Note from the publisher: Raising the bar for real estate excellence

Sime Darby Property Bhd (KL:SIMEPROP) took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA). This is the second time it has done so, the first time being in 2009. It was also the joint winner of the Best in Qualitative Attributes sub-award this year.

Sime Darby Property takes top spot at The Edge Malaysia Top Property Developers Awards 2024

From self-proclaimed tree hugger to key driver of Malaysia’s top property development company, Datuk Seri Azmir Merican is not your typical bricks-and-mortar guy.

TEPEA commentary: Malaysia’s best of the best

After 15 years, Sime Darby Property Bhd (SDP) has reclaimed the coveted title of Malaysia’s top property developer. The last time the company lifted the crown was in 2009.

Top Property Developers Awards judges’ comments

The Edge Malaysia-PAM Green Excellence Award debuted 14 years ago to recognise green buildings with outstanding and exemplary attributes beyond those embraced for formal green building certification.

The Edge Malaysia-PAM Green Excellence Award 2024 Judges - Judges’ citation

When Covid-19 struck in late 2019 and early 2020, the local building and construction industry was in a quandary, grappling with the rising cost of doing business and burdened by escalating land and construction material prices. Buyers were increasingly cautious and affordability a major issue. Developers were also pressured by high unsold inventories.

The Edge Malaysia-PEPS Value Creation Excellence Award 2024 Judges - Judges’ citation

The Edge Malaysia Affordable Urban Housing Excellence Award was launched 10 years ago to recognise outstanding, affordably priced urban homes. Through the award, we are encouraging developers to build outside the box.

The Edge Malaysia Affordable Urban Housing Excellence Award 2024 Judges - Judges’ citation

The Edge Malaysia Property Excellence Awards, introduced in 2010, initially comprised anchor award The Edge Malaysia Top Property Developers Awards, and two other sub-awards, namely The Edge Malaysia-PEPS Value Creation Excellence Award and The Edge Malaysia-PAM Green Excellence Award. They were subsequently expanded to include The Edge Malaysia Affordable Urban Housing Excellence Award, The Edge Malaysia Outstanding Contribution to the Real Estate Industry Award, The Edge Malaysia Outstanding Property CEO Award, The Edge Malaysia Outstanding Property Entrepreneur Award, The Edge Malaysia Outstanding Overseas Project Award and The Edge Malaysia Property Development Excellence Award.

Other awards

The Edge Malaysia Property Excellence Awards (TEPEA) recognises and celebrates the collective success of developers and their contribution to providing a roof over our heads — as a home, workplace and community space.

Crafting the TEPEA commemorative plate

The year is looking good for Sime Darby Property Bhd (KL:SIME­PROP). After achieving record-high revenue and operating profit — since its demerger in 2017 — of RM3.4 billion and RM606.4 million respectively in FY2023, ended Dec 31, the group has chalked up its strongest nine-month performance to date for the period ended Sept 30 with a 35% increase in revenue to RM3.27 billion, while operating profit grew 51% to RM729.5 million.

On a transformation trajectory

Tan Sri Eddy Chen is someone who truly embodies humility and approachability. Dressed in his signature white button-down shirt with rolled-up sleeves, which he once jokingly called his uniform, Chen greets City & Country with a warm smile.

A lifelong commitment to excellence in real estate

City & Country met up with Datuk Jeffrey Ng, a well-liked veteran in the real estate industry, at Wisma Rehda in Petaling Jaya for a photoshoot and interview, as Ng is a recipient of the Outstanding Contribution to the Real Estate Industry award at The Edge Malaysia Property Excellence Awards 2024.

Building on a legacy of knowledge

Datuk Seri Fateh Iskandar Mohamed Mansor (F D Iskandar), group managing director and CEO of Glomac Bhd (KL:GLOMAC), has built a reputation for being a tireless advocate of Malaysia’s real estate sector. With a career spanning more than 35 years, his passion for property development and drive to lift the industry have seen him at the helm of numerous industry bodies and initiatives aimed at shaping the country’s property landscape.

For the betterment of the industry

When Tengku Datuk Ab Aziz Tengku Mahmud was appointed to lead the 40-acre mixed-use Merdeka 118 precinct development project in 2010, the new role came naturally to him following his years of experience in leading property divisions at various companies before that.

