Dear Friends of i3 FORUM, 

We Visited Pengerang's RAPID & Took Photos. Now We Have Videos of KIPI, Tanah Kuning Industrial Park Uploaded for Us.

We see both with identical Value Additions by Incoming Development that Unlocked Palm Oil Land Values

First, let us Recall our past posts on Pengerang 

See

CALVIN TAN FIRST HAND REPORT ON HIS VISIT TO BOOMING PENGERANG REGION

Publish date: Sat, 26 Mar 2016, 11:25 PM

A DAY’S TOUR IN ISKANDAR & PENGERANG OIL & GAS REGION.

Due to the hype of Pengerang Oil & Gas Boom I decided to visit Pengerang on a Fact Finding Mission. To see First hand & to feel the sentiment of the people.

My day begins on 12th of March, 2014 at 6.00a.m. Singapore Time. As I crossed the Woodland Causeway I was soon on the EDL (Eastern Dispersal Link) towards the Western Coastal Highway – then I took a turn into the Pasir Gudang Highway & proceeded to Masai Town (Now Ecoworld Territory).

As I turned into the Masai Town I noticed the sheer volume of cars moving slowly into the JB City Direction. It was a sight to behold indeed. Cars, bikes, vans and all converge on the narrow road from Taman Air Biru,  Taman Nusa Damai, Taman Cendana, Taman Pasir Putih, Taman Scientex, Taman Bukit Dahlia, Taman Cahaya Masai & Taman Kota Masai all squeeze into the 2 lanes road to join the 4 lanes Pasir Gudang Highway!

No wonder there is an urgent need to upgrade Pasir Gudang  Highway into a 6 Lane Highway. Another EXPRESS WAY  being proposed is the 6 Lanes Highway From AEON TEBRAU CITY ALL THE WAY TO KOTA MASAI.

NOTE: RIGHT NOW JKR IS BUILDING A 6 LANE WIDE CONNECTING ROAD (1.8Km) FROM BANDAR SRI ALAM TO TAMAN NUSA DAMAI. A RM20 Million Project ready by 2015. When Ready Taman Nusa Damai Will Become The Most Strategic & Valuable Place In Eastern Iskandar.

By Day Break I crossed the Beautiful & Picturesque Bridge over Senai -Desaru Highway. On both sides of the highway were Oil Palm Plantations – stretching for miles after miles.

Finally I arrived in Bandar Penawar & Desaru. Here, I had morning coffee break. It was a time to gather  some facts from the local people. There is a new found optimism here. The people told me property  prices have doubled in Desaru area but for Sungai Renggit & Pengerang house prices have Shot Up 4 Fold! And there is a constant stream of cars, lorries & long trailers passing by Desaeu to Pengerang daily. And for Weekend There Is A Surge of Tourists From Singapore & also all parts of Malaysia to Desaru.

After the short break I drove with heightened interest & curiosity in the direction of Pengerang – another  30 minutes journey! I had been to Sungai Renggit 7 years ago in year 2007. How is it now? What wil it be like after 7 years? These and many other questions raced through my mind as I got nearer and nearer Sungai Renggit Town. It was a really sleepy town, then. What is it like now?

There Is Really Nothing New  Here To Spring Any Surprise. As I approach the Sungai Renggit Rustic Town I saw the Same Old Dilapidated Wooden Houses on Both Sides of the Narrow and Dusty Roads. However, These Rickety Wooden Houses Sit On 4,800 to 5,000 sq ft Land. I wondered how much these run down Old Wooden houses on these Lands are worth.

At a Corner Coffee Shop I met the Lady Boss to make inquiry. She phoned Mr. Wong, the Local Housing Agent. Mr. Wong arrived within minutes.  And I had a time of briefing of The Tremendous Boom Time Here In The Pengerang Region.

“Those Wooden Old Houses You Saw On Both Sides Of The Road Are Leasehold With Only 30 Years Lease Remaining,” Mr. Wong Said. “And The Asking Price Is Between RM1.2 to RM1.3 Millions!,” He add further.

