In line with market expectations, Bank Negara Malaysia (BNM) has opted to maintain its benchmark Overnight Policy Rate (OPR) at 3% during its fourth Monetary Policy Committee (MPC) meeting for 2024. The decision comes as the country enjoys sustained economic growth and benign inflation, providing a stable backdrop for future expansion. According to a Bloomberg survey, all economists predicted that the...

Lendlease, Australia's largest property developer, builder, and real estate investor, reported a significant widening of its annual loss, attributing the downturn to the impacts of a strategic overhaul and delays in reviewing the sale of key community projects. The company reported a full-year loss after tax attributable of A$1.50 billion (US$1.00 billion), a sharp increase from the A$232 million loss...

Eastern & Oriental Bhd (KL&O) has officially launched its latest luxury apartment development, The Lume, located on the 760-acre Andaman Island master plan in Penang. This development marks a significant addition to the first phase of the Andaman Island project, which spans 253 acres and is segmented into three districts: Shoreline, Gurney Green, and Canalside. The Lume is strategically situated in...

Sunway Medical Centre (SMC), located in the heart of Sunway City, has recently added another feather to its cap by achieving the globally recognised Joint Commission International (JCI) Accreditation. This prestigious recognition, The Gold Seal of Approval under JCI's Hospital Program, distinguishes SMC as the first hospital in Malaysia to hold three major hospital-wide accreditations, including...

Sarawak is on the brink of a significant transformation in its public transportation landscape, with the upcoming Kuching International Airport (KIA) ART station poised to play a central role. Coded SR06, this station is part of the ambitious Kuching Urban Transformation System (KUTS), a project that promises to revolutionize how people move within the region. The most recent video released by Sarawak...

Concorde Hotel Kuala Lumpur, a well-known four-star establishment in the city’s bustling Jalan Sultan Ismail, is now on the market for nearly RM700 million. The sale includes the hotel as well as an adjacent piece of prime freehold land, spanning a total of 4.5 acres. Sources reveal that the potential buyer will likely demolish the hotel to pave the way for a multibillion-ringgit integrated...

The Malaysian industrial market is experiencing a significant boost as international players continue to enter the market, driven by the global supply chain diversification strategy known as China Plus One. This strategic shift, aimed at reducing dependency on China by diversifying sourcing and production locations, has been a key factor in attracting global companies to Malaysia. Growth in KL’s...

In July 2024, Malaysia Airports Group recorded a significant milestone with 12.4 million passenger movements, marking a 7.3% increase from the previous month. This achievement not only represents a new monthly high in the post-pandemic era but also underscores the ongoing recovery and growth in air travel. Strong Performance at Local Airports The robust growth in passenger movements was primarily...

The Johor Zoo, one of Malaysia's most historic and beloved attractions, celebrated a momentous reopening on National Day, drawing nearly 20,000 visitors in a single day. After being closed for three years, the zoo welcomed back the public with open arms, marking a significant milestone in its long history. A Historical Day for Johor Zoo The reopening of Johor Zoo on National Day was nothing short of...

Malaysia’s economy continues to show resilience and growth, with a stronger-than-expected performance in the second quarter of 2024 (2Q2024) prompting economists to revise their forecasts upward for the country's gross domestic product (GDP) growth this year. The economic expansion is largely attributed to robust domestic spending, investment activity, and a notable recovery in the tourism...