MNC spending a boon for Penang developers

 

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 Demand for residential, commercial properties to grow

KUALA LUMPUR: Property developers in Penang are set to benefit from the opening of new factories by both local and multinational corporations (MNC) as well as state government projects and population growth.

In a sector report, Maybank Investment Bank Research (Maybank IB) identified S P Setia Bhd, Tambun Indah Land Bhd, IJM Corp Bhd and Eco World Development Group Bhd (EcoWorld) to be among the main beneficiaries from the growing Penang property market.

“More job opportunities have been created with the opening of more local and MNC factories and this has drawn demand for new residential and commercial properties, the former due to housing needs of the rising population base.”

The research house also pointed out that the Baru Kawan area could benefit from the Penang state government’s intention to develop a medical hub there as well as 1,156 acres within the Batu Kawan Industrial Park (BKIP) 2 in Byram, Nibong Tebal.

“These projects augur well for population growth and should continue to boost the demand for properties,” the research house noted in the report.

It added that Penang’s residential property sales rebounded strongly by 50% year-on-year in the third quarter of 2022, due to the economic recovery and despite the three overnight policy rate hikes since May 2022.

Maybank IB said S P Setia’s Setia Fontaines project in Bertam, on the Penang mainland, offers a similar eco theme as Setia Eco Park, but is more affordably priced like Setia Alam (both of which are in Shah Alam, Selangor).

“The project, which mostly offers landed properties, is expected to have a remaining development period of at least 25 to 30 years.”

Since the launch of Setia Fontaines in 2018, Maybank IB said the project has generated stable and growing sales for S P Setia.

“In 2021, Setia Fontaines contributed RM157mil sales or 4% of S P Setia’s Malaysian property sales.

“Catalysts to the project include an industrial park (850 acres) nearby, which could offer employment opportunities and attract new population to the area over the longer term.”

Separately, the research house said EcoWorld’s Eco Horizon project is strategically located in the heart of the Batu Kawan commercial area and is riding on booming job opportunities and commercial activities there.

“The property development projects in Batu Kawan have become more mature.”

Maybank IB noted that the completion of Penang’s second bridge in 2014 and the new BKIP are the game changers for the Batu Kawan area.

“Apart from its prime location, we attribute the success of Eco Horizon to right product offerings, namely landed properties versus its peers that are mostly involved in high-rise.”

“In its financial year 2022 (FY22), Eco Horizon contributed 12% to EcoWorld’s total sales,” Maybank IB noted.

Meanwhile, Maybank IB said IJM’s The Light City project in Gelugor, Penang, will be a mega integrated waterfront project comprising two towers of premium condominium units, a retail mall, offices, a convention centre and a hotel.

“The retail mall, offices, hotel rooms and convention centre are slated for completion by 2025.

“By then, we believe The Light City would reshape the commercial market of Penang island as the major commercial spaces are currently located at the north of Penang island,” it said.

It added that IJM is in advanced stages of negotiations with a hotel operator from China but is making no changes to its earnings forecasts for the group, at the moment.

Separately, Maybank IB said Tambun Indah’s Pearl City project in Simpang Ampat is a good proxy to the booming Batu Kawan area.

“Tambun Indah has been careful in launching new projects and has focused on clearing unsold stocks over the last few years.

“Its average take-up rate continued to improve to 81% as at September 2022 (from 79% as at June 2022).”

Maybank IB noted that Tambun Indah’s main products are generally affordable, landed properties. In the third quarter of this year, the company will be launching Dahlia Garden in Pearl City.

“Dahlia Garden, which has an estimated gross development value of RM107mil, will comprise residential terraces (185 units) and semi-detached houses (24 units) priced between RM470,000 to RM650,000 per unit.”

For the nine-month period of Tambun Indah’s FY22, Maybank IB estimated the developer’s locked-in property sales stood at RM133.2mil, which is 2.3% above its FY22 sales target of RM130mil.

“Tambun Indah usually has relatively lower unbilled sales (RM90mil as at end-September 2022) than its peers, as it only launches a new project when the project is 20% to 30% completed, hence it will hasten revenue recognition.” 

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Let’s aim to be fortunate

 

Dr. Wada in Japan advocates calling people over 70 years old as “fortunate people” rather than “elderly people”. He summed up the secret of 70-year-olds becoming “lucky ones” into “42 sentences”

Seniors over the age of 70 do not need regular physical examinations because the “standard of health” varies from person to person. He also said: “Don’t believe what doctors say.” This is because doctors are in contact with “patients”, so they do not understand what health is. At the same time, he also opposes the long-term use of multiple drugs by the elderly, and advocates “only take necessary drugs when necessary.” In other words, “taking medicine to prevent something” makes little sense.

