Malaysia's MRT Corp will commence the land acquisition process for the Mass Rapid Transit Line 3 (MRT3) Circle Line project starting in 2024, according to Transport Minister Anthony Loke. The process is expected to take two years to finalize. To minimize the cost of land acquisition for the government, MRT Corp will actively cooperate with property developers to integrate the MRT3 stations. Loke stated...

Several state government-owned companies from Selangor, Malaysia, have expressed strong interest in investing in the development of Indonesia's new capital city, Nusantara, according to Invest Selangor, the state's investment promotion agency. These companies are involved in various sectors, including residential construction, health services, renewable energy, and waste management. Invest Selangor's CEO,...

Overhang properties in Malaysia include a significant number of residential units priced between RM500,001 and RM700,000, making up the second largest group at 15%, according to CBRE | WTW Malaysia group managing director Tan Ka Leong. He shared this surprising finding during a presentation at the CEO Series 2023 (Economy & Business Forum), organized by Rehda Institute. Tan emphasized the need for...

The Upin Ipin Theme Park, originally planned for development in Alor Gajah, is now in the final stages of negotiations between popular animation film company Les' Copaque Production Sdn Bhd and MCorp. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh stated that negotiations regarding the terms and conditions for utilizing 55.85 hectares of land earmarked for new tourism products in the state are expected to...

As we step into 2024, Malaysia is set to implement a series of significant economic and policy changes. These reforms, effective from January 1, are designed to address various national and global economic challenges, balancing revenue generation with public welfare and economic stability. Key Policy Changes Sugar Tax Increase Implementation: Starting January 1, 2024. Details: The domestic...

Impiana Hotel Bhd has officially rebranded itself as Magma Group Bhd, effective immediately, according to a filing with Bursa Malaysia. The change in company name comes after a significant acquisition by Datuk Seri Lee Hock Seng and Datin Seri Joanne Yew Hong Im, who emerged as the largest substantial shareholders of the group in August. The duo acquired 120.8 million shares, representing a 19.9% stake in...

Starting in the first six months of 2024, high electricity consumption households, along with commercial and industrial (C&I) users in the Kulim Hi-Tech Park (KHTP) located in Kedah, Malaysia, will experience a surcharge of 6.5 sen per kilowatt-hour (kWh) on their electricity tariffs. This rate is higher than the 5.39 sen per kWh surcharge imposed on C&I users in KHTP in the second half of...

The restoration of Stadium Merdeka and the development of the Merdeka 118 Tower in Kuala Lumpur represent a significant milestone in Malaysia's growth as a nation. Merdeka 118, set to open its doors by the end of this year, is an iconic building that stands as a testament to Malaysia's progress. Owned by Permodalan Nasional Bhd (PNB) through its subsidiary, PNB Merdeka Ventures Sdn Bhd, this landmark...

In a recent post on his official Facebook page, Prime Minister Datuk Seri Anwar Ibrahim underscored the importance of fostering a creative and investor-friendly investment environment in Malaysia. He called upon all relevant parties to work together in accelerating the country's national development process to achieve its goals effectively. Speaking during the 43rd National Physical Planning Council...

Axis Real Estate Investment Trust (Axis-REIT) is set to expand its diverse portfolio with the proposed acquisition of Temerloh Mall, a two-storey shopping complex located in Taman Damai, Temerloh, Pahang. The RM25.75 million cash transaction, subject to regulatory approval, reflects Axis-REIT's strategic approach to providing unitholders with consistent income distributions and enhancing its net asset...