Week 18 - 2026
INFLATION EASES IN 2025
The Star, NST, & The Sun, 30/04/2026
Malaysia’s inflation moderated to 1.4% in 2025 as compared to 1.8% in 2024, supported by the firmer ringgit, sustained household spending and initiatives by the government. Government initiatives to distribute RON95 petrol subsidies to Malaysians, to a certain extent, helped to curb further increases in Malaysia’s inflation. The country’s inflation in 2025 was contributed by the inflation of housing, water, electricity, gas and other fuels (1.6%); health (1.2%); recreation, sports and culture (1.1%); transport (0.4%) and furnishings, household equipment and routine household maintenance (0.2%). He said personal care, social protection and miscellaneous goods and services recorded a higher increase at 4.4% compared to 2024’s 3%, followed by insurance and financial services (3.4%), restaurants and accommodation services (3.2%), education (2.3%), and food and beverages (2.1%). In contrast, information and communication and clothing and footwear recorded declines of negative 4.3% and negative 0.2% in 2025, respectively.
KLIA'S PASSENGER MOVEMENTS GROW 14.4% TO 16.9 MILLION IN 1Q26
NST, The Star & The Edge, 28/04/2026
Malaysia Airports Holdings Bhd (MAHB) recorded strong growth across its local network in 1Q26, with Kuala Lumpur International Airport (KLIA) registering 16.9 million passenger movements, a 14.4% increase compared with 1Q25. MAHB said that in March 2026 alone, local airports handled 9.1 million passenger movements, of which 5.6 million travelled through KLIA, while the Hari Raya Aidilfitri period from March 14 to 29 saw more than 3.1 million passengers passing through the airport. During March 2026, Penang International Airport (PEN) saw an 11% rise in international passenger numbers, moving from 371,601 in February 2026 to 412,958. Meanwhile, Kota Kinabalu International Airport (BKI) recorded a 2% increase in domestic passenger numbers, rising from 541,248 in February 2026 to 551,049. This contributed to a total of 27.4 million passenger movements across the local network in 1Q26.
LRT3 MAIN CONTRACTOR FACES OVER RM800 MILLION IN DELAY COSTS
NST, 28/04/2026
The main contractor the Light Rail Transit Line 3 (LRT3) could face over RM800 million fine as delays in the final stages of completion continue to accumulate. The final enforceable penalty, or liquidated and ascertained damage (LAD), amount against Setia Utama LRT 3 Sdn Bhd will only be determined upon project completion, after which the standard dispute resolution process will apply. The LAD had reached RM474.8 million as at December 31, 2025, following delays beyond the extension of time deadline of July 10, 2025. The penalty is imposed at RM2.73 million per day, or 0.024% of the contract value, with an initial delay of 174 days recorded up to end-2025. As at April 27 this year, an additional 117 days of delay has been recorded, bringing total delays to 291 days. This implies a further RM315.9 million in LAD for 2026, lifting total accrued penalties to about RM790.7 million. Originally targeted to begin operations on September 30, 2025, after reaching 98.63% completion, the project has since faced further slippages due to challenges in final-stage system integration and commissioning.
The LRT3 project, Malaysia's largest light rail development to date, spans 37.8km from Bandar Utama to Johan Setia, with key interchanges at Bandar Utama (MRT Kajang Line) and Glenmarie (LRT Kelana Jaya Line). Setia Utama could not be reached for comment at the time of publication. Setia Utama was awarded a RM2.47 billion contract by Prasarana in March 2025 for reinstatement works on the LRT3 line from Bandar Utama to Johan Setia. The scope includes five stations, two electric bus depots and rolling stock supply, making it a key package in the overall system delivery. However, attention has increasingly turned to delay-related costs.