According to this point of view, the elderly do not need to take sleeping pills frequently. Loss of sleep time as you age is a natural phenomenon, and no one dies from insomnia. 24 hours a day, sleep whenever you want, wake up whenever you want, this is the privilege of the elderly.

In addition, the cholesterol level that the elderly are generally worried about, even if it is high to a certain extent, there is no need to worry. Because cholesterol is the raw material for the body to generate immune cells. The more immune cells, the lower the risk of cancer in older people. in addition, part of the male hormone is also composed of cholesterol. If the cholesterol level is too low, men’s physical and mental health will be unsustainable.

Likewise, high blood pressure doesn’t matter at all. More than 50 years ago, human malnutrition was widespread. So, when blood pressure reaches around 150, the blood vessels burst. But very few people are malnourished these days, so even blood pressure over 200 won’t cause a blood vessel to burst.

Dr. Wada summed up the secret of 70-year-olds becoming “fortunate people” into “42 sentences”, as follows:

1, Keep walking

2 Take a deep breath when you feel irritable

3. Exercise so that the body does not feel stiff

4. Drink more water when the air conditioner is on in summer

5. The more you chew, the more energetic your body and brain will be

6 Memory declines not because of age, but because of long-term non-use of the brain

7. No need to take a lot of medicine

8. No need to deliberately lower blood pressure and blood sugar levels

9 Only do what you love, not what you hate

10. No matter what, don’t stay at home all the time

11. Eat whatever you want, the fat body is just right

12. Do everything meticulously

13. Don’t deal with people you hate

14. Rather than fighting the disease to the end, it is better to live with it

15. “The car must have a way to the front of the mountain” is the magic spell to make the old man happy

16 You can’t fall asleep and don’t force it

17. Doing happy things is best for boosting brain activity

18. Find a “family doctor” early

19. Don’t be overly patient or force yourself, there is nothing wrong with being a “bad old man”

20. Stop learning and you will grow old

21. Don’t be greedy for vanity, it’s good to have everything you have now

22. Innocence is the privilege of the elderly

23. The more troublesome things are, the more interesting they are

24. Do what is good for others

25. Live leisurely today

26. Desire is the source of longevity

27 Live as an optimist

28. Cheerful people will b popular.

29. The rules of life are in your own hands

30. Accept everything calmly

😇😁😂 

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China's Rise to Economic Superpower 

World Economy

As the world still grapples with supply-chain backlogs (partially) caused by China’s strict Covid-19 policies, it has become painfully obvious how vulnerable the global economy is to national or even regional disruptions, especially if they happen in China, the world’s number one supplier of goods.

Over the past few decades, China has grown to become the world’s manufacturing hub and largest goods exporter by a significant margin, turning it from emerging market into economic superpower. According to estimates from the IMF’s latest World Economic Outlook, the country will account for 18.8 percent of the world’s GDP based on purchasing power parity (PPP). That’s up from just 8.1 percent two decade ago, when both the United States and the EU were miles ahead of China’s economic output.

Over the past 20 years, both the U.S. and the European Union have seen their economic superiority challenged, as new powers, such as China, India and others have emerged. While the U.S. saw its share of global GDP decline from 19.8 to 15.8 percent between 2002 and 2022, the EU’s share dropped from 19.9 to 14.8 percent of the same period.

The gap between China, the U.S. and the EU will likely widen over the next few years, as the economic outlook for the latter two is cloudy with a chance of recession, while China is expected to continue growing at mid-single-digit growth rates.

By Felix Richter 

Felix Richter

Data Journalist

felix.richter@statista.com +49 (40) 284 841 557

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China’s economy stands out in global arena 

 

Steady trade: Workers use computer terminals to monitor remote operations at a container port in Tianjin. China has now become a major trading partner for more than 140 countries and regions, with its total trade of goods up 7.7% y-o-y in 2022, topping the world for six consecutive years. — AP 

 Annual average growth of 4.5% between 2020 and 2022, outpacing the world average of around 2%

BEIJING: In its three-year-long fight against Covid-19, China posted outstanding results in economic development and epidemic control, reinforcing its status as a leading engine for the global economy.

From 2020 to 2022, China’s economy posted an annual average growth of 4.5%, outpacing the world average of around 2%, according to Yuan Da, director of the Department of National Economy of the National Development and Reform Commission.

In 2022, the economy grew 3% year-on-year (y-o-y) to a record high of 121 trillion yuan (US$18 trillion or RM76.3 trillion), with the increment standing at 6.1 trillion yuan (RM3.8 trillion), equivalent to the economic aggregate of a medium-sized country.

It also marks a new and higher level in terms of economic aggregate after the Chinese economy topped the thresholds of 100 trillion yuan (RM62.5 trillion) and 110 trillion yuan (RM68.8 trillion) in 2020 and 2021, respectively – maintaining its position well as the world’s second-largest economy.

