NEWS: Construction sector grew over 20% in 2Q2024, spearheaded by the buoyant performance of the civil engineering and residential buildings sub-sectors. NEWS: PM Anwar has instructed the Federal Territories Department and DBKL to incorporate affordable Madani housing blocks in every new residential project. NEWS: Government ordered to transfer 263.27-acre "Duta Enclave" to Semantan Estate (1952) Sdn Bhd liquidators. NEWS: Yong Tai Bhd is selling its 5-star hotel Courtyard by Marriott Melaka for RM160 million to Southern Envoy Sdn Bhd. NEWS: Construction work on the Light Rail Transit 3 (LRT3) from Bandar Utama to Johan Setia in Selangor has reached 95.6% and the line is expected to be operational in 3Q2025. NEWS: Avaland Bhd topped out Alira Subang Jaya, a serviced residence in Metropark, Subang Jaya, which has achieved a 95% take-up rate, on July 29. NEWS: Construction company TCS Group Holdings Bhd has secured a RM130.15 million contract to undertake construction of the 630-unit Arcadia Residences serviced apartments at Bandar Saujana Putra, Selangor in a related party transaction. NEWS: Bursa Malaysia Bhd will only move its “front office” to TRX, not its entire operation, according to its chairman Tan Sri Abdul Wahid Omar. NEWS: IOI Properties Group Bhd is acquiring the 7-storey Tropicana Gardens Mall in Kota Damansara, Petaling Jaya for RM680 million from Tropicana Corp Bhd. NEWS: International tourist arrivals in Malaysia have increased significantly this year, with 9.48 million visitors as of May 2024 compared to 7.48 million tourists in the same period last year. NEWS: NCT Group announced the topping out of the remaining two towers of its Grand Ion Majestic (GIM), a RM1.6 billion three-tower mixed development located in Genting Highlands, Pahang.
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RentHouz Blog

Disclaimer: All writings here are of personal opinions only. The information provided herein is not to be construed as an investment advice.

 

TikTok Shop Malaysia Top Seller July 2024

  • TikTok App’s Malaysia monthly users have exceeded 25.6 million.
  • The growing popularity in TikTok (across all ages in fact!) has created a trend of “Shopper-tainment” where ecommerce shopping goes alongside with creative content creation and popular social media culture.
  • Here’s the Top 10 merchants and sellers on TikTok Shop Malaysia in the month of July 2024:
  • Skintific Malaysia : RM12.85 mil
  • ELGINI Malaysia : RM10.41 mil
  • Panda Eyes : RM7.25 mil
  • Glad2Glow.my : RM3.90 mil
  • kakell.my : RM3.34 mil
  • Easyonline : RM3.16 mil
  • elianto.my : RM2.97 mil
  • cosrx.my : RM2.79 mil
  • Masdora Jewellery Store : RM2.64 mil
  • khairulamingbrand : RM2.54 mil.
  • TikTok video was posted on August 17, 2024.

World’s No.3 Electric Vehicle Brand

  • Almost everyone will refer top EV auto brands as BYD and Tesla. Does anyone know GAC Aion? It has arrived in Malaysia recently.
  • GAC Aion is the world’s and China’s no.3 EV brand by total EV sales in FY2023. This is the “Bronze” medallist in the EV world.
  • It is owned by carmaker GAC, China’s 5th largest auto.
  • It produces 2 brands – Aion and a smaller brand Hyper, and another joint venture brand Hycan with NIO.
  • GAC Aion Y Plus will be its first model to be offered for the Malaysia market.
  • Two pricing options: RM119,800 for the Elite variant and RM135,800 for the Premium variant.
  • Local distributor is Warisan TC Holdings Bhd, which is a sister company of Tan Chong Motor Holdings Bhd.
  • Early adopters of GAC Aion will be able to receive Outdoor Adventure Lifestyle Set – a camping set, or the Me Time Mobile Theatre Set portable projector that comes with the car.
  • Indeed, EV is about adopting a trendy Lifestyle, not just about caring for the environment.
  • GAC Aion will open a large manufacturing plant (200,000 units pa) in Thailand next week, within just a week of BYD’s plant opening.
  • It has formed a joint venture with PT Indomobil Group to build a manufacturing plant in Indonesia (initially 100,000 units pa). Currently, BYD is also building a plant there targeted to open in 2026.
  • Other than BYD, the competition for EV market share is pretty much a “cut throat” affair in China.
  • The intense geopolitics and tariff hikes in US and EU will push China’s top 50 EV brands to flood the increasingly important Southeast Asia markets, including Malaysia.
  • Note: EV – electric vehicles typically includes plug-in hybrids (PHEV) and battery EV (BEV). EV is also known as NEV – new energy vehicles in China, or the increasingly popular term, ZEV – zero emissions vehicles.
  • TikTok video was posted on July 11, 2024.