TROPICANA TO ACQUIRE 15 LAND PARCELS IN LANGKAWI FOR RM195.9 MILLION
The Edge & The Star, 29/04/2026
Tropicana Corp Bhd is acquiring a total of 15 parcels of land measuring about 24.15 acres in Langkawi, Kedah for a total of RM195.88 million. The group wholly owned subsidiary Tropicana Scenic Development Sdn Bhd (TSDSB) has entered into two separate sale and purchase agreements for the land acquisitions. Under the first agreement, TSDSB is acquiring 14 parcels of land in Bandar Padang Lalang, Langkawi, from Maya Elemen Sdn Bhd for RM151.1 million. TSDSB is also acquiring a leasehold parcel in Padang Matsirat from Tanjung Mali Resort Development Sdn Bhd for RM44.8 million. The land, located near Langkawi International Airport, is in line with the group’s strategy to expand its landbank in growth areas with strong development potential.
MALTON LAUNCHES RM400 MILLION MUTIARA LAKE PUCHONG
The Edge, 28/04/2026
Malton Bhd has officially launched Mutiara Lake Puchong, a lakeside high-rise development in Puchong, Selangor. The project has a gross development value of RM400 million. The 5.3-acre development comprises a 34-storey residential tower featuring 526 condominium units sized from 1,022 to 1,345 sq. ft., with prices starting from RM591,000. The project is approximately 1km from the Pusat Bandar Puchong LRT station The development is scheduled for completion in 2029.
AVALAND BUYS TAMAN U-THANT LAND FOR RM86 MILLION FOR LUXURY RESIDENTIAL PROJECT
The Edge & The Star, 29/04/2026
Avaland Bhd is acquiring 1.9 acres of freehold land in Taman U-Thant, Kuala Lumpur for RM86.04 million to expand its presence in the high-end residential segment within the Klang Valley. The group wholly owned unit, Nexus Advertising Sdn Bhd, is buying the land from Tong Ah Company Sdn Bhd. The land, which is currently zoned for residential use, is earmarked for a proposed high-rise residential development with a preliminary gross development value of about RM700 million.
METRONIC GLOBAL BUYS FREEHOLD SERVICED APARTMENTS IN MELAKA
The Edge & The Star, 30/04/2026
Metronic Global Bhd’s wholly owned unit MGL Development Sdn Bhd has proposed to acquire 81 units of freehold serviced apartments in Melaka for RM33.24 million, saying the purchase will contribute positively towards future earnings. The group has entered a deal to buy the apartments, located at Marina Point, Klebang, from the developer and registered owner, Sanichi Precision Mould Sdn Bhd, a wholly owned subsidiary of Sanichi Technology Bhd. The acquisition is expected to be completed by 1Q27.
KIP REIT PROPOSES RM435 MILLION SETAPAK CENTRAL MALL ACQUISITION
The Edge, 29/04/2026
KIP Real Estate Investment Trust announced plans to buy Setapak Central Mall, Kuala Lumpur from Festiva Mall Sdn Bhd, which is indirectly owned by Singapore-listed Frasers Property Ltd for RM435 million to expand its retail portfolio. The three-storey Setapak Central Mall has a net lettable area of 514,777 sq. ft. and an occupancy rate of 99.89% as at February 2026.
AEON EXPANDS URBAN PRESENCE WITH AEON MALL KL MIDTOWN AT KL METROPOLIS
The Edge, 28/04/2026
AEON CO. (M) BHD. or AEON is set to introduce AEON Mall KL Midtown, further strengthening its presence in Malaysia’s retail landscape. The mall, scheduled to open in 4Q26, will form part of KL Metropolis, a 75-acre mixed-use development in Kuala Lumpur city centre. Offering approximately 367,000 sq. ft. of Net Lettable Area (NLA), AEON Mall KL Midtown sits alongside office towers, residential and the Hyatt Regency Kuala Lumpur within the KL Midtown development. The mall is planned with a balanced mix of retail, dining and lifestyle offerings designed to meet everyday needs while incorporating experiential elements that contribute to a more engaging setting. Complementing the overall concept is a 1.5-acre rooftop linear park, introducing open green space that enhances the appeal of the destination. The key anchor tenant will be the AEON supermarket, while other major tenants will be announced in the coming months as leasing progress continues to advance positively.
