Property News

winners said:

I see that apart from the MCKIP, which I last heard has also been quite dormant, the other mentioned investments are mainly reclamation works for their own property developments and is already infamous especially in Iskandar Johor, which is contributing to a serious glut in the supply of condos during the next 2 to 3 years.

The other is the Bandar KL project, which is being done to secure the HSR contract and is as good as a done deal. This project though may be sustainable for the long term because it will take about 5 years to complete and will be followed by the periodical maintenance and technical transfers.

Nevertheless, all these Chinese FDIs are good and should remain worthy if there will be no social and racial conflicts in Malaysia. However, judging from the constant radicalization of the orthodox minority (which I don't need to elaborate here) and the government's commitment to continue to please them in order to win their votes, I see it as a gamble by the Chinese.

One must always remember that the indigenous have and will always be feeling uneasy with the Chinese if they think that they are being outnumbered, overpowered or losing their grip. One must always not forget about these incidents: the waving of the Kris incident in Putrajaya, the unlawful dressing code for visitors of all races to government offices, the pending implementation of a "women's only" check out counters in supermarkets and separate trolleys for Muslims, the rioting at Petaling Street, etc.

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Apparently not dormant at all:

http://www.ecerdc.com.my/en/media_r...-land-and-sime-darby-property-announced-as-n/


MALAYSIA-CHINA KUANTAN INDUSTRIAL PARK (MCKIP) DEVELOPMENT ACHIEVES SIGNIFICANT PROGRESSConstruction works by ECERDC & Alliance Steel Currently Ongoing; IJM Land and Sime Darby Property Announced As New Malaysian Consortium Partners Of MCKIP Master Developer
KUANTAN, Saturday 4 April 2015: Property and construction giants IJM Land Berhad and Sime Darby Property Berhad have signed up as the new Malaysian consortium partners in developing the Malaysia-China Kuantan Industrial Park (MCKIP).

International Trade and Industry Minister Dato’ Sri Mustapa Mohamed made the announcement during a working visit to MCKIP here today. During the visit, the Minister was briefed on works in progress at MCKIP by YBhg. Datuk Seri Jebasingam Issace John, CEO of the East Coast Economic Region Development Council, as well as officials from the Malaysia-China Kuantan Industrial Park Sdn. Bhd. (MCKIPSB).

“As the Master Developer of MCKIP, MCKIPSB will play a key role in constructing the major infrastructure within the park and providing the required amenities for investors in MCKIP. I am pleased with the recent progress of MCKIP,” said YB Dato’ Sri Mustapa.

MCKIP, a Malaysia-China consortium, is the first industrial park in Malaysia to be jointly developed by both Malaysia and China and to be accorded the “National Industrial Park” Status. Together with its sister park, China-Malaysia Qinzhou Industrial Park (CMQIP), the two parks have been identified by both governments as an “Iconic Project for Bilateral Investment Cooperation” that will drive the development of industrial clusters in both countries.

MCKIPSB is a 51:49 joint venture between a Malaysian consortium and a Chinese consortium. IJM Land holds a 40 percent equity interest in the Malaysian consortium, Kuantan Pahang Holding Sdn Bhd, together with Sime Darby Property (30 percent) and the Pahang State Government (30 percent).

The 49 per cent stake of the Chinese consortium is led by the state-owned conglomerate Guangxi Beibu Gulf International Port Group, with a 95 per cent equity interest. The remaining 5 per cent is held by the Qinzhou Investment Company.

“With the strong support and commitment from both the Malaysian and Chinese Governments and the involvement of the private sector, we are confident of the success of MCKIP and CMQIP projects. The parks will serve as testimony of the close relationship enjoyed by our countries,” Dato’ Sri Mustapa noted.

He said that the participation of IJM Land and Sime Darby in the development of MCKIP marks a significant milestone. “Both firms have strong credentials as master developers and they are also well-established names not only in Malaysia, but also internationally,” he said.

The MCKIP has already attracted RM9.7 billion in investments, while construction works to build primary infrastructure at the park by the ECERDC and the construction of an integrated steel mill by Alliance Steel (M) Sdn Bhd are ongoing.

Alliance Steel (M) Sdn Bhd, a subsidiary of Guangxi Beibu Gulf Iron and Steel Co Ltd from China, is investing RM4.2 billion to build a modern integrated steel plant on a 710-acre site in MCKIP. The plant, which will produce high carbon steel and H-shaped steel, is scheduled to become operational in 2017, with an annual production capacity of 3.5 million tonnes.

In addition, Guangxi Beibu Gulf International Port Group and IJM Corporation Berhad are investing RM3 billion in the Kuantan Port expansion project. Another RM2.5 billion investment is committed by MCKIPSB. The investments in MCKIP are expected to create more than 12,000 new job opportunities by 2020, said Datuk Seri Issace.

