Five Newsbytes to Start The Day – 4 June 2019

Recruitment firm reveals what jobs in high demand as Malaysia’s banks go digital
Talents who can handle technology and big data are in demand as more Malaysian banking and financial services make the digital shift, recruitment firm Hays said. It noted that the digital push has impacted all aspects of the local banking and financial services sector, ranging from product development to contact centres and compliance departments. Banks are looking to compete with firms that provide digital financial services, with network systems project managers and infrastructure applications managers being in great demand. Bank Negara Malaysia’s increased regulation and guidelines has also increased demand for professionals handling regulatory compliance work and those dealing with financial crime protection. In addition, the wealth management and private banking sectors has created demand for private bankers, relationship managers, and branch managers with experience in such areas. (Malay Mail)

Atrium REIT aims to double asset size to RM1bil in two years
Logistics asset-focused Atrium REIT is targeting to double its total asset value to RM1 billion in two years’ time and will focus on undertaking land acquisitions for greenfield projects as well as asset enhancement initiatives (AEI) going forward. The REIT is now exploring suitable land in, among others, Shah Alam and Klang, for future greenfield projects to cater for rising demand. As for AEIs, the REIT is looking at possibly upgrading its existing properties in Shah Alam into double-storey warehouses. As at end-2018, the trust’s total assets stood at RM278 million. Its total assets is expected to increase to RM458mil once its RM180mil Penang land deals are completed by end-2019. (The Edge)

MUI plans for RM440m TOD in Bandar Springhill, Seremban
Malayan United Industries Bhd (MUI) has set plans to develop an integrated transit-oriented development (TOD) in Bandar Springhill in Seremban with GDV of RM440 million. With 1,084 acres of landbank in Bandar Springhill, the company expects between 10% and 15% capital appreciation for the TOD, supported by the East Coast Rail Link’s (ECRL) two stations in Negri Sembilan, namely Kuala Kelawang and Jelebu. “We are looking to build an integrated TOD which will comprise over 600 condominium units,” MUI executive chairman and CEO Andrew Khoo Boo Yeow said. “In August, we will begin construction of a clubhouse that incorporates, amongst other things, a partially covered swimming pool, multipurpose hall, and gym at a cost of over RM5 million,” he added. Aside from Bandar Springhills, MUI has also set plans for residential developments in Penang and Kota Kinabalu, Sabah, with an estimated GDV of over RM300 million combined. (NST Online)

Shopping mall at TRX to be ready by Q3 2021
Construction for the shopping mall at Tun Razak Exchange (TRX) is expected to be completed by the third quarter of 2021. Lendlease project director for The Exchange TRX Brendan Walker said construction works of the mall – which will have a net lettable area (NLA) of 1.3 million square feet – are progressing well. “Following the retail portion, the office and hotel blocks are expected to be completed late 2021 to early 2022,” he said. The residential component will consist of six apartment blocks with a total of 2,500 units. The Exchange TRX, which will have a GDV of AU$3bil (RM9.1bil), is a 17-acre mixed-use development that comprises a hotel, campus style office, six residential towers and a large scaled retail mall crowned by a 10-acre rooftop park, as well as a purpose built MRT station. (The Star Online)

Muslims in Malaysia to celebrate Raya on Wednesday (June 5)
Muslims in Malaysia will celebrate Hari Raya Aidilfitri on Wednesday (June 5). This was announced by the Keeper of the Rulers’ Seal, Tan Sri Syed Danial Syed Ahmad. Previously, the Office of the Keeper of the Rulers’ Seal said the Conference of Rulers had consented to the determination of the date based on the rukyah (sighting of the new moon) and hisab (mathematical and astronomical calculation) methods. A total of 29 locations had been selected by officials to sight the Syawal new moon. (The Star Online)

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