Latest news with #Woon
The Star
01-07-2025
- Business
- The Star
Buzzing time for Iskandar Puteri with new housing project, sales gallery
The opening of the sales gallery in Iskandar Puteri marks Faire Development's expansion in Johor. Housing developer Faire Development is looking to replicate success of its maiden project in Johor Baru with a second development in Iskandar Puteri, Johor. Faire's flagship project Bae, in Bandar Dato' Onn, is a 11.3ha development of 337 double-storey link houses. It was launched in January last year. Its managing director Kenneth Lim said Bae units, priced RM800,000 to RM900,000 each, sold out within three months. The project is expected to be completed by end of this year. 'Demand for landed property in Johor Baru district remains strong and we are upbeat that our second project – Bee – will also do well,' he said at the opening of Faire Development sales gallery at No.1, Jalan Horizon Perdana 4, Horizon Hills. Also present was Faire Development chief executive officer Louis Tee. (From left) Tee, Lim and Woon introducing Bee. The Bee project is on a 23.9ha site in Iskandar Puteri, near the new sales gallery. 'Iskandar Puteri is one of Johor's fastest growing corridors and this augurs well for our latest project,' Lim said. He added that the project was raising the bar for multi-generational living with thoughtfully designed homes that cater to every stage of life. 'We are focusing on comfort, connection and convenience. 'Bee is not just a place to live – it's a lifestyle destination built around people.' Faire Development general manager Richard Woon said Bee was slated to be launched in the third-quarter of this year, with completion targeted in the third quarter of 2027. The gated-and-guarded project comprises 503 landed properties made up of double-storey terrace homes, three-storey cluster houses and three-storey semi-detached units. 'Each unit is planned with flexibility and family dynamics in mind, enabling seamless coexistence between children, parents and grandparents,' he said. Woon said apart from its strategic location, Bee's strong selling point included being located near top-tier schools, healthcare facilities, retail shops and recreation centres. 'We anticipate strong demand from locals for our latest project, especially Malaysians working in Singapore,' he added. Additionally, Johor feng shui master Louis Loh shared why he had invested in the new development through a recorded speech at the launch of the sales gallery. He expressed confidence in the growth potential of the company, which had roots that could be traced back over 50 years to Sin Soon Lee Realty, a well-established developer in Batu Pahat district. Speaking about exceptional feng shui attributes of Bee, he said the project was located on a site surrounded by flowing energy and good fortune. 'It sits within a vibrant, water-rich area, making it ideal not only for living but also business and long-term investment or legacy purposes,' Loh said.
The Star
23-06-2025
- Business
- The Star
FDI may soften as global risks mount
PETALING JAYA: The country's foreign direct investment (FDI) is anticipated to remain subdued in the second half of this year (2H25), as foreign investors adopt a cautious stance amid uncertainties surrounding the US tariff policy and escalating conflict in the Middle East. While the baseline 10% tariff on exports to the United States remains in place, the fate of the proposed 24% reciprocal tariff on Malaysia will only be known by early next month. The outcome will be a crucial factor in determining FDI flows into the country. The challenging investment climate is further intensified by the Israel-Iran war, which will likely prompt investors to take a wait-and-see approach before executing their investment strategies. RAM Rating Services Bhd senior economist and head of economic research Woon Khai Jhek RAM Rating Services Bhd senior economist Woon Khai Jhek told StarBiz that the 2H25 could potentially be tougher than the first, especially if US tariffs move into full swing and there is no meaningful rollback of protectionist policies. 'However, the softening is likely to be moderate rather than severe, thanks to a still healthy project pipeline and continued policy support. 'The protectionist US measures, including the prospect of fresh 'Trump‑era' tariffs and renewed geopolitical tensions in the Middle East, will weigh on investment sentiment. 'The global volatility might prompt some multinational companies (MNCs), especially in trade-exposed manufacturing, to defer investment decisions until policy clarity returns,' he added. That said, Woon noted that Malaysia's investment pipeline remains solid, judging by the numbers. Total approved investments stood at RM384.4bil last year, rising further from RM329.5bil in 2023. This performance was substantially higher than the 2010 to 2019 pre-Covid-19 average of RM204.5bil. He said the momentum has continued this year, as investment approval amounted to RM89.8bil in the first quarter (1Q25), outpacing the RM86.6bil in 1Q24. This suggests plenty of projects rolling into 2H25, which should help underpin overall investment growth, he noted. However, FDIs might come under renewed pressure as protectionist rhetoric from the United States and re-shoring push could prompt some MNCs to defer large greenfield or capacity expansion projects. Woon said uncertainty surrounding tariff rates and the countries potentially targeted by US tariffs make investment decisions challenging, especially without clarity on the future policy landscape. 