Target industries for MCKIP include energy-saving and environment-friendly technologies, alternative and renewable energies, high-end equipment manufacturing and the manufacture of advanced materials.

To attract strategic emerging industries to the park, ECERDC is collaborating with the Ministry of International Trade and Industry (MITI), the Malaysian Investment Development Authority (MIDA) and the Pahang State Government to promote MCKIP to potential investors.

MCKIP was officially launched in 2013 by Prime Minister YAB Dato’ Sri Mohd. Najib Tun Haji Abdul Razak and His Excellency Jia Qinlin, Chairman of the Chinese People’s Political Consultative Conference. China has emerged as Malaysia’s largest trading partner over the past five consecutive years. In 2014, total trade between China and Malaysia stood at USD 102 billion. MITI’s target is to grow bilateral trade to USD160 billion by 2017.

The expansion of Kuantan Port into a deepwater port, expected to be completed by 2016, will help enhance its position as the quickest and most direct route between Malaysia and ports in China’s eastern region. The completion of the project will also see Kuantan cementing its status as the integrated industrial and logistics hub for the ECER

winners said:

If China's words can be trusted, there wouldn't be the constant unlawful enforcement and suppression of the Muslim population in XinJiang anymore. To continually suppressing them can only lead to more retaliation, unless they can be totally eliminated from their land, which is of course, the final objective of China.

Communists will remain communists. They can never be as liberal as the West, where even a Muslim can become elected as the mayor of London.

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Guess you read only western media.

sgtsk said:

The prc are in Malaysia under the instituted policy of malaysian government as welcome investors, tourists or students...not poor immigrants to grab economic, employment and political pie with bumi.

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Kindly substantiate, or did I missed out something?

sgtsk said:

Guess you read only western media.

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I was trying to refrain from commenting on these PRC investments all these while. Anyway, let's share the information.
I suspect the PRC industrial cooperation, HSR, the mass condos in JB and KL (Country Garden Semenyih), the Forest City, International schools are all linked. Once all are ready, it will be unleashed. I do not think there's anyone who can stop the PRC from coming here.

Even the Confucius College has already been set up in University Malaya http://kongzium.edu.my/

sgtsk said:

Guess you read only western media.

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I don't read the People's Daily nor the Global Times, which are mainly propaganda tools from the CCP. After all, it's their official military's news media. What they don't want their locals to know, they'll just simply censor them.

sgtsk said:

Apparently not dormant at all:

http://www.ecerdc.com.my/en/media_r...-land-and-sime-darby-property-announced-as-n/

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Good, just hope that Malaysia doesn't get conned by them eventually (in one way or another), just like what had happened to the Suzhou Industrial Park (SIP). I admit that I am biased against China because I'm always skeptical of their motives.

winners said:

Good, just hope that Malaysia doesn't get conned by them eventually, just like what had happened in the Suzhou Industrial Park (SIP). I admit that I am biased against China because I'm always skeptical of their motives.

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Big difference
SIP is Singapore put money there but in Malaysia, it is the PRC putting money here.
If you follow the developments closely, China is trying to shift their industries and trade out of the country capitalising on FTAs which Malaysia has eg. ASEAN PTA, Middle East and TPPA.

winners said:

Kindly substantiate, or did I missed out something?

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What would you like me to substantiate?

sgtsk said:

What would you like me to substantiate?

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How do you quantify that

The prc are in Malaysia under the instituted policy of malaysian government as welcome investors, tourists or students...not poor immigrants to grab economic, employment and political pie with bumi.

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.

Even many of those current Chinese property developers in JB are engaging their own Mainland workers on their sites. And I would expect the same for the HSR deal.

winners said:

How do you quantify that .

Even many of those current Chinese property developers in JB are engaging their own Mainland workers on their sites. And I would expect the same for the HSR deal.

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It is very normal to have your own workers to work on your project. Why need to train new workers with cultural and language barriers?
Don't look down on these PRC contractors. Mah Sing is using them for Meridin project. Even in KLCC, the new Four Season Hotel as well as the W Hotel are using PRC Contractors too.

winners said:

Good, just hope that Malaysia doesn't get conned by them eventually (in one way or another), just like what had happened to the Suzhou Industrial Park (SIP). I admit that I am biased against China because I'm always skeptical of their motives.

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Maybe you should investigate so that you could refrain from firing off misleading allegations.

Suzhou development project had some tough initial years but now suzhou industrial park is top 2 park in China and making good money. Where is the report from singapore govt that declared it is still losing money?

http://www.straitstimes.com/asia/ea...ngs-to-know-about-the-china-singapore-project

Sip wast initiated in 1994. If singapore got cheated why did singapore initiated another G to G project of Tianjin Eco City in 2007 and followed by another G to G project in Chongqing in 2015?

http://www.channelnewsasia.com/mobile/business/singapore/singapore-and-china-s/2410366.html

Also Fyi, Singapore is now the biggest investor in China and China is Singapore biggest trade partner.

