InvestKL needs one more MNC to meet quota

InvestKL needs one more MNC to meet quota

With nine multinational companies committed to expand their operations here in Malaysia, InvestKL will only be needing one MNC to complete this year's 10 annual quota set by the government to achieve 100 comes 2020.

This year's new entries include healthcare, consumer lifestyle and lighting enterprise Phillips, which will partner with Universiti Malaya to established a regional sleep competency centre in the university's Specialist Centre; and European oleochemicals producer Oleon, which will set up its regional headquarters alongside its processing plants here.

Meanwhile, American property developer Horizon Group Properties has partnered with Mainstay Properties to build a premium retail outlet in Sepang, Selangor.

Notably, the 100 companies brought in by InvestKL are expected to create over 60,000 employment as well as contribute RM40 billion in gross national income by 2020.

InvestKL is tasked by the International Trade and Industry Ministry (Miti), the Federal Territories Ministry and Performance Management and Delivery Unit (Pemandu) under the Prime Minister’s Department and works with the Malaysian Investment Development Authority (Mida) to lure MNCs with revenues exceeding US$500 million (RM1.61 billion) into the country.

“We aim to make Kuala Lumpur a regional hub, so we are showing MNCs that with the business and living facilities available here, it is entirely possible,” InvestKL chief executive officer Zainal Amanshah told Starbiz.

“In fast-blooming Asia, different cities have its own strengths. In South-East Asia, Singapore, which is often compared to Malaysia, has its specialties too. MNCs recognise that, but the higher cost in Singapore is a factor that holds them back,” he noted.

“What InvestKL does complements the efforts of Miti and Mida. It’s a matter of focus because those ministries are too widely spread. We, on the other hand, are niche, so we know where the hubs are. The ministries can leverage off us, so we complement one another,” added Zainal.

Eco World receives overwhelming support

Eco World Development Sdn Bhd, the parent company of Focal Aims Holdings Bhd, 

recorded over RM1 billion in property sales over the last 30 days, according to media 

reports.

“It's a rarity for an untested developer to receive such backing,” noted Edmund Tham, 

Head of Research at Mercury Securities.

Backed by the personalities in Eco World, Focal Aims is set to become a key player in 

Malaysia's property development segment.

This confidence comes from the belief that Eco World Development will ultimately be 

helmed by Tan Sri Liew Kee Sin.

A major stakeholder in property developer SP Setia Bhd prior to being taken over by 

Permodalan Nasional Bhd, Liew was responsible for establishing the market perception 

which equates SP Setia with quality homes.

Two months ago, Liew Tian Xiong, the eldest son of Liew, along with former stockbroker 

Datuk Eddie Leong Kok Wah and Tan Sri Abdul Rashid Abdul Manaf, SP Setia's former 

director, gained majority control (65 percent) of Focal Aims.

With this, some of Eco World's assets are expected to be injected into Focal soon, said 

people familiar with the matter. Market rumour is that the asset injection will see a new 

shareholder within Focal, in the person of Tan Sri Syed Mokthar Albukhary, due to his 

close association to the elder Liew and Leong.

Meanwhile, DRB-HICOM Bhd announced in April that it had sold 623.29 acres of land to Eco 

World for RM604.65 million.

Eco World used some of the land to launch its first two project – the  Eco Sky project in 

Taman Wahyu in Kuala Lumpur and the Eco Botanic project in Nusajaya, Johor.

Laman ceylon unit available for sell

Laman Ceylon service residence. 

Freehold. Developer is Eminent Ace 

Sdn Bhd. type G level 21. Floor area 

111 sqm(1300sf ). Comes with 2 car 

parks lots

• Facilities

The modern amenities and innovative facilities at LAMAN CEYLON give the residents the opportunity to enjoy city lifestyle living while relaxing in a private serviced accommodation. The communal recreation facilities floor is located at level 6 which has the maximum privacy. The facilities comprise of the following:-
• 24 hours security
• Laundry & dry cleaning services (collection only)*
• Fully-equipped "floating" & "transparent" gymnasium visible from the street level
• ½ Olympic size swimming pool & children pool with cabana and pool deck
• Sauna & steam with lockers and changing facilities
• Children's playground
• Nursery
• Sheltered parking facilities
• Prayer room
• Driver's room
• Function room with preparation room / serving pantry facilities
• Meeting room
• Reading room
• Party deck
• Landscaped garden with reflective pool
• Broadband Internet access*

Excellent location

Laman Ceylon is located in Kuala Lumpur’s Golden Triangle near the central business district and famous national landmarks such as the KL Tower and KL Twin Towers. It is within walking distance to the LRT train and monorail stations and in close proximity to reputable medical centres namely Prince Court, Twin Towers Medical Centre, Tung Shin Hospital ,HSC Medical Centre and Gleneagles Intan. The nearby Changkat Bukit Bintang offers a wide array of bistros, restaurants, bars and entertainment hotspots, for an exuberant nightlife and entertainment experience. Neighbouring Jalan Alor opens up a colourful galore of local cuisine and delicacies 24 hours a day. It is also a stone’s throw from Malaysia’s premier shopping complexes such as Suria KLCC, Pavilion, Starhill, Berjaya Times Square and Sungai Wang Plaza.  

New property curbs to affect MM2H interest in Perak

The government's recent proposal to raise the floor price of property ownership for foreigners may see potential Malaysia My Second Home (MM2H) participants moving away from Perak, according to Gloria Choong, Managing Director at Hibiscus New Lifestyle (MM2H).

She said most of the participants are having second thought on settling down in Perak after Prime Minister Datuk Seri Najib Tun Razak proposed to increase the property price cap for foreigners to RM1 million from RM500,000 previously.

She also noted that these participants would likely opt to take their money to Johor Bahru or Kuala Lumpur should they be compelled to purchase properties worth over RM1 million.

“At least in these bigger cities, it is easier to sell off the property and they are assured of higher investment returns,” explained Choong.

To date, the government had not clarified if MM2H participants are covered by the proposal unveiled during the tabling of the 2014 Budget.

“We are a bit lost as to what will happen. It also makes it hard for potential participants to decide whether or not they should move to Perak,” Choong said.

“Of late, Perak has been receiving more MM2H participants because they favour its low cost of living compared to the Klang Valley, Johor and Penang...However, I am afraid that should the proposal include those buying property under the MM2H scheme, this positive trend will most likely see a reversal,” she added.