The forum will discuss the contents of a 64-page report entitled Invest Malaysia 2011 which details the various sectors of the Malaysian economy and provides insider perspectives from key government officials and top corporate executives. The report was produced by UAE-based media company Focus International in cooperation with the Malaysian Investment Development Authority (MIDA) and is the first of its kind to target the six GCC states. The event will be held under the joint cooperation of MIDA, the Embassy of Malaysia in Abu Dhabi, Focus International and Arabian Business.

Invest Malaysia 2011 will be opened by H.E. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, followed by key speeches from Malaysias Minister of International Trade and Industry, Y.B. Dato Sri Mustapa Bin Mohamed, and Malaysian Prime Minister the Honourable Dato Sri Mohammad Najib bin Tun Haji Abdul Razak. MIDA Director General and CEO Datuk Jalilah Baba will also address the assembly. Masood Al Awar, CEO of TASWEEK, will be among the events prominent Middle East panelists.

TASWEEKs recent visits to Malaysia have revealed numerous investment opportunities especially suited for Arab property stakeholders pursuing a streamlined yet robust portfolio amidst the protracted downturn. The countrys real estate industry has strong fundamentals so it is an excellent partner for our regions investors. Moreover, Malaysia has been successfully developing several niche property markets such as retirement and healthcare which Arab investors can help to further grow and profit from, said Masood.

Invest Malaysia 2011 will enable the Middle East and Malaysia to forge closer ties via investments, knowledge transfer and financial collaboration. The forum will feature four major sessions: The Big Picture: Invest in Malaysia 2011, Investing in the Capital Markets of Malaysia, Renewable Energy and Halal Sector, and Investing in Healthcare in Malaysia. TASWEEK will capitalize on the conference to facilitate real estate investments and partnerships between Malaysian and the UAE. The company has made recent visits to Malaysia to secure ventures with major players such as Superboom Projects and coordinate with financial institutions involved in real estate.

TASWEEK Real Estate Development and Marketing is a one-stop shop for real estate and related services and marketing driven by its core competencies of networking and know-how. The company leverages over 20 years of innovation and leadership to provide products and services covering Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy.

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About Tasweek:

Tasweek, a provider of comprehensive real estate development solutions for the UAE and the broader Middle East, leverages over 20 years of extensive experience in valuations, design, and real estate marketing across the UAE, GCC and MENA regions. The private joint stock company draws on its involvement in managing the properties of over 25,000 customers to ensure enhanced client satisfaction in the delivery of a diverse range of services, throughout all stages of the real estate development’s lifecycle.

Through its two core competencies of knowledge and networking, Tasweek is highly capable of introducing clients to the right people, creating vital links between industry movers and players, and developing ideas to successfully bring properties to market

Best Western International – The World’s Largest Hotel Chain® – signed on its first eco-residences in Malaysia – in one of Malaysia’s key cities, Ipoh, which is best known for local gastronomic experience.

Built around a pristine lake on the fringe of a virgin forest, The Haven Lakeside Residences consists of three blocks of international standard luxury condominium units in eco-embracing surroundings. The project will be completed in 2013 with wooded jogging tracks, tree-lined paths, a club house equipped with gymnasium, sauna, all dining restaurant, roof top lounge/ open bar, a 60-metre designer pool, children’s playground and ample car parking facilities.

“Best Western International is excited to welcome the first eco-friendly Best Western Premier property in this captivating city of Ipoh. This new addition will boost Best Western’s profile in Malaysia, a destination we view as holding great tourism potential,” said Best Western International’s Vice President of International Operations for Asia and the Middle East, Glenn de Souza.

“For an international hospitality giant with a history of excellence and success to have such confidence in The Haven only underscores what we have known all along – that there is a growing attraction for luxury apartment living in Ipoh, and an emerging trend for a resort lifestyle that provides the highest levels of security and privacy for residents and medium stay visitors,” says Peter Chan, CEO of the property developer, Superboom Projects Sdn Bhd.

Situated within the state of Perak, which is in the northern part of Peninsular Malaysia. The city is located in the Kinta Valley and surrounded by limestone hills, featuring a tropical rainforest climate. Ipoh is served by direct flight from Singapore and tourists can also reach Ipoh overland from Kuala Lumpur, Singapore and Penang.

