(The Star) Aeon director: GST won’t affect group

KUALA LUMPUR: The implementation of the goods and services tax (GST) in Malaysia is not expected to have any impact on retail group Aeon Co (M) Bhd’s earnings.

Executive director Poh Ying Loo said, as a result, there could be some cyclical effect on the consumption patterns of consumers “for a while.”

“But we expect it to normalise soon after,” he said after a shareholders’ meeting.

It had been reported recently that Malaysia should be able to rake in up to RM27bil in income if the GST was implemented at 7%, a rate similar to that of Singapore.

However, the Government has yet to decide on when to introduce the new tax.

Aeon reported a net profit of RM212.8mil for its financial year ended Dec 31, 2012 (FY12) against a net profit of RM195.4mil for FY11.

Revenue was also higher at RM3.26bil compared with RM2.98bil in FY11.

In its annual report, Aeon said despite uncertainties in the global economy and challenges in the external environment, domestic demand was expected to remain one of the key drivers of economic growth this year.

“The retailing sector will benefit from this and the sustainable private sector spending.”

It said it remained committed to its long-term plan to open more stores in strategic locations nationwide.

As at November last year, Aeon had 25 department stores and four supermarkets that generated RM3bil in retail revenue.

The company said in its annual report that it was on schedule to open a three-level community shopping centre in Kulai, Johor, by year-end.

It had said last year that it intended to mark its presence in east Malaysia by 2015.

Aeon has allocated some RM350mil in capital expenditure for this year, the same as last year. It will use the money for the opening of the Kulai store as well as refurbishing existing stores.

Aeon announced its first quarter result ended March 31 yesterday that saw its net profit soared to RM51.1mil from RM37.6mil a year ago.

This was on the back of revenue for the period that increased by 11.5% to RM869.3mil.

Source: The Star http://biz.thestar.com.my/news/story.asp?file=/2013/5/23/business/13145919&sec=business

(The Star) 100-year-old village in Jln Gombak fraught with problems

Work in progress: The River of Life project that is taking place along the riverbank of Sungai Gombak that cuts through Kampung Puah.

KAMPUNG Puah is a peaceful and scenic village, dotted with wooden houses, a river and chickens roaming about on the tarred roads.

However, residents are plagued by worry over flashfloods that occur during downpours and the redevelopment plans for the area.

The village is located near the Kuala Lumpur city centre, along the third mile of Jalan Gombak.

“This village has more than 100 years of history behind it. Most of us have lived here all our lives and want to continue doing so,” said villager Ahmad Daud Mohd Ali, 61.

Ahmad Daud said the villagers had been offered the People’s Public Housing (PPR) units three times in the past, but all the offers fell through.

This time however, we were only offered units for rental and a paltry compensation,” he said.

The Kuala Lumpur City Hall (DBKL) letter dated April this year stated that the compensation as RM1,000. Ahmad Daud said that after paying the deposit for the units, they would be left with only about RM400.

Batu PAS division chief Ishak Surin said they protested against the redevelopment of the land three times, from 2008 onwards as well as during the Kuala Lumpur Draft Plan 2020 briefings.

“The authorities re-zoned the land where our houses are located for other use, including for industrial, commercial and housing purposes. There is no place for us here,” said Ishak.

Ahmad Daud said villagers were living in fear of flashfloods, especially in low-lying areas along the riverbank.

“The floods got worse after the RM4bil “River of Life” project was undertaken along Sungai Gombak, which runs through the village. The floodwaters even rose to as high as a metre once,” he said.

Wangsa Maju MP Datuk Dr Tan Kee Kwong said living conditions in the area was also bad, with dilapidated houses.

“This is not a remote area but near the city centre, with the Petronas Twin Towers in sight,” said Dr Tan, adding that he would raise the issue in Parliament.

“It is terrible that there is not even a proper and safe entrance to this village. People have to drive to an entrance near the DUKE Highway and then cross a construction site before getting here,” said Dr Tan.

Wangsa Maju Barisan Nasional chief Datuk Dr Mohd Shafei Abdullah, who has been to the area numerous times, had reportedly said he was looking into relocating the residents.

“I am working out a plan for the construction of proper houses in this area for them.

“The residents will only have to move out to temporary homes during the construction and redevelopment works.

“Once completed, they can return,” he had said.

He had also said that Prime Minister Datuk Seri Najib Tun Razak had visited the area and promised that it would be maintained as a traditional village.

DBKL could not be reached for comments.

Source: The Star http://thestar.com.my/metro/story.asp?file=/2013/5/23/central/13042081&sec=central

(BUSINESS TIMES) Sunway plans to launch first Medini project in Jan

MIXED INTEGRATED DEVELOPMENT: Gross development value of first phase is estimated at between RM300m and RM350m

SUNWAY Bhd targets to launch its first property project in Medini, Iskandar Malaysia, in January next year.

Its chief financial officer Chong Chang Choong said the first phase will be a mixed integrated development comprising serviced apartments, office suites and retail units.

"The gross development value (GDV) of this first phase is estimated at between RM300 million and RM350 million," he told reporters after his presentation at the MIDF luncheon talk here yesterday.

Chong said a series of other project launches in Iskandar are being planned for next year.

Sunway is the owner of over 700ha of land in Iskandar, which it bought late last year.

The total GDV of its massive project there is about RM30 billion and it will keep the company busy for the next 15 to 20 years.

When fully completed, 60 per cent of the project would constitute residential units, while commercial buildings would account for the remaining 40 per cent.

"We are estimating a total built-up area of 77 million square feet with a total population of 150,000 upon the completion of our projects in Iskandar," he said.

Earlier in his presentation, Chong spoke on Sunway's optimism over the prospects of Iskandar, especially for property developers.

"We are confident that Iskandar will be a very successful economic corridor and we foresee in the coming years, commercial activities will shift from Johor Baru to the west towards Nusajaya and Medini."

With close proximity to Singapore and the island state's active participation in the Iskandar development, he said Sunway anticipates a lot of economic activities at the land very near to the causeway and the second link to Singapore.

Chong said Sunway is confident that it could replicate the successof its Bandar Sunway project in Iskandar although the latter will be a township of international stature.

He added that the proposed high-speed train between Kuala Lumpur and Singapore, the plan to extend Singapore's MRT to Tuas and a bus service to Medini, will undoubtedly augur well for Iskandar's prospects.

SOURCE:  http://www.btimes.com.my/Current_News/BTIMES/articles/sunism/Article/index_html#ixzz2U4ZVhrZ5

(BUSINESS TIMES) AEON to invest RM240m in new mall in Kulaijaya

KUALA LUMPUR: Retailer AEON Co(M) Bhd, which operates 30 stores in Malaysia, will invest RM240 million this year, in a spanking new shopping mall-cum-retail store in Kulaijaya.

"With a 430,000 sq ft floor space, the store is slated for completion in December. 

"With the opening of the new store, the company will have 31 stores nationwide," said chairman Datuk Abdullah Mohd Yusof.

Plans are afoot to open new stores and locations have been identified.

Abdullah said the retail industry in the country remains competitive as more entrepreneurs are aware of the healthy prospects and the rising demand for better shopping experience.

"AEON remains positive of its prospects and will continue to leverage on its competitive strengths and grow its business," he said after the company's annual general meeting yesterday.

Meanwhile, AEON managing director Nur Qamarina Chew said the company has allocated RM350 million for capital expenditure (capex). 

Out of this, RM120 million has been set aside for the refurbishment of existing outlets.

For a start, AEON wil focus on the refurbishment of its Ipoh Kinta City outlet slated to be carried out after the Hari Raya festive season.

"We are going to renovate the Bandar Puchong and Bandar Sunway outlets next year," she said, adding that AEON will focus on the refurbishment of one or two shopping mall-cum-retail stores, annually.

"Stores need to be up-to-dated to offer a better experience for customers as lifestyles keep changing," said Nur Qamarina, adding that AEON, which had grown steadily over the years, remained committed to its mid-term strategy to solidify its position as the market leader. Bernama

SOURCE: http://www.btimes.com.my/Current_News/BTIMES/articles/22AEON/Article/#ixzz2U4Z2DRXa

(The Star) Couple turns love for cycling into money-making venture

A uniting factor: Ther (left) and his wife Cheah have turned their passion for cycling into a business.

Van’s Urban Bicycle Co is a successful story of turning a passion into a business.

The owners, Raymond Ther and Vanessa Cheah, both 38, opened their first outlet at 3 Two Square in Section 19, Petaling Jaya, last July, after falling in love with cycling early last year.

“Raymond and I decided we should exercise for health. We each purchased a 20-inch small wheel bicycle, made friends with a few cyclists and began cycling.

“We were so into the sport and took the plunge to start a business selling folding bikes,” Cheah said.

In this husband-and-wife partnership, Ther contributes his experience as a businessman and plans the business strategy, while Cheah, who was formerly in the fashion industry, handles marketing, operations and public relations.

Ten months into the establishment of Van’s Urban Bicycle Co, they are already expanding their business with another outlet at Setia Avenue in Setia Alam.

The growth of the folding-bike community spurs the expansion of their business.

“Folding bikes are popular because they don’t take up a lot of storage space. They are also convenient for cyclists to ride and commute to work,” she said during the opening of the Setia Avenue outlet.

Living up to its claim as folding-bike specialists, Van’s Urban Bicycle Co is not just into retailing bikes and accessories.

It is also the distributor for bicycle brands Montague, Knog, Tyrell and Alex Moulton, as well as exclusive dealer for Term, Brooks and Nutcase helmets.

The prices for the folding bikes in their Setia Avenue shop range from RM900 to RM10,000.

To promote biking as a healthy pastime, Van’s Urban Bicycle Co organises three riding outings a week, on weekday nights and weekend mornings.

“Cycling is not about racing; it gets people together.

Creative designs: Van’s Urban Bicycle Co is the exclusive dealer for the colourful and quirky Nutcase helmets.

“Instead of busying ourselves with our smartphones, we communicate with fellow bikers when we are on the road,” Cheah shared.

Cycling also helps forge closer family ties. Cheah said their sons, aged four and six, join them on their outings.

Moving on, Van’s Urban Bicycle Co will open a flagship store in SS1, Petaling Jaya, next month.

Ther and Cheah are also scouting for a perfect location in Kuala Lumpur city centre for their fourth shop.

“Each store involves an investment between RM150,000 and RM200,000.

“By opening the outlets, we are covering different parts of the Klang Valley,” Cheah said.

For details, visit www.facebook.com/VansUrbanBicycleCo.

Source: The Star http://thestar.com.my/metro/story.asp?file=/2013/5/23/metrobiz/13136997&sec=metrobiz

(BUSINESS TIMES) Malaysia CPI increases by 1.7pc in Apri

KUALA LUMPUR: The Consumer Price Index (CPI) grew by 1.7 per cent in April compared with a year ago, mostly due to food prices.

The Statistics Department said yesterday that the CPI increased by 0.1 per cent compared with March.

CIMB Investment Bank regional head of economics Lee Heng Guie estimated that headline inflation could rise gradually towards a 2.5-3.0 per cent average by year-end.

"Our estimates factor in subsidy cuts at a measured pace, some pass-through for rising wages and volatile global commodity prices," he said.

Lee said core inflation, which excludes volatile food and fuel prices, slowed to 0.9 per cent from 1.0 per cent in March, suggesting that demand price pressures were contained. 

On the costlier food in April, he said the notable increases were for meat, fruit as well as milk and eggs and also higher prices of health products and services.

On the flip side, he said price inflation was slower for transport, education and miscellaneous goods and services.

A gradual rise in the CPI is expected as the year progresses from the ebbing of base effects, potential small-step adjustments in the administered prices of fuel and staple foods, higher minimum wages, and volatile global commodity prices.

SOURCE: http://www.btimes.com.my/articles/rup22h/Article/#ixzz2U4YZneop

(NST) Upgraded Ipoh airport takes off

HUGE POTENTIAL: The state government hopes to make the newly renovated Sultan Azlan Shah Airport into a transport hub

IPOH: THE Sultan Azlan Shah Airport, popularly known as Ipoh Airport among locals, was upgraded to enhance the airport's image and increase its capacity.

The airport's upgrading work started on April 13, 2011, and at a cost of RM42 million. Its operations resumed on Nov 1, last year.

The airport is now equipped with a new Air Control Tower and modern terminal which provides comfort to passengers and airport staff.

The airport was officially opened by Regent of Perak Raja Dr Nazrin Shah recently.

Present were his consort Raja Puan Besar Tuanku Zara Salim, Raja Di Hilir Raja Jaafar Raja Muda Musa, and his consort Raja Puan Muda Raja Nor Mahani Raja Shahar Shah.

Also present were Menteri Besar Datuk Seri Dr Zambry Abd Kadir, state secretary Datuk Abdul Puhat Mat Nayan, Malaysia Airports Holdings Bhd (MAHB) chairman Tan Sri Wan Abdul Aziz Wan Abdullah and MAHB managing director Tan Sri Bashir Ahmad Abdul Majid.

In his speech, Deputy Transport Minister Datuk Ab Aziz Kaprawi said the new facility would enable the airport staff to provide better services to the clients.

"It is hoped that the upgraded facilities will enable faster, quality, and more efficient service," he said.

He said the upgrading of the airport was part of the Transport Ministry's ongoing efforts to construct, upgrade and increase the quality of services at airports around the country.

Besides the longer runway, extended to 2km from 1.8km previously, the airport has also been given bigger arrival and departure lounges, with new seating areas and air-conditioning.

The longer runway will be able to accommodate some A320 and B737-800 flights at the airport.

In his speech Zambry thanked the Transport Ministry and other authorities which had worked together to upgrade the airport.

He said with the newly upgraded airport, the state government hoped to attract more air service providers.

"In this respect, I hope the authorities, including the Department of Civil Aviation, will help the state government to bring in more airlines to operate from here.

"We hope that MAS, AirAsia and other airlines will consider coming back to the airport and help Ipoh to develop as an important air transport hub in the country," he said.

Zambry said, in the meantime, the state government would also push to turn the airport as a hub for maintenance, repair and overhaul for planes.

SOURCE: http://www.nst.com.my/streets/northern/upgraded-ipoh-airport-takes-off-1.284209#ixzz2U4Y0DDvg

(NST) Mall to unveil facelift at year-end

AGELESS APPEAL: Sungei Wang Plaza spends RM30 million on makeover

KUALA LUMPUR:M SUNGEI Wang Plaza, one of the oldest most established malls in the city, if not the country, will unveil its new look at the end of the year following the completion of a RM30 million refurbishment exercise.

The exercise, which started last November, includes new ceilings and tiles, a repainted facade, upgraded lift lobbies, improved mall signage, as well as new balustrades and lighting at the main atrium. Also in the plan is a covered walkway, which is currently being constructed, along the mall's frontage in Jalan Sultan Ismail.

When completed, it will create a seamless link with the covered walkway constructed by City Hall, to allow shoppers to walk comfortably from one shopping centre to the next in Bukit Bintang, regardless of the weather.

Complex manager F.K. Tang said: "The secret to Sungei Wang Plaza's enduring popularity over its 36-year history is its ability to reinvent itself and stay relevant to shoppers.

"These refurbishment works are in line with this tradition. It will provide shoppers with a fresher and more modern shopping experience."

"Although works are in progress, shoppers can continue to enjoy their visits here as there is no closure of business. All works are carried out at night, after the mall's regular operating hours."

The refurbishment exercise conforms with the Bukit Bintang-KLCC Tourism Association's efforts to elevate the status of Kuala Lumpur, in particular the Bukit Bintang-KLCC shopping district, as a world class shopping destination.

Sungei Wang Plaza is also anticipated to be a long-term beneficiary of the Mass Rapid Transit (MRT) project which, once operational, is expected to have 25,000 commuters every hour.

The Bukit Bintang MRT station, which will be located close to Sungei Wang Plaza, is scheduled to open in 2017.

This is the mall's second refurbishment exercise since it opened in 1977. In 1992, Sungei Wang Plaza underwent its first major refurbishment exercise, which included the construction of the concourse retail floor, which accommodates shops as well as a space for theme exhibitions and promotional events.

The mall has hosted many events, pageants and concerts of international stature.

SOURCE: http://www.nst.com.my/streets/central/mall-to-unveil-facelift-at-year-end-1.284021#ixzz2U4XUiQbf

(NST) Seamless travelling in and out of KL Sentral

BETTER ACCESSIBILITY: Transport hub to have three more pedestrian bridges for safety and convenience of commuters

KUALA LUMPUR: COMMUTERS can look forward to better services and accessibility at KL Sentral station.

For the added convenience of commuters, the premier transport hub will soon have pedestrian bridges on three floors connecting the Nu Sentral mall to the main hall of KL Sentral.

The project by Malaysian Resources Corporation Bhd (MRCB), will also see the construction of a pedestrian bridge connecting the Tun Sambanthan Monorail to Nu Sentral mall.

The pedestrian bridges will be completed by year-end and the mall is expected to be fully occupied by mid-next year.

MRCB corporate communications general manager Mohaini Mohd Yusof said the aim was to provide safe, seamless travel for the commuters.

"Once the bridge is completed, the commuters would not have to walk across the busy Jalan Tun Sambathan to get to KL Sentral. There will also be escalators and lifts in the monorail station for commuters to get across to KL Sentral," she said.

Mohaini said they were also in the midst of constructing an escalator leading down to the lower deck of KL Sentral, where the Rapid KL and Skybus (LCCT) are located.

"We already have an escalator for commuters to travel up to the main hall, and we will be installing an escalator that travels down, which will be completed at the end of the year," she said.

KL Sentral also provides services for the disabled who are unable to use the lift or escalators.

"We have a 24-hour porter service and we have transport available to send the disabled down to the lower deck. We will also help them board the bus," she said.

Mohaini said the bazaar at the main hall of KL Sentral has been cleared for the convenience of commuters.

"We have lessened the number of kiosks here and we have cleared the bazaar. Now, commuters will not have any difficulty traversing the main hall to get to their stations," she said.

KL Sentral will also be hiring a consultant to upgrade the traffic system around the transport hub, the mall and Jalan Tun Sambanthan.

SOURCE: http://www.nst.com.my/streets/central/seamless-travelling-in-and-out-of-kl-sentral-1.284016?cache=03D163D03edding-pred-1.1176%2F%3FpFpentwage63Dp%3A%2Fhe3D03Dn63Frea-rti3D19.3D163D03edding-pred-1.1176%2F%3FpFpentwage63Dp%3A%2Fhe3D03Dn63Frea-rti3D19.111w5ii%2Fed-1.1176%2F%2F2.2525%2F2.2525%2F1.331200%3Fcache%3D03D163D03edding-pred-1.1176%2F%3FpFpentwage63Dp%3A%2Fhe3D03Dn63Frea-rti3D19.111w5ii%2Fed-1.1176%2F%3FparentPage%3D2.%2F7.2772%2F7.2772%2F7.2772%2F7.2772%2F7.27722%2F7.2772%2F7.2772%2F7.2772%2F7.2772%2F7.%3Fcache%3D03D163D03ntPage%3D2.%2F7.2772%2F7.2772%2F7.2772%2F7.2772%2F7.27722%2F7.2772%2F7.2772%2F7.2772%2F7.2772%2F7.%3Fcache%3D03D163D03edd1ng-pred-1.1176%2F%2F1.331200%2F7.180714%2F7.184764%3Fkey%3DKuala+Lumpur%2F7.177106%2F7.177106#ixzz2U4WiqBzr

(The Star) Central Market the place for antiques and collectibles

Browsing heaven: Central Market has an array of shops that sells antiques and knick-knacks.

THE word ‘antiquing’ may not be in your lexicon when thinking about Central Market but the iconic landmark houses an array of antiques, apart from selling Malaysian art, handicrafts and souvenirs.

Central Market has come a long way since its inception in 1888, built by Yap Ah Loy, the city’s Chinese Kapitan.

The building has transcended from a wet market into an award-winning tourist attraction, winning the Fiabci Malaysia Property Award in the “Heritage” Category last year, in addition to other accolades and recognition throughout the years.

At a recent tour of the place, complex manager Cheong Wai Mun explained that renovations that took place in 2004 after Kha Seng Group took over, was aimed at making shopping more convenient for visitors.

The result was a neater and organised shopping experience that enabled visitors to shop and browse with ease.

The prominent landmark houses a range of stores, kiosks and activities that caters to varied interests, reflected from a fish spa, Annexe Gallery, performances and food and beverage kiosks in the vicinity.

An area to discover hidden gems is The Blue Mansion, a platform within Central Market that sells a variety of antiques.

J.B. Heritage of the Orient Sdn Bhd owner Jehan Begum Mougin sells antiques ranging from porcelains to pashminas from countries such as Myanmar, Cambodia, Afghanistan and Malaysia.

Jonker style: A shop with Baba-Nyonya-inspired architecture.

Jehan, who studied art history, has been a tenant in Central Market for the past three years.

Her antiques are popular among locals and tourists.

Visitors to her store will see antiques dating as far back as the 18th century.

“Every piece in this store comes with a certificate,” said Jehan.

She specialises in Islamic art. Her store sells a motley assortment of Malay anklets, ceramic bowls from Afghanistan, porcelains from China, among others.

Another tenant who sells antiques is Victor C.P. Tan, owner of Kota Pinang Enter-prise.

Tan is enthusiastic about selling antiques and collectibles.

He enjoys educating his customers about the difference between the two and learns about antiquing from reading books.

“It is important to know what you are collecting and the background story,” he said.

Crank it up: Tan, with an antique gramophone, which does not require electricity to run.

Tan said old Coca-Cola glass bottles are popular collectibles among the young. His store offers items such as foreign coins, gramophones and knick-knacks.

He travels approximately once a month within Malaysia to search for antiques.

“I sometimes source for my customers. I personally handpick all things in the store myself,” said Tan.

Central Market has been segregated into several zones that highlight Malaysia’s three main races.

They include Lorong Melayu, Lorong Cina and Lorong India, which give tourists an insight into Malaysia’s cultural diversity.

Adding to the richness of Central Market are the details that lie within. Visitors should take note of architectural details such as the flooring, roofs and lanterns, along each zone as they replicate motifs and designs of prominent Malaysian culture and heritage that has been around for many years.

Food enthusiasts can find a special lane called Lorong Kelapa, which sells a variety of Malay snacks such as keropok and kuih.

A Batik Emporium houses batik prints sewn into clothes, bags, home accessories, among others.

Their Rumah Melayu gives visitors a feel of the olden Malay kampung house while Malacca Jonker Street provides an ambience of Baba-Nyonya-inspired architecture.

Art lovers can find an eclectic array of art, located at the back of the building. Many businesses survive through reinvention. Central Market validates that old buildings can be transformed while still maintaining its charm from the past, and still prove to be relevant in today’s time.

Tucked in the heart of Kuala Lumpur, Central Market is within walking distance of Pasar Seni and Masjid Jamek LRT stations.

For more information, visit www.centralmarket.com.my.

Source: The Star http://thestar.com.my/metro/story.asp?file=/2013/5/22/central/13135089&sec=central