KUALA LUMPUR, 7 November 2024 – ASCARO has unveiled a new partnership with Padel Galis, the Spanish padel court manufacturer, securing its position as the manufacturer’s exclusive distributor in Malaysia.

After opening its doors just over a year ago at the rooftop of 1Utama New Wing, the ASCARO Padel &amp; Social Club has set the standard for the city’s padel courts. Their dedication to outfitting their facilities with the finest grade materials available showcases the differences in quality and returns on investment.

“At ASCARO, we not only distribute padel courts but also manage our own clubs and we are certain that Padel Galis courts are a durable investment over time,” said Daniel Liljekvist, Managing Director and Partner at ASCARO.

Price versus Quality: You Get What You Pay For

As the sport has gained traction and popularity in the region, so has the growing demand for high-quality facilities in the region. One of ASCARO’s goals is to champion padel as an elite sport while still staying true to its roots. Originating in Acapulco, Mexico in 1969, padel was then introduced to Spain by Prince Alfonso of Hohenlohe-Langenburg, who built two courts at his Marbella Club Hotel.

The sport has made its global presence felt, and Southeast Asia is no exception. The tropical region is exposed to weather that can wear down a court, such as high humidity, heavy rains and strong winds.

Salva Segura, chief growth officer of Padel Galis explains: “The quality of the courts in a region like Southeast Asia is non-negotiable. Extreme weather conditions test the materials, and if they aren’t of high-quality, maintenance and repair costs rise significantly.”

Liljekvist adds: “We’ve seen how the appeal of low-priced products can be tempting in the short-term, but in areas with high humidity and frequent rain, investing in quality is essential.”

Popular demand would lead to healthy competition, and the Malaysian padel market is no exception. Numerous low-cost alternatives are entering the market and often falling short in terms of quality. Cheaper courts tend to experience ‘wear-and-tear’ issues such as oxidation, cracking and breakage, especially under adverse weather conditions.

Investing in high-quality materials, specifically by Padel Galis, would result in long-term savings by reducing repair and replacement costs.

Padel Galis’ contribution to the development of padel in Malaysia will offer local clubs and players padel facilities that will meet the highest international standards.

“That’s why we are thrilled to work with ASCARO, a company that shares our vision in providing durable, top-tier solutions for our clients,” adds Segura.”

The Swedish padel brand has teamed up with the Spanish padel court manufacturer to strengthen the sports’ presence in Southeast Asia. <img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/06c69366-cade-4fce-9b4e-0783e4cf0300/public" alt="Image" />KUALA LUMPUR, 7 November 2024 – ASCARO has unveiled a new partnership with Padel Galis, the Spanish padel court manufacturer, securing its position as the manufacturer’s exclusive distributor in Malaysia. After opening its doors just over a year ago at the rooftop of 1Utama New Wing, the ASCARO Padel &amp; Social Club has set the standard for the city’s padel courts. Their dedication to outfitting their facilities with the finest grade materials available showcases the differences in quality and returns on investment.“At ASCARO, we not only distribute padel courts but also manage our own clubs and we are certain that Padel Galis courts are a durable investment over time,” said Daniel Liljekvist, Managing Director and Partner at ASCARO.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/aa2e3ad1-2414-4732-3d22-3e38392cac00/public" alt="Image" /><h2>Price versus Quality: You Get What You Pay For</h2>As the sport has gained traction and popularity in the region, so has the growing demand for high-quality facilities in the region. One of ASCARO’s goals is to champion padel as an elite sport while still staying true to its roots. Originating in Acapulco, Mexico in 1969, padel was then introduced to Spain by Prince Alfonso of Hohenlohe-Langenburg, who built two courts at his Marbella Club Hotel.The sport has made its global presence felt, and Southeast Asia is no exception. The tropical region is exposed to weather that can wear down a court, such as high humidity, heavy rains and strong winds.Salva Segura, chief growth officer of Padel Galis explains: “The quality of the courts in a region like Southeast Asia is non-negotiable. Extreme weather conditions test the materials, and if they aren’t of high-quality, maintenance and repair costs rise significantly.”Liljekvist adds: “We’ve seen how the appeal of low-priced products can be tempting in the short-term, but in areas with high humidity and frequent rain, investing in quality is essential.”Popular demand would lead to healthy competition, and the Malaysian padel market is no exception. Numerous low-cost alternatives are entering the market and often falling short in terms of quality. Cheaper courts tend to experience ‘wear-and-tear’ issues such as oxidation, cracking and breakage, especially under adverse weather conditions.Investing in high-quality materials, specifically by Padel Galis, would result in long-term savings by reducing repair and replacement costs.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/2759b8cd-304c-4c57-6b32-fb41f6aab400/public" alt="Image" /><h2>A Promising Future of Padel in Malaysia</h2>Padel Galis’ contribution to the development of padel in Malaysia will offer local clubs and players padel facilities that will meet the highest international standards.“That’s why we are thrilled to work with ASCARO, a company that shares our vision in providing durable, top-tier solutions for our clients,” adds Segura.”<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/b4b1cf9f-3de1-4d24-bfd7-dc9b147aa600/public" alt="Image" />

Fitness / Healthcare

Real Estate / Architecture / Construction

Sports

The Swedish padel brand has teamed up with the Spanish padel court manufacturer to strengthen the sports’ presence in Southeast Asia.

