News

IOI Properties Group Bhd, a renowned property developer, is embarking on an acquisition journey with plans to purchase the illustrious W Kuala Lumpur (W KL) hotel located in Jalan Ampang, Kuala Lumpur, for a total consideration of RM270 million in cash. This strategic move is set to enhance IOI Properties' diverse portfolio and strengthen its presence in the luxury hospitality sector. The proposed...

Kerjaya Prospek Group Bhd's multimillion-ringgit contract to construct a residential building for BCM Holdings Sdn Bhd, a subsidiary of EcoFirst Consolidated Bhd, has been canceled, resulting in significant implications for both parties. In a recent announcement to Bursa Malaysia, Kerjaya Prospek revealed that it had not yet initiated any work on the project. The termination of the contract has prompted...

Amidst the bustling urban landscape of Kuala Lumpur, a green oasis has emerged atop The Exchange TRX lifestyle hub and retail mall. Officially unveiled to the public on November 29th, the TRX City Park spans an impressive 10 acres (4.05 hectares), offering a serene escape from the city's hustle and bustle. This rooftop park is an integral part of The Exchange TRX mixed-development, occupying 17 acres in...

While women have made significant progress in breaking the glass ceiling, achieving pay parity with their male counterparts remains an ongoing challenge. According to the Department of Statistics Malaysia's 2021 report on Salaries and Wages, there is still an 8% variance in monthly wages earned between genders. The persistence of such inequalities not only undervalues women's contributions but also...

Significant changes to the Malaysia My Second Home (MM2H) program are set to be announced in mid-December, according to Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing. These changes are expected to include major adjustments to the MM2H threshold, making it more appealing to potential applicants. The Malaysian government is aiming to ease the stringent conditions of the MM2H program to...

Malaysian property developer Ibraco Bhd, in collaboration with China Railway Group Ltd, has successfully secured a significant construction project valued at RM568.81 million. The project involves critical infrastructure works for the Kuching Urban Transportation System (KUTS), marking a significant step in enhancing the city's transportation capabilities. The joint venture comprises Ibraco, represented...

Matrix Concepts Holdings Bhd, a prominent property developer based in Seremban, has successfully secured a financing facility worth RM512 million from AMMB Holdings Bhd (AmBank Group). The funding will play a pivotal role in facilitating the development of a prime housing project spanning 1,382.2 acres within the Malaysia Vision Valley 2.0 (MVV 2.0) located in Sendayan, Negeri Sembilan. This ambitious...

According to the Immigration Department's latest statistics recorded from January 1 to November 15, 2023, Singaporeans have topped the list of tourist arrivals to Malaysia, with 12,645,364 tourists visiting the country. This represents the highest number among the 26 million tourist arrivals during the specified period. Tourism, Arts, and Culture Minister Datuk Seri Tiong King Sing expressed hope that...

Ipsos Malaysia is advocating for a revision of the housing expense-to-income rule, which currently sets the threshold at 30%, deeming a home unaffordable if households spend more than this percentage of their income on housing. According to Ipsos Malaysia, this rule is both "outdated and arbitrary" and does not align with the needs of Malaysian households. Recent Study Reveals 23.5% as More Accurate...

In the second quarter of 2023 (Q2 2023), Malaysia has seen a 5.3% decrease in the number of unsold houses, totaling 26,286 units valued at RM18.3 billion, according to data from the National Property Information Centre (Napic). This decline reflects ongoing efforts to manage the issue of unsold properties in the country. Addressing the Unsold Houses Issue: The Malaysian government has initiated...