VILLAGE GROCER ANCHORS KL MET GALLERIA WITH NEW PREMIUM STORE
BERNAMA, 01/05/2026
Village Grocer, Malaysia’s leading premium supermarket chain, officially launched its latest outlet at KL Met Galleria on April 30, 2026. Positioned as a cornerstone of the mall's retail experience, the new store offers a curated selection of fresh local produce alongside premium international imports. The outlet is located at Lower Ground 1 (TheMarketplace).
CHIN HIN PROPERTY SCRAPS RM1.15 BILLION GDV TAMAN CONNAUGHT PROJECT AFTER APPROVAL SETBACK
The Edge, 01/05/2026
Chin Hin Group Property Bhd stated that its agreement to develop a residential project in Taman Connaught, Cheras, has been revoked as it was unable to obtain the relevant development approval for the land. The group’s wholly owned unit Avion Connaught Sdn Bhd has signed a deed of revocation with landowner Grand Uptown Sdn Bhd to formally terminate the development agreement dated October 16, 2025. The proposed project, with an estimated gross development value of RM1.15 billion, comprised a high-rise residential development with retail and parking components on a five-acre leasehold parcel in Taman Connaught.
GD HOLDINGS REVIVES ABANDONED M101 SKYWHEEL PROJECT WITH RM1.37 BILLION KL360 MIXED-USE DEVELOPMENT
NST & The Edge, 01/05/2026
Negeri Sembilan-based property developer GD Properties has officially launched KL360, a mixed-use development with a gross development value (GDV) of RM1.37 billion. The project was previously an abandoned development called M101 Skywheel. Located at Jalan Tun Razak here, M101 Skywheel was supposed to be a 78-storey twin-tower project featuring a ferris wheel on the 52nd floor. The project, which was launched in 2017 by M101 Holdings Sdn Bhd, stopped work in 2022/2023. It had a GDV of RM1.5 billion. Renamed as KL360, the 61-storey project will comprise 785 serviced apartments with 25 layout designs with built-up sizes ranging from 450 to 920 sq. ft. The selling price starts from RM884,400. Apart from the residential units, there will also be 221 office suites and 20 retail units. The construction work, which will be undertaken by main contractor China State Construction Engineering (M) Sdn Bhd, is expected to start in 2H26 and be completed by 2030. The site is adjacent to the Raja Uda MRT station, giving accessibility to key areas such as TRX, KLCC and Bukit Bintang.
MITRALAND LAUNCHES RM728 MILLION ELEV8 INDUSTRIAL PROJECT, WITH FIRST PHASE 80% SOLD
The Edge, 29/04/2026
Mitraland Group has officially launched ELEV8 Entrepreneurs’ Park, a 95.6-acre guarded industrial development with a gross development value of RM728 million in Bandar Baru Salak Tinggi, Selangor. The project represents a joint venture with Wawasan Group and marks Mitraland’s third industrial development, following Lake 6 Entrepreneurs’ Park (Series I) in Puchong and Air Hitam Entrepreneurs’ Park (Series II) in Klang. ELEV8 will be developed in three phases and is targeted for completion by 4Q28. The first phase comprises 64 units of semi-detached and cluster factories, with built-ups ranging from 6,086 to 9,091 sq. ft. With a selling price from RM3.9 million for cluster units and RM4.46 million for semi-detached units, the phase is currently 80% sold. Beyond its industrial component, ELEV8 includes a lifestyle hub with F&B outlets and business support facilities, including sports amenities, a surau and a multi-purpose event and conference hall.
SD GUTHRIE, MBI TO JOINTLY DEVELOP 2,500 ACRES INDUSTRIAL PROJECT IN SEPANG
The Edge, NST & The Star, 29/04/2026.
