Four Seasons Place KL to open in 2015

NO RUSH: Back to drawing board to ensure a world-class end-product, source says

THE Four Seasons Place in Kuala Lumpur will open in 2015, sources say.

News of a Four Seasons being developed in the capital by two tycoons and a sultan first surfaced in 2005. In 2007, some work even began on the site, but the project has yet to see the light of day.

A source told Business Times that some developments can be anticipated within the next three months with completion expected to be three years thereafter.

The Four Seasons Place is being built by Venus Assets Sdn Bhd, a firm controlled by Ipoh-born tycoon Ong Beng Seng, Tan Sri Syed Yusof Syed Nasir and the Sultan of Selangor.

The delay was attributed to the failure of a proposed deal between Venus Assets and national oil corporation Petronas to go through and the project going back to the drawing board.

"The developer is working to ensure this product is worthy of Malaysia's image as an international tourist destination and is in line with the country's target to be a developed nation," the source said.

"The project is not being rushed, so that the end result will be a first-class product," he said.

Since the plans have gone back to the drawing board, talk is that there may even be a possibility of the Four Seasons reverting to the original plans which included two towers.

In a 2009 interview with Business Times, Syed Yusof said the building will be a single 65-storey tower. It was to include 150,000 sq ft of retail component, 150 hotel rooms and 100 serviced apartments. Another 140 serviced apartments would be for sale.

Venus Assets bought the prime 1.05ha site for RM90 million in 2003 from the estate of the late Khoo Teck Puat, the former major shareholder of Standard Chartered plc.

It was reported then that cost of construction for all the components, including land and interior design, was RM1.4 billion and the estimated gross development value (GDV) of the project was RM2.5 billion.

Should the new project have two towers, it would be safe to assume that the GDV could be well above the initial estimation of RM2.5 billion.

By Vasantha Ganesan

Swedish H&M to open first KL store this year

Swedish fashion retailer H&M Hennes & Mauritz, in its financial report released on January 26 this year, confirmed its foray into Malaysia this year.

KUALA LUMPUR: Swedish fashion retailer H&M Hennes & Mauritz AB will open its first store in Malaysia this year.

Its entry has been much awaited with rumours of its opening going as far back in 2009.

The company, in its financial report released on January 26 this year, confirmed its foray into Malaysia this year.

“We are planning for a strong expansion in 2012 with about 275 new stores net. The countries in which we will open the most stores during the year are China, the US and the UK.

Bulgaria, Latvia, Malaysia and Thailand will become new H&M markets,” it said in its report for the December 1 2010 to November 30 2011 period.

The retailer, which operates a bulk of its stores under the H&M brand, said it remains positive with its future expansion and business opportunities.

“H&M is continuing to expand in Southeast Asia with a store opening in Kuala Lumpur in Malaysia during the autumn 2012,” it said.While in Malaysia it will open on its own, the expansion in Thailand will be a franchise with JS Gill.

Last year, the group’s network expanded by 266 stores.
Industry sources contacted by Business Times on the potential H&M store location in Kuala Lumpur said the retailer’s preference is to have a presence where there is a high foot
traffic and immediate visibility.

Equally important is that it can have a store size of 10,000 sq ft to 30,000 sq ft, they added.

Based on these criteria, its first store may be in a mall along Jalan Bukit Bintang, Suria KLCC or Mid Valley Mega Mall.

As this brand offering is similar to those of Britain’s Topshop and Japan’s Uniqlo, H & M could very well expand into other shopping complexes even within suburban areas like in Sunway Pyramid and 1Utama Shopping Centre.

As at end of November 2011, the total number of stores in the group was 2,472 of which 70 are franchise stores, 45 COS stores, 52 Monki stores, 19 Weekday stores and 4 Cheap Monday stores.
It has a presence in 43 markets.

The entry of H&M stores here, sources said, could next witness US casual wear retailer Abercrombie & Fitch entry into Malaysia.

Both H&M and Abercrombie & Fitch already have a presence in Singapore.

Malaysia diiktiraf antara destinasi pelancongan termurah

RAUB 29 Jan. – Sektor pelancongan Malaysia terus mendapat pengiktirafan antarabangsa apabila tersenarai di antara lapan destinasi percutian paling murah di dunia selain Vietnam dan Thailand oleh portal pelancongan murah, STA Travel United Kingdom.

Menteri Pelancongan, Datuk Seri Dr Ng Yen Yen berkata, selain itu, berdasarkan laporan Organisasi Pelancongan Dunia Pertubuhan Bangsa-bangsa Bersatu (UNWTO) Malaysia menduduki tangga kesembilan dari segi ketibaan pelancong.

Manakala portal informasi dan pelancongan Lonely Planet pula meletakkan negara ini antara 10 negara yang baik untuk dilawati, katanya.