ASCARO Elevates Padel in Malaysia as the Exclusive  Distributor of Padel Galis

UEM Edgenta Berhad (UEM Edgenta), a leading Asset Management and Infrastructure Solutions company in the region, today announced its unaudited financial results for the first half of 2024, ending 30 June 2024 (1H FY2024).

UEM Edgenta reported a revenue of RM1.44 billion for 1H FY2024, marking a 6.4% increase compared to the RM1.35 billion recorded in the same period last year. The net profit for the second quarter of 2024 (Q2 FY2024) also saw an uptick, rising by 2.1% to RM12.8 million from RM12.5 million in Q2 FY2023. These results underscore UEM Edgenta’s commitment to delivering consistent financial performance amidst a dynamic global economic landscape.

A total of RM2.0 billion in new contracts were secured in 1H FY2024, matching the total new wins in FY2023. More than 90% of these wins came from its international business in Singapore, Taiwan, and the Middle East. In Singapore, continued execution excellence has driven strong and healthy order book replenishment of RM1.2 billion in healthcare support services and integrated facility management contracts with clients beyond the healthcare sector. The operations in the Kingdom of Saudi Arabia successfully secured their first hospital contract, further expanding their footprint in the region. Domestically, the Asset Consultancy division is making significant strides with more than RM67.7 million in new wins, the majority of which are Energy Efficiency (EE) projects, reaffirming its RM200 million zero-capex commitment made in September 2023. UEM Edgenta is bolstered by a solid order book of approximately RM10 billion as of 30 June 2024, providing long-term earnings visibility and positioning the company to navigate potential challenges while maintaining financial stability.

UEM Edgenta’s optimism is strengthened by the significant progress made in realising our targeted cost savings, initially set at RM100 million over five years under EoTF2025, which we are on track to achieve by the end of 2024—a year ahead of schedule. These savings have been driven by operational excellence, optimized procurement, and a leaner business structure. Building on this momentum, the Company is targeting an additional RM150 million in savings over the next five years, focusing on key cost optimisation areas, including spend prioritisation, simplifying the organisation and corporate structure, supply chain management, contract renegotiation, and streamlining operations through automation and technology. The Company is on track to achieve its Phase 1 target of a 10% improvement in addressable costs by the end of the 2024 financial year.

In Asset Management Services, the company is focused on maintaining its market leadership by advancing Smart and Green Facilities Management, emphasizing cutting-edge technology for efficient and sustainable asset management. Additionally, our strategic acquisition of the Kaizen Group in the UAE, completed in 1H FY2024, further strengthens our market position and drives financial growth through a cohesive integration with our existing operations in the Middle East, which is certain to unlock new business opportunities in the region.

With a robust order book extending beyond 2030, the Infrastructure Services Division enjoys strong earnings visibility. Concurrently, it is broadening its capabilities beyond road maintenance to include areas such as solar photovoltaic system maintenance and expanding its presence in Indonesia’s infrastructure services market. Additionally, the Recycled Asphalt Pavement (RAP) premix plant in Perak is now fully completed and operational, positioning the business within the pavement products value chain.

Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta, said, “We are committed to optimizing our resources and refining our operational model to enhance efficiency across all levels. Our strong and steadily replenishing order book not only provides clear visibility into long-term earnings and financial stability but also underscores our resilience in navigating market fluctuations.”

“As we advance with our Edgenta of The Future 2025 (EoTF2025) strategies, we are confident that our resilience and focus on both business preservation and growth will empower us to overcome challenges and deliver outstanding performance throughout the year. Our ability to adapt and persevere positions us strongly to meet future demands and achieve sustained success,” he added.

Looking ahead, UEM Edgenta remains committed to exploring new possibilities and advancing industry standards. By steadily integrating innovation and prioritizing sustainable growth, the company continues to create value for its stakeholders while striving to deliver practical and forward-thinking solutions.

For further information on UEM Edgenta, visit https://www.uemedgenta.com.

