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...

In the heart of Kuala Lumpur, The Exchange 106 rises majestically as Malaysia's second-tallest building, symbolizing the nation's relentless pursuit of architectural excellence and innovation. Standing at a towering 454 meters, this skyscraper is not just a testament to modern design but also a marvel of engineering. Developed by Mulia Group Architects and led by Chief Development Officer Ali Moghaddasi,...

Binastra Corp Bhd (KL), formerly known as Comintel Corp Bhd, has successfully secured a substantial RM235.5 million contract from Mightyprop Sdn Bhd. This contract involves the construction of a 39-story serviced apartment building in Petaling Jaya, Selangor, further solidifying Binastra's reputation in the construction industry. The contract, awarded to Binastra's subsidiary, Binastra Builders Sdn Bhd,...

Malaysia's property market is on a strong upward trajectory, with the first half of 2024 (1H2024) marking a significant milestone. The National Property Information Centre (Napic) reported that the property transaction value reached RM105.65 billion, a 23.8% year-on-year (y-o-y) increase, the highest growth in five years. This substantial growth underscores the resilience and recovery of the sector, fueled...

Malaysia is poised to attract more than RM50 billion in foreign direct investments (FDI) annually by 2030, barring any unforeseen economic disruptions. This projection, detailed by UOB Global Economics and Markets Research, highlights the nation's continued appeal to international investors and its resilient economic landscape amidst global uncertainties. Steady Growth in FDI According to UOB Global...