Dec
28
In The News

Week 1 - 2025


TAIWAN'S LINCO TECHNOLOGY ACQUIRES SENAI AIRPORT CITY LAND

The Edge & The Star, 02/01/2025

Senai Airport City Sdn Bhd and Lincotec Technology (Malaysia) Sdn Bhd, a wholly-owned subsidiary of Taiwan’s Linco Technology Co Ltd, have entered into a sale and purchase agreement for Lincotec to acquire 4.02 hectares (9.93 acres) of industrial land. The industrial park is a key hub for industries involved in high-tech manufacturing, research and development, and technological innovation. Senai Airport City Sdn Bhd is a member of MMC Group, the master developer of a 1,100-ha (2,718 acre) integrated industrial development known as Senai Airport City in Iskandar Malaysia, Johor.

 


 

GAMUDA BUYS LAND FROM MUI PROPERTIES-CHIN TECK JV FOR RM424 MILLION CASH, FOR DATA CENTRE PROJECT

The Edge, 30/12/2024

Gamuda Bhd (Gamuda) is acquiring 389.7 acres of land in the Springhill Industrial Park, Port Dickson for RM424.4 million, cash, from a joint venture (JV) between MUI Properties Bhd and Chin Teck Plantations Bhd. Gamuda intends to use the land to develop cloud or data centre infrastructure. Gamuda’s indirect subsidiary, Gamuda DC Infrastructure Sdn Bhd, has signed a sale and purchase agreement with West Synergy Sdn Bhd for the deal. West Synergy is 60%-owned by MUI Properties’ wholly-owned Peristal Enterprise Sdn Bhd and 40%-owned by Chin Teck’s Double Alliance Sdn Bhd. MUI Properties is 72.26%-controlled by Malayan United Industries Bhd. The land is valued at RM25 per square foot based on the purchase price.

 


 

APEX EQUITY BUYS OFFICE BUILDING IN BANGSAR SOUTH FOR RM50 MILLION FOR RELOCATION

The Edge, 30/12/2024

Apex Equity Holdings Bhd which is involved in stockbroking, property development and money lending services is buying a boutique office building in Bangsar South, Kuala Lumpur for RM50 million. Apex wholly owned unit Apex Development Sdn Bhd has entered into a sale and purchase agreement with Noah Foundation for the acquisition of the building, measuring approximately 54,876 sq. ft., for RM911.15 per sq. ft. The building, which is currently vacant, will serve as the office for Apex Group and its subsidiaries and any remaining unoccupied floors will be made available for lease. Apex’s current place of business in Mutiara Damansara, is occupied under a lease agreement that will expire in the 2Q26.

 


 

SUNWAY REIT COMPLETES KLUANG MALL ACQUISITION

The Edge, 02/01/2025 & The Sun, 03/01/2025

Sunway Real Estate Investment Trust has completed the acquisition of Kluang Mall in Johor for RM158 million. Kluang Mall is expected to provide an estimated initial net property income yield of 7%. The mall, now rebranded as Sunway Kluang Mall, is nearly fully occupied with over 130 tenants and anchored by Pacific Hypermarket & Department Store. The acquisition expanded Sunway REIT’s property portfolio to 28 assets, worth RM10.3 billion. The trust now has 13 retail properties, six hotels, five office buildings, an education asset, and three industrial sites. The deal was announced in August 2024.

 


 

PETERLABS ACQUIRES LAND IN NEGERI SEMBILAN FOR RM7.4 MILLION

The Star, 02/01/2025

Peterlabs Holdings Bhd is acquiring 2.7 acres of land in Seremban, Negeri Sembilan from N9 Matrix Development Sdn Bhd for RM7.4 million. The acquisition represents a good opportunity to invest and own the property for the long term benefit and interest of the group. Peterlabs had entered into a research agreement (RA) with XMU Jiageng Education Development Sdn Bhd to profile the chemical constituents of naturally derived premixes and to characterise the antioxidant and antimicrobial profiles of naturally derived premixes in vitro.

