News

Malaysia’s Budget 2025 Boosts Smart City Development with RM15.1 Million Allocation In a landmark move, Malaysia’s Budget 2025 has allocated RM15.1 million to the Housing and Local Government Ministry to propel the development of smart cities across the nation. Described as the largest allocation for such initiatives to date, Housing and Local Government Minister Nga Kor Ming emphasized that these...

Penang’s Mutiara Line LRT Project Expected to Begin in 2024, Confirms Transport Minister The highly anticipated Mutiara Line Light Rail Transit (LRT) project in Penang is on track to begin next year, according to Transport Minister Anthony Loke. Speaking at a press conference after the signing of a Memorandum of Agreement (MOA) between the Railway Assets Corporation and the Lembaga Perumahan Negeri...

Protasco Bhd (KL) announced a revision of its affordable housing projects in Putrajaya, initially awarded in 2022 by Perbadanan Putrajaya. In a filing with Bursa Malaysia, Protasco disclosed that its subsidiary Protasco Development Sdn Bhd has received updated letters of award replacing the previous agreements, revising the project names and slightly reducing the units. The project previously known as...

Sarawak to Begin Licensing S-MM2H Agents in 2025 with New Requirements for Applicants and Agencies Starting January 1, 2025, Sarawak will independently license its own Sarawak-Malaysia My Second Home (S-MM2H) agents, a milestone initiative announced by Datuk Seri Abdul Karim Rahman Hamzah, the state’s Minister for Tourism, Creative Industry, and Performing Arts. This decision follows the delegation of...

Transport Minister Anthony Loke Siew Fook recently announced that negotiations over the redevelopment of Kuala Lumpur Sentral, the nation’s primary transit hub, are projected to wrap up by year-end, enabling a 2025 project launch. The project developer, Malaysian Resources Corp Bhd (MRCB), is in the final stages of discussions with the public-private partnership (PPP) unit under the Prime Minister’s...

The recent Budget 2025 announcement introduced significant support for Malaysia’s aspiring homeowners. Under the RM10 billion Housing Credit Guarantee Scheme (SJKP), 20,000 first-time home buyers will receive financial assistance, particularly those who often face hurdles in securing home loans, such as gig workers and recent university graduates. Housing and Local Government Minister Nga Kor Ming...

Sarawak Tourism Board Unveils ‘Gateway to Borneo’ Campaign at World Travel Market in London The Sarawak Tourism Board (STB) has launched its ambitious ‘Gateway to Borneo’ campaign at the World Travel Market (WTM) in London, inviting international travelers to experience Sarawak’s rich culture, pristine landscapes, and sustainable tourism offerings. Running from November 5 to 7, the campaign...

Malaysian Universities Shine in QS Asia University Rankings 2024 Malaysia's higher education sector has made impressive strides in the Quacquarelli-Symonds (QS) World University Rankings: Asia (QS-AUR) 2024, with Universiti Malaya (UM) leading as the nation’s top-ranked university. Out of the 40 Malaysian institutions featured, UM secures a place in the top 20, holding the 12th position this year,...

In Malaysia’s largest-ever budget allocation of RM421 billion, Budget 2025 has primarily favored the education and healthcare sectors, with comparatively fewer incentives directed toward the property sector. According to Henry Butcher Malaysia, the allocation offers key benefits for first-time home buyers and the B40 income group but leaves the M40 relatively underserved. While developers' pre-budget...

Bank Negara Malaysia Holds Overnight Policy Rate at 3% Amid Positive Economic Prospects Bank Negara Malaysia (BNM) announced today that it will maintain the overnight policy rate (OPR) at 3%, a decision aimed at sustaining economic momentum while balancing inflationary pressures. This rate aligns with the central bank’s current evaluation of economic growth and inflation outlook. “At the current OPR...