News

NCT Alliance: Q3 2024 Financial Highlights NCT Alliance Bhd (KL) announced its financial results for the third quarter ending Sept 30, 2024 (3QFY2024), revealing a mixed performance with notable revenue growth but a decline in net profit. Financial Overview NCT Alliance’s net profit for 3QFY2024 decreased by 35.6% to RM6.52 million compared to RM10.12 million in the same quarter last year. The...

Penang Targets 220,000 Affordable Housing Units by 2030, Supporting Homeownership for Low- and Middle-Income Residents The Penang government has delivered 170,000 affordable housing (RMM) units to date as part of the Penang2030 vision to provide affordable homeownership options for low- and middle-income groups. This initiative aims to reach 220,000 housing units by 2030, potentially benefiting around one...

Bali Escape Kuala Lumpur: A Tropical Retail Haven in the Heart of Pudu M&M Ventures Holdings Sdn Bhd has launched its maiden project, Bali Escape Kuala Lumpur (BEKL), a vibrant new retail park in Pudu, Kuala Lumpur. With a RM50 million investment, this one-of-a-kind destination aims to redefine shopping and leisure with a tropical twist. Set to open in the third quarter of 2025, BEKL spans four acres...

Langkawi Targets Three Million Tourists with Cruises, Charter Flights, and New Attractions Langkawi is set for a record-breaking year as it anticipates the arrival of three million tourists, an increase from the 2.8 million visitors in 2023. With a boost in cruise visits and new chartered flights from Poland, Langkawi Development Authority (LADA) chief executive Datuk Haslina Abdul Hamid is confident that...

Sabah and China Strengthen Ties for Regional Economic Growth A recently concluded Sabah-China Business Summit has laid the foundation for enhanced economic collaboration, aligning Sabah’s development goals with China’s technological and investment capabilities. Hosted by the Sabah government and organised by the state Industrial Development and Entrepreneurship Ministry, the event brought together...

Southeast Asia’s Internet Economy Faces Slowest Growth, Shifts Focus to Profitability Amid Rising Competition Southeast Asia (SEA) is experiencing its slowest internet economy growth on record this year, as rising inflation, high interest rates, and a shift in focus from revenue expansion to profitability dampen consumer demand. Research from Google, Temasek Holdings, and Bain & Co. reveals that...

KL Wellness City Phase One: Redefining Healthcare and Wellness in Bukit Jalil KL Wellness City, a 26.5-acre mixed-use development in Bukit Jalil, is on track to redefine healthcare and wellness in Malaysia. With 40% of phase one completed, the project marks a significant milestone in creating a fully integrated health and wellness community. At a recent press conference, Datuk Seri Vincent Tiew,...

Electric Vehicles: China Leads the Charge as Malaysia Prepares for an EV Boom Electric vehicles (EVs) are rapidly transforming the global automotive landscape, with China setting the pace in the shift toward eco-friendly transportation. Geely Holdings Group’s global communications lead, Ashley Sutcliffe, emphasized the lasting impact of EV adoption, stating, “Once drivers switch to EVs, they won’t...

Dedicated Logistics Hub Proposed in Nilai: A Game-Changer for Malaysia’s Logistics Industry The Ministry of Transport Malaysia has unveiled plans for a dedicated logistics hub in Nilai or Enstek, Negeri Sembilan, aiming to elevate the nation's logistics and supply chain infrastructure. Spearheaded by Transport Minister Anthony Loke, this initiative seeks to leverage the region's strategic location and...

Malaysia Proposes Mandatory EPF Contributions for Foreign Workers to Boost Wage Equity The Malaysian government has proposed mandatory contributions to the Employees Provident Fund (EPF) for foreign workers in an effort to address wage equity and ensure local workers are not disadvantaged. Finance Minister II, Amir Hamzah Azizan, announced this initiative at the ESG and Sustainability Conference 2024,...