'Regions that are most vulnerable to potential global value chain shifts, such as the highly fragmented electrical and electronics (E&E) sector, face the highest risk of pullbacks. This could affect the sector's expansion plans in the region, including in Malaysia,' he said. OCBC Senior Asean economist Lavanya Venkateswaran OCBC senior Asean economist Lavanya Venkateswaran said FDI inflows are likely to remain subdued in 2H25. She noted that although precise forecasts are difficult, foreign investors are expected to remain cautious in the near term. 'The investment climate is likely to remain challenging in the 2H25, similar to the 1H25. This is mainly because businesses remain in a wait-and-see mode on account of US tarif- related uncertainties. 'There has been a steady stream of foreign investment approvals into Malaysia's E&E manufacturing sector since 2021 and these investment flows are most at risk in the near term, in our view.' That said, Lavanya noted that Malaysia's investment climate remains positive. 'The Malaysian authorities are keen to diversify investment sources away from traditional markets such as the United States towards newer markets such as the Gulf Cooperation Council and Brics economies, while building intra-Asean resilience through initiatives such as the Johor-Singapore Special Economic Zone (JS-SEZ),' she said. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the investment climate will be extremely challenging, as the 90-day pause on US tariffs is set to end in early July – before the global community can ascertain the final tariff rates. Furthermore, the geopolitical conflict in the Middle East could easily tilt the balance of risks, he said. Domestically, he noted, fiscal consolidation efforts such as fuel subsidy rationalisation and higher expanded sales and service tax will increase the cost of doing business. In a nutshell, business and consumer sentiments are expected to remain guarded in the near term, he added. On the FDIs outlook for the 2H25, Mohd Afzanizam said FDI in the services sector will likely continue to perform well, driven largely by sustained interest in data centres dominating the investment landscape. 'In the 1Q25, approved investment in the services sector rose 39.5%, led by a 326.6% increase in foreign investment,' he said, adding that manufacturing FDI is expected to face a challenging outlook in the near term owing to uncertainties in global demand. In terms of domestic direct investment (DDI), RAM's Woon noted that while DDI will not be immune to pressures from external factors, it is anticipated to be more resilient than FDI in the 2H25. Around 55% of total approved investments in 2024 were attributed to DDI, outweighing FDI after being overshadowed by the surge in FDI approvals over the preceding three years. The momentum of DDI is also gaining, as local investment approvals jumped to RM213.1 bil in 2024 from RM141.1bil the previous year. 'Coupled with the government's recent focus on promoting DDI, this could provide a stronger lift for domestic investors, who are well-placed to fill the gap left behind by FDI. 'Furthermore, with various government efforts and masterplans like the New Industrial Master Plan 2030 and the National Energy Transition Roadmap (NETR) already in place, this suggests robust policy support and investments in the nation's development. 'Thus, we have ample reasons to be optimistic about the future trajectory of Malaysia's local investments,' Woon said. OCBC's Lavanya said there could be a divergence between domestic and foreign investment inflows in the 2H25. 'While domestic investors focused on the US markets will likely remain wary of further expansion, investors catering to other markets may see opportunities for expansion. 'Domestic investors could also look to diversify across the country, capitalising on initiatives such as the JS-SEZ,' she noted. To attract more investments into Malaysia, RAM's Woon said the government should focus on creating a conducive investment environment and offering targeted policy support. 'Businesses need clear, consistent policies to make long-term investment decisions. Reducing bureaucratic inefficiencies and ensuring regulatory transparency will help attract both domestic and foreign investors. 'Additionally, continued investment in physical and digital infrastructure (such as 5G rollout, industrial parks and efficient logistics) is crucial in attracting investments in high-value sectors. 'Besides that, talent development and workforce readiness are critical to ensuring Malaysia remains an attractive investment destination,' he said, adding that expanding training programmes, upskilling initiatives and fostering industry-academic collaborations will help ensure the country remains competitive. Lavanya said the initiatives adopted by the authorities so far are steps in the right direction. The continued focus on structural reforms – such as prudent fiscal policies, raising value-add in key sectors such as E&E, and encouraging better spatial distribution of growth across the country – would hold the economy in good stead over the medium term. She added that the government is keen to diversify its investment and trade partnerships beyond traditional partners such as the United States. This is underscored by initiatives to boost intra-Asean connections, deepen engagement with the Brics+ alliance, and deepening connections with the GCC economies. These measures should help build economic resilience in times of heightened uncertainties, she said.
