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...

The Mass Rapid Transit (MRT) Circle Line, also known as MRT3, is set to transform the Klang Valley’s transportation network by offering enhanced connectivity to various parts of the city. The 51km route, scheduled for completion in 2032, will integrate with existing MRT, LRT, KTM, and Monorail lines, providing quicker commutes and easier access to areas previously underserved by public transport. This...

Foreign investors continued their positive trend in Malaysian equities, marking the sixth consecutive week of net inflows, with a total of RM271.5 million recorded for the week ending September 20, 2024. According to MIDF Amanah Investment Bank Bhd (MIDF), the sustained buying momentum signals confidence in Malaysia's stock market, supported by foreign interest across key sectors like financial services...

Over the years, Sabah and Sarawak have increasingly pushed for greater autonomy and equal partnership within Malaysia, as envisioned under the Malaysia Agreement 1963 (MA63). This momentum has grown, with many in these two East Malaysian states calling for more control over resources, development, and decision-making power. In light of the political landscape following the 2022 general election, these...

The Malaysian government has introduced a series of tax incentives to accelerate the development of Forest City as a key financial hub. Located in Johor, this 1,400-hectare private development has struggled to meet its ambitious growth targets since its inception, but these new incentives aim to position Forest City as a global financial and economic hub. Special Corporate Tax Rates and Personal Income...

As we look ahead to the second half of 2024, several key factors will shape Malaysia's foreign investment landscape, with significant implications for the nation's economic performance. While the first half of 2024 (1H2024) showcased promising growth in Foreign Direct Investment (FDI), especially in technology and manufacturing sectors, the real challenge lies in materializing these approved investments to...

In a significant move aimed at bolstering its presence and operations in Malaysia, Country Garden Group has announced the establishment of a dedicated Malaysia Division. This strategic initiative comes at a pivotal time, as Forest City, a flagship project under the Country Garden portfolio, continues to gain traction due to Malaysia’s revised Malaysia My Second Home (MM2H) policy, its new status as a...

The revival of Malaysia’s Mass Rapid Transit 3 (MRT3) project is poised to significantly impact the country’s construction industry, providing a major boost to various key players in the sector. According to CGS International (CGSI) Research, prominent companies such as Gamuda Bhd, YTL Corp Bhd, and HSS Engineers Bhd stand to benefit greatly from this mega infrastructure project. Key Beneficiaries...

Econpile Holdings Bhd has successfully secured a significant contract worth RM71.19 million, awarded by Thens Architect on behalf of Platinum Victory Property Sdn Bhd. The contract involves crucial work on a high-rise development located at Jalan Sultan Ismail, one of Kuala Lumpur’s prime areas. Project Scope and Details The contract, designated as Package 1, covers the demolition, substructure, and...

Affin Bank Bhd (KL) has introduced its private banking service, Affin Diventium, aimed at serving ultra-high net worth individuals with investable assets of RM2 million or more. This move underscores the bank’s commitment to offering tailored, premium services to its wealthiest clientele, providing them with a wide range of personalised financial solutions. With Affin Diventium, clients will have access...