UEM Edgenta Berhad (UEM Edgenta), a leading Asset Management and Infrastructure Solutions company in the region, today announced its unaudited financial results for the first half of 2024, ending 30 June 2024 (1H FY2024).UEM Edgenta reported a revenue of RM1.44 billion for 1H FY2024, marking a 6.4% increase compared to the RM1.35 billion recorded in the same period last year. The net profit for the second quarter of 2024 (Q2 FY2024) also saw an uptick, rising by 2.1% to RM12.8 million from RM12.5 million in Q2 FY2023. These results underscore UEM Edgenta’s commitment to delivering consistent financial performance amidst a dynamic global economic landscape.A total of RM2.0 billion in new contracts were secured in 1H FY2024, matching the total new wins in FY2023. More than 90% of these wins came from its international business in Singapore, Taiwan, and the Middle East. In Singapore, continued execution excellence has driven strong and healthy order book replenishment of RM1.2 billion in healthcare support services and integrated facility management contracts with clients beyond the healthcare sector. The operations in the Kingdom of Saudi Arabia successfully secured their first hospital contract, further expanding their footprint in the region. Domestically, the Asset Consultancy division is making significant strides with more than RM67.7 million in new wins, the majority of which are Energy Efficiency (EE) projects, reaffirming its RM200 million zero-capex commitment made in September 2023. UEM Edgenta is bolstered by a solid order book of approximately RM10 billion as of 30 June 2024, providing long-term earnings visibility and positioning the company to navigate potential challenges while maintaining financial stability.UEM Edgenta’s optimism is strengthened by the significant progress made in realising our targeted cost savings, initially set at RM100 million over five years under EoTF2025, which we are on track to achieve by the end of 2024—a year ahead of schedule. These savings have been driven by operational excellence, optimized procurement, and a leaner business structure. Building on this momentum, the Company is targeting an additional RM150 million in savings over the next five years, focusing on key cost optimisation areas, including spend prioritisation, simplifying the organisation and corporate structure, supply chain management, contract renegotiation, and streamlining operations through automation and technology. The Company is on track to achieve its Phase 1 target of a 10% improvement in addressable costs by the end of the 2024 financial year.UEM Edgenta Berhad (UEM Edgenta), a leading Asset Management and Infrastructure Solutions company in the region, today announced its unaudited financial results for the first half of 2024, ending 30 June 2024 (1H FY2024).UEM Edgenta reported a revenue of RM1.44 billion for 1H FY2024, marking a 6.4% increase compared to the RM1.35 billion recorded in the same period last year. The net profit for the second quarter of 2024 (Q2 FY2024) also saw an uptick, rising by 2.1% to RM12.8 million from RM12.5 million in Q2 FY2023. These results underscore UEM Edgenta’s commitment to delivering consistent financial performance amidst a dynamic global economic landscape.A total of RM2.0 billion in new contracts were secured in 1H FY2024, matching the total new wins in FY2023. More than 90% of these wins came from its international business in Singapore, Taiwan, and the Middle East. In Singapore, continued execution excellence has driven strong and healthy order book replenishment of RM1.2 billion in healthcare support services and integrated facility management contracts with clients beyond the healthcare sector. The operations in the Kingdom of Saudi Arabia successfully secured their first hospital contract, further expanding their footprint in the region. Domestically, the Asset Consultancy division is making significant strides with more than RM67.7 million in new wins, the majority of which are Energy Efficiency (EE) projects, reaffirming its RM200 million zero-capex commitment made in September 2023. UEM Edgenta is bolstered by a solid order book of approximately RM10 billion as of 30 June 2024, providing long-term earnings visibility and positioning the company to navigate potential challenges while maintaining financial stability.UEM Edgenta’s optimism is strengthened by the significant progress made in realising our targeted cost savings, initially set at RM100 million over five years under EoTF2025, which we are on track to achieve by the end of 2024—a year ahead of schedule. These savings have been driven by operational excellence, optimized procurement, and a leaner business structure. Building on this momentum, the Company is targeting an additional RM150 million in savings over the next five years, focusing on key cost optimisation areas, including spend prioritisation, simplifying the organisation and corporate structure, supply chain management, contract renegotiation, and streamlining operations through automation and technology. The Company is on track to achieve its Phase 1 target of a 10% improvement in addressable costs by the end of the 2024 financial year.In Asset Management Services, the company is focused on maintaining its market leadership by advancing Smart and Green Facilities Management, emphasizing cutting-edge technology for efficient and sustainable asset management. Additionally, our strategic acquisition of the Kaizen Group in the UAE, completed in 1H FY2024, further strengthens our market position and drives financial growth through a cohesive integration with our existing operations in the Middle East, which is certain to unlock new business opportunities in the region.With a robust order book extending beyond 2030, the Infrastructure Services Division enjoys strong earnings visibility. Concurrently, it is broadening its capabilities beyond road maintenance to include areas such as solar photovoltaic system maintenance and expanding its presence in Indonesia’s infrastructure services market. Additionally, the Recycled Asphalt Pavement (RAP) premix plant in Perak is now fully completed and operational, positioning the business within the pavement products value chain.Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta, said, “We are committed to optimizing our resources and refining our operational model to enhance efficiency across all levels. Our strong and steadily replenishing order book not only provides clear visibility into long-term earnings and financial stability but also underscores our resilience in navigating market fluctuations.”“As we advance with our Edgenta of The Future 2025 (EoTF2025) strategies, we are confident that our resilience and focus on both business preservation and growth will empower us to overcome challenges and deliver outstanding performance throughout the year. Our ability to adapt and persevere positions us strongly to meet future demands and achieve sustained success,” he added.Looking ahead, UEM Edgenta remains committed to exploring new possibilities and advancing industry standards. By steadily integrating innovation and prioritizing sustainable growth, the company continues to create value for its stakeholders while striving to deliver practical and forward-thinking solutions.For further information on UEM Edgenta, visit https://www.uemedgenta.com.