WOW! According to Ms Yong, Manageress of PUBLIC BANK, Taman Perling Branch, Johor – No Banks Will NOT Give Any Housing Loan For Properties Less Than 60 Years Lease Left.

“But These Buyers Paid CASH For Them – Yes! Millions In CASH DEAL!,” He replied. “You mean these Rickety, Run Down, Dilapidated Wooden Houses – Some Falling Apart are worth these prices?” I asked again in disbelief. “Yes, they are snapped up in no time once the “For Sale Sign” Is Put Up. Demand exceeds supply here,” Mr. Wong replied.

“Yes!”, the Lady Boss joined in the conversation.  And she add further, “Last year, a Wooden Shop House Was Sold For RM800,000. It is located away from the Main Road on a back lane. And it commanded such an exorbitant price. The seller should be glad for getting such a good price. But he is not happy at all. Because he said that after he sold price still race up to RM1.3 Millions right now!” “And these Old, Old Shop Houses Are Made of Wood,” you know?

“We are Baffled By These Crazy Asking Prices Now,” quipped Mr. Wong.  “Sometimes, even we Housing Agent hear incredulous and crazy asking prices from landlords & property owners alike. We dare not even quote these unheard of asking prices to prospective buyers. They might call us mad in asking for Such Sky High Prices!” But the Surprising Thing Is People Are Actually Paying  For Them – Ridiculous Prices  – Many Paid By CASH!

These Are The Facts. 2 Story Houses Are Selling For RM700,00 & Renting For RM3,500 per month. Since Demand Exceeds Supply There Are Not Enough Rental Houses at the moment. So people are paying almost RM2,000 for a small hotel room on a monthly basis. 4 workers will cramp into a small hotel room – the Hotel is converted from a 3 story Shophouse.

And Land Prices Have Gone Up 1,000% Around Sungai Renggit to Pengerang. Mr. Wong brought me to see a 6 Acre Oil Palm Land 5 km away from Renggit Town. The 6 acres land consist of 2 titles – The One Acre Piece is Freehold While the 5 Acre Piece is Leasehold.” The asking price is RM30 psf – Cheapest Now On Offer. Anyone Interested may call me 014-6101668 (Weekday only). Others nearer Town are going for RM80 to RM90 psf. So according to Mr. Wong this is a bargain – the land will be sold out soon or the landlord might raise asking prices.

Pengerang – From A Sleepy Fishing, Farming Region To BOOM TOWN!

What Is The Cause Of This Great Transformation? Is It Real And Permanent? Well, according to Mr. Wong there will be an influx of 50,000 to 60,000 Oil & Gas Workers in Pengerang.

The Pay Structure Of These Skilled Workers Are:

1) RM3,000 to RM4,000 for General Skilled Workers

2)RM7,000 for Middle Executives.

3)RM20,000 For High Ranking Managers.

60,000 Workers With Their Families Plus Downstream Demand For Goods & Services Like New Restaurants, New Housing, New Car Repair Shops, New Hair Saloons And So On And So Forth Will Multiply The Population to 300,000 or even Half a Million Strong!

The RM60 Billion Mammoth Oil & Gas Pengerang Project & The Proposed 3rd Bridge Link to Singapore Will Propel This Up Coming Region Into Another Dynamic Zone For Iskandar

LATEST UPDATE ON 26TH MARCH 2014

THE CAPEX FOR RAPID OF PENGERANG OIL & GAS HAS BEEN REVISED UPWARD TO RM190 BILLIONS –  THIS WILL MAKE PENGERANG THE HOTTEST DEVELOPMENT REGION ON PLANET EARTH!

No wonder there is a mad scrambling for all houses, lands, plantations and other limited and precious resources here. So great is the panic buying- prices have even overtaken Bukit Indah – the current reigning champion for Mass Housing from Malaysians working in Singapore! And at this frantic speed prices might even rise to match Horizon Hill, Puteri Harbour or even Singapore?!!!”

As I pulled away from Sungai Renggit it was already late afternoon.  By passing the exit to Kong Kong/ Kota Masai Exit I proceeded another 20 minutes to the Exit at Ulu Tiram. Here prices are still at a fraction of Nusajaya or Pengerang. Last year I bought a property here for a song through Johor High Court Auction – Only RM75,000 for a Freehold Semi-Detached House on 4,000 sq ft! A Real Bargain Indeed!

Like Kota Masai & Sungai Renggit – Ulu Tiram is a total laggard. So I have picked up 3 properties here. A Single Storey on 1,600 sq ft  for RM50,000, a Double Storey with 1980 sg ft (22′ by 90′ sq ft)  for RM142,000. And a Double Storey with 1,080 sg ft for RM73,000. All with Freehold Titles & I was the only sole bidder in High Court!

In Taman Perling, I called Mr. Tan Pao for a chit chat. He told me he just sold 2 houses in Nenas area, Taman Kota Masai. Both single storey for RM127,000 each. People are now bidding from Court Auction as high as RM120,000 now. And he sold 4 Units of Double Story Houses in Taman Air Biru for RM135,000. He had a total of 14 Double Story Houses in Taman Air Biru. Of the 14 he bought 10 units from Dana Harta at Only RM60,000 each.

Since the Double Story in Taman Air Biru can command a rental of RM1,000 to RM1,200 why let go at RM135K only. He told me he sold all 4 units at RM135K each to Investors. For the next 2 he has increased the price to RM145K per unit. He laughed as he said,”There are people who boast loudly that they own lots of houses, but upon further follow up they admitted that they only have two properties. As for me I could say I own an entire housing estate if I wanted to.”  This jovial man is the Champion in Kota Masai. He just bought another 8 houses recently – making him the owner of over 100 properties.

After Having Traveled Throughout Iskandar these 13 Years and Viewed More Than 10,000 houses in Iskandar I think Taman Perling Is The Most Central For Singaporeans. Houses may be old but does it matter. The Underlying Land Is Superior In Its Singapore Centric Location.

It was already late at night as I proceeded to Singapore by way of the New Nusajaya Highway. To my surprise I  saw Tall Construction Cranes Lighted Up Behind Lego Land. So I went to check on it. A Huge Brilliant Green Led Sign “THE MERIDIN” greeted me.

Contruction Work is Still Going On Into The Wee Hours of The Mid Night Till Day Break – 24 Hours Non Stop For AFINITY, THE MERIDIN & I MEDINI. These projects are by Capital Land, Mah Sing & WCT respectively. And the Place look Ultra Modern indeed. Comparable To The Very Best Any Where In The World Today!!!

I notice the LED LAMP POSTS ON BOTH SIDES OF THE HIGHWAY as I passed by NUSAJAYA. These LED LIGHTS Are Not Found Yet In Other Parts of Malaysia. The Light Emited Is Very White & Bright.

Soon I crossed into Singapore at Tuas.  For the First Time I saw a contrast – The Lamp Post on PIE/ECP In Singapore is still using the outdated old street lights. And The Construction of a small connecting flyover near Tuas has stopped work when day light fades. As I reached my Condominium (already 10 year old) it dawned on me that only  minutes away in Medini, Nusajaya – A Brand New World Is Now In Transformation.

SO ISKANDAR IS REALLY THE BEST KEPT SECRET IN THE WORLD TODAY!

IF YOU HAVE NOT YET INVESTED – WHAT ARE YOU WAITING FOR?

Calvin comments:

The Best Buy In BOOMING ISKANDAR ARE THESE

1) ALL SINGLE STOREY HOUSES PRICED BELOW RM250,000 Each

2) ALL DOUBLE STOREY HOUSES PRICED BELOW RM400,000 Each

3) ALL CONDOMINIUMS PRICED FROM Rm80,000 to Rm150,000 Each (Avoid High End Condos Above Rm500,000 as investment. If above Rm500K buy for own stay ok.

