities for entrepreneurs and small and medium enterprises SME as well as creating more jobs opportunities in Iskandar Malaysia.

In 2014 alone, a total of 651,536 jobs have been created in Johor from various sectors in Iskandar Malaysia including manufacturing, hospitality, food and beverage, and education, he said.

Ismail said with the launch of the enhanced Iskandar Malaysia Comprehensive Development Plan (CDPii) by the second quarter of this year, investors and stakeholders may also get an insight into the outlook and opportunities in Iskandar Malaysia as it moved into its third phase towards maturity in 2025.

“The CDPii encompasses several aspects related to the environment, economy and social development strategies for Iskandar Malaysia, an inclusive plan that would benefit the communities in Iskandar region,” he said.

Source: www.star.com

China-based Greenland enters into RM2.4b land transaction with Malaysia's IWCB

PETALING JAYA: At a time when there is an increased level of cautiousness in the Johor property scene, a Chinese developer has inked an RM2.4bil deal with Iskandar Waterfront City Bhd (IWCB) to acquire 128 acres of land, a value that underscores one of the highest land transactions in the Iskandar region to-date.

A subsidiary of Shanghai-based state developer Greenland Holdings Group Ltd has established a joint venture (JV) with IWCB unit Southern Crest Development Sdn Bhd (SCD) to buy the land, which is mostly submerged, from IWCB for a sum of RM2.4bil.

The RM2.4bil deal works out to about RM430 per sq ft, which property consultants said set the benchmark for property prices in that area as there had not been any transaction of that size in that area previously. Most previous transactions were at Danga Bay, which is at the Causeway and near the Second Link.

The agreement is to acquire property and undertake the development and construction of a mixed development comprising commercial and residential components in Plentong, Johor Baru, via a special-purpose vehicle, Greenland Tebrau Sdn Bhd (GTSB).

Together, Greenland and Johor state government-linked company IWCB will develop an RM3bil new waterfront city on the land in Tebrau Bay.

The transaction comes amidst an environment where there are concerns of an oversupply of high-end condominiums in Johor. This has been evidenced by a lacklustre response from buyers for property launches in the Puteri Harbour area in the Iskandar Development region.

Iskandar Development is the authority overseeing the development of an area measuring 200,000ha in South Johor.

There are several companies undertaking the development, with UEM Sunrise Bhd being a key player. However, the recent poor take-up rate for the high-end condominium market was seen in a project at Tanjung Puteri Cove.

Apart from a vast hinterland waiting to be developed, more land is being reclaimed on the Straits of Johor near the Second Link, adding more supply of land for development.

This is particularly from the approval given to a JV between Country Garden Holdings Ltd and Kumpulan Prasarana Rakyat Johor (KPRJ) to reclaim and develop 1,368ha of land on the Straits of Johor to develop what is termed as the Forest City project that will be carried out on four man-made islands over a 30-year period.

In IWCB’s filing yesterday, it said its unit SCD would hold a 20% equity interest in GTSB, while Greenland Malaysia Real Estate Operator Sdn Bhd (GL) would hold the remaining 80%.

GL is a wholly owned subsidiary of Greenland Hong Kong Investment Group Ltd, which, in turn, is a 60%-owned subsidiary of the Greenland group.

KGV International Property Consultant executive director Samuel Tan said while more details were needed to determine if the deal was fair, it sent a strong signal to the investment market that Iskandar Malaysia was still a destination for property development in the long run.

“Development by foreign players is not confined to the usual Danga Bay, Medini Iskandar Malaysia and Nusajaya. This is good, as it will result in a more balanced geographical growth within Iskandar Malaysia,” he added.

It is learnt that IWCB chose the Greenland group, which is one of China’s biggest developers, because of its experience in building a city over a long term.

Already, some 13 local and foreign companies are actively involved in developing Iskandar Waterfront City in Danga Bay with a cumulative gross development value of RM125bil on the western corridor, which stretches from Johor Baru to Nusajaya.