 

Blackrock has been in Malaysia for 2 decades

  • Recently, alot was said about BlackRock’s involvement in Malaysia Airports Holdings Berhad (MAHB).
  • MAHB manages 39 airports in Malaysia, including 5 international airports; plus another 1 international airport in Istanbul, Turkiye.
  • New York-based Global Infrastructure Partners (GIP) was said to be chosen as part of a Consortium to privatize MAHB. The Consortium called “GDA” includes Khazanah owning 40%, KWSP owning 30%, and the balance 30% by GIP Aurea.
  • GIP Aurea will be owned by GIP 83.33% and ADIA 16.67%. ADIA is Abu Dhabi Investment Authority.
  • So GIP’s effective stake in GDA is 83.33% x 30% = 25%. Khazanah and KWSP would have raised their stake in MAHB from 41% to 70% – which is a controlling stake in a soon-to-be private company under the care of the Government instead of it currently a listed company with many minority shareholders.
  • GIP Aurea coming into GDA now is merely acquiring the public shares portion of MAHB.
  • GDA has offered a whopping RM11 per share. Safe to say, GIP does not acquire shares directly from Khazanah or KWSP to dilute their portion.
  • The deal will value MAHB at around RM12.3 billion.
  • Despite MAHB is profitable, it still does not have the financial muscle to upgrade its 40 airports. So it needs a strong money backer and GIP was selected as it could co-own with Govt and agreed to retain Malaysian leadership.
  • Discussion to form GDA was initiated as early as 2022 and the decision to include GIP made in 2023.
  • In early Jan 2024, BlackRock says it was acquiring GIP. That was how BlackRock suddenly came into the picture.
  • TikTok video was posted on June 26, 2024.

 

Proton e.Mas : Zero Emission Car

  • So yesterday, Proton launched its upcoming battery-EV Brand called Proton eMas (stylised as Proton e.Mas). It was reported that eMas’ first model will be a Compact SUV based on Geely Galaxy E5 (pic) as it has been developed for Right-Hand-Drive (RHD) markets from the start.
  • The new logo has been tweaked a little bit with two openings to the circle ring on the left and right side. The e.Mas name has been repurposed from Proton Emas concept of hybrid cars that was unveiled in 2010 Geneva Motor Show. Proton Emas obviously didn’t take off.
  • Proton says it will launch 5 new EV models using the GEA and GMA platforms under the eMas brand. The first model could be previewed in December 2024 rumoured to be priced around RM90k for the lowest spec. Obviously Galaxy E5 will have to be trimmed a bit to lower down the cost.
  • Proton will also develop a Proton e.Mas Super App to improve and enhance customer experiences. The App will operate and manage various functionalities in e.Mas. The App also features real-time information for public EV Charging Points of 7 leading operators under a single platform.
  • If major specs would to follow the Galaxy E5, I expect the e.Mas to come with LFP Battery – which is touted as safer and less flammable than the traditional nickel-dominated lithium-ion battery.
  • Also expect pop-out door handle, large centre touchscreen, a single electric motor of 160kW, an estimated CLTC range 440km and 530km.
  • TikTok video was posted on June 13, 2024.

 

Google investing in Malaysia, Great!