"Industri pelancongan telah banyak mengharumkan nama negara di mata dunia, malah ia merupakan sektor kelima penyumbang terbesar kepada pendapatan negara,” katanya ketika berucap pada Majlis Riang Ria Tahun Baru Cina dekat sini, semalam.

Majlis dirasmikan Tengku Mahkota Pahang, Tengku Abdullah Sultan Ahmad Shah dan turut hadir Menteri Besar Datuk Seri Adnan Yaakob. – BERNAMA

JPO a big hit with bargain shoppers

ONE month into its opening, Johor Premium Outlets (JPO) - a shopping haven joint-venture project between Malaysia’s Genting group and the US’ Simon Property Group - has been attracting strong crowds, especially during weekends.

This spells good news not just for Johor’s tourism industry, but also for the development of Iskandar Malaysia.

Iskandar Malaysia, which aims to be the most developed region in the southern peninsular, needs something to get the average Malaysian excited about it and JPO is one of few projects that help provide it, analysts say.

“Malaysians are shopaholics, so something like this stirs their adrenaline,” one remarked.

JPO, Southeast Asia’s first premium outlet, located in Kulaijaya, is a project earmarked under the country’s Economic Transformation Programme to boost tourism.

It is expected to attract some three million visitors in its first year of operation.

About 90 per cent of its Phase One’s 70 branded/designer stores, including Coach, Ferragamo, Burberry, Levis and Guess, are
already operational.

The rest, which include Polo Ralph Lauren, Tommy Hilfiger and Brooks Brothers, are being fitted out, according to a property research report by HwangDBS Vickers Research on January 16.

“Discounts range from 30 per cent to 60 per cent, a tad better than Singapore sales,” its analysts Yee Mei Hui and Quah He Wei said, noting that the “strong” crowds comprised both locals and Singaporeans.

“We believe JPO will likely attract shoppers consistently, particularly from residents within the Johor state as well as visitors from Singapore, given its location that already has captive shoppers of 8.3 million (3.1 million population in Johor and 5.2 million population in Singapore) and ample car park space,” Hong Leong Investment Bank (HLIB) Research said in a recent report.

While JPO’s size may pale in comparison to similar outlets in the US, Japan and Hong Kong, Phase Two of its development could see another 60 outlets come up, bringing the total number of outlets to 130.

Future development may also include a 2,000-room hotel and water-theme park.

JPO, officially launched by Prime Minister Datuk Seri Najib Razak on December 11 2011, is a 50:50 joint venture between Genting Plantation Bhd’s Azzon Ltd and Premium Outlets, the outlet division of Simon Property Group.

HLIB Research estimated that JPO could contribute some RM11 million a year in net profit to Genting Plantations, a mid-sized plantations firm, from this year onwards.

From an equity investment standpoint, HwangDBS believes that Genting Plantation, which owns 5,500 acres of land in Kulai, could be JPO’s largest beneficiary.

“Every RM5 per square feet increase (from RM10 per square foot assumed) would raise its sum of total parts value by 10 per cent,” it said.

It had a “buy” call on the stock with a target price of RM9.60 a share.

Genting Plantations’ stock, which fell by 2.3 per cent last year, last traded at RM9.28 on Friday, up 13 sen.

Legoland Malaysia expects a million visitors in first year

JOHOR BARU: Legoland Malaysia is projecting its nearly-completed theme park to attract a million visitors during its first year of operation.

Its general manager Siegfried Boerst said the theme park will be officially opened in the second quarter of this year.

"We are looking at more than one million visitors for the first 12 months of operation, and we hope it increases all the time," he told reporters after the unveiling of Legoland Malaysia's dragon mascot made entirely of Lego bricks called "Ollie The Dragon" at Thistle Hotel here on Friday.

The model took 50-man hours to build from approximately 10,000 Lego bricks.

Boerst said construction of the RM700 million theme park is progressing well despite the rainy season affecting Johor, adding he is confident it will be completed on time.

Legoland Malaysia, he said, is planning public relations activities in Malaysia and several other East Asian countries including Singapore and Indonesia leading up to the theme park's official opening, adding it is also developing Johor as a tourist destination.

On the annual pass ticket sales, he said Legoland Malaysia is happy with the response, with its counters selling more than 300 passes daily, with Malaysians making up 80 per cent of the buyers, although the operator is hoping to attract more Singaporean buyers.

"We have registered several thousand annual pass sales, and we intend to keep it open for a few more weeks," he said.

The annual passes, sold at a discounted price of RM195 (adult) and RM150 (children), are valid right into the end of 2013.

Tickets are available online through the AirAsia RedTix and Legoland Malaysia websites.

Legoland Malaysia, the world's sixth Legoland and Asia's first, is located in Iskandar Malaysia and will feature more than 40 interactive rides, shows and attractions when it opens.

Other Legoland theme parks across the world are in Denmark, the UK, Germany and Florida and California in the US.