Commercial facilities / Office buildings

Construction / Civil engineering

Management Consulting

UEM Edgenta Delivers Resilient Performance in 1H 2024, Achieves Strategic Milestones

In today's world, homes play a vital role in the lives of
individuals. Purchasing a home often represents a significant investment of a
lifetime's savings and embodies the dreams of many families. However, ensuring
the quality of homes during construction, minimizing safety risks, and
protecting consumer rights are crucial considerations. A robust quality control
system is essential in achieving these objectives.

MYCRS, a Malaysian technology startup, leverages IoT and
RFID-supported tools to address a critical issue in the global construction
industry—ensuring concrete quality. In previous construction projects,
concrete, as a fundamental building material, has often been overlooked during
the testing process, hidden behind interior decorations. This lack of
transparency has allowed unscrupulous individuals to deceive the public and
homebuyers, falsely assuring them of the safety of their homes.

MYCRS addresses this challenge by tracking each cement
sample's journey from liquid to solid state and monitoring the entire
engineering testing process using RFID tracking chips. Through scanning,
testing, and monitoring, MYCRS compiles captured readings into engineering data
compliant with British Standards, providing users with accurate, tamper-proof,
and error-free outputs. This not only enhances testing efficiency but also
provides vital evidence for post-engineering liability tracing.

Initially developed for the Hong Kong railway and Hong
Kong-Zhuhai-Macao Bridge projects, MYCRS has expanded its reach to cover all
major construction projects in Hong Kong and has been adopted by the Singapore
government for Housing Development Board (HDB) construction. It is the world's
first and only technology solution provider validated by the official
engineering departments of two regions for its practicality, quality, and
stability.

Over the past five years, MYCRS has remained
committed to safeguarding the lives and assets of millions of consumers oversea,. Now,
it aims to promote and innovate its technology back in Malaysia &amp; Southeast Asia,
supporting regulatory agencies in enhancing concrete testing supervision and
ensuring the stability of every home for homebuyers. MYCRS is poised to
contribute to the realization of the Industry 4.0 vision for the concrete and
construction industries. 

The Malaysian tech team - MYCRS, known for their pivotal role in addressing the concrete test fraud issue in the Hong Kong Zhuhai Macau Bridge Mega Project, has returned home to launch their startup. Their objective is to assist Malaysian authorities and industries in advancing domestic quality justice through enhanced transparency and traceability.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/a8ebbba1ee08ca19e4ff570b1bdefea7336b928d8a77a471169f050c685f6abe/DSC08076%20final.jpg" alt="The team behind the cutting-edge concrete technology, MyCRS, revolutionizing the industry" />In today's world, homes play a vital role in the lives of
individuals. Purchasing a home often represents a significant investment of a
lifetime's savings and embodies the dreams of many families. However, ensuring
the quality of homes during construction, minimizing safety risks, and
protecting consumer rights are crucial considerations. A robust quality control
system is essential in achieving these objectives.MYCRS, a Malaysian technology startup, leverages IoT and
RFID-supported tools to address a critical issue in the global construction
industry—ensuring concrete quality. In previous construction projects,
concrete, as a fundamental building material, has often been overlooked during
the testing process, hidden behind interior decorations. This lack of
transparency has allowed unscrupulous individuals to deceive the public and
homebuyers, falsely assuring them of the safety of their homes.MYCRS addresses this challenge by tracking each cement
sample's journey from liquid to solid state and monitoring the entire
engineering testing process using RFID tracking chips. Through scanning,
testing, and monitoring, MYCRS compiles captured readings into engineering data
compliant with British Standards, providing users with accurate, tamper-proof,
and error-free outputs. This not only enhances testing efficiency but also
provides vital evidence for post-engineering liability tracing.Initially developed for the Hong Kong railway and Hong
Kong-Zhuhai-Macao Bridge projects, MYCRS has expanded its reach to cover all
major construction projects in Hong Kong and has been adopted by the Singapore
government for Housing Development Board (HDB) construction. It is the world's
first and only technology solution provider validated by the official
engineering departments of two regions for its practicality, quality, and
stability.Over the past five years, MYCRS has remained
committed to safeguarding the lives and assets of millions of consumers oversea,. Now,
it aims to promote and innovate its technology back in Malaysia &amp; Southeast Asia,
supporting regulatory agencies in enhancing concrete testing supervision and
ensuring the stability of every home for homebuyers. MYCRS is poised to
contribute to the realization of the Industry 4.0 vision for the concrete and
construction industries.

STEM (Science, Tech, Engineering, Math)

Startups

The Malaysian tech team - MYCRS, known for their pivotal role in addressing the concrete test fraud issue in the Hong Kong Zhuhai Macau Bridge Mega Project, has returned home to launch their startup. Their objective is to assist Malaysian authorities and industries in advancing domestic quality justice through enhanced transparency and traceability.

Ensuring that Shelter Lives Up to its Name with Malaysian Technology: MYCRS

PETALING JAYA: Property developer SP Setia Bhd has proposed to sell eight parcels of freehold land measuring 388.4 hectares in Tebrau, Johor Bahru, to Scientex Bhd for RM547.65 million.