The projects under the Economic Transformation Programme (ETP) are likely to provide a positive impetus to the real estate market, said Datuk Abdul Rahim Rahman, Executive Chairman of Rahim & Co Group of Companies.

“The high-end condominium market will see an uptrend by 2012 as the projects to be implemented under the ETP would make city living more vibrant,” he said.

Last year, the market trended flat or sideways, due to oversupply and lack of interest from purchasers and investors, as the impact of the 2008 global recession was still being felt, he said.

“Demand was noted to be selective. Developers with good track record offering good design, high quality materials and professional property management continue to attract buyers.”

About 14.5 million sq ft of new office space will be completed in the next five years, of which around 27 percent would be located in the suburbs, said Mr. Abdul Rahim.

“With the growth of new townships, the traditional office market in the city centre will have to compete with new commercial developments in these suburbs, which is made possible by the increasing accessibility via major highways.”

The outlook for the local retail industry is likely to be optimistic, with the total retail sales forecast to climb to RM227 billion in 2014, from RM137 billion in 2010, he added.

“Such optimism is driven mainly by the relatively low unemployment rate of 3.6 percent, higher disposal income of the working population and the growing tourism industry,” he said.

Rahim & Co Group of Companies executive chairman, Datuk Abdul Rahim Rahman, said the projects to be implemented under the Economic Transformation Programme (ETP) were expected to provide a positive impetus to the property market.

“The high-end condominium market will see an uptrend by 2012 as the projects to be implemented under the ETP would make city living more vibrant,” he told a media briefing on the ‘Prospects of the Malaysian property market in 2011′ here Thursday.

He said the market trended sideway or flat due to oversupply and general lack of interest by investors and purchasers last year as the effects of the 2008 global financial crisis had continued to be felt.

“Demand was noted to be selective. Developers with good track record offering good design, high quality materials and professional property management continue to attract buyers,” he said.

Abdul Rahim said an estimated 14.5 million sq ft of new office space would be completed in the next five years, of which about 27 per cent would be in the suburbs.

“With the growth of new townships, the traditional office market in the city centre will have to compete with new commercial developments in these suburbs, which is made possible by the increasing accessibility via major highways,” he said.

He said the outlook for the local retain industry was expected to be positive with total retail sales in Malaysia forecast to increase to RM227 billion in 2014 from RM137 billion last year.

“Such optimism is driven mainly by relatively low unemployment rate of 3.6 per cent, higher disposal income of the working population and the growing tourism industry,” he said.

The opening of two shopping complexes in the suburbs and one in the city centre has increased total take-up to almost 800,000 sq ft during the year, he said.

“Upon opening, the Empire Shopping Gallery in Subang Jaya and Jusco Mahkota Cheras achieved occupancy rate of 97 per cent and 95 per cent respectively while Fahrenheit in Bukit Bintang recorded 90 per cent occupancy rate,” he said.

Abdul Rahim said 13 new shopping malls would be opened this year, offering a total of 4.5 million sq ft of retail space, including two malls that were being refurbished and rebranded, Intermark Mall and Viva Mall.

On the industrial market, he said, strong demand from small and medium enterprises (SMEs) for small-sized industrial building like semi-detached factories was noted and this has encouraged developers to launch more projects especially in the more established commercial areas located along major highways

“Several projects launched in 2009 and last year received good take-up rate of between 80 per cent and 100 per cent as they were priced as low as RM2.5 million.

“Demand came mainly from SMEs to expand their businesses and most the new industrial properties suit their needs,” he said.

He said with the expected expansion in the manufacturing activities, more developers were expected to launch their projects this year.

“As the supply of industrial land within prime commercial areas is limited, more developments are expected to be launched in areas like Port Klang, Pulau Indah as well as outside the Klang Valley like Nilai,” he said.

– BERNAMA

Group managing director N.K. Tong says the company is in an advanced stage of planning for two new projects in Persiaran Madge and Jalan Tun Razak in Kuala Lumpur. Subject to approvals, one of the projects is earmarked for launch in the third quarter of this year and the other in 2012.

The project in Persiaran Madge will comprise 19 spaciously-designed residences on a 5-storey block with built-up area of 3,500 to 6,500 sq ft. They will be priced from RM3.8mil or about RM3,500 per sq ft.

