News

Penang Chief Minister Chow Kon Yeow expressed optimism that construction on the island’s Light Rail Transit (LRT) line could start by the end of 2024. This comes as final negotiations between MRT Corp and SRS Consortium Sdn Bhd are nearing completion. Chow noted that both parties are in the final stages of discussing technical details and contract values. Once these issues are resolved, the agreement...

Malaysia's Budget 2025 has sparked discussions about its long-term impacts on foreign investment, economic growth, and the equity market. While immediate effects on equities appear muted, analysts remain optimistic about the government’s fiscal reforms and broader economic policies. The budget aims to rebuild fiscal health and position Malaysia as an attractive hub for foreign direct investment (FDI),...

Nestled in the serene embrace of the Genting Highlands, Rimbawan by LBS Bina Group stands as a shining example of eco-conscious development. Spanning 315 acres, this township aims to seamlessly integrate modern living with nature, setting new standards for sustainability and community living in Malaysia. As part of LBS Bina's forward-thinking strategy, Rimbawan is a testament to the group’s commitment to...

Property developer LBS Bina Group Bhd (KL) has partnered with Solarvest Holdings Bhd (KL) to build a 43-megawatt peak (MWp) solar farm in Senawang, Negeri Sembilan, under a RM104 million contract. This collaboration is part of LBS Bina’s initiative to incorporate renewable energy into its business strategy. The solar farm will be developed by Suria Hijauan Sdn Bhd, a consortium comprising Setara Armada...

IKEA Malaysia, owned by Ikano Retail, recorded a turnover of RM1.46 billion for its financial year ended August 2024 (FY2024), marking a 4.2% decline year-on-year (YoY). This drop highlights the broader challenges facing the retail sector globally, with rising living costs and inflation impacting consumer spending. Ikano Retail’s Performance Across Key Markets Despite the drop in IKEA Malaysia’s...

The Malaysian Cabinet has officially approved the Data Centre Planning Guidelines (GPP), developed by the Ministry of Housing and Local Government through PLANMalaysia. These guidelines aim to standardise the application and approval process for data centre development, enhancing Malaysia's role as a digital infrastructure hub. Minister Nga Kor Ming announced the new guidelines at a press conference on...

Sabah Pan Borneo Highway Phase 1A Delayed Due to Land Acquisition and Utility Relocation Issues The construction of Phase 1A of the Sabah Pan Borneo Highway (LPB) has hit delays due to land acquisition disputes and the extensive time required for utility relocation, according to Deputy Works Minister Datuk Seri Ahmad Maslan. Some landowners have refused to cooperate, taking the matter to court, which has...

The Selangor state government is set to exempt property developers from development charges for affordable housing projects, effective January 2024, announced Datuk Borhan Aman Shah, the Selangor state housing and culture exco, at the Rehda Selangor Housing Convention 2024. This exemption applies to key affordable housing schemes like Rumah Idaman and Rumah Selangorku Harapan, aiming to accelerate the...

Budget 2025 Offers Tax Relief for First-Time Homebuyers While Budget 2025 may not be seen as a property-focused budget, property experts have praised the introduction of tax relief for housing loan interest payments, a move expected to incentivize first-time homeownership. Key Housing Tax Relief Measures: RM7,000 tax relief for housing loan interest payments on homes priced up to RM500,000....

Singapore Ranks Fourth Globally for Net Financial Assets Per Capita in 2024 Singapore continues to solidify its position as one of the world’s wealthiest nations, ranking fourth globally in terms of net financial assets per capita, according to the Allianz Global Wealth Report 2024. The report revealed that Singapore residents held an average of €171,930 (S$246,000 or RM800,000) in net financial...