Author: Tan KW | Publish date: Thu, 29 Jan 23:19
Thursday, 29 January 2015
Huayang keeps its "promise" by acquiring lands in Bukit Mertajam
(BM), Penang. If this acquisition is successful, it will mark Huayang's
maiden foray into Penang property market.
When Huayang declared its intention to acquire land in Bukit
Mertajam last year, I thought it would probably be somewhere near Juru
area.
However, it turns out to be right in the old BM town center, which to me, is a bit of disappointment.
BM - Big Foot Hill
According to analysts, Huayang proposed to acquire 2 parcels of land measuring 4.9 acres & 3.14 acres for total cash of RM31 million, even though Huayang just made official announcement on one of the parcel (4.9 acres) through Bursa Malaysia.
Land 1 & 2 are located at the same area according to analyst's
description, which is at BM town accessible through Jalan Aston &
Lorong Usahaniaga 1.
Huayang plans to build 720 units of serviced apartment and 36 units
of commercial shoplots on Land 1 with an estimated GDV of RM242.8mil.
So it's likely to be a 3-block serviced apartment on Land 1, in
which the acquisition is expected to be completed by mid 2015.
Land 2 has residential title and will only made available in early 2016.
After this acquisition, Huayang's outstanding GDV will increase by 11% to approximately RM3.1bil.
Land 2 has residential title and will only made available in early 2016.
After this acquisition, Huayang's outstanding GDV will increase by 11% to approximately RM3.1bil.
BM old town has passed its glorious time in which it was busy at day time and happening at night time.
Now, it is still busy and congested at day time, but relatively
quiet at night. One thing for sure is, it is a heaven for foreign
workers especially during weekends and public holidays.
Thus, as a BM folk, personally I don't like to stay in this area.
New residential properties are mostly developed at the outskirt of BM such as Alma & Juru.
Nevertheless, there is a sign of revival of BM old town as
developers started to clear squatters and build high-end properties
here.
Ivory group who later paired with Dijaya (Tropicana), is one of the
first to develop BM town center about 5 years ago with its luxury
landed mixed development known as Aston Villa.
Sunway then followed with its Sunway Wellesley mixed development project which is currently still under construction. As we know, Sunway will not sell cheap.
As land and property price jumps in recent years, developers start to build condominiums.
Aston Park (Aston Vista) - a stone throw away from Huayang's land
Ivory has earlier launched the second phase of its BM project which was a luxury condominium called Aston Park. However, this project was quietly disposed to another lesser-known developer with its project name changed to Aston Vista.
Condos projects (roughly <2km radius from BM town center) which
are already launched or awaiting to be launched in this area include:
- Seri Jaya condo (completed)
- BM Residence (Tambun Indah - completed)
- BM City (U/C)
- Aston Vista
- SkyVilla (Sunway Wellesley)
- BM Park Lane
- Dutamas Residence
- Sentosa Residence
- Berjaya Condominium (U/C)
- Casa Residence
- Spectrum Residence
- 79 Residence (U/C)
- Prominence (U/C)
Possible location of Huayang's land in Bukit Mertajam
The map above just shows possible location of Huayang's land in BM.
Though it might not be accurate, it should be very close to that area.
As we can see from the map, Huayang's land is near BM hospital and
some famous schools here such as Jit Sin independent high school, BM
Convent and BM High School.
The land is also located next to Aston Heights which is a luxury gated & guarded landed residential project.
The land is also located next to Aston Heights which is a luxury gated & guarded landed residential project.
Perhaps to many people, this area might be a very convenient place to stay.
Anyway, BM is a highly populated area. Huayang has to come out with a good plan and good price in order to be successful.
Palm Oil to See Healthy Growth
Feed
the world: Filepic of a worker tending to oil palm seedlings at a Felda
Agricultural Services nursery in Jerantut, Pahang. Palm oil production
in Malaysia is expected to increase to 20.1 million tonnes this year to
meet higher global demand.
Output and demand to rise in 2015, say industry experts
GLOBAL
supply of palm oil – the world’s most tradeable vegetable oil – will be
marginally higher this year with continued demand expected from
traditional markets like China, India, Pakistan and the European Union
(EU), say industry experts.
Total production from
top producers Indonesia, Malaysia and Thailand is expected to hit 61.8
million tonnes this year, up 4.3% from 59.3 million tonnes last year.
Global
palm oil export will increase by 3.3% to 43.3 million tonnes this year,
according to forecast by independent vegetable oils and fats research
group, Oil World.
Top producer Indonesia will
continue to lead the growth in the global palm oil supply this year,
contributing about 32.7 million tonnes from its expanding mature oil
palm areas, it adds.
During the period 2013-14,
Indonesia produced 31 million tonnes of palm oil and exported about 21
million tonnes, says Indonesian Palm Oil Association executive director
Dr Fadhil Hasan.
Lately, there have been dramatic
changes to the composition of Indonesia’s palm oil exports, which are
now dominated by production in downstream operations in the republic as
well as the increase in domestic biofuel consumption.
Meanwhile,
palm oil production in Malaysia is expected to increase slightly to
20.1 million tonnes this year, due to the prolonged dry weather in the
early part of 2014 that will result in oil palm stress this year thus
affecting fresh fruit bunches.