NOW IS THE BEST TIME TO BUY BEFORE HSR FROM KL - NUSAJAYA - SINGAPORE IS BUILT.

BEFORE SPORE THOMSON - JB CBD MRT IS BUILT

By then IT WILL BE TOO EXPENSIVE & TOO LATE TO BUY!

Calvin's further comments & Update on August 12 2024

If anyone has taken our advise to buy any single storey house in Johor for year 2016 by now he/she would have seen a 100% gain as Single Storey Houses are priced around Rm500,000 now in Taman Molek, Taman Johor Jaya, Taman Daya, Taman Perling & in JB City asking price for Single Storey is now above Rm600,000 a unit

Now let's see photos of Pengerang

Photos of Pengerang

Publish date: Tue, 26 Jan 2016, 11:08 PM

Photo No. 1

The New Highway to Pengerang's Rapid exiting from Bandar Penawar - Sg Renggit.

Graduates with degrees back home in Nepal might only get half his salary.

With such high pay and purchasing power Rapid inhabitants will get very high salary.

A Mammoth Rm170 BILLIONS Infusion of Projects Will Propel this Region to be

"THE HOTTEST OF HOT SPOTS ON PLANET EARTH"

Note: Property Prices & Rental in Pengerang has Skyrocketed 500% to 1,000% since the launch of RAPID.

Old Wooden houses on less than 30 years leasehold lands in Sungei Rengit are sold for over Rm1.3 Millions Cash. About 5,000 sq ft or more than Rm200 psf.

Rental of IJM Land Seabana Cove Townhouse are between Rm5,000 to Rm6,000 a month.

In Taman Desaru Utama 2 Storey Shophouses originally sold for Rm300,000 now command an asking price of Rm1 Millions.

These prices are even higher than Nusajaya, the current Hot Spot in Iskandar.

No Where Else in Johor or Whole of Iskandar or even Singapore Now Grow at Such Fantastic Rate!

JCorp has offered to taken Kulim private at Rm4.10. Kulim is planning 2 pronged Invasion of Pengerang by 2 housing enclaves.

One from Tanjung Berlungkor from the West of Pengerang where Singapore ferry lands. Another one is the end of Kulai Desaru Highway.

None of these are comparable to MphbCap's 1,800 Acres Super Prime Lands

Photo No. 6

SEE the Long Stretch of Highway in Pengerang - A 14 KILOMETER LONG COMPLEX FOR DOWNSTREAM OIL & GAS

All fenced up on the Right Is RAPID

Towards left at the 14 Kilometer Point is Palm Oil Plantations owned by MphbCapital

Photo No.7

Here you are.

The 1,800 Acres Prime Oil Palm Plantations by MphbCapital.

See the Lush Oil Palm Trees Stretching all the way up the rolling hills in the distance.

Book Value is only 82 cents PSF.

8 kilometers away is Sg Renggit. Lands there now command a value of Rm100 psf to Rm200 psf.

These Lands Will Be of Immense Value for Dow Chemical, Phillips 66, Exxon Mobil & All Japanese Industrialists for all Oil & Gas Downstream activities!

No reporter has yet mentioned these facts.

You are among the first one to SEE this.

This is my 3rd Trip to Booming Pengerang

There is GREAT EXCITEMENT IN THE AIR.

Can YOU feel it?

Noteworthy Notes:

Of the 1,800 Acres Lands Owned by MphbCapital

More than 1,000 ACRES ARE FREEHOLD, ABOUT 800 ACRES ARE LEASEHOLD. Almost all the Lands in Sungei Rengit, Bandar Penawar & Pengerang are Leasehold in title. Lands with Freehold Titles Are Rare.

Last time I SAW the potential of Perak Corp's 1,000 Acres Lands near Lumut in Perak. So I called for a Strong Buy on Perak Corp at 60 cents with NTA over Rm2.00.