The Jalan Tun Razak project will have 160 fully-furnished service suites in a 20-storey block. The 750-sq-ft to 3,000-sq-ft units will be priced from RM1.2mil or RM1,500 per sq ft.

Tong says besides niche high-rise projects, Bukit Kiara Properties will also be looking for land of 50 to 100 acres to build landed residences in gated communities.

“We may consider setting up joint ventures with landowners for such developments,” he says in an interview with StarBizWeek.

Since its establishment in 2000, the ISO-certified company has finished two projects in Mont’Kiara Aman Kiara and Hijauan Kiara.

Completed in July 2004, Aman Kiara was the first development in the country to feature strata-titled bungalows and condovillas. Aman Kiara was handed over to purchasers nine months ahead of schedule.

Tong says the company’s second project, Hijauan Kiara was completed in early 2008. It was the first condominium project in Mont’Kiara to feature a private lift lobby concept.

In fact, the unique name of Mont’Kiara, which is today synonymous with exclusive upmarket condominiums, was coined by Tong. The residential enclave turns out to be a big hit among the modern upper-echelon of the local community and the expatriates.

Tong works closely with his father, Datuk Alan Tong who is the group chairman of Bukit Kiara Properties. Alan, the founder of the Sunrise group, is dubbed the “Condominium King of Malaysia”.

The father-and-son team is focused on improving the living standards of homebuyers by providing a good form of lifestyle living with ample facilities and security and property management.

“We believe the relationship with our customers begin with the handing over of keys to their properties. Principally, our business is based on the core values of quality, innovation, caring and integrity. We do not rush through our projects and take about a year to launch a new phase or project,” Tong adds.

Bukit Kiara Properties also goes the extra mile to ensure each of its projects has the stamp of individuality and offers first-of-its-kind features.

In its latest development, the VERVE Suites series which comprises four condominium blocks in the western enclave of Mont’Kiara, the company takes great effort to offer fully-furnished designer suites with four different interior design themes in each tower.

The four towers Viva, Vibe, Vogue and Vox have a total gross development value (GDV) of RM592mil.

Each tower has its own unique sky lounge concept Vertigo, Hypercubes, Gardens of Concentrico and Versilica Sky Beach. The residents of VERVE Suites get to share the use of facilities of all four towers.

Viva and Vibe Towers have been fully sold while 95% of the 255 units in Vogue Tower has been taken up. The final tower, Vox, is 80% sold.

Tong says that by 2014, when the entire VERVE Suites development is completed, there will be a total of 100,000 sq ft of recreational facilities and four sky lounges. There will also be 87,000 sq ft of gross retail space for lease. Recreational amenities provided include swimming pools, BBQ areas, children’s playground, reading pavilions, reflexology paths and landscaped podiums.

The VERVE Suites is also setting new industry benchmark in terms of quality. The Vibe Tower has recently emerged as one of the highest CONQUAS (Construction Quality Assessment System) scorers for fully-furnished serviced apartments in Malaysia.

The project obtained a score of 82.2, the highest ever for a high-rise project in the country. The overall CONQUAS score is derived from the sum of 10 categories internal floor, wall, ceiling, door, window, other fittings, roofing, external wall, external works, and mechanical and engineering works.

At the end of 2009, the Viva tower obtained a CONQUAS score of 79.4.

Tong says although CONQUAS assessment is not a requirement to be fulfilled by local developers, Bukit Kiara Properties adopts the stringent quality monitoring system introduced by the Building and Construction Authority of Singapore in all its projects to fulfil its commitment to build quality homes.

“We believe that it is important for our projects to undergo this international quality assessment. After all, quality workmanship of a project is important as it enhances the value of the properties,” he adds.

In line with the company’s quality drive, a group of site supervisors, contractors and consultants will attend CONQUAS training each year to understand the quality aspects of property development. The company also implements the CONQUAS scheme to reward or penalise its contractors.

Each year, Bukit Kiara Properties pays special bonuses to its contractors who meet the high-quality CONQUAS standards required of its projects.

“This special bonus has been initiated since the company’s inception in 2000 to promote quality workmanship,” Tong says.

