News

In a significant development for Penang International Airport's expansion project, the Penang government has successfully addressed the relocation concerns of over 50 Malaysia Airports Holdings Bhd (MAHB) employees. The affected staff, who resided in quarters within the expansion project's vicinity, have been offered affordable housing solutions in Teluk Kumbar, as announced by Chief Minister Chow Kon...

In a refreshing change of pace, commercial real estate investment in the Asia Pacific region witnessed a 3% year-on-year growth in the fourth quarter of 2023, reaching a total of US$31.6 billion (RM151.1 billion). This growth, as reported by JLL, marks the end of a persistent downtrend that spanned seven consecutive quarters, shedding a ray of optimism on the region's investment landscape. The year 2023...

During the Creative Kuala Lumpur (KL) Grants Programme and Urban Challenge Award Ceremony on Monday, February 19, at Gamuda Mall Bukit Bintang, Think City's managing director Hamdan Abdul Majeed highlighted the urgent need for Malaysian cities to offer authentic, local experiences beyond the conventional shopping malls and tourist attractions. Emphasizing Malaysia's rich cultural potential, Hamdan proposed...

AEON Co (M) Bhd is set to embark on a new chapter in its storied legacy of retail excellence with the appointment of Naoya Okada as its Managing Director, effective March 1, 2024. Okada, who previously served as the Deputy Managing Director and Chief Operating Officer since 2022, steps into the role succeeding Keiji Ono, who will transition back to AEON Japan for a new assignment. Under Okada’s...

Kuala Lumpur Kepong Bhd (KLK), a leading name in Malaysia’s agribusiness and manufacturing sectors, is setting the stage for its future with a strategic update to its executive leadership team. The company has announced the redesignation of Tan Sri Lee Oi Hian from Chief Executive Officer to Executive Chairman, following the esteemed retirement of Tun Raja Muhammad Alias Raja Muhammad Ali. This move...

The Ministry of Tourism, Arts and Culture (Motac) is gearing up to present a detailed policy paper to the Cabinet, outlining the full guidelines for the revamped Malaysia My Second Home (MM2H) applications, announced Home Minister Datuk Seri Saifuddin Nasution Ismail during a recent press conference. This move comes as part of the government's efforts to refine and rejuvenate the program, aiming to attract...

Knight Frank Malaysia projects a promising year ahead for the leasing activity of prime logistics warehouses, particularly in the Klang Valley, Johor Bahru, and Penang. According to Allan Sim, Executive Director of Land and Industrial Solutions at Knight Frank Malaysia, the sector is set to experience rental growth in 2024, attributed to the tight availability of grade A warehouses coupled with strong...

IPC Shopping Centre, a premier shopping destination located in Mutiara Damansara, Petaling Jaya, Selangor, is set to broaden its retail and culinary horizons with the introduction of MR DIY Plus as its new anchor tenant and a host of new food and beverage (F&B) offerings. This development, announced by Ikano Corp Sdn Bhd, marks a significant step towards enriching the consumer experience and catering...

Understanding the nuances of rental income tax is crucial for landlords to ensure compliance and avoid penalties. Here's a simplified guide to navigate the complexities of non-business income taxation in Malaysia. What is Rental Income Tax? Rental income tax applies to profits earned from renting out residential, commercial properties, machinery, and ships. It is governed by Section 4(d) of the Income...

In a progressive move towards sustainable development, Syarikat Perumahan Negara Bhd (SPNB), Malaysia's leading affordable housing developer, is evaluating a proposal to incorporate solar panels into its residential units. This initiative reflects the government's broader agenda to foster green technology and sustainable energy solutions within the country's housing sector. Potential for Green Energy in...