MRCB Secures RM6.25 Billion Ipoh Sentral Project: A Game-Changer for Transit-Oriented Development in Perak
Malaysian Resources Corp Bhd (MRCB) has officially firmed up its role as the master developer of Ipoh Sentral, a RM6.25 billion transit-oriented development (TOD) project in the heart of Perak’s capital city.
Through an agreement with Ipoh Sentral Sdn Bhd (ISSB)—a 50:50 joint venture between Railway Assets Corporation and Silver Smart Sdn Bhd (owned by Perak State Secretary Inc)—MRCB will lead the transformation of the site into a modern, integrated transportation and urban hub.
This move mirrors MRCB’s successful role in developing KL Sentral, and signals its ambition to replicate TOD success stories outside Greater Kuala Lumpur.
Key Project Highlights
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Project Name: Ipoh Sentral
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Gross Development Value (GDV): RM6.25 billion
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Developer: MRCB (via an unincorporated JV with ISSB)
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Land consideration: RM348 million (minimum RM198 million guaranteed)
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Funding: Internal reserves and bank borrowings
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Development Scope: TOD with transportation hub, commercial, residential, and lifestyle components
“This collaboration allows us to bring our TOD expertise to Ipoh and improve connectivity and quality of life for the Perak community,” MRCB said in its statement.
Why Ipoh Sentral Matters: A New Urban Nucleus for Perak
Ipoh Sentral is poised to redefine urban development in Perak, offering seamless integration between various transportation modes, residential zones, commercial centres, and public amenities.
Like KL Sentral, Ipoh Sentral will likely include:
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Intermodal transport terminals (KTMB, buses, ride-hailing, future intercity links)
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High-density residential towers (targeting commuters and long-stay visitors)
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Retail, F&B, and hospitality components
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Transit-adjacent public spaces and green corridors
Strategic Importance:
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Enhances intra- and inter-state connectivity, positioning Ipoh as a secondary urban hub
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Supports commuter migration from Klang Valley, particularly post-pandemic lifestyle shifts
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Anchors long-term population and employment growth in northern Peninsular Malaysia
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Offers new property investment potential in a region historically viewed as a heritage town
Impact on Property Investors and Urban Planners
MRCB’s TOD blueprint often incorporates live-work-play infrastructure, aligning with Malaysia’s National Transport Policy and ESG urban renewal goals. Ipoh Sentral could trigger:
✅ Capital appreciation in surrounding areas (e.g., Ipoh Garden, Station 18, and Greentown)
✅ New demand for TOD-linked residential products (e.g., SOHO units, serviced apartments)
✅ Increased rental demand from professionals, healthcare workers, and logistics staff
✅ Mixed-use opportunities for retailers, education providers, and hospitality operators
Comparison: KL Sentral vs. Ipoh Sentral
| Feature | KL Sentral | Ipoh Sentral |
|---|---|---|
| GDV | RM10+ billion (phased) | RM6.25 billion |
| Developer | MRCB | MRCB |
| Location | Kuala Lumpur | Ipoh, Perak |
| Rail Connectivity | KTM, MRT, LRT, ERL | KTM, Intercity, potential RTS links |
| Completion Approach | Phased, public-private partnership | Similar phased approach |
Funding and Institutional Confidence
MRCB’s backing by major institutional shareholders reinforces long-term confidence in the project:
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Employees Provident Fund (EPF) – 36.21%
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Gapurna Sdn Bhd (Tan Sri Mohamad Salim Fateh Din) – 15.48%
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Lembaga Tabung Haji – 5.35%
Such stakeholder alignment ensures that Ipoh Sentral is positioned for financial sustainability and public-private synergy.
Final Thoughts: Ipoh’s Next Leap Forward
Ipoh Sentral is not just a transit terminal—it is a catalyst for regional transformation. With MRCB at the helm, the project promises to reshape how Malaysians connect, live, and invest in secondary cities.
As Malaysia decentralizes economic growth beyond the Klang Valley, developments like Ipoh Sentral will be central to new investment corridors and real estate revaluation in northern states.