According to latest
statistics on the Malaysian palm oil industry, crude palm oil (CPO)
production in Malaysia rose to 19.67 million tonnes in 2014 (19.2
million tonnes in 2013) – thanks to the higher oil extraction rate and
new production areas particularly in Sarawak.
The
10 major export destinations for Malaysian palm oil last year were
China, India, Pakistan, the EU, the Philippines, Vietnam, the United
States, Japan, Iran and Benin, a republic in West Africa. These markets
accounted for 12.59 million tonnes or 73% of Malaysia’s total palm oil
exports last year.
On the other hand, Thailand is
expected to experience poor palm oil output this year at about 2.1
million tonnes because its oil palm areas mainly in the southern region
were badly hit by the recent floods.
Indonesia and
Malaysia are still the key determinants of the world’s palm oil supply –
both countries account for about 85% of the total world production,
says industry expert Ling Ah-Hong of Sabah-based Gan Ling Sdn Bhd.
Ling,
who is formerly IJM Plantations Bhd executive director as well as
former COO Plantations of Hap Seng Consolidated Bhd, says that improving
palm oil age in Indonesia is the key to future supply growth.
Malaysia,
however, will need to step up on its replanting activities by about
150,000ha to 200,000ha annually to boost its palm oil supply growth, he
says.
For this year, Ling estimates palm oil
production from Indonesia to hit 32.4 million tonnes, Malaysia 20.3
million tonnes and Thailand 1.8 million tonnes.
Higher demand
South
Asian markets namely India, Pakistan and Bangladesh will continue to
support palm oil by increasing their imports this year, says Oil World.
It
adds that palm oil is expected to continue to dominate India’s imports
of oils and fats this year despite the recent increase in import duty on
edible oils in the country.
Analysts have pointed
out that the growth rate of palm oil import into India could be lower
if the price discount between palm oil and its rival soybean oil
continues to narrow further.
In recent months, the
price discount between palm oil and soybean oil has narrowed
significantly to between US$50 and US$60 per tonne compared with the
traditional price discount of about US$150 per tonne in the past one
decade, according to plantation industry expert M.R. Chandran.
For
India, total oils and fats consumption is expected to be in the range
of 21.5 million tonnes this year, of which imports account for 12.5
million tonnes due to the expected increase in the influx of palm oil
and soybean oil. Palm oil imports into India is expected to reach 8.3
million tonnes this year, compared with 7.7 million tonnes in 2014, adds
Oil World.
Pakistan will also see its palm oil
imports increasing by about 5%-7% this year from 2.4 million tonnes
estimated in 2014, Oil World says. Pakistan’s intake of palm oil will
also hinge on the commodity’s price discount and that of other vegetable
oils such as soybean oil, Oil World adds.
Another major palm oil importer this year is the East Asian market namely China, South Korea and Japan.
The
palm oil intake in the East Asian market is expected to continue to
increase this year due to the current lower price which makes the
commodity an attractive option.
Malaysia is the
largest supplier and exporter of palm oil to this region, while China
remained the largest importer of oils and fats in the East Asian region
last year, says Oil World.
European market
As
for the EU market, Oil World points out that imports of oils and fats
are expected to be lower at 10.3 million tonnes this year (10.7 million
tonnes in 2014). This is in line with anticipation of lower consumption
at 31.5 million tonnes this year.
According to the European Commission, about 40% of the vegetable oils are used for the EU biofuel production.
With
the anticipated lower rapeseed output in Europe due to potential impact
from a strong El Nino/La Nina effect in 2015-2016, there will likely be
lower demand from the biodiesel sector in the EU.
On
the other hand, LMC International Ltd economist Dr Joseph Feyertag says
at a recent seminar that there is still good demand for palm oil in the
Eastern European markets.
The largest markets for
palm oil are found in the Black Sea region, namely Russia, Slovakia,
Romania, Bulgaria and Ukraine, he says.
“Outside of this region, palm oil seems to be considerably under utilised,” he adds.
Moving forward, he believes that palm oil still has a long way to go in Eastern European markets.
Weather conditions
Meanwhile,
industry expert Ling has cautioned on the possibility of an emerging
weak El Nino phenomenon in the first quarter 2015 but “it is unlikely to
reduce the growth in global palm oil supply this year.”
For
Malaysia, the uncertain weather conditions in recent months could
result in mixed impacts on the palm oil production in the Peninsula as
well as Sabah and Sarawak.
An El Nino-induced
drought could trigger multiple lagged effects on production such as
bunch failure, floral abortion and preferential male flowers formation –
with effects lasting up to 24 months later.
Hence, production could be reduced by up to 30% depending on the severity of the drought, adds Ling.
■ The
Reach & Remind Friends of the Industry Seminar 2015 & Dialogue,
organised by the Malaysian Palm Oil Council, will be held at the
Putrajaya Marriot Hotel on Feb 12. Plantation Industries and Commodities
Minister Datuk Amar Douglas Uggah Embas will deliver the keynote
address. For details on registration, call K.V. Anthony or Sarafhana of
the MPOC (03-7806 4097).
Source : The Star
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