  • Google, the unit of Alphabet Inc., said today it will invest US$2 billion (roughly RM9.4 billion) in Malaysia to develop its first Data Centre and Google Cloud Region in the country. This is the latest in a wave of expansion by global technology firms into Southeast Asia.
  • Malaysia said that Google will support 26,500 jobs across various sectors — including in healthcare, education, and finance — with a projected total economic impact valued at RM15.04 billion.
  • The site will be located at Sime Darby Property’s Elmina Business Park in Sg Buloh, outside of Kuala Lumpur city centre.
  • Malaysia is the third country in ASEAN to host a Google Cloud Region. A Google Cloud Region means local enterprises, startups, and public sector organizations will be able to run their Google Cloud workload at low latency right here in the country.
  • The huge data centre will power Google’s popular digital services such as Search, Maps, and Workspace, while also playing an essential role in enabling Google to deliver the benefits of artificial intelligence (Al) to users in the country.
  • More than 24 million Malaysians (~70%) had Youtube accounts.
  • Last week Gamuda Bhd had won a RM1.74 billion tender contract to build a hyperscale data centre in Elmina for the landowner Sime Darby Property. The centre will be leased to Pearl Computing Malaysia (Raiden APAC) for 20 years.
  • TikTok video was posted on May 30, 2024.

 

Local Joints Became KFC Replacement?

  • DarSa Fried Chicken (DFC) recently became popular with its first shop establishment already opened in Bukit Beruntung. It claimed to be 100% Bumiputera-owned business. Its CEO is Ustaz Mohammad Faiz Zuhdi (centre).
  • Another local joint with a similar name is called DSara Fried Chicken. Its founder is Syarifudin Omar. It currently has 10 shop outlets – 3 in Terengganu, 1 in Kelantan, and 2 each in Kedah, Perak and Pahang.
  • Muiz Hot Chicken has also opened its first shop outlet in Muar, Johor recently. It was founded by Muhamad Muizzuddin bin Remle in 2015 with RM800 capital, and by 2022, it has franchised to 140 kiosks and food trucks nationwide.
  • Another newcomer to join the localized fried chicken business is Ayam Goreng Mekyam which opened on 1 March 2024. It is based in Pasir Mas, Kelantan.
  • Dina Fried Chicken in Chukai, Kemaman Area, Terengganu has been around since 2014. Another chain which specializes in peri-peri and crispy chicken is Chicken Royale, founded by Mohd Nazri Md Akim. Have you tried any of these Fried Chicken outlets?
  • Lim Fried Chicken, or LFC, was founded in 1983. It is a family business that also served nasi lemak, chee cheong fun, and sambal sotong rice. It has 10 outlets todate in KL/Selangor, and its centralised kitchen has been Halal-certified by Jakim.
  • Hot Bird. Fiery hot as they said, it claimed to be Malaysia’s first Nashville-styled hot chicken with 6 spicy levels. It is a Muslim-friendly restaurant with 2 outlets located in Damansara Utama and SS15 Subang Jaya.
  • Last but not least, a tribute to Malaysia’s longtime homegrown fastfood chain, Marrybrown. It was founded by Dato Lawrence Liew and Datin Nancy Chan in 1981. Their son Joshua Liew is now the CEO. It has 229+ outlets in Malaysia and many more spread across 19 countries.
  • TikTok video was posted on May 20, 2024.

 

ASEAN’s First Ladies

  • This lady is Loo Tze Lui, the wife of Singapore’s 4th PM Lawrence Wong. After yesterday’s event, netizens say she looked like a “Korean Actress”. She works in wealth management and the couple had no children. Today we take a look at Spouses of ASEAN leaders…
  • Wan Azizah binti Wan Ismail was called the “Reformasi Woman” who fought against the establishment for over 20 years for justice and the political lifeline of Malaysia PM Anwar Ibrahim. She served as the first PKR President and handed over to him after he was released from prison.
  • Ibu Iriana is the First Lady of Indonesia. Reports have emerged that she was the driving force and mastermind behind one of the couple’s son, Gibran Rakabuming Raka, to become Vice President-elect of Indonesia. Some claimed that this will continue Jokowi’s legacy.
  • Louise Araneta Marcos was the Lady behind her husband’s bid for Presidency. Subsequently, Bongbong Marcos won the election in 2022 with the highest margin in modern times. He went from a disgraced dictator’s son to President.
  • Dr Pakpilai Thavisin is a renowned anti-ageing medicine guru. She currently serves as a specialist at Bumrungrad International Hospital’s VitalLife Scientific Wellness Center. In 1989, she married former real estate businessman who became Thai PM, Srettha Thavisin.
  • TikTok video was posted on May 16, 2024.