This is its second attempt to dispose of the Tebrau land to the Scientex group after the termination of an earlier agreement made with Scientex’s wholly-owned subsidiary Scientex Quatari Sdn Bhd in March this year due to non-fulfilment of a condition precedent.

In a filing with Bursa Malaysia, SP Setia said its wholly-owned unit Pelangi Sdn Bhd inked today a conditional agreement with Scientex Lestari, which is 70% owned by Scientex Quatari and 30% by Azman Mahmud, for the proposed sale.

“The proposed disposal is in line with the group’s direction to optimise and rebalance its landbank while maintaining an efficient capital structure,” it said.

On May 7, 2021, SP Setia announced the proposed disposal of the same land to Scientex Quatari for RM518.15 million. However, it said the agreement lapsed due to non-fulfilment of a condition precedent, specifically in relation to the approval from the Economic Planning Unit (EPU).

This condition precedent is expected to be satisfied with the current proposal, it said, adding that the deal is targeted for completion by the second quarter of next year.

“The proposed disposal will improve the group’s gearing level and allow acceleration of project development and growth of SP Setia’s remaining townships in Johor,” SP Setia said.

Meanwhile, Scientex said in a statement that the group plans to launch a new mixed township development project on the land, which will include about 12,000 affordable houses.

The property developer and packaging manufacturer said the land acquisition will markedly expand its property development footprint in Johor, adding to its existing six townships located in Pasir Gudang, Kulai, Skudai, Senai, Pulai, and Kota Tinggi.

Scientex CEO Lim Peng Jin said the new township development aligns with the group’s vision of constructing 50,000 affordable homes in Peninsular Malaysia by 2028.

“As of June 30, we have reached the milestone of delivering 29,000 homes, which reflects our steady progress. This strategic expansion enables us to create a vibrant township in Mukim Tebrau and contribute to Johor’s development,” he said.

Scientex said upon completion, the group’s total landbank across Johor, Melaka, Negeri Sembilan, Selangor, Perak, Penang, and Kedah would expand to about 3,100 hectares.

“The proposed land acquisition is subject to approval by the Estate Land Board and the EPU, and if required, the approval of Scientex’s shareholders.

“The acquisition will be financed by internally generated funds and bank borrowings, with completion targeted for the first half of 2024,” it added.

Scientex’s shares were up five sen or 1.46% at RM3.47, giving it a market capitalisation of RM5.38 billion. SP Setia’s share price rose half-a-sen or 0.89% at 56.5 sen, valuing it at RM2.28 billion.

<h1>SP Setia to sell Johor land to Scientex for RM548mil</h1>This is SP Setia’s second attempt to dispose of the Tebrau land to the Scientex group.PETALING JAYA: Property developer SP Setia Bhd has proposed to sell eight parcels of freehold land measuring 388.4 hectares in Tebrau, Johor Bahru, to Scientex Bhd for RM547.65 million.This is its second attempt to dispose of the Tebrau land to the Scientex group after the termination of an earlier agreement made with Scientex’s wholly-owned subsidiary Scientex Quatari Sdn Bhd in March this year due to non-fulfilment of a condition precedent.In a filing with Bursa Malaysia, SP Setia said its wholly-owned unit Pelangi Sdn Bhd inked today a conditional agreement with Scientex Lestari, which is 70% owned by Scientex Quatari and 30% by Azman Mahmud, for the proposed sale.“The proposed disposal is in line with the group’s direction to optimise and rebalance its landbank while maintaining an efficient capital structure,” it said.On May 7, 2021, SP Setia announced the proposed disposal of the same land to Scientex Quatari for RM518.15 million. However, it said the agreement lapsed due to non-fulfilment of a condition precedent, specifically in relation to the approval from the Economic Planning Unit (EPU).This condition precedent is expected to be satisfied with the current proposal, it said, adding that the deal is targeted for completion by the second quarter of next year.“The proposed disposal will improve the group’s gearing level and allow acceleration of project development and growth of SP Setia’s remaining townships in Johor,” SP Setia said.Meanwhile, Scientex said in a statement that the group plans to launch a new mixed township development project on the land, which will include about 12,000 affordable houses.The property developer and packaging manufacturer said the land acquisition will markedly expand its property development footprint in Johor, adding to its existing six townships located in Pasir Gudang, Kulai, Skudai, Senai, Pulai, and Kota Tinggi.Scientex CEO Lim Peng Jin said the new township development aligns with the group’s vision of constructing 50,000 affordable homes in Peninsular Malaysia by 2028.“As of June 30, we have reached the milestone of delivering 29,000 homes, which reflects our steady progress. This strategic expansion enables us to create a vibrant township in Mukim Tebrau and contribute to Johor’s development,” he said.Scientex said upon completion, the group’s total landbank across Johor, Melaka, Negeri Sembilan, Selangor, Perak, Penang, and Kedah would expand to about 3,100 hectares.“The proposed land acquisition is subject to approval by the Estate Land Board and the EPU, and if required, the approval of Scientex’s shareholders.“The acquisition will be financed by internally generated funds and bank borrowings, with completion targeted for the first half of 2024,” it added.Scientex’s shares were up five sen or 1.46% at RM3.47, giving it a market capitalisation of RM5.38 billion. SP Setia’s share price rose half-a-sen or 0.89% at 56.5 sen, valuing it at RM2.28 billion.Our commitment to elevate the homes we build and the lives we touch stems from a singular and distinctive belief.12, Persiaran Setia Dagang
Setia Alam, Seksyen U13
40170 Shah Alam
Selangor Darul Ehsan, Malaysia

+603 3348 2255

This is SP Setia’s second attempt to dispose of the Tebrau land to the Scientex group.