Taking on a nationally significant landmark project

The family of Thai businessman Vichai Srivaddhanaprabha, who died in a helicopter crash in 2018, has brought a legal action against Italian helicopter manufacturer Leonardo SpA in a London court valued at £2.15 billion (US$2.65 billion).

Family of Thai tycoon brings US$2.7b claim against Leonardo over Leicester City crash

The German government is in ongoing discussions about whether to delete its presence on the X platform due to concerns over its algorithms, a spokesperson said on Friday.

Germany may yet quit X on concerns over algorithms — Reuters

After more than a decade of development, hype and pent-up demand, Jeff Bezos’ aerospace venture Blue Origin will at long last attempt to put a rocket into orbit.

New Glenn, originally intended to launch as early as 2020, is slated to fly on Sunday out of Cape Canaveral, Florida, during a nearly four-hour launch window that begins at 1am local time.

Jeff Bezos’ Blue Origin to debut new rocket in SpaceX challenge

Nato is increasing its surveillance operations in the Baltic Sea region with two ships deployed to the area following suspected sabotage of undersea cables between Finland and Estonia.

Nato to deploy two ships to guard Baltic Sea infrastructure

Walgreens Boots Alliance Inc reported quarterly results that surpassed Wall Street’s expectations, easing pressure on the pharmacy chain as it mulls strategic options including a sale.

Walgreens sales at US pharmacies beat expectations

Economists predict that Malaysia's industrial production output will maintain its positive growth in the coming months, driven by increasing demand, though they remained cautious about potential headwinds arising from growing protectionist policies around the world.

Economists expect Malaysia's industrial output growth to maintain uptrend after November's acceleration

Canada is drawing up plans for extensive tariffs against US products if Donald Trump follows through on his threat to put 25% levies on Canadian goods, according to people familiar with the matter.

Canada plots broad tariff retaliation if Trump starts trade war, Bloomberg reports

EVENING 5: No royal addendum in Pardons Board records

South Korean conglomerate SK Group plans to sell about a fifth of its holding in Vietnam's Vingroup starting from next week, a Vingroup filing showed on Friday.

Vingroup's main foreign investor SK Group to sell part of its stake 

Deutsche Bank AG has changed the way it judges staff this bonus season, with a greater range of performance ratings and more weight given to non-financial aspects, such as teamwork. 

The German lender now has five ratings for employees, up from three, people familiar with the matter said. While the new criteria won’t affect the overall size of the bonus pool, they could mean changes for individual pay, they said, asking not to be identified discussing the private information.

Deutsche Bank tweaks bonuses to emphasise metrics like 'teamwork'

Berjaya Group is seeking a new partner as it bids for a proposed multibillion-dollar high-speed rail (HSR) line between Kuala Lumpur and Singapore, after Malaysian Resources Corp Bhd (KL:MRCB) withdrew from the consortium, Berjaya Corporation Bhd (KL:BJCORP)&nbsp;founder Tan Sri Vincent Tan Chee Yioun Chiun said.

Berjaya's Vincent Tan seeks new partner in KL-Singapore HSR bid

Former prime minister Datuk Seri Najib Razak was visibly shaken on Friday as the prosecution attacked his defence testimony with an onslaught of questions on the infamous ‘donation’ from Saudi royalty.

Najib visibly shaken as prosecution attacks his inconsistencies over 'donation' details

Oriental Kopi Holdings Bhd (KL:KOPI) could deliver a strong share price gain with above-peer valuations backed by robust earnings growth, according to two research houses starting coverage of the soon-to-be-listed café operator.

Oriental Kopi may deliver strong share price gain after IPO; Apex, Tradeview start coverage with ‘buy’

Tenaga Nasional Bhd or TNB (KL:TENAGA) said its indirectly wholly owned unit TNB Western Energy Bhd (TNB WE) has been slapped with an income tax bill amounting to RM291.55 million for the year of assessment 2018 from the Inland Revenue Board (IRB).

Tenaga Nasional unit gets additional RM292m tax bill

Gamuda Land and Public Bank Bhd (KL:PBBANK) have introduced Malaysia’s first flexible 120% home financing package, the PB SmartLiving scheme, offering new levels of accessibility and affordability for homebuyers.