Increasing opportunities in countries in the Association of Southeast Asian Nations, or Asean, are the reason behind Mr. Apte’s move to Singapore from Hong Kong in the coming month, he told Dow Jones Newswires in an interview. Chief Executive Stephen Bird, who runs Citigroup’s Asia-Pacific operations with Mr. Apte, will remain in Hong Kong.

Mr. Apte said he will continue to focus on India, Asean and Australia, while Bird will remain responsible for Greater China, Korea and Japan.

“Recent inflation risks pose upside pressure to our inflation forecasts and a bias towards earlier rate hikes than previously expected, but we do not expect this to hamper deal activity, from the conversations we are having with our clients, many continue to want Asean investment stories,” Mr. Apte said.

Citigroup operates in seven Asean markets, namely Vietnam, Thailand, Singapore, the Philippines, Indonesia, Malaysia and Brunei. The three other Asean member states are Cambodia, Laos and Myanmar.

Total investment banking revenue in Southeast Asia last year hit a record $1.59 billion, up from $1.19 billion in 2009, boosted by record volumes of initial public offerings and debt deals, according to Dealogic.

Citigroup’s investment banking revenue in Southeast Asia last year totaled $57 million, up from $49 million in 2009.

The region’s continued growth in capital raising–whether through bonds, IPOs or follow-on offerings–will come as bank financing becomes increasingly limited.

“Companies in the region are beginning to see that they have a finite capacity for growing through bank debt, so they’ll need to raise equity or debt through capital markets,” said Mr. Apte.

“With Basel III and all the caps on lending coming up, financial institutions are going to continue going to capital markets to raise funds.”

Under Basel III, banks will face restrictions on dividend payments and executive pay if their capital falls below 7% of their assets, measured on a risk-weighted basis. Basel III will also require banks to keep more liquid assets, so they can meet daily funding needs for 30 days.

Southeast Asia’s stock markets were among the best performers globally last year, adding to the attraction of tapping the equity capital markets for funds, said Mr. Apte.

Indonesia’s stock market, for instance, rose 46%, and Thailand’s jumped 41% in 2010, although share prices have been hit since the start of this year by concerns regional central banks will need to fight inflation with a series of interest-rate rises that will temper growth.

Mr. Apte said while there are risks of a correction in Southeast Asian equity markets, political volatility is less of an issue.

“In recent years, most of the region has also seen political stability, even Thailand, which has been bouncing back,” said Mr. Apte. “We will continue to invest in the Asean region to support growth.”

Last year, Citigroup started equity broking operations in Indonesia and Malaysia, and became the first U.S. bank to offer credit cards in Vietnam.

Citigroup was an adviser last year on several major Southeast Asian IPOs, including Global Logistic Properties Ltd.’s $3.0 billion offering in October, and Mapletree Industrial Trust’s $718 million deal the same month.

It also advised Singapore’s DBS Group Ltd. on the $104 million sale of its asset-management operations to Japan’s Nikko Asset Management, a unit of Sumitomo Trust & Banking Co., in exchange for a 7.25% stake in the Japanese outfit.

Deal activity in Southeast Asia will continue to be hectic, said Mr. Apte, with Singapore deals focused on real estate and financial services, Indonesia transactions on commodities and minerals, and Malaysia deals on palm oil and energy. There will also be activity in Vietnam, despite recent falls in its currency.

“We have ambitious long-term plans in Vietnam and this includes helping companies raise capital and advise on both inbound and outbound M&A,” said Mr. Apte, whose firm helped the government of Vietnam raise $1 billion from the debt markets in 2010.

Citigroup is a bookrunner on PT Garuda Indonesia’s IPO that will raise around $500 million for the state-owned flag carrier, according to a term sheet seen by Dow Jones Newswires last week. The bank is also a bookrunner on the $1.6 billion rights offering by Indonesia’s Bank Mandiri Persero.

Write to Nisha Gopalan at nisha.gopalan@dowjones.com

In their view, as the domestic economy becomes increasingly liberalized, the government should focus on building a sound legal system, and ensure that the market mechanisms are properly operated, so that the prices of the stock market and real estate can be decided by the market forces.

The professional views expressed by the financial community must be recognized and affirmed, and the Government has to give guidance on the structural deficiencies in the stock and real estate markets.