 

TikTok : Over 17 Million Malaysians In It

  • A short while ago I stopped by at TikTok Malaysia’s office in Kuala Lumpur. Full of youngsters, anyone wants a job? Before this, I didn’t know they got an office here. Here’s a story about TikTok…
  • TikTok was developed by ByteDance Ltd. In 2012, Zhang Yiming and Liang Rubo started a Beijing property portal which led to the founding of Toutiao news app. This led to the launch of video app Douyin in 2016.
  • Through various mergers, it finally launched TikTok globally in 2018.
  • TikTok became a global success with over 2.05 billion registered users and over 1 billion monthly active users. Its algorithm technology drives content creation to a new level, well-loved by Gen Z-ers all around the world.
  • TikToker Khaby Lame (pic) has 162 million followers.
  • As TikTok grew, it also drew countless controversies. ByteDance has been asked to sell off TikTok in the US or face a complete ban.
  • Douyin is China’s TikTok, therefore TikTok was never been made available for China. Some countries have a blanket ban on TikTok such as India.
  • TikTok is the 3rd most downloaded app in Malaysia. Its ecommerce arm, TikTok Shop, is quickly rising threatening Shopee and Lazada.
  • Malaysia is TikTok Shop’s 4th largest market worldwide today, with all top 4 countries in Southeast Asia.
  • Khairul Aming (pic): imagine RM1.2 million “LIVE” streaming sales generated in 3.39mins.
  • Besides TikTok, ByteDance also owns other apps such as CapCut, Lemon8, ~40 apps worldwide.
  • ByteDance is the world’s most valuable startup worth US$225 billion and Yiming is China’s 2nd richest man. ByteDance’s VR headset PICO first MY flagship store in Sunway Pyramid (pic).
  • TikTok video was posted on May 15, 2024.

 

Kopi oh Kopi, Malaysians supporting local coffee Chains

  • With more than 470+ outlets, ZUS Coffee is probably the largest coffee chain in Malaysia.
  • Founded in 2019, the homegrown brand has served over 50 million cups of coffee and has over 3.9 million mobile app downloads (Top 5 in App Store rankings).
  • ZUS Coffee is profitable (FY2023 Revenue: >RM204 million) and is now expanding in the Philippines with over 20+ outlets. One thing distinctive about ZUS Coffee is that it sells coffee with an App and it focuses on-the-go coffee rather than a café lifestyle and real estate experience.
  • Another local competitor is Gigi Coffee which has more than 160 outlets today. It was founded in 2019 and in 2020, it opened an outlet in Seoul, South Korea. Both ZUS and Gigi have challenged the dominance of Starbucks and Coffee Bean.
  • Founded by Muhd Zamry Abu Samah, Richiamo Coffee has roughly 151 outlets nationwide. In February this year, it ventured into the mini market business with Richiamo Mart.
  • Inspired by the Malayan sun bear, Loob Holding Sdn Bhd is expanding its Bask bear coffee network to over 104 outlets. Loob Holding is the owner of Tealive bubble tea chain in 8 countries today.
  • Others like HWC Coffee (from Taiwan) has 56 outlets, San Francisco Coffee with 51 outlets, Nasken Coffee has 35 outlets, and specialty coffees such as Kenny Hills Bakers, Eight Ounce Coffee, etc.
  • Other localized chains include Kee Nguyễn VIetnamese Coffee (52 outlets), Kaw Kaw Pakkopi, Kopi Saigon (39 outlets), Kopi Surat Cinta, Mukarami Coffee, Koppiku (3 outlets), Kopi Dua Darjat (various roadside stalls), and others.
  • Since 2017, SF Coffee was owned by Singapore-based owners of Texas Chicken Malaysia.
  • Foreign chains such as Gloria Jeans Coffee (Australia), Costa Coffee (UK), Kenangan Coffee (Indonesia), and Cotti Coffee (China) have arrived in Malaysia. I am expecting China’s Luckin Coffee too. [Confirmed entering the Malaysia market with a news report dated on June 21, 2024]
  • Of all these local and foreign chains, which Kopi you like the most?
  • TikTok video was posted on May 13, 2024.

