TSR Capital Bhd (KL) has secured a RM75 million contract to undertake construction works at Elmina Business Park 2 in Gombak, Selangor, according to a bourse filing made on Wednesday. The contract was awarded to TSR Capital's wholly-owned subsidiary, TSR Bina Sdn Bhd, by Sime Darby Property Bhd (KL). The scope of the project involves extensive site clearance and earthworks, including erosion and sediment...

Google has launched the Future Skills for All (FS4A) initiative, a digital training program aimed at empowering teachers and students in Malaysia. As part of this initiative, 260 teachers in Selangor will be trained to provide digital education to 61,000 students across the state. This program was unveiled at the Mantap Malaysia Bersama AI event in Kuala Lumpur, marking another milestone in Google’s...

NCT Alliance Bhd (KL), a construction and property development group, is set to expand its presence in Sabah through the acquisition of a 51% equity interest in Setara Juara Sdn Bhd, a company holding the development rights to 101.037 hectares of land in Dumpil Bay, along Jalan Kota Kinabalu-Lok Kawi. This prime land is earmarked for a mixed-development project with an estimated gross development value...

The Securities Commission Malaysia (SC) has released detailed conditions for Single Family Office Vehicles (SFOVs) to qualify for the 0% concessionary tax rate, a key incentive announced to boost investment in the Forest City special financial zone. Among the essential requirements is that SFOVs must manage at least RM30 million in assets under management (AUM), with a minimum local investment of 10% of...

Chin Hin Group Property Bhd (KL) has announced a significant partnership with Atlan Holdings Bhd (KL) to jointly develop a high-rise project in Johor Bahru, with an impressive gross development value (GDV) of RM478.42 million. The project marks a notable expansion for both companies in Johor Bahru, an area with increasing demand for residential and retail spaces. This joint venture is expected to deliver...

BMI Country Risk & Industry Research (BMI), a unit of Fitch Solutions, has revised its end-2024 forecast for the ringgit to RM4.00 per USD, up from its previous estimate of RM4.55 per USD, reflecting the currency’s robust performance in Q3 2024. The revision comes amid narrowing yield differentials with the United States (US) and a relatively resilient growth outlook for Malaysia. Positive...

Malaysia is experiencing a significant increase in interest from Chinese nationals for luxury homes, driven by attractive investment opportunities and a thriving education sector. Prime locations in Kuala Lumpur, such as the Central Business District (CBD), Bukit Damansara, Bangsar, and Kenny Hills, are now at the forefront of this trend. Real estate firms have reported that the interest in Malaysian...

Starting from October 1, 2024, Singapore-registered vehicles entering Johor without a Vehicle Entry Permit (VEP) can continue to do so as usual, but enforcement of the VEP requirement will begin in phases, according to the Road Transport Department (JPJ). Phased Implementation of VEP In the first phase, Singaporean vehicles without the required RFID VEP tags can still enter Malaysia without any...

The strengthening of the ringgit against the US dollar, driven by positive macroeconomic developments and Bank Negara Malaysia's (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.00%, is set to invigorate Malaysia’s property market. This presents a unique opportunity for homebuyers and investors to capitalize on favorable conditions. Positive Effects of a Strengthened Ringgit on Property...

Magma Group Bhd (KL) has announced a key acquisition that strengthens its foothold in the Kuala Lumpur property market. The hospitality and property development firm is purchasing a 2.26-acre plot of land in the Persiaran Dutamas area for RM80 million, with plans to develop serviced apartments and commercial spaces. Notably, former national badminton icon Lee Chong Wei will emerge as a significant...