SP Setia to sell Johor land to Scientex for RM548mil

PETALING JAYA: Mah Sing Group Bhd will give priority to affordable homes in future development projects apart from highrise residential units and industrial properties.

In a statement issued after its annual general meeting today, Mah Sing founder and group managing director Leong Hoy Kum said the group remained committed to its strategy to focus on its M Series of affordable landed property.

“This customer-centric approach has struck a chord with homebuyers and we feel confident that we will achieve the RM2.2 billion sales target this year,” he said.

The group has already sold RM600.6 million worth of new properties in the first quarter of this year.

Mah Sing went on a shopping spree recently, acquiring three new tracts of land for which it plans to launch projects of about RM4.5 billion in gross development value (GDV) in the first half of its current financial year.

The group said the new acquisitions have raised its prime landbank to 978.53 hectares.

The group’s cash position now stands at RM900.6 million and its still has RM26.86 billion in unrealised GDV and unbilled sales. This, it said, would ensure sustained earnings visibility.

As of March 31, 2023, unbilled sales stood at RM2.26 billion.

Mah Sing also announced the appointment of former navy chief Abu Bakar Abdul Jamal as its chairman.

In a filing with Bursa Malaysia today, the group said he would join the group on Aug 1.

Abu Bakar, who spent 40 years at both the staff and command levels in the navy, was the first four-star admiral and 10th chief of the navy.

He also once served as chairman of Affin Fund Management Bhd and chairman of several companies in diverse industries such as naval and marine, property development, construction and the automotive sectors after his retirement.

He also served as a board member of the armed forces pension fund Lembaga Tabung Angkatan Tentera.

Mah Sing shares closed at 62 sen today, unchanged from yesterday, valuing the group at RM1.48 billion.

<h1>Mah Sing to focus on affordable homes</h1>The group, which has expanded its landbank with three new acquisitions, remains confident that it will achieve its RM2.2 billion sales target.PETALING JAYA: Mah Sing Group Bhd will give priority to affordable homes in future development projects apart from highrise residential units and industrial properties.In a statement issued after its annual general meeting today, Mah Sing founder and group managing director Leong Hoy Kum said the group remained committed to its strategy to focus on its M Series of affordable landed property.“This customer-centric approach has struck a chord with homebuyers and we feel confident that we will achieve the RM2.2 billion sales target this year,” he said.The group has already sold RM600.6 million worth of new properties in the first quarter of this year.Mah Sing went on a shopping spree recently, acquiring three new tracts of land for which it plans to launch projects of about RM4.5 billion in gross development value (GDV) in the first half of its current financial year.The group said the new acquisitions have raised its prime landbank to 978.53 hectares.The group’s cash position now stands at RM900.6 million and its still has RM26.86 billion in unrealised GDV and unbilled sales. This, it said, would ensure sustained earnings visibility.As of March 31, 2023, unbilled sales stood at RM2.26 billion.New chairmanMah Sing also announced the appointment of former navy chief Abu Bakar Abdul Jamal as its chairman.In a filing with Bursa Malaysia today, the group said he would join the group on Aug 1.Abu Bakar, who spent 40 years at both the staff and command levels in the navy, was the first four-star admiral and 10th chief of the navy.He also once served as chairman of Affin Fund Management Bhd and chairman of several companies in diverse industries such as naval and marine, property development, construction and the automotive sectors after his retirement.He also served as a board member of the armed forces pension fund Lembaga Tabung Angkatan Tentera.Mah Sing shares closed at 62 sen today, unchanged from yesterday, valuing the group at RM1.48 billion.At Mah Sing, excellence is achieved by upholding the basic principles that our company is built upon. These statements are at the very core of everything that we do and are what will continue to set our course for the future as a company and as Malaysia’s top property developer.PHONE 1 300 80 6888
EMAIL crm@mahsing.com.my

The group, which has expanded its landbank with three new acquisitions, remains confident that it will achieve its RM2.2 billion sales target.

Mah Sing to focus on affordable homes

ISKANDAR PUTERI,&nbsp;Malaysia,&nbsp;May 22, 2023 - United Malayan Land Bhd (UMLand) is pleased to announce the appointment of&nbsp;Andrew Tan You Yuan&nbsp;as General Manager to support the activation of UMCity Medini Lakeside (UMCITY), Iskandar Puteri, which is nearing completion. Tan is a seasoned industry expert with over 25 years of experience in the hospitality and property management sector.

<a href="https://mma.prnasia.com/media2/2081782/image.jpg?p=publish" target="_blank" rel="nofollow"></a>General Manager, Andrew Tan (far left) with Director, Michael Cheng (second from the right) and staff members of UMCITY.