New Straits Times
11-06-2025
- Business
- New Straits Times
U Mobile, OCK ink MoU for nationwide next Gen 5G rollout
KUALA LUMPUR: U Mobile has signed a memorandum of understanding (MoU) with OCK Group Bhd's subsidiary, OCK Telco Infra Sdn Bhd, for its nationwide Next Gen 5G rollout. In a statement today, U Mobile said OCK will become one of U Mobile's preferred 5G In-Building Coverage (IBC) infrastructure partners for the rollout. It said this collaboration represents another critical milestone in U Mobile's Next Gen 5G network deployment, especially in delivering a superior 5G performance in high-traffic indoor environments. U Mobile chief technology officer Woon Ooi Yuen said as Malaysia's Next Gen 5G network provider, the company is committed to empowering consumers and enterprises through reliable, ultra-fast connectivity. Woon said this partnership with OCK further enhances our ability to deliver that promise, especially in indoor and high-density environments. "OCK will also serve as a key enabler in supporting our goal of achieving 80 per cent coverage of populated areas (CoPA) by July 2026, while laying the foundation for broader 5G innovation and adoption," he said. With OCK's experience and capabilities in deploying telco infrastructure, U Mobile aims to accelerate its 5G IBC deployment with customised solutions tailored to the unique needs of each site. The partnership will prioritise reliable, high-performance indoor 5G connectivity that supports ultra-fast speeds, low latency, and seamless user experiences. Both parties also aim to deliver a fast and cost-effective deployment through a commercially competitive arrangement. "As part of the MOU, U Mobile and OCK will also jointly explore next-generation IBC innovations, including solutions that integrate technologies such as Artificial Intelligence (AI), Internet of Things (IoT), smart cities, and autonomous systems, laying the groundwork for future-ready digital environments," it added.
Business Times
01-06-2025
- Business
- Business Times
Grow greener: Home-grown firm expands urban design expertise to over 40 countries
You step out for lunch. The heat and humidity hit you immediately. Within minutes, your skin is sticky, your shirt clings to your back and you long for the cool embrace of air-conditioning. Scientists estimate that Singapore endured 122 extra days of dangerous heat in 2024 due to climate change. These are defined as days when the mean temperatures were higher than the warmest 10 per cent of readings from 1991 to 2020. Compounding this is the urban heat island effect, says Mr Henry Woon, director of Environment, Buildings + Cities, at Surbana Jurong Group (SJ). Headquartered in Singapore and wholly owned by investment company Temasek, SJ is a global consultancy specialising in urban development, infrastructure and managed services, with offices in more than 40 countries. It brings together 10 global member brands to design and develop smarter, more sustainable solutions for the future. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Speaking to The Straits Times along the Read Bridge in Clarke Quay, Mr Woon explains that the urban heat island effect is a phenomenon where cities tend to be hotter than rural areas. 'It is more pronounced in areas that are densely built-up and lack sufficient greenery and wind flow,' says the 44-year-old, who has over 20 years of experience in environmental and sustainable design. Familiar urban materials such as concrete, glass and steel are key contributors, Mr Woon explains. They trap heat and raise temperatures in the surroundings. So what can we do? Use the art and the science of design to create cooler, smarter, and friendlier urban spaces, he says. Expanding expertise Surbana Jurong Group (SJ) has helped shape Singapore's housing and industrial landscapes, including designing over a million homes. The company has broadened its global reach and expertise in recent years – especially in sustainability. One ongoing project: Exploring ways to protect Singapore's coastline from rising sea levels. A key driver of this transformation was Temasek's investment in 2015. 'Cities are increasingly integrating smart technologies, sustainable materials and resilient urban design into their built environments,' says Mr Russell Tham, head of Emerging Technologies, Temasek, and former board member of SJ. The Singapore-headquartered investment firm saw growing opportunities in the urban development sector, he adds. 'As an active shareholder, we (Temasek) are committed to engaging our portfolio companies, such as SJ, on their growth strategies to create sustained long-term value.' For SJ, this has meant strategic investments to accelerate expansion, including the acquisition of 10 companies to offer a wider range of sustainable solutions, says Mr Tham. Mr Sean Chiao, group chief executive officer of SJ, adds: 'Temasek's support has been crucial in fuelling our growth, by bringing together companies who are leaders in their respective fields, to form a collective of problem solvers.' Today, SJ operates in over 40 countries and employs 16,000 globally. Its annual revenue has surged from $400 million in 2015 to $2.3 billion in 2024, with 7,000 active projects worldwide. Expand Designing comfort Stepping under the shade of the iconic CQ @ Clarke Quay canopies, Mr Woon points out how the temperature immediately feels about 2.5 deg C cooler – even though the actual temperature hasn't changed. Mr Henry Woon, director of Environment, Buildings + Cities, SJ, is part of the team that worked on making CQ @ Clarke Quay more conducive for daytime activities. PHOTO: CAROLINE CHIA The canopies are made from a lightweight, transparent plastic membrane called ethylene tetrafluoroethylene (ETFE). The ETFE material enables the canopies to reduce solar heat gain by more than 60 per cent, says Mr Woon, improving comfort during the day. The goal of the CQ @ Clarke Quay rejuvenation project – completed in 2024 as part of a $62 million asset enhancement initiative by CapitaLand Integrated Commercial Trust – was to make the precinct more conducive for daytime activities. Mr Woon, who contributed to the project, shares how SJ uses environmental design elements to improve urban spaces and buildings. Cooler The new ETFE canopies at CQ @ Clarke Quay reduce the surface temperature of the concrete floors from over 40 to around 32 deg C at mid-day, says Mr Woon. This same material is used to shelter the indoor gardens at SJ's headquarters, located within CleanTech Park at Jurong Innovation District, keeping temperatures down while allowing natural light to filter through. Smarter For CQ @ Clarke Quay, SJ designed a customised misting fan system that provides an evaporative cooling effect to the surrounding food and beverage zones. This new fan design reduces energy consumption by about 50 per cent compared with the original fan system, he says, and helps lower the environmental temperature in the surrounding area by about 2 deg C. Greener Situated between Fort Canning and the Singapore River, CQ @ Clarke Quay 'has open spaces in all directions, allowing for natural ventilation', says Mr Woon. The team worked with CQ @ Clarke Quay's unique location to create a comfortable outdoor environment without relying on energy-intensive cooling. The enhanced natural ventilation, combined with the customised misting fans, helps counter the urban heat island effect by preventing heat from accumulating in the surrounding street area, he adds. SJ applied this same approach – of integrating a building with its natural surroundings – to one of its latest projects: Mandai Rainforest Resort. Nestled within the lush Mandai Wildlife Reserve, the resort was designed with nature-based principles. It was carefully built around existing trees in the area to preserve them, while maximising natural ventilation and shading. Building better Surbana Jurong Group (SJ) has over 120 offices in more than 40 countries across its 10 global member brands. Here's how it's helping to shape more sustainable and resilient cities. Snowy 2.0 in Australia. PHOTO: SJ Snowy 2.0, Australia: The pumped-hydro project will deliver 2,000 megawatts of on-demand renewable power and about 350,000-megawatt-hours of large-scale energy storage, helping to stabilise Australia's electricity supply. Sarawak Energy Transition Masterplan, Malaysia: The project aims to cut greenhouse gas emissions in Sarawak and drive sustainable economic growth through renewable energy resources like hydropower, and low-carbon fuels such as hydrogen and ammonia. Google London King's Cross, United Kingdom: Google's London headquarters integrates green roofs, energy-efficient lighting and natural ventilation to reduce its environmental impact and improve employee well-being. Kigali City Master Plan, Rwanda: This urban development blueprint aims to transform Rwanda's capital into a modern financial hub while addressing residents' needs through affordable housing, transport and infrastructure services. King Abdulaziz International Airport (KAIA), Saudi Arabia: As the project management consultant, SJ helped KAIA expand capacity and enhance traveller experiences, especially for the millions of pilgrims transiting through the airport annually during haj and Umrah. Expand For people and planet, a positive impact Over half of the global population (55 per cent) currently resides in urban areas, according to data from the United Nations (UN). This figure is projected to reach 70 per cent by 2050. But every building carries an environmental cost. Already, the built environment is responsible for 37 per cent of global energy-related emissions, says a 2023 UN Environment Programme study. As part of the World Green Building Council's Net Zero Carbon Building Commitment, SJ has pledged to develop and implement a decarbonisation roadmap. This will outline key actions and milestones to achieve carbon-neutral operations by 2030. Carbon neutral means that any carbon emissions released into the atmosphere is balanced by an equivalent amount being removed. But is reducing or offsetting carbon emissions enough? No, says SJ's Mr Woon. 