Latest news with #RTS2
BusinessToday
4 hours ago
- Business
- BusinessToday
HLIB Picks Sunway, UEM Sunrise If RTS Link 2 Kicks Off
Hong Leong Investment Bank Bhd (HLIB) has maintained its OVERWEIGHT call on the property sector, highlighting Sunway and UEM Sunrise (UEMS) as key beneficiaries of the proposed second Rapid Transit System (RTS 2) between Tuas in Singapore and Iskandar Puteri in Johor. The research house kept its BUY rating on Sunway with a target price of RM5.90 and HOLD on UEMS with a target price of RM0.78, noting that the potential link could significantly uplift property values in the region. HLIB said the proposal, discussed during a meeting between Johor Menteri Besar Datuk Onn Hafiz Ghazi and Singapore Prime Minister Lawrence Wong at The Istana on 31 July, could be a game-changer for the southern economic zone. While details on alignment, stops and timeline are still pending, the plan aligns with the Johor-Singapore Special Economic Zone (JS-SEZ) framework to drive cross-border economic activity and improve workforce mobility. The research house added that if RTS 2 materialises, Iskandar Puteri could experience a property boom similar to the surge seen near the existing RTS corridor in Johor Bahru, where residential prices doubled in the years leading up to its launch. New launches near the current RTS station command RM1,000–RM1,500 per sq ft, compared to landed projects in Iskandar Puteri like Sunway's Maple Residences launched at RM550 per sq ft in late 2024. Sunway, with its 669-acre Sunway City Iskandar Puteri township and effective gross development value (GDV) of around RM24 billion, is well-positioned to benefit if the proposed alignment runs nearby. HLIB noted that the township's strategic location and low historical land cost could lead to a doubling of GDV and ultra-high development margins. The expected conversion of Sunway's Medini land to freehold by 3Q25 could further boost values by at least 25%. UEMS is another key player with 4,662 acres in Johor and an effective GDV of RM58.2 billion, largely in Iskandar Puteri. Enhanced connectivity from RTS 2 could accelerate its project launches and allow a shift from low-density landed housing to higher-density developments, improving land efficiency and returns. HLIB believes that RTS 2, together with Johor's push for integrated urban development under the JS-SEZ, could catalyse long-term property demand and pricing in the region. The research house reiterated its OVERWEIGHT stance on the property sector, naming IOIPG (BUY; TP: RM4.05), OSK (BUY; TP: RM2.13), Sunway (BUY; TP: RM5.90) and Sime Darby Property (BUY; TP: RM2.05) as its top picks.
New Straits Times
03-08-2025
- Business
- New Straits Times
Cross-border RTS 2 to spur development in Iskandar Puteri: HLIB
KUALA LUMPUR: The proposed RTS 2 link between Tuas and Iskandar Puteri, could be a major catalyst for Iskandar Puteri region, especially amid rising cross-border activity under Johor-Singapore Speciali Economic Zone (JS-SEZ). Hong Leong Investment Bank Bhd (HLIB) said while still at an early discussion stage, the RTS 2 proposal was timely and strategically important. HLIB said the JS-SEZ is expected to drive substantial cross-border economic activity and workforce mobility, and a second RTS link would play a key role in easing congestion, improving connectivity and supporting sustained growth in cross-border commuting. However, no specific details on alignment, stop locations or implementation timelines have been disclosed at this juncture. "If realised, RTS 2 could be a major catalyst for Iskandar Puteri, similar to the impact seen around the existing RTS link in JB. "Residential property prices near the current RTS station surged significantly, doubling in just a few years prior to operations commencement, highlighting the powerful value uplift potential of cross-border transit infrastructure," it said. HLIB believe RTS 2 could replicate this trend in Iskandar Puteri, benefitting developers with strategic landbank exposure in the area, notably Sunway Group and UEM Sunrise Bhd. Meanwhile, the firm said for perspective, new high-rise launches near the existing RTS corridor are now commanding prices of RM1,000 to RM1,500 per square foot. In contrast, there have been few recent high-rise launches in Iskandar Puteri. For comparison, it said Sunway's Maple Residences, a landed project launched in late 2024, was priced at just RM550 per square foot. HLIB added that the introduction of RTS 2 would not only uplift property prices in the region but also shift development dynamics. It noted that improved accessibility would justify a move from low-density landed homes to higher-density high-rise developments, improving land efficiency and allowing developers to extract greater value from their landbank.
New Straits Times
02-08-2025
- Business
- New Straits Times
Former Skudai assemblyman welcomes second RTS proposal
KUALA LUMPUR: Former Skudai assemblyman Dr Boo Cheng Hau has welcomed the Johor government's proposal to establish a second Rapid Transit System (RTS) to connect Tuas in Singapore and Iskandar Puteri in Johor. The proposal was raised by Johor Menteri Besar Datuk Onn Hafiz Ghazi during his meeting with Singapore Prime Minister Lawrence Wong at The Istana in Singapore on Thursday. The second RTS, he said, would help speed up the development of Johor-Singapore Special Economic Zone by integrating the connectivity between the two countries. The former DAP Johor chairman also praised Onn Hafiz's openness in listening to opinions from the grounds and his down-to-earth approach in resolving the hardships faced by the ordinary Johoreans. Dr Boo said back in February, he issued a press statement pertaining to the same issue, suggesting a second RTS after having received input from the grassroots and the local guilds' leaders. "I am delighted that the Johor government has taken the suggestion into consideration and officially proposed it to the Singaporean government. "It was hoped that Putrajaya and the Singaporean government would consider the proposal seriously. It would be beneficial to not only Johoreans but also to the development of the Johor-Singapore Special Economic Zone." Dubbed RTS2, the proposed link, if realised, follows a similar system along the Causeway that is nearing completion and will be part of a broader plan to improve mobility and investment synergy between the two economies. (Link: ) Dr Boo said he does not oppose the Kuala Lumpur-Singapore High-Speed Rail (HSR) projects, but it requires more in-depth due diligence studies as it involves an enormous amount of investments which is beyond Malaysia's financial capacity at the moment. "Nonetheless, it could be reconsidered when Malaysia's financial standings would have improved and the geopolitical environment is more conducive for such a mega project, considering the strategic position of the Johor-Singapore Economic Zone," he said, adding that the policy makers would have to gauge as to whether the geopolitical factors are favourable for such a mega project. He added that the feasibility and demands for HSR could be better reassessed after the double-track Electronic Train System is in full operation and the cost-effectiveness and economic benefits of the HSR could be better reassured.