If the Malaysian economy continues to advance, the domestic stock and real estate markets should develop steadily, in line with the economic situation. A market price is determined by supply and demand, and the domestic stock and real estate markets are enjoying steady development, mainly because the excess supply in the market in the past has been improved.

With sufficient capital and funds in the market, supply and demand can be deployed properly, so naturally the prices will stabilize. Hence, the current stock and real estate market conditions should continue to maintain equilibrium through the natural adjustment of the economic system.

According to the economic indicators recently observed, the Malaysian economic growth rate this year will remain above 6%. Although some industries may suffer poor performance, as goals of the economic transformation in Malaysia have been set, so earnings will be good in industries such as the electronics, information and technology industries.

The Malaysian foreign trade had registered growth in the fourth quarter last year, even though the economies in Europe and North America have been weak.

In November last year, Malaysian imports remained at double-digit growth. On the other hand, export orders also reflect that the current prosperity will continue, and this shows that the economic situation in Malaysia is not so gloomy.

Hence, it is certainly normal to expect the stock market performance to move steady upward. But the government should guard against the stock market expanding too fast, leading to what is known as the “bloated” phenomenon.

According to the Kuala Lumpur Stock Exchange statistics, there were nearly 800 listed companies in 2008, but the number has increased to 957 at present.

In the stock market, the share prices of some listed companies which have been performing well are still rising, especially the financial and plantation stocks.

On the other hand, the performance of many listed companies fell due to poor financial health. And it is only the result of natural market adjustment that the heavy FTSE stocks that have long suffered from too high price earning ratio (PER), so investors no longer favour them.

In fact, the situation in the market is but a reflection of the gradual transformation of the market, with the stock market returning to using the performance of listed companies and reasonable PER as the basis for evaluation being a normal trend.

In the real estate market, the government should be aware of imbalance in supply and demand. In the past the industry created a loop by pushing up housing prices, and finally, under the increasing gap in supply and demand, the high-grade spiral lost its strength, which led to falling prices and even bursting of the bubble.

According to statistics, 78% of the population in Malaysia has his or her own house. Hence in theory, it is impossible to maintain the long-term rise in real estate.

Developers under the lure of profits participate in speculation and create over-supply. Once the supply of a large number of houses is released, the growth in demand will slow down, the inevitable collapse of the phenomenon will happen. This will in turn have an impact on the banks whose main businesses are in real estate loans, and the proportion of overdue loans in the financial industry will soar.

Whether the stock market or the real estate market, disorders appear when the government legal system fails, or the tax system is unreasonable.

In the past, prices in the stock and real estate markets boomed, and the market speculators profiteered easily, mainly because of excessive supply in market causing prices to plummet eventually. The reason that market profits existed in the past is due to the exemption of securities transactions tax by the government and serious deficiencies in the land tax system.

This has also resulted in the continued expansion of the gap between the rich and poor in the country, and therefore the fairness of the tax system is also questioned.

Hence, the government should no longer delay the implementation of related amendments to tax laws for the securities trading tax levy, and tax for land transactions.

The government should also act to prevent excess supply, so that the market can maintain its equilibrium and momentum.

Translated by Adeline Lee

Sin Chew Daily

“After a series of discussions, MRCB and the company have not been able to reach an agreement on the definitive terms of the proposed merger,” IJM Land said in a filing with the stock exchange. No other details were given in the companies’ separate statements to the stock exchange Thursday.

A person familiar with the deal said the parties couldn’t agree on the share swap ratio and the management control of the new merged entity. Under the deal, a new company was to be formed to take over both IJM Land and MRCB.

In a memorandum of understanding signed in November, the companies said shares in IJM Land and MRCB would be exchanged based on a price of 3.65 ringitt ($1.18) per share for IJM Land and 2.30 ringitt per share for MRCB.

The news sent shares of both companies sharply lower: At the midday break, IJM Land shares were down 11.7% at 2.86 ringitt while MRCB shares were down 2.9% at 1.99 ringitt. The companies subsequently requested trading of their shares be suspended until Monday.

If the merger had gone through, it would have created Malaysia’s second largest property group with a market capitalization of 7 billion ringitt ($2.27 billion).