Analysts attributed the hard-won results to the country’s effective coordination in fighting Covid-19 and its economic fallouts simultaneously.

Thanks to effective virus control and timely pro-growth policies, China’s economy has quickly emerged from the epidemic-induced slump and consolidated its recovery momentum for a brighter outlook.

To cope with the constantly evolving epidemic situation, China has been dynamically optimising its control measures while enhancing the treatment and vaccination capacity, effectively safeguarding the lives and health of its 1.4 billion population at minimum costs.As of Jan 13, 92.9% of the Chinese population has been fully vaccinated, with more than 90% of people above 60 covered by vaccination.

With Omicron much less pathogenic and deadly, China, in December last year, announced ten new measures to lift numerous Covid-19 restrictions. On Jan 8, its management of Covid-19 was officially downgraded from Class A to Class B.

Less than one month after the optimisation of Covid-19 response measures in December 2022, China reported declining numbers of fever patients and critical Covid-19 cases as both had passed the peak. In the just-concluded Spring Festival holiday, China’s consumption made a strong comeback.

During the week-long holiday, sales revenue of China’s consumption-related sectors rose 12.2% from the same holiday period in 2022. Its cinemas sold 129 million tickets, generating a whopping revenue of 6.76 billion yuan (RM4.2bil), the second highest-grossing to date.

Wen Bin, the chief economist with China Minsheng Bank, said that warming demand at home would propel the turnaround in the Chinese economy this year and estimated the country’s full-year gross domestic product growth at around 5.5%.

Aside from the overall economic growth, China also made significant headway in maintaining consumer price stability, guaranteeing food and energy security, and improving people’s livelihoods.

In 2022, China’s consumer price index grew by 2%, a fraction of the increases reported in the United States, the eurozone and Britain. It is also lower than those of other emerging economies.

Amid a global food crisis, the country has secured a bumper harvest for the 19th year in a row, with its grain output at about 686.53 billion kg in 2022, up 0.5% from 2021.

A total of 11.86 million, 12.69 million, and 12.06 million new urban jobs were created in 2020, 2021, and 2022, respectively, all surpassing the targets set for each year.

Despite the gloomy global investment environment, China remains one of the most attractive investment destinations in the world.

Foreign direct investment in the Chinese mainland, in actual use, expanded 6.3% y-o-y to 1.23 trillion yuan (RM768.8bil) in 2022.

China has now become a major trading partner for more than 140 countries and regions, with its total trade of goods up 7.7% y-o-y in 2022, topping the world for six consecutive years.

Recently, multiple international investment banks and financial institutions, including Morgan Stanley, Goldman Sachs, HSBC, Barclays, and Natixis, have upwardly revised their forecast for China’s economic growth rate in 2023, betting on the country’s rosy prospects and strong resilience. — Xinhua

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 Father and son? Or brothers? Hong Kong actor Joe Ma (left) has been praised by netizens for his youthful appearance. Photo: Joe Ma/Instagram

Hong Kong actor Joe Ma has long been praised for his youthful looks and fit physique.

The Flying Tiger 3 star is fondly regarded as “an ageless god” among his legion of fans.

Recently, an old photo of Ma with his son Zai Xiang, 24, and wife Karen Cheung, 53, resurfaced on Weibo. The picture was taken last July at Zai Xiang’s graduation ceremony in Australia.

China Press reported that many netizens left comments praising the 54-year-old actor on how youthful he looks compared to his son, who’s 30 years younger than him.

“The son looks a lot more mature than the father,” said one netizen.

“What did Joe Ma feed his son?” another commented.

This isn’t the first time Ma’s appearance has been compared to Zai Xiang.

  

 (From left) Joe Ma with his son, Zai Xiang, 24, and wife, Karen Cheung, 53. Photo: Karen Cheung/Weibo(From left) Joe Ma with his son, Zai Xiang, 24, and wife, Karen Cheung, 53. Photo: Karen Cheung/Weibo

In 2021, the actor uploaded a photo on Instagram of him with his son on the set of TVB series, The Kwoks And What. The actor's son plays the younger version of Ma's character in the drama.

Many netizens commented saying the duo looked more like brothers rather than father-and-son.

Ma credits his youthful looks to his diet.

"I opted for a vegetarian diet and ate more whole grain food for eight months. That's how I lost weight.

"My face doesn't look bloated and my eyelids look deeper now. Plastic surgery wouldn't be able to achieve this," he told Hong Kong media in 2018.

Zai Xiang graduated with first-class honours degree in Mechanical Engineering last July in Sydney, Australia. In 2019, he reportedly signed with the same company his father is currently under, Shaw Brothers Studio. 

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