Independent Singapore
01-08-2025
- Business
- Independent Singapore
Johor proposes second RTS link to Tuas ahead of 2027 Johor Bahru–Woodlands line launch
Photo: Facebook/Onn Hafiz Ghazi JOHOR BAHRU: Johor has proposed a second Rapid Transit System (RTS2) link connecting Iskandar Puteri to Tuas as part of efforts to boost cross-border cooperation with Singapore. The proposal was among several raised by Johor Chief Minister Onn Hafiz Ghazi during a meeting with Singapore Prime Minister Lawrence Wong at The Istana on Thursday (July 31), ahead of the planned 2027 launch of the Johor Bahru–Woodlands RTS Link. According to The Star , citing the Facebook post of the Johor Chief Minister, he said, 'In line with the royal decree of Johor Regent Tunku Ismail Sultan Ibrahim, I presented several strategic proposals, including a plan to connect Tuas and Iskandar Puteri via an RTS2 system.' Mr Ghazi also shared that they discussed the progress of the Johor–Singapore Special Economic Zone (JS-SEZ) implementation, including the establishment of the Invest Malaysia Facilitation Centre Johor (IMFC-J), which now serves as the main facilitator for investment support and policy coordination. He added that PM Wong welcomed the JS-SEZ progress and shared positive views on the potential for broader cooperation in energy, regional logistics, and stronger Johor-Singapore ties. According to him, PM Wong also appreciated Johor's efforts in maintaining a fair and competitive labour market and was open to reviewing the proposals constructively. Johor has received over 577 investment enquiries under the JS-SEZ to date, with 70 investors showing serious interest, including 11 referred directly by Singapore's investment agencies, said Mr Ghazi. He also shared that Johor recorded RM30.1 billion (S$9.12 billion) in investments in the first quarter of the year, along with a 6.4% gross domestic product (GDP) growth—the highest among all Malaysian states. 'Overall, the discussions are very positive, and I am confident that this meeting opens a new chapter in the Johor-Singapore bilateral relationship,' he said. /TISG Read also: First JB-SG RTS Link train begins off-site systems integration testing at SRTC () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
CNA
31-07-2025
- Business
- CNA
Johor floats second RTS link to connect Tuas and Iskandar Puteri in meeting with PM Wong
SINGAPORE: The Johor state government has proposed the possibility of a second Rapid Transit System (RTS) link connecting Tuas and Iskandar Puteri to further enhance cross-border mobility. The state's Chief Minister Onn Hafiz Ghazi said he had floated several "strategic proposals" during a meeting with Singapore Prime Minister Lawrence Wong. "In line with the regent of Johor, I have put forward several strategic proposals, including connecting Tuas to Iskandar Puteri via the RTS2 system," he said in a Facebook post on Thursday (Jul 31). A target date of December 2026 has been set for the first Johor Bahru-Singapore RTS Link to begin operations. Installation works for the rail system were about 56 per cent complete as of the end of June. Mr Wong also wrote about the meeting in a Facebook post, and while he made no mention of the RTS2 proposal, he lauded the "deep and long-standing partnership" between Johor and Singapore. "We're making good progress on major initiatives like the Johor Bahru-Singapore Rapid Transit System Link and the Johor-Singapore Special Economic Zone (SEZ). These projects will boost cross-border flows, strengthen our economic linkages, and create more opportunities for our people," he said. The prime minister noted the close ties between Johor and Singapore in areas such as the economy and the environment, and welcomed even greater cooperation to "deliver real benefits on both sides of the Causeway". JOHOR-SINGAPORE SEZ Mr Onn Hafiz said that various matters relating to cooperation between Johor and Singapore were discussed during the nearly hour-long meeting at the Istana. This meeting was not just a symbol of the close ties between Singapore and Johor state, but also a reflection of their shared commitment to elevate cooperation to a "more strategic and holistic level". "During the discussion, I shared the progress of the Johor-Singapore Special Economic Zone, including the role of the Invest Malaysia Facilitation Centre Johor, which is now the key facilitator for investment and policy coordination," Mr Onn Hafiz said. "To date, Johor has received more than 577 investment enquiries, with 70 investors showing serious interest, including 11 companies referred directly by Singapore investment agencies." The zone promises to fuse Singapore's strengths in research and development with Malaysia's industrial muscle and land space – if certain cross-border challenges can be resolved. He also said the state's economy had grown by 6.4 per cent – the "highest in Malaysia" – and cited investments worth RM30.1 billion (US$7.06 billion) for the first quarter of 2025. Mr Onn Hafiz said Mr Wong welcomed the progress of the Johor-Singapore SEZ and was bullish about stronger collaboration in areas like energy and logistics. He added that Mr Wong expressed openness to constructively review the proposed initiatives. "Overall, these discussions are very positive and I am confident that this meeting opens a new chapter in Johor-Singapore bilateral relations," he added.
