News

Bank Negara Malaysia Holds Overnight Policy Rate at 3% Amid Positive Economic Prospects Bank Negara Malaysia (BNM) announced today that it will maintain the overnight policy rate (OPR) at 3%, a decision aimed at sustaining economic momentum while balancing inflationary pressures. This rate aligns with the central bank’s current evaluation of economic growth and inflation outlook. “At the current OPR...

Mah Sing Group Acquires Prime Parcel on Old Klang Road for M Aurora Transit-Oriented Development Mah Sing Group Bhd (KL) has recently acquired a strategic 5.24-acre freehold parcel on Old Klang Road, Kuala Lumpur, from Team Keris Bhd for approximately RM113 million. This acquisition sets the stage for the development of M Aurora, a new transit-oriented development (TOD) expected to attract urban dwellers...

Recent articles have sparked debates around the roles of professional property managers versus building managers, highlighting misunderstandings about the distinctions between the two. While building managers handle operational tasks, they lack the comprehensive expertise required for strategic and long-term management of complex strata properties. Here’s why professionally-trained property managers...

Matrix Concepts’ Levia Residence in Cheras Reaches 70% Take-Up Rate Since Launch Matrix Concepts Holdings Bhd (KL) announced that its Levia Residence condominium in Cheras has achieved a 70% take-up rate since its official launch in January 2024. With a gross development value (GDV) of RM522 million, the development spans a 4.7-acre tract and comprises two 36-storey towers offering a total of 778...

Mah Sing Group Bhd has signed a second collaboration agreement with Bridge Data Centres (BDC), backed by Bain Capital, to further develop Mah Sing DC Hub at Southville City. The project, spanning approximately 36 acres, is set to add 200MW of power capacity, establishing the hub as a major player in Malaysia’s digital infrastructure landscape. This new agreement builds upon an initial deal signed in May...

The reinstatement of five stations on the LRT3 line in Shah Alam, Selangor, will now cost RM5.3 billion, exceeding the earlier estimate of RM4.7 billion, according to Deputy Transport Minister Hasbi Habibollah. This increase was disclosed during a Dewan Rakyat session, though specific cost breakdowns were not provided. The revived stations — Tropicana, Temasya, Raja Muda, Bukit Raja, and Bandar Botanik...

Should There Be a Limit on Investment Properties to Address Affordable Housing Shortage? A proposal to cap the number of properties individuals can purchase for investment has sparked debate in Malaysia. The National House Buyers Association (HBA) believes that while it makes sense to limit the number of affordable homes an individual can buy, extending this cap to all property categories could unfairly...

TRX Mall’s Impact on Malaysian REITs: Minimal Disruption to Luxury Retail Landscape Kenanga Research has assessed the influence of The Exchange TRX Mall on Malaysia’s established luxury mall market, finding a limited impact on Real Estate Investment Trusts (REITs) that hold stakes in Kuala Lumpur’s prominent luxury malls. While TRX Mall has positioned itself as a new destination for luxury shopping...

Sarawak Energy to Power State’s First Energy-Efficient Tier Four Data Centre Park Sarawak Energy Bhd (SEB) will provide power for Sarawak’s innovative Sarawak Data Centre Park (SDCP), an advanced tier four data centre hub aimed at supporting the state’s ambitious digital economy goals. This cutting-edge project, managed by Netrunner Sdn Bhd in collaboration with SEB’s subsidiary, Syarikat Sesco...

Langkawi’s Tourism Boom: 3 Million Tourist Target Within Reach by Year-End Langkawi is experiencing a strong resurgence in tourism, recording 2.1 million tourist arrivals from January to September 2023. This achievement represents about 75% of the island's 3 million visitor goal for the year, signaling robust growth for Malaysia’s premier island destination. Langkawi Development Authority (LADA) CEO,...