Yong Tai Bhd, a tourism-related property developer, announced on Wednesday the sale of its five-star Courtyard by Marriott Melaka hotel for RM160 million. This sale follows a report by The Edge Malaysia in late July, confirming speculation about the sale of the 248-room hotel. The hotel, which began operations in April 2022, had a net book value of RM113.84 million according to Yong Tai’s 2023 annual...

Kuala Lumpur City Hall Receives Global Recognition with SAG Award for Innovative GIS Project For the first time, Kuala Lumpur City Hall (DBKL) has gained worldwide recognition by receiving the Special Achievement in GIS (SAG) Award 2024 from ESRI Inc. at the ESRI Conference held in San Diego, California, on July 17. This prestigious award was granted in acknowledgment of the Kuala Lumpur Underground...

Lofthill Residence by Armani represents a new pinnacle of luxury living in Kuala Lumpur. Strategically located on Jalan Raja Uda, just minutes away from the iconic KLCC, this high-rise development offers an unmatched combination of modern design, strategic location, and world-class amenities. As a landmark project by Armani, Lofthill Residence is designed to cater to the needs of discerning urban dwellers...

Bank Negara Malaysia (BNM) announced that its international reserves increased by 1.05% to US$115.9 billion (RM507.35 billion) as of August 15, 2024, compared to US$114.7 billion (RM502.08 billion) as of July 31, 2024. In a statement, the central bank emphasized that this reserves position is sufficient to finance 5.4 months of imports of goods and services and is equivalent to one time the total...

Prime Minister Anwar Ibrahim has announced plans to transform the area from Dataran Merdeka and the Sultan Abdul Samad Building to the National Mosque in Kuala Lumpur into a designated heritage zone. This initiative aims to emphasize Malay heritage and culture in one of the nation’s most historic and culturally significant areas. A Focus on Malay Heritage Speaking at the launch of the Bumiputera...

The upcoming Rapid Transit System (RTS) link, set to commence operations in 2026, is expected to significantly alter the retail landscape in Singapore. Connecting Singapore with Johor Bahru, Malaysia, the RTS Link will offer a convenient travel option, making it easier for Singaporeans to shop across the border. As a result, Singaporean retailers are being advised to adapt their strategies to remain...

Capitaland Malaysia Trust Eyes Industrial and Logistic Assets in Johor Amid Positive Economic Sentiments Capitaland Malaysia Trust (KL) is setting its sights on expanding its portfolio with more industrial and logistic assets in Johor, driven by the region's robust demand and positive economic sentiments. This strategic move comes after CLMT's acquisition of three prime freehold ready-built factories in...

Korean investment firm GG56 Korea Ltd has committed a significant investment of US$1 billion (RM4.37 billion) in Forest City, Johor Bahru, to establish Malaysia's first Korean Culture (K-Culture) Town. The announcement was made by the master developer of Forest City, Country Garden Pacificview Sdn Bhd (CGPV), following the signing of a memorandum of agreement (MoA) between the two companies. A Landmark...

The construction of the Rapid Transit System (RTS) Link, which will connect Johor Bahru and Singapore, has reached 83% completion as of July this year, according to Transport Minister Anthony Loke. The project remains on schedule, with operations expected to commence on January 1, 2027. Progress and Upcoming Milestones Transport Minister Anthony Loke confirmed that the construction of the RTS Link is...

The East Coast Rail Link (ECRL) project, a critical infrastructure development in Malaysia, has reached a significant milestone with an overall completion rate of 70.13% as of July 2024. Scheduled for full completion in December 2026, the ECRL promises to revolutionize Malaysia's cargo and passenger transport capabilities, particularly in the east coast regions. Progress and Timeline Transport Minister...