So your claim that China cheated Singapore and could not be trusted does not gel with Singapore's actions in and with China. It is very dishonorable to enjoy benefits of cooperation while at the same time rubbishing your partner.

Tekkun said:

It is very normal to have your own workers to work on your project. Why need to train new workers with cultural and language barriers?
Don't look down on these PRC contractors. Mah Sing is using them for Meridin project. Even in KLCC, the new Four Season Hotel as well as the W Hotel are using PRC Contractors too.

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Exactly, by doing so, how is it going to benefit the ordinary Malaysians, be they contractors or site workers? It's similar to the money they invested here are being repatriated back by their own workers.

sgtsk said:

Maybe you should investigate so that you could refrain from firing off misleading allegations.

Suzhou development project had some tough initial years but now suzhou industrial park is top 2 park in China and making good money. Where is the report from singapore govt that declared it is still losing money?

http://www.straitstimes.com/asia/ea...ngs-to-know-about-the-china-singapore-project

Sip wast initiated in 1994. If singapore got cheated why did singapore initiated another G to G project of Tianjin Eco City in 2007 and followed by another G to G project in Chongqing in 2015?

http://www.channelnewsasia.com/mobile/business/singapore/singapore-and-china-s/2410366.html

Also Fyi, Singapore is now the biggest investor in China and China is Singapore biggest trade partner.

So your claim that China cheated Singapore and could not be trusted does not gel with Singapore's actions in and with China. It is very dishonorable to enjoy benefits of cooperation while at the same time rubbishing your partner.

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I'd expected you to dig this up. If the SIP had been making good money (before the handover), why does Singapore still need to sell its majority shares back to the Chinese? And this SIP is currently under the full control of the Chinese.

winners said:

How do you quantify that .


Even many of those current Chinese property developers in JB are engaging their own Mainland workers on their sites. And I would expect the same for the HSR deal.

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The prc developers and contractors are allowed into Malaysia because it is malaysia's policy to allow the prc in. Is it not?

Whether Prc workers, engineers are allowed into malaysia to carry out the projects are also matter Malaysia's policy. Is it not?

Today there are 2 million legal foreign workers in Malaysia and so are estimated 2 million illegal ones. Why would a few hundred prc technical personel and workers an issue? Any way it is up to malaysian govt to allow or disallow entry of foreign workers.

Anyway, for those who are pro-China, I sincerely wish that Malaysia will eventually benefit from their investments with the Chinese, be they industrial, property or others.

1 thing that puzzles me is that why doesn't Penang (and Butterworth for that matter since many will also counter argue that Penang's land is limited) does not receive the lion's share of FDIs from China since it is predominantly under the Malaysian Chinese's DAP control. So, it seems that the Malaysian Malays are more receptive to the Chinese, rather than the Malaysian Chinese. There should be a motive behind this.

winners said:

I'd expected you to dig this up. If the SIP had been making good money (before the handover), why does Singapore still need to sell its majority shares back to the Chinese? And this SIP is currently under the full control of the Chinese.

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You claimed singapore lost money in sip where is the report that say it is still losing? After few tough years SG become risk aversed and wanted to cut exposure.

sgtsk said:

Whether Prc workers, engineers are allowed into malaysia to carry out the projects are also matter Malaysia's policy. Is it not?

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That is the whole matter. Malaysia currently doesn't impose restrictions on foreign worker quota on companies. This is a loophole for companies, and especially those foreign ones, to exploit upon. Singapore was once like this and had learned its lessons.

sgtsk said:

You claimed singapore lost money in sip where is the report that say it is still losing? After few tough years SG become risk aversed and wanted to cut exposure.

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Unfortunately, this matter won't be revealed because it had involved much of the CPF funds as well. It's a well known fact, which you can ask almost every Singaporean. If Singapore had become more risk adverse, why still invests in Tianjin and Chongqing?

winners said:

I don't read the People's Daily nor the Global Times, which are mainly propaganda tools from the CCP. After all, it's their official military's news media. What they don't want their locals to know, they'll just simply censor them.

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Political ideology and issues are more susceptible to propaganda but news, events and economy are less proned. To me some 90% of western media are propaganda platforms. I find it weird that I being a Chinese have to rely on western propaganda to understand China myself. If one admires the west or japanese a great deal, first thing you ought to learn from them is that the japs and westerners don't rely on China propaganda to understand their people's affairs.

Further, what is the brain for? Couldn't one use his or her brain a bit to make some assessment whether a piece of infor is propaganda or not?

winners said:

Unfortunately, this matter won't be revealed because it had involved much of the CPF funds as well. It's a well known fact, which you can ask almost every Singaporean. If Singapore had become more risk adverse, why still invests in Tianjin and Chongqing?

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It just means SG initial decision to cut stake was a mistake and SG makes good money in sip and therefore went on to put more money into Tianjin Eco and chongqin projects, expecting to make more money.