Few people bought Perak Corp then at 60 cents. Perak Corp later surged 600% to over Rm3.60 and "experts" have said that Perak Corp is still undervalue and opposed privatisation at Rm3.90.

Perak Corp only have Vale, Tongher & TNB in Lumut. MphbCap's 1,800 Acres (80% more than Perak Corp's lands in Lumut) are just beside the HUGE  RAPID PETROLEUM REFINERY COMPLEX. 

To Buy MphbCap at Rm1.37 is buying at 2 DEEP DISCOUNTS

1) Buying at 43% Discount to Rm2.38 Off Market Deal When MWE Disposed 4 million shares to Surin?

2) Buying MPHBCAPITAL LANDS IN PENGERANG AT ONLY 82 Cents Book Value.

This Is Pemgerang's RAPID!

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Photo No.2

Notice the 2 lane road being upgraded to a 4 Lane Highway

.

Photo No. 3

Cars and motor bikes parked outside one of 2 Worksite Entrances in RAPID

Photo No.4

A peak into RAPID now under construction. Dialogue, Toyo, Muhibbah, Gadang and many others are here working feverishly.

Photo. No 5

Traffic into Rapid is so heavy with lorries & jeeps that this guy (a nepali) acts as a guard for vehicular traffic.

Notice him holding a red flag and a green flag.

Upon inquiry about his pay he replied, "Alhamdullilah, my pay is Rm1,800 per month"

Amazing pay! Standing only from 9 to 5 daily holding 2 flags get paid Rm1,800.

Calvin Additional Comments dated 12 August 2024

As of now MPHBCAP has been offered Rm1.70 to be taken private

See

KUALA LUMPUR (May 28): MPHB Capital Bhd (KL:MPHBCAP) said on Tuesday its controlling shareholder and chairman Tan Sri Surin Upatkoon plans to take the credit services provider private through a selective capital reduction totalling RM748.11 million.

Entitled shareholders will receive RM1.70 per share under the capital repayment proposed by Upatkoon and his family, who together control 43% of MPHB, according to a statement.

Further comments

With RAPID going into Downstream the 1,800 Acres of Oil Palm Plantations just beside PETRONAS REFINERY will now be converted to Industrial Purposes. After privatisation the New Owner can Reap Bountiful Profits

And now we SEE TSH RESOURCES' 13,335 ACRES OF LANDS SIDE BY SIDE IN KIPI, Tanah Kuning, Bulugan Regancy

The Updated Book Value is 38 sen Per Sq Ft (Still under Palm Oil plus it has 22 MT per Hectare FFB on 62% of its Palm Oil Estates)

While RAPID is the Place where Crude Oil is gathered & made into Petroleum & Naptha & Other By products of plastics, fertilizers & chemicals; KIPI Tanah Kuning is where Abundant Raw Material like Nickel, Copper, Silicon & others will be gathered from all over Indonesia & made in EV Battery, Solar Panels, Green Tech Products & Others for Export Worldwide

Both RAPID PENGERANG & KIPI TANAH KUNING, BULUGAN REGENCY Are Located Near Sea Ports for Easy Export All Over the World By Shipping Lines As the Waters are DEEP Enough

So the Rise of KIPI, Tanah Kuning as an Industrial Park will mirror the Rise of RAPID, Pengerang

And so the Value of TSH RESOURCES' 13,335 Acres will be As Valuable as MPHBCap's 1,800 acres beside RAPID in Pengerang

See

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See latest News on Kipi Tanah Kuning

Chinese project in Indonesia’s Kalimantan brings opportunities, controversy over growing clout

A black double-cabin, four-wheel-drive pickup truck stopped in front of a fresh fish store in Kampung Baru, Mangkupadi village, in North Kalimantan, and three Chinese nationals and one Indonesian exited the vehicle. They went inside and spent more than 30 minutes inspecting and selecting fish before leaving.

Kaesi, the store owner, could not hide her smile after they left. It was not only because the group had spent almost 500,000 rupiah (US$30.70) but also that other Chinese customers had entered her store afterwards and spent even more, leaving her with a tidy profit.