'For those of us shaping urban spaces, our responsibility shouldn't stop at just minimising impact,' he adds, introducing the concept of regenerative design in the built environment. Regenerative design goes beyond sustainability, Mr Woon explains, by moving away from doing less harm to creating a 'net-positive impact'. It is about designing spaces that are better for the planet and people, he adds, enhancing the well-being of those who use it. SJ group chief executive officer Sean Chiao says the company is focused on a 'regenerative future', beyond just carbon reduction. PHOTO: CMG 'We're driving towards a regenerative future,' says Mr Sean Chiao, group chief executive officer of SJ. 'Beyond carbon reduction, we're committed to shaping cities and buildings that regenerate, not just sustain, in the long term.' The transformation of CQ @ Clarke Quay, which reimagined the precinct for daytime use and integrated the space with its natural surroundings, reflects this vision. The goal wasn't to change CQ @ Clarke Quay's identity but to breathe new life into it, says Mr Woon. It's an approach that embodies SJ's mission – designing urban spaces that create a positive impact for people and the planet. 'The growth of Temasek's portfolio companies from local to regional and global leaders reflects Singapore's pioneering spirit and its DNA of determination, innovation and vision. 'As an active shareholder, Temasek engages them to enhance shareholder value as they grow their competitive edge and generate sustainable long-term returns, while fostering meaningful change for people and communities – so every generation prospers.' – Mr Dilhan Pillay Sandrasegara, executive director and chief executive officer, Temasek Our Singapore DNA, a series in partnership with Temasek, spotlights how home-grown companies in its portfolio have grown into regional and global leaders. It also explores how Temasek has partnered them throughout their journeys. Expand This was first published in The Straits Times.
Sunday World
16-05-2025
- Sunday World
Irish boxer caught with drugs at Manchester Airport took offer he ‘couldn't refuse'
The 36-year-old was caught with €117,180 worth of cannabis in a suitcase An Irish boxer who was caught with drugs at Manchester Airport took an offer he 'couldn't refuse' according to his defence counsel. Edward Nesbitt was jailed after he picked up a suitcase containing 23 kilograms of cannabis from a baggage belt in March. The 36-year-old collected the drugs after he landed in the UK on a flight from Amsterdam. Manchester Crown Court heard that the suitcase arrived on a flight from Singapore with Yoke Woon, an Uber driver from Malaysia. He then left the case on a luggage carousel in Terminal 2 for the Northern Irish father of two, who then picked it up and attempted to exit the airport. CCTV showed Woon arriving on a Singapore Airlines flight shortly after 8.30 am on March 4th. He walked through the baggage reclaim hall without collecting the luggage he checked onto the flight. Edward Nesbitt News in 90 Seconds - May 16th On the same morning, Nesbitt arrived on a KLM flight, collected Woon's suitcase, and walked through the 'nothing to declare' channel while attempting to exit the airport. When he was stopped and questioned by customs, he said the suitcase was not his and claimed that he had stolen it. Officers discovered 23 kilograms of cannabis worth €117,180 (£93,600). The two men were arrested and answered 'no comment' to questions asked throughout their interviews. The court heard Woon left Manchester Airport following the incident, but was arrested when he returned a week later for a flight to Abu Dhabi. Both men pleaded guilty to the fraudulent importation of class B drugs. Nesbitt had 13 sets of previous convictions for 27 offences in Northern Ireland. He was serving a suspended sentence at the time of the drug smuggling operation. His defence counsel, Sarah Magill, told the court that he had a 'boxing career' in Northern Ireland, but went on to commit 'low-level' crime. She said her client had alcohol issues, and previous 'substance' issues, and felt he had been handed an 'offer he couldn't refuse.' Magill added that while he had split from the mother of his two children, they had a 'constructive parental relationship.' The court heard the men had 'received very limited financial benefit' for their crimes. Woon had no previous criminal convictions, and the court heard his role in the drug smuggling operation came as a 'complete shock and surprise' to his family, who were present in court for the proceedings. His defence counsel, James Skelsey said he 'reluctantly' got involved in the operation, and demonstrated 'immaturity and naivety' after he was 'told he would not be in big trouble if he did get caught.' However, he accepted his client made a 'colossal mistake' and pleaded for leniency. In her sentencing remarks, Judge Hilary Manley said the pair 'had operated separately but in tandem' as part of the plot to import the cannabis. While she told Woon his involvement was 'very out of character', she said Nesbitt had 'mental health problems including autism and learning difficulties.' "It's sad that each of you has allowed yourself to be embroiled in this enterprise which has to lead to an immediate sentence of imprisonment in my judgment," she said. Nesbitt, of Sandown Park, Northern Ireland was handed a sentence of 12 months in prison, while Woon of no fixed abode was jailed for 10 months.