SD Guthrie Bhd and Menteri Besar Selangor Inc have formed a strategic partnership for a large-scale mixed-use development in Sepang Estate, Selangor, adjacent to the KLIA Aeropolis. The parties signed a memorandum of understanding (MOU) that marked their second collaboration on the heels of an integrated development project in Carey Island, Selangor. The proposed 2,500-acre development is envisioned as an integrated industrial park supported by commercial and complementary residential components. The project is located within the Integrated Development Region in South Selangor (IDRISS), part of the Sepang Infinity Corridor Hub under the Sepang Local Plan 2035. It is expected to drive long-term economic growth and emerge as a key investment destination, in line with the objectives of Rancangan Selangor Pertama (RS-1). The project is designed to support high‑value industries, including aerospace and logistics, as part of a broader and diversified economic ecosystem. It will also complement Kuala Lumpur International Airport’s next phase of growth, strengthen Selangor’s attractiveness to global investors, and is projected to create more than 32,000 job opportunities by 2030.
KHPT HOLDINGS TO LEASE PUCHONG FACTORY FOR RM14.6 MILLION DEAL
The Edge, 30/04/2026
KHPT Holdings Bhd's soon to be acquired subsidiary, Ngai Cheong Metal Industries Sdn Bhd (NCMI), has entered into a 10-year lease for a factory complex in Puchong, Selangor, at an initial annual rental of RM1.3 million part of a broader RM19.5 million acquisition and diversification exercise announced on Monday (April 27). The factory, located at PT 57121, Jalan Meranti Perdana 2, Taman Perindustrian Meranti Perdana, Puchong, sits on a freehold land area of approximately 193,547 sq. ft. and has a lettable area of approximately 118,506 sq. ft. The complex comprises a single-storey detached factory with annexed warehouse and two-storey office, a second single-storey detached factory with mezzanine and warehouse, a three-storey assembly building and cafeteria, and ancillary structures. Rental will step up by approximately 10% every three years, rising to RM1.43 million (years four to six), RM1.57 million (years seven to nine), and RM1.73 million in the final year, bringing total lease payments over the 10-year tenure to approximately RM14.6 million.
KPS CONSORTIUM BUYS FREEHOLD PROPERTIES FOR RM45.4 MILLION IN RAWANG FOR INVESTMENT
The Edge, 01/05/2026
KPS Consortium Bhd has proposed to acquire three freehold properties in Rawang for RM45.4 million, for investment purposes. The group’s wholly owned subsidiary, KPS Plywood Sdn Bhd, has entered into deals to buy 16 units of four-storey semi-detached factories for RM38.32 million, 13 units of single-storey low-cost factories for RM3.05 million, and an individual title lot with a four-storey detached factory for RM4.13 million, all located in Taman Industri Nautical, Rawang.
IOI PROPERTIES OPENS FIRST PHASE OF CENTRAL PARK @ SENNA PUTERI IN BANDAR BARU SALAK TINGGI
The Edge, 28/04/2026
IOI Properties Group Bhd officially opened the first phase of its 2.75-acre Central Park @ Senna Puteri in Bandar Baru Salak Tinggi, Selangor on 25th April 2026. The Central Park includes lifestyle amenities such as multipurpose courts, outdoor gyms, an amphitheatre, and solar-powered lights for walkways.
HOSPITAL EXPANDS FACILITIES WITH NEW WING IN CHERAS
The Star, 28/04/2026
Columbia Asia Hospital Cheras has unveiled its new wing with expanded facilities, marking an important milestone in its efforts to meet growing healthcare needs in Cheras and surrounding communities through greater capacity, enhanced facilities and broader specialist care. The hospital has introduced a four-storey block with three additional basement levels, designed to complement its existing facilities and improve patient access and flow. With this expansion, the hospital’s capacity has increased from 78 to 180 beds, including three additional isolation beds, 56 additional single rooms and eight beds in the Ambulatory Surgical Care Unit. Specialist clinics have expanded, alongside a dedicated health screening centre to support preventive health and early detection, significantly enhancing its ability to serve communities across Cheras Selatan, Balakong, Sungai Long, Kajang, Seri Kembangan, Serdang, Putrajaya, and Cyberjaya. A dialysis centre is also in development and is expected to commence operations by year-end.