 

Amazon AWS is now in Malaysia

  • On Wednesday evening, I had a chance to visit the office of Amazon Web Services (AWS) in KL. It was my first time going to a Big Tech office in Malaysia. I was attending a monthly startup network gathering.
  • In March 2023, AWS announced that it will invest RM25.5 billion over 15 years for a new “Region” in MY.
  • This would further equip local startups, corporations, and government agencies with cloud and AI infra, hence accelerate the transformation and creation of innovative digital services.
  • An AWS Region is a physical location where data centres are clustered. Within each Region is a minimum of 3 separate availability zones where each zone has its own power, cooling and security. This enables local data to be stored securely locally within Malaysia, among other advantages.
  • AWS is Amazon’s cloud computing division and contributed ~16% of Amazon’s annual revenue. It is the world’s largest cloud service provider, accounting for 31% of total cloud spending, according to a global tech report.
  • AWS has opened a similar Region in Indonesia in Dec 2021 and in Singapore in 2010.
  • In 2022, AWS announced that it will launch a similar Region in Thailand.
  • On 7 May 2024, AWS said it will further invest US$8.88 billion in Singapore to expand its cloud and AI capabilities.
  • TikTok video was posted on May 9, 2024.

 

Looks like Perodua Axia? This is an EV Car!

  • China EV startup brand Leapmotor is set to enter the Malaysia market this year with an affordable electric city car – the T03.
  • It will be assembled locally by European automaker Stellantis. Prices have not been confirmed but possibly if RM100k, will you buy?
  • The T03 has dimensions of 3620/1652/1605mm and a wheelbase of 2400mm. In comparison, BYD Dolphin is 4290/ 1770/1570mm and a wheelbase of 2700mm.
  • Price range in China is RMB 49,900-89,900 (US$6,900-12,425), three battery options: 21.6kWh, 31.9kWh, and 41.3 kWh, est. range of 200km to 403km.
  • In 2023, Stellantis, the world’s 4th largest automaker by sales, took a 21% stake in Leapmotor. It formed a 51:49 joint venture to manufacture and export Leapmotor EVs outside of China.
  • Earlier in 2021, Stellantis acquired Naza Auto’s manufacturing plant in Gurun, Kedah, Malaysia. The automaker will use the assembly hub for Peugeot, Citroen, Jeep, as well as Leapmotor catering to the ASEAN region.
  • Leapmotor was founded in 2015 in Hangzhou, China by CEO Zhu Jiangming and wife, and has been selling EVs in China since 2018. It was listed in Hong Kong in September 2022. Ranked No.10 by NEV retail sales, Leapmotor delivered 144,155 vehicles in 2023, up 29.67% from previous year.
  • Besides the T03, Leapmotor also has other models, namely the C10 and C11 electric crossover SUVs, and C01 electric sedan (pic).
  • Last week, Leapmotor unveiled the C16, a luxury 6-seater crossover between MPV and SUV. It will likely launch the C10 SUV in Malaysia after T03.
  • TikTok video was posted on May 7, 2024.

 

Too many malls in KL, but an Old Charm survived!

