Two more JVs from YTL and Naza to oversee KL-Singapore HSR

Two more joint ventures (JVs) involving YTL Group and Naza Group have joined the fray to bid for the job of project delivery partner (PDP) to run the civil works portion of the Kuala Lumpur-Singapore high-speed rail (HSR) project.

The Star reported that according to sources, the YTL group has teamed up with the SIPP group to bid for the job of PDP, while another JV is between Naza Group and China Communications Construction Co Ltd (CCCC).

Concurrently, there are two JV companies comprising established names in the construction industry that are already bidding for the PDP job of the HSR.

The current JVs are Gamuda Bhd-Malaysian Resources Corp Bhd (MRCB) and a four-party consortium comprising IJM Corp Bhd-Sunway Construction Group Bhd (SunCon)-Jalinan Rejang Sdn Bhd-Maltimur Resources Sdn Bhd.

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Malaysian market is expected to remain volatile in 2018

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Investment analysts and equity strategists do not think Bursa Malaysia is in calmer waters now on the back of when the local stock market regained some lost ground recently after the two-day fall.

According to Maybank Kim Eng head of research and global investment strategist Sadiq Currimbhoy, volatility could be the norm this year.

The Edge reported that Currimbhoy expects the bond yield is going to climb further due to concerns about inflation particularly in the US.

“I think that is going to create market volatility for equities… at least for the first part of the year,” he told the press on the sidelines of the Fifth World Capital Markets Symposium 2018 on Feb 7.
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Genting gives ex-Jewish leisure escapade Borscht Belt hotel in upstate New York high-end gambling makeover

empire resorts genting catskills casinoEmpire Resorts Inc., controlled by Lim Kok Thay, chairman of Genting Bhd. is gambling big: He is opening the Resorts World Catskills, a $1.2 billion casino, hotel and entertainment complex at the site of the old tourist destination for tens of thousands of New Yorkers, primarily Jews.

From the 1920s to the late 1960s, the New Yorkers seeking an from the clatter and chaos of city life would find solace in the area popularly known as the “Borscht Belt,” for the sunbathing, swimming, dining, dancing and more.

But by the 1970s, the vacationers who had packed the bungalows and hotels abandoned the Borscht Belt. The place fell in ruins.

But on Feb 8, the Catskill Mountains will get its own gambling den.

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HSR bidding down to two-horse race: where are the others?

 

hsr kuala lumpur

China and Japan are the only two countries left in the race to win the bidding for the massive high-speed rail transportation project that will link Kuala Lumpur to Singapore, said the klhighspeedrail.com portal.

However, the question we may ask is whether the other competitors seem to have simply accepted the fact that they are out of the race?

While most sources are pointing to Japan as the leading party in the bidding.

The Today Online portal in Singapore said Japan Rail, Japan Bank for International Cooperation and NEC Japan are the companies that are leading the bidding from Japan.

It also said it had been previously reported that Hong Kong’s MTR Corporation was also interested in partnering with China Railway Corporation to bid for a contract.

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Yellen stops short of saying markets are in a bubble

janet yellen

Outgoing Federal Reserve Chair Janet Yellen said U.S. stocks and commercial real estate charges are on the high side but stopped short of saying the markets are in a bubble.

“Well, I don’t want to say too high. But I do want to say high,” Yellen said on CBS’s “Sunday Morning” in an interview recorded Friday as she prepared to leave the central bank. “Price-earnings ratios are near the high end of their historical ranges.”

Commercial real estate prices are now “quite high relative to rents,” Yellen said. “Now, is that a bubble or is it too high? And there it’s very hard to tell. But it is a source of some concern that asset valuations are so high.”

Yellen, 71, stepped down as Fed leader on Saturday after one term after President Donald Trump opted to replace her with Republican Jerome Powell, who’s been a Fed governor since 2012.