DPS RESOURCES EXPLORES TIE-UP WITH ALIBABA GROUP-LINKED FIRM FOR US$1.1 BILLION AI DATA CENTRE IN MELAKA
The Edge, The Sun & The Star, 30/04/2026
DPS Resources Bhd is exploring a partnership with an affiliate of Alibaba Group Holding Limited to develop artificial general intelligence (AGI) data centre infrastructure in Melaka. The project remains at a preliminary stage, with definitive agreements yet to be finalised. The first phase is expected to have a capacity of 150MW to 180MW, with an estimated development cost of US$7.5 million (RM29.7 million) per megawatt. Its wholly owned unit DPS Energy Sdn Bhd (DPSE) has signed a memorandum of understanding with Hangzhou Xinfengwei Network Technology Co Ltd, an associate of Dingding (China) Information Technology Co Ltd. Under the agreement, DPSE will provide land, power supply and supporting infrastructure, while overseeing regulatory approvals, government liaison and overall project management. It will retain ownership of the land and infrastructure assets. Xinfengwei will bring in global computing demand and potential customers and handle market development, technical operations and day-to-day management.
HEXTAR CAPITAL SECURES RM155 MILLION MELAKA HOSPITAL SUBCONTRACT
The Edge, NST & The Star, 28/04/2026
Hextar Capital Bhd has secured a RM155.3 million construction subcontract for a military hospital project in Melaka. The subcontract for the Hospital Angkatan Tentera Kem Terendak project was awarded by FNA Builders & Services Sdn Bhd to its subsidiary, Legacy Core Sdn Bhd. The job, which includes piling, foundation, demolition, building works and infrastructure work, is slated for completion by August 2028.
GOLD LI EYES FIRST HIGH-RISE DEVELOPMENT IN OVERLOOKED MUAR MARKET
The Edge, The Star & NST, 28/04/2026
Gold Li Holdings Bhd, which mainly develops landed homes, is venturing into high-rise development in Muar. The city, which is located about a two-hour drive from Johor Bahru, has few new apartment developments, making it an “underserved” market segment. Gold Li is set to launch the 500-unit project with a gross development value of RM400 million in 2027. The changes in lifestyle preferences, particularly among younger buyers, are also driving interest in high-rise living even in secondary towns.
AIRTRUNK TO INVEST RM12 BILLION IN TWO NEW JOHOR HYPERSCALE DATA CENTRES
NST, 01/05/2026
AirTrunk, Asia-Pacific's and the Middle East's leading hyperscale data centre platform, will invest RM12 billion to develop two new data centres in Iskandar Puteri in Johor, to be called JHB3 and JHB4. JHB3 and JHB4 will have a combined capacity of more than 280 megawatts (MW) of IT load and will be located in close proximity to its existing JHB1 and JHB2 campuses. The JHB1 and JHB2 campuses (totalling more than 420 MW of IT load) are almost 100% contracted and tracking well ahead of investment plans. The development of JHB3 and JHB4 is expected to generate significant economic benefits for Johor and Malaysia, including creating over 3,000 jobs during construction, providing ongoing employment to local talent once operational, and forming partnerships with local suppliers and contractors to support regional industry.
APPROVAL SECURED FOR NEW LOGISTICS AEROPARK NEAR PENANG AIRPORT
The Star, 27/04/2026
Penang has secured planning approval for a logistics aeropark in Batu Maung, on the island, adjacent to Penang International Airport (PIA). The 104 acres Penang International Logistics Aeropark (PILA) would strengthen the state’s logistics ecosystem and support industrial growth in the northern region. A strategic joint venture between Penang Development Corporation (PDC) and Malaysia Airports Holdings Bhd (MAHB), currently PDC undertaking earthworks and soil treatment. The new air cargo warehouse, designated as a Free Commercial Zone facility, expected to be completed and operational by 2029. PILA was projected to handle cargo capacity of up to 500,000 tonnes annually by 2050, with warehouse space exceeding two million sq. ft. The air cargo warehouse is expected to support an additional capacity of up to 100,000 tonnes per year.