  • Today I visited this mall to park my car due to an appointment nearby. It is called Pearl Point Shopping Mall at Jalan Klang Lama, Kuala Lumpur. Open parking in Old Klang Road Area is limited and cars parked indiscriminately. Chaotic!
  • Built in 1999 together with The Pearl KL Hotel, it was my second time here. But it is my first time here since the mall underwent a major renovation in July 2021 to Sep 2022. Surprise. The mall has completely changed to an ‘Atas’ ambience!
  • Many new tenants have opened. Jaya Grocer anchored Pearl Point while B.I.G. anchored Pearl Suria, the extension side of Pearl Point across the road linked by a pedestrian bridge. This is maybe the biggest Mixue kiosk store that I have seen.
  • The situation in Starbucks during lunch hour. Not assuming anything, maybe it is a quiet day. McD was busy though, and it is a unique Car Drive-Thru outlet within a shopping mall.
  • Nevertheless, Pearl Point is a neighbourhood mall situated a stone’s throw away from Mid Valley City (about 10mins distance).
  • Back in 2022, the serviced apartments atop Pearl Suria were asking between RM850~RM920 per sq ft in the subsale/secondary market. Highest in OKR Area.
  • Nearby Pearl Point is an abandoned-looking building called Lucky Plaza Bandar Park. The former mall home to Central Hypermarket had ceased operations in 2013.
  • It was reported that its Singaporean owner had wanted to redevelop the site into hotel or condos or medical suites.
  • TikTok video was posted on May 6, 2024.

 

The Story of bubble tea Mixue

  • I like Mixue and here its lemonade only cost me RM3.00. Here’s a story of Mixue…
  • In 1997, Zhang Hongchao (pic) and brother Hongfu started an iced drink street-stall called “Mi Xue” in the city of Zhengzhou, China. It failed.
  • He kept going with many attempts until in 2003, he opened a stall inside an abandoned factory near a school. It quickly became a hit with students.
  • In 2007, he was able to franchise Mixue to other locations in China. Mixue became known as a mass market bubble tea famous for its affordable soft serve ice cream and lemonade. The siblings became USD Billionaires early this year – 2024.
  • As at September 30, 2023, Mixue Group had 32,180 outlets in Greater China and as many as 3,973 overseas outlets. Mixue is now present in Australia and every country in East Asia including Malaysia 🇲🇾, except North Korea, Brunei, Timor Leste, and Myanmar.
  • Interestingly as a F&B retailer, Mixue also produces its own supplies. It operates 5 production hubs in China. It makes proprietory syrups, milk (mostly using Oat), tea, coffee, fruit processing, grains, and condiments under the Mixue brand to be used only for Mixue outlets.
  • Mixue’s business model is as such: 99% are franchised, 100% ingredients from HQ, and 70% non-ingredients from HQ.
  • In China, Mixue owns no.4 largest fast-coffee chain Lucky Cup and operates 26 warehouses. It relied heavily on the use of social media – more than 43,000,000 followers.
  • The total franchising cost for a new Mixue outlet in Malaysia 🇲🇾 may cost RM300k or more today.
  • There are now more than 250 outlets nationwide and eventually all outlets will be Halal-certified.
  • TikTok video was posted on May 4, 2024.

 

Microsoft + AI for Southeast Asia

  • Big Techs are now flooding Our Region with investments in artificial intelligence (AI) and Cloud Computing. Global consultant Kearney estimated that AI could contribute US$1 trillion to ASEAN’s GDP by 2030. This week has been great for Southeast Asia.
  • On Tuesday, Microsoft CEO Satya Nadella said it will invest US$1.7 billion to build cloud computing and AI infrastructure in Indonesia. The company also pledged to help train 2.5 million people in Southeast Asia with AI skills, including more than 840,000 in Indonesia.
  • On Wednesday, Microsoft CEO said it will open its first Regional data centre in Thailand worth an estimated US$1 billion. The tech giant will expand the availability of hyperscale cloud and AI services, and train 100,000 people in Thailand.
  • Then on Thursday, Microsoft CEO announced a USD2.2 billion (RM10.5 billion) investment in Malaysia over the next 4 years to develop cloud computing and AI infrastructure in Malaysia. Microsoft will give AI training to more than 200,000 people in Malaysia.
  • Interestingly, Microsoft said more than 600,000 developers in Malaysia used the Microsoft-owned coding platform GitHub platform in 2023. This is a 28% annual increase!
  • TikTok video was posted on May 3, 2024.

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