Bernama

Luxury island plan for Rebak

KUALA LUMPUR: DRB-HICOM Bhd is drafting plans to turn Pulau Rebak in Langkawi into a holiday magnet for the rich and famous.

The group wants to develop a "boutique" luxury holiday concept there to match the likes of The Residences at W Bali, Bvlgari Residences and Banyan Tree Ungasan in Bali, Six Senses Private Residences in Vietnam, The Yamu in Phuket, W Residence in Koh Samui and St Regis Saadiyat Island Resort in Abu Dhabi.

"The time has come for Malaysia to have luxury holiday residences that can woo the rich and the famous globally to pick Pulau Rebak as their preferred holiday destination," DRB-HICOM group managing director Datuk Seri Mohd Khamil Jamil said in a statement yesterday.

Mohd Khamil said Pulau Rebak's strategic location and the government's plan to upgrade the holiday haven to be on par with the world's top holiday islands would serve as a catalyst to its aspirations.

"The launch of the Langkawi Tourism Blueprint by Prime Minister Datuk Seri Najib Razak recently, entailing an estimated RM5 billion investment over the next five years, was a welcome initiative.

"I'm confident with the blueprint, coupled with the cooperation and participation of all parties, the government's estimate to double tourism revenue to RM3.8 billion via the arrival of three million tourists to Langkawi by 2015 will be realised," Mohd Khamil added.

The absence of an ultra luxury concept property development on a local holiday island has provided an opportunity for DRB-HICOM to explore the prospect, he said.

"We have been discussing the Pulau Rebak development plan since 2009 and the feedback received from international development consultants, residential property owners and world-class holiday companies is very encouraging," Khamil added.

Langkawi tourism boom

Island set to see robust development with launch of RM5b plan by prime minister

LANGKAWI is set to usher in a second wave of tourism investments with the launch of a five-year tourism road map by Prime Minister Datuk Seri Najib Razak yesterday.

The Langkawi Tourism Blueprint, which envisages RM5 billion investments in tourism projects, aims to raise annual tourist arrivals to the island to three million by 2015 from two million currently.

Prime Minister Datuk Seri Najib Razak taking a closer look at the
Pantai Chenang development model after the launch of the Langkawi
 Tourism Blueprint yesterday. With him are Second Finance Minister
 Datuk Seri Ahmad Husni Mohamad Hanadzlah (second from left),
 Minister in the Prime Minister’s Department Tan Sri Nor Mohamed
 Yakcop and Tourism Minister Datuk Seri Dr Ng Yen Yen.
Pic by Shahrizal Md Noor

This would create an additional 4,200 jobs in the tourism industry and raise tourism receipts to RM3.8 billion from RM1.8 billion.

“Langkawi’s success up until now has been great. But we need to have a strong branding for Langkawi,” Najib said.

“We also need to ensure that while we develop, we take care of the environment.

“For Malaysia to continue being a choice destination for tourists, we need to take in hand certain issues, including the need to develop our tourism products, especially the more interesting and iconic ones, and go for more focused promotions.”

Tourism is one of the 12 National Key Economic Areas under the Economic Transformation Programme (ETP). Last year, the sector contributed RM56.5 billion from 24.6 million tourist arrivals.

The blueprint is the second phase of the development plan for Langkawi, with the first begun by Najib’s predecessor, Tun Dr Mahathir Mohamad.

“In the 1980s, when (Dr Mahathir) declared Langkawi a duty-free island, Langkawi went through a tremendous growth spurt.”

The blueprint will have 14 initiatives under three themes — product, infrastructure and enablers.

Among the key elements of the blueprint are:Promoting the island’s iconic spots, such as the Langkawi Geopark, Pulau Dayang Bunting and Gunung Machinchang.

Building five five-star hotels to target highnet- worth tourists.

SETTING UP a park ranger team to ensure the conservation of tourist spots;

IMPROVING infrastructure in tourism areas to create a good first impression;

SETTING UP a tourism academy, a collaboration between the Higher Education Ministry and Taylor’s University;

IMPROVING air services and providing incentives for chartered flights to Langkawi, improving land transport services and providing a clean environment; and,

INTENSIFYING promotional efforts to make Langkawi a meetings, incentives, conventions and exhibitions destination.

Najib said the increase in tourist arrivals would more than double the island’s contribution to the nation’s gross national income, from RM800 million to RM1.9 billion.

He said that out of the RM5 billion, the government had allocated RM420 million under the 2012 Budget to undertake infrastructure development while the balance would come from the private sector.

Najib ordered the Langkawi Development Authority (Lada) to clean up Pantai Chenang Langkawi was recently recognised in National Geographic’s top-10 list of premier beaches in the world.

It was also declared a geopark by Unesco in 2007 Present at the launch of the blueprint were Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah, Tourism Minister Datuk Seri Dr Ng Yen Yen and Kedah Menteri Besar Datuk Seri Azizan Razak.