IJM Land will now continue to be a small and less liquid property stock with a niche in residential property, while MRCB—in which the government owns a majority stake—will stay focused on commercial properties, said Kuala Lumpur-based CIMB Research head Terence Wong.

As a result, analysts think IJM Land and MRCB shares may fall further on resumption of trade Monday.

“The announcement is a negative surprise, as most people liked the deal,” Mr. Wong said.

Tasweek Real Estate Development and Marketing, an advisor and solutions provider serving the Middle East real estate markets, recently attended the launching of the ‘Name This 280 Million Years Old Rock Contest’ held at the construction site of the upcoming Haven Lakeside Residences in Ipoh, Malaysia.

Tasweek took the opportunity to explore possible ventures with Superboom Projects Sdn Bhd and identify potential Malaysian partnerships as part of its focus on diversifying investments towards untapped growth markets.

The Haven Sdn Bhd, a wholly owned subsidiary of Ipoh-based property developer Superboom Projects, is offering the public a top prize of RM25,000 (Dhs29,241) to name the 14-storey pre-Jurassic limestone rock near the lake of its RM230m (Dhs269m) Haven high-rise condominium project. Haven Lakeside Residences is a luxury residential development in Bukit Tambun, Ipoh It comprises 3 blocks of 489 26-storey units with sizes ranging from 868 to 5,510 square feet. Unit prices are from RM250,000 (Dhs293,101) up to RM1.41 (Dhs1.65m). Haven is scheduled for completion by 2013.

Tasweek was invited along with other exclusive VIP guests from Singapore, China, India, the UK and Japan to join the formal launching of the contest. Ipoh is the most attractive vacation and retirement location in Malaysia and reflects the huge potential of the country’s surging real estate and tourism sectors.

“Our visit to Malaysia revealed several partnership possibilities and provided us with a good overview of prevailing local business conditions. Ipoh proved to be an excellent leisure and retirement market which we hope to partner with in the future. This was an excellent follow-through to our recent meetings with Malaysian financial institutions involved in real estate and affirmed the sustained growth of the country’s property sector, specifically its high-end residential segment which we are very keen on further exploring. Our trip to Malaysia proves the availability of many growth markets that complement our expansion goals,” said Masood Al Awar, CEO, Tasweek Real Estate Development and Marketing.

The real estate industry of Malaysia, the world’s biggest Islamic bond market, has been performing exceptionally well amidst the recession due to the availability of affordable financing, strategic promotions, property-friendly regulations, and the popularity of luxury developments. Tasweek intends to tap the strong fundamentals of the country’s real estate sector as it pursues opportunities within other neighboring emerging economies.

Tasweek Real Estate Development and Marketing is actively engaged in Purchase and Sale of Strategic Assets; Asset Management; Joint Ventures and Strategic Alliances; and Marketing Consultancy. It began commercial activities in 2009 and achieved a 5 per cent increase in shareholders’ equity by the end of the year. Tasweek has more than 20 years of extensive experience in the Mena real estate sector and employs a financing model combining timeliness, cost, and quality.
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IPOH: The winner of the contest to name a 14-storey high limestone outcrop, off Jalan Tambun, will receive RM25,000.
The 280 million-year-old rock formation is located at the site of The Haven, a luxury condominium project.

The first runner-up will receive RM10,000 and the second runner-up RM5,000. There are also two consolation prizes of RM1,000 each.

The developer, Superboom Projects Sdn Bhd, is offering RM5,000 to the contestant who comes up with the winning slogan, RM2,000 to the first runner-up and RM1,000 to the second runner-up.

Superboom Projects chief executive officer Peter Chan said the developer was looking for a meaningful name that carried a message.

“The name must be concise and simple. It will be etched in stone,” Chan added.

Ipoh mayor Datuk Roshidi Hashim launched the contest at the project showroom. Also present was Superboom Project associate director Tengku Fuad Tengku Cherit.

The contest is open until Jan 10 next year. Get your entry forms at www.thehaven.com.my.

Fax your entries to 03-2287 6701 or email them to thehavenrock@gmail.com.

You can also mail your entries to The Contest Secretariat, c/o Ming, KH & Associates Sdn Bhd, Suite 9-7, The Boulevard Offices, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur