News

Four Multinational Firms Cease Operations in Malaysia in 2024 During the first half of 2024, four multinational firms with total investments amounting to RM7 billion have ceased operations in Malaysia, according to Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz. This significant development includes companies from the rubber-based product, transport, iron and steel, and...

Mercure, the renowned locally inspired brand from Accor, proudly announces the opening of Mercure Kuala Lumpur Trion. This contemporary hotel, rising above the Kuala Lumpur skyline, welcomes travelers to a vibrant and culturally rich atmosphere deeply connected with the local community. Strategic Location and Accessibility Strategically located within the Trion @ Kuala Lumpur complex, Mercure Kuala...

Malaysia's journey towards becoming a regional hub for data centres is driven by a confluence of strategic factors, including economic stability and robust connectivity. These elements make the country highly attractive for digital-related investments and position it as a key player in Southeast Asia's data centre industry. Strategic Factors Driving Growth According to Dr. Mohd Naz’ri Mahrin, Dean...

Taiwanese circuit board materials manufacturer Elite Material Co Ltd (EMC) has commenced construction of a new RM900 million manufacturing facility at the Penang Science Park North near Batu Kawan. This significant investment marks a notable addition to Penang's robust industrial landscape and highlights the state's attractiveness for multinational corporations. Facility Details and Construction...

Sunway Property has achieved an impressive 95% take-up rate for the third phase of Sunway Aviana in Johor within just a month of its launch. This milestone highlights the growing demand for this exceptional residential project, which is part of the integrated Sunway City Iskandar Puteri. Success of Previous Phases The first two phases of Sunway Aviana, comprising 259 units launched in the fourth...

Bank Negara Maintains OPR at 3% Amid Positive Economic Indicators Bank Negara Malaysia has decided to keep the Overnight Policy Rate (OPR) unchanged at 3%, following the conclusion of its two-day Monetary Policy Committee (MPC) meeting. This decision aligns with economists' expectations and maintains the benchmark lending rate at its level since the last increase of 25 basis points in May...

The Malaysian government has reinstated the cabotage policy in Sarawak to protect local cargo shipping companies from foreign competition. Transport Minister Anthony Loke announced the decision, emphasizing the importance of sustaining local businesses and maintaining economic stability in the region. Rationale Behind the Reinstatement Transport Minister Anthony Loke stated that the decision to...

Penang's Semiconductor Industry: The Silicon Valley of the East Attracts Major Investments In recent years, Penang, Malaysia, has emerged as a major hub for the semiconductor industry, earning the nickname "Silicon Valley of the East." This transformation is a result of strategic investments, favorable global conditions, and a solid industrial foundation built over decades. Surge in Foreign Direct...

Courtyard by Marriott has opened its latest hotel, Courtyard by Marriott Kuala Lumpur South, on Jalan Puchong, Kuala Lumpur. This new addition is part of the 5.2-acre (2.1-hectare) Bloomsvale @ OKR mixed development by Kerjaya Prospek Property Bhd. The hotel's strategic location and luxurious amenities are set to enhance Marriott International’s presence in Malaysia. Launch Announcement Marriott...

RTS Link Project Costs Rise by 29.9% to RM5.24 Billion: Auditor-General’s Report The estimated cost of the Rapid Transit System Link (RTS Link) infrastructure project has surged by 29.9%, reaching RM5.24 billion as of December 31, 2023. This increase, up from the original estimate of RM4.03 billion in January 2018, highlights several key factors driving the escalation in expenses. Reasons for Cost...