Bringing a wealth of experience to his new role,&nbsp;Andrew Tan&nbsp;has held various leadership positions in major hospitality and property development companies&nbsp; in&nbsp;Malaysia,&nbsp;Singapore,&nbsp;London&nbsp;and&nbsp;China. He will be a part of the team responsible for overseeing the branding and positioning of UMCITY, a project set to become a world-class destination for conducive business, residential waterfront living and leisure. Included in this 30-acre development are several business hotels, premium offices, a lifestyle retail mall and upscale serviced residences. The entire project is centered around the magnificent 13-acre Lakeside Recreational Park, which is designed to host a variety of events, carnivals and celebrations.

UMCity Medini Lakeside's Director,&nbsp;Michael Cheng, added "The management is delighted to welcome&nbsp; Andrew as our new General Manager and confident his expertise will bear success for our flagship UMCITY, which is set to be a game-changer in the Iskandar Puteri area." He added, "With Medini Lakeside, it is not just about building properties, but creating an immersive living experience that connects people, fosters innovation, and promotes sustainable development."

Nestled in the heart of the Medini Iskandar Central Business District (CBD), this project boasts a strategic location within reach of&nbsp;Singapore&nbsp;and a myriad of amenities, including Legoland, Educity, Puteri Harbour, and Singapore CBD. It aims to play a vital part in&nbsp;Johor's&nbsp;development, not only through the provision of world-class townships and projects but also by maintaining high standards within the region of Iskandar Malaysia.

Tan said, "I am thrilled to be part of such a dynamic company, as UMLand has a proven track record of delivering high-quality developments that enhance the lives of the communities they serve. I am looking forward to working with the team on this landmark development, set to be in full operations by year-end, that will be the pride of&nbsp;Johor."

For more information:&nbsp;<a href="http://www.umland.com.my/portfolio/umcity-medini-lakeside/" target="_blank" rel="nofollow">www.umland.com.my/portfolio/umcity-medini-lakeside/</a>&nbsp;.

Source: UMCity Medini Lakeside (UMCITY), Iskandar Puteri

<h1>UMLAND APPOINTS ANDREW TAN YOU YUAN AS GENERAL MANAGER TO SUPPORT THE ACTIVATION OF UMCITY MEDINI LAKESIDE DEVELOPMENT</h1>Seasoned Industry Expert to Join UML and for its Growth and Expansion Plans in The Business District of Iskandar Puteri, JohorISKANDAR PUTERI,&nbsp;Malaysia,&nbsp;May 22, 2023 - United Malayan Land Bhd (UMLand) is pleased to announce the appointment of&nbsp;Andrew Tan You Yuan&nbsp;as General Manager to support the activation of UMCity Medini Lakeside (UMCITY), Iskandar Puteri, which is nearing completion. Tan is a seasoned industry expert with over 25 years of experience in the hospitality and property management sector.<a href="https://mma.prnasia.com/media2/2081782/image.jpg?p=publish" target="_blank" rel="nofollow"></a>General Manager, Andrew Tan (far left) with Director, Michael Cheng (second from the right) and staff members of UMCITY.Bringing a wealth of experience to his new role,&nbsp;Andrew Tan&nbsp;has held various leadership positions in major hospitality and property development companies&nbsp; in&nbsp;Malaysia,&nbsp;Singapore,&nbsp;London&nbsp;and&nbsp;China. He will be a part of the team responsible for overseeing the branding and positioning of UMCITY, a project set to become a world-class destination for conducive business, residential waterfront living and leisure. Included in this 30-acre development are several business hotels, premium offices, a lifestyle retail mall and upscale serviced residences. The entire project is centered around the magnificent 13-acre Lakeside Recreational Park, which is designed to host a variety of events, carnivals and celebrations.UMCity Medini Lakeside's Director,&nbsp;Michael Cheng, added "The management is delighted to welcome&nbsp; Andrew as our new General Manager and confident his expertise will bear success for our flagship UMCITY, which is set to be a game-changer in the Iskandar Puteri area." He added, "With Medini Lakeside, it is not just about building properties, but creating an immersive living experience that connects people, fosters innovation, and promotes sustainable development."Nestled in the heart of the Medini Iskandar Central Business District (CBD), this project boasts a strategic location within reach of&nbsp;Singapore&nbsp;and a myriad of amenities, including Legoland, Educity, Puteri Harbour, and Singapore CBD. It aims to play a vital part in&nbsp;Johor's&nbsp;development, not only through the provision of world-class townships and projects but also by maintaining high standards within the region of Iskandar Malaysia.Tan said, "I am thrilled to be part of such a dynamic company, as UMLand has a proven track record of delivering high-quality developments that enhance the lives of the communities they serve. I am looking forward to working with the team on this landmark development, set to be in full operations by year-end, that will be the pride of&nbsp;Johor."For more information:&nbsp;<a href="http://www.umland.com.my/portfolio/umcity-medini-lakeside/" target="_blank" rel="nofollow">www.umland.com.my/portfolio/umcity-medini-lakeside/</a>&nbsp;.Source: UMCity Medini Lakeside (UMCITY), Iskandar Puteri

Travel / Sightseeing

Seasoned Industry Expert to Join UML and for its Growth and Expansion Plans in The Business District of Iskandar Puteri, Johor

UMLAND APPOINTS ANDREW TAN YOU YUAN AS GENERAL MANAGER TO SUPPORT THE ACTIVATION OF UMCITY MEDINI LAKESIDE DEVELOPMENT

KUALA LUMPUR (May 2): Nadi, the first phase of S P Setia Bhd's Setia Commerce Square commercial development in Setia EcoHill 2, is 80% booked following its preview on March 25.

