News

The ban on short-term rentals in Penang has had an unexpected consequence: an increase in property values and rental yields. Eastern & Oriental Bhd (E&O) has reported these positive trends, noting that their property developments in Penang were never intended to be marketed primarily as investment opportunities. According to Datuk Tee Eng Ho, the executive chairman of E&O, properties without...

Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) has initiated a tender process to appoint a consultant responsible for conducting a comprehensive study on the Penang light rail transit (LRT) project. This study is expected to provide in-depth insights and crucial details about the proposed Penang LRT project. Zairil Khir Johari, the State Infrastructure and Transport Committee chairman, shared this...

China's Zhejiang UNITY Technology Co. Ltd. has entered into a memorandum of understanding (MOU) with Malaysia's NCT Group of Companies, paving the way for the establishment of a new facility within the NCT Smart Industrial Park (NSIP) located in Sepang, Selangor. This collaboration represents a significant milestone for both parties and positions NSIP as an enticing destination for foreign investments in...

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...