Gamuda Land, Public Bank unveil Malaysia's first 120% home financing plan

Shares of Gamuda Bhd (KL:GAMUDA) could potentially climb as much as 62% from the last price if its market value catches up with the size of its order book, CGS International said on Friday.

Gamuda share price could trade over RM8 if market value catches up with order book — CGS

Risks are building up towards an earlier rate hike due to Malaysia's removal of RON95 petrol subsidies, according to BMI, a Fitch Solutions company, though it officially forecasts the rate to remain unchanged this year.

BMI says Malaysia's planned RON95 subsidy removal heightens rate hike risk, but keeps OPR target at 3%

The secretariat for the Federal Territories&nbsp;Pardons Board has denied the existence of any additional document or royal addendum in its official files or records that purportedly allows former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence under house arrest.

No royal addendum for Najib's house arrest in Pardons Board's records, says secretariat

The US restriction of artificial intelligence (AI) chip exports may lead to a sector-wide slowdown, affecting the entire supply chain in the semiconductor industry, according to RHB Investment Bank.

US AI chip export curbs may lead to sector-wide slowdown — analysts

U Mobile Sdn Bhd, the nation’s newly selected second 5G network access provider, is set to deploy between 5,000 and 7,000 5G sites across Malaysia, according to industry sources cited by RHB Research.

U Mobile set to deploy up to 7,000 5G sites across Malaysia, RHB says, citing sources

Nvidia Corp criticised new chip export restrictions that are expected to be announced soon, saying the White House was trying to undercut the incoming Trump administration by imposing last-minute rules.

Nvidia slams Biden for trying to ‘pre-empt’ Trump with policy

Sime Darby Property Bhd (KL:SIMEPROP) said on Friday it has fully acquired two modern double-storey logistics warehouses in Bandar Bukit Raja, Selangor for RM232 million.

Sime Darby Property fully acquires Bandar Bukit Raja warehouses for RM232 mil

Malaysia’s national oil and gas company Petroliam Nasional Bhd (Petronas) has reached the final investment decision for the development of the Hidayah field offshore East Java, Indonesia.

Petronas reaches final investment decision to develop Hidayah field off Indonesia

Despite being known as a consummate gentleman, Datuk Seri Najib Razak told the High Court here on Friday that he didn't send thank-you notes or express any gesture of gratitude after receiving donations from the Arab royalty.

1MDB-Tanore: Why no thank-you note to Saudi donors? Prosecution takes aim at consummate gentleman Najib's 'bad manners'

LBS Bina Group Bhd (KL:LBS) has launched Centrum Iris, the second precinct of Cameron Centrum and the largest mixed development of commercial offerings located in Cameron Highlands, Pahang. It has a projected gross development value of RM472 million.

LBS unveils Centrum Iris in Cameron Highlands, Pahang

Despite the anticipation of incoming personal donations of substantial amounts, former prime minister Datuk Seri Najib Razak told the High Court here on Friday that he did not know how the Saudi royalty had obtained his personal bank account details.

1MDB-Tanore: Najib says unaware how Saudi donors got his account details or knew of account change

Japan's Prime Minister Shigeru Ishiba, currently on a two-day official visit to Malaysia, was accorded a formal welcoming ceremony at the Perdana Putra Complex on Friday.

Japanese PM accorded official welcome at Perdana Putra

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Japan to be involved with REE processing in Malaysia — Anwar

Prime Minister Datuk Seri Anwar Ibrahim has expressed hope that the clean hydrogen energy collaboration project between Petroliam Nasional Bhd (Petronas), Petroleum Sarawak Bhd (Petros) and Japanese companies could be facilitated by May this year.

Anwar hopes Petronas, Petros hydrogen venture can meet May deadline for facilitation

President-elect Donald Trump said a meeting with Russian President Vladimir Putin is being set up, raising the prospect that the incoming US leader could push to start negotiations to end the war in Ukraine.

At a meeting with Republican governors at Trump’s Mar-a-Lago club, the incoming president told a reporter that Putin “wants to meet” and added, “we’re gonna — we’re setting it up.” Any such meeting, were it to happen, would come after he’s inaugurated as president, Trump said.

The Edge Property Excellence Awards 2024

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The Edge Property Excellence Awards 2024

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