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Azira, the latest residential product from Sime Darby Prop to fulfill the key needs

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The latest residential product from Sime Darby Property launched in Bandar Bukit Raja (BBR), Klang – Azira has received positive response from the public with over 70 per cent take-up rate recorded in just one weekend.
The Star reported that the residential comprises 111 units of 20’ x 75’ double-storey link homes with built-up areas ranging from 1,901sq ft to 2,275sq ft. It comes with four bedrooms and four bathrooms.
A continuation and evolution of the earlier BBR homes, Azira boasts a contemporary modern tropical design that includes large openings with wide picture windows that help improve ventilation.
Offering freehold ownership, Azira’s prices start from RM678,888 (before bumiputera discount), which completion is expected on January 2020.
Sime Darby Property chief operating officer Datuk Wan Hashimi Albakri said, “The encouraging take-up rate for Azira is achieved by staying true to our strategy of offering the right products at the right time, location and price, to fulfil the needs of homebuyers.

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Setia Alam starter homes sold out on the first day of its launch

setia alam
All allocated units of Careya terraced houses which is the first of S P Setia Bhd’s Starter Homes series in its 2,525-acre Setia Alam township were sold out on the day it was launched, said the developer in a statement on Feb 1.
According to The Edge Property, buyers had queued up at the launch venue as early as the night before the project was unveiled on Wednesday (Jan 31), it added.
“With only two parcels allocated for the Starter Homes series in Setia Alam, these limited editions homes were well received as expected,” said S P Setia.
Careya comprises 93 units of 20ft by 65ft 2-storey terraced homes with built-ups from 1,677 sq ft that are designed to maximise usable space.
Every home comes with an eight-foot backyard prepped for future renovation and extension works as foundation and slabs have been laid; in the interim, it serves as a drying area.

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Naza TTDI sees opportunities for year ahead

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Naza TTDI Sdn Bhd, the property arm of Naza Group, achieved sales of RM815 million last year, which marked its best performance ever in five years.

The Edge reported that this year, it is targeting lower sales of RM745 million amid overall weak consumer sentiments.

“We will focus on sales from the Met 1 component located in KL Metropolis; an en-bloc office tower; TTDI Sentralis, a mixed-use development located in Shah Alam and from the soon to be launched TTDI Ayana residential development at Kwasa Damansara,” said its executive director and chief operating officer Datuk Idzham Mohd Hashim in a statement on Feb 2.

Nevertheless, Naza TTDI is upbeat for the future as it has RM1 billion worth of unbilled sales that will help it stay ahead.

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Auto stocks to benefit from strong Ringgit

nissan jukebox

Automotive stocks will remain bullish if the ringgit recovery against US dollar maintained   its momentum, The Star reported.

These stocks could add on to picks up if buyers feel better about the economy and thus increase spending on first-class things.

Recently, Grant Thornton’s quarterly business survey reported that business leaders in Malaysia saw their confidence rising by 6 per cent in the fourth-quarter of 2017 which is a positive recovery from  36 per cent a year ago.

The survey revealed that 58 per cent of business owners are anticipating an increase in profits which is up to 46 percentage points from the third-quarter of last year.

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Higher iPhone prices, plan to return cash to shareholders support Apple share price

iphone x

NEW YORK, — Stronger iPhone prices and hints by Apple Inc yesterday that it could return more than half of its US$285 billion (RM1.11 trillion) in cash to shareholders eased concerns among investors, even as the world’s biggest technology company gave a disappointing revenue outlook for the current quarter.

Apple also reported it sold fewer iPhones over the holiday quarter than Wall Street had expected.

But the revenue outlook for the first three months of 2018 “was not as bad as some feared,” said Jun Zhang of Rosenblatt Securities Inc. Apple’s comments about plans for its US$163 billion in net cash helped boost shares 3.3 per cent to US$173.48 in after-the-bell trading.

“Over time, we are trying to target a capital structure that is approximately net neutral. We will have approximately the same level of cash and debt on the balance sheet,” Apple’s chief financial officer, Luca Maestri, told Reuters in an interview.

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