News

Iconic Marjorie Hotel: A New Benchmark for Penang’s Hospitality Iconic Penang Sdn Bhd (Iconic Group) has unveiled its latest luxury addition, the Iconic Marjorie Hotel, a Marriott International Tribute Portfolio property, in Sungai Nibong, Bayan Lepas. Soft-launched on Dec 28, 2024, this RM180 million development is the first hotel in Penang to achieve the Green Building Index (GBI) rating, setting new...

MCMC and Melaka Government Collaborate on Digital Transformation The Malaysian Communications and Multimedia Commission (MCMC) has formalized a strategic partnership with the Melaka government through the Kampung Digital Melaka (KDM) Initiative, marking a significant step toward digital transformation in Malaysia. The initiative aims to equip all premises in Melaka with a complete and systematic address...

Kuala Lumpur-Singapore HSR: A Private Sector Opportunity The much-anticipated Kuala Lumpur-Singapore High-Speed Rail (HSR) project may see a revival, but only with full participation from the private sector, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim. Speaking at a joint press conference with Singapore’s Prime Minister Lawrence Wong, Anwar emphasized that the government is prioritizing...

Johor-Singapore SEZ: A Vision for Regional Growth The Johor-Singapore Special Economic Zone (JS-SEZ) is set to be a transformative initiative, boosting economic activity, creating jobs, and strengthening ties between Malaysia and Singapore. However, while the potential is immense, economists stress the importance of clear tax incentives and robust infrastructure to attract investors. Key Economic...

Competitive Pressures in Johor's Data Centre Sector The Malaysian data centre market, especially in key hubs like Johor, is experiencing intense competition, potentially sidelining smaller players with limited resources. According to BMI, a unit of Fitch Group, financial capabilities are crucial for success as larger players consolidate their presence in favourable locations. Johor: Malaysia's...

Johor-Singapore SEZ: A Milestone for Regional Economic Integration The signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement on Tuesday heralds a transformative chapter in Malaysia’s collaborative efforts to drive regional economic development. This landmark agreement is expected to position Johor as a premier hub for high-tech industries, green technology, and advanced manufacturing...

Security and Efficiency at KLIA’s Immigration Autogates The introduction of a Quick Response (QR) code system at Kuala Lumpur International Airport (KLIA) for autogate immigration clearance aims to revolutionize efficiency without compromising security, especially for foreign nationals entering Malaysia. Comprehensive Security Protocols The Immigration Department assured that strict measures are in...

Malaysia’s Tourism Milestone: 1 Million Indian Tourists in 2024 Malaysia has reached a remarkable milestone, welcoming 1 million Indian tourists as of November 2024. This achievement represents a 71% year-on-year increase and a 47% rise compared to pre-pandemic levels in 2019, according to Malaysia's Minister of Tourism, Arts, and Culture, Tiong King Sing. Key Drivers of Growth Several factors...

The much-anticipated Penang Light Rail Transit (LRT) project is finally set to break ground on January 11, 2025, at Bandar Sri Pinang, according to a report from CIMB Securities. Gamuda Leads the Pack Gamuda Bhd has emerged as a top beneficiary of the Mutiara Line, which is the first segment of the Penang LRT project. Its SRS Consortium was awarded the civil infrastructure works package in March 2024...

Bank Negara Malaysia (BNM) is expected to lower the Overnight Policy Rate (OPR) to 2.75% in 2025, compared to the current 3.0%, according to economic analyst Associate Prof Dr. Ahmed Razman Abdul Latiff. Speaking to Utusan Malaysia, Dr. Ahmed Razman explained that the reduction could align with the United States Federal Reserve's recent interest rate cut to 4.5%. He noted, "In 2022, when the US interest...