 


 

PROPOSED SOUTHERN GATEWAY ECONOMIC CORRIDOR TO COORDINATE HIGH-IMPACT PROJECTS

The Edge, 31/12/2024

The Melaka State Government had, in 2024, proposed for a “Southern Gateway Economic Corridor” which involves Melaka, Negeri Sembilan and Johor.  The Southern Gateway Economic Corridor will be the best medium to coordinate g high-impact development projects that can generate sustainable economic growth. The corridor would involve development in the border areas involving Melaka, Johor and Negeri Sembilan. The priority projects within the corridor include the construction of the West Coast Highway, Kuala Lumpur-Singapore High Speed Rail and the Southern Padi Bowl. This is in addition to the development of economic zones such as the Maharani Gateway, Straits Melaka Waterfront Economic Zone and Smart Artificial Intelligence (AI) Container Port in Port Dickson, Negeri Sembilan. The creation of the Southern Gateway Economic Corridor is expected to complete infrastructure development and boost the state economy through various sectors including industry, agriculture and tourism for the three states.

 


 

PENANG’S APPROVED INVESTMENTS TOTALLED RM22.6 BILLION AS OF 3Q24

The Edge, 31/12/2024

Penang has attracted an impressive investment inflow in the industrial sector, with approved investments up to 3Q24 hitting RM22.6 billion. The manufacturing sector contributed RM12.1 billion while the services sector accounted for RM10.4 billion. These figures reflect investor confidence in its potential with 364 projects recorded by the Malaysian Investment Development Authority and an estimated 14,042 new job opportunities created specifically for the people of the state. Penang has recorded an overall achievement level of 73% under Penang2030 Vision which is aimed at creating a “Family-focused Green and Smart State that Inspires the Nation”, with 359 projects successfully completed, nine in progress and five pending. The state government has planned and implemented various initiatives for infrastructure and public transport optimisation, particularly the Mutiara Line Light Rail Transit (LRT) project which is currently at the negotiation stage. The land for the LRT depot on Silicon Island is expected to be ready and handed over to the project’s developer and asset owner Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) by the end of 2025. The Penang International Airport (PIA) expansion project announced by the federal government, which Malaysia Airports Holdings Bhd (MAHB) kick-started in mid-2024, is a strategic step to turn PIA into an airport with the highest connectivity and flight volume in the country, if not Asia. The rise in tourist arrivals to Penang is also driven by the growth in the number of direct flights from various locations globally, especially with the launch of new routes to Shenzhen, China, and a direct flight from Penang to Chennai, India.

 


 

LOONG AIR LAUNCHES DIRECT FLIGHT FROM XI’AN TO PENANG

The Edge, 30/12/2024

Loong Air has launched a new direct flight connecting Xi'an, China to Penang at the Penang International Airport. The new Xi’an-Penang route was the result of strong collaboration between the Tourism, Arts and Culture Ministry and the Transport Ministry (MOT). The visa-free policy, which has extended by the Federal Government until December 2026, together with the growing connectivity between Malaysia and China are expected to further boost tourist arrivals and enhance cultural exchange between Malaysia and China. Loong Air's new Xi’an-Penang route will feature the Airbus A320, with flights scheduled twice a week, on Mondaysand Fridays with a capacity of 168 passengers.

 


 

ICONIC PENANG OPENS ICONIC MARJORIE HOTEL IN PENANG

NST, 29/12/2024

Iconic Penang Sdn Bhd has unveiled the five-star 298 rooms Iconic Marjorie Hotel. It is a Tribute Portfolio Hotel in Bayan Lepas under the Marriott International brand. The hotel is also the first in Penang to achieve the prestigious Gold standard in the Green Building Index (GBI) rating system. The hotel is located adjacent to Iconic Regency, a 42-storey residential towers offering 268-unit freehold serviced residence developed by the group. Both buildings are strategically located in Sungai Nibong, part of the Bayan Lepas industrial zone known as the 'Silicon Valley of the East'.