“They don’t seem to worry about money. They can spend around 500,000 to 1 million rupiah each time they shop here,” the 35-year-old woman told This Week in Asia.

They have brought with them new business opportunities but also controversy over their growing influence, with some locals complaining the project and its workers are being prioritised over their rights.

KIPI has also been designated as one of Indonesia’s National Strategic Projects, which are considered crucial to the country’s development and given special mechanisms and regulations to accelerate their construction. The project will eventually cover 30,000 hectares (74,130 acres) of land in Mangkupadi and Tanah Kuning village on the eastern coast of North Kalimantan.

Although official records about the companies involved with KIPI are difficult to find, the Nugal Institute, a think tank that has been collecting data about the project, said it could confirm two Chinese companies, Tsingshan Holding Group and Taikun Petrochemical, were involved with the industrial park, as well as two Chinese contractors, China State Construction Engineering Corporation and China Railway Engineering Consulting Group.

There is also no official data on the number of Chinese workers at KIPI either, but locals estimate them to number in the hundreds already.

Merah Johansyah, a coordinator of research and management at Nugal, said KIPI needed to be audited due to the lack of transparency surrounding it. He also cited a number of workers’ rights issues they had documented, including companies not giving workers proper contracts, making them vulnerable to underpayment and summary lay-offs.

“That’s why we urge this project to be audited. How can they let the Chinese enter this country freely and get paid more, while local labourers have no working contracts?” Merah told This Week in Asia.

Findings by Nugal coupled with testimony from residents in the area revealed incidents of illegal land seizures related to the project, with some locals claiming they were forced off their land or required to sell it for less than its value.

Yosran Efendi, a campaign manager at the non-profit Sustainable Forest Circle Association, said locals had not filed any official reports about this because they were too afraid to go to the police or go to court due to intimidation from the companies, which had threatened them with legal action if they refused to give up their land.

One interviewee, who wished to remain anonymous, told This Week in Asia that the companies had also placed spies in the community, making locals afraid to speak up about it.

“We are too afraid to protest, because it’s us against the government,” she said.

For that reason, Yosran said they would bring local representatives to Jakarta to meet the country’s Human Rights Commission (Komnas HAM) next month. “We will facilitate their meeting with Komnas HAM. We hope the commission can take action on this case,” Yosran said.

The Indonesian government has received numerous accusations of human rights violations in relation to National Strategic Projects such as KIPI. In June, Komnas HAM said it documented at least 1,675 cases of human rights abuses over the past three years related to National Strategic Projects, mainly over land disputes and environmental damage.

Lena Purnama Sari, head of the land agency of Bulungan Regency, denied that there had been any issues regarding land compensation for locals related to the project, insisting that KIPI had carried out everything legally.

“If there’s a problem, I believe it comes from someone who doesn’t have [valid rights to land] there. They’re just riding the wave to get some money,” Lena said.

No one at KIPI could provide a statement when This Week in Asia visited its office, as the managers were said to be out on business. A security head who gave his name as Wibowo said “prior notice” was needed for interviews and promised to forward any message to management. However, no response to interview requests had been received as of the time of publication.

Seizing opportunity

Kaesi, for her part, is happy about the project, saying she and her husband’s lives have been improved by the many Chinese workers who have become their regular customers.

Before KIPI came to town, Kaesi’s husband was a traditional fisherman who sold only a small amount of fish. Earlier this year, they began collecting fish from other villages and districts through a “trial-and-error” method to discover what appealed to Chinese taste buds.

It took them months to learn that the Chinese prefer largehead hairtail, moray, grouper, and even sea cucumbers – all species that find little favour among Indonesians.

Their fortune climbs every time the Chinese have special events, such as Lunar New Year or Yuan Xiao Festival, which is celebrated on the fifteenth day of the first month in the lunisolar Chinese calendar.

“That’s why we’re planning to put a Chinese calendar in our store so we know their special dates,” Kaesi said.