According to a press release dated April 28, the booking rate reflects "significant demand from business owners and investors who are looking to be part of the township's commercial growth".

Setia EcoHill general manager Koh Sooi Meng said: “With Nadi as our first commercial offering in Setia EcoHill 2, not only will the shops bring more commercial vibrancy and more retail options and amenities to Setia EcoHill 2’s population of approximately 40,000 residents, it will also draw footfall from 3,000 acres (1,214 hectares) of the surrounding mature neighbourhoods, which have an estimated catchment population of up to 100,000 residents, including our very own Setia EcoHill township that is nearby Setia EcoHill 2.&nbsp;

"University of Nottingham Malaysia, which is located within a 20-minute drive from Setia EcoHill 2, is also estimated to contribute a population of 5,000 students from its campus," he added.

Nadi&nbsp;offers 86 shopoffices — 80 double and triple-storey terraced units and six semi-detached units — over 34 acres of land. The project has a gross development value of RM500 million, and is expected to complete by 2026.&nbsp;

The terraced shopoffices measure 26ft by 75ft for the double-storey intermediate units, and 42ft by 75ft and 46ft by 75 ft for the triple-storey corner units, with built-ups ranging from 3,494 sq ft to 8,642 sq ft. The units have a starting price of RM1.55 million.

The semi-detached shopoffices have a land area of 70ft by148 ft&nbsp;and built-ups from 5,566 sq ft, with selling prices from RM3.7 million.

According to the statement, Nadi's corner units will have a 9ft verandah, suitable for restaurants and cafes, while the semi-detached units will feature a 15ft ceiling height for the ground floor to allow in more natural light and improved indoor ventilation for the units.

"Located within close proximity to several upcoming high-rise projects in the surrounding neighbourhoods, we are targeting businesses from food and beverages, retail, and the service industry, such as restaurants, clinics, mini-supermarkets, showrooms, convenience stores, service boutiques and educational centres, to support the rapid growth and development of the self-contained township," added Koh.

According to the statement, the developer is also actively looking for a strategic partner to develop its petrol station land within the commercial precinct.

<h1>First phase of Setia Commerce Square in Setia EcoHill 2 is 80% booked following preview</h1>KUALA LUMPUR (May 2): Nadi, the first phase of S P Setia Bhd's Setia Commerce Square commercial development in Setia EcoHill 2, is 80% booked following its preview on March 25.According to a press release dated April 28, the booking rate reflects "significant demand from business owners and investors who are looking to be part of the township's commercial growth".Setia EcoHill general manager Koh Sooi Meng said: “With Nadi as our first commercial offering in Setia EcoHill 2, not only will the shops bring more commercial vibrancy and more retail options and amenities to Setia EcoHill 2’s population of approximately 40,000 residents, it will also draw footfall from 3,000 acres (1,214 hectares) of the surrounding mature neighbourhoods, which have an estimated catchment population of up to 100,000 residents, including our very own Setia EcoHill township that is nearby Setia EcoHill 2.&nbsp;"University of Nottingham Malaysia, which is located within a 20-minute drive from Setia EcoHill 2, is also estimated to contribute a population of 5,000 students from its campus," he added.Nadi&nbsp;offers 86 shopoffices — 80 double and triple-storey terraced units and six semi-detached units — over 34 acres of land. The project has a gross development value of RM500 million, and is expected to complete by 2026.&nbsp;The terraced shopoffices measure 26ft by 75ft for the double-storey intermediate units, and 42ft by 75ft and 46ft by 75 ft for the triple-storey corner units, with built-ups ranging from 3,494 sq ft to 8,642 sq ft. The units have a starting price of RM1.55 million.The semi-detached shopoffices have a land area of 70ft by148 ft&nbsp;and built-ups from 5,566 sq ft, with selling prices from RM3.7 million.According to the statement, Nadi's corner units will have a 9ft verandah, suitable for restaurants and cafes, while the semi-detached units will feature a 15ft ceiling height for the ground floor to allow in more natural light and improved indoor ventilation for the units."Located within close proximity to several upcoming high-rise projects in the surrounding neighbourhoods, we are targeting businesses from food and beverages, retail, and the service industry, such as restaurants, clinics, mini-supermarkets, showrooms, convenience stores, service boutiques and educational centres, to support the rapid growth and development of the self-contained township," added Koh.According to the statement, the developer is also actively looking for a strategic partner to develop its petrol station land within the commercial precinct.Source : Setia EcoHill