“I now want to develop the Eastern Corridor of Johor Baru, stretching from Tebrau Bay to Pasir Gudang,” said Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin in a statement.

Khaled envisions the Eastern Corridor to be South-East Asia’s new lifestyle destination, much like Australia’s Gold Coast.

The urban development of Tebrau Waterfront City will span a 15-year period and will feature a snow world theme park, an opera house, a hospital specialising in Chinese traditional medicine and a school.

“I welcome their long-term strategic interest to jointly transform Johor Baru into a modern international waterfront city and destination,” Khaled said.

IWCB is a listed entity which is 47%-owned by Johor-based Iskandar Waterfront Holdings Sdn Bhd (IWH). The Johor Government, via state investment arm KPRJ, has 40%.

The JV would enable IWH to leverage on its Chinese partner’s strength in mixed commercial development, including high-end hotels and residential towers, to reshape its waterfront land in Danga Bay and Tebrau Bay.

“We’ve undertaken urban development in over 80 cities throughout China. We’re keen to share the experience with IWH as our long-term JV partner and help transform Iskandar Malaysia into an international destination,” said Greenland group executive vice-chairman Xu Jing.

This is Greenland’s second investment in Iskandar Malaysia.

In April 2014, Greenland signed an agreement with IWH to jointly develop 13.6 acres in Danga Bay for RM600mil, comprising an RM2.2bil integrated mixed-property project, which includes the recently launched Jade Palace luxury condominiums.


Source: http://www.thestar.com.my/

Malaysia will charge RM20 VEP fee for foreign registered vehicles from Singapore

Malaysia will implement the charge of RM20 (S$7.60) in vehicle entry permits (VEP) for foreign-registered vehicles coming in from Singapore from around the middle of next year.

Deputy Transport Minister Abdul Aziz Kaprawi said the imposition of the fee was approved by Prime Minister Najib Razak in July and was planned to take place in January.However, the VEP’s implementation has been postponed due to the needs for detailed preparations to be done, especially the installation of special devices at the two entry-points in the state.

“The Transport Ministry is working out details of the VEP’s implementation at the two entry-points in Johor, which is the Causeway and the Second Link, before it is enforced,” said Abdul Aziz Kaprawi.

A round trip to Malaysia using the Causeway now costs about $13.10 – more than five times the cost before changes of toll charge by the Singapore and Johor government on Oct 1. The cost of a similar trip using the Second Link in Tuas remains unchanged at $12.40.

Singapore charges $35 VEP a day for four-wheel vehicles, up from $20 before Aug 1.

Current Johor implementation of foreigner VEP is response to Singapore revision of VEP from Malaysia into Singapore which is take effect August 1, 2014.

Malaysia also plans to charge VEP fee for foreign registered vehicles enter from Thailand and Brunei. The VEP rates at entry points from Thailand and Brunei will be announced once Johor’s system is up and running smoothly, he added.

Singapore’s Ministry of Transport is studying Malaysia’s move to impose a Vehicle Entry Permit (VEP) fee of RM20 (S$7.55) for foreign vehicles from the middle of next year and will respond “in due course”, reported Channel NewsAsia.

Johor gets RM150 million for roads

NUSAJAYA: The Johor government has allocated RM150 million to upgrade and widen village roads through Infra Desa Johor (IDJ) from February 2012 to January next year, said state Public Works and Rural and Regional Development Committee chairman Hasni Mohammad.

“IDJ did not widen or upgrade any road from 2010 to 2011 because its existing scope of work was only to carry out road maintenance,” he said in reply to a question from Aminolhuda Hassan (Pas-Parit Yaani) at the Second Meeting (Budget 2015) of the Second Term of the 13th Johor State Assembly, here, today.

He said since September, the progress of work done was worth RM143 million, which was 95 per cent of the allocation spent involving 1,100 km of road.

“It is expected that IDJ will be able to complete repairs and upgrades on 1,121 km of road until January 2015.

“From the 1,121 km, widening will be done on 514.11 km which is 46 per cent of the total road being upgraded,” he said.

To a question from Mohammad Taslim (PAS-Maharani), he said roads which were tarred in Maharani using funds from Marris (Malaysian Road Records Information System) in 2012 involved 11 roads, 12 roads in 2013 and nine roads in 2014.

“Jalan Kampung Parit Samsu is included in the list of works done in 2012 and 2013. Jalan Kampung Parit Samsu has been repaired several times through the allocation from Marris.

“According to records since 2012, this road has been repaired twice but the same problem recurs. Based on our visual site investigation, the road edge’s weak structure is the main cause of the damage,” he added.

Source: www.freemalaysiatoday.com/

INDIA’S Biocon invests US$ 200 million to make insulin in Johor

INDIA’S biggest biopharmaceutical company Biocon Ltd, which is investing US$200 million (RM668 million) to make insulin in Johor, is joining hands with Chemical Company of Malaysia Bhd (CCM) to sell Insugen in Malaysia early next year.

The state-of-the-art integrated manufacturing facility in Johor is set to boost Bangalore-based Biocon’s production capacity and make it the world’s third largest insulin supplier.

“We started construction on the Malaysian project in mid-2012 and are in the final stages of wrapping up Phase 1 of the project. We have already pumped in US$160 million into the venture,” said Biocon president of marketing, Ravi Limaye.

“Once Phase 1 is operational in the next few months and depending on matching capacity requirements, which are subject to regulatory approvals, we will invest an additional US$40 million in developing Phase 2,” Ravi added.

Health Ministry statistics show that around three million Malaysian adults suffer from diabetes.

“The partnership with Biocon is expected to bring value to Malaysia’s RM70 million insulin market,” said CCM acting chief executive officer Leonard Ariff Abdul Shatar.

Minister in the Prime Minister’s Department Datuk Seri Idris Jala, who officiated at the launch of Biocon’s Insugen and Insupen products, here, yesterday, said Malaysia was heavily reliant on imported generic and patented drugs.

Expensive drugs tend to be out of reach for the lower-income households.

Idris lauded Biocon and CCM’s tie-up in supplying generic drugs in the form of biosimilar insulin, saying they were priced affordably and just as effective as patented ones.

Leonard noted that the collaboration with Biocon was accelerating the group’s foray into biosimilars.

In established markets such as the United States and Europe, Novo Nordisk, Sanofi and Eli Lilly enjoy exclusive marketing rights for their insulin products due to strictly enforced intellectual property laws.

As soon as the patents expire, it opens the doors for biosimilar insulins, which are second- generation “copies” of the original insulin products.

Leonard said biosimilars were developed using the same genetic contents and were designed to have the same mechanism of action as the original in terms of safety and efficacy, but priced more affordably.

Source: http://www.malaysia-chronicle.com/

Johor upbeat of achieving investments worth RM20bil this year

PASIR GUDANG: The Johor government is upbeat about achieving an investment figure of more than RM20 billion this year, compared to RM14.4 billion in 2013.

State Tourism, Domestic Trade and Consumerism Committee chairman Datuk Tee Siew Kiong said the optimism is based on the steady increase of foreign investment to the state.

He said the state received investment totalling RM18.7 billion in the first seventh months of the year.

Tee revealed that there is a foreign multinational company that is showing keen interest in investing in Johor.

"Talks with the international company is now in its final phase, and the state government is confident the investment worth about RM6 billion will soon pour into the Sedenak Industrial Park in Kulai.

"Based on the new development, the state government is confident the total investment this year will reach more than RM20 billion, and this will propel Johor as the highest investment state in the country.

"We found that the manufacturing sector is a strong contributor to the economic development of Johor, contributing nearly 35 per cent to the Gross Domestic Product of the state," he said after opening the Langsat Bitumen Terminal in Tanjung Langsat here today.


